Container freight rates across the world’s busiest ocean trade route have soared to a 10-year high, adding to strains on major shipping lanes as Western retailers rush to restock ahead of the year-end holidays.

Freight volumes at the Port of Gothenburg have remained stable, despite the ongoing effect the Covid-19 pandemic is having on world trade. Container volumes remain unchanged while other segments are regaining lost ground following the downturn earlier in the year. This can be seen from the volume report for the year to September.

Long-term freight rates are on the rise according to a new analysis from BIMCO. While the increase in long-term freight rates is in line with BIMCO’s expectations given the current strength of the spot market, they note that since most containers are shipped on long-term contracts the rate increase is more significant for shippers and contributes to the profitability of the carriers.

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday to mark its worst day in over two months, hurt by falling capesize rates.

The Club’s statistics show heavy weather to be the major immediate cause of container losses

Bouchard has faced a series of regulatory and financial challenges since the explosion aboard the Bouchard Barge No. 255 off the coast of Texas in October 2017

The French government announced a payroll to help the ferry companies

The move marks a major accomplishment in LNG bunkering to Western Canada

The Committee reviewed the crude oil production data for August 2020 and welcomed the positive performance in overall conformity for participating OPEC and non-OPEC countries of the DoC

This new record of 33 days is one of the fastest turnarounds of the project in the region