Tesla, Volvo Car Pause Output as Red Sea Shipping Crisis Deepens
Automakers Tesla and Geely-owned Volvo Car said they were suspending some production in Europe due to a shortage of components, the first clear sign that attacks on shipping in the Red Sea are hitting manufacturers in the region.The United States and Britain launched a series of strikes on Yemen on Thursday, aimed at the Iran-backed Houthi militia whose attacks on international shipping have disrupted one of the world's most important shipping routes.Container shipping rates jumped…
Shipping Firms Impose Surcharges as Red Sea Attacks Hit Global Trade
Maersk and CMA CGM, two of the world's largest shipping firms, will impose extra charges after deciding to re-route ships following attacks on vessels in the Red Sea, as worries about the disruption to global trade grow.The surcharges, designed to cover longer voyages around Africa compared with routes via the Suez Canal, will add to rising costs for sea transport since Yemen's Houthi militant group started targeting vessels.Maersk and CMA CGM are among leading shipping lines to have suspended the passage of vessels through the Red Sea that connects with the key Suez Canal…
APM Terminals, Volvo Ink Chennai Warehouse Deal
APM Terminals Inland Services, South Asia has signed an exclusive agreement with Gothenburg, Sweden-based Volvo Cars to provide a dedicated, specialized warehouse facility in Chennai. The customized warehouse will provide an integrated Inland Services solution for the Volvo Completely Built Up Units (CBUs) imported from Europe to India through the Port of Chennai. The 102,000 square foot facility will include bonded and non-bonded areas with an overall capacity of 500 vehicles. This specialized warehousing solution by APM Terminals Inland Services is a step towards expanding its portfolio of customized solutions for customers. “We are pleased to be the exclusive Indian partner for inland logistics and services solutions for Volvo Cars…
RoRo Shortage Hits Car Trade
While the Chinese automotive sector is experiencing double-digit growth, Chinese finished vehicle exporters are facing stiff competition and ongoing logistics challenges in getting their products to foreign markets because of a lack of RoRo ships, according to a report on http://www.cargonewsasia.com. Zhang Xiaoyu, vice-chairman of the China Machinery Industry Federation said that while the number of China's vehicle exports has increased sharply, many of these cars lay in transit at ports because shipping companies simply do not have enough vessels to transport them. According to China Custom's figures, the mainland exported a total of 340,000 cars in 2006 - double that exported in 2005.
