PEAK SEASON SURCHARGE
Spike in maritime shipping rates is no pandemic flashback
This round of supply-chain difficulties originates with the threat from Yemen’s Houthis, which is keeping container ships from using their normal route from Asia to Europe through the Suez Canal.
"It's all happening again": The supply chain is under strain
The intensifying upheaval in shipping is prompting carriers to lift rates while raising the specter of waterborne gridlock that could again threaten retailers with product shortages during the make-or-break holiday shopping season. The disruption could also exacerbate inflation, a source of economic anxiety animating the U.S. presidential election.
As unrelenting heat wave makes power demand spike, utilities told to be on high alert
The ministry's statement highlighted that the northern region has faced high electricity demand since May 17, 2024, due to the heatwave. Despite these tough conditions, the highest-ever peak demand of 89 GW in the northern region was successfully met on June 17, 2024.
As tensions mount in Red Sea, freight charges, insurance premiums may surge further
Heightened tensions between Iran and Israel are expected to increase freight charges and insurance premiums for shipping vessels on global routes. Ships bound for western European countries and the US are particularly at risk. Freight rates have already risen by about $100 per container for ships going through the Red Sea due to disruptions and capacity constraints. War risk insurance premiums, which were previously around 0.05% of the insured value of the vessel, have now increased to between 0.75% and 1%.
Income tax savings season is here. What should debt mutual fund investors do?
INVITs invest in infra projects pertaining to roads, power plants, highways, warehouses, etc. The ticket size for investment in INVITs is that value of each allotment lot shall not be less than Rs1 lakh with each lot consisting of 100 units.
More passengers, fuel surcharge lift IndiGo net by over 100%
The airline, which commands more than 60% share of India's domestic market, posted a profit of ₹2,998 crore in the three months ended December 31, compared to ₹1,422 crore a year earlier. Revenue climbed 30% to ₹19,452 crore.
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ET exclusive: Shipping giant Maersk decides to resume Red Sea voyages
“As of Sunday 24 December 2023, we have received confirmation that the previously announced multi-national security initiative Operation Prosperity Guardian (OPG) has now been set up and deployed to allow maritime commerce to pass through the Red Sea / Gulf of Aden and once again return to using the Suez Canal as a gateway between Asia and Europe, the shipper said in an advisory to its customers.
Panama Canal drought is a headache for global trade at Christmas
After the drought made the canal shallower, ships now have to lighten their loads. The result is fewer containers making the crossing per day, heightening the chance that many goods won’t make it to their destinations in time for Christmas.
Panama Canal jam sends ships sailing continents out of way
Shipping companies are trying to pass along the extra costs to their customers. Hapag-Lloyd AG, Mediterranean Shipping Co. and Maersk all have announced new Panama-related surcharges in recent months.
Shipping shifts from jackpot to job cuts after $364 billion boom
Over the past 10 days, Maersk, Hapag-Lloyd and closely held CMA CGM SA of France — all top-five players that together control about one-third of the world’s container capacity — said they’re cutting costs.
IndiGo CEO opens up about aircraft grounding challenges: Steps in place
“We have recently concluded induction of another 11 planes which are coming in one by one. Going forward, we continue on that track. Only in the month of December, we get three more ATR aircraft coming in, so that is helpful. We got new airbuses coming in and we are evaluating a further increase of leased aircraft going forward.”
Why Panama Canal is the new challenge for supply chains
Just as the world’s delivery bottlenecks are easing, Panama’s drought and worrisome weather patterns elsewhere threaten to revive some of the chaos of 2021, when a surge in shipping costs and consumer demand resulted in shortages of goods, helping to drive US inflation to a four-decade high.
Freight costs fueled inflation. Can they dampen it now?
On the demand side, monthly imports peaked at a record $351 billion in March and slid to $330 billion in July.
FedEx warns of worsening economy and pulls forecast; shares drop 16%
The World Bank earlier on Thursday said the world's three largest economies - the United States, China, and the euro area - have been slowing sharply, and even a "moderate hit to the global economy over the next year could tip it into recession."
Want to travel smart & cheap? Here are some thrifty strategies to save money as prices soar
Warm-weather destinations often reduce their rates in summer, including Miami, where hotels may be slashed up to half-off June through August.
Parliamentary panel for innovative tools like green banks, renewable finance obligation to boost clean energy
Keeping in view that the overall debt requirement is large and reducing the cost of financing to the renewable energy developers is important, it also suggested that the Ministry of New and Renewable Energy (MNRE) may explore the possibility of prescribing Renewable Finance Obligation on the lines of Renewable Purchase Obligation (RPO) for banks and financial institutions.
Vanishing ships underscore supply woe: crisis peak is a mirage
As the year supply chains went haywire winds down, logistics experts are struggling to distinguish between the rays of real improvement and the false dawns.
The world is still short of everything. Get used to it
The Great Supply Chain Disruption is a central element of the extraordinary uncertainty that continues to frame economic prospects worldwide.
Container shipping earnings now rival Apple. It’s not a good look
The container lines for years made meager returns after splurging on big ships which led to overcapacity.
Trade hit as freight costs from China rises
Shipping companies have jacked up rates over the last year by adding peak season surcharge and other increases, which vary with shipping lines and container sizes.
This shipping dashboard shows why you should Christmas shop early
Dozens of ships are queued up around Yantian and, by one estimate, more than 400,000 20-foot containers were brought to a standstill.
Second COVID-19 wave not to impact India's agri sector in any way: Niti Aayog
"COVID-19 cases started spreading in the rural areas in the month of May, with the beginning of the month of May, and agriculture activity in the month of May is bare minimal, particularly land-based activities," Niti Aayog Member (Agriculture) Ramesh Chand added.
Higher shipping costs are here to stay, sparking price increases
The higher shipping costs have been sparked by a combination of factors, including soaring demand amid stimulus checks, saturated ports, and too few ships, dockworkers and truckers.
Rs 55,000 cr wealth manager says large part of D-Street correction behind us
BSE Sensex has come off 8 per cent from its all-time high level, hit early June, 2019.
Emirates' 'peak surcharge' to hit flyers going abroad
Unlike the fuel surcharge levied on all flights, peak surcharge is charged only on flights departing on days when the demand for travel is high.
Domestic air tickets to cost more; Air India and Jet Airways hikes fuel surcharge
Domestic air travel is going to be costlier again with both state-run Air India and private carrier Jet Airways hiking fuel surcharge on flight tickets by up to Rs 150.
Flying to foreign destinations to get more costly on increase in fuel surcharge
AI has increased the fuel surcharge of flights to North America and Europe by Rs 1,100 for a one-way ticket and Rs 2,200 for a return ticket.
Defence Minister A K Antony on his two-day visit to surcharged Kashmir
As Defenc Minister A K Antony started his two-day visit to J&K, his first in last 18 months, Kashmir is making desperate attempts to prevent the repetition of 2010.
Air fuel hike in holiday season makes flyers shell out more
Following the latest hike in ATF prices, national carrier Air India has increased fuel surcharge by Rs 200 on short haul domestic routes (below 1,400km) and by Rs 300 on longer flights within the country.
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