Container Shipping Lines
Container shipping line members of the Grand Alliance reportedly will improve their service between North Asia and the U.S.
A container shipping organisation urged companies on Monday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU), corresponding to an increase of 14.2 percent from current levels, from Sept. 1. TSA (Transpacific Stabilization Agreement) said the planned increase follows strong cargo demand and high vessel utilization levels in recent months, which forward bookings suggest will continue through September.
Bloomberg reported that Neptune Orient Lines Ltd. and 11 of the largest shipping companies plying the Pacific Ocean said costs of moving cargo to the U.S. in 2006 will rise 7 percent on higher fuel prices, which may spur them to raise freight rates. The cost of transporting containers by trucks and railways will increase as much as 25 percent, the 12-line Transpacific Stabilization Agreement, whose members ship about 70 percent of trans-Pacific trade, said in a statement today.
Container shipping line Maersk Sealand, owned by Denmark`s shipping and oil conglomerate A.P. Moeller (APM), said on it was ready to expand again after a successful integration of its last major acquisitions. "We aim for a bigger market share and want to grow faster than the market", APM Chief Financial Officer Eivind Kolding said. In 1999 Maersk Line acquired South African shipping group Safmarine and U.S.-based international container line Sea-Land for a total of $1.04 billion
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
Container shipping companies were urged to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) with effect from Aug. 1, their organisation TSA said on Wednesday. Members of the TSA (Transpacific Stabilization Agreement) include 15 of the world's biggest container shipping lines such as Denmark's Maersk Line, a unit of A.P. Moller-Maersk , privately owned Switzerland-based Mediterranean Shipping Company (MSC), French privately held CMA CGM, China's COSCO
Maersk Line signed a contract with 's Daewoo Shipbuilding & Marine Engineering Co., Ltd. to build 10 of what the company terms as the world's largest and most efficient vessels, with an option for an additional 20 vessels. Scheduled for delivery between 2013 and 2015, they will entirely change the shipping industry's understanding of size and efficiency. Called the 'Triple-E' class for the three main purposes behind their creation -- Economy of scale
Agenda announced for forthcoming JOC Container Shipping Conference in Shanghai, China Drewry Shipping Consultants estimate that container shipping lines collectively lost $5.2 billion in 2011. To thrive in 2012, the industry will have to tackle declining rates and a potentially chaotic round of mergers and acquisitions. Business leaders will discuss the potential scenarios and predictions for the upcoming year at UBM Global Trade's JOC Container Shipping Conference ShanghaiJune 4-5 at the
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. “Historically, we have communicated with our customers on a one-to-one, offline basis. New technology allows people and companies to communicate in new and exciting ways
United Arab Shipping Company (UASC), a container shipping line recently announced the launch of a North Europe – US East Coast (NEU1) service as well as an order of 3,500 reefer containers. The new NEU1 service is part of UASC’s strategic global network to provide customers with worldwide transportation access and reach. The service consists of a weekly sailing making five direct port calls in North Europe to the principle ports of Le Havre, Antwerp, Rotterdam
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 26.7 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.
Rising global container port demand and ever larger vessels are driving terminal operators to make significant investments in additional capacity, according to the Global Container Terminal Operators Annual Report 2015 published by global shipping consultancy Drewry.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped by 26 percent to $591 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Shipping Exchange showed. The rise in spot freight rates came after all major container shipping
China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ. The company wants to fulfill capacity commitments in its Ocean Three alliance with
China Shipping Container Lines has placed orders for eight 13,500 twenty-foot-equivalent container ships at Shanghai Jiangnan Changxing Shipbuilding, continuing the aggressive fleet expansion began last year. As agreed, Jiangnan Changxing will design and build eight 135
The slowdown in China’s economy poses some risks for container shipping, according to Drewry Maritime Research. According to a new report from Drewry Shipping Consultants Ltd, the risks from a slowdown in Chinese consumption to container shipping are far smaller than for the
Asia to Northern Europe shipping freight rates for transporting containers jumped by 177.3 percent to $1.109 per 20-foot container (TEU) in the week ended on Friday, reports Reuters, quoting data from the Shanghai Shipping Exchange.
The first international container ships began arriving in Iran this week after the nuclear deal between Tehran and world powers, yet many ship owners remain wary of resuming business until sanctions are removed - still some months away. Iran had depended on foreign ships for much of its imports
Sohar Port and Freezone has added South Korea’s container line Hanjin Shipping to its list of global shipping lines offering direct links to this Omani deepsea port. Hanjin started its container service to Sohar from Far East
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 24.9 percent to $833 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.
United Arab Shipping Company (UASC), a leading container shipping line and emerging global carrier, has ordered another 3,500 reefer containers, after ordering 2,000 units from Japan’s Daikin Industries in January, says a report in JOC.
Denmark's AP Moller-Maersk, which operates the world's largest container shipping line, has revealed another huge share buy-back scheme a year after it launched its current programme. Maersk will buy back up to $1bn (DKK 6
Though the Danish conglomerate AP Møller-Maersk posted higher-than-expected earnings, it has cut its forecast for global trade growth and abandoned several medium-term profit forecasts, as per a report in FT. Maersk overcame low oil prices and freight rates in its container
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 23.2 percent to $640 per 20-foot container (TEU) in the week ending on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
The world's largest container shipping company, Maersk Line, plans to raise spot freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from Sep 1, the company said. Spot rates for twenty foot equivalent unit containers (TEU) will rise by $1,000