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...Maersk’s share price has risen by a quarter in the past month as container freight rates have shot up....
...A senior UK port industry executive said the contingency plan was a recognition that applying full border checks designed for unaccompanied container freight to high-speed, “roll-on, roll-off” ferry traffic...
...That seems to be the strategy adopted by big container shipping companies....
...The Red Sea disruption follows the end of a boom during the Covid-19 pandemic, which sent freight rates soaring and generated huge windfalls for container groups....
...freight rates....
...The shift in transport mode, mainly a result of decisions by big container shipping line to send ships around the Cape of Good Hope, has helped push up air freight costs....
...Simon Heaney, senior manager in container research at London-based Drewry Shipping, said the diversions had reversed a steady downward trend in freight rates since the end of Covid restrictions....
...Spot rates for shipping containers were at that point above $20,000 a 40ft container....
...“This will ensure that freight reaches its destination, albeit with a slight delay.”...
...for the biggest container groups....
...Figures from Eurasian Rail Alliance, a Russian company that organises freight movement on railways using Russia’s 1,520mm rail track gauge — wider than European tracks — show that container rail movements...
...But as Petersen points out, a container ship holds 10,000 40-foot containers while a Boeing 747 holds seven. “If 1 per cent of ocean freight switched to air, it would more than fill all the capacity.”...
...industries”, and its production and transport infrastructure is unmatched compared with those in most south-east Asian countries, said Andrea Currone, vice-president of Asia operations at Berlin-based freight...
...From scanning the tens of millions of containers transiting the EU’s two biggest container ports — Rotterdam and Antwerp — to the luggage of passengers at Brussels’ Eurostar terminal....
...Container ships have been diverted round the Cape of Good Hope, at extra cost and journey times, but there hasn’t been a big reduction in overall freight volumes....
...A rebel-provoked rally in freight rates might help soften that. But the fundamentals of too many container ships on the seas will be a more powerful force dictating earnings in the coming years....
...Disruption in the Red Sea because of attacks by Houthi rebels in Yemen has led most container lines to send their vessels around the bottom of South Africa rather than through the Suez Canal, pushing freight...
...Attacks by Iranian-backed Houthi rebels on container ships navigating the Red Sea stopped the westward flow of presents this Christmas....
...The container line operator reported steep falls in profits and revenues compared to last year....
...Denmark’s Maersk, the world’s second-biggest container shipping line, confirmed that it had chartered Dali....
...freight shipping rates,” said Emily Stausbøll, market analyst at Xeneta, a shipping data firm....
...With the detour around Africa taking ships an extra seven to 20 days, this has pushed up freight rates for a standard container transported from China to Northern Europe from about $1,500 in November to...
...Container freight rates on east-west trades have more than doubled in four weeks....
...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....
...Recent Houthi attacks on container ships in the Red Sea have begun to push up air freight rates and shown fresh pockets of demand for such services....
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