Launched in August 2023, the Shanghai INE EC container freight futures contract, based on the SCFI’s China – North Europe sub-index, managed to find its footing in 2024, gaining increasing acceptance as a hedging tool among Chinese as well as some first European forwarders and shippers. Shanghai container freight futures started 2024 at around 1,850…
Vietnam’s import and export turnover in 2024 will reach 786,29 billion USD, of which the trade surplus will be 24,77 billion USD. In December, total turnover Export and import of goods reached 70,53 billion USD, up 6,2% over the previous month and up 15,9% over the same period last year. Export turnover of goods in December…
Port of Chittagong achieved a 7.4% growth in container handling in 2024 compared to 2023, despite severe political unrest and recurrent floods. The major port of Bangladesh handled a total of 3.276 million TEUs in the just concluded year, compared to 3.05 million TEUs in 2023, which is a record in the history of the…
Ocean rates out of Asia overall trended up slightly to end the year, but with the Lunar New Year (LNY) approaching and a range of January GRIs announced for the transpacific, container prices on these lanes could face upward pressure to start 2025. A seasonal decrease in demand starting later in February should see rates…
On 24 December, PSA Singapore (PSA) achieved a remarkable milestone by handling over 40 million TEUs in 2024. This record-breaking performance surpasses the previous annual high of 38.8 million TEUs achieved in 2023. Ong Kim Pong, Group CEO, of PSA International, stated: “This record throughput for PSA’s flagship terminal in Singapore is a remarkable milestone and…
As we welcome 2025, we extend our heartfelt gratitude and best wishes to everyone who has been part of our journey: 𝐓𝐨 𝐨𝐮𝐫 𝐯𝐚𝐥𝐮𝐞𝐝 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬: Thank you for trusting us as your partner. Your support drives us to continually improve and deliver the best service possible. May the new year bring you success and prosperity….
Artificial Intelligence (AI) has emerged as a transformative force within Vietnamese enterprises, aligning with the broader trends of digital transformation and Industry 4.0. Artificial Intelligence (AI) has emerged as a transformative force within Vietnamese enterprises, aligning with the broader trends of digital transformation and Industry 4.0. From optimising business processes to creating new value propositions,…
As of October 2024, Vietnam has signed and implemented 17 Free Trade Agreements (FTAs) and is negotiating two more. Expanding its FTA network underscores Vietnam’s commitment to economic integration, offering substantial opportunities to deepen its role in global value chains, boost exports, drive GDP growth, and enhance institutional frameworks. Key Benefits of Vietnam’s FTA Network…
Newbuilding deliveries in 2025 will double the capacity overhang even following the absorption of capacity following the Red Sea diversions, according to shipbroker Braemar. In its latest market report Braemar said that it had expected 2024 overcapacity to reach 12-13% in this year, up from around 9% in 2023, but the Red Sea diversions quickly…
The latest EU emissions regulation becomes effective on January 1, 2025, which is less than three weeks away. For ship owners operating in or trading to European waters, its impact will be felt for the next three decades and beyond. In a DNV webinar on Thursday, Piotr Naruszewicz, the classification society’s Technical Manager, GHG, and Helge Helmundsgaard,…