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Far East

CMA CGM Hikes Asia-Europe Rate

Photo: CMA CGM

 CMA CGM will increase rates US$900 per TEU from all Asian ports to the Mediterranean including the Black Sea and North Africa - and EUR800 (US$892.93) per TEU to Syria from March 1.   The Frech shipping giant will also increase rates US$250 per TEU and $400 per FEU on 40-foot high cube dry containers and tank containers from north Europe to the Far East from March 15.   "In a continued effort to provide quality services, CMA CGM hereby informs its customers of a Rate Restoration Program: from Far East and Japan and to West Med, East Med, Adriatic, Black Sea and North Africa," says a statement from the company.   The increases apply to cargo from north Europe, Scandinavia, Baltic and the United Kingdom going to China, Japan, Korea, southeast Asia and Bangladesh.  


Sweeney Promoted to VP of Far East Operations at Crowley

Effective March 1, 2004, Alex Sweeney will assume the position of Vice President of Russian Far East Operations. In his new position, Sweeney is responsible for the management of the BETS Sealift to Lunskoye, Sakhalin Island and the tow of the Orlan from Sov Govan, Russia to Ulsan, Korea. He will report directly to Steve Peterson, Senior Vice President and General Manager, Energy and Marine Services and will work closely with Chris Peterson, General Manager, Contract Services


Dry Bulk Trends

Change Of Sentiment Seen In Atlantic Sector The dry cargo freight market saw a 15 point decline in the Baltic Panamax Index to 1,595, which was largely caused by a change of sentiment in the Atlantic, brokers said. March tonnage in the U.S. Gulf was struggling to obtain previously fixed levels and rates to the Far East in particular were lower, they added. Capesize rates remained steady but handy sizes were in stronger demand world-wide and there were signs that the hitherto depressed


Hamburg Port's Liner Network

Hamburg has one of the most comprehensive liner networks in Europe, which in turn means that it plays an important role as a transport hub for global cargo flows. Specialized liner traffic connects Hamburg to six continents. Over 100 container liner services travelling to destinations all over the world are based in Hamburg. One of the main markets for the Port of Hamburg are liner services from and to the Far East


UMM Salal First Call in Port of Hamburg

On 7 June 2011 the UMM SALAL, the biggest containership to date belonging to United Arab Shipping Company (UASC), tied up in the Port of Hamburg on her maiden voyage. The giant container ship, with a capacity of 13,100 TEU (20 foot standard containers) was handled at Eurogate Container Terminal Hamburg (CTH).   The UMM SALAL is 365.5 metres long, 48.40 metres wide and is equipped with over 1,000 reefer slots, making it the first of nine ships of this size to be completed in 2011 and 2012


Braemar Appoints New Director

Graeme Temple, Regional Director

Braemar Technical Services (Incorporating The Salvage Association) announced the appointment of Graeme Temple to the role of Regional Director for its Far East region.   Graeme will take responsibility for strengthening the company’s surveyor network in this important region and further developing relationships with the London and International Insurance markets as well as the local Singapore and other Far East Insurance markets


SembCorp Gets BP Shipping Deal

Singapore's Sembawang Shipyard Pte Ltd., a subsidiary of SembCorp Marine, has entered an agreement to repair the Far East fleet of BP Shipping Ltd. for an indeterminate amount of time. Sembawang Shipyard managing director Heng Chiang Gnee said the company expects to refit and drydock about 12 of BP Shipping's fleet of 30 in a typical year. He said he expected a typical contract value of about $1.2 to $1.7 million to repair each of the vessels


Westbound Tanker Markets Strengthening

Westbound tanker markets from the Middle East are strengthening while eastern charterers take a break, brokers said. Mideast-U.S. Gulf rates are running at about W80-85 ($17.50 per ton) for VLCC liftings and from West Africa about W90 ($9.25) - up a couple of Worldscale points on last week. But rates to Far East have eased back to the mid W90s ($10.75 to Japan) after climbing past W100 last week.


PD Ports Promote Trade Opps in Far East

PD Ports senior representatives, including David Robinson, Chief Executive Officer, have returned to PD Ports’ Teesport operations, following a successful 14-day tour of the Far East. The aim of the tour, which included visits to Taipei, Singapore, Malaysia, Hong Kong, South Korea and Dubai, was to promote greater use of Teesport and stimulate interest for new shipping lines to call at the Port direct.  Teesport currently has frequent callings from eight container shipping lines


Shipping Majors Expand Cooperative Setup

CMA CGM Jules Verne (Photo courtesy CMA CGM)

The CMA CGM Group announced a new cooperation setup with current partner Maersk Line, APL and OOCL on three existing Far East to Indian Subcontinent services (CIMEX 2/FM3, CIX, CIX3), starting in February 2014. In a Slot Sharing Agreement that also includes partners as Emirates Shipping Line, Hamburg Süd and Regional Container Lines, 18 vessels with a total capacity of about 17,500 TEU’s will be deployed on the three Far East-Indian Subcontinent services.


Maersk Line Lowers Asia-Europe Freight Rates

Photo courtesy of Maersk

Maersk Line, the world's largest container shipping company, told its clients on Tuesday it will set the maximum freight rate from Far East Asia to Europe at $1,250 per 20-foot container (TEU) as of August 1, down by $200 from the previous month's comparable rate.  


Asia Dry Bulk-Capesize Owners Remain Confident

File Image: typical bulk carrier underway (BSM)

Number of idle ships down to around 15, from 70 in early 2016 - broker. Freight rates for large capesize dry cargo ships on key Asian routes could nudge lower next week although they are generally expected to remain around the current levels, ship brokers said.


Maersk Line Reroutes Asia

Photo: Maersk Line

 US East Coast service through the Panama Canal to improve transit times significantly!   Maersk Line will transform its TP12 service in to a standalone, around-the-world service that provides significantly faster transit times between Far East Asia and the US East Coast.  


GAC Russia Expands Eastwards

GAC Russia said it is expanding eastwards with the opening of new branches at Nakhodka and Yuzhno-Sakhalinsk to meet demand for shipping services as opportunities open up in Far East.   According to GAC Russia, this means it is the only ship agent with a presence throughout the


Asia Dry Bulk-Capesize Rates Could Rise in Short Term

File Image: a so-called ValeMax bulk carrier, commonly used in th Brazil-Asian trades (credit: Vale)

Shipowners seeking $10 per tonne from Brazil-China; dry cargo demand to remain subdued this year. Freight rates for large capesize dry cargo ships on key Asian routes may firm up next week on increased chartering activity, tighter tonnage supply and possible port disruption caused by bad


Expanded Panama Canal Nears Inauguration

Graphics: Panama Canal Authority

 As the global shipping industry facing tough weather, the $5.25 billion expansion of the Panama canal is set to open Sunday (June 26), reports AP. The deeper, wider channel is designed to accommodate the world’s growing fleet of mega cargo ships and expanding trade between North


Demand, Bunker Pricing Spurs Asia Dry Bulk-Capesize Rates

File Image: a bulk carrier underway (Credit: BSM)

Owners asking $1 per tonne more on Australia-China rates; Panamax rates climb to two-month high, but remain under pressure. Freight rates for large capesize dry cargo ships on key Asian routes could continue to firm next week on higher cargo volumes and bunker prices


Asia Dry Bulk Capesize Rates to Climb

File photo: Aurelie Moulin

Freight rates for large capesize dry cargo ships on key Asian routes could move higher next week on a potential ship shortage, higher cargo volumes and storms in China that could disrupt sailing schedules leading charterers to scramble to fix replacement tonnage, ship brokers said.  


Widened Panama Canal to Affect Trade Patterns

Photo: Panama Canal Authority

 It was another lacklustre month for the shipping industry as freight rates in almost all sectors softened further. Drewry’s Earnings Index declined by 0.5% during the month to 52.4.    The new locks of the Panama Canal finally became operational in June


Another Japanese Deal for MacGregor Hatch Cover

Logo

MacGregor, part of Cargotec, has signed a contract for the design and delivery of key components and the fabrication of steel structures for the hatch covers on board five 14,000 TEU container vessels under construction at Japan Marine United's (JMU) Kure shipyard


MacGregor Hatch Covers Continue Japanese Win Streak

MacGregor, part of Cargotec, has signed a contract for the design and delivery of key components and the fabrication of steel structures for the hatch covers on board five 14,000 TEU container vessels under construction at Japan Marine United's (JMU) Kure shipyard


ISS Awarded NYK Liner Agency in Australia

Maritime and logistics service provider Inchcape Shipping Services (ISS) has been awarded the NYK Liner agency in Australia.     Part of transportation company Nippon Yusen Kabushiki Kaisha Group, NYK Line container services has appointed ISS to represent its New Zealand Singapore


LUKOIL Marine Lubricants Opens Hong Kong Office

LUKOIL Marine’s Managing Directors June Manoharan and Jan Thiedeitz at the opening ceremony ribbon cutting. (Photo: LUKOIL Marine)

LUKOIL Marine Lubricants has opened a new branch office in Hong Kong to tap into an increasing market share in Hong Kong and the greater China area.   The official opening ceremony was held on Friday, May 27, 2016, and was attended by more than 50 guests from Hong Kong and Taiwan


Iron Ore Surge Could Boost Asia Bulk Capesize Rates

Freight rates for large capesize dry cargo ships on key Asian routes could rise next week on higher volumes of iron ore cargoes, ship brokers said.   "It's a bit more positive, optimistic next week," a Singapore-based capesize broker said on Thursday.  


Sovcomflot Buys Nine PRISCO Tankers

Russia’s PAO Sovcomflot (SCF Group) subsidiary SCF Tankers Ltd. has won an auction for nine arctic-going tankers that belonged Primorsk International Shipping Ltd. (PRISCO), who filed for chapter 11 protection in January 2016. The purchase deal is worth $215 million






 
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