News

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Looking at the futures market being traded in Shanghai, analysts at Asia-based container consultancy Linerlytica are predicting box freight rates from Asia to Europe will tumble by more than 70% by June next year.

Danish shipping giant DSV and a consortium led by private equity fund CVC Capital Partners submitted their final offers to purchase DB Schenker, the logistics arm of the German railway group Deutsche Bahn. What has been called as the logistics sale of the 21st century should thus be finalised in the coming weeks.

Every now and then in the shipping news cycle, you’ll hear calls to reinvigorate shipbuilding in countries such as the US and across Europe. We’re experiencing such a moment right now. The fact is, however, the maths do not add up.

The New York Shipping Exchange has modified its operating strategy, responding to a significant shift in how customers contract for container shipments.

A labor strike that would shut down six out of 10 of the busiest ports in the US just weeks before the presidential election is looking increasingly likely.

A collision between two tankers off Singapore in July raises questions over insurance claims, as one of the vessels previously shipped Iranian oil, potentially complicating payments due to Western sanctions, ship-trackers and industry sources say.

Investments under discussion for quite some time have been made official in Kazakhstan. As the Kazakh government announced, the Caspian Sea ports of Aktau and Kuryk will undergo significant upgrades. The goal is to create a regional comprehensive logistics cluster that will benefit the Middle Corridor. Most, if not all, investments will be carried out with private funds.

Consistently strong rains will allow the Panama Canal to accommodate 36 transits a day from September with the interoceanic waterway getting ever closer to maximum operating conditions.

A flag featuring the Union Jack of the United Kingdom has become a go-to register for Russian-linked ships.

Ecojet, the world’s first electric, commercial airline, has signed an agreement to purchase 22 ZA2000 hydrogen-electric engines from the zero emissions innovator ZeroAvia, with options for a further 40 engines. The order takes the world a step closer towards a revolution in aviation with carbon free flights. The ZA2000 engine can be retrofitted into 40-80 seat regional turboprops for zero-emission flight.

MANILA, Philippines — A Philippine oil tanker, the Terra Nova, sank in Manila Bay early Thursday after being hit by large waves. The coast guard is now assessing whether the vessel is leaking oil, which could result in a significant spill. They successfully rescued 16 out of the 17 crew members during a nighttime operation, officials reported.