Maritime Magazine

  Long-term ocean freight rates slid once again in August, marking the 12th consecutive month of declines for beleaguered carriers. According to the latest real-time data from the Xeneta Shipping Index (XSI®), contracted rates fell 7.8% in August, meaning prices have now dropped 62.7% since this time last year. The world’s busiest routes – exports from

  More than one year of uncertainty has ended at U.S. West Coast ports with the ratification by some 20,000 dockworkers belonging to the International Longshore and Warehouse Union (ILWU) of a tentative contract reached in June with port employers represented by the Pacific Maritime Association (PMA). This follows an agreement reached In early August

  Just released statistics confirm a present downward trend of containerized cargo at the Port of Halifax, with Q2 2023 throughput of 137,774 TEUs representing a decline of 12% from a year earlier. “It’s the result of overall weakness in the global economy and is consistent with what is happening with ports and supply chains across

  Crown Prince Mohammed bin Salman has unveiled a master plan for logistics centers to enhance Saudi Arabia’s position as a leading investment destination and transform it into a global logistics hub. Part of the National Transport and Logistics Strategy (NTLS), the ambitious blueprint seeks to capitalize on the Kingdom’s geographical location connecting three major

  With 32 operations scheduled over the next two months, the peak cruise season promises to be particularly intense and beneficial for Montreal.. A total of nearly 70 000 passengers and crew members are expected in Montréal by the end of October, an increase of more than 40% compared to 2022, which testifies to the

  South Korean shipbuilder Hyundai Samho Heavy Industries has taken the use of artificial intelligence in shipping another step forward by delivering the world’s first ship equipped with an AI-based engine automation system. The vessel is a 180,000-ton, LNG-powered bulk carrier delivered to H-Line. “With the commercialization of this engine automation solution, we are one

  The Department of Commerce and the National Oceanic and Atmospheric Administration (NOAA) announced the availability of up to $28 million across two funding opportunities to address marine debris throughout the coastal U.S., Great Lakes, territories and Freely Associated States. These two Fiscal Year 2024 funding opportunities are part of NOAA’s Climate-Ready Coasts initiative under

  The Port of Halifax hosted a shoreside celebration to honour the 150th Anniversary of Holland America Line and 30 years of Holland America Line cruise ship calls at the Port of Halifax. A welcome celebration yesterday featured ceremonial drumming by the Mi’kmaw Native Friendship Centre and traditional piping courtesy of the Halifax Citadel Society. Following that,

  After two very profitable years for the global container shipping lines, the market has shifted dramatically downwards, according to the latest report by Sea-Intelligence. While the fourth quarter of 2022 gave a first glimpse of what was transpiring, the first quarter of 2023 was the first quarter where the carriers’ operating profits took a