As the shipping industry saw an abundance of vessels leading to overcapacity in the shipping industry, accompanied with depressed freight rates which signified a tough market, a number of shipowners opted to dispose of their vessels selling them for scrap.
The piracy-prone Gulf of Aden at the Horn of Africa has seen attacks decrease sharply over the last five years, but the positive development has come at a massive cost, according to data cited by Intertanko. Tim Wilkins, regional manager Asia-Pacific & Environment Director at Intertankos Asia representative office in Singapore, observed that the success of curbing piracy at the Gulf of Aden has led to an economic cost of $2.2-2.3bn in 2014 alone.
The latest figures from consultant Drewrys Sea and Air Shipper Insight Report show that in July average global airfreight prices reached $2.82 per kg, up from June's level of $2.78 per kg. Prices are now just 1.4% behind last years level for July, which stood at $2.86 per kg.
The South Carolina Ports Authority late last week took delivery of two super post-Panamax cranes as part of preparations for big-ship readiness, authority officials announced yesterday. The cranes will provide 155 feet of lift height from the dock to enable SCPA to work larger container cargo ships.
It has been an interesting year for logistics and the supply chain. The United States continues to recover from the 2008 recession. The trucking capacity crisis finally broke, though the driver shortage continues in select lanes and many experts predict another capacity crunch looms for 2017. American transportation infrastructure continues to crumble as it remains chronically underfunded.
The Korean government and the United Nations have agreed to form a partnership to work on developing ports across Latin America and East Asia. Currently, many ports in those regions face capacity challenges due to a lack of infrastructure, despite rapid economic growth and a growing volume of cargo.
The Standard P&I Club provides update on the current status of Yemen ports and the relevant procedures for entering territorial waters.As of August 18th, 2016 the following ports are fully operational: Aden, Ash Shihr, Balhaf, Hodeidah , Mokha and Saleef. The port of Ras Isa is currently closed.
Is this the dawning of a new age of the airship? gushed the Guardians headline the morning after Hybrid Air Vehicles debuted their Airlander 10 in front of representatives of the media and aviation enthusiasts in rural Bedfordshire, U.K. It can carry a 10-tonne payload and was developed with $300 million in funding from the U.S. Air Force. Hybrid Air Vehicles says the Airlander 10 can reach 16,000 feet, fly at up to 90 miles per hour and stay aloft for two weeks.