Spiralling ocean container shipping market set to peak, but will not bring an end to shippers’ problems

The dramatic spike in the ocean freight container shipping market is reaching its peak as importers push back against spiralling spot rates. Data released by Xeneta today, Monday, shows average spot rates from the Far East to US East Coast increased by 3.7% on 15 July to stand at USD 10 045 per FEU (40ft …

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Yemen-based Houthi militants attack multiple ships in Red Sea; one damaged

Three ships experienced multiple attacks off the Red Sea coast of Yemen on July 15, of which one suffered minor damage, security analysts and the UK Maritime Trader Operations said, as Iran-backed Houthi militants continued their campaign to disrupt international shipping. Via their social media account on X, formerly known as Twitter, the UKMTO said …

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KR Hosts 19th European Committee Meeting in London, Highlighting Decarbonization and Digitalization Advances

KR held the 19th KR European Committee (KREC) meeting in London, UK, on July 1st. The KREC, established in 2004, includes members from major international maritime organizations and key European KR customers as follows: Oil Companies International Marine Forum (OCIMF) International Association of Independent Tanker Owners (INTERTANKO) International Chamber of Shipping (ICS) Baltic and International …

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