FreightTech Friday: Japan’s proposed conveyor-belt highway.

Japan’s transportation ministry fights ongoing labor shortage

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How high will container freight rate spike go?

How high will container freight rate spike go?   The dramatic rise in container spot rates continued into July with signs of impact on contract rates as well. The Drewry World Container Index (WCI) was up another 10% week-on-week on 4 July to stand at $5,868 per feu and is 298% higher than it was a year earlier. It is [...]

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Red Sea attacks still taking toll on global chemical shipping industry

Red Sea attacks still taking toll on global chemical shipping industry. Ocean freight rates for 40-foot containers from Asia to North Europe currently over $8,760 Ongoing attacks on vessels in the Red Sea by Yemen’s Houthis continue to disrupt shipping lanes in the chemical industry’s supply chain, according to Al Greenwood, chemicals expert and deputy editor at ICIS. “It’s having [...]

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Panama Canal announces second set of restriction easing in June

Panama Canal announces second set of restriction easing in June. Through an Advisory to Shipping, the Panama Canal has announced that, effective June 26, the maximum authorised draught was raised to 14.33 metres (from 46 to 47 feet), and on July 11 will increase to 14.63 metres (48 feet). Additionally, a new booking slot for the Neopanamax locks will be [...]

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