MARKET NEWS

INDIAN EXPORTERS FACE NEW TAX BURDEN AS FREIGHT RATES MODERATE

Indian exporters – now relieved to see some moderation in sky-high freight rate levels amid slowing volumes – have a new cost burden to deal with: a government tax levy.

APM TERMINALS, AQABA DEVELOPMENT COOPERATION EXTEND PARTNERSHIP IN JORDAN’S BOX TERMINAL

Maersk-owned global port and terminal operator APM Terminals and Aqaba Development Cooperation signed a Memorandum of Understanding (MoU) for a 15-year extension of their partnership in the Aqaba Container Terminal (ACT) in Jordan.

CMA CGM IMPLEMENTS NEW REEFER SURCHARGE FROM USEC AND GULF TO WEST AFRICA

French ocean carrier CMA CGM has announced a new peak season surcharge (PSS) from the United States East Coast (USEC) and Gulf to West Africa.

MAERSK’S SEALAND COMMENCES NEW SPAIN-UK RAIL SERVICE

Maersk's subsidiary specialised on Intra-European logistics, Sealand will launch a new rail product from Spain to the United Kingdom, designed for temperature-sensitive cargo like fruits and vegetables.

MAJOR CHINESE PORTS REPORT CONTAINER VOLUME GROWTH FROM JANUARY TO AUGUST

Chinese container ports have seen a 4.1% increase in the period January-August 2022, compared with the same months last year, with 194.4 million TEU.

CMA CGM APPLIES NEW PEAK SEASON SURCHARGES FROM US

French ocean carrier CMA CGM has announced fresh peak season surcharges (PSS), effective from 1 October until 31 December, from the United States to Latin America and the Caribbean.

WORLD'S LARGEST CONTAINER LINE MSC ENTERS AIR CARGO MARKET

The world's largest container shipping company, MSC Mediterranean Shipping Company SA aims to enter the air freight market, starting the development of a new MSC Air Cargo solution.

NINGBO ON “YELLOW ALERT” AFTER NEW COVID-19 OUTBREAK, SHANGHAI CONTINUES LOCKDOWN

Ningbo port, is now on “yellow alert” after some Covid-19 cases were found. If Ningbo port, which was locked down last August, is locked down again, and with Shanghai continuing to be closed off for the third week, logistical bottlenecks will be further exacerbated.

AIRPORTS ARE CONGESTED AND UNDERSTAFFED, GOODS CANNOT BE DELIVERED TO MANY PLACES IN THE US AND EUROPE

Congestion at some airports, notably Amsterdam (Netherlands) and Chicago O'Hare (USA) has eased, but there are still major problems releasing cargo from Monday to Friday in week.