Shipping News

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…

Freight forwarders, importers, exporters and many other parties within the space often hear the terms ‘demurrage and detention’. At Trade Finance Global, we often come across confusion between the two terms, and a not too much understanding about the key differences between demurrage and detention. Demurrage and detention are incredibly important terms that often lead…

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…

The Red Sea Crisis Constrains Global Shipping Supply The international shipping market is now facing a new geopolitical challenge – the Red Sea crisis. The Red Sea region is a critical global shipping corridor, and the ongoing crisis in this area is directly impacting the safety of maritime operations. Major shipping lines are frantically rerouting…

Negotiations have reached a stalemate. On Wednesday, locomotive engineers, yard workers, and rail traffic controllers from the Canadian Railway Union (TCRC) voted overwhelmingly to support the strike. Over 9,000 Canadian railway workers could go on strike as early as May 22, significantly impacting the country’s two major railways—Canadian National Railway (CN) and Canadian Pacific Kansas…

Recently, many people have been asking why there has been a sudden surge in congestion and price increases? It’s understandable to be confused, as May is not typically a peak season. So why the sudden congestion? Is this a temporary bubble, or is it an early arrival of a peak season supported by actual cargo…

Countless sellers face challenges as multiple popular Amazon warehouses in the Western U.S. grapple with severe overstocking issues amid unforeseen events, including natural disasters, increased stockpiling, and staff reductions, further compounded by the aftermath of a fire at an overseas warehouse. The highly anticipated Amazon Prime Day mega sale of 2024 is looming, yet unforeseen…

As time passes, the impact of the situation in the Red Sea on detours is continuously manifesting. Recently, container shipping rates have once again soared, with freight forwarding companies universally reporting a severe ‘shortage of containers’ issue. ‘Prices are rising again, and it’s impossible to secure containers!‘ remarked a head of a freight forwarding company,…