Amid an increasingly pessimistic cargo demand outlook, ocean carriers are said to be negotiating with shipyards to delay delivery dates...
Shipbuilding contracts often incorporate a clause to facilitate a delay of 6 months or more, depending on the stage of construction and pressure from other orders.
But with the container shipping industry facing many challenges, warehouse owners can be quite comfortable about delaying delivery and the delay will focus on smaller sizes. In fact, shippers are competing for jobs with tonnage overwhelmed by the arrival of new 24,000 teu ULCVs on the Asia-Nordic route.
And shipping line procurement officials have been instructed to pause orders for new containers and return as much rented equipment as possible to alleviate the huge storage costs from mountains of empty containers. warehouses around the world.
Indeed, container warehouses will remain overcrowded, according to online shipping container platform, Container xChange. "There's not enough warehouse space to hold all the containers," says CEO Christian Roeloffs.
“With inventories continuing to hit the market, there will be additional pressure on warehouses in the coming months. This will be a major challenge for some and a competitive advantage for others in the business, especially in China because of locating empty containers there.”
The dual effects of a drop in demand and easing of port and shore congestion at container hubs have caused a major reversal in supply-demand fundamentals. According to the latest Drewry Container Forecaster supply-demand index, the market will see a major shift in balance to a position of 19% lower than equilibrium.
However, the marine analytics unit said it anticipates the capacity cuts - expected to become more drastic after the Lunar New Year - will keep top fleet growth at "comparatively low". for agriculture” 1.9%.
“Now that the container bubble has burst, the record frenzy of orders for 2021 and 2022 – which has so far reached around 6.7 million teu contracted – now even seems overwhelming,” Drewry said. level.
Carriers could benefit from higher contract revenue in Q1, but with old agreements expiring and new deals set at much lower rates, the industry's P&L account, seemingly as much less healthy.
According to many maritime experts, the global port and shipping industry will face many difficulties in 2023 as the economic downturn negatively affects trade as well as shipping output. However, there are still a few factors that positively support the industry outlook in 2023, including: (1) the shortage of containers has been resolved thanks to the additional supply of containers in 2022, (2) China is reopening, which will boost global trade and consumption, (3) the average Brent oil price is forecast to remain around $90 per barrel in 2023, which will help reduce costs fuel costs for shipping businesses and promote global trade. In a relatively complicated context, it is forecasted that in 2023 the global shipping and port industry will face many great challenges.
According to Alphaliner, the number of new shipbuilding orders continues to increase, bringing current orders to 27.9% of total market capacity – the highest level since 2012. Oversupply will put pressure on prices. sea freight in the near future. Business results of shipping lines have a certain lag with fluctuations in sea freight rates because time charter contracts are usually signed from 6-12 months. Thus, the impact of the reduction in sea freight rates will clearly affect Vietnamese shipping lines in the period of 2023-24.
In recent years, “logistics digital transformation” has become a familiar buzzword across industry forums. Yet inside many day-to-day operations, the reality remains mixed: different software for different functions, heavy reliance on Excel and phone calls, and data trapped within departmental silos.
After a challenging period characterized by global market volatility, Vietnam’s paper industry is entering a new recovery cycle with optimistic signals.
As global supply chains continue to shift and the air cargo industry enters a new phase of post-pandemic restructuring, Southeast Asia is increasingly positioned as a strategic air logistics hub on the global map
Recently, Glotrans Central Region successfully hosted the Year End Party 2025 in a formal, warm, and highly connected atmosphere, with the presence of the Board of Management and all employees from Glotrans Da Nang and Glotrans Quy Nhon offices.
On the occasion of the Lunar New Year, as spring approaches, this is also a meaningful time for Glotrans HCM to look back on the journey we have gone through and to express our sincere appreciation for the dedication and contributions of all employees who have worked tirelessly for the development of the branch. Glotrans HCM successfully held the Year End Party 2025 with the attendance of the Board of Directors and all staff of the Ho Chi Minh City branch.
Recently, Glotrans successfully held the Year End Party 2025 for the Northern Region in a formal, warm, and highly connected atmosphere. The event provided an opportunity for the Board of Management and all employees to look back on the company’s journey throughout 2025, review achieved results, and align on development directions and strategic objectives for 2026.
The shipment of food additives was transported in container No. FCIU3301688 (20’), under B/L MPRSMUM1806, on the voyage from Nhavasheva Port (India) to Dinh Vu Port (Hai Phong, Vietnam) on 29/04/2017.
Company T (Plaintiff – the Insured) entered into an insurance contract with Company B (Defendant – the Insurer). After the insured event occurred, the Insurer alleged that the Insured had violated its obligation to prevent and mitigate losses. The Arbitral Tribunal acknowledged that such an obligation exists but concluded that the Insured did not breach it.
Under the insurance contract, the premium was to be paid in three installments, and in all three, the insured party was late in payment. When a dispute arose, the insurer (Defendant) argued that the insurance contract had terminated before the insured event occurred due to the late premium payment and therefore refused to make an insurance payout. However, the Arbitral Tribunal held a contrary view.
