NEWS

US president Biden signs the Ocean Shipping Reform Act into law
US president Biden signs the Ocean Shipping Reform Act into law

US president Joe Biden signed into law the Ocean Shipping Reform Act (OSRA) on 16 June, which authorizes appropriations for the Federal Maritime Commission (FMC) for fiscal years 2022 through 2025.

SITC exits dry bulk segment after selling off its entire fleet
SITC exits dry bulk segment after selling off its entire fleet

SITC International Holdings has completed the sell-off of its entire bulk carrier fleet. The Hong Kong-based SITC, the parent company of intra-Asia box carrier SITC Container Lines, marks its exit from the dry bulk segment as the group wants to focus on its core container shipping business.

CMA CGM keeps air cargo results to itself, but spends big on aircraft
CMA CGM keeps air cargo results to itself, but spends big on aircraft

CMA CGM has spent some $753.3m in prepayments on its aircraft orderbook, up from $723.2m at the end of 2021, following its recent order for two 777 freighters, set to deliver in 2024. Meanwhile, the first of its previous order for two 777Fs joined the fleet on 31 May, with the second “in the process of being delivered”.

Cargo delays have caused US$5-10 billion losses for shippers during Covid-19 pandemic
Cargo delays have caused US$5-10 billion losses for shippers during Covid-19 pandemic

The Danish maritime data analysis company, Sea-Intelligence has measured schedule reliability from the perspective of the cargo being moved.

Shanghai port congestion returns to normal
Shanghai port congestion returns to normal

As Shanghai springs back to life after two months of lockdown, congestion at the port is almost back to normal, according to the latest data from VesselsValue.

Top 5 Biggest Bulk Carriers In the World
Top 5 Biggest Bulk Carriers In the World

Bulk carriers are maritime vessels designed to carry loose bulk cargo like grains, cereals, coal, ores, iron, steel, cement etc. Today bulkers comprise 21 per cent of the global shipping fleet and most of them are registered in Panama. A leading builder of bulk carriers is South Korea whose shipyards have produced 80 per cent of the Very Large Ore Carriers.

Understanding Shipping Container Numbers
Understanding Shipping Container Numbers

Currently, the container capacity of 5 of the world’s major players in container transport is estimated at 16.4 million TEUs (Twenty Equivalent Units). More than 90% of global cargo is transported by multimodal containers.

Shanghai port operations normalising as lockdown tapers
Shanghai port operations normalising as lockdown tapers

Operations in Shanghai port are getting back to normal as the city’s lockdown eases. CMA CGM said in its latest customer advisory that pressure on Shanghai yard resources is easing, while the waiting time for ships in the Waigaoqiao port area has shortened as more port employees resume work.


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