-
Houthi Launch Multiple Attacks on Ships in the Red Sea
US Central Command has reported that the Houthi rebels have launched several attacks against commercial ships in the Red Sea. One of the targets was the Israeli-owned, Monaco-operated, and Panama-flagged 40,000 dwt tanker Bentley I. In the initial attack, the Houthis employed an uncrewed surface vessel (USV) and two small crewed boats. According to UKMTO,…
-
CMA CGM Ship Loses 44 Containers in South African Storm
The CMA CGM Benjamin Franklin, an 18,000 TEU container ship, lost 44 containers overboard due to severe weather while navigating the Cape of Good Hope. The French shipping company, CMA CGM, reported that the Benjamin Franklin encountered “unexpectedly strong adverse weather conditions” off the coast of South Africa during a westbound voyage from Asia to…
-
Red Sea Crisis Impacts Greece Container Volumes
The geopolitical instability in the Red Sea has significantly affected container shipping routes, forcing vessels from Asia to navigate around Africa. Consequently, many ships are now approaching Cosco Port terminals in Spain and northern Europe instead of Greece’s largest port, Piraeus. Impact on Piraeus Port In May, Piraeus Port reported a notable decline in container…
-
India to Create $9 Billion Mega Port Near Mumbai
The Indian government has given the green light for the development of a new deep-water port, Vadhavan, on the western coast of the country. Located about 150 kilometers from Mumbai, Vadhavan is part of a strategic initiative to establish sea and rail links connecting India with Europe through the Middle East. The construction of the…
-
Warning: Container Freight Rates Could Hit Pandemic Record Highs
As port congestion and a surge in demand add pressure on top of Red Sea diversions, analysts suggest that container freight rates might once again reach the record levels seen during the pandemic. Lars Jensen, CEO and Partner of Vespucci Maritime, spoke at TOC Europe this week about the current challenges. He explained that diversions…
-
Cargo Thefts Surge 46% in First Quarter-Verisk Analytics’ CargoNet Report Highlights Increase from 2023
The trucking industry faced a significant rise in cargo thefts during the first quarter of 2024. According to Verisk Analytics’ CargoNet, criminal activities in logistics and transportation jumped 46% year-over-year to 925 incidents and saw a 10% increase from the previous quarter. The estimated value of stolen goods during this period reached $154.6 million. “We’re…
-
Smooth Sailing Ahead: What’s New in Ocean Freight?
Ahoy, shippers and logistics enthusiasts! Welcome to the very first edition of our Finwhale Logistics Weekly Update. We’re here to keep you in the loop with the latest and greatest in the world of international ocean freight, all served up in easy-to-digest bites. Let’s dive in! This Week’s Highlight: Major Ocean Freight Routes See Record…
International ocean freight news
Archive
No archives to show.
Categorise
- No categories
