CONTAINER prices in North America are soaring as trade and tariff concerns add to market volatility, reports New York's FreightWaves
CONTAINER prices in North America are soaring as trade and tariff concerns add to market volatility, reports New York's FreightWaves. A 20 per cent spike in average container prices over the past 90 days has positioned the region at the forefront of a global surge, driven by factors such as US election uncertainty, growing Mexico-U.S. trade, tariff fears, and logistical disruptions in Canada, the December forecast from container marketplace Container xChange reveals.
The report projects that container prices and freight rates will remain elevated amid market instability.
'Tariffs make trade less efficient by adding costs, time, and complexity,' said Container xChange CEO Christian Roeloffs.
'For instance, instead of straightforward routes, businesses may rely on transshipments, rerouting through Mexico, or diversifying production and assembly sites. This inefficiency requires additional capacity, much like what we saw during Red Sea diversions.'
Matsons LNG-powered ship enters service
MATSON's containership Kaimana Hila is back in service after completing its conversion to be able to use liquefied natural gas (LNG) as fuel, reports Sarajevo's LNG Prime.
The Kaimana Hila is Matsons third vessel to operate on LNG, joining its sister ship, Daniel K Inouye and Manukai, Matson said in a statement.
The vessel now also has a new bow windshield for improved aerodynamics and fuel conservation.
According to its AIS data provided by VesselsValue, the 2019-built 3,600-TEU containership left Cosco Shipping Shipyard (Nantong) in October.
Earlier this year, the US shipping firm awarded a retrofit contract to Cosco Shipping Shipyard (Nantong) for the containership to enable the vessel to use LNG as fuel.
The shipbuilder said the project included the installation of the LNG fuel gas supply system for the main engine and four auxiliary engines, the installation of three 1,350-cbm LNG fuel tanks, and other equipment.
Germanys MAN said last year that Matson exercised an option from the original contract in June 2022 to convert the main engine aboard its Kaimana Hila.
The contract included converting one MAN B&W S90ME-C10.5 unit to a dual-fuel ME-GI unit capable of running on LNG.
SeaNews Turkey
