Drewry Maritime Research, the global leader in freight rate benchmarking, has expanded its flagship Container Freight Rate Insight publication and now provides freight rate benchmarks on 550 international trade routes. Published monthly, the report provides all-in spot rates on all the key shipping routes of the world, including both headhaul and backhaul trades. In addition to the monthly report, subscribers also have access to an online database of both current and historical freight rate data dating back to January 2006. Drewry collects its proprietary freight rate data from active freight forwarders in the Far East, South Asia, the Middle East, Europe, the United States, Canada and South America, who provide their freight rates confidentially to Drewry. “In times of heightened freight rate volatility shippers need a dependable source of market data in order to effectively benchmark their shipping costs,” said Drewry’s Container Freight Rate Insight editor Martin Dixon. “Over the past six months we have doubled the number of trade routes on which we provide benchmarks and increased the frequency of reporting on many routes in response to rising customer demand.” Shipping costs have proven particularly volatile in recent years. For instance, Drewry’s East-West Freight Rate index, a weighted average across key Asia-Europe, transpacific and transatlantic trade routes
Major boost for swaps liquidity as WCI backhaul routes are listed for clearing. Introduction of clearing for new Europe-Asia routes will bring significant additional trading potential to container derivatives market. The World Container Index is pleased to announce that two WCI route assessments, covering Los Angeles to Shanghai and Rotterdam to Shanghai will now be cleared by LCH.Clearnet. The addition of clearing
Due to overcapacity & economic turmoil in the market, the market index for 40ft containers has taken a massive dip, 44% from May 2012. Xeneta, the price comparison service for sea freight, found that the average container freight rates from Asia to North-Europe continues to drop to $2,564 per 40-foot container and $1,341 per 20-foot. Due to overcapacity and various economic turmoil in the market, the market index for 40-foot has taken a massive dip with it being down 44 percent from May
Revenue for the period increased by 10% to USD 14.5bn (USD 13.2bn), primarily due to higher container freight rates, container volumes and oil prices. The profit for the period increased by 82% to USD 1.2bn (USD 0.6bn) and was driven by better operational performance in most business units. The Group’s ROIC increased to 11.7% (7.6%). "We have had a good start to the year and are very satisfied with the results
Neptune Orient Lines (NOL) reported a net profit for the first quarter of 2007 of $43m, down 64% year-on-year. The Group’s Core EBIT (Earnings Before Gross Interest Expense, Tax and Non-Recurring Items) was $58 million, 59% lower than Core EBIT for the same period of 2006. The Liner business achieved Core EBIT of $41 million, down 67%. APL Logistics reported Core EBIT of $12 million, down 25%. 1Q2007 revenues rose year-on-year by 1% to $1.9 billion.
Horizon Lines (NYSE:HRZ) announced it has instituted a 15-day transit schedule for containerized cargo shipped from Shanghai to Kansas City with its new International service. The company launched the Five-Star Express (FSX) trans-Pacific ocean service between China and the United States in December, and selected Kansas City as a key hub for its express ocean-rail intermodal package. "Our goal is to offer the fastest weekly deliveries by using scheduled intermodal rail service
Softlink’s Cloud ERP platform Logi-Sys for freight industry now includes WIN connectivity, enabling users to communicate with other WIN-connected forwarders. Amit Maheshwari, CEO-Softlink, said, “WIN’s unique value proposition is connecting forwarding agents to their agent partners who use completely different systems. By adding WIN interface to Logi-Sys, our customers can share information electronically with their key overseas partners
Freight rates have come under pressure in recent months with the entry of new players into the North Atlantic market. Moreover, costs, particularly for charters, bunkering and additional security measures, have risen. Hapag-Lloyd has thus decided to raise freight rates for the North Atlantic and for the US Gulf and the US West Coast with effect from February 1st 2007. The increase amounts to $200 for a 20-ft. container and $250 for a 40' container.
'Intermodal Container Leasing in the US Industry' market research report published by IBISWorld Excerpts from the report are as follows: The Intermodal Container Leasing industry is heavily dependent on large-scale domestic and international trade levels. Thus, as consumer spending fell during the recession and demand for goods across the economy dipped, fewer containers were needed for the transport of products. However, China's resilience and strong growth throughout the past five years
The California state legislature is considering a new tax on shipping containers that would cost an estimated $34m a year to Hawaii shippers, The Pacific Business Journal reported. More than 80 percent of goods consumed in Hawaii are produced elsewhere and shipped to the islands, and 90 percent of those are shipped through the California ports of Oakland and Long Beach on the ships of Matson Navigation Co., Horizon Lines and Pasha Hawaii Transport.
Liverpool-based maritime advisory firm and consultancy Focus Maritime (North West) Limited has been appointed to promote Canada's Halifax Port Authority across Europe. The move by the Nova Scotia-based authority is aimed at strengthening its presence across the continent and sees
Ocean carriers were unable to increase freight rates between the Mediterranean and North America from November to January due to continuing poor vessel utilisation and the approaching threat of P3, according to the latest edition of Drewry's Container Insight Weekly. Westbound
March 6 marks the start of a new service from Los Angeles gateway. CaroTrans, a global NVOCC (non-vessel operating common carrier) and ocean freight consolidator, has announced a new weekly, direct, all-water LCL (less than container load) service from the U.S
Welcoming the proposal, the Coalition for America’s Gateways and Trade Corridors (CAGTC) says it applauds the Administration’s vision for improving the multimodal freight network to support American businesses and national competitiveness in the world marketplace.
Reuters - Yangzijiang Shipbuilding Holdings Ltd, a top Chinese shipbuilder, plans to build more mega container ships for shipowners eager to cut operating costs. Yangzijiang is China's third-largest listed shipbuilder by market capitalisation and has boasted profit margins that dwarf those of
Q4 net profit falls to $936 mln vs $808 mln forecast; Company will issue bonus shares. Danish shipping and oil group A.P. Moller-Maersk said 2013 net profit fell less than expected thanks to higher earnings at container shipping business Maersk Line
Sentina Corp, a New York-based producer of protective cargo coverings, says it has been awarded the designation of 'Qualified Anti-Terrorism Technology' under the Department of Homeland Security's Safety Act for its Freight Glove, a reusable, vacuum-sealable, and tamper-evident covering.
As expected, 2013 did not bring significant changes to the evolution of the world economy and consequently the rate of growth of world trade. With regard to the maritime freight market, the same situation of imbalance between supply and demand continued with a consequent reflection in value of
The A.P. Moller – Maersk Group has received a permanent license to operate container business activities in Myanmar. The business will encompass the three brands Maersk Line, MCC Transport and Safmarine and the agency in Yangon will be officially opened in May 2014.
Group narrows net loss; lifted by $470 million (USD) cost savings and building sale. NOL Group today reported a 2013 net loss of $76 million, improving 82 percent from a $412 million loss the previous year. The group’s full year financial results were helped by a non-recurring $200
CTUpack e-learningTM course launched to combat bad practice in warehouses and other packing facilities. Analysis by specialist transport and logistics insurer TT Club has revealed that as many as two thirds of accidents that involve the loss of, or damage to
CargoSphere, cloud-based global rate management solution and confidential Rate Mesh network for the ocean and air transportation and logistics industries, has announced the completion of Blu Logistics’ integration with CargoSphere’s freight rate management solution
DSV has launched an intermodal service between Turkey and the U.K. to add to its portfolio of road, air and short-sea services between the two countries. “We have seen an increasing interest in intermodal services as shippers seek more cost effective ways of sending their goods
China COSCO Holdings Co. Ltd, the country's largest shipper, indicates a profit turnaround in 2013 after suffering heavy losses for two consecutive years, reports Xinhau. According to COSCO's earlier, 2013, financial report, the Shanghai-listed company made cutting operational costs a major
Consultancy and sales company in the transport and logistics industry, CarrierDirect, released its semiannual freight market perspective this month, giving guidance on what to expect for 2014 and how company leadership should be shaping their strategies to compete in the everchanging marketplace