The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index surged 36.7 percent since last week’s reading to a reading of 752.65, with rates on the Shanghai to Northwest Europe trade jumping 77.4 percent to $1,206 per TEU.
The shipper advocacy group said some carriers and other service providers to the shipping industry appear to be exploiting the new new verified gross mass rule by imposing exorbitant and unjustified charges for ‘administration fees’ and other ‘services.’
The container terminal operator reached an agreement with joint venture partner Aarhus Service Holding for the purchase of the remaining 40 percent of the existing APM Terminals-Aarhus terminal.
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FedEx's freight forwarding arm has hired Cindy Allen, while Megan Montgomery will take over day-to-day management of the National Customs Brokers and Forwarders Association of America.
Guillermo A. Sanchez-Badia of Miami was sentenced late last week to 12 years in prison for his role in a scheme to defraud two commercial lenders and the U.S. Export-Import Bank out of more than $11 million.
The Panama Canal's third lane opened for business, following Sunday's transit of the 9,472-TEU COSCO Shipping Panama.