15/01
2024
A Texas lighting company has filed a complaint with the Federal Maritime Commission seeking up to $2 million in relief from detention and demurrage (D&D) charges by COSCO Shipping. The company, Visual Comfort & Co. (VCC), alleges COSCO unfairly imposed the charges during congestion at ports in 2021-2022 instead of diverting shipments.
21/12
2023
Recent attacks on commercial ships transiting the Red Sea, including a missile strike on a Norwegian chemical tanker, have led major shipping companies to halt operations along the critical trade route. Container giants like MSC, Maersk, CMA CGM and several others have opted to suspend Suez Canal transits and instead sail around the Cape of Good Hope, adding significant costs and nearly 10 extra days to each journey.
05/12
2023
Container carriers are struggling with vast overcapacity, putting them on course for potentially disastrous losses in 2024 and beyond.