Like today’s ocean freight rates, competition between the world’s three global east-west alliances is at an all-time high. According to Sea-Intelligence data, “the capacity market share of non-alliance services is now higher than both THE Alliance and 2M, and is now equal to roughly 30% of all transpacific deployed capacity.”
Meanwhile, it seems that turning to the U.S. legal system to handle your service-contract grievances may not be worth the wait when you’re on the clock based on the current legal precedent. As for the COVID-19 lockdown that took place at the Port of Yantian in June, it looks like the situation has finally caught up to us in the form of a 180% spike in container prices, according to Container xChange.
In other news, FreightWaves has reported on yet another cyberattack launched against maritime fuel provider Petrologis Canarias that fortunately failed to live up to the hackers’ threat of a “Colonial Pipeline 2.0.” Finally, we have the recent freighter flight suspensions at the Shanghai Pudong International Airport that many industry professionals are expecting to further increase shipping delays and transit times on top of significantly impacting airfreight rates from China.
To learn more about this week’s top international shipping industry news, check out the following article snapshots:
