White House provides $60m in initial emergency funds to Key Bridge disaster. US Department of Transportation allocates $60m in ‘quick release’ emergency funds to clear the debris and begin reconstruction efforts. First round of funds towards the debris removal and reconstruction of the critical artery was allocated by the US Department of Transportation on Thursday. Meanwhile, officials said 14 of the 56 containers on board Dali carrying hazardous materials — soaps, perfumes, or not otherwise specified resin — were breached. They did not immediately confirm whether any were submerged.

Baltimore: liners rerouting, but automotive supply chains will be hardest hit. MSC, Maersk and Zim are the three carriers most exposed to the supply chain disruption stemming from the collapsed bridge at Baltimore. It shows that the three carriers collectively represent nearly three-quarters of Baltimore’s container import traffic: in the 12 months to the end of February, MSC accounted for 31.5%, with 145,734 teu; Maersk, 21.8%, with 100,800 teu; and Zim 19.8%.

CMA CGM invests in EVs and intermodal transport. Carrier continues to expand its interests outside its ocean freight heartland. CMA CGM is investing in a electric vehicle venture and joining forces with a rail operator as it seeks to diversify its business and focus on emission reductions.

APM Terminals announces €100m investment in electrified terminal.All major container handling equipment at Rijeka Gateway will be electrified, says APM Terminals. The new terminal is Croatia’s largest national project and will handle upwards of 1m teu when building is complete.

French liner giant CMA CGM has tapped Damen Shipyards Group to modify around 100 of its ships. The modifications are aimed to deliver fuel efficiencies of more than 10%. The upgrades will take place at Damen Shiprepair Dunkerque and Damen Shiprepair Amsterdam, which between them have some Europe’s largest drydocks.

Taiwan’s Hualien port suspends cargo handling after 7.2 magnitude earthquake. This is the ‘strongest earthquake in Taiwan in 25 years’, according to a local official. Hualien port has suspended cargo handling operations and restricted the entry of vehicles and vessels.

The airfreight market could see a temporary shift, owing to changes in semi-conductor production, following yesterday’s 7.2 magnitude earthquake in Taiwan.

The earthquake, Taiwan’s largest in 25 years, caused at least nine fatalities and injured an estimated 900 people, and hit the world’s largest production centre for semiconductors.

It has already affected airfreight rates, according to supply chain experts.
This morning another earthquake was reported in the USA this time. A magnitude 4.8 earthquake shook of the northeastern United States and was felt from Boston down to Baltimore. We hope that all our friends and their families in the USA are safe.

Cosco Shipping Development (CSD), holding company of container maker Dong Fang International and box lessor Florens, said it intends to develop more specialised containers, such as those to carry automobiles, in response to global market uncertainty. The news came after CSD revealed its 2023 net profit had declined 64% from 2022, to $198.8m, as container sales fell 38% year on year, to 590,600 teu. Revenue dropped 39%, to $2.19bn.Turnover from CSD’s container manufacturing and leasing businesses fell 49% and 9%, to $1.48bn and $700.45m, respectively.The group’s 40ft automobile-carrying containers, the first in China to carry four vehicles at a time, debuted in December. They are 4.05m high, 1.16m taller than a standard 40ft container, while length and width are the same.

Carriers unveil new FAK hikes in bid to halt Asia-Europe rates slide. Container spot freight rates on the main deepsea east-west trades continued their gentle descent over the course of this week, despite the ongoing vessel diversions from possible Houthi attacks in the Red Sea region.

We welcomed our first new member in Brazil earlier this week, Next Shipping and they will attend the annual conference in Porto, Portugal; for personal introductions.

US trades ocean and air freight market update by our valued member JANEL Group: Spot market rates stabilized in the second half of March. With increased load factors and increased booking demand, carriers are building momentum towards a mid-month increase in April. Conditions on the US East Coast are under careful consideration as outward impact is assessed. With concerns for International Longshoremen’s Association strikes possible and the Port of Baltimore unable to operate, it is expected rates to surrounding ports and alternative options to avoid US East Coast routings will see higher demand. US West Coast ports reported increased volumes and congestion for containers transferring to inland rail services.

Airfreight Market:Strong demand for air freight continues due to geopolitical unrest. As shippers continue to divert freight planned for ocean transit to air services, airline’s reported higher booking volumes. Since the beginning of the Red Sea crisis and shift to cape transit, shippers have leaned on air freight to avoid the longer ocean transit times. As Apple’s new product launch has drawn to a close, spot rates have seen temporary relief.

An electoral bruising for Recep Tayyip Erdogan in Türkiye. The opposition triumphs in mayoral elections in Istanbul, Ankara and across the country. Türkye woke up transformed on April 1st, after the country’s main opposition party scored a spectacular upset in local elections. It won big victories in the country’s largest cities, surging past the ruling Justice and Development (ak) party nationwide and handing Recep Tayyip Erdogan, the country’s president, a stinging rebuke.

A cheaper container reload system. CMA CGM has introduced the domestic (DRM) intermodal option in North America, providing a domestic intermodal ocean box reload programme from major intermodal ramps, Ohio Valley and west, to Los Angeles, Oakland, Portland, and Seattle.

The secret behind the world’s happiest country. Sweating in the sauna helps. For the seventh year running Finland has just been declared the world’s happiest country by the World Happiness Report, launched in 2012 to promote the sustainable development goals of the United Nations (un).

Attached find the latest update of the members list, including our new member in Ecuador, official announcement will follow early next week!

Announcement from our esteemed member BSL Group in Egypt: Dear Partners, Please note that all offices in Egypt will be closed due to Eid Holiday (holy feast) from Tuesday 09/04 to Sunday 14/04.