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.
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
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
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
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 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
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.
ExxonMobil has awarded Amur Shipbuilding Plant a $140 million contract to refurbish the Orlan platform. Reuters reports that the Russian plant, Amur, will modernize the platform in order to start extraction at the Sakhalin oil offshore deposit in Russia’s far east. ExxonMobil operates the Sakhalin-1 project, where work on the platform is anticipated to begin in June.
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.
Fuel barge Laguna, carrying oil sold by Hin Leong to OW Bunker, arrested. Total claims against OW Bunker Far East and Dynamic Oil now over S$5 mln. Oil firms stepped up legal action against the Singapore units of bankrupt ship fuel trader OW Bunker with the arrest of a ship fuel delivery barge Laguna on Wednesday and claims totalling more than S$5 million. Court documents seen by Reuters showed that the overall amount of claims made against OW Bunker Far East (Singapore) and Dynamic Oil
BraemarSA has warned that a lack of maintenance has led to a significant increase in engine room fires according to its latest Asia Market Briefing. Analysing the trends report, its author, Graeme Temple, Far East Regional Director at BraemarSA
GE Aviation’s marine gas turbine business signed a multilateral memorandum of understanding (MOU) to cooperate in the joint development of LPG-fueled ferry design. The ferry will feature GE’s compact and lightweight Combined Gas Turbine
The withdrawal of Hanjin tonnage has not been enough to rectify the trade’s supply-demand imbalance and headhaul ship utilisation is lower compared to other major East-West markets. Westbound volumes rose by 1.8% in the third quarter and the growth rate for the year to date is now
VLCC rates last week hit highest since April, May; balanced tonnage supply-cargo demand support rates. Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs last week, could climb further if there is a flurry of pre-Christmas chartering activity
Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs this week, are likely to hold firm as owners tread water before the release of further Middle-East and West Africa cargoes, ship brokers said on Friday.
Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes
The bankrupting container operator Hanjin Shipping Co. is shedding half of its ground workforce and may ax equally that many of the crew on deck as the bankruptcy court is out to sell most of ground and sea assets, according to the Pulse.
Freight rates for large capesize dry cargo ships on key Asian routes, which fell to an eight-week low on Wednesday, are likely to continue to slide next week as charterers drip-feed cargoes in an over-tonnaged market, brokers said on Thursday.
In-depth analysis of Q3 container shipping costs reveals positive trends for the beleaguered container carrier segment, according to Xeneta, a benchmarking and market intelligence platform for containerized ocean freight. However, the market remains highly complex and unpredictable
Kongsberg Maritime has been chosen to supply a full integrated automation solution including the first delivery of its advanced new Fuel Gas Supply System (FGSS) for a newbuild 50,000 DWT LNG Fuelled bulk carrier, ordered by South Korean ship owner, Ilshin Shipping Company
CNOOC VLCC deal "draws line in the sand" for tanker owners; 25-30 MidEast fixtures still to be released up to mid-November. Freight rates for very large crude carriers (VLCCs), which plunged to a three-week low, are set to recover next week as owners hold out for higher rates on
Asian spot liquefied natural gas (LNG) prices rose this week as strong expected demand from South Korea added to appetite from India and Taiwan, while supply from the United States was slow to return from maintenance. The price of LNG for December delivery was $6
HullWiper, GAC EnvironHull’s diver-free hull cleaning technology, has completed its 100th clean for Maersk Line. The clean was conducted on the Maersk Ganges in the Jebel Ali Container Terminal, Dubai. The HullWiper Remotely Operated Vehicle (ROV) is an environmentally friendly and
The commercial short sea bulk activities of traditionally shortsea ship owners Carisbrooke Shipping Ltd and Nova Marine Carriers SA will be expanded and consolidated effective January 1, 2017. Notwithstanding both groups’ commercial networking offices
Softening seaborne trade and rising fleet growth are expected to depress chemical shipping freight rates over the next few years, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.