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The composite index inched up 0.6% or $27 this week, and also, remains 220.9% higher than a year ago. The average composite index of the WCI, assessed by Drewry for year-to-date, is $5,122 per 40ft container, which is $3,350 higher than the five-year average of $1,773 per 40ft container. Drewry’s composite World Container index further …

Drewry: World Container Index up 0.6% on Weekly and 220.9% on Yearly Basis Read More »

Regional disparities could unsettle the relatively positive short-term outlook for trade and the economies as both recover from the Covid-19 pandemic. According to the latest figures from the World Trade Organization (WTO), the volume of world merchandise trade is expected to increase by 8.0% in 2021 after having fallen 5.3% in 2020. Trade growth is …

Regional variations threaten trade positivity Read More »

The Ever Given was freed on March 29. Five days later, the managing director of the Suez Canal Authority (SCA), Adm. Osama Rabie, declared that all the ships blocked by the accident had transited “in record time.” Numerous media outlets reported that the backlog had been cleared. End of story. Well, not so fast. If …

Suez Canal still not back to normal — but it’s getting closer Read More »

As part of COVID-19 safety the US has introduced new safety requirements in the maritime transportation system. This requires all persons, including crew members on board ships proceeding to and trading within the waters under US jurisdiction to wear a face mark while boarding, disembarking and for the duration of the travel. Crew members and …

Masks to be worn on commercial ships while trading in US waters Read More »

Kongsberg Digital has signed a contract with the Panama Canal Authority (ACP) to upgrade and extend the K-Sim Navigation simulators based in SIDMAR; the Center for Simulation, Research and Maritime Development of the Panama Canal Authority. Equipped with the new technology, the Panama City-based center will be able to include multiple vessels in training scenarios …

Kongsberg Digital to provide the Panama Canal Authority with simulators for multi-vessel training scenarios Read More »