Nevertheless, two ocean carriers remain bullish on maintaining profitability, as the liner industry adjusts to ‘normalisation’. The Ningbo Containerized Freight Index (NCFI) reported a 30% slump in its Thailand and Vietnam component and a 22% decline in its Middle East index. “Carriers cut pri...

Fire broke out on the 8,586 teu containership on 8 August in cargo hold four as the ship was leaving Colombo. Damaged containers in the affected bays were discharged on 12 August. A source at Zim told Logistic-News  “the incident is being handled by the owner”. Insurance consultant WK Webste...

American Eagle Outfitters and others are using newly launched Quiet Platforms to move their products to customers around the country. The operation is based on the concept of pooling the carrier contacts of the brands and retailers of all sizes participating in the venture, and shipping parcels...

The cooperation agreement covers freight forwarding and warehousing support in South-east Asia. Amid a booming container shipping market last year, Zhonggu ventured into overseas markets for the first time with two services connecting China and Vietnam in March and August. The CV1 calls at Shan...

Unite union negotiators walked out on discussions with the port authority last week, rejecting a 7% wage increase and £500 ($600) lump sum as being “fairly far away” from what its 1,900 members were willing to accept. It claimed that, with inflation above 10%, it was “effectively, a pay cut�...

Customs declaration services are set to switch from the Customs Handling of Import and Export Freight system (CHIEF) to CDS on 1 October. Currently, CSPs act as intermediaries to give ports relevant information about the movement of containers. A source told Logistic-News CSPs required companies movi...

A new facility, the airport’s third, is slated to come onstream in the first quarter of next year, adding 500 pallet positions. The airport operator burnished its credentials in the healthcare and pharma logistics arena during the pandemic, playing a central role in the distribution of Covid vacci...

Namsung confirmed to Logistic-News today it had ordered a pair of 2,500 teu ships fitted with scrubbers from compatriot shipbuilder Hyundai Mipo Dockyard, costing $43m each. Currently, freight rates for shipments from South Korea to Singapore, Malaysia and Indonesia are averaging between $1,100 and $...

The carrier reaffirmed its full-year guidance of an adjusted ebit of $6.3bn, to $6.7bn. “We feel confident in our ability to develop quarter after quarter of profit,” Zim CFO Xavier Destriau told investors at yesterday’s Q2 earnings call. Revenue for the period was $3.4bn, from a 7% year-on-ye...

Instead of the usual peak season surcharge on shipments starting in early October, this year FedEx customers will start paying as early as the US Labour Day holiday on 5 September. The company justified the move by saying there were elevated costs it needs to cover. However, recent aggressive polici...