Porti & ambiente — le notizie raccolte

Evacuation operations in the Strait of Hormuz have been paused after an attack on a containership in the besieged waterway yesterday led the IMO to demand safety guarantees remain in place for vessels on the evacuation list. Confirming Evergreen’s 9,500 teuEver Lovelyhad been hit by a projectile, the IMO challenged claims from US officials that the attack took place while the vessel was transiting under UN authorisation. Arsenio Dominguez, secretary-general of the UN agency, said: “This vessel did not transit under IMO’s evacuation framework. I have always reiterated the safety of the seafarers remains paramount.” Evergreen said the ship was 3.6 nautical miles south-east of Oman, on a route recommended by the UK Maritime Trade Operations when it was struck by an unidentified object, starboard of the bridge superstructure. US media blamed the Iranians for the strike, but, at the time of writing, the Iran authorities had neither confirmed nor denied their part in it. Nonetheless, its navy had earlier yesterday warned that vessels evacuating the strait were required to use only routes designated by Iran, and those using other routes would become targets. Vespucci Maritime CEO Lars Jensen noted that while Iran had not provided clarification on which corridors it meant, a corridor through Oman waters had been developed in conjunction with the IMO. Despite the attack, theEver Lovelyremains seaworthy and, together with theEver LotusandEver Unicorn– which transited Hormuz unharmed – is continuing its scheduled route to Singapore’s Port Klang, leaving no Evergreen vessels in the strait. Other vessels have also managed to leave the waterway since the ceasefire MOU between Iran and the US was announced, including Maersk’s 4,500 teuMaersk Baltimore. The IMO had planned to praise the operation with a media call yesterday, but the cancellation of the call meant something had happened with many fearing the worst, but Mr Dominguez has sought to allay concerns by noting that he expected the pause of the evacuation programme to be temporary. He said the decision had been taken “to reconfirm the necessary safety guarantees continue to be in place for the ships on our evacuation list and all those in the region”, but it is unknown how eager box ship operators will be to risk the route. Pointing to the numbers that had taken advantage of the programme, Mr Jensen said it appeared that carriers were being more cautious, with chief analyst at Xeneta Peter Sand suggested they were more concerned with trapped seafarers. He said: “There’s been significant attention on the prospect of the strait reopening, but the data tells a more nuanced story. Over the past seven days, the number of daily transits (of all ship types) has ranged from 22 to 60. ” Wednesday saw seven transits recorded. Only one was inbound to the Arabian Gulf, meaning the industry is still on a mission to bring trapped seafarers out of the region, rather than re-establishing networks.” Mr Sand added that “reconnecting container services requires a fundamentally different risk assessment than one-off transits by other vessel types”. “Carriers need a safe, permanent corridor before they will commit networks and we are not there yet.” Sources approached byThe Loadstarwere playing their cards close to their chest, “monitoring the situation closely”, although there has been scepticism that a full strait reopening was in the near future. Asked what hopes they had for a return to normalcy following news of the ceasefire, one forwarder pointed Israel bombing Beirut and said, “how fucking long did that last?”

FedEx has set up a dedicated unit to handle its healthcare traffic, hoping this will draw investors more than improved results. When FedEx unveiled its results for the final quarter of its fiscal 2026, ending 31 May, the integrator’s top brass were happy to table results ahead of projections from Wall Street. Revenues in the Q4 were up 12.5% year on year, to $25.01bn, compared with projections of $24.04bn, and full-year revenue reached $94.7bn, up from $87.9bn the previous fiscal year. Moreover, average daily volume in the fourth quarter was up 2%, while revenue per package jumped 11%, validating management’s course of steering away from low-margin volume traffic to higher-yielding business – Ground Economy volume shrank about 5% in the quarter. “The momentum you’re seeing across our business is proof that our strategy is working,” CEO Raj Subramaniam told analysts. “It’s translating to favourable financial outcomes, including very strong free cash flow and FY26 results that far exceeded our initial outlook.” Still, investors were not impressed. Shares fell 6% after the earnings call and analysts pointed to the fact that the operating margin was down to 8.4% in the quarter, versus 9.1% a year earlier. Investors might have been more pleased with the announcement during the investor call that FedEx had set up a dedicated organisation to cater for healthcare and pharmaceutical business. According to chief customer officer Brie Carere, this will further strengthen FedEx’s ability to support complex, time-critical and highly regulated healthcare supply chains. FedEx Life Sciences marks another step in the company’s pursuit of the sector, part of the strategy to focus on high-yield traffic, and builds on a network of life science centres in Europe and Asia-Pacific. In FY26 the integrator grew its revenue in this segment to nearly $10bn, up from $9bn in the previous fiscal year. Meanwhile, rival UPS has also expanded in this segment. For the 2025 fiscal year it posted $11.2bn in healthcare revenues, compared with $10.5bn a year earlier. Management has set its sights on reaching $20bn in this arena. The company announced one step in that direction this week with a $48m investment in its cold chain infrastructure supporting healthcare traffic. The money goes to 27 temperature-controlled cross-dock facilities in the US, Europe, Asia and the Americas. According to UPS, these facilities comply with CEIV Pharma standards and are supported by a 24/7/365 control tower designed to monitor shipments and cope with disruptions. “We’re seeing a growing mix of higher-value, temperature-sensitive, and time-critical healthcare products that require more precision and control across the supply chain,” said Kiel Harkness, VP of healthcare strategy Dedicated air service appears to be another rising element in this equation. Last September, FedEx announced plans for a flight between Dublin and Indianapolis to move healthcare products and other high-value goods, claiming this would shorten transit times by a day. In February, DHL unveiled a B777 freighter branded ‘DHL Health Logistics’ to mark management’s decision to move a greater portion of its healthcare traffic on dedicated freighters and reduce its reliance on commercial airlines. The 777F links Brussels and Cincinnati. DHL signalled plans to field more such services, targeting dedicated routes in Europe, the Middle East, Asia, and Latin America to form a core element of the integrator’s Airfreight Cold Chain Network. Among the countries earmarked for the expansion are India, Singapore, Japan, South Korea, Brazil, the US, Germany, and Ireland. All three big integrators have strengthened their presence in the healthcare logistics sector in recent years with strategic acquisitions. In light of their increased focus on high-yield traffic, this trend is bound to continue – while B2C e-commerce is not likely to see much effort to up their profile.

AP Moller-Maersk has promoted Scott Elliott (above) to the position of regional president for Asia Pacific, after serving in the role on an interim basis since January this year. Mr Elliott joined Maersk in 2020 as regional chief financial officer for the region, after spending just over two years as chief financial officer for global forwarding at the Toll Group headquarters in Singapore. Prior to that he spent over 15 years with Ceva Logistics, holding a variety of senior management roles in the US, China, the Netherlands and Australia, “giving him a rare combination of operational, commercial and financial leadership across the world’s most dynamic trade lanes”, a Maersk statement said. “Asia Pacific is the world’s largest regional economy, key to global trade and central to Maersk’s growth ambitions,” Mr Elliott said. “It’s an honour to work with our exceptional team, customers, and partners across the region. “We have built strong momentum together, and I look forward to deepening those relationships and supporting our customers’ growth,” he added. Meanwhile, Maersk advised that it has begun “the process of appointing a permanent regional head of finance for Asia Pacific”.

Congestion in European and Asian ports has kept 3.4m teu of box ship capacity queued, supporting long-haul freight rates as liner operators prepare to hike rates again in July. NNR Global Logistics said in Shanghai, the world’s busiest port, strong demand for solar panels and the early peak season had resulted in delays of four to five days. Schedule reliability in Singapore, the second busiest port, is “sub-optimal”, due to disruptions across global shipping networks, and in Taiwan, congestion and overbooking in Taipei and Keelung ports increased as exporters front-loaded to beat the expiry of the 10% global US tariffs on 24 July. NNR said: “Cargo space remains extremely limited, with vessel waiting times extending to between three and seven days.” India’s Ligi Logistics said: “Space availability is becoming increasingly constrained across several export corridors. Nhava Sheva Port congestion continues worsening, with ongoing vessel bunching, rail delays, trucking shortages, terminal congestion, and yard density pressure. “Schedule reliability remains below normal industry standards, requiring additional shipment planning buffers. Carriers continue implementing short validity periods on spot quotations due to volatile market conditions.” In Europe, Antwerp continues to work through accumulated backlogs, while Hamburg faces infrastructure constraints. The Kohlbrand Bridge bottleneck affects hinterland transportation, while rail access to the Altenwerder Container Terminal is still suspended. Linerlytica says in its report today that Asia-North Europe capacity remains very tight, exacerbated by Maersk Line’s downsizing of its NE3/AE3 service that cut 5,000 teu in weekly capacity. The consultancy said: “Capacity in July could also be affected by more ad hoc blank sailings due to worsening port congestion across both Asian and European ports over the past week even though carriers are planning full sailing schedules for July.” On Friday, the Shanghai Containerised Freight Index showed the Shanghai-North Europe rate rose 3% from the previous week, to $3,158 per teu. Linerlytica added: “The positive momentum in the container market continues with the mid-June rate hikes sticking without rollbacks in the strongest rate ascent since the Red Sea diversions started at the end of 2023. “Carriers are gearing for another major rate hike in July, with increases as high as $5,000 per 40ft on certain routes. Cargo demand is now clearly outpacing the availability of vessel slots with the peak season in full swing.” Check out this week’s News in Brief podcast

Intra-Asia rates continue to rise year-on-year, as major ports are congested amid the early peak season, and there is a slow return of empty containers. On 12 June, the Shanghai Containerised Freight Index showed the Shanghai-Southeast Asia rate went up by 5% from 5 June, to $682 per teu. This was also nearly 50% higher year-on-year. Xeneta’s chief analyst Peter Sand toldThe Loadstar: “Congestion still seems to be sticky and average rates keep on rising steadily.” Drewry’s Intra-Asia Container Index showed that on 12 June, Shanghai-Singapore rates averaged $1,094 per feu, excluding terminal handling charges. This was up from $922 per feu on 29 May. Drewry said that port utilisation at major transhipment hubs such as Singapore remained critical, with large volumes of displaced containers disrupting network flows and limiting the repositioning of empty equipment into South Asian markets. The consultancy said: “At the same time, concerns over rising costs and potential supply chain disruptions are encouraging cargo owners to bring forward shipments of Christmas goods. The early peak season has led to an increased volume of semi-finished goods and components transported across Asia, especially between China and Southeast Asia.” There are concerns that with the US and Iran agreement to sign a memorandum of understanding to end their ongoing conflict, it could trigger an increase in shipping capacity, as more than 50 vessels of more than 300,000 teu stranded in the Persian Gulf could be released. Peace could also see more operators resuming Red Sea transits. Mr Sand however said it is still early to tell if there will be an impact. He said: “If more transits will come about after Friday – it’ll be very positive – but it will take months before the ‘next normal’ is here.” Meanwhile, HMM is making good on its plan to widen itsintra-Asia portfolio. South Korea’s flagship carrier will take slots on compatriot Pan Ocean’s Vietnam-Thailand Express (VTX) service to offer more services to Thailand and Vietnam, while the latter operator will take slots on HMM’s Korea-Indonesia Service to increase its presence in Southeast Asia. VTX calls at Gwangyang, Busan, Shanghai, Ho Chi Minh City, Bangkok, and Laem Chabang, using three 1,700-1,900 teu ships. This means HMM will now have three services connecting Vietnam and Thailand, besides its Vietnam-Thailand and China-Vietnam-Thailand services.

Bangladesh has scrapped the long-standing cap on foreign ownership of inland container depots (ICDs) and off-dock facilities, in a move aimed at attracting greater foreign direct investment into the country’s growing logistics and port sectors. The measure was announced by finance minister Amir Khosru Mahmud Chowdhury during the presentation of the national budget on 11 June and will take effect from 1 July. Under existing rules, foreign investors were limited to a maximum 49% stake in privately operated ICDs, requiring them to partner with local companies. From next month, overseas investors will be permitted to establish and operate ICDs with 100% ownership. The government hopes the policy change will encourage greater participation from international port and logistics operators as Bangladesh seeks to expand its trade infrastructure. There are currently 24 privately operated ICDs in Bangladesh, several of which already have foreign equity participation. Global logistics and terminal operators, including DP World, Medlog, Red Sea Gateway Terminal (RSGT), APM Terminals and PSA Singapore, have either invested in or expressed interest in Bangladesh’s ports, terminals and off-dock facilities. Addressing parliament, Mr Chowdhury said: “To facilitate trade and attract investment, I propose abolishing the existing provision that limits foreign shareholding to a maximum of 49% in private off-dock and ICD operations, thereby opening this sector equally to both domestic and foreign investors.” Industry stakeholders broadly welcomed the decision, although several cautioned that further reforms would be needed if Bangladesh is to attract significant new investment. Ruhul Amin Biplob, secretary-general of the Bangladesh Inland Container Depots Association (BICDA), said previous policies had been designed to ensure majority local ownership. “The ICD Policy of 2016 of the Ministry of Shipping and the National Board of Revenue’s ICD Policy of 2021 ensured that 51% of any investment in an ICD came from local investors, while foreign investors could hold 49% or less,” he toldThe Loadstar. “Now that the cap has been removed, one may hope that foreign investors will become more interested in the ICD sector. Definitely, the decision will not feel palatable for the existing ICD operators.” However, Mr Biplob warned that ownership liberalisation alone would not be enough to drive investment. “Merely removing the cap on foreign investment will not pave the way for more foreign investment while other fundamental issues remain unresolved, such as ensuring smooth operational movement, freedom to determine service rates and maintaining standardised tariffs without outside pressure or intervention,” he said. “As long as the overall investment climate is not conducive, foreign investors will think twice before making any investment.” Capt Md Salah Uddin Chowdhury, chairman of the Bangladesh Shipping Agents’ Association (BSAA), also welcomed the move. “I welcome the government’s decision to allow 100% foreign ownership in ICDs,” he said. “But I want similar facilities in all cases for domestic investors too.” He added that the government should ensure foreign operators maintain international standards and work closely with local stakeholders. “They have to be in good harmony with us and maintain a business-friendly environment,” he said. The policy shift forms part of Bangladesh’s broader efforts to attract foreign capital and modernise logistics infrastructure as the country prepares for continued export growth and increasing cargo volumes. Check out this week’s News in Brief podcast featuring James Hookham of the Global Shippers’ Forum.

MSC is rebooting its hub operations for the ocean trades in and out of South Asia, industry updates suggest. The world’s largest container line is gradually switching its transhipment calls in Sri Lanka from Colombo to Hambantota Port (HIP), a new harbour developed by China Merchants Port Holdings. MSC has replaced a regular call at Colombo with HIP on its Far East-South Africa Ingwe service, featuring an updated rotation of Qingdao-Shanghai-Ningbo-Shenzhen (Shekou)-Singapore-Port Louis-Ngqura-Durban-Port Louis-Hambantota-Hong Kong-Tianjin-Qingdao. The carrier has also added a 12thvessel to the rotation “to enhance capacity and service reliability”. Industry sources said the port substitution would “cement MSC’s position in Asia-South Africa trade”, a corridor on which the Geneva-based liner has increased capacity in recent years, and follows a series of ad-hoc sailings at HIP to “test the water”. In April 2024, HIP, primarily designed as a multipurpose cargo gateway, launched container operations by hosting a call from theMSC Ingrid. At the time, CMPort said: “With MSC’s collaborative partnership, HIPG will now look at expanding our investment in equipment and other infra-structure facilities, enabling us to service larger vessels on the east west shipping route.” HIP embarked on multiple expansion projects to support regular calls from major container services, including $108m on harbour crane upgrades this year, claiming the expansion would almost double HIP’s box capacity, to 2m teu annually. “HIP’s location, just 10 nautical miles from the main east–west shipping route, positions it as a reliable and efficient option for shipping lines seeking minimal deviation and operational stability,” the Chinese conglomerate said. Meanwhile, Colombo Port has been under capacity pressure for some time, due to additional transhipment demand stemming from geopolitical disruption. Volumes reached a new high last month of 776,261 teu, from 761,096 teu in April, as Middle East-related diversions continued, according to the latest data. Competition for transhipment volumes out of the subcontinent region remains fierce, as new port developments take hold in India: Adani Ports’ Vizhinjam is already operating at full capacity, with its phase 2 expansion advanced in order to cope with projected demand. Vizhinjam also had record monthly throughput last month, handling 130,863 teu, data shows.

South Korean flagship carrier HMM wants to rebuild its intra-Asia shipping business, and is expanding its feeder fleet to pursue volumes. When long-haul container freight rates peaked during Covid, HMM shifted a large portion of its shipping capacity from the China-South-east Asia trades to the transpacific and Europe routes, to provide extra slots for South Korean exporters facing logistical difficulties. This saw HMM’s market share in intra-Asia shipping shrink to 0.5%, compared with 5% on the transpacific and Asia-Europe lanes. HMM now has 22 feeder ships on order, comprising 10 at 2,800 teu commissioned at HD Hyundai Heavy Industries in March; as well as seven 3,000 teu ships and five at 1,800 teu under construction at Huanghai Shipbuilding in China. Deliveries of these 22 ships are due to be completed by 2029, allowing HMM to re-establish its intra-Asia presence. In the meantime, this month HMM purchased two 1,956 teu newbuild resales from Fontek Manufactory, for $33.5m each. The vessels, to be delivered this year and next, are being built at Zhejiang Tenglong Shipbuilding. In January, HMM appointed Choi Young-soon as its head of South-east Asia, managing around 500 employees across 10 countries, based in Singapore. The Trump administration’s trade tensions with China have resulted in global tariffs, causing manufacturers to diversify from China and to other emerging regions, especially in South-east Asia, where the region’s share of HMM’s container volume has grown to 17%, from 11% in 2020. An HMM spokesperson toldThe Loadstarbroadening its intra-Asia network was part of the company’s mid-to-long term growth strategy. “We’re implementing a “hub-and-spoke” model to launch new routes to regions such as Africa, and we are focusing on securing stable new demand within the South-east Asian market,” she said. According to Container Trades Statistics (CTS), intra-Asia volumes for the first four months of the year stood at 16.6m teu, a 10% increase on the first four months of 2025. Source: Container Trades Statistics Meanwhile, intra-Asia spot freight rates have soared since the onset of the Iran conflict, asThe Loadstarpreviously reported, with Drewry’s Intra-Asia Container Index on 29 May showing average intra-Asia rates up 7% above the previous fortnight, at $1,008 per 40ft, a year-on-year increase of 54%.

The increasing volatility of fuel prices is adding to logistics cost pressures for Indian exporters/importers. The latest blow is a wave of emergency fuel surcharges announced by CMA CGM on the inland side for Indian trades to/from Africa. They cover shipments flowing in and out of South Africa, Tanzania, Mozambique, and Kenya, according to multiple trade notices issued by the French liner last week. And the scale of tariff hikes is staggering: going up to some 35% of the base rate for cargo loaded/unloaded in South Africa. Tanzania and Mozambique-related trades attract a 31% hike, with a 10% hike applying to Kenyan trade. “Due to the current geopolitical environment and the resulting uncertainty affecting international energy markets, fuel prices are expected to remain volatile in the coming weeks,” the Marseille-based carrier told Indian customers. “In order to continue providing reliable and sustainable inland transport services while ensuring transparency regarding fuel-related cost developments, CMA CGM will introduce an Inland Emergency Fuel Surcharge (IEFS) applicable to mode of transport impacted in each country,” it added. It explained: “Diesel, which represents a significant component of inland transportation costs, may therefore lead to short-term fluctuations in the operating costs of inland transport services.” CMA CGM is one of the frontline capacity participants in India-Africa trades, offering multiple weekly sailings. Its premier services include MIDAS and Swahili Express networks, according to available data. And the French carrier is not alone in seeking “contingency inland surcharges”. Singapore-based ONE last week updated the inland haulage fee implemented in March on shipments to/from Canada and the US by rail or truck or barge, also citing the impact of higher fuel costs. The updated inland fees vary wildly, going up to $1,100 per reefer box for outbound movement from Canada and the US in respect of some long-haul trucking points. The revised rates will come into effect on 1 July. “ONE will perform monthly evaluations to adjust this quantum based on the latest diesel price trends,” the carrier noted. The carrier has also revised bunker surcharges applicable to its shipping contracts in Q3 for trades from Asia to South/East/West Africa. Bilateral trade between India and Africa has seen steady traction in recent years, up nearly 15% year on year by value in fiscal year 2025-26, according to data. Ocean carriers have been able to drive freight rates up in recent week due to stronger demand, data from industry sources indicates. Booking rates from Nhava Sheva (JNPA) to Mombasa (Kenya) are currently in the region of $1,800 per teu and $2,000 per 40ft, sources said. “Vessel space has been tight for the last few weeks,” one source toldThe Loadstar. Check out this week’s News in Brief podcast, with exclusive content from Glyn Hughes, DG of TIACA, andThe Loadstar‘s Gavin van Marle

Intra-Asia rates are now more than 80% higher than before the US/Israel conflict against Iran, as bottlenecks hinder shipping lines’ attempts to move vessels out of the Middle East and refocus on Asia. Drewry’s Intra-Asia Container Index shows that on 29 May, average intra-Asia rates were 7% above the previous fortnight, at $1,008 per 40ft, a year-on-year increase of 54%. The China-India route led the way, with rates gaining 49%, to $1,753 per 40ft, followed by Indonesia-China, up 22% to $83 per 40ft. The Shanghai Containerised Freight Index shows the Shanghai-South-east Asia rate went up to $607 per teu on 29 May, from $585 on 22 May. Compared with the same period a year ago, rates are now 38% higher. As the conflict against Iran has limited seaborne transport to the Middle East, shipping lines have been refocusing on the growing lanes between East Asia, South-east Asia and the Indian subcontinent and today, Cosco launched its South-east Asia India Service 2, connecting Qinzhou, Xiaochan Beach, Haiphong, Singapore, Mundra, Singapore, Hong Kong, and Qinzhou. The service will turn in 35 days and will deploy five 3,300-4,400 teu ships, starting with the 4,250 teuXin Tai Cangfrom Qinzhou today. It will offer the first direct connection between Haiphong and India. Also, from 21 June, Gold Star Line (GSL) will back out of its joint Far East-Western India service with KMTC Line, Evergreen and Emirates Shipping Line (ESL) to team with Global Feeder Shipping to offer a revised New India Express service, covering Shanghai, Ningbo, Dachan Bay, Port Klang, Nhava Sheva, Hazira, Mundra, Port Klang, Haiphong, and Shanghai. The loop, which removes Colombo and Singapore calls, will continue to turn in six weeks, using five 4,300-5,600 teu ships. KMTC Line, Evergreen and ESL will continue their cooperation, but with six 5,500-9,500 teu vessels calling at Shanghai, Ningbo, Shekou, Port Klang, Nhava Sheva, Hazira, Mundra, Port Klang, and Shanghai. Calls at southern China have been moved from Dachan Bay to Shekou, while Colombo is dropped. Drewry Shipping Consultants MD Philip Damas toldThe Loadstarcapacity on the North Asia-Middle East and South-east Asia-Middle East routes had collapsed by 70.6% and 67% year on year, respectively. He added: “This structural retreat is likely a response to ongoing geopolitical friction and operational realignments that have coincided with a demand spike. In contrast, other regional corridors are seeing supply injections as carriers pivot toward manufacturing hubs with higher reliability.” Capacity on South Asia-North Asia and South Asia-South-east Asia routes has grown 43% and 51% in the year to April. Mr Damas commented: “These increases are however being blunted by operational bottlenecks. Port utilisation in major hubs like Singapore remain at critical levels, with rolling pools of displaced containers forcing carriers to prioritise westbound traffic, which in turn slows the repositioning of empty units into South Asian corridors.” Xeneta’s chief analyst, Peter Sand, toldThe Loadstarthat Asian exporters were driving the redrawing of routes. He said: “Networks are adjusted not only away from calling Jebel Ali/Damman or the like. but also internally in Asia. This should not be mistaken for a lower level of capacity, but merely network disruption and changes.”

Container capacity on the trades between India and China is seeing a rapid increase in response to strong green shoots of demand growth. And Ningbo Ocean Shipping (NOS) is the newest participant in the booming market. The carrier has debuted through a slot deal on vessels operated by Singapore-based X-Press Feeders, which has significantly expanded its network in recent weeks. A call from theX-Press Capellathis week at Nhava Sheva Port (JNPA) marked the newcomer’s entry into Indian trades. The service offers direct connectivity between the busiest gateways at both ends. In China, Ningbo-Zhoushan, merged in 2006, is said to be the world’s largest cargo tonnage handler, aided by large industrial clusters in and around the harbour. Ningbo-based NOC claims it has similar booking partnerships with several other mainline carriers, including Cosco, YML, ONE, HMM, Wan Hai, TS Lines and KMTC. The Indian market foray ties in with its efforts to broaden its trade profile in the region from regional NVO to long-haul service provider. CULines and Sinotrans Container Lines (Sinolines) are also new entrants in the market, bringing aggressive growth strategies. Last month, CULines added two new intra-Asia services, primarily targeting container trades between China and India. The standalone CGX has a rotation of Qingdao-Shanghai-Ningbo-Shekou-Nansha-Port Klang-Mundra-Karachi-Sohar-Khor Fakkan-Qingdao. “CULines will continue to monitor global developments and dynamically optimise its services and operations,” the carrier said. Sinolines, which ventured into India trades in 2023, recently said it was considering adding new port pairs within Asia and beyond to its Indian network “to take advantage of brightening growth potential”. This month it signed contracts with multiple Chinese shipyards for a dozen new containerships – four 8,200-teu vessels, four at 3,000 teu, and four at 1,800 teu – with deliveries expected to begin in 2027. One major factor driving capacity injection into the intra-Asia market is that ocean freight rates have markedly strengthened alongside demand, industry data reveals. Sources say trade flows have become more balanced, with Indian exports, to the Far East, China, and Vietnam mainly, gaining pace steadily over the past few years. Historically, carriers had been thriving on imports into India, with little laden-lifting on the eastbound leg. Jitendra Srivastava, CEO of Mumbai-based Triton Logistics & Maritime, said even as India-China bilateral trade patterns continued to be asymmetrical, the outlook remained increasingly buoyant for logistics service providers. “The surge in demand is now accelerating shipping frequency, infrastructure expansion and capacity upgrades across major Indian ports to manage growing freight volumes,” he toldThe Loadstar. Rates from Shanghai to JNPA are now in the region of $1,800 to $2,000 per 40ft, matching the levels for bookings to North Europe.JNPA to Shanghai rates have moved out of negative territory, and are now hovering at $200 to $250 per 40ft, data indicates.

Embattled Singamas Container Holdings executive chairman Teo Siong Seng said today he would take leave of absence from his concurrent role as Pacific International Lines’ (PIL) executive chairman, after the US Justice Department (DoJ) indicted him forcartel-like behaviourwith fellow container makers. On 19 May, the DoJ indicted Mr Teo (pictured) for allegedly colluding with Chinese container-makers CIMC, Shanghai Universal Logistics Equipment (also known as Dong Fang International Container), and CXIC to raise the prices of dry containers by reducing output. The alleged actions were carried out between November 2019 and January 2024. Chinese container manufacturers (Singamas is listed on the Hong Kong Stock Exchange, but its factory is in China) produce 95% of the world’s containers, and the DoJ claims their alleged cartel-like behaviour made US consumers pay more and wait longer for goods. And this coincided with the logjams during Covid, enabling a 100-fold surge in the container makers’ profits. US court documents show that, days after a December 2019 meeting between the alleged conspirators, a Singamas executive reported to Mr Teo that he had reminded the others “not to be high-profile since it might violate the monopoly law or be accused of price manipulation by our customers”. Allegedly, Mr Teo replied to the executive’s report on the meeting that “we also need to keep low-key”. When another Singamas board member said in an email that the discussions “appeared to be anti-competition”, and suggested deleting the email chain, Mr Teo allegedly replied: “Yes I feel the same.” CIMC chairman and CEO Mai Boliang has also been indicted, with Singamas marketing director Vick Ma arrested in France in April and awaiting extradition to the US. Apart from Mr Teo, a Singaporean, all those are Chinese nationals. Mr Teo’s late father, Chang Yun Chung, founded PIL in 1967, but after years of pre-Covid losses, the Singapore-based company struggled and was bailed out by Heliconia Capital Management, a unit of the Singapore government’s investment group Temasek Holdings, in early 2020. The bailout restructured $3.3bn of debt, but diluted the Teo family’s stake to 15%. Mr Teo stayed on as PIL’s executive chairman. His temporary departure from PIL, the 12th-largest liner operator, represents a growing distancing from his corporate and public roles amid the price-fixing debacle. On 22 May, Singapore’s Ministry of Trade and Industryannouncedthat Mr Teo had stood down from his role as chairman of the Singapore Business Federation and as a director of Enterprise Singapore, a statutory board under the government. Mr Teo said today he would not seek re-election as SBF chairman, and was standing down from his post as the National University of Singapore’s pro-chancellor. He said: “I have proactively decided to take these leaves of absence to afford myself sufficient time to attend to this matter [the DoJ indictment], and for the best interests of the aforementioned organisations.”

Singamas Container Holdings chairman and CEO Teo Siong Seng has now been indicted by the US Department of Justice (DoJ), accused of conspiring with three other container manufacturers to fix prices. The Ministry of Trade and Industry in Singapore said today that Mr Teo would stand down from his roles at the Singapore Business Federation, Singapore Economic Resilience Taskforce, and Enterprise Singapore. Mr Teo informed the ministry that he would “address the DoJ’s allegations”. The Singaporean entrepreneaur became SBF chairman in May 2025, automatically making him part of SERT, which was formed last year to help businesses and workers deal with the impact of US tariffs. His duties as SBF chairman will be assumed by vice-chairman and treasurer Mark Lee. As reported byThe Loadstaryesterday, Mr Teo and China International Marine Containers chairman Mai Boliang are among seven executives from container makers, including Shanghai Universal Logistics Equipment (a Cosco unit also known as Dong Fang International Containers) and CXIC Group Containers named by the US in an alleged price-fixing conspiracy involving restricting production of dry containers to raise prices, between November 2019 to at least January 2024. The US DoJ said that as a result of the conspiracy, prices of dry containers doubled between 2019 and 2021, increasing container manufacturers’ profits by about 100-fold during the Covid pandemic, when container freight rates reached historical highs. US court documents show that after a December 2019 meeting between the alleged conspirators, a Singamas executive reported to Mr Teo that he had reminded the others “not to be high profile since it might violate the monopoly law or being accused of price manipulation by our customers”. In April, Singamas marketing director Vick Ma was arrested in France and is awaiting extradition to the US. Singamas said in a Hong Kong Stock Exchange filing that neither it nor Mr Teo had been notified of the US indictment, adding that it had engaged lawyers. Mr Teo is known to be well connected to the Singapore government and was previously a nominated Member of Parliament. His late father, Chang Yun Chung, founded Pacific International Lines in 1967, but the family ceded control to a unit of Singapore’s state-owned investment group Temasek Holdings, following a bailout in 2020. The bailout restructured $3.3bn of PIL’s debt, saving the company from collapse. Listen now for a data-rich deep dive into the volatility redefining global shipping in 2026

China’s container manufacturing heavyweights are on the ropes, having been indicted by the US Justice Department (DoJ) for conspiring to fix prices and restrict equipment Ironically, the news broke just as President Trump returned from a visit to Beijing intended to thaw relations with China. Alongside seven executives, China International Marine Containers (CIMC), CXIC Group Containers, Shanghai Universal Logistics Equipment and Singamas Container Holdings have been indicted over claims they colluded to limit container production and fix prices. US attorney for the Northern District of California Craig Missakian said: “These defendants, as alleged, sought to exploit a global pandemic to increase their own profits. We will not tolerate any attempt to manipulate free markets.” DoJ officials this week unsealed the indictment claiming a “multi-year conspiracy” resulted in the doubling of shipping container prices between 2019 and 2021 and a one hundredfold increase in the box manufacturers’ profits. Of the seven individuals involved, former Singamas marketing director Vick Nam Hing Ma was arrested in France in mid-April and is awaiting extradition to the US to stand trial – his arrest resulted in the decision to unseal the indictment His six co-defendants remain at large and include former CIMC, CXIX, and Singamas CEOs Boliang Mai, Yuqiang Zhang, and Siong Seng Teo – all are believed to be residing in China, except Mr Teo who is thought to be in Singapore. At the centre of the alleged conspiracy was an effort to artificially restrict the output of new containers hitting the market, thereby allowing the manufacturers to significantly ramp up prices. The impact of this became particularly pronounced within months, when lockdowns essentially stranded available equipment all over the world, exacerbating the shortfall and further spiking demand for new boxes to be made available. According to the indictment, those accused entered into a written agreement which required them to limit “the number of shifts and hours that each production line for standard dry containers could run per day” and prevent additional production lines being added to existing operations. Furthermore, this “Moon Gazing Fund Contract” required the conspirators to install CCTV… “in all production lines in March 2020” and to submit a deposit for each factory that would be lost if any factory broke the agreement. Reports have suggested that US authorities began tracking the companies’ prices in 2020 or 2021, withthe DoJ later blocking CIMC’s efforts to acquire Maersk’s reefer manufacturing unit, Maersk Container Industry,for $1bn in 2022. Had the deal gone through, it would have combined two of the world’s four suppliers of insulated containers, handed a 90% market share to Chinese state-owned enterprises, and “cemented CIMC’s dominant position in an already consolidated industry”, said the DoJ. Following the indictment’s unsealing, the share prices of all the indicted box manufacturers collapsed. Listen now for a data-rich deep dive into the volatility redefining global shipping in 2026

Intra-Asia container freight rates have reached a two-year high as the peak season (July-October) is brought forward and demand grows. Drewry’s Intra-Asia Container Index showed, on 15 May, rates averaged $939 per 40ft, up from $918 a fortnight ago, and 43% higher year on year. Also on 15 May, the Shanghai Containerised Freight Index showed Shanghai-South-east Asia rates averaged $570 per teu, up $7 on 8 May and 31% higher year on year. Drewry MD Philip Damas toldThe Loadstaroil prices were the most critical factor in intra-Asia rates. He said: “These changes continue to push up the Drewry Intra-Asia Container Index week after week, and the index is now 70% higher than before the start of the Iran conflict, with no sign of softening spot rates as long as the Strait of Hormuz remains closed.” Drewry’s senior consultant, Stijn Rubens, addedthat the upward trajectory of freight rates was encouraging front-loading. “Shippers are uncertain of future increases and are therefore ordering their goods earlier. This brings forward the seasonality of the peak season, rather than increasing demand overall.” Meanwhile, shipping lines have been launching more intra-Asia services to meet the demand. X-Press Feeders and OOCL have introduced a South China Java X-Press (SCJX)/China-Indonesia Service 3 (CIS3) service, using three vessels of up to 2,900 teu, on a 21-day rotation of Xiamen-Nansha-Jakarta-Surabaya-Yantian-Xiamen. And CMA CGM’s intra-Asia arm, CNC Line, recently offered a direct service to the North Sumatran port of Kuala Tanjung by introducing fortnightly calls at Kuala Tanjung to its South China-Straits-Bangladesh-Vietnam BBX3 service. The updated rotation is Nansha-Chiwan-Chittagong-Kuala Tanjung (fortnightly)-Singapore-Port Klang-Da Nang-Nghi Son-Haiphong-Nansha. It continues to turn in five weeks with five 1,700 to 2,200 teu vessels, with the 2,202 teuCMA CGM Fujimaking the loop’s debut at Kuala Tanjung on 11 May. The BBX3 also provides the Indonesian port with direct connections to Bangladesh, Vietnam, and China. Listen now for a data-rich deep dive into the volatility redefining global shipping in 2026

The highlight among containership newbuilding orders this week is six 15,900 teu vessels ONE is understood to have commissioned at South Korea’s HD Hyundai Heavy Industries. The yard announced the order but did not disclose the customer’s identity, however, MB Shipbrokers named Japanese liner grouping Ocean Network Express. The Danish brokerage added: “The project further expands ONE’s growing portfolio of alternative-fuel tonnage across multiple yards.” The LNG dual-fuelled newbuildings will cost $203m each and be delivered by the end of 2029. It appears that Singapore-headquartered ONE, whose 2025 net profitplummeted 92%year on year, to $338m, has cautiously pared its newbuild plans from 22 ships to six. The original plan comprised six 13,000 teu vessels, with options for six more, and six at 15,000 teu, plus options for four more. ONE said it “does not comment on market speculation or third-party disclosures”. The carrier has a sombre outlook for container shipping this year and expects net profit to fall again, to $300m. Elsewhere, newbuilding orders continue to be concentrated on the feeder sector, highlighting the growth of regional trades and its aging fleet. John Su’s Athens-based Erasmus Shipinvest has commissioned four 2,400 teu ships at Taizhou Sanfu Ship Engineering, his third boxship order of the year. At $45m each, they will be delivered between 2028 and 2029, with options for two more. Last month, Erasmus ordered a 1,800 teu pair from CSSC Huangpu Wenchong Shipbuilding, with options for two more. Ningbo Ocean Shipping has ordered four 1,900 teu ships at Wuchang Shipyard, each estimated to cost around $32m, to be delivered in 2028. In January, the company exercised options for a 4,300 teu pair at Wenchong, at $57.5m each, after an initial order for four ships last August. The orderbook-to-fleet ratio is now estimated to be at least 39% of the active fleet, prompting overcapacity concerns once deliveries start in 2028, and orders are not about to slow down. MB Shipbrokers said: “Several projects across different size segments remain under negotiation, and we expect to report further new orders in the coming weeks.”

Hong Kong’s effort to rebuild itself as an international shipping centre continues. The territory’s Legislative Council met yesterday to debate a motion by lawmaker Yiu Cho-fai to strengthen Hong Kong’s shipping ecosystem in the face of competition from neighbouring ports on the Chinese mainland. Hong Kong’s secretary for transport and logistics, Chan Mei-po, told the council a multi-pronged strategy was being implemented, including cooperation with ports in the Greater Bay Area, namely those in Macau and Guangdong province, particularly Yantian. “Hong Kong’s port continues to serve as a key transhipment hub and ‘time-stopping port’, thanks to its free port status, fast customs clearance, high efficiency, and strong international network,” Ms Chan claimed. In 2025, containerships spent an average of just 1.03 days in Hong Kong Port, far less time than the 1.99-day average of the world’s top 20 container ports, she claimed. “We’re deepening our integrated rail-sea-land-river transport system, allowing goods from inland provinces and cities such as Chongqing and Chengdu to be transported via rail-sea intermodal transport through Yantian Port or Guangxi, and then transferred to the Kwai-Yantian Link barge service, or ‘daily service’, to be loaded onto ships in Hong Kong. “The process can be completed in as little as three days, allowing goods to be exported to overseas markets via Hong Kong, significantly improving logistics efficiency.” Ms Chan said Hong Kong’s Kwai Tsing Container Terminal and Yantian, due to their different shipping routes served and complementary strengths, could generate mutually beneficial effects through cooperation. In August 2024,The Loadstarobserved that, as container throughput in Hong Kong had seen a long-term downward trend, particularly with rising competition from Shenzhen and Nansha, the special administrative region had chosen toalign with, or operate through,these growing Chinese ports rather than relying solely on traditional transhipment in Hong Kong. Despite its efficiency at handling containerships, Hong Kong’s box volumes declined for the fourth consecutive year in 2025, to 12.99m teu, compared with 13.69m teu in 2024. Hong Kong’s faded prominence is a far cry from its halcyon days in the 1990s, when it often competed with Singapore to be the world’s busiest container port. The Hong Kong government is also encouraging the industry to seize development opportunities in the Central and South American markets to build high-end import brands. Ms Chan cited the seasonal Cherry Express service, which transports cherries from Chile to Hong Kong and then to wholesale markets in South China within hours, as a one success story. Besides cooperating with mainland Chinese ports, the Hong Kong government has been working on digitalising its port. In January, the port community system was launched as the core digital infrastructure for smart ports. Using AI, blockchain, and big data technologies, the system provides 24-hour real-time cargo tracking, connecting sea, land, and air transport information. “Within just four months of the system’s launch, the number of registered businesses has exceeded 6,000,” said Ms Chan. “The logistics data within the system has also been recognised by nine local banks, thus facilitating the digital flow of trade and capital,” she added.