Tag: freight rates

WoodMac's experts focused on the approaching IMO 2020 and the impacts it could possibly have beyond refining and shipping. Research director Sushant Gupta marks that the industry should expect wider light-heavy and sweet-sour crude price differentials.

The composite index decreased 0.3% this week, but increased by 12.8% when compared with same period of 2018. The Index, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia is down 0.3% to $1,330.29 per 40ft container, as of 18 April. 

The British Ports Association is in favour of focusing on freight transport, a recommendation by the National Infrastructure Commission. Yet, it proposes that more investments in network capabilities and port connectivity is key to establishing better efficiencies. The quality of the transport network is critical for efficient freight movement and business growth.

International container rates finish in March with small but important increase in European import and export activity, along with increased Far East imports and a continuous development in US exports. Xeneta's  latest XSI® Public Indices report builds on the positive rates development recorded which effectively halted a decline underway since August 2018. 

US President Donald Trump announced on March 22 that he lifted sanctions on two Chinese freight forwarders that were accused of trading illegally with North Korea. The US Treasure had imposed large scale sanctions on these companies, which would be added to the already existing sanctions. However, Mr. Trump intervened to withdraw them.

According to Drewry, China's developing increasing demand for chemical shipping is due to strengthen coastal freight rates. The demand is being boosted by the fast growth of the Chinese base chemical production capacity. Mainly, about 55% of the new production capacity is placed in East China, 23% in North China, whereas another 22% in South China.

The Chinese Ministry of Transport informed that dry bulk and container shipping along the country's coast are experiencing too much capacity, which may lead to reduced rates. As of now, China's coastal shipping market is stable, but due to increasing issues with over-capacity, it is possible that this stability will change. 

As data from the National Bureau of Statistics highlight, the overall freight volume transferred to China experienced an increase of 7.1% year-on-year to 51.5 million tonnes in 2018. According to the Bureau's data, China's freight throughput at some of its most crucial ports reached the 13.3 billion tonnes in 2018, experiencing an increase of 2.7%, in comparison to 2017.

Swedish Ports of Stockholm finished 2018 with a record reaching with stable freight volumes and a record number of cruise passengers. According to the Ports' 2018 summary, a new revenue record of SEK 866 million (USD 94.9 million) was reached, meaning SEK 10 million more than the record set in 2017.

Freight rates for dry-bulk and container ships, carriers of most of the world’s raw materials and finished products, have experienced a decrease during the last six months, reflecting the that the global economy is slowing significantly. The measured transport costs for materials like iron ore and coal, have reduced by 47% since mid-2018, affected by the US-China trade dispute, according to Reuters.