Hurricane Matthew, now a Category 3 hurricane, is nearing the Florida Space Coast with dangerous storm surge, destructive winds and flooding rainfall stretching into Georgia and South Carolina by the weekend.
China is going through a big political revolution and the economy is slowing down much more than official figures show
With 530,000 containers under their control globally the failure of Hanjin Shipping has inevitably had a negative impact on the available capacity in the the Asia/North Europe trade, which had already been reduced by almost 10% in the last 15 months.
Hanjin Shipping have provided an update on its vessels locations, with the vast majority still “waiting in open sea” for instructions from headquarters.
Despite a US court ruling that Hanin’s ships could dock under provisional bankruptcy protection and a Rotterdam court setting ceilings for release charges, most global shippers are struggling to retrieve their consignments.
Cross-channel road services are being severely disrupted with Calais effectively on lockdown as hundreds of lorries form running blockades, to protest against the Jungle migrant camp.
Within a day of Hanjin Shipping filing for bankruptcy protection spot rates were soaring by 39%, as shippers rushed to find alternative space.