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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An American Shipper report released Tuesday found that nearly three-quarters of shippers and forwarders believe they will have containers held when the new verified gross mass mandate kicks in July 1.
However, the International Maritime Organization's Maritime Safety Committee said there should be no delay in the implementation of the verified gross mass rule.
The 19 ocean carrier members of the Ocean Carrier Equipment Management Association are collaborating with six U.S. ports to establish a harmonized container weighing process.