Record imports over the last several months at West Coast ports, driven by the recent East Coast and Gulf Coast strike diversions and ongoing Red Sea issues, are leading to congestion on the rails, as holiday goods and everyday items pile up. Almost half of the...

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Peru’s massive Chancay port, which authorities hope will become a major shipping hub for South America-Asia trade, willship two container ships a week beginning late next month, an executive for port operator Cosco Shipping said on Friday. After the port’s...

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Iran exported its first-ever crude cargo outside the Persian Gulf, according to satellite images and local reports, marking a small but significant expansion to the country’s oil export options as Tehran faces retaliatory strikes by Israel which could target oil...

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As a global leader in ship registration and maritime services, Panama continues to build strategic partnerships with member states of the International Maritime Organization (IMO) and global players in the maritime industry. Luis Roquebert, Minister of Maritime...

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Hanwha Ocean, one of South Korea’s leading shipbuilders, announced on Oct 10. that it has secured a contract to build six containerships for a European client. Valued at 1.6932 trillion won (approximately $1.24 billion), this deal represents 22% of the company’s 2022...

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Container freight rates oscillated dramatically between January 2023 and October 2024. Freight rates slumped to their lowest level on the 26th of October 2023, when the going rate for a 40-foot container was only 1,342 U.S. dollars. Since then, the global freight rate...

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