Shipping lines are cutting container services between North Asia and Australia as plummeting freight demand reaches “breaking point”.
According to Alphaliner, streamlining services on the North Asia-China-Australia trade will remove around 4,500 teu of weekly capacity and make five classic panamax ships redundant.
For example, Alphaliner said, the joint Australia Express service by ONE, Yang Ming, Evergreen, APL and Hapag-Lloyd would be closed in its current form; as will a service jointly …
Today’s Shanghai Containerized Freight Index (SCFI) saw spot rates tumble again on the transpacific, as softening demand reflected the impact of US tariffs on Chinese imports.
Rates from Asia to US west coast ports, as recorded by the SCFI, slumped a further 9% this week to $1,229 per 40ft, as shippers rowed back on front-loading to beat new import tariffs on 15 December.
However, for the more robust lane to the US …
The post Transpacific spot rate slump continues amid global trade uncertainty...
For the first time in the industry’s history, an all-female bridge and officer team is going to be at the helm of a cruise ship, courtesy of Celebrity Cruises which is calling it a “barrier-breaking, history-making” initiative.
Set to head to the Eastern Caribbean from Fort Lauderdale, Florida, the brand’s newest $1bn ship, Celebrity Edge, will be under the lead of Captain Kate McCue.
Having become the first female American cruise ship captain in 2015, McCue will be accompanied by 26 other women...
Japanese shipping firm NYK and Norwegian maritime technology firm Dualog have signed a research and development agreement to develop new solutions for improved ship management.
Known as Cepa Shield, the project will be financially supported by Innovation Norway, a state-owned company and a national development bank.
According to the agreement, the partners will develop digitised products and services, which will be initially tested on 50 ships.
After completion of the trial, the solution will be...
Three LNG companies are set to establish their LNG export facilities at the Port of Brownsville in Texas, US, with a total investment of $38.75bn.
The US Federal Energy Regulatory Commission (FERC) has granted permission to Texas LNG, NextDecade, and Annova LNG to go ahead with the planned construction of the LNG export facilities at the port.
Brownsville Navigation District Chairman John Reed said: “Today’s announcement is another significant milestone in making these energy projects a reality...
Finnish marine technology company Wartsila has secured a contract to supply its Wartsila 32 engine, a NOx Reducer (SCR) selective catalytic reduction system, and a shaft generator for a Norwegian fishing vessel.
The 75m-long fishing vessel is known as Brennholm after its Norway-based operator.
The new engine will be installed on board the fishing ship at the Orskov Yard in Denmark at the end of next year.
Wartsila claims that its engine can save nearly 13% on fuel bills compared to the ship’s...
Fire erupted in the morning Nov 22 in superstructure of Greek ore carrier ORE SUDBURY, anchored at Itaguai, Brazil, since Nov 19. Fire reportedly spread around Deck 3 in living quarters, and was extinguished by crew. Tragically, 40-year old Greek Captain died, understood suffocated in smoke. The...