Drewry’s World Container Index sinks below US$2,000 for first time in 32 months
The Drewry's World Container Index (WCI) annexed the psychological mark of US$2,000 on the downside for the first time since July 2020, post the first set of quotes reported in the aftermath of the Chinese New Year.
WAN HAI STARTS JAPAN – US LINER SERVICE
Wan Hai Lines has launched a new service between 15 Japanese ports and both the US west and east coasts. Cargoes will be collected from the Japanese ports of Tokyo, Yokohama, Kawasaki, Chiba, Shimizu, Nagoya, Yokkaichi, Osaka, Kobe, Mizushima, Fukuyama, Tokuyama, Hiroshima, Moji (Kitakyushu) and Hakata.
CONGESTION IN US WEST COAST PORTS THREATENS LONG-TERM GROWTH
Nearly US$2 trillion a year is the national economic value of the US West Coast ports, but in the long run, their growth is threatened. According to a new study by maritime economist John Martin, PhD., congestion in Southern California due to high container volumes, combined with the increasing capacity at East Coast and Gulf ports