NEWS

Greeks and Chinese dominate global fleet market
Greeks and Chinese dominate global fleet market

"The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships owned by Greek and Chinese shipping companies contribute 34% of the total fleet’s deadweight tonne capacity," says Niels Rasmussen, chief shipping analyst at BIMCO.

ICTSI increases revenues and profits in 2023 9M
ICTSI increases revenues and profits in 2023 9M

International Container Terminal Services, Inc. (ICTSI) reported unaudited consolidated financial results for the nine months of 2023 posting revenue from port operations of US$1.76 billion, an increase of 7% compared with the same period in 2022.

Typical Q4 spike in box volumes yet to be seen in Oakland
Typical Q4 spike in box volumes yet to be seen in Oakland

The port of Oakland's September container volume remained relatively steady compared with August box throughput reaching 134,186 TEUs, marking a slight 1.2% increase over the same month in 2022.

Port of Oakland receives US$1.2 billion funding for hydrogen projects
Port of Oakland receives US$1.2 billion funding for hydrogen projects

Federal and state funding is on the way for hydrogen projects at the Port of Oakland. This is because the Biden administration announced on 13 October that California will receive up to US$1.2 billion as a designated hydrogen centre.

Blank sailings boost Ningbo Containerized Freight Index
Blank sailings boost Ningbo Containerized Freight Index

The composite Ningbo Containerized Freight Index (NCFI) quoted 622.2 points in Week 41, which improved 4.8% from the previous week and has remained on an upward trend for two back-to-back weeks.
 

Chinese ports exceed 200 million TEUs in 2023 so far, Shanghai and Ningbo remain on top
Chinese ports exceed 200 million TEUs in 2023 so far, Shanghai and Ningbo remain on top

Container volume at China ports rose by 4.8% in the January-August period, compared to the same months last year. The container throughput of Chinese ports was 203.7 million TEUs, while for the same period, the cargo volume of major Chinese ports was 11.1 billion tons, translating to an 8.4% rise year-on-year.

Japan’s container volumes decrease for four consecutive months
Japan’s container volumes decrease for four consecutive months

Oceangoing containers to and from Japan's six major ports totaled 1.13 million TEUs in July, which slid 8.7% from the corresponding month of the previous year and have registered a year-on-year decrease for four consecutive months.

CN analysis: Demand pressure continues to stall rate recovery on trades out of India
CN analysis: Demand pressure continues to stall rate recovery on trades out of India

With the exception of trades to Europe and the Mediterranean, container freight rates out of India have seen no noticeable recovery signs for carriers, according to the latest market analysis by Container News.


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