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
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. Fourth-quarter net profit fell to $936 million, Maersk said on Thursday, beating the average forecast of $808 million in a Reuters poll of analysts. Underlying group net profit this year is expected to be in line with 2013's figure of $3
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.
London-based shipping advisors Drewry Supply Chain Associates said that shipping liner operators have made significant inroads into cutting CO2 emissions. In its April Logistics Executive Briefing for Importers and Exporters, Drewry Supply Chain Advisors concludes that “overall, international shipping is playing its part to protect the environment and the measures taken so far by both government and the private sector seem to have been very effective.”
South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) is in talks with a unit of A.P. Moller-Maersk for a potential order to build ultra-large container ships, a DSME spokesman said on Monday. DSME is close to winning an order for some 11 container ships of 20
Walter Gimbert, vice president of Troy Container Line, will retire from the company as of May 14, 2015, after more than 20 years of service, the company announced today. “An inspiration to the entire team, Walter’s imprint on the company will continue to influence the company
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
ICTSI Oregon, Inc. is very disappointed to hear the news of Hapag-Lloyd's decision to cease its direct MPS service calling Portland. Hapag-Lloyd has been very supportive and loyal to the Portland market. Coupled with Hanjin's recent announcement to leave Portland and discontinue its Asia
Ship container line Hapag-Lloyd has placed an order for five vessels as it looks to bolster trade in Latin America ahead of next year's planned expansion of the Panama Canal, the world's fourth biggest player said on Monday. Workers are installing 22-storey lock gates to accommodate
Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel tumbles. Container shipping companies deal with the volatility in fuel prices by adding a separate bunker adjustment factor or fuel surcharge to their
By focusing on operational improvements, shipping companies are reducing fuel consumption, saving money and cutting greenhouse emissions, while continuing to increase the amount of freight transported. Maersk Line, the world's largest container carrier
Denmark's Maersk shipping said on Thursday it insisted on the release of a vessel and crew seized by Iran, adding it assumed the incident was related to a 2005 court case over uncollected cargo. The Marshall-Islands flagged Maersk Tigris container ship was detained by Iranian forces in the
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.
U.S. Navy ships started accompanying U.S.-flagged commercial vessels passing through the Strait of Hormuz on Thursday, seeking to ensure freedom of navigation two days after Iran seized a cargo ship, U.S. defense officials said. The officials, speaking to Reuters on condition of anonymity
The Iranian Embassy in Denmark has reportedly said that a cargo ship recently impounded the Persian Gulf by Iranian Navy forces will be released if the ship’s operator company settles its overdue debts to an Iranian plaintiff.
MSC Mediterranean Shipping Group has signed an exclusive partnership with the social media consultancy Orca Social Ltd. Over the past 45 years the family-owned shipping company, headquartered in Geneva, has maintained a modest approach to communications.
Iran has released a Marshall-Islands flagged container ship and its crew which were seized last month in one of the world's major oil shipping lanes, the vessel's operator said on Thursday. It confirmed reports from Iran. The vessel was diverted on April 28 by Iranian patrol boats in the
Iran released a Marshall-Islands flagged container ship Maersk Tigris and its crew has been released by Iranian authorities after the cargo company that owns it resolved a financial dispute which had been the subject of a court order.