June 25, 2024
Sea Freight
The world of freight and logistics moves fast. Really fast! So we’ve pulled together a logistics roundup, containing the latest sea freight news!
The Red Sea
Disruption continues in the Red Sea. Vessels are still being diverted via the Cape of Good Hope, causing delays to sea freight shipments, and this has had a knock of effect to container availability, especially in Asia. This has also led to the Shanghai Containerized Freight Index (SCFI) seeing a spike in container prices.
Port of Baltimore
Following the incident in the Port of Baltimore, the deep channel is now open again, with the port fully operational.
The Dali cargo ship has also left the port, with a scheduled stop at Virginia International Gateway to have c. 1,500 containers off-loaded, prior to travelling to Norfolk International Terminals where further repairs to the ship will be made.
The Gemini Cooperation
Maersk and Hapag-Lloyd announced a new partnership called the Gemini Cooperation which will begin in February 2025. The Gemini Cooperation will establish a ‘hub and spoke’ network, and the alliance will operate 26 mainline services and have dedicated regional shuttles in Europe, the Middle East, Asia Pacific, and the US Gulf.
Maersk will contribute 60% of the tonnage, with Hapag-Lloyd providing the remaining 40%, resulting in a combined capacity of 3.4 million TEU. The new alliance will make the Gemini Cooperation the second-largest global container shipping alliance, behind the Ocean Alliance.
Potential East Cost UK Container Port Strikes
Talks in the US between US ports and port worker representatives have recently broken down, with future strike action a real possibility; the current labour agreement runs until 30th September and covers 45,000 workers.
We understand talks will re-open, and we will monitor the situation for any developments over the coming weeks.
New Services
New ocean freight services from the UK to Gibraltar, Turkey and Morocco have been announced by DFDS, MSC and WEC respectively. These new routes will offer an efficient and environmentally friendly means of transporting goods to these destinations.
MSC, CMA CGM and Cosco have also launched new services between China, South Korea, Japan and Mexico, capitalising on growing Asia-to-Mexico trade.
The Green Agenda
DFDS have announced a €1 billion investment in 6 electric battery vessels. DFDS expect the first 2 vessels to be operational by 2030, with the other 4 vessels operational before 2035.
All 6 vessels will operate in the English Channel, travelling on the Dover-Calais and Dover-Dunkirk routes, carrying passengers and freight.
So how can we help with your sea freight shipping requirements?
Here at AGI we have a huge amount of experience in all modes of transport, including sea freight. Whether your shipping needs include air, road, rail, or sea, we’ll have the perfect solution for you! If you would like to find out more, please get in touch. And for all of the latest AGI news, don’t forget to follow us on LinkedIn and Facebook!