News

Panama Canal Authority Increases Daily Transit Slots For Improved Access

The Panama Canal Authority (ACP) has increased the number of daily slots available in the Panamax locks in response to Gatun Lake’s current and expected levels. The canal has suffered a record drought since June last year, so the decision is a relief. The canal operates below its typical maximum capacity, but with three additional slots added daily, the maximum number of transits per day is now 27. Although circumstances have improved, this is over ten slots below the waterway’s usual limit.

US-China Container Leasing Costs Triple Amidst Red Sea Crisis

Global shipping rates increased following the Red Sea crisis, with China-US container leasing rates tripling within three months. The expectations of container demand recovery reportedly align with the US economy’s resilience, as GDP increased by 3.3% in Q4 2023.

Suez Canal Revenue Drops As Vessels Reroute Due To Rising Conflict In Yemen

The Suez Canal, an essential worldwide commercial route between Asia and Europe, has experienced a significant drop in revenue due to the escalating conflict in Yemen. Major shipping companies have had to reroute due to attacks by Yemeni terrorists on their vessels in the Red Sea, avoiding the channel and resulting in an almost 50% decrease in revenue for Egypt’s Suez Canal Authority in January. Suez Canal Authority chief Osama Rabie stated that revenue fell from $804 million in January 2023 to roughly $428 million in January 2024. Rabie also reported a 36% drop in the quantity of ships using the canal.

World’s First Dual-Temperature Refrigerated Container With Controlled Atmosphere Function Unveiled

This innovative container features a detachable divider for separate temperature zones in the centre. The section next to the reefer unit can handle frozen and chilled temperatures, keeping products between -30 °C and +30°C, just like regular refrigerated containers. In the meantime, a thermal blower in the other compartment drives cold air through the roof to maintain cargo preservation between -5 °C and +30°C. The partition can be adjusted to meet the client’s needs due to its adjustable placement. It can be easily stored in the ceiling, turning the container into a regular refrigerator when it’s not in use.

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