Credit: xy/Adobe Stock; Big Changes, Challenges Will Affect Maritime Supply Chain
EEXI standards will slow voyages because slower speeds reduce emissions. This will result in supply-chain delays and longer lead times for the manufacture of goods comprised of parts from around the globe.
May 08, 2023 at 12:07 PM
6 minute read
Cargo and Shipping
As expected, with rising interest rates dampening demand, container freight rates (the cost of transporting one 40-foot equivalent container) have declined significantly from peak rates in September 2021 (which were approximately 730% higher than 2019 freight rates), though they are still about twenty percent higher than pre-pandemic levels. See Drewry, World Container Index – 06 Apr, Drewry – Service Expertise – World Container Index – 06 Apr. Similarly, charter hire rates for container ships have also stabilized much lower than peak rates in March 2022, but still at levels much higher than before the pandemic. As demand has declined, port congestion in the United States also has eased.
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Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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