Shipping containers get foldable design as logjam cure

WASHINGTON (BLOOMBERG) - Few tools of the global economy have survived without major innovations as long as the shipping container. The supply ructions around the world are presenting an opportunity to test that incumbency. As ports, rail yards and warehouses get clogged up with the standardised metal boxes both empty and full of goods, the stars are aligning for a product that was a hard sell before the pandemic: shipping containers that fold up accordion- or collapsible-style to as much as one-fifth their usual size. At least, that's what their backers are hoping. Almost 27 per cent of the 862 million crates measured in 20-foot equivalent units that pass through the world's ports this year will be empty, according to Drewry estimates. The cost to the shipping industry to get them to places where they will be loaded is about US$20 billion (S$27 billion), Boston Consulting Group has calculated. Many will spend days or weeks taking up space in already-jammed holding areas and depots, compounding delays along supply chains. All this has executives everywhere from Amazon.com to pop culture-inspired bobblehead maker Funko and milk-alternative producer Oatly grappling with how to get th...

Shipping containers toppling overboard at alarming rate with pressure to speed up deliveries

SINGAPORE (BLOOMBERG) - Containers piled high on giant vessels carrying everything from car tyres to smartphones are toppling over at an alarming rate, sending millions of dollars of cargo sinking to the bottom of the ocean as pressure to speed up deliveries raises the risk of safety errors. The shipping industry is seeing the biggest spike in lost containers in seven years. More than 3,000 boxes dropped into the sea last year, and more than 1,000 have fallen overboard so far in 2021. The accidents are disrupting supply chains for hundreds of US retailers and manufacturers such as Amazon and Tesla. There are a host of reasons for the sudden rise in accidents. Weather is getting more unpredictable, while ships are growing bigger, allowing for containers to be stacked higher than ever before. But greatly exacerbating the situation is a surge in e-commerce after consumer demand exploded during the pandemic, increasing the urgency for shipping lines to deliver products as quickly as possible. "The increased movement of containers means that these very large containerships are much closer to full capacity than in the past," said Clive Reed, founder of Reed Marine Maritime Casualty Manag...

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NutryFarm Enters into Two New Purchase Contracts for a Total Volume of 570 Containers of Fresh Durians from Thailand

SINGAPORE, Mar 18, 2021 - (ACN Newswire via SEAPRWire.com) - NutryFarm International Limited ("NutryFarm" or the "Company", and together with its subsidiaries, the "Group"), is pleased to announce that the Company's wholly owned subsidiary, Global Agricapital Holdings Pte. Ltd. ("GAH"), has entered into two binding purchase agreements with Royal Farm Group Co., Ltd ("RFG") and Thung Thang Thong Co., Ltd. ("TTT").Under the agreements, GAH has entrusted RFG and TTT to purchase an estimated volume of 270 and 300 containers of fresh durians in Thailand respectively.The price will be based on market price which is acceptable to GAH and the orders will be placed by GAH in batches. GAH shall made a pre-payment of not more than 30% of the order amount upon confirmation of each batch order with the remainder to be paid within thirty days after delivery.It is also agreed that RFG and TTT shall guarantee the quantity of goods shipped from Thailand and exercise strict quality control based on the requirement of the logistics partner as well as during transportation and warehousing.Led by the Group's CEO, Mr. Cheng Meng, an industry veteran in the durian industry, the Group has entered into var...