Shipping news

[Behappyalways]

Container Shipping’s Idled Fleet Set to Soar Next Year
https://gcaptain.com/container-shippings...next-year/

[weijian]

Recently I listened to a podcast on Bloomberg's Oddlots and a long time shipping executive commented "A shipping glut may not lead to shortages but a shortage probably will lead to a glut."

Idled Ships, Empty Containers. Ocean Shipping Faces Its Biggest Slump in Years.

China’s exports fell nearly 10% in December from a year ago, the third straight month of declines and the biggest drop since Beijing locked down the port city of Wuhan in early 2020. The falling volumes have pushed global ship freight rates into a downward spiral, with the cost of sending a box from China to Los Angeles dropping to $1,238 this week from $15,600 this time last year, according to the Freightos Baltic Index.

https://www.wsj.com/articles/idled-ships...s-6f8dfcc4

[Behappyalways]

Other carriers continued to post strong results through the first quarter of this year, buoyed by high rates on one-year contracts that ran from May 1, 2022, to the end of last month.

Shipping line Zim gets hammered by high spot-rate exposure
https://www.freightwaves.com/news/shippi...e-exposure

[Behappyalways]

Container ships are waiting at Asian ports as retailers struggle to shift excess stock
https://www.cnbc.com/2023/08/25/ships-wa...tock-.html