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Container Lines Plan Pacific Freight Rate Rise

Photo courtesy CMA CGM

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 Lines To Impose Surcharges

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


Members Of Grand Alliance To Add U.S.-Asia Service

Container shipping line members of the Grand Alliance reportedly will improve their service between North Asia and the U.S.


Transpacific Box Shippers Plan Freight Rate Rise

Photo: Maersk Line

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.  


Transpacific Container Shippers Plan Price Rise

File photo: containership at dock.

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


Atlantic Container Rates To Soar

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


Transpacific Container Shippers Plan Freight Rate Rise

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 Sees Rise in Asia Trade Volume

Pic: Maersk Line

 The world's biggest container shipping line Maersk Line  by capacity estimates  up to a 15% increase in container volumes from Asia to the rest of the world in early 2016, which could indicate that industry demand is on the rise, despite recent issues with weak demand and swelling overcapacity, according to The Wall Street Journal.   Robbert Van Trooijen, CEO of Maersk Line Asia Pacific, said, “There has been more demand certainly this time around than it was last


Chinese Authorities Raid Container-Shipping Firms

Photo: Maersk 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


Neptune Orient Lines Logs Q2 Profit

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


Taiwan Shipping in Troubled Water?

Pic: EverGreen

 Taiwan's shipping lines aren't looking quite so young and fresh as they were earlier, reports Bloomberg.   While the global container industry has embarked on a spree of pairings and menages-a-trois over the past 12 months, Taiwan's shipping lines have remained proudly single.


Oetker Sells Hamburg Süd to Maersk

Photo: Hamburg Süd

 Dr. August Oetker KG announces that, after more than 80 years, it is divesting its shipping business and will be selling Hamburg Süd with all activities, subsidiaries and principal assets.   The world's seventh-biggest container operator, Hamburg Süd


Maersk Line to acquire Hamburg Süd

Dr. Ottmar Guest Photo Hamburg Süd Group

Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line. The acquisition is subject to final agreement and regulatory approvals.  Hamburg Süd is the world's seventh largest container shipping line and a


Carriers Playing Poker with Ports

Image: Drewry Shipping Consultants Limited

 Container shipping lines are in danger of putting future port investment at risk in their demands for terminal handling cost reductions, according to the recently launched Ports and Terminals Insight report published by global shipping consultancy Drewry.  


European Commission Gives Conditional Backing to Hapag-Lloyd, UASC Merger

File photo: Hapag-Lloyd

The European Commission on Wednesday said it has given its conditional approval to a merger between German container shipping line Hapag-Lloyd and the United Arab Shipping Company (UASC).   The merger would create a combined company worth about 7 to 8 billion euros ($7.5-$8.6 billion)


Hapag-Lloyd UASC Merger to Get EU Approval Soon

Photo: Hapag-Lloyd

 The planned merger between German container shipping line Hapag-Lloyd and United Arab Shipping Company (UASC) could be on the verge of gaining EU Antitrust approval, reported Reuters.   The planned tie-up, which would create the world’s fifth-largest carrier is one step closer


Ships More at Risk After First Somali Pirate Attack in Years

File photo: Euronav

Merchant vessels sailing through busy shipping lanes between Somalia and Yemen may be underestimating the risk of piracy and terrorism following two attempted attacks last month, maritime officials say. More than 40 percent of the world's seaborne oil supplies pass through the Gulf of Aden and


OCEAN Alliance Vs 2M

Photo: CMA CGM Group

 With Ocean Alliance released its long-awaited network information, with members CMA CGM, China Cosco Shipping, Evergreen Line, and Orient Overseas Container Line to offer 40 services on the east-west trades with 498 port calls, battle looms in the global market as it challenges 2M


APL Gears Up as Part of Ocean Alliance

Photo: APL

As part of the CMA CGM Group, APL will join the league of the world’s largest container shipping lines in the OCEAN Alliance from April 2017. Navigating forward as a member of the world’s third largest container shipping Group, APL is poised to serve a network coverage of 38 loops


Hapag-Lloyd, UASC Seek EU Nod for Merger

File Image: a UASC boxship (CREDIT: UASC)

German container shipping line Hapag-Lloyd and Kuwait-based United Arab Shipping Company (UASC) have submitted concessions aimed at securing EU antitrust approval for their billion-euro merger. The companies put in their offer on Oct. 28, according to a filing on the European Commission website


Japan Shippers Merger Ambitious?

Photo: Mitsui O.S.K. Lines (MOL)

 The problem in the proposed merger of Japan's three biggest shipping companies (Nippon Yusen, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha) is, that synergy number looks ambitious - and if it falls short, the players haven't really improved their position much, says Bloomberg.  


Japanese Shippers Jolted as Strong Yen Pummels Bottom Line

a 14,000 TEU K Line boxship (CREDIT: K Line)

Japan's big three shippers will report earnings on Monday as yen strength threatens to widen annual loss estimates, in a sector shaken by shrinking demand and over capacity that has already sunk a major carrier. Nippon Yusen KK (NYK), Mitsui OSK Lines Ltd (MOL) and Kawasaki Kisen Kaisha Ltd


HSH Nordbank Seals Charter of Hanjin Ships to Maersk

Photo courtesy of Hanjin Shipping

Germany's HSH Nordbank has arranged a deal which will see six container ships from collapsed South Korean line Hanjin chartered out to Denmark's AP Moller Maersk, the state-backed lender said on Thursday. This is one of the first examples of Hanjin's lenders looking to resolve the fallout from


Egypt Seeks a New Suez Canal Toll System

Photo: Suez Canal Authority

Egypt is in talks with global shipping firms to change the way it charges vessels to pass through the Suez Canal, offering discounts for advance payments as it seeks to raise much-needed hard currency from a struggling industry. Denmark's A.P


Container Shipping Industry Calls for Climate Action

Pic: Business for Social Responsibility

 Members of BSR’s Clean Cargo Working Group (CCWG) have agreed on a climate action statement and call to action for the container shipping sector and its value chain to support private-sector contributions for the global goals on climate change.   






 
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