As liner operators become desperate for ships, charter rates have hit the $150,000/day mark. Maersk Line has agreed to pay this to charter Taiwanese regional carrier TS Lines' 7,000 teu building in Kota Valparaiso for three months. Just two weeks ago, CMA CGM chartered its sister vessel, Kota Callao, for $100,000/day, a record. After being employed by CMA CGM and Maersk, they will begin a long-term charter with Pacific International Lines. Last month, CMA CGM took another of TS Lines' 7,000 teu ships, T.S. Dubai, for $80,000/day for three to four months.

ORBCOMM, a global leader in maritime logistics, unveiled its next-generation CT 3600 reefer container monitoring device on June 26, 2024. The CT 3600 is engineered to streamline reefer container monitoring installation, deployment, and management for shipping lines and container leasing companies, minimising downtime and boosting efficiency.

The heavy rains caused by Tropical Storm Alberto have resulted in damage amounting to up to 3 million dollars in banana, corn, sorghum, soybean, and plantain plantations, which are currently flooded. Producers informed that their main concern at this moment is for the authorities to declare a state of emergency or disaster so that insurance coverage can be activated, as the penalty with the United States is set at $500,000 per week.

In the second such announcement within a month, the Panama Canal revealed further easing of draught and transit limits for the critical trade corridor. Through an Advisory to Shipping, the Panama Canal has announced that, effective June 26, the maximum authorised draught was raised to 14.33 metres (from 46 to 47 feet) and will increase to 14.63 metres (48 feet) on July 11. Additionally, a new booking slot for the Neopanamax locks will be added beginning on August 5, bringing the total number of transits to 35 daily ships.

The warehouse has been built to BREEAM Excellent standards with zero direct emissions from operations, complying with high environmental standards. The groundbreaking ceremony for this low-emission warehouse was held about two years ago near Taulov Dry Port in Fredericia, Denmark, and the warehouse was inaugurated on June 24. With this facility, Maersk pioneers and has set the benchmark for developing low-emission warehouses and logistics facilities, reaching its vision to achieve net-zero CO2 emissions by 2040.

Víctor Villalobos, Minister of Agriculture, in collaboration with the Michoacan government, initiated a strategic project to enhance the productivity of the banana production chain. This initiative aims to boost the economy and improve the well-being of rural families in the state. For the second consecutive year, Villalobos inaugurated the Banana Flour Processing and Dehydrating Plant in Coahuayana as part of the Fertilizers for Well-Being program, which benefits the region's small—and medium-scale producers.

The Ecuadorian banana is entering South Korea with force. From January to May, it almost tripled its shipments, an unprecedented growth of 276%. The Asian country went from buying 532,000 boxes of fruit in the first five months of 2023 to just over 2 million boxes in the same period this year, according to the latest figures from the Association of Marketing and Export of Bananas of Ecuador (Acorbanec).

Fairtrade International proudly presented its 2023 annual report, 'Driving the Fairne's Agenda', at the general assembly on June 19. The report is an organization's significant strides in addressing critical issues such as deforestation, human rights, and a living income, underscoring our commitment to the positive partnership report underscores the Fairtrade system's and its partners' accomplishments over the past year, including programs and initiatives that have expanded benefits for more than 2 million farmers and workers across 68 countries.

This year, nine technicians and two engineers will traverse approximately 11,000 hectares of banana and plantain crops. This exercise will include collecting 1,000 samples that will be analyzed in different laboratories in the country. The ICA and Asbama have signed a new technical cooperation agreement to contain and exclude the Tropical Race 4 Fusarium -TR4- on the farms of 305 banana and plantain producers in the departments of Magdalena, Cesar, and La Guajira.

During week 25, the demand for bananas in St. Petersburg showed improvement compared to the previous week. On Monday and Tuesday, banana selling prices hovered around USD 23.05-24.25 per box CIF. Later in the week (from Wednesday), prices increased slightly to USD 24.25-25.45 per box CIF. These prices varied based on brand, quality, volume, and packaging. Approximately 1.540 million boxes were discharged during week 25, and around 1.320 million boxes are expected for week 26. The exchange rate was 1 USD=87 RUB. Ecuadorian bananas in the Mediterranean were priced at USD 17.00-19.00 per box CIF with prices around USD 21.0 per box CIF in Libya. The price varied based on brand, volume, region, and quality. Central American bananas were cheaper, selling around USD 2.00 less per box. In the Mersin Free Zone, the price range for re-exported Ecuadorian bananas was USD 17.0-18.0 per box. However, for extra quality fruit and heavier boxes, prices could go up to USD 20.0-21.0 per box. Bananas from Central America were sold at USD 15.0-16.0 per box.

The bacterium Ralstonia solanacearum Race 2, known as "moko", affects bananas, plantains, and other musaceae. The Agency for Phytosanitary Regulation and Control (Agrocalidad) is intensifying controls to detect this pest in Musaceae, using various strategies, including training, sampling, and drone overflights. The pest spreads through soil, water, and contaminated plant material or by handling tools or machinery that has yet to be previously disinfected.

A satellite image provided by the National Oceanic and Atmospheric Administration shows Hurricane Idalia, centre, over Florida and crossing into Georgia, and Hurricane Franklin, right, as it moves off the East coast of the U.S., on August 30, 2023. Federal forecasters say the climate p that which brought warmer-than-normal ocean temperatures to the Eastern Pacific — and helped drive global temperatures to new heights — since June 2023 is officially over. As expected, the National Weather Service's Climate Prediction Center declared that neutral conditions returned during the past month.

American sportswear corporation Nike will christen A.P. Moller–Maersk's new methanol-enabled containership at the Port of Los Angeles Outer Harbor on August 27, 2024. This cutting-edge vessel, powered by green fuel for its maiden voyage, can carry over 16,000 containers (TEUs). It will receive its new name during a private ceremony. Maersk's innovative containerships stand out from traditional designs. Notably, they position crew accommodation and the bridge at the bow, with a single funnel at the stern.

Ocean freight container shipping spot rates are predicted to rise further, although the growth rate may decelerate, per the ocean freight rate benchmarking firm Xeneta. Xeneta's data suggests that the average spot rates from the Far East to the U.S. West Coast are projected to increase by 4.8%, reaching USD 6,178 per 40ft equivalent unit (FEU). This contrasts with a 20% increase on the same trade route earlier in the month.

The Panama Canal has successfully averted a shipping crisis that threatened to disrupt $270 billion worth of annual trade. This was achieved through meticulous water management and a touch of good fortune. Last year, as drought conditions prevailed in the Central American nation, the Panama Canal Authority was compelled to reduce the daily number of vessels permitted to cross the canal to 22, approximately 60% of the usual traffic. This led to shippers paying hefty sums to bypass the growing queue and evade wait times beyond two weeks.