February 28, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

February 28, 2024.png

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From the Editor’s Desk

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The situation in the Bab Al-Mandab Strait remains unresolved with ongoing attacks by Houthi forces.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">On February 20th, the EU initiated the Aspides Mission to safeguard ships in the Suez Canal, deploying 4 frigates for protection.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Rates are decreasing for the initial half of March, with a noticeable contrast between certain carriers in the UK market and those in North Continent Ports, primarily attributed to low demand extending from post-Q4 into Q1 2024.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">ONE is set to introduce a new shipping route, AP1 loop, connecting Vietnam, China, Taiwan, and the USA by early May. The loop will be a collaborative effort with Wan Hai lines, spanning an 8-week cycle.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The Panama Canal Authority has unveiled plans to allocate over $8.5 billion in capital investments for sustainability projects in the next 5 years.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Notably, this investment surpasses the $5.4 billion cost of the Panama Canal expansion, marking it as the most substantial improvement project in the Canal's history.</li></ul>Read on for more in-depth updates.

Key takeaways for the US

Ocean Freight Market Updates

Freight market update - 28 February 2024

February 21, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

February 21, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Vessel delays are a result of reroutes around Africa, severe North Sea weather, and disruptions near Benelux ports and Hamburg.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Hapag-Lloyd's update reveals yard utilization levels at Rotterdam, Hamburg, and Southampton increased from 55% to 85%-90% due to delayed vessel arrivals.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">North American container ports, especially on the U.S. East and Gulf coasts, are experiencing congestion from diversions through Panama and Suez canals.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">U.S. container import volumes in January 2024 showed the most significant month-over-month increase in the last seven years, as reported by Descartes Systems Group based on U.S. customs filings.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Westports Holdings, Malaysia's largest port operator, is contemplating external investors to finance an $8.3 billion expansion, with the goal of nearly doubling its capacity by 2082.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The freight and logistics market in Turkey is projected to grow by USD 10.30 billion between 2022 and 2027, with a forecasted Compound Annual Growth Rate (CAGR) of 7.2% during the period.</li></ul>Read on for more in-depth updates.

Freight market update - 21 February 2024

February 14, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

February 14, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">CMA CGM has halted ships from using the Suez Canal and is rerouting them through the Cape of Good Hope, following the lead of other major carriers.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Rates from Asia to North Europe have been decreasing among various carriers in the second half of February.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Long-term deal negotiations are expected to take place after Chinese New Year (CNY), as carriers reevaluate demand patterns.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">US container import volumes increased by 7.9% in January 2024 compared to December 2023, the largest month-over-month growth for January in the last seven years.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The growth is fueled by a 14.9% rise in imports from China, with the ports of LA and Long Beach handling the majority of the volume.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The daily limit of ships transiting the Panama Canal will remain at 24 until the end of the dry season in April.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">BIMCO's recent Shipping Number of the Week report reveals a 0.2% year-on-year growth in the container market for 2023, contrasting with a 1.5% growth in 2019.</li></ul>Read on for more in-depth updates.

Freight market update - 14 February 2024

February 07, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

February 07, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Sea-Intelligence indicates a -5-percentage point drop in global schedule reliability for December 2023 compared to November, reaching 56.8%, the second-lowest level of the year and just 0.4 percentage points higher than December 2022.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">January saw a 10% year-on-year increase in air cargo volumes, attributed to an early Lunar New Year and shippers' concerns over the Red Sea; however, this surge did not lead to higher rates due to ample available capacity.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">High rates and fully booked flights are reported from Shanghai (SHA) to Europe and the US this week.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Due to the Chinese New Year holiday, long-distance trucking services will cease from January 31, while short-distance services will stop from February 6. Businesses are advised to check and ship out cargo before the holiday.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Container shipping lines plan to transfer EU Emissions Trading System (ETS) surcharges to shippers based on the "polluter pays" principle, raising concerns about the transparency of these charges.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The ITS Logistics US Port/Rail Ramp Freight Index notes increased Transpacific volumes on the US West Coast, driven by shippers aiming to avoid potential congestion at US East Coast ports.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">This redirection is also influenced by vessel rerouting due to the Panama Canal and the seasonal Lunar New Year restock.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">China's road logistics price index increased by 0.03 percent week-on-week from January 29 to February 2, reaching 1,038.95 points.</li></ul>Read on for more in-depth updates.

Freight market update - 07 February 2024

Explore the Comprehensive Guide to Shipping Container Dimensions for 2024, covering the evolution, uses, and key sizes of containers like 20ft, 40ft, and High Cube options. Understand how to maximize space and efficiently utilize these containers for shipping, storage, and innovative architectural solutions.

Infographic showing various shipping container dimensions

Shipping Container Dimensions

<div class="raw-html-embed">


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Shipping containers have become pivotal in global trade, serving as the backbone for the secure and efficient transportation of goods. Their application extends beyond their primary use, venturing into innovative architectural designs and creative storage solutions. This guide focuses on the evolution, uses, and most crucially, the dimensions of shipping containers. 
&nbsp;

<h2>The Evolution and Multifaceted Uses of Shipping Containers</h2>

The journey of shipping containers began in the 1950s, introducing a transformative approach to global trade. Prior to their introduction, cargo loading was a laborious and inefficient task. The emergence of standardized shipping container sizes, particularly the 20-foot and 40-foot variants, revolutionized logistics and reduced transportation costs. Understanding the size of shipping containers is essential for optimizing packing, shipping, and storage processes, as well as for their various non-shipping applications. 
&nbsp;

<h2>Understanding the Sizes and Dimensions of Shipping Containers</h2>

There are several shipping containers of various dimensions available. Some standard container dimensions include

<h3>20ft Shipping Container: Compact and Versatile</h3>

A 20ft shipping container is a popular choice for smaller loads, offering versatility and compactness. Its dimensions are 20 feet in length, 8 feet in width, and 8.5 feet in height, making it suitable for businesses with moderate shipping requirements. The 20 foot container dimensions make it an efficient option for various applications.

<h3>40ft Shipping Container: The Industry Standard</h3>

Standing as the industry standard, the 40 ft shipping container provides ample space for bulk cargo. Measuring 40 feet in length, 8 feet in width, and 8.5 feet in height, this size is ideal for transporting large quantities of goods. The 40ft shipping container dimensions are a key factor in its widespread use in container shipping.

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<div class="raw-html-embed"><h2>Infographic 1: Standard Shipping Container Dimensions</h2>

<table>
	<tbody>
		<tr>
			<th style="text-align:left">Container Type</th>
			<th style="text-align:left">Length</th>
			<th style="text-align:left">Width</th>
			<th style="text-align:left">Height</th>
		</tr>
		<tr>
			<td>20ft Shipping Container</td>
			<td>20 feet (6.10 meters)</td>
			<td>8 feet (2.44 meters)</td>
			<td>8.5 feet (2.59 meters)</td>
		</tr>
		<tr>
			<td>40ft Shipping Container</td>
			<td>40 feet (12.19 meters)</td>
			<td>8 feet (2.44 meters)</td>
			<td>8.5 feet (2.59 meters)</td>
		</tr>
	</tbody>
</table>

In addition to standard options, there are specialized shipping container sizes to cater to specific needs.

<h3>High Cube Containers: Extra Height for More Space</h3>

High Cube containers provide an extra height advantage, standing at 9.5 feet tall. This additional vertical space is particularly useful for storing taller items or implementing multi-level storage solutions.

<h3>Customized Container Options</h3>

For unique shipping requirements, customized container sizes are available. These modifications may include changes in length, width, or height, tailored to specific cargo or transport needs. 
&nbsp;
</div>

<div class="raw-html-embed"><h2>Infographic 2: Specialized Shipping Container Sizes</h2>

<table>
	<tbody>
		<tr>
			<th style="text-align:left">Container Type</th>
			<th style="text-align:left">Length</th>
			<th style="text-align:left">Width</th>
			<th style="text-align:left">Height</th>
		</tr>
		<tr>
			<td>High Cube Container</td>
			<td>Varies (commonly 20 or 40 feet)</td>
			<td>8 feet (2.44 meters)</td>
			<td>9.5 feet (2.89 meters)</td>
		</tr>
		<tr>
			<td>Customized Containers</td>
			<td>Variable based on customization</td>
			<td>Variable based on customization</td>
			<td>Variable based on customization</td>
		</tr>
	</tbody>
</table>

Detailed Analysis of Shipping Container Dimensions

<h2> 
Detailed Analysis of Shipping Container Dimensions</h2>

A thorough understanding of both internal and external shipping container dimensions is crucial for the efficient packing and utilization of space. It's important to note that internal dimensions can slightly vary due to factors like insulation and wall thickness, which affect the container's usable space.

<h3>Door Opening Sizes: Accessibility and Convenience</h3>

The dimensions of container door openings are pivotal for the convenience of loading and unloading. Standard shipping container doors are typically around 7.6 feet wide and 7.9 feet high, offering sufficient accessibility for various types of cargo.

<h3>20ft vs. 40ft Containers: A Comparison</h3>

The choice between a 20ft and a 40ft shipping container hinges on the volume and nature of the cargo. Although the 40ft container provides more space, it might not be the most cost-effective option for smaller shipments. A comparative analysis of each size is vital to optimize shipping costs and ensure efficient cargo transportation.

<h2> 
Infographic 3: Internal and External Dimensions of Shipping Containers</h2>

<table>
	<tbody>
		<tr>
			<th style="text-align:left">Dimension Type</th>
			<th style="text-align:left">Internal Dimensions</th>
			<th style="text-align:left">External Dimensions</th>
			<th style="text-align:left">Door Opening Sizes</th>
		</tr>
		<tr>
			<td>Length</td>
			<td>May vary due to container construction</td>
			<td>Varies (20 or 40 feet standard)</td>
			<td>Variable based on customization</td>
		</tr>
		<tr>
			<td>Width</td>
			<td>Consider factors like insulation and wall thickness</td>
			<td>8 feet (2.44 meters)</td>
			<td>7.6 feet (2.31 meters)</td>
		</tr>
		<tr>
			<td>Height</td>
			<td>-</td>
			<td>8.5 feet (2.59 meters)</td>
			<td>7.9 feet (2.39 meters)</td>
		</tr>
	</tbody>
</table>

Practical Considerations for Shipping Container Usage 
&nbsp;

<h2>Practical Considerations for Shipping Container Usage</h2>

<h3>Load Capacity: How Much Can Shipping Containers Hold?</h3>

Each container has a specific maximum payload, which includes the container's tare weight and the cargo. Understanding this load capacity is vital to prevent overloading, which can cause safety hazards and legal complications.

<h3>Weight Considerations: Understanding the Limits</h3>

It's also important to consider the weight of the container itself. This is crucial for transportation logistics, ensuring that the transport method can support the total weight of the container and its contents.

<h3>Storage Solutions</h3>

Shipping containers are increasingly used for on-site storage solutions. Their durability and weather resistance make them suitable for storing various items, from household goods to construction equipment.

<h3>Commercial and Residential Adaptations</h3>

Containers are also being used by architects and designers for constructing commercial spaces, homes, and multi-unit housing. Their adaptability enables unique and sustainable architectural designs.

<h3>Tips and Tricks for Maximizing Shipping Container Space</h3>

<h4>Efficient Packing Strategies</h4>

To maximize space within a container, it's essential to pack strategically. Efficiently using the container's full volume and securing cargo properly are key to preventing damage and optimizing space utilization.

<h4>Protecting Goods in Transit: Avoiding Shipping Damage</h4>

Protective measures, such as bracing and cushioning, are important to prevent damage during transit. Preparing for the stresses of shipping ensures that goods arrive in their best condition.

<h4>Container Modifications for Enhanced Utility</h4>

Modifying containers can significantly enhance their utility. Additions like windows, doors, or custom storage solutions can transform a standard container into a versatile space for various uses.

<h2>FAQs on Shipping Container Dimensions and Weights</h2>

<h3>1. How wide is a shipping container?</h3>

While this is a general value, it's crucial for making informed decisions. A standard shipping container typically has a width of 8 feet (2.44 meters).

<h3>2. How big is a shipping container?</h3>

Shipping containers vary in size, from the compact 20-foot to the spacious 40-foot. They have a standard width of 8 feet and a height of 8.5 feet.

<h3>3. How much does a shipping container weigh?</h3>

The weight of a shipping container, crucial for transportation and logistics planning, depends on its size and construction. On average, a 20-foot container weighs around 2,200 kilograms (4,850 pounds), and a 40-foot container weighs approximately 3,800 kilograms (8,380 pounds).

<h3>4. How tall is a shipping container?</h3>

Standard shipping containers are typically 8.5 feet (2.59 meters) tall. However, high cube containers, offering extra height, can be 9.5 feet (2.89 meters) tall.

<h3>5. How much does a 20 ft shipping container weigh?</h3>

A 20-foot shipping container typically weighs around 2,200 kilograms (4,850 pounds). This figure includes both the tare weight of the container and any cargo it may carry.

<h3>6. How much does a 40 ft shipping container weigh?</h3>

The average weight of a 40-foot shipping container is approximately 3,800 kilograms (8,380 pounds). Similar to the 20-foot variant, this includes the container's tare weight and the weight of any cargo.

<h3>7. How much does a 20-foot shipping container weigh?</h3>

The weight of a 20-foot shipping container is typically around 2,200 kilograms (4,850 pounds), encompassing both the container's weight and its standard cargo capacity.

<h3>8. How much does a 20' shipping container weigh?</h3>

A 20' shipping container, synonymous with a 20-foot container, has an average weight of about 2,200 kilograms (4,850 pounds). This includes the weight of the container itself and any loaded cargo.



</div>

Maximizing Space in 2024: The Comprehensive Guide to Shipping Container Dimensions

January 31, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

Add a heading.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Businesses are altering shipping strategies to mitigate potential delays in exporting goods from Asia to Europe and North America.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Data reveals an 11% rise in average short-term rates from the Far East to the Mediterranean, reaching USD 6,507 per FEU by February 2nd, marking a 243% surge since mid-December.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Rail workers in Germany have launched a week-long nationwide strike from January 23 to 29, citing disputes over working hours, conditions, and pay.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">ERFA criticizes the strike as disproportionate and expresses concern about severe financial damage to rail freight companies.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The South Korean Oceans and Fisheries Ministry is providing 400 TEUs of spot capacity for small and medium-sized enterprises and 1,100 TEUs of capacity for cargo owners with long-term contracts.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The Red Sea conflict's prolonged nature is disrupting global shipping routes, leading vessels to take longer routes around Africa, resulting in higher CO2 emissions, as reported by Sea-Intelligence.</li></ul>Read on for more in-depth updates.

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