The captain and chief engineer of a cargo ship were tragically killed during a pirate raid on the vessel off the Nigerian coast, early last week.

According to the International Maritime Bureau (IMB) reporting centre, pirates, who are believed to be Nigerian pirates, indiscrimately sprayed the vessel with bullets and two members of the crew were fatally wounded as a result. This attack occurred despite the fact that pirate attacks on the Horn of Africa dropped from 45 in 2010 to 24 in 2011. However international cargo shippers are very concerned by the new levels of violence being employed by various pirate groups.

To…

Part of the 9/11 Act requires that 100% of cargo containers entering the US need to be scanned and screened. A GAO(Government Accountability Office) report stated the following “"uncertainty persists over how DHS and CBP will fulfil the mandate for 100 percent scanning given that the feasibility remains unproven in light of the challenges CBP has faced implementing a pilot program for 100 percent scanning.”

Initially the requirement for 100% screening was for 6 ports but the scope has been recently trimmed back to one individual port.

DHS (Department of Homeland Security) and CBP (US customs and border control)…

It is estimated that the Air France strike which occurred earlier this month could cost the airline up to €100m in lost revenue. On Friday, 9^th February, according to an Air France press release, 23% of long haul and 25% of medium haul flights had to be cancelled. Over the four day strike, 25% of Air Frances overall flights had to be cancelled.

Ironically the reason behind the strike is in response to a new law which obliges workers to give 48 hours notice of intention to commence a strike. Air France was forced to make 300 last minute flight cancellations since the start of the strike, but despite the unexpected disruption,…

Increases of between $300 to $800 per teu on the Asia-European sea freight route represent the largest increase since 2008. Spot rate increases, if successfully implemented on March 1st are set to increase from a current level of $700 per teu to around $1,000-$1,500 per teu. This dramatic increase of spot rates is in response to significant losses in 2011 due to overcapacity on the Asia-Europe freight lane.

Shippers are expected to enthusiastically resist these new rate increases as it greatly increases their cost base. Maersk is removing 9% of vessels from the Asia-Europe trade lane due to oversupply and has…

John Whelan, CEO of the Irish Exporters association, has warmly welcomed the visit of incoming Chinese president, Xi Jiping, to the island of Ireland. Whelan was very optimistic on a number of fr9onts in regards the visit as he sees huge potential in regards Chinese foreign direct investment in Ireland, increasing export trade into the EU through Chinese companies basing operations in Ireland, and the potential for a “Special Export Zone” to attract Chinese investment.

As well publicised, a number of important trade agreements were signed between Ireland and China over the past three days,…