The rates in the ocean freight shipping industry are experiencing a significant upsurge and for the first time since the lockdown in 2020, container shipping rates are nearing record highs. The price hike can be attributed to several factors including limited container supply caused by rerouting around the Red Sea, strong demand in multiple regions,…
Conqueror Blog
Tag: ocean freight shipping industry
Outlook for the Ocean Freight Shipping Sector in 2024
In the volatile ocean freight shipping, the years since 2020 have been a tumultuous journey. Moreover, with the remarkable rate hikes of early 2022 and the unprecedentedly low prices witnessed in 2023, sea freight forwarders are keen to unravel the uncertainties that lie ahead in 2024. Will there be a resurgence for container vessels, or…
The most expensive port projects undertaken in the last year
Since the start of last year, there have been over 80 important port construction projects. The net investments in these projects amount to over $39 billion. The new investments came at a time when the global ocean freight shipping industry was reeling under the impact of a pandemic, labour shortage, container shortage, and lack of…
How China is emerging as a leader in the ocean freight shipping industry
Years of economic development have positioned China as one of the foremost players of international maritime trade. Several factors like enhanced maritime connectivity, government prioritization, development of port infrastructure, etc. have generated fantastic economic benefits for the country. Simply put, in 2022 we are seeing a massive influence of the Chinese ports over the global…
Direct container ship between Chattogram to Europe will open up new horizons for the container shipping industry in Bangladesh
The movement of direct container ships between Bangladesh to Europe will breathe in a new life to the container shipping industry in Bangladesh. The first ship on this route is all set to leave Chattogram for the Italian Port of Civitavecchia in the first week of February. In today’s blog, we will plunge into the…
Container Shortage: Its Causes and its Impact on the pattern of maritime trade
The tremendous growth of consumer demands for commodities has made the sea freight shipping industry a pivotal support system for trade and commerce all over the world. As per a report by the UNCTAD, over 80% of international trade is carried on via sea freight thus making it the backbone of international trade. However, since…
A guide to demurrage and detention in the container shipping industry
A delay in the shipment of containers translates to considerable payment on the shipper’s part in the form of demurrage and detention charges. They are added to your shipment as soon as it surpasses the number of free days. These charges will keep accumulating until the shipment reaches the consignee’s destination. Although independent freight forwarders…