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Vigor Finishes Maintenance Period on USNS John Lewis

May 28, 2024 at 12:45 pm | Uncategorized | No comment

Vigor has successfully completed the Post-Shakedown Availability (PSA) for the USNS John Lewis (T-AO 205) at Swan Island, marking a key milestone for the first-in-class Military Sealift Command vessel. This eight-month maintenance period involved system enhancements and post-delivery modifications aimed at optimizing the ship’s performance. Now that the PSA is complete, the John Lewis is […]

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CIOT and ATT Media Coverage – March 2024

May 27, 2024 at 10:46 am | Uncategorized | No comment

CIOT and ATT experts featured prominently in the media throughout March, providing insights on key tax issues. Kelly Sizer from the Low Incomes Tax Reform Group (LITRG) appeared on BBC Radio 4’s Money Box to discuss how frozen tax thresholds have increased pension taxation. Meanwhile, ATT technical officer Emma Rawson spoke on BBC Radio Essex, […]

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May 2024: China’s Labour Day Trade Disruptions

May 25, 2024 at 9:37 am | Uncategorized | No comment

Freight prices are greatly impacted by the General Rate Increase (GRI), a recurring change enforced by shipping lines, especially during periods of high demand. Due to a combination of increased demand, limited capacity, and disruptions brought on by China’s Labor Day, the GRI is anticipated to raise shipping rates in May 2024. Carriers use this […]

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Dow drops as Fed inflation concerns rise

May 25, 2024 at 6:10 am | Uncategorized | No comment

U.S. stocks closed lower on Wednesday as investors reacted to the Federal Reserve’s May meeting minutes, which signaled ongoing inflation concerns. The Dow Jones Industrial Average dropped 201.95 points (0.51%) to 39,671.04, marking its worst session in May. The S&P 500 fell 0.27% to 5,307.01, while the Nasdaq Composite slipped 0.18% to 16,801.54. The Fed […]

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Global Freight Market Trends: April 2024

May 25, 2024 at 5:39 am | Uncategorized | No comment

In April 2024, the air freight sector experienced a 12% decline in global tonnages, yet demand and rates from the Middle East and South Asia to Europe remained strong. European tonnages, however, saw an 11% week-over-week decline, indicating regional variances in demand and market conditions. The ocean freight sector is undergoing notable changes, as carriers […]

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Ocean Freight Market Update – 2024

May 18, 2024 at 11:42 am | Uncategorized | No comment

The ocean freight (OFR) market has shown consistent year-over-year (YoY) growth since October, reflecting a sustained increase in demand. This upward trend has contributed to heightened activity across key shipping lanes, indicating strong global trade momentum. A significant 9.6% annual fleet growth rate has been observed, driven by continuous vessel additions and capacity expansions. Since […]

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Global transportation growth driven by manufacturing expansion, demand.

February 27, 2024 at 9:03 am | Uncategorized | No comment

Global transportation and logistics output is expected to grow by 4.1% in 2025, with further growth of 3.7% projected for 2026. This growth is largely driven by increased business investments and manufacturing in key regions including the Americas, Asia Pacific, and Europe. Additionally, a rise in demand for trade-intensive consumer durables is anticipated, fueled by […]

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India aims for green shipbuilding hub.

April 24, 2023 at 4:25 am | Uncategorized | No comment

A Major Port is one which is under the administrative control of the Union Shipping Ministry while a Tug (also called Tugboat) is a vessel used to manoeuvre ships into port berths. India hopes to become the global hub of Green Ship Building by 2030 according to Shipping Minister Sarbananda Sonowal. Speaking at the launch […]

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Sri Lanka, India to begin passenger ferry service from April

April 24, 2023 at 4:24 am | Uncategorized | No comment

The much-delayed passenger ferry service between Sri Lanka and India is set to start by the end of April, Civil Aviation Minister Nimal Siripala de Silva said on Sunday. “On April 29, the ferry service between Karaikal and Kankesanthurai in port in Jaffna district would begin. Each passenger would be allowed a 100 kg baggage […]

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Sri Lanka to spend 132 mn $US on port development projects

April 24, 2023 at 4:21 am | Uncategorized | No comment

Sri Lankan Minister of Ports, Shipping and Aviation Nimal Siripala de Silva has said the government will spend around 132 million US dollars on port development projects. These investments would be made through revenue generated from port operations, the minister said on Saturday night, Xinhua News Agency reported. Speaking at an event in Colombo, the […]

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