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
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
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.
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.
Aberdeen-headquartered Hydro Group plc have secured the Company of the Year title at last night’s [Thursday 3 February] Subsea UK Awards. The cable and connector specialist was recognised for its performance in the subsea sector and its significant development to date
Australia-China rates could climb on improved weather. Brazil-China rates to hold steady, fall on lack of charters. Freight rates for large capesize dry cargo vessels on key Asian routes could diverge next week with rates from Australia to China rebounding on improved weather
Renewed activity at the Port of Long Beach’s largest terminal and extra ships calling ahead of the Lunar New Year pushed cargo 8.7 percent higher in January compared to the same month a year ago. Dockworkers moved 582,689 twenty-foot equivalent units (TEUs) last month
Kalmar, part of Cargotec, has signed a contract with APM Terminals to deliver 30 Kalmar Hybrid Shuttle Carriers with high level of automation readiness as well as the related service and support to the customer's MedPort Terminal in Tangier, Marocco
Slowed by industry headwinds and challenges that included major customer Hanjin declaring bankruptcy, the Port of Long Beach said it moved almost 6.8 million containers in 2016, its fifth best year ever. Overall cargo declined 5.8 percent in 2016 compared to 2015
The contract freight rate benchmarking company Xeneta warned about further uncertainty for the global container shipping market in 2017. Although rates have risen significantly from the historic lows of early 2016, giving battered ship owners some reprieve
Despite lower rates, rental prices doubled from last year; capesize vessels totalling 15 million DWT to be delivered this year - broker. Freight rates for large capesize dry cargo ships on key Asian routes are likely to drift lower as tonnage volumes outpace cargo demand even as owners
After another year of extremely difficult market conditions, many would forgive liner sector players for an air of resignation, according to Clarksons Research. However, despite a challenging freight market, charter rates remaining firmly in the doldrums and a major corporate
Brazil-China rates hit 15-month high for second time this year. Freight rates for large capesize dry cargo ships on key Asian routes could hold steady or slip slightly next week after unexpectedly climbing this week on strong cargo volumes, ship brokers said.
Chartering activity could slow down in March due to refinery work; growth in tanker fleet could climb 6.5 pct, pressuring rates. Freight rates for very large crude carriers (VLCCs) are likely to fall next week as charter activity from China slows ahead of the Chinese New Year holiday
McQuilling Services has released its 20th Anniversary Edition 2017-2021 Tanker Market Outlook. This 200-page report provides a five-year spot and time charter equivalent (TCE) outlook for eight vessel classes across 19 benchmark tanker trades, plus two triangulated trades
Asian spot LNG prices extended losses this week as oversupplied Japanese utilities sought to offload cargoes and as key European gas benchmarks softened. Asian prices for LNG delivery in March fell 25 cents to about $7.75 per million British thermal units (mmBtu), traders said
A naming ceremony was held January 30 for SCF Group’s new icebreaking platform supply vessel (IBSV), Gennadiy Nevelskoy, named after a famous explorer of the Sakhalin Island and the Russian Far East Built by Arctech Helsinki Shipyard
Floor may have been reached on Western Australia-China rates; dry cargo demand could fall 5.4 pct in first quarter. Freight rates for large capesize dry cargo vessels on key Asian routes are likely to hold around the current levels next week on ample tonnage supply even as chartering
Oil majors and trading houses are set to ship an unprecedented volume of U.S. crude oil to Asia in coming weeks, boosting already high flows to the region due to higher prices from OPEC production cuts. Traders have estimated that some 700,000 to 900