WiseTech Global's new CargoWise pricing model raises concerns among forwarders, reflecting its strong market presence, reports S&P Global.

WiseTech Global has introduced a new pricing model for its CargoWise logistics software, prompting criticism from forwarders who say the change will raise their costs by 20 to 50 per cent, reported New York's Journal of Commerce.

VLCC tankers are now demonstrating a contango market, especially after the recent rise of newbuilding prices, compared to their five-year old peers. This according to Mcquilling Services which stated in a report Friday, that the market for VLCCs could very well be in a contango, i.e. future prices are expected to be higher than current valuations. According to Mcquilling,

AN internet-based marketplace enabling ocean freight buyers and sellers to agree on binding forward commitments would make the existing spot market more efficient, according to maritime research consultancy Drewry