HMM India has announced a new General Rate Increase for shipments from India to North Continental Port and Mediterranean ports. The Indian branch of the South Korean container transportation and shipping company said that effective from 28 June 2024, for loading on the FIM (Far East India Mediterranean) Service Vessel, Hyundai Tokyo 0152W, there will […]
Recent data from Container exchange indicates significant impact of congestion on the average container prices and leasing rates at the port of Singapore. Average container prices in Singapore have surged by 26% from October 2023 to May 2024, reflecting a substantial increase in demand for capacity amid global congestion. Furthermore, container leasing rates on key […]
Threat of strike action at US East and Gulf Coast ports may see importers accelerate efforts to protect ocean supply chains in a vicious circle of disruption in ocean freight container shipping. The International Longshoremen’s Association (ILA) announced on Monday that it has suspended negotiations with United States Maritime Alliance (USMX) over a new labor […]
The Russian government, via state-owned transport company Rosatom, has entered into an agreement with China’s Hainan Yangpu Newnew Shipping to form a new joint venture that will operate container vessels year-round on the Northern Sea Route (NSR). The agreement also calls for the construction of five ice-capable containerships capable of operations in the Arctic, particularly […]
India has permitted an additional export of 10,000 tons of onions to the UAE, aiming to stabilize prices ahead of Eid al-Fitr, a period marked by heightened demand for consumables, including vegetables and spices. The decision is expected to impact onion prices in the UAE, which have recently surged to over Dh7 per kilogram, contrasting […]
In a significant development for trade and logistics in Eastern India, the Syama Prasad Mookerjee Port, Kolkata (SMPK), has initiated a direct container vessel service from Shanghai, China. This move is set to streamline operations and reduce logistics costs substantially. The announcement made on June 10 also includes the introduction of a weekly express service […]
The Indian air cargo sector is targeting a significant increase in annual throughput at airports, aiming to reach 10 million metric tons by 2030. This ambitious goal faces challenges from stringent security measures and time-consuming processes, prompting industry stakeholders to urge the government for streamlined procedures. In FY 2024, Indian airports handled 3.36 million metric […]
Russia’s ongoing conflict with Ukraine and the resulting international sanctions have significantly impacted India’s export landscape. Over the past financial year, India saw a substantial increase in the export of engineering goods, machinery, machine parts, and aircraft spares to Russia, while traditional exports such as pharmaceuticals, tea, coffee, and tobacco either stagnated or declined, as […]
Swedish furniture retailer Ikea said on Tuesday it will partner with Rhenus, an international logistics firm, to expand its delivery services in Delhi-NCR (National Capital Region). Rhenus will by early next year establish a warehouse capable of storing and fulfilling over 7,000 products. The warehouse will boost the company’s operational efficiency, including seamless doorstep delivery […]
Import of onion through Dinajpur’s Hili land port has started after a long period of five months following withdrawal of ban export by Indian government. The import started with the arrival of onion-laden trucks from India at 6:30pm on Tuesday. “Ma Bharti International” of India has exported 30 tons of onion which has been imported […]