The rates in the ocean freight shipping industry are experiencing a significant upsurge and for the first time since the lockdown in 2020, container shipping rates are nearing record highs. The price hike can be attributed to several factors including limited container supply caused by rerouting around the Red Sea, strong demand in multiple regions,…
In recent decades, the Indian Government has implemented various initiatives to enhance the country’s transportation and logistics industry, fostering increased profitability for both multinational corporations and independent freight forwarders. It is estimated that around 14 percent of India’s GDP is dedicated to the supply chain and logistics sector, a proportion nearly twice the average logistics…
Starting January 15, 2024, there is an anticipated nearly 15% increase in Suez Canal fees for most types of vessels, excluding container vessels departing from North European ports, which will have some exemptions. According to the Suez Canal Authority (SCA), container vessels, car carriers, chemical, crude, and product tankers, as well as gas carriers, will…
The unexpected warming of the eastern Pacific Ocean, commonly known as the El Niño phenomenon, has joined the constantly increasing list of climate-induced weather events disrupting the global ocean freight shipping industry. Experts in maritime analysis suggest that the emergence of El Niño, a naturally occurring phenomenon that typically recurs every two to seven years,…
According to the International Air Transport Association (IATA), global air cargo volumes are projected to decline by 4 per cent in 2023 compared to the previous year. This downward trend which is attributed to the challenging economic conditions prevailing worldwide can be a problem for air freight forwarders. IATA’s latest forecast, released on Wednesday,…
In today’s article, we have made a compilation of the top news from the transportation and logistics industry to keep you informed about the latest trends, developments, and innovations in the sector. This knowledge can help you stay ahead of the competition, be updated with the latest trends, and identify potential risks and take proactive…
The cost of fuel which has been on the rise even since the Russia-Ukraine war has now become an ever-growing headache for the freight forwarding industry. The supply chain sector is closely interlinked with the fuel industry as practically all commodities’ supply chain is impacted by it. No matter if the product is moving from…
On the 5th of June 2022, a fire broke out at the container terminal close to Chittagong port causing unprecedented loss of lives and property. According to senior port officials, there has been almost 50 fatalities and numerous injuries. While the loss of lives and properties is the biggest tragedy in the shipping industry this…
The container shipping industry is preparing for renewed chaos, disruption, congestion, and backlogs as Shanghai restarts its manufacturing and supply chain operations after two months of strict lockdown. A recent survey by Container xChange suggests that this year’s summer peak season cargo surge will be even more chaotic for global supply chains than the 2021…
The Digital twin (DT) technology which has made its way into several sectors is increasingly finding a place in the freight forwarding industry alongside Blockchain and Artificial Intelligence. The recent launch of Google’s Supply Chain Twin – a cloud-based solution that allows companies to create a digital twin- has finally heralded the full-fledged adoption of…