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.
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
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
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
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
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
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.
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.
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
Frequent power cuts on the remote Kamchatka peninsula have forced Russia's military to fire up reactors on nuclear submarines to provide electricity to bases there, an admiral said. Admiral Valery Drogin told the official Rossiiskaya Gazeta government newspaper that even the strategic nuclear missile bases on the Pacific Ocean peninsula were now being powered by reactors on board the submarines. Power stations in Russia's Far East suffer from chronic fuel shortages because of the high cost
Holidays in Asia likely to dampen chartering activity; Outlook still "slightly positive" for fourth quarter. Freight rates for large capesize dry cargo ships on key Asian routes could hold steady around current levels next week in a quiet market, ship brokers said on Thursday.
On August 29 a contract was signed by Jos van Woerkum, Managing Director of Damen Shipyards Hardinxveld, and Willem-Harm Mastenbroek, owner and managing director of V.O.F. Sleepboot ISA, for the delivery of a new Damen Shoalbuster 2709.
Global trade enabler DP World and the Summa Group, a diversified business with significant infrastructure investments in Russia, have signed a Memorandum of Understanding (MoU) to explore investment opportunities in ports, special economic zones and inland logistics facilities in the Russian
PAO Sovcomflot, Asea Brown Boveri Ltd. (ABB) Company and the Admiral Nevelskoy Maritime State University (MSU) have signed an agreement for research, technological and educational partnership. The document provides for the establishment of the Marine Propulsion Simulation Centre at MSU in
Maersk Line, the world's biggest container shipper and a unit of Danish conglomerate A. P. Moller-Maersk, said on Friday in relation to the collapse of South Korea's Hanjin Shipping Co Ltd: * Maersk Line expects minimal impact on its customers' cargo.
About 10 Hanjin vessels effectively seized at China ports; Court says plans to start rehabilitations proceedings soon. Hanjin Shipping Co Ltd vessels have been seized at Chinese ports in the wake of the South Korean firm's collapse, further roiling the industry as freight rates jump and
Krishnapatnam, the country’s largest all-weather; deep water port on the east-coast of India has marked another milestone towards operational excellence as it launched its weekly mainline service from China to Krishnapatnam Port. The service to be operated by Maersk line in partnership with
Several years ago, the main market for Suezmax tankers was the West Africa to North America trade. When this market dried up in the period from 2012 to 2014/15, it looked like the Suezmax fleet was in for hard times. Tanker Research & Consulting department at Poten & Partners takes a
The tanker market is forecast to see challenging conditions with technical and structural factors impacting earnings, according to independent research and consultancy firm Maritime Strategies International (MSI). In its latest Tanker Freight Forecaster
In the world of seaborne trade, distance forms a crucial element in terms of determining how much demand for vessel capacity is created by trade volumes, says Clarksons Research. One interesting measure of this is the estimated average haul of global seaborne trade
Carl Fredrik Grosland has joined Nordic American Tankers as Vice President, working on analyses, projects and business development. Reporting to Chairman & CEO Herbjørn Hansson in a staff position, he will also work closely with others both in NAT and NAO (Nordic American
The first Minerva class corvettes, decommissioned by the Italian Navy, have been converted Fincantieri has delivered today at its shipyard in Muggiano, La Spezia the first two units part of the supply contract of four Offshore Patrol Vessels (OPV), to the Bangladesh Coast Guard (BCG)
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. From the Far East to the US East Coast the TP12 service will transit the new Panama Canal locks and
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
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.