IMPORT demand in the US and Europe has fallen steadily since the summer, with market indicators all pointing to continued weakness into 2023, says Xeneta＊s CEO Patrik Berglund, reports IHS Media.“As more and more long-term contracts expire in the new year, all indicators point towards considerable rate drops from today＊s levels, with several of the […]

India is working out a plan to ramp up cargo handling capacity of its ports four fold to 10,000 million tonnes per annum (mtpa). A comprehensive ports master plan will spell out the target to be achieved by 2047, coinciding with 100 years of India’s Independence, a senior government official told ET.

In an industry-leading move, South Korean liner HMM has opened a dedicated container train service from North India (ICD Tughlakabad) to Kattupalli Port, an emerging gateway near Chennai. “With extended support from its service partner – Container Corporation of India (Concor), HMM has launched a new, direct rail service from ICD Tughlakabad to Kattupalli Port, […]

To strengthen the viability of goods produced in the state by reducing logistics costs from 13% to 8%, the Punjab Government is in the process of finalizing the state’s logistics policy. The Integrated Logistics and Logistics Park Policy is getting its final touches from the industries and commerce department for approval from the state cabinet. […]

CONTAINER freight rates on major trades out of India have hit new lows in November amid falling cargo volumes, reports Athens’ Container News.On the westbound India-Europe trade, average contract rates from West India to Felixstowe/London Gateway (UK) or Rotterdam (the Netherlands) have fallen to US$2,300 per TEU from $3,500 and $2,450 per FEU, from $4,000 […]

Copenhagen – A.P. Moller – Maersk (Maersk) and IBM today announced the decision to withdraw the TradeLens offerings and discontinue the platform. TradeLens was founded on the bold vision to make a leap in global supply chain digitization as an open and neutral industry platform. Unfortunately, while we successfully developed a viable platform, the need for […]

There is a lot hue and cry happening in the exporter circle about the withdrawal of exemption of goods and services tax (GST) on international outbound ocean and air freight. Amid the looming threat of the global recession, most of the exporters are in fact assuming further squeeze in the margins, as GST exemption has […]

Prasit Rodphan11/11/2022 dreamstime_s_97800666Spot container freight rates on the largest Deepsea trades rebounded this week, despite continuing weak demand, suggesting recent capacity cuts have begun to reverse months of pricing decline. According to the Freights FBX index, Asia-US west coast rates increased 11% week on week, to $2,763 per 40ft, which is around 80% lower than […]

Currently, India does not have a robust container manufacturing market, and a large portion of its containers come from China The Centre is working towards a new production-linked incentive (PLI) scheme to encourage container manufacturing in India. Allocation for the scheme may come from a part of the savings from existing PLI schemes, multiple government […]

Shipping group Maersk (MAERSKb.CO) warned on Wednesday of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations. “It is clear that freight rates have peaked and started to normalize during the quarter, driven by both decreasing demand […]