• $2,000 Per FEU Barrier Broken Last Week (08/08/18)
    JOC reported last week on August 3rd that eastbound Pacific spot rates surpassed a barrier level of $2,000 per FEU to the West Coast, and over $3,000 to the East Coast. This 10.5 rate increase to the West Coast is related to strong US import numbers, and JOC relays that “Carrier executives expect this scenario to continue well into August-October.” Early peak season missed shipments are being cited as more indications for higher expected volumes. (For more search “Asia-US West Coast rates” at https://www.joc.com)
  • Panama Canal Sees Its 4,000th Neopanamax Transit (07/31/18)
    This past week on Sunday, July 29th, “the Panama Canal registered the transit of its 4,000th Neopanamax vessel through the Expanded Canal,” since its inauguration of the massive project over two years ago in June of 2016. The milestone event occurred with the passage of the liquefied natural gas (LNG) tanker Maria Energy, with the LNG growing segment representing about 10% of transits. 52% of Neopanamax ships transiting the canal are container vessels (the largest segment), followed by 27% involving LPG carriers. (For more see news/press releases at https://www.pancanal.com/)
  • Cosco Shipping Suffers Cyber Attack (07/26/18)
    As another example of the continuing threat to the maritime industry, China’s Cosco Shipping experienced a cyber attack on Tuesday morning. The attack initially impacted company US operations, and the problem subsequently spread across the Americas.The shipper informed customers that its network was hit affecting Cosco systems and some email communications and provided some alternative operational options via the company website. Splash247 provided a statement from Cosco explaining, “We have and will continue to assess developments and take corresponding measures to minimize the impact of current events on business.” (For more, search “Cosco cyber attack” at https://splash247.com/)
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