On the 12th local time, the European Commission (EC) announced in a statement that starting next month, it will impose an additional tariff of up to 38.1% on electric vehicles imported from China. Immediately, the three major German automakers—Volkswagen, Mercedes-Benz, and BMW—responded quickly, opposing the preliminary ruling and the decision to impose additional tariffs. In…
Frontline’s CEO, Lars Barstad, said on Wednesday that even if the Israel-Palestine conflict reaches a ceasefire, which could potentially end the threat of Houthi attacks on ships, shipping companies are unlikely to quickly resume routes in the Red Sea. Lars Barstad emphasized, “We are all hoping for a ceasefire in the Israel-Palestine conflict, but expecting…
Latest News on June 10: Yemeni Houthi Rebels Attack Two Vessels On June 9, local time, Yahya Saree, a spokesperson for the Yemeni Houthi rebels, announced on social media that they had attacked two commercial vessels for violating the ban on traveling to Israeli ports. The two vessels attacked were the Liberian-flagged container ship “MSC…
Due to various factors such as rising demand, the Red Sea situation, and port congestion, shipping prices have continued to rise since early June. Leading shipping companies like Maersk and COSCO have successively announced the latest peak season surcharges and price increase notices, impacting routes to the United States, Europe, Africa, the Middle East, and…
Due to multiple factors such as rising demand, the Red Sea situation, and port congestion, shipping prices have continued to increase since the beginning of June. Leading shipping companies like Maersk, CMA CGM, and Hapag-Lloyd have successively announced the latest peak season surcharges and price increase notices, affecting routes to the United State, Europe, Africa,…
As the crisis in the Red Sea continues to escalate and demand keeps rising, the global capacity crunch is becoming increasingly severe, leading to significant rate hikes across multiple shipping routes. Companies are facing immense pressure due to the shortage of shipping space and containers. Currently, the tight supply situation for vessels and containers has…
Recently, CMA CGM issued an announcement to its customers stating that the large container ship “NORTHERN JUVENILE,” which the company leases, caught fire while sailing from Singapore to Pointe-Noire. Currently, the shipowner is working hard to ensure the safety of the crew on board and to carry out firefighting efforts. The schedule may be severely…
According to the latest report from Linerlytica, container congestion at the Port of Singapore has reached an unprecedented critical level. Currently, a large number of vessels are queued outside the port, awaiting berthing, with the number of backlogged containers exceeding a staggering 450,000 TEUs (20FT equivalent units). The analysis company estimates that the wait time…
Since the beginning of this year, shipping prices have skyrocketed, leading to a phenomenon where containers are in extremely short supply. Due to the high demand, shipping companies have also started releasing cargo space through alternative methods. Recently, an American furniture dealer, PKDC, filed a lawsuit with the Federal Maritime Commission (FMC), seeking $12 million…
25th May 2024 – (Xi’an) A train loaded with a diverse range of goods set off from Xi’an, the capital city of China’s Shaanxi Province, on Saturday morning, embarking on a journey to Malaszewicze, Poland. This milestone departure signifies that the total number of China-Europe freight train trips has now exceeded 90,000. To date, China-Europe…
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