UK exports hit by EU and US tariffs
Despite the tariff-free deal agreed with the EU, up to £3.5bn of British exports have already had taxes applied and the US has introduced new tariffs worth $2bn on European goods, including products from the UK.
British goods worth billions of pounds, accounting for about 10% of British expor...
Read more Sea freight rates continue rise
Monitored ocean Freight all Kinds (FAK) rates rose yet again this week from their already record-high levels, across all major East-West trades, up 518% on their level a year ago into Northern Europe and expected to remain on the higher side due to port congestion, huge demand and lack of e...
Read more Yantian port disruption widens with global ripple effects
While some container shipping lines will continue calling at Yantian, other carriers have already diverted ships as the port’s operations have deteriorated, with Maersk warning that delays are now expected to last two weeks.
The Yantian congestion is yet another disruption to global shipping...
Read more Suez Canal Closure Latest – Important Operational Update – Please Read
At approximately 15:00 today The Ever Given has been successfully refloated within the Suez Canal and is currently leaving the grounding site with the assistance of tugboats. As soon as she is clear of the Canal, the authorities will resume normal operation and start to clear the hundreds of vess...
Read more Lines set to impose new round of increased fuel surcharges for Q2
The sea freight bunker industry has been undergoing significant change since the introduction of the IMO2020 rule and the impact of measures taken in response to the Coronavirus pandemic have contributed to major shifts in oil market dynamics, with rising prices encouraging shipping lines to incr...
Read more Q2 sea freight market report
With the 2nd quarter (Q2) of 2021 just a week away, we review five key issues, that are likely to impact maritime logistics platforms over the next three month period and the actions that you can take to protect your cargoes and the integrity of your supply chains.
Equipment, space and congest...
Read more Day 3 ; Blocked Suez Canal could unleash even more congestion on the main Europe/ Asia/ Europe trade
As of noon today the ultra large container vessel Evergreen Ever Given remains lodged sideways in the main channel, blocking vessels in both directions along the Suez Canal, creating one of the worst shipping jams seen in years and threatening even more chaos, when the grounded vessel arrives in ...
Read more Suez Canal blocked by container ship
At 7:40 am on 23 March 2021, the 20k TEU container ship Evergreen Ever Given was navigating the Suez Canal when it ran aground, turning the ship sideways and blocking the canal, with the potential to impact oil and sea freight prices if she cannot be freed quickly by the tugs currently trying to...
Read more The mind-boggling logistics of Singles’ Day
Singles' Day is an unofficial Chinese holiday celebrating people who are not in relationships, with the unmarried commemorating the occasion by treating themselves to gifts, making Singles' Day the largest online shopping day in the world, by quite some margin.
With 1.9bn products ordered in 2...
Read more UK export surge thanks to manufacturers
Manufacturing output continued to rise in September, after the three-month low recorded in June.
September saw manufacturing continue its recovery from the steep Covid-19 induced downturn, as global importers continue to demand goods from the UK.
The IHS Markit Manufacturing Purchasing Mana...
Read more US Polar Vortex
A third of the United States has been experiencing temperatures of -17C (0F) or below, with loss of life and severe impact on freight and transport infrastructure. Temperatures are expected to swing above average over the weekend, which means that the situation will quickly normalise.
The pola...
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