(Bloomberg) -- The House passed legislation Wednesday that provides the first major update of U.S. international ocean-shipping laws in more than two decades as the nation grapples with bottlenecks at its ports that are crimping supply chains.
• Acquiring U.S.-based Ingram Micro CLS will accelerate the Group’s supply chain capabilities in contract logistics and eCommerce expertise.
• Key catalyst for CMA CGM Group’s subsidiary CEVA Logistics’ development in high-growth eCommerce segment, especially in U.S., European markets.
• CEVA Logistics to become the fourth-largest global contract logistics provider.
1 Ocean rates stayed level but still extremely elevated globally as port congestion remains a problem. Increases are likely as we get closer to Lunar New Year in February.
2 With only a couple weeks until the holidays, air cargo peak season is at its height. Demand is putting even more pressure on rates than usual as capacity is reduced by limited passenger travel – possibly to be made worse by omicron fears – ground handling shortages and tougher quarantine restrictions for pilots in places like Hong Kong.
3 Freightos data shows China-N. Europe rates have increased more than 30% since the start of November to $7.84/kg and China-US West Coast rates have climbed past their record high set during the PPE rush in May 2020.
Shipping company Stena Line continues to invest in Stockholm Norvik Port and the Baltic Sea. In February a brand new route will be introduced between Stockholm Norvik Port and Hanko in Finland. Ports of Stockholm’s new major port has been built to provide good preconditions for shipping companies to grow and develop.
AJOT | December 03, 2021 | Maritime News | Bulk | By The Numbers
We are now in December and the tanker market remains surprisingly weak. At the time of writing, rates in the MR segment are around USD 8,000 per day – double the level earlier this autumn, certainly, but still some way below what an MR vessel requires in order to break even. The same applies to crude oil tankers like the Suezmax vessels.