THE collapse of ocean freight rates from historic highs is feeding into the containership charter market, bringing fears of charter party defaults by highly exposed small and medium-sized carriers.

THE Shanghai International Port Group (SIPG) has announced it is to invest up to CNY51.3 billion US$7.3 billion) in constructing container terminal and supporting projects at Xiaoyangshan, reports UK's Seatrade Maritime News.

SEVEN more ships laden with agricultural produce left Ukrainian ports on Sunday, the country's infrastructure ministry said, bringing the total to 218 since a UN-brokered corridor through the Black Sea came into force at the start of August, reports Reuters.

HAWAIIAN Jones Act carrier Matson has closed its China-California Express (CCX) loop ahead of the peak season, after spot rates on the tradelane collapsed with the easing of the Covid crisis, reports London's Loadstar.

THE Port of Vancouver's cargo volume dropped 11 per cent in the first half of this year as grain shipments fell and supply chains sputtered, reported Toronto's Globe and Mail.

THE Port of New York and New Jersey (PANYNJ) displaced the Port of Los Angeles and the Port of Long Beach in August as America's the top container port by volume, reports Fort Lauderdale's Maritime Executive.