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
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.6 percent to $1.149 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. It was the second consecutive week of falling freight rates on the world's busiest route. Container freight rates have in 2014 increased in 13 weeks but fallen in 38 weeks. In the week to Friday, container freight rates fell 6
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
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 20.5 percent to $934 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the largest ever weekly decline on the world's busiest freight route since the index began recording rates in 2009. A level below $1,000 is widely seen as a loss-making level for container shipping companies.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 22.8 percent to $400 per 20-foot container (TEU) in the week ended last Friday, data from the Shanghai Containerized Freight Index showed. Freight rates on the world's busiest shipping route have tanked this year due to overcapacity in available vessels and sluggish demand for transported goods. Rates generally deemed profitable for shipping companies on the route are at about $800-$1
Shipping consultancy Drewry and shipment management software solutions provider CargoSmart have expanded their cooperation agreement to cover a broader exchange of market intelligence data on the container shipping market. The two companies first announced their cooperation agreement in April 2012, when Drewry began using data from CargoSmart to augment its coverage of ocean carrier service reliability on key container shipping trades.
CaroTrans, a leading global NVOCC (non-vessel operating common carrier) and ocean freight consolidator, today announces their U.S. West Coast port readiness program to address potential supply chain disruptions. Congestion and current labor issues are impacting the flow of cargo at U.S. West Coast ports and there is the likelihood of further instability. To address this infrastructure challenge, CaroTrans has developed alternative routing solutions to lessen the impact on supply
CaroTrans has announced the addition of an expedited Le Havre, France to Charleston LCL import service. This is the only direct, weekly Le Havre to Charleston LCL service available in the market. It is a 12 day transit to Charleston and a maximum of 3 additional days to destinations in the U.S. South Atlantic region. The Le Havre departure point eliminates the congestion, delays and additional handling associated with routing via Antwerp.
India Ratings and Research (Ind-Ra) has maintained a negative-to-stable outlook for the shipping sector for the current financial year. The agency expects the performance of dry bulk and container operators to continue to be affected by weak global trade growth and persistent overcapacity, while the offshore segment will face the negative impact of lower crude oil prices. The agency, however, believes that the tanker segment
The port of Antwerp handled 104,529,242 tonnes of freight in the first six months of this year, up 6.4% on the same period last year. The strong performance during the half year was mainly due to the impressive growth in container freight (up 9.5% in TEU and 7
Container equipment rental rates came under renewed pressure in 2014 and by mid-2015 new dry freight pricing was at a 10-year low, while lease rates had fallen to an all-time low, according to the latest edition of the Container Leasing report published by global shipping consultancy Drewry
Two Chinese shipping giants are likely to sign agreements with Cambodia's Sihanoukville Autonomous Port (SAP), paving the way for exporters to move cargo directly from Cambodia to China, Xinhua reported. Both Cosco and China Shipping are expected to sign with Sihanoukville Autonomous
As the shipping operator BG Freight Line is set for a new freight service connecting the links, Scotland’s food and drink, chemical and manufacturing industries are looking for a boost. BG Freight Line, wholly-owned by Clydeport owner Peel Ports
Freight rates for the shipping of containers from Asia to Northern Europe fell by 1.7 percent to a record low $343 per 20-foot container (TEU) in the week ended Thursday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.
Freight rates for the shipping of containers from Asia to Northern Europe jumped by 151 percent per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
Hapag-Lloyd generated a profit in the first three months of this year, and concluded the first quarter with a profit of EUR 128.2 million (prior year period: EUR -119.1 million). EBITDA reached EUR 283.6 million (prior year period: EUR 2.9 million) and the underlying EBIT was EUR 160
Canada to Northern Europe connection sails May 22 Global non-vessel operating common carrier (NVOCC) and ocean freight consolidator CaroTrans today announced a new weekly less than container load (LCL) service from Montreal to Le Havre, France. This direct service has a 14 day transit.
German container line Hapag-Lloyd has defied the challenging market environment in the containership market and returned to profit in the first quarter of 2015 euros as a stronger dollar and lower bunker prices helped to offset weaker freight rates.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 23.6 percent to $658 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. The drop in freight rates on the world's busiest shipping
Shipping company Maersk Line, owned by A.P. Moller-Maersk, plans to increase freight rates for transporting containers from Asia to Northern Europe by $800 per 20-foot equivalent unit (TEU) from June 1, it said on Tuesday. With a fleet of more than 600 vessels
Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility in the market as vessel operators continue to wrestle with overcapacity. Rates for transporting containers from Asia to Northern Europe
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 23 percent to $342 per 20-foot container (TEU) in the week ended on Friday, a source with access to Shanghai Containerized Freight Index data told Reuters.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
Maersk Line, the world's largest container shipping company, told its clients on Tuesday it would raise the freight rate from Far East Asia to Europe by $1,000 per 20-foot container (TEU) as of Aug 1. The company declined to say what the current rate was or what the new rate would be as numbers