Container Shipping Line
Container shipping lines have agreed to raise Asia-U.S. freight rates by $300 per 40-foot container (FEU) to west coast ports of the U.S. and by $400 to all other ports in the U.S from May 15. The increase was agreed by companies in the Transpacific Stabilization Agreement (TSA) which also adopted a $400 per FEU peak season surcharge effective June 15, the TSA said in a statement. The TSA groups 15 of the world's biggest container shipping lines, including Denmark's Maersk Line, a unit of A.P. Moller-Maersk, privately owned Swiss-based Mediterranean Shipping Company (MSC), French privately held CMA CGM, China's COSCO and South Korea's Hanjin Shipping . The container shipping industry was hit hard by the global economic downturn since 2008 and only a few lines made a profit in 2013 due to supply outstripping demand. Spot freight rates are calculated and published every week by Shanghai Shipping Exchange and the surcharges added to that. Last week rates for transport from Asia to the U.S. West Coast stood at $3,844 per 40-foot container and $6,656 to ports on the east coast. "Carriers continue to play catch-up on rates, which have been effectively stagnant since 2011," TSA Executive Administrator Brian Conrad said. Transpacific container lines are experiencing a surge in eastbound bookings that began in January and is expected to continue into the second half of 2014
Container shipping line members of the Grand Alliance reportedly will improve their service between North Asia and the U.S.
Starting next year, the price to ship a container across the Atlantic ocean is to soar, as container shipping lines on the Atlantic will be seeking hefty rate increases s next year. Rates for 20 foot containers heading westbound to U.S. Atlantic, Gulf and Pacific ports would rise by $600 from January 1, 2000, carriers in the Trans-Atlantic Conference Agreement (TACA) said. For 40 and 45 ft units the increase would be $750, they said
Container shipping lines operating on the Atlantic will reportedly start imposing surcharges to reflect rising bunker fuel costs. A bunker adjustment factor of $21 per 20 ft container and $42 per 40/45 ft container for traffic to and from U.S. Atlantic/Gulf coast ports will be added from October 13, the Trans-Atlantic Conference Agreement (TACA) said. Meanwhile, container shipping lines in the North Europe - Asia eastbound management agreement (EMA) will raise freight rates beginning Oct
A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned increase was part of an ongoing effort by members to reverse a decline in spot rates in the Asia-U.S. freight market.
A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned increase was part of an ongoing effort by members to reverse a decline in spot rates in the Asia-U.S. freight market. The organisation also said container shipping companies should reinstate a $400 per
A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Feb. 9, and indicated that it will follow with a second $600 per FEU increase on March 9. TSA (Transpacific Stabilization Agreement) said the planned increase follows strong cargo demand through the typically slower winter season and heading into the Lunar Yew Year holidays.
Maersk Line, the world's largest container shipping line, resumed operations at the Port of Boston’s Conley Container Terminal with the arrival of the Sealand Illinois on Thursday, the Massachusetts Port Authority (Massport) announced. Maersk, which last operated out of Boston in 2000, is the seventh major global container line currently servicing the city's port.
Singapore's Neptune Orient Lines Ltd (NOL) swung to a tiny net profit in its second quarter after six straight quarters of losses but said it had seen severe freight rate erosion. "The group's container shipping business continued to face a challenging environment characterised by over-capacity and weak market demand," NOL Group CEO Ng Yat Chung said in a statement on Thursday. (http://bit.ly/1MVRJnG) The container shipping line
China's National Development and Reform Commission (NDRC) is visiting several major container shipping lines’ offices in Shanghai and throughout the country as part of its surcharges investigation. According to local media reports, NDRC investigators have been combing through emails and files at many liner carrier offices since Friday. In September 2015, the Chinese government said that lines had been charging too much for things like bills of lading custody
The largest global container firm Maersk Line has launched a new weekly service between Santa Marta and Turbo in Colombia and Northern Europe specifically designed for refrigerated cargo. Danish container shipping giant added this new service from Latin America to Europe and a new
Taicang Container Lines Co. Ltd has rolled out the first direct container shipping line linking China's Yangtze River basin and Southeast Asia, reports Xinhua. The container ship departs once a week from and arrives at Taicang Port in east China's Jiangsu Province
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 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.
The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ. The merger will free the two Chinese shipping groups from competing
Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 115 percent to $1,232 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. Average rates for 2015 were $620
With MSC Mediterranean Shipping Company has resumed vessel operations to Iran, after services were suspended in 2012 in response to trade sanctions, Some of the world’s largest container shipping lines are pursuing business in Iran, reports WSJ.
Adani Group turns its flagship port and India’s biggest commercial port at Mundra in Gujarat into a regional transhipment hub by partnering with Terminal Investment Ltd SA, the container terminal operating company majority owned by Geneva-based Mediterranean Shipping Co
The world's second biggest container shipping line, MSC, has become the latest firm to resume direct services to Iran, although trade remains cautious as Western sanctions are still in place and regional tensions escalate. The deal reached over Tehran's nuclear programme in exchange for
With U.S. sanctions on Iran expected to be lifted within the coming months, several container shipping lines have resumed calling the country in the second half of 2015. Among ships recently calling Iran is Panamanian flagged MSC Domitille which visited container port Bandar Abbas at the
Rates for shipping containers from ports in Asia to Northern Europe fell by 24.4 percent to $932 per 20-foot container (TEU) in the week to Friday, a London-based container derivative trader with access to data from Shanghai Shipping Exchange told Reuters.
Maersk Line, a unit of the A.P. Moller-Maersk Group, based in Copenhagen, Denmark, has retained its position as the world’s largest container shipping line, according to Alphaliner. It is still the world’s largest ocean carrier by capacity but its closest rivals
Evergreen Group founder and Group Chairman Dr. Yung-Fa Chang passed away at the age of 88 in Taipei on January 20, 2016. Dr. Chang was born in 1927. He founded Evergreen Marine Corporation in 1968 with just one secondhand general cargo vessel, and by 1985
China Shipping Container Lines (CSCL) has released a profit warning stating that it expects to close the financial year 2015 with a net loss of about 2.8 billion yuan (425 million dollars) compared to a profit of over one billion yuan recorded in 2014.
Maersk Line, container shipping line, has switched the UK call of its Samba service from Tilbury to DP World London Gateway Port. The first call on the service will be made by the Maersk Lanco on Monday, March 21. The rotation of the service includes calls at Santos, Paranagua, Itajal
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 13.9 percent to $469 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.