Maersk hikes rates on Asia-North Europe lane intimates for other regions too.
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Maersk hikes rates on Asia-North Europe lane intimates for other regions too.
After discounting prices for quite some time now, Maersk announced that it would be hiking the rates for all kinds of freight on the Asia-North Europe trade lane come July end. Maersk also said that rates on other trade lanes “may also be subject to increases” on reassessment. The rate announcement this morning will see Maersk’s FAK rates from Asian main ports to the three North European hubs of Rotterdam, Felixstowe, and Gdansk increase on 31 July to $1,025 per 20ft and $1,900 per 40ft. According to a statement released by the shipping giant, the rate hike has been induced “to continue offering you a broad portfolio of high-quality services”. It is expected that the rates should normalize by the end of the year. Amid the ‘damp’ peak season last year, and a similar trend expected this year, there has been a sharp fall in shipping rates on the Asia-North Europe trade lane.
Hapag-Lloyd comes under fire due to ‘unfair’ D&D charges, complaint filed.
German shipping colossus Hapag-Lloyd has been indicted for levying ‘unfair’ demurrage and detention (D&D) charges, by fruit juice importer Rahal International. The shipper filed a complaint with the U.S. Federal Maritime Commission (FMC) while claiming that Hapag issued almost USD 300,000 in D&D charges for empty containers. According to the information available, the carrier created logistical paralysis at the port of New York and New Jersey and “wrongfully and unreasonably” charged Rahal with the said amount in D&D. The shipper’s lawyers also allege that Hapag was unwilling and/or able to handle the return of its empty containers, yet continued to accept business.
Mahindra Logistics embraces a build-to-suit model for warehousing networks.
Mahindra Logistics is shifting towards a build-to-suit (BTS) model for its warehousing networks. As per the logistics provider, this model will be more suitable for its long-term growth plans and will lead to a better payoff as compared to earlier times when it was more OEM or component supplier-focused.“The company has built a network of BTS facilities across the country. We are connecting every part of the country,” he said. “All major cities are now getting connected with Tier-II and Tier-III cities. The BTS model allows Mahindra Logistics to increase efficiency and lower costs. The company also believes that the BTS model will be more sustainable in the long term.”
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Logistics companies in Pakistan grapple with challenges, lagging behind their global counterparts.
While the Indian logistics sector is soaring high on the back of policy reforms, infrastructure developments, and favorable businesses conditions, India’s neighbor – Pakistan – is seeing its logistics companies grapple with low margins, high taxes, and an unfavorable business environment, thereby hindering their ability to contribute to the overall economic growth of their country. India’s neighboring nation is in the midst of an economic meltdown and has seen margins plummeting from 3% to 3.5% to a mere 1% to 1.25% in recent years. This drop, along with high expenses, poses considerable difficulties for companies, especially when competing with their global counterparts.
FFFAI facilitates its members with smart e-FBL initiatives on the CODEX platform.
The Federation of Freight Forwarders Associations in India (FFFAI) has launched India’s first smart and interactive electronic FIATA (International Federation of Freight Forwarders Association) Bill of Lading (e-FBL) initiative. The same was hosted on the CODEX platform for its members at its Diamond Jubilee celebration that took place on 09 June 2023 in Delhi. Shri Piyush Goyal, Union Minister of Commerce and Industry, Government of India, unveiled the platform powered by Kale Logistics Solutions. The event also witnessed the presence of FIATA President Dr. Ivan Petrov. “The main objective of FFFAI is to organize united action to promote the interests of each member and deploying the e-FBL initiative will ease business and logistics cost for our members. This initiative is also in alignment with the government’s vision of digital India and paperless trade.”