The Pablo, a 26-year-old tanker engaged in the sanctioned “shadow” crude trades, exploded off the coast of Malaysia in early May, killing three crew. There are a lot of ships out there like the Pablo. Older tankers that would normally be scrapped are now earning top dollar carrying crude
Every day 140,000 tonnes of cargo are shipped by air worldwide with a value of $18.6 Billion. The massive amounts of cargo shipments require shippers and freight forwarders to have a deep understanding of the standard practices and regulations regarding the process for air cargo handling. Preparing cargo for
Air cargo transports over US $6 trillion worth of goods annually, accounting for approximately 35% of world trade by value; during the COVID-19 pandemic, air cargo represented one-third of airlines’ revenue. Recently, the International Air Transport Association (IATA) released July 2022 data for global air cargo markets showing that
Descartes survey shows 70% still operating at 3% or better profit margin A decline in freight volumes, geopolitical concerns and cost inflation were top of mind for customs brokers and freight forwarders, according to Descartes’ eighth annual benchmark survey. Of the 272 participants polled by the supply chain software-as-a-service
A year ago, an armada of ships came to Europe’s aid, bringing U.S.-produced liquefied natural gas to replace Russian pipeline gas supplies lost in the wake of the war. The outlook for the coming winter was dire despite the surge of American LNG cargoes — then it grew even
While some dangerous goods are too dangerous for transport by air except under very detailed allowance by the civil aviation authority, many can only be transported on cargo-only aircraft, and others can be transported on both cargo and passenger aircraft. No matter which type of aircraft the dangerous goods
Industries are using technology to improve operations as the world becomes increasingly connected. The airfreight industry is embracing the Internet of Things (IoT) for cargo monitoring in ways that were once thought impossible. IoT is the interconnection of physical devices that can communicate with each other and exchange data
The second International Day for Women in Maritime, on 18 May 2023, seeks to highlight the importance of collaboration and networking in achieving gender equality in the maritime sector. IMO Secretary-General Kitack Lim said: “Women are working in all facets of the maritime sector across the globe, on shore and at
The first block for a new class of Russian domestic containership that is also capable of carrying dry bulk cargo was laid down at the Lotos Shipyard, part of the state-owned United Shipbuilding Corporation. In addition to the unique design, the shipbuilding corporation is reporting the ships will be
The tanker market is expected to remain a “minefield” of sanctions, cargo seizures and pipeline disrruption for the time being. In its latest weekly report, shipbroker Gibson said that “disruption to crude exports is nothing new, however recent geopolitical events have highlighted the precariousness of crude exports in some
