The crew has abandoned car-carrier Felicity Ace, which was ablaze off the Azores. The fire is estimated to have damaged cargo worth $401 million. Source: The Loadstar
The state government of California has moved to lease six off-dock properties, with a standing capacity of some 20,000 containers as part of a plan to ease congestion. Source: The Loadstar
Container spot rates from Asia to the US west coast spiked last week, ahead of the Chinese New Year holiday on 1 February. Source: The Loadstar
Two additional container berths at Ningbo-Zhoushan port have been opened temporarily for international vessels to reduce the pressure on container cargo handling. Source: Seatrade Maritime
As long-staying cargo in the ports reduces further, the Ports of LA and LB have now delayed the introduction of container dwell fees until at least 28 January. Source: Seatrade Maritime
The Panama Canal, a pivotal artery in the heart of global trade, is currently facing an unprecedented challenge. The severe drought of 2023 has not only impacted the canal’s operations but has also sent ripples across the global maritime industry. This article delves deeper into the current situation, its implications, and the broader concerns about…