The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index surged 36.7 percent since last week’s reading to a reading of 752.65, with rates on the Shanghai to Northwest Europe trade jumping 77.4 percent to $1,206 per TEU.
An American Shipper poll of shippers and forwarders revealed that nearly 90 percent believe at least some cargo will be delayed by the verified gross mass rule that went into effect globally today.
The U.S. Commerce and Energy departments have started an industry advisory group, along with their counterparts in Mexico, to make recommendations to strengthen cross-border trade and investment in the energy sector.
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INTTRA has secured commitments from five of the top seven global forwarders for its eVGM product, which allows container weight verification data to be transmitted electronically to carriers.
The freight forwarding arm of Danish shipping conglomerate AP Moller Maersk said it will provide weighing and data transmission services to help shippers comply with new SOLAS verified gross mass requirements.
Due to the deterioration of container freight rates and the subsequent drop in carrier financial results, analysts with Drewry Maritime Equity Research foresee a possible combination of Korean and Japanese carriers.