Page 3 - Shipping Industry

China's worse-than-Suez ship congestion set to widen global trade chaos

Yantian Port says it will be back to normal by the end of June, but it may take months for the cargo backlog in southern China to clear while the fallout ripples worldwide.

Out-of-control shipping costs fire up retail prices from coffee to toys

Soaring demand, shortage of containers, saturated ports and too few ships have contributed to the squeeze on transportation capacity on every freight path.

Global shipping crisis result of uneven post-Covid recovery of countries

The crisis in the global shipping industry has been largely on the back of uneven post-Covid recoveries of the major importing and exporting countries, according to a report by Drip Capital

Statsguru: Commodity supercycle may hurt India amid Covid-19 pandemic

After a year of limited activity, several economies are expecting a faster-than-usual bounce back to normal. This has led to an increase in commodity prices across the board

Gain for shipping players as Baltic Dry index touches 10-year high

Shipping Corporation of India, Great Eastern Shipping, Tolani Shipping, and Essar Shipping are into bulk carriers along with other segment fleets in the domestic market

Supply lines at risk as shipping containers topple over at alarming rate

Millions of dollars of cargo sinks to the bottom of oceans as pressure to speed deliveries raises the risk of safety errors.

Egypt seizes Suez Canal ship 'Ever Given' pending $900 mn compensation

Company that owns vessel says the crew is still on board the ship, which is now in Great Bitter Lake, about halfway along the canal.

Egypt seeks settlement out of court for Suez Canal blockage

The Suez Canal chief said Tuesday that authorities are negotiating a financial settlement with the owners of a massive vessel that blocked the crucial waterway for nearly a week. Lt. Gen. Osama Rabie told The Associated Press he hoped talks with Shoei Kisen Kaisha Ltd., the Japanese owner of the skyscraper-sized Ever Given, will conclude without a lawsuit. We are discussing with them a peaceful resolution to the matter without resorting to the judiciary, he said. He maintained that bringing the case before a court would be more harmful to the firm than settling with the canal's management. The canal chief said last week the Suez Canal Authority was expecting more than $1 billion in compensation, warning the ship would not be allowed to leave the canal if the issue of damages turns into a legal dispute. That amount takes into account the salvage operation, costs of stalled traffic and lost transit fees for the week that the Ever Given blocked the canal. He did not specify then who .

Fraught with challenges: Ship salvaging industry rides on rough waters

The rescue of the cargo ship that choked the busy Suez Canal has put the spotlight on a sector

Suez Canal shipping backlog ends, days after giant vessel freed

The last 61 ships, out of 422 ships that were queuing when the vessel was dislodged on Monday, passed through the vital trade artery on Saturday

Traffic congestion eases further in Suez Canal after ship unblocked

The traffic congestion caused by a cargo ship that blocked the Suez Canal for nearly a week continued to ease on Friday

Egypt may seek $1 bn in damages over lost revenue due to Suez crisis

The figure is a rough estimate of losses linked to transit fees, damage to the waterway during the dredging and salvage efforts, the Suez Canal Authority's chief said

Container vessels to India will lose time window due to Suez traffic

Some bunching at Chennai and JNPT, bulk and liquid vessels to be less impacted

The Suez Canal crisis is over, now it's time to add up the damages

Delays are adding to pressures on fragile global supply chains

Suez Canal races to clear backlog as shipping convoys resume

ISMAILIA, Egypt (Reuters) - The Suez Canal expects 140 ships to pass on Tuesday after the freeing of a container ship stranded for nearly a week allowed it to reopen, but disruptions to global shipping and at ports could take months to resolve, experts warned.

Giant container ship blocking Suez Canal finally freed after 6 days

Data estimates say it could take more than 10 days to clear the backlog of ships with more than 367 vessels piled up on either end of the canal

'She's free': Traffic in Suez Canal resumes after stranded ship refloated

Key waterway between Europe and Asia blocked since Tuesday; at least 369 vessels waiting to transit canal

Ship backlogs from Suez chaos could take months to clear: Container lines

Around 30% of the world's shipping container volume - including goods like sofas, consumer electronics, apparel and shoes - moves through the 193 km (120 miles) Suez Canal daily

Ship 'partially refloated', but still stuck in Suez Canal to block traffic

The skyscraper-sized Ever Given is stuck sideways in the crucial waterway, creating a massive traffic jam.

Giant vessel blocking Suez Canal freed, logjam of 450 ships to be cleared

Breakthrough in rescue attempt came after diggers removed 27,000 cubic meters of sand, going deep into the banks of the Suez Canal.