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Week 34 Freight Updates

August 25th, 2021

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:

New analysis shows the fierce fight between alliances for market share on the main east-west trades

New analysis shows the fierce fight between alliances for market share on the main east-west trades

While competition authorities and shipper bodies allege collusion among carriers in today’s record, sky high freight rate environment, new analysis from Sea-Intelligence shows the fierce competition for market share between the world’s three global east-west alliances.

Settling container service-contract breaches legally fraught with pitfalls (sub. required)

Settling container service-contract breaches legally fraught with pitfalls (sub. required)

One of the issues being hotly debated amongst some shippers in the current market environment pertains to the level of enforceability of the shipping contracts.

Shortages, congestion and Covid delays push container prices sky-high

Shortages, congestion and Covid delays push container prices sky-high

The Covid lockdown at the southern Chinese hub port of Yantian in June has resulted in a 180% spike in the price of containers, according to online trading platform Container xChange.

Did hackers pull off a maritime ‘Colonial Pipeline 2.0’?

Did hackers pull off a maritime ‘Colonial Pipeline 2.0’?

When the LockBit ransomware gang announced it had hit maritime fuel provider Petrologis Canarias earlier this month, the hackers proclaimed the cyberattack “Colonial Pipeline 2.0” with an added wink emoji.

Shanghai airport terminal closure leads logistics firms to expect cargo delays

Shanghai airport terminal closure leads logistics firms to expect cargo delays

Freighter suspensions that began Friday remain in effect at Shanghai Pudong International Airport after the Shanghai Health Commission reported five new COVID-19 cases among cargo workers.

2021-08-24T17:33:54+00:00August 25th, 2021|Shipping News|
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