Due to severe drought conditions, the Panama Canal Authority (ACP) has updated its navigation restrictions, reducing the daily number of ships passing through the canal from 32 to 31 starting in November. This not only poses challenges to the canals operations but also creates ripples in the global shipping industry.
Recently, CMA CGM announced the implementation of a new Peak Season Surcharge (PSS) for the Asia-South Africa route and adjusted freight rates for the Asia-Northern Europe route. The new PSS will take effect from August 21, with a charge of $300 per TEU, applicable to cargo from Northeast Asia, Southeast Asia, and all regions of China to South Africa. Additionally, starting August 1, the company will increase freight rates for the Asia-Northern Europe route, with new rates set at $1,075 per 20 dry container and $1,950 per 40 dry container, high cube, or reefer container.
On July 5, 2023, the TX BANGKOK vessel smoothly berthed at Berth 12 of the container terminal of Dalian Port, marking the official operation of the TX Philippines route. This added a container route in the RCEP region for Liaoning Port Group. The TX Philippines route is the first self - operated foreign - trade container liner route of TX Ocean in the Dalian port area, and it is planned to deploy 5 container ships of 1800 TEU.
PIL (Pacific International Lines) recently announced the launch of a new weekly direct service KCS from China and South Korea to Southeast Asia, connecting the major ports of China, South Korea, the Strait of Malacca, and Vietnam. The new service links 9 major ports in China, South Korea, Singapore, Malaysia, and Vietnam.
Recently, freight rates for international shipping routes from Shanghai to both the US West Coast and East Coast have risen, with increases of approximately 30% and 20% respectively.
Worlds top shipping companies reach agreement with Yemens Houthi rebels to ensure safe passage through the Red Sea, potentially shortening Asia-Europe shipping routes and impacting global freight rates.
Maersk Suspends Red Sea Operations, CMA CGM Significantly Raises Asia-Mediterranean Freight Rates, Shipping Industry Faces Major Challenges.
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PSB Record: Shanghai No.31011502009912
