It’s enough to have industry observers scratching their heads in wonder. In the face of continued economic uncertainty, a delicate geopolitical situation, and a crippling global pandemic, container shipping companies are seemingly managing an impossible balancing act.
The pace of container port capacity expansion is forecast to contract at least 40% over the next five years in the wake of the COVID-19 induced slowdown in port throughput, according to Drewry.
Leading independent global NVOCC CargoGulf is offering faster transit times and even better service with its new Arab Gulf Indian Sub Continent liner service linking Pakistan and India direct with markets in the upper Arabian Gulf.
With the collapse in demand and glut of supply in the container vessel segment, analysts may have been fearing the worst for developments in long-term contracted ocean freight rates.
At about 10.45 am AEST this morning, Sunday 24 May, the AMSA received notification that a container ship had lost cargo overboard off the NSW coast.
Drewry Maritime Financial Research Services, the investment research arm of global shipping consultancy Drewry, is pleased to announce the launch of a special report into the financial health of the global container shipping industry.
New analysis conducted by maritime intelligence company eeSea has revealed the extent of the impact of COVID-19 on global container shipping capacity.
At about 0035 on 1 June 2018, YM Efficiency was en route to Sydney, steaming slowly into strong gale force winds and very rough seas off Newcastle when it suddenly rolled heavily.
As the name suggests, a vessel structured specifically to hold huge quantities of cargo compacted in different types of containers is referred to as a container vessel (ship). The process of sending cargo in containers is known as containerization.