Page 6 - Al-Rashed Newsletter May 2021

SHIPPING WORLD
SHIPPING NEWS

Shipping-Container Rates Top $10,000 From Asia to Europe
The cost to move goods in a shipping container to Europe from Asia shot
showed,
underscoring the pain inflicted on exporters and importers struggling with
stretched supply chains.
rate
for a 40-foot container from Shanghai to Rotterdam rose to $10,174, up
3.1% from a week ago and a 485% jump from a year ago. The composite
and
was 293% higher than a year ago, Drewry said. Both were the highest in
records going back to 2011.

‘X-Press Pearl’ Fire Explodes in Intensity, Ship Evacuated

a fire which
has burned on board the ship since last week exploded in intensity.
Photos released by the Sri Lanka Ports Authority and Air Force show the
ship’s cargo engulfed in flames.
reported was
anchorage
approximately 9.5 nautical miles from the entrance to the port.

chain
issue
wooden
platform's products are stacked on for shipping.
pallets;
things spanning from electronics to food.
The pallet, surprisingly, is the secret lifeblood of logistics and distribution.
Any industry that ships a product, a component, raw material, they need
pallets. And so this could touch a lot of different industries. That includes
the giant big box and grocery stores all the way down to businesses like
mom and pop hardware stores.
and
attempts to replace it have mostly proven unsuccessful.
a
DID YOU KNOW?
forklift to slide right into the wooden frame and lift it.
The world's quietest room is located But now, with a shortage of lumber, the lowly and once cheap pallet has
at Microsoft's headquarters in
Washington state. become expensive and hard to find.
All giant pandas in zoos around the
world are on loan from China.
Canada has 9% of the world's
forests.

Source: gcaptain.com, Bloomberg