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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French trucking operator Jacky Perrenot will acquire the container transportation activities of CMA CGM subsidiary Greenmodal Transport, according to a report from Lloyd’s Loading List.
The U.S. Department of Transportation is looking into how delays at ports and other loading and unloading facilities may be affecting driver compliance with hours-of-service rules designed to increase safety.
Choi Eun-young, former head of South Korean ocean carrier Hanjin Shipping, was summoned by prosecutors Wednesday over suspicions of insider trading.