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...Maersk is a bellwether of global trade, carrying about a fifth of ocean freight....
...“While air freight remains significantly more expensive than ocean freight . . . our clear view based on dialogue with our customers is that the consequence of empty shelves or a halt to production far exceeds...
...Freight rates from east Asia to the Mediterranean are up 290 per cent compared with early November, according to the Freightos Baltic index, with a similar growth in the Asia to north Europe route....
...These days the real chokepoints of globalisation are more varied in function and location, from the ocean floor to space orbit, and their resilience more uncertain....
...Chinese companies have increased exports because of overcapacity in their domestic factories, and have no alternatives to using sea freight....
...“If 1 per cent of ocean freight switched to air, it would more than fill all the capacity.” Charted waters Expected cuts in interest rates are good news for global growth and hence for trade....
...Cargill’s head of ocean transport has called on the shipping industry to give wind power a chance in its efforts to decarbonise, as one of the world’s largest marine freight operators prepares to test the...
...Carmakers fear what Carlos Tavares, chief executive of Stellantis, calls “jumping in the red ocean” with a price war....
...The channel between the Pacific and Atlantic Ocean is operating at only 55 per cent of its normal capacity, according to Capital Economics....
...That explains why freight rates and share prices were in the doldrums....
...The survey reported that rising ocean freight rates contributed to the cost burden for factories, with these rising at the fastest pace since March 2023....
...Clerc’s voice carries weight: Maersk is seen as a bellwether of global trade, carrying about a fifth of ocean freight....
...freight shipping rates,” said Emily Stausbøll, market analyst at Xeneta, a shipping data firm....
...Considering that total issuance of green, social, sustainable and sustainability-linked (GSSS) bonds added up to $4.6tn, he said, this looked like “a drop in the ocean, if you’ll excuse the pun”....
...Smart read The World Meteorological Organization sounded a “red alert” on the climate change behind record surface and ocean temperatures, glacial retreat and rising seas during the warmest 10-year period...
...Southeastern shift The powerful earthquake that struck the ocean near Taiwan on Wednesday morning, killing at least nine people and shaking the island’s critical high-tech industries, may well serve as...
...Amazon executive Dave Clark was the perfect candidate to run freight start-up Flexport....
Shares are soaring but debt levels mean investors should worry about sector running out of steam
...The canal authority said October was the driest in the region since 1950, partly fuelled by the El Niño phenomenon, which warms the Pacific Ocean and affects temperature and rainfall around the world....
...But Christian Sur, executive vice-president of ocean freight at Unique Logistics, said: “The question is always the same....
...A version of this article was first published by Nikkei Asia on January 16. ©2024 Nikkei Inc. All rights reserved....
...But when freight rates rose to record highs during the pandemic, profits soared, infuriating customers who faced severe delays importing and exporting goods through congested ports....
...Dawn in the south Pacific was blinding, the low sun reflected across a glittering ocean....
...The current hostilities also underline the risks of leaving the policing of ocean trade to a single superpower....
...Manufacturers produced an average of about 3.2mn TEUs of new containers each year in the decade up to 2020, according to freight booking platform Freightos....
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