Container Shipping Industry Faces Unprecedented Slump in Long-Term Rates
The container shipping industry experienced a significant downturn in global long-term freight rates during the month of May, as the contracted cost of shipping containers plummeted by a staggering 27.5%, according to Xeneta’s Shipping Index (XSI®). This marks the ninth consecutive month of rate drops and represents the largest monthly fall ever recorded on the […]
Embracing Change For a Sustainable Shipping Future
2023 has seen new regulations on efficiency and carbon intensity from the International Maritime Organization (IMO), and a continued focus on decarbonisation across the sector. The Carbon Intensity Indicator (CII) and Energy Efficiency Existing Ship Index (EEXI) measures, effective from 1 January 2023, require vessels to reduce their Greenhouse Gas emissions. These changes show how […]
Asia Pacific Airlines April 2023 Traffic Results
Preliminary April 2023 traffic figures released today by the Association of Asia Pacific Airlines (AAPA) showed continuing recovery in international passenger demand, reflecting the unabated appetite for travel in the region. Collectively, Asia Pacific airlines recorded a 249.8% year-on-year increase in the number of international passengers carried to a total of 20.3 million in April, […]
Renault switches from pricey car carriers to containers for shipments out of Busan
Contrasting ship sector fortunes have been reflected in South Korea where French automotive giant Renault has started shipping brand new cars in containers to avoid prohibitively high costs associated with the car carrier sector. Car carrier fortunes have been hitting record figures for the past 15 months, while container earnings have slid from their all-time highs in […]
Number of containers lost at sea falls to record low
A total of 661 containers were lost overboard in 2022, out of 250m transported, representing the lowest losses in percentage since the Washington-based liner lobby group, the World Shipping Council (WSC), started the survey in 2008. The number is less than one-thousandth of 1% (0.00026%) of the containers currently shipped each year, with cargo transported […]
U.S. Seaports Are Weathering a Numbers Hangover in Import Volumes
Shipping executives say recent double-digit declines from last year’s big growth mask long-term gains U.S. seaports are having a terrible year, yet are seeing something of an importing resurgence at the same time. Imports at some of the nation’s busiest container ports have been falling at a double-digit annual pace for several months. Yet business […]
Ryanair reports full year profit of €1.43 billion due to strong traffic recovery & favourable oil hedges
Ryanair Holdings plc today (22 May) reported a Q4 loss of €154m but a full-year PAT of €1.43bn, compared to a PY loss of (€355m), due to strong FY traffic recovery, improving fares, industry leading cost base and advantageous fuel hedges. 31 Mar. 2022 31 Mar. 2023 Change Load Factor 82% 93% +11pts Customers […]
Container Volumes at Port of Los Angeles Rise for Second Straight Month, But Pace Lagging Pre-Pandemic
Container volumes at the Port of Los Angeles showed improvement for the second consecutive month in April, although they continue to lag behind pre-pandemic levels. In April, the Port of Los Angeles processed 688,110 twenty-foot equivalent units (TEUs), a 22% decrease compared to the same period last year when the port had its second-busiest April […]
ACI World streamlines its resources for small and emerging airports
Airports Council International (ACI) World today announces the streamlining of its resources for small and emerging airports to foster their continued growth and sustainable development. The streamlining of resources, which includes certain programs and services at a lower rate, follows the ACI World Resolution “Support and assistance for small, emerging and regional airports,” approved at […]
Italy’s Exports to China Are Booming and It’s Not Clear Why
Italy’s exports to China have tripled in little more than a year. The problem is, even the experts are struggling to explain why. Shipments abroad rose above €3 billion ($3.3 billion) in February, up 131% from a year earlier. This follows another jump of 137% the month before. For comparison, Italy exported about €1 billion […]
