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Adani Ports and Special Economic Zone has announced the appointment of Niraj Bansal as CEO- Ports, effective from June 1, 2026. He will take over from Pranav Choudhary, who is stepping down from the position at the end of May. Bansal brings nearly three decades of experience in the ports, logistics, and infrastructure sectors. Before joining the Adani Group in 2022, he saved as Chairman-in-Charge of Jawaharlal Nehru Port Authority (JNPA), where he played a key role in improving cargo handling and port operations. Since joining Adani Ports, Bansal has held several senior leadership positions, including CEO of Hazira Port and CEO for new port project development in Maharashtra. He has been actively involved in operational expansion, infrastructure development, and strategoic growth initiatives across the company’s port network. The appointment comes at a time when Adani Ports continues to strengthen its presence in India’s maritime and logistics sector through capacity expansion and integrated supply chain solutions. Follow CARGOCONNECT for more such updates.
PSA Mumbai, the country’s largest container terminal located at Jawaharlal Nehru Port Authority (JNPA), has expanded its infrastructure with the inauguration of new Super Panamax Quay Cranes to improve cargo handling efficiency and boost port capacity. The inauguration ceremony was attended by PSA International Regional CEO Vincent Ng, PSA Mumbai Executive Director Ashwin Arvind and other dignitaries. The newly added cranes will enhance the operational capabilities of Bharat Mumbai Container Terminals Pvt. Ltd. (BMCTPL), helping increase container handling capacity, reduce vessel turnaround and strengthen logistics operations. Officials said the development highlights the growing collaboration between JNPA and PSA India in modernizing port infrastructure and establishing JNPA as one of India’s leading maritime gateways for global trade and commerce JNPA Inaugurates Advanced Cranes At India’s Largest Container Terminal PSA Mumbai, the country’s largest container terminal located at Jawaharlal Nehru Port Authority (JNPA), has expanded its infrastructure with the inauguration of new Super Panamax Quay Cranes to improve cargo handling efficiency and boost port capacity. The inauguration ceremony was attended by PSA International Regional CEO Vincent Ng, PSA Mumbai Executive Director Ashwin Arvind and other dignitaries. The newly added cranes will enhance the operational capabilities of Bharat Mumbai Container Terminals Pvt. Ltd. (BMCTPL), helping increase container handling capacity, reduce vessel turnaround and strengthen logistics operations. Officials said the development highlights the growing collaboration between JNPA and PSA India in modernizing port infrastructure and establishing JNPA as one of India’s leading maritime gateways for global trade and commerce. Follow CARGOCONNECT for more such updates.
India has taken a significant step towards strengthening its maritime infrastructure and shipbuilding ecosystem with the signing of a landmark tripartite Memorandum of Understanding (MoU) for the development of the country’s first mega greenfield shipyard at Thoothukudi in Tamil Nadu. The project is expected to become a strategic catalyst for India’s ambitions under the Maritime Amrit Kaal Vision 2047. The agreement has been signed between HD Korea Shipbuilding & Offshore Engineering (HD KSOE), National Shipbuilding & Heavy Industries Park Tamil Nadu Limited (NSHIP-TN), and Sagarmala Finance Corporation Limited (SMFCL). The proposed facility will have an envisaged annual capacity of 2.5 million Gross Tonnage (GT), positioning it among the largest shipbuilding facilities in the country. Located in the strategically important port city of Thoothukudi, the mega shipyard is expected to significantly enhance India’s domestic shipbuilding capacity while reducing dependence on foreign shipyards for commercial and strategic vessel construction. Industry observers believe the project will strengthen India’s competitiveness in global maritime trade and logistics while supporting the government’s broader vision of positioning India among the world’s top five shipbuilding nations by 2047. Beyond infrastructure development, the project is expected to generate nearly 15,000 direct jobs once operations stabilise, along with thousands of indirect employment opportunities across ancillary manufacturing, logistics, marine engineering, and supply chain services. The shipyard will also serve as the anchor facility for the larger Thoothukudi Shipbuilding Cluster being developed in Tamil Nadu. The collaboration further reflects deepening India–South Korea maritime ties and is expected to facilitate technology transfer, workforce skilling, localisation of marine equipment manufacturing, and adoption of advanced green and digital shipbuilding technologies. Experts note that the project could accelerate the growth of a robust maritime supply chain ecosystem in southern India, benefiting logistics providers, exporters, and heavy engineering industries alike. With global demand for shipbuilding diversifying beyond traditional hubs, the Thoothukudi mega shipyard could emerge as a transformative project for India’s maritime economy and logistics sector in the coming decades.
Global container freight rates recorded a modest rebound this week after three consecutive weeks of decline, as major ocean carriers introduced fresh emergency fuel and peak season surcharges amid ongoing geopolitical tensions surrounding the Strait of Hormuz. According to the latest Drewry World Container Index (WCI), the composite index rose 3% to US$2,286 per 40-foot container, driven primarily by strengthening Transpacific trade lane pricing. Rates from Shanghai to New York climbed 7% week-on-week to US$3,721 per FEU, while Shanghai to Los Angeles increased 5% to US$3,062 per FEU. The upward movement follows a series of surcharge revisions by leading carriers responding to elevated bunker costs, operational uncertainty and rising war-risk exposure linked to Middle East shipping routes. MSC Mediterranean Shipping Company raised its Emergency Fuel Surcharge (EFS) on Asia–US East Coast cargo from US$430 to US$644 per FEU, while Asia–US West Coast shipments saw EFS levels rise from US$272 to US$467 per FEU. CMA CGM Group also implemented a new Peak Season Surcharge (PSS) of US$2,000 per FEU effective May 1. On the Asia–Europe corridor, freight rates remained relatively stable despite carriers preparing another round of Freight All Kinds (FAK) rate hikes later this month. Shanghai-to-Rotterdam spot rates rose 2% to US$2,170 per FEU, while Shanghai-to-Genoa rates edged up 1% to US$3,075 per FEU. Carriers including CMA CGM, Hapag-Lloyd and MSC have announced revised FAK pricing ranging between US$3,500 and US$4,500 per FEU for Asia–North Europe trades and up to US$4,600 per FEU for Asia–Mediterranean cargo from mid-May onwards. Despite the latest rebound, analysts caution that the broader freight market remains fragile due to weak underlying cargo demand and persistent vessel overcapacity. To support rate stability, carriers continue relying on blank sailings, network adjustments and capacity reductions across key trade corridors. Drewry estimates effective capacity on Asia–North Europe services will decline 3% month-on-month in May, while Asia–Mediterranean capacity could contract by as much as 10%. The latest pricing volatility underscores how geopolitical uncertainty, fuel market fluctuations and supply chain disruptions continue reshaping global container shipping dynamics, with carriers increasingly depending on surcharge mechanisms and capacity discipline to stabilise freight markets.
In a significant move, the Gujarat Maritime Board has announced the decision to upgrade and modernise four ports located in the state. Going forward, the Gujarat Maritime Board (GMB) has invited bids for appointing an adviser to prepare Detailed Project Reports (DPRs) for the overall upgradation of the four state ports — Jamnagar, Okha, Porbandar, and Bhavnagar. The announcement is a part of a broader strategic plan to upgrade and strengthen the existing maritime infrastructure in order to meet the national priorities and global standards. As per the GMB, the objective behind the move is to enhance the cargo handling capacity and to strengthen the overall logistics network across the region. Once the bid process is completed, the selected adviser/consultant will have to submit traffic demand and prediction reports aimed at evaluating the industrial expansion in the hinterland and suggest capacity requirements. In addition to mooring analysis and navigation, technical studies will involve mathematical models of storm surges and design waves. Furthermore, the consultant will also have to prepare detailed plans for port craft and navigational aids, and will additionally be responsible to draft tender documents under engineering, procurement, and construction, public-private partnership, and hybrid annuity models. In order to facilitate multimodal logistics, the scope also includes recommendations for hinterland connectivity, berth design, cargo handling layouts, and environmental and resilience studies. The designs must include strategies for risk mitigation and extreme weather event adaptability. The DPR assignment contract is expected to be finished within 18 months following its award. In order to increase productivity, security, and sustainability at the four ports, the DPRs are meant to offer a roadmap for phased investments and procurement. Through transparent tender paperwork, they are expected to expedite project execution and promote industrial growth in the surrounding areas. The GMB action is in line with initiatives to strengthen the state's standing as a major marine center and to improve the resilience of the regional supply chain. For more such news and updates, visit CARGOCONNECT.
Women’s participation in India’s maritime sector has recorded a sharp increase of 340% since 2020, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said, highlighting the government’s efforts to create a more inclusive and future-oriented maritime workforce. Delivering the keynote address at the 10th Indian Ocean Dialogue in New Delhi, Sonowal highlighted “Nari Shakti” as a central pillar of India’s maritime growth story. Union Minister Sarbananda Sonowal was joined by His Excellency, Dhananjay Ramful, Foreign Minister of Mauritius, and His Excellency, Waleed Mohammed Al-Qadimi, Minister of State of Yemen. “Through initiatives like ‘Sagar Mein Samman’, we are advancing dignity, inclusion and leadership opportunities for women in the maritime sector, which has seen a remarkable rise of about 340% since 2020,” Sonowal said. “Under the dynamic leadership of Prime Minister Shri Narendra Modi ji, this transformation in the maritime sector is helping shape a more inclusive, resilient and future-ready workforce for the Indian Ocean Region.” The minister linked the growing presence of women in the maritime industry to India’s broader strategy of combining economic progress with social empowerment. He said that while India continues to strengthen maritime security, connectivity and sustainability, the “human element” remains at the heart of the country’s maritime agenda. “The Indian Ocean is not just a geographic space, but a global lifeline,” Sonowal said. “Its importance to global energy flows, trade and supply chains calls for stronger cooperation, resilience and inclusivity.” Sonowal emphasised that India’s maritime initiatives are aligned with the vision of Prime Minister Narendra Modi, including frameworks such as SAGAR (Security and Growth for All in the Region) and MAHASAGAR, aimed at strengthening regional cooperation and ensuring equitable growth. The 10th Indian Ocean Dialogue is being hosted by India in its capacity as Chair of the Indian Ocean Rim Association (IORA) for the 2025–27 term. Held under the theme “Indian Ocean Region in a Transforming World,” the forum has brought together ministers, policymakers, academics and industry leaders to discuss issues including maritime security, the blue economy, climate change, disaster risk management and women’s empowerment. India’s IORA chairmanship is centred on the themes of “Innovation, Openness, Resilience and Adaptability,” with women’s economic empowerment identified as a major cross-cutting priority. During his address, Sonowal reiterated India’s role as a “net security provider” in the Indian Ocean Region, citing the country’s contributions in humanitarian assistance, maritime surveillance and disaster response operations. He stressed that maritime challenges require collective solutions and called for greater collaboration based on transparency and adherence to international law. “India remains committed to working with all partners to advance a safe, secure and stable Indian Ocean Region,” he said. The Indian Ocean Dialogue, launched in Kochi in 2014 as IORA’s flagship Track 1.5 platform, serves as a forum for engagement among governments, experts and industry stakeholders on critical regional issues. IORA currently includes 23 member states and 12 dialogue partners, with a focus on economic cooperation and sustainable development across the Indian Ocean Region. The 10th edition of the Dialogue, being held in New Delhi on May 7 and 8, 2026, includes dedicated discussions on maritime security, blue economy initiatives, disaster resilience, climate action and women’s leadership in the maritime sector.
India's major ports experienced a very rare 3.2% year-on-year fall in cargo through October 2024, as official data showed. The total cargo handled at these 12 major ports fell to 68.22 million metric tonnes. A drastic fall in both crude oil and coal imports dragged down the figures. The overall cargo decreased mainly due to a decrease of 5.5% for overseas cargo, which consisted of 52.9 mmt. However, the domestic coastal shipping increased by 5.3% to 15.9 mmt. Crude oil, which comprised nearly 20% of the total cargo traffic, decreased by 8.8%, lowering to 12.9 mmt. The quantity of petroleum products also decreased, leading to the general decline. Its traffic, the most significant revenue earner, was down 13% versus last year, and declined even sharply because of the sharp fall in volumes of non-thermal coal. Yet, with the festival season, October usually witnesses higher cargo volume and the containerised volumes at the government-controlled ports were essentially flat with just a minus 0.2%. Contrasting that, India's overall merchandise exports grew by 17% as its pace marked a 28-month high led primarily by inventory build-up before Christmas and New Year time. On a positive note, private ports witnessed 5.7% growth in cargo volume to 64.2 mmt. Container volume at the private ports has seen an exponential growth of 21.5%, which actually speaks about festival season boosters. Adani Ports and Special Economic Zone, the largest private port operator in the country, reported an 8% Y-o-Y growth in total cargo handled, at 257.7 mmt, pulled up by 19% growth in container volumes and 9% liquid and gas cargo. As of the fiscal year 2024-25, traffic at major ports has increased by 3.9%, with the total touching 481 mmt. However, some individual ports saw drastic falls, as does the Kolkata Port that slipped down 25% in handling cargo whereas Visakhapatnam Port fell by 15.5% for October.
The global container fleet is expanding at a pace never before seen as shipyards achieved a new annual record in 2024. According to the latest report from BIMCO, in the first ten months of the year, 410 container ships with a total capacity of 2.5 million TEU have been delivered, which surpassed the 2023 full-year record of 2.3 million TEU. This rapid growth has brought the global container fleet to 2.4 million TEU, or an increase of 8.7%, with a total capacity of 30.4 million TEU on 6,699 ships. Container fleet increased by 32% since early 2020, a period that witnessed the delivery of 7.8 million TEU, which is a record five-year period, Chief Shipping Analyst Niels Rasmussen said. Ship owners have continued to place orders for new ships at a frenetic pace; in 2024, contracts for an additional 286 ships (3.3 million TEU) have been added to the order book. This has put the order book back up to 7.6 million TEU, which is approximately 25% of the current fleet size. The drivers for fleet growth are primarily vessels in the size range 12,000 to 17,000 TEU, accounting for 42% of growth since 2020 and close to half of the order book currently. Ultra-large ships of above 17,000 TEU make up a substantial part, comprising 27% of order book capacity. Although the recycling rate of ships in recent years was low, there is expectation that aged vessels will go back into the recycling market soon. 3.4 million TEU, which will attain the age of 20 years, are in the recycling queue, as they top the list for recycling. The next five-year fleet growth, in fact, would be toned down to about 14 percent if these vessels are recycled. This record fleet expansion will impact shipping prices, port congestion, and the general logistics environment as the industry tries to adjust to the added capacity and changing market needs.
The shipping ministry of Bangladesh has taken a firm stance on maritime operations by issuing a directive mandating strict compliance with both international and national regulations regarding sanctioned vessels and cargoes. This initiative, highlighted in a recent report by The Daily Star, is part of the government’s ongoing effort to safeguard national security and uphold the integrity of the country’s maritime sector. The circular, signed by Commodore Mohammad Maksud Alam, Director General of the Department of Shipping, underscores the potential risks posed by vessels engaging in trade with sanctioned nations. It emphasises that such vessels could jeopardise Bangladesh's maritime reputation and security, making adherence to these regulations critical. According to the ministry, no cargo subject to international sanctions is permitted to be loaded, unloaded, transited, or stored within Bangladesh’s jurisdiction, irrespective of its origin or destination. The ministry has made it clear that failure to comply with these regulations will incur severe penalties, which may include hefty fines, suspension of operating licenses, and possible criminal charges against offending parties. To reinforce compliance, the ministry has pledged to implement stringent monitoring and inspection protocols. It has called on all stakeholders, including shipping companies and port authorities, to remain vigilant and report any suspicious activities related to vessels or cargoes linked to sanctioned countries or entities. The ministry's emphasis on collaboration among stakeholders is crucial for maintaining the security and reputation of Bangladesh’s maritime operations, particularly in an increasingly complex global trade environment. As Bangladesh navigates these challenges, the shipping ministry’s directive serves as a reminder of the importance of regulatory compliance in sustaining the country's maritime integrity.
DP World has acquired 47,000 twenty-foot equivalent units (TEUs) for the first time, marking a significant expansion of its container fleet. This acquisition will not only boost DP World's cargo capacity but also enhance its ability to respond quickly and flexibly to customer needs. The newly branded and registered containers will provide DP World’s customers with seamless access to critical container capacity. This ensures that even during periods of peak demand or unforeseen disruptions, businesses can continue to move goods efficiently. With this increased control over delivery schedules, DP World is positioned to minimise delays, making supply chains more resilient and adaptable in the current fast-paced global environment. This investment aligns with DP World’s fleet renewal strategy, which focuses on delivering reliable and efficient equipment to its customers. The acquisition of a younger fleet, with reduced maintenance requirements, is expected to lower operating costs, which will benefit customers by providing high-quality, consistent service. The move underscores the company’s commitment to maintaining reliability in an increasingly complex supply chain landscape. Ganesh Raj, Global Chief Operating Officer, Marine Services at DP World, commented: “In today’s increasingly complex and competitive commercial environment, supply chains are under growing pressure. This injection of 47,000 TEUs into the existing ecosystem of DP World-owned assets will help our customers access the capacity they need, safe in the knowledge that their goods will be moved from end to end with a single partner.” DP World’s extensive multimodal logistics network spans vessels, ports, terminals, economic zones, and warehousing facilities across 78 countries. Additionally, the company has committed to using fuel-efficient vessels, trucks, and trains to transport the new containers, aligning with its sustainability goals. The acquisition represents DP World’s ongoing efforts to streamline global trade, lower operational costs, and reduce environmental impact, ensuring smooth and efficient supply chain operations for its customers worldwide.
The Syama Prasad Mookerjee Port, Kolkata (SMPK), and the Haldia Dock Complex have experienced a notable downturn in cargo handling during the first half of the fiscal year 2024, reporting an 8.7% decline in combined cargo volumes. In stark contrast, 12 major ports across India collectively achieved a 5% increase in cargo handling during the same period. Key to this decline is the substantial drop in coking coal volumes, which constitutes a major portion of the cargo for these ports. In the April-September 2024 period, coking coal handling plummeted by 33% compared to the previous fiscal year. SMPK handled 28.54 million tonnes (MT) of cargo in this timeframe, a decrease from 31.26 MT last year. The Kolkata Dock System (KDS) was hit particularly hard, with a significant 15.18% drop in tonnage, falling from 8.38 MT to 7.11 MT. Meanwhile, the Haldia Dock Complex recorded a 6.34% decline, with volumes dropping from 22.88 MT to 21.42 MT. Notably, apart from SMPK, only Mormugao port in Goa recorded a cargo handling decrease of 5.67%. Conversely, the 12 major ports together processed 413.74 MT of cargo in the first half of FY24, up from 393.9 MT during the same period last year. The primary factor contributing to SMPK's cargo decline is the diversion of coking coal shipments to nearby ports such as Paradip and the Adani-owned Dhamra, which offer deeper drafts. For instance, coking coal handling at SMPK dropped to 6.86 MT in H1FY24 from 10.22 MT in H1FY23, while Paradip's volumes increased by 1 MT to 8.4 MT. The ongoing spike in seaborne bulk cargo rates, driven by geopolitical tensions in the Red Sea, has further exacerbated the situation. Importers have increasingly avoided anchorages like Sandheads, leading to decreased traffic. The limited draft at Haldia restricts larger vessels, significantly increasing logistics costs and limiting economies of scale for importers. SMPK officials remain hopeful that coking coal volumes will rebound with the onset of fair weather in October, potentially stabilizing operations. Source: The Statesman
The Central administration has announced its intention to divest a 5% stake in Cochin Shipyard Ltd through an Offer for Sale (OFS), with the minimum share price set at ₹1,540. The OFS is scheduled to open on October 16, 2024, exclusively for non-retail investors, while retail investors will have the opportunity to participate starting October 17. This strategic move will feature a base offer of 2.5%, with an additional 2.5% available through a green shoe option. As of September 30, the government held a substantial 72.86% stake in Cochin Shipyard. The decision to divest comes on the heels of impressive financial results from the company. For the quarter ending June 30, 2024, Cochin Shipyard reported a remarkable 76.5% year-on-year increase in net profit, which surged to ₹174.2 crore, compared to ₹98.7 crore during the same quarter last year. The company's revenue from operations also experienced a significant boost of 61.1%, climbing to ₹771.5 crore from ₹475.9 crore in the previous fiscal year. Cochin Shipyard's operational metrics reflect robust growth, with Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) more than doubling—an impressive 125% increase to ₹177.3 crore. The EBITDA margin improved significantly to 23% for the reporting quarter, up from 16.5% in the corresponding period of the prior fiscal year. The company’s growth has been largely driven by its Ship Building segment, which saw revenue rise by 62% to ₹527 crore, accounting for 68% of overall revenue. The Ship Repair segment, responsible for 32% of total sales, also reported a substantial revenue increase of 63%, reaching ₹245 crore, with margins rising to 43% from 24% in the previous year. As of Tuesday's market close, Cochin Shipyard's shares are down 44% from their peak of ₹2,977, achieved in July. However, the stock remains up fourfold from its initial public offering (IPO) price of ₹432, showcasing its long-term growth potential despite recent fluctuations.
Regional Container Lines (RCL) has taken a significant step to enhance its India service by deploying the 7,000 TEU vessel, MV Hemma Bhum, to its RWA2 service. This vessel made its inaugural call at the PSA BMCT terminal in Nhava Sheva and the Adani Container Terminal in Mundra during the last week of September 2024, marking a milestone in RCL's operations. The RWA2 service is pivotal for the China-India trade route and is operated in collaboration with various stakeholders, with RCL serving as the lead partner. This service connects critical ports, including Shanghai, Ningbo, Shekou, Singapore, Port Klang, Nhava Sheva, and Mundra. By upsizing the RWA2 service, RCL aims to boost customer confidence while expanding its service portfolio to provide more options between China, Southeast Asia, and West India. To commemorate the MV Hemma Bhum’s maiden voyage to India, RCL hosted a trade meet in Mumbai, bringing together Beneficial Cargo Owners (BCOs), port and CFS operators, and freight forwarders. Ms. Thitinun Chinvararuk, Vice President – Business Development and Procurement at RCL, emphasised the importance of MV Hemma Bhum in RCL's maritime journey. She highlighted the company’s commitment to cooperation and shared the vision for progress, underscoring RCL's aspirations for growth in India. Mr. Mukesh Oza, Director of RCL Agencies (India), conveyed heartfelt appreciation to customers for their continued support, on behalf of Mr. Sumate Tanthuwanit, Chairman of the Executive Committee, and President Dr. Twinchok Tanthuwanit. He further outlined RCL's vision for growth and expansion in India, including developing Inland Container Depots (ICDs) and introducing additional services tailored to meet the evolving needs of trade and customers.
Adani Ports and Special Economic Zone (APSEZ) has announced a remarkable 14% year-on-year increase in cargo volume for September 2024, signaling strong growth in India's logistics and maritime sector. The ports handled a total cargo volume of 28.33 million tonnes during the month, compared to 24.82 million tonnes in September 2023. This growth is attributed to the rising demand for commodities and the company’s continuous investments in enhancing operational efficiency. Notably, the increase in cargo handling reflects APSEZ’s strategic initiatives aimed at expanding its capabilities and streamlining processes. The company has focused on augmenting its infrastructure, introducing advanced technology, and optimising logistics networks to support increasing trade volumes. The growth was particularly driven by a surge in container volumes, which increased by 10%, underscoring the robustness of India's import and export activities. APSEZ’s management remains optimistic about maintaining this upward trajectory, highlighting their commitment to sustainability and innovation. They aim to leverage technology to enhance service offerings and improve turnaround times, which are critical for ensuring the seamless flow of goods. As India’s largest private port operator, Adani Ports plays a crucial role in facilitating trade and logistics, significantly contributing to the nation's economic growth. With continued investments and a focus on operational excellence, the company is poised to capture further market share in the rapidly evolving logistics landscape.
MacGregor, a division of Cargotec, has received a significant order to supply cargo access equipment for 12 new Pure Car and Truck Carriers (PCTCs) with an option for eight additional vessels. The vessels are set to be constructed at China Merchants Heavy Industry (Jiangsu) Co., Ltd. (CMHI) for CIDO Shipping. This order is included in Cargotec's third-quarter 2024 order intake, with deliveries scheduled to commence in the second quarter of 2026 and conclude by the fourth quarter of 2029. The contract encompasses the design and essential components for quarter ramps, side ramps, internal ramps, covers, and liftable car decks, along with installation assistance. MacGregor's successful collaboration with CMHI, marked by dependable deliveries and high-quality solutions, was pivotal in securing this contract. CIDO Shipping's longstanding partnership with MacGregor, which includes equipping numerous vessels with MacGregor technology, also influenced the decision. Magnus Sjöberg, Senior Vice President of the Equipment Solutions Division at MacGregor, expressed pride in continuing the partnership with CMHI and CIDO Shipping. He emphasised that the order reflects MacGregor's commitment to delivering innovative and reliable solutions that enhance operational efficiency and vessel performance over the long term. This order highlights the company's strong relationships with its customers and its reputation for reliability and quality in the maritime industry. This order not only signifies growth for MacGregor but also underscores the ongoing demand for advanced cargo handling solutions in the evolving shipping sector.
The much-anticipated Vizhinjam Port is on track for commissioning next month, promising to transform logistics for millions across southern India. Strategically located, the port is expected to serve around 120 million consumers in Chennai, Coimbatore, Bengaluru, Tirunelveli, and Thoothukudi—cities reachable within 18 to 24 hours by road or rail. Additionally, it will connect with 220 million consumers in Hyderabad, Vizag, and Goa, which are 48 hours away, once full operations and rail connectivity are established. The demand from shipping companies is substantial, as Vizhinjam allows for seamless unloading of transshipment cargo, facilitating quicker routes to subsequent destinations without unnecessary detours. This efficiency is set to lower logistics costs significantly, making the port an attractive option for businesses across India eager to streamline their supply chains. Plans are also underway for allied developments near the port to support this growing demand while maintaining environmental sustainability. An official highlighted the potential for a logistics park to further enhance service offerings to customers from surrounding cities. In its initial phase, Vizhinjam Port will primarily handle ship-to-ship traffic until road and rail links are fully operational. Managed by Adani Ports, the facility has already received 23 cantilever rail-mounted gantry cranes and eight rail-mounted quay cranes, which are being utilised during the trial phase to optimise cargo handling capacity. The port is further equipped with a pilot-cum-survey vessel, navigational buoys, and four tugs, enhancing operational readiness. With these developments, Vizhinjam is poised to become a vital hub in India's logistics landscape, driving economic growth and improving supply chain efficiencies.
In a landmark effort to promote sustainable shipping, A.P. Moller – Maersk co-hosted Japan’s inaugural methanol bunkering simulation at the Port of Yokohama. This initiative marks a significant stride towards developing methanol fuel bunkering capabilities in the region, aligning with Japan’s goals for decarbonisation. The simulation featured the Alette Maersk, the company’s fifth dual-fuel methanol vessel, which was recently launched in Los Angeles. A key participant was the Eikamaru, a methanol tanker operated by Kokuka Sangyo, which facilitated essential operations such as berthing, unberthing, and hose connections—critical components for establishing a safe and efficient methanol bunkering infrastructure. As Japan formulates its methanol fuel bunkering guidelines, the insights gained from this simulation will be instrumental in shaping the nation’s fuel supply infrastructure. Maersk’s collaboration with the City of Yokohama and Mitsubishi Gas Chemical, bolstered by support from Japan’s Ministry of Land, Infrastructure, Transport, and Tourism’s Port and Harbor Bureau, is central to these developments. Director Nakagawa Kenzo of the Industrial Port Policy Division emphasised the importance of this initiative, announcing plans for a study group to explore methanol bunkering hubs in Japan. “Establishing these hubs is vital, and we will accelerate discussions based on insights from this simulation,” he noted. Yasuhiro Shimbo, Director General of the Port and Harbor Bureau in Yokohama, reaffirmed the port’s commitment to advancing methanol bunkering capabilities, contributing to the decarbonisation of both Japanese and global maritime transport. Maersk’s Managing Director for Northeast Asia, Toru Nishiyama, expressed the company’s dedication to supporting Japan’s ambitions for a decarbonised future. “We look forward to collaborating with the industry to accelerate the adoption of lower-emission practices,” he stated. As interest in alternative fuels grows, methanol stands out for its lower carbon emissions, positioning it as a promising solution for the future of sustainable shipping.
State-run Garden Reach Shipbuilders & Engineers (GRSE) has been awarded a significant contract worth USD 54 million from Carsten Rehder Schiffsmakler and Reederei GmbH & Co. Under this contract, GRSE will design, build, and deliver four multi-purpose vessels, each with a deadweight tonnage (DWT) of 7,500. The agreement also includes an option for an additional four vessels, potentially doubling the contract's total value to USD 108 million. The vessels are expected to meet diverse operational requirements, enhancing logistical capabilities for their intended maritime applications. The entire project is scheduled for completion within 33 months from the contract's signing date, showcasing GRSE’s capability to deliver complex maritime solutions within a stipulated timeline. This deal not only bolsters GRSE's position in the international maritime industry but also underscores its commitment to advancing its shipbuilding technology and expanding its global footprint.
DP World’s subsidiaries, Community Network Services (CNS) and SeaRates, have unveiled CNS Enterprise, a revolutionary cloud-based service suite aimed at transforming logistics management. This new platform integrates customs and freight operations with a robust Enterprise Resource Planning (ERP) system developed by SeaRates, offering a unified solution for the logistics and freight forwarding industry. CNS Enterprise is designed to streamline complex logistics workflows by consolidating various functions into a single platform. This includes customs handling, freight forwarding, and financial management, addressing key industry challenges such as cost control and operational efficiency. The suite’s comprehensive functionality extends to managing customs declarations, cross-border movements, customer relationship management (CRM), and account management. Matthew Bradley, Managing Director of CNS, highlighted the platform’s potential to enhance competitiveness in a volatile market. “We’re delighted to partner with SeaRates ERP to launch CNS Enterprise, which aims to make cargo journeys more seamless and accessible. By integrating our customs declarations and port community systems, we provide our customers with a competitive edge, ensuring a smoother and more manageable supply chain journey,” Bradley remarked. Ayaz Maqbool, Group Senior Vice President of Digital Product Sales at DP World, emphasised the importance of CNS Enterprise in today’s challenging business environment. “In an era of heightened cost pressure and demand for reliability and speed, CNS Enterprise equips vendors of all sizes with the tools needed to manage cargo transportation from start to finish. This collaboration with CNS represents a significant leap forward in our cloud solutions market, offering a high-quality product that enhances end-to-end supply chain control.” Set to launch on October 22, CNS Enterprise will offer features such as billing, invoicing, and quotation generation, along with document management, tracking, and direct booking for land, sea, and air freight. Users will benefit from real-time visibility into sailing schedules and freight milestones. This comprehensive suite positions CNS to strengthen its presence in the UK’s supply chain sector and solidify its standing in the cloud solutions market, driving greater efficiency and profitability for logistics businesses.
In response to strained political relations between Bangladesh and India, shipping lines have rapidly introduced new direct routes from China to Bangladesh, increasing capacity and shortening transit times. Pacific International Lines (PIL) has launched the China Chittagong Express, a weekly service that reduces the shipping time from China to Chittagong to just eight days, compared to the previous 20-22 days via regional hubs like Singapore and Port Klang. The first vessel, carrying 935 TEUs, departed Ningbo on 31 August, stopping in Shanghai and Shekou before reaching Chittagong on 16 September. It is expected to return to China with over 1,000 TEUs. Currently, three vessels are operating this route, but more could be added to meet rising demand. Bangladesh, which sources 25% of its imports from China, is expected to increase its imports, especially for the garment industry, as political tensions with India affect trade. Besides PIL, other major shipping lines such as Maersk, MSC, CMA CGM, and Sinocor-Hyundai have enhanced their China-Bangladesh services, with six operators now running ten ships weekly. These developments reflect China’s growing investment and influence in Bangladesh’s trade infrastructure.
NYSE-listed ZIM Integrated Shipping Services, an Israel-based global container liner company, has announced a new long-term operational cooperation with MSC Mediterranean Shipping Company to cover the Asia-U.S. East Coast and Asia-U.S. Gulf trades. The services are set to launch in February 2025, pending regulatory approvals and filings, according to an official release. This strategic collaboration aims to expand ZIM's port coverage, elevate service quality, and achieve significant operational efficiencies. Eli Glickman, President and CEO of ZIM, emphasised that the partnership is a direct outcome of ZIM’s fleet renewal program, which has strengthened its competitive position, particularly on the Asia-U.S. East Coast trade. "This important collaboration reflects ZIM's commitment to delivering an outstanding shipping solution and taking proactive steps to enhance network efficiencies," Glickman stated. "We are pleased to join forces with MSC, a trusted partner, to augment our network while maintaining our customer-centric approach and commitment to the highest service levels." Aligned with ZIM's focus on decarbonisation, the partnership will promote the use of larger, eco-friendly vessels, including LNG-powered ships. ZIM is notably the first carrier to introduce LNG capacity to the Asia-U.S. East Coast trade, offering unique green services that strengthen its market position. The three-year agreement includes slot swaps and vessel sharing arrangements across six services connecting Asia to the U.S. East Coast, West Coast of Mexico, Caribbean ports, and U.S. Gulf ports, enhancing the connectivity and service offerings for both companies. As market conditions evolve, ZIM aims to remain agile and capitalise on further opportunities that will benefit the company operationally and financially.
Singapore’s Changi Airport is sharpening its focus on pharmaceuticals and e-commerce shipments to navigate constrained cargo capacity until planned expansion in the 2030s. According to Lim Ching Kiat, Executive Vice President of Air Hub and Cargo Development at Changi Airport Group, current facilities face mounting pressure due to growing regional demand, necessitating strategic tenant and cargo type management. E-commerce continues to be a key growth driver for air cargo globally, fueled by major players like Shein, Temu, and TikTok Shop. At the same time, Singapore is solidifying its position as Southeast Asia’s preferred pharmaceutical hub, attracting investments from global biopharma giants such as Thermo Fisher, Sanofi, BioNTech, and MSD. Looking ahead, Changi Airport plans to launch a second logistics park by the 2030s, aiming to increase its annual cargo capacity from 3 million tons to 5.4 million tons. The new free trade zone will further expedite cargo handling and redistribution. In 2024, Changi Airport reported handling 1.99 million tons of airfreight, a 14.6% rise from 2023, driven by robust cross-border e-commerce demand, improved trade routes with China and the U.S., and recovering electronics exports. Top air cargo markets included China, Australia, the U.S., Hong Kong, and India.
As we all know, supply chain management encompasses a multifaceted approach to streamline operations, optimise resources, and meet customer demands efficiently. Integrating the entire supply chain involves aligning and synchronising all components, processes, and stakeholders involved—from suppliers to end consumers. Most importantly, an integrated supply chain leverages technology and standardised processes to achieve seamless coordination, visibility, and data sharing across the entire value chain. As businesses navigate the complexities of today’s global marketplace, harnessing the power of an innovative supply chain through enabling technological advancements and process improvements is crucial for establishing resilient, responsive, and future-ready supply chain ecosystems. These aspects are brought together by three crucial elements: technology as the backbone of innovative supply chains, continuous improvement throughout the entire supply chain, and network structures driven by transparent communication and end-to-end visibility. Harish Singh, Head – Supply Chain, Burgerama talks about the amalgamation of these key elements that enable organisations like Burgerama to stay ahead in a rapidly evolving business landscape, fostering innovation and sustainable growth in the realm of supply chain management features. Excerpts by UPAMANYU BORAH from a recent interaction. Genesis and Operations Founded in 2018 by Kabir, Viraaj, and Vivek, Burgerama is a flavour-packed tale of the juiciest cheeseburgers in India. Starting strong in Sushant Lok in October 2018, not even a global pandemic could halt this culinary sensation. What sets Burgerama apart? It's the explosion of taste in every bite, achieved through meticulous ingredient selection and an unwavering commitment to authenticity. Beyond just a food joint, Burgerama is a narrative of enduring friendship and an unyielding quest to craft the perfect burger experience. Now operating 14 delivery outlets across Delhi NCR, Chandigarh, and Bangalore, Burgerama has come to be known for its passionate team, true-to-form flavours and genuinely delicious products, creating a truly unique burger experience for all. Adapting to Macro Challenges In recent times, our burger brand has experienced both positive and negative impacts from the macro environment. A shift towards healthier eating habits has inspired us to innovate our menu, offering diverse options with high-quality, nutritious ingredients, expanding our appeal. Embracing sustainability, we've adopted eco-friendly packaging and responsible sourcing, aligning with evolving consumer values. However, challenges persist. Fluctuating commodity prices and supply chain disruptions occasionally affect our quality and pricing consistency. To address this, we've prioritised supply chain flexibility. Technological investments and strategic partnerships enable swift responses to unforeseen circumstances. Building relationships with multiple suppliers and agile inventory management mitigate localised disruptions. Our logistics infrastructure, designed for agility, includes contingency plans and alternative routes, ensuring seamless operations. Despite macro challenges, our commitment to a flexible supply chain empowers us to navigate obstacles effectively, ensuring consistent delivery of quality burgers to our customers under any circumstances. Global Benchmarks, Local Adaptations Our burger brand prioritises a consistent supply through tech-driven forecasting, strategic partnerships, and global benchmarking. Leveraging predictive analytics, we adjust production to minimise shortages or overstocking. Long-term relationships with suppliers ensure transparent operations, from sourcing to delivery. We adapt successful global practices through benchmarking and continually improve through audits, adopting new technologies or optimising routes. Our commitment to agility and learning from global benchmarks ensures a reliable supply chain, meeting dynamic customer demands. Cost Management Methods In the face of escalating input costs, especially in a landscape where our primary business operates through Zomato and Swiggy, our commitment remains to shield end consumers from additional financial burdens. Our strategy is multi-faceted, emphasising cost management without compromising quality or transferring extra expenses to the customer. Internally, we relentlessly optimise operations, streamlining processes from sourcing to distribution to enhance efficiency and minimise wastage throughout the supply chain. Furthermore, we are resolute in absorbing a certain degree of these cost increases within our operations, ensuring that the quality, value, and experience associated with our brand remain uncompromised. Collaborating closely with our suppliers and distributors, we navigate peak input costs by absorbing some of the financial pressures internally, ultimately ensuring that the end consumer is spared from additional financial strains. Automation advancements in Operations Harnessing advanced information technology has been transformative for our supply chain. Integration of cutting-edge solutions has significantly boosted efficiency, agility, and responsiveness. A key initiative involves implementing robust inventory management systems driven by machine learning algorithms. These systems enhance demand forecasting, optimise inventory levels, and predict supply chain disruptions. This proactive approach ensures balanced stock levels at both outlet and warehouse, preventing excesses or shortages. Automation further streamlines operations, with an indent planning tool seamlessly integrated into our inventory management for more precise order fulfillment planning. Strong Partnerships: Key to minimising disruptions In India's supply chain landscape, seamless coordination among suppliers, distributors, and logistics partners is crucial. Our approach emphasises robust communication channels, fostering transparency, strategy alignment, and quick problem-solving. During crises, like recent disruptions, our coordination becomes even more vital. Swift adaptations, such as diversifying supply channels and optimising stock, help us navigate challenges. Strong partner relationships minimise disruptions. Despite widespread implications, our focus stays on fostering collaborations and open communication to navigate challenges effectively and deliver quality service in alignment with the dynamic Indian market. Logistics: Enabling Our Burger Success In our burger brand's success story in India, logistics plays a vital role, serving as the backbone of our operations. Entrusting specific functions to external partners, such as transportation and warehousing, ensures efficient delivery routes and streamlined distribution. While external partners handle certain tasks, the majority of logistics operations, including inventory management and strategic planning, are internally controlled. This internal control is crucial for optimising inventory, anticipating market demands, and maintaining a smooth product flow. With approximately 90 per cent of logistics operations managed internally, we strike a balance, leveraging external expertise while retaining control over core functions. This collaborative strategy ensures the benefits of specialised skills from partners, coupled with the agility needed to adapt to India's unique market demands. Win-Win Partnerships In selecting logistics partners for our Indian operations, we prioritise reliability, scalability, and technological proficiency. Timely and consistent deliveries are crucial, requiring partners adaptable to India's dynamic landscape. We emphasise technology-driven solutions, favoring partners with advanced tracking systems and route optimisation. Cost-effectiveness is key, seeking competitive pricing without compromising service quality. Transparency, compliance with regulations, and a customer-centric approach are foundational criteria. Thorough evaluations and trial periods ensure compatibility and strong partnerships, ensuring a smooth and efficient logistics operation for our burger brand in India. Efficient Transportation Strategies In response to the evolving logistics landscape in India, our policies and strategies pivot towards embracing alternative transport modes and optimising routes for efficient outsourcing of logistics services. We advocate for multimodal transport, acknowledging the strengths of various modes like road and rail to optimise cost, time, and environmental impact. Prioritising route optimisation through advanced technologies enables us to minimise transit times and costs, leveraging data-driven analytics to assess traffic patterns and road conditions. Collaboration with specialised 3PL service providers in alternative transport modes enhances our network efficiency. Recognising the last-mile delivery challenge in India, our policies explore innovative solutions, including partnerships with local services and micro-warehousing strategies. The emphasis on adaptability and agility allows us to respond dynamically to market dynamics, embracing new transport modes for enhanced efficiency or reduced environmental impact. Continuous evaluation and improvement are ingrained in our policies, fostering a diversified and adaptable logistics framework that ensures efficient supply chain operations for our business. Warehousing strategies that alleviates the bottom-line To optimise our operations, we strategically position warehouses for proximity to major consumption centers, minimising transportation costs and reducing delivery times across India. Leveraging technology, we implement warehouse management systems and plan to introduce barcode systems for enhanced accuracy. Embracing lean principles, we focus on continuous improvement, eliminating non-value-added activities, and maintaining efficient layouts. Anticipating seasonal or peak demand, we implement inventory strategies for optimal preparation without excess costs during quieter periods. Collaboration with 3PLs allows scalability and access to specialised facilities. Utilising data analytics, we continuously analyse warehouse efficiency, facilitating data-driven decisions for ongoing process improvements. Through these strategies, we aim for efficient, agile, and customer-centric operations, ensuring timely product delivery across India while optimising costs and resources. Distinct capabilities with a strategic Innovation Approach Maximising the efficiency of our logistics and backend operations involves a multifaceted approach focussed on continuous improvement and innovation. Leveraging advanced analytics, we prioritise accurate demand forecasting for optimised inventory levels, balancing meeting customer demands with minimising excess stock. Building strong relationships with suppliers and implementing lean supply chain principles help in reducing lead times, cutting costs, and maintaining a responsive supply chain. Constantly exploring and integrating emerging technologies such as AI and Bar Coding enhances visibility and transparency across the supply chain. Sustainability initiatives, including eco-friendly packaging and optimised delivery routes, align with our commitment to environmental responsibility. Regular assessments and adaptation to market changes, whether regulatory shifts or consumer preferences, ensure operational agility. Our ultimate goal is to create a responsive, cost-effective, and sustainable supply chain that meets customer demands across diverse cities. Megatrends changing the face of Supply Chain Executives In the dynamic landscape of India's supply chain and logistics, several pivotal megatrends are set to reshape the roles of managers in these domains. Technology integration, including AI and machine learning, will revolutionise operations, requiring managers to harness these tools for enhanced visibility and data-driven decision-making. Building resilience against disruptions and diversifying sourcing channels will be imperative. Leveraging data analytics for predictive insights will be essential for optimising inventory and enhancing overall efficiency. Collaborative partnerships across the supply chain ecosystem will strengthen, necessitating closer ties with suppliers, distributors, and technology providers. Adapting to evolving regulations, upskilling the workforce for increased automation, and prioritising customer-centric logistics experiences are paramount. Striking the right balance between globalisation benefits and localised strategies will be a key challenge. Managers who adeptly navigate and capitalise on these megatrends will build agile, sustainable, and technologically advanced operations, meeting the evolving demands of the market. Advice for budding professionals To young supply chain professionals entering the industry in India, here's some invaluable advices for navigating the evolving landscape. Embrace continuous learning by staying updated on technological advancements and industry trends, and seek certifications and mentorship. Develop a holistic understanding of the supply chain spectrum, acknowledging the interconnections between procurement, logistics, operations, and customer relations. Cultivate adaptability and flexibility to navigate the fast-paced and disruptive nature of the industry. Focus on data literacy, particularly proficiency in analytics tools like Excel, for making informed decisions. Hone communication and collaboration skills to effectively coordinate with diverse teams and stakeholders. Embrace ethical and sustainable practices, recognising their growing importance in supply chains. Lastly, foster a problem-solving mindset, as the ability to address challenges efficiently is highly valued in the dynamic field of supply chain management.
Delmos Aviation has transported the second lot of 300 units of oxygen concentrators from Russia to New Delhi for the Rajasthan state government. The consignment was airborne on an Aeroflot A333 aircraft (SU 232) and reached at 10:10 AM in New Delhi. The shipments were shipped by road and sent back to Swasthya Bhawan, Jaipur, Rajasthan Medical Services Corporation (RMSCL). RMSCL obtained oxygen concentrators from Russian companies together with Delmos Aviation. Delmos Aviation is procuring, transporting and supplying COVID-relied materials to the Rajasthan Medical Services Corporation with the mandate signed with the Rajasthan Government. There will shortly be two consignments with the remaining 800 oxygen concentrators. "We are ready to assist governments in the provision and delivery of any type of essential medical supplies, oxygen concentration and equipment as quickly as possible," said Dr Naveen Rao, Director, Delmos Aviation. "At this juncture, time-based deliveries are paramount. We can handle the airlift and deliver the shipment to the last point." In four lots, 100, 300, 450 and 400 units, a total of 1250 oxygen concentrations are ordered and continue to reach New Delhi in batches of shipments. On 14 and 16 May 2021, the remaining lots will arrive. Oxygen concentrators of Single flowmeter (0.5-10LPM Adjustable) and double flowmeter (0-5LPM Adjustable) are included in the delivery. The models are JAY-10A & LFY-I-5A. "The government of Rajasthan is working hard in this raging second wave of the pandemic to provide basic medical equipment to head Minister Ashok Gehlot and Minister of Health, Raghu Sharma. The government plans to import 1250 oxygen concentrators from Moscow, Russia, in partnership with Delmos Aviation, as part of its efforts to enhance medical oxygen in the state," said a spokesperson.
Challenge Group unveiled its newest Boeing 747-400 production freighter registered under its Belgian AOC. With this acquisition, Challenge Group’s fleet now consists of 10 state-of-the-art aircraft, including six Boeing 747-400F and four Boeing 767-300F freighters, trebling its fleet in less than three years. This expansion positions the company to meet increasing customer demand with greater efficiency and flexibility. The new aircraft will significantly enhance Challenge Group’s capacity and frequency, addressing rising demand for perishable transportation out of Africa, e-commerce shipments from China, and transatlantic trade. Predominantly serving the e-commerce sector from China, the Boeing 747-400F will also support diverse industries and verticals with its versatile cargo capabilities. “The addition of the Boeing 747-400F is a pivotal step in Challenge Group’s fleet strategy,” said Or Zak, Chief Commercial Officer at Challenge Group. “It reinforces our ability to respond to the evolving demands of the air freight capacity while expanding our capability to serve new markets. This aircraft exemplifies our commitment to operational flexibility and providing additional solutions for our customers.” This expansion aligns with Challenge Group’s long-term strategy to grow its fleet and increase its market reach. By incorporating advanced freighters like the Boeing 747-400 production freighter, the company is well-positioned to deploy additional capacity as needed and strengthen its global network.
Container xChange, the world’s leading tech company for container trading and leasing published container prices and availability data across the key ports of the United States. As majority of ports at the United States struggle to process the soaring flow of inbound containers, the average shipping container prices fell in the month of October by an average of 10% at the ports of LA, LB and more recently the port of Savannah too. The ports in the US are showing very high Container availability Index (CAx) values consistently as compared to the year 2020 and 2019 (pre-pandemic times). On a global scale, about 78 ports recorded CAx values higher than 0.50 (the value of 0.50 represents the ideal balance of inbound and outbound containers). As per the data, the average prices for 40 ft High cube containers have dropped by 10.7% from US$4863 to US$4342 from the month of August to November at the port of Long Beach. At the port of Los Angeles, a 20 ft dry container costs US$1850 and a 40 High cube costs around US$4342. The table below shows the decline in the average prices for a forty ft high cube container since the month of August this year at the Los Angeles port. Overall, the average one-way container leasing pickup charges on China to United States stretch have also slashed after it peaked in the month of September from US$2810 to US$1760 in October. Looking at the inbound/outbound container data by Container xChange, CAx values that are consistently above 0.70 indicate that these ports have been importing an increasing number of containers for a long period and the exports are impacted due to prevailing supply-chain factors. Particularly the port of Long Beach and Los Angeles have consistently shown CAx values higher than 0.80 since the beginning of the year which shows the catastrophic problem of higher inbound containers at these ports. The situation is similar at ports like Oakland, Seattle, Tacoma, and other ports in the US West Coast. The container availability index (CAx) at the port of Long Beach is 0.88 this week, which is the highest since the year 2019. The CAx values stood at 0.67 in 2019 and at 0.68 in 2020. The higher CAx values indicate that in proportion to the inbound containers, outbound containers are much higher. The gap is at its peak at the port. The port of Oakland, for instance, showed up a general CAx values between a range of 0.36 to a maximum of 0.65 at a given week throughout the year 2020, which is somewhere in the range of 0.70 to 0.96 at any given week in the year 2021. “The United States being an import destination of containers, has witnessed extraordinary number of vessels this year as the demand grew exponentially, especially in the north America region. This has crippled the supply chain because the ports and the supporting ecosystem has not been prepared adequately. We need measures to collectively improve the situation at these ports, which has had a domino effect on other ports and infact on the global supply chain. As per our forecast, the container prices will level off at a new normal that will be atleast 2X of the pre-pandemic cost by the end of next year 2022,” said Dr Johannes Schlingmeier, CEO and co-founder of Container xChange. Even the ports in the US East Coast like the port of Savannah, have experienced dip in the average prices for containers. A 40 feet high cube container costs US$4607 in November while it costed US$5224 in September, almost a dip of 11-12%. At the port of Savannah, as of week 47, the CAx stands at 0.94 which was 0.81 in 2020 and 0.84 in the year 2019 during the same week. Clearly, the port. Is handling very high number of inbound containers this year as compared to the past two years.
