Dutch oil, chemicals and storage group Petroplus is one of the partners to launch an Internet-based portal and online exchange to transform the traditional Rhine-based shipping sector. Shippers, integrated barge owner companies, independent barge brokers and individual barge owners will have the opportunity to conduct business online through this portal, Petroplus said in a statement. The other founding shareholders of the project are BP Amoco, shipping and tank storage firm Royal Vopak and Germany's Marquard & Bahls AG which trades under the brand names Mabanaft and Oiltanking. The project is supported by the Rhine Barge Owners Association, Petroplus added. Management and technology consultancy Booz Allen & Hamilton will provide strategy and e-technology services to the venture. Petroplus said the portal would be a neutral market place, focusing on barge freight trading on the Rhine and associated waterways. It will be extended to provide content and services, including weather and information on Rhine levels and rates, pre and post fixture status updates, risk management, bunkering and maintenance and vetting checks. Petroplus said the Rhine transport market had an estimated size of $650 million per year for freight brokering transactions alone. An additional four billion euros is spent on services related to barge operations, it said.
Longtime industry veteran Joseph F. Daly passed away on April 2, 2005. He was 91 years old. Joseph F. Daly began his career in the transportation industry in 1947 when he joined F. W. Hartmann directly out of the armed forces. A veteran of the US Army, Daly enlisted at age 17 and returned from active duty with the rank of Captain after fighting in the Pacific during WWII. Daly later served as President of F. W. Hartmann, a major steamship agent and freight broker that represented Hansa Line
Asian Panamax freight rates for dry bulk cargo bounced back this week and shipping agents said a recovery would become more evident with the start of South American export seasons in March. "Chartering activity is much more active than last week and we saw a substantial number of fixtures this week," said an executive at a shipping firm which operates Panamax-class business. For the benchmark U.S. Gulf to Japan route, freight rates were quoted higher on Friday at $21.775 per ton against $21
Asian Panamax freight rates for dry bulk cargo market edged lower this week on slowing demand and brokers said on Friday a recovery was likely to come only in mid-March with the start of the South American export season. For the benchmark U.S. Gulf to Japan route, freight rates were quoted lower at US$21.42 per ton compared to $22.19 one week ago, while spot freight rates for the U.S. Pacific route were quoted at US$16.83 per ton, down from $17.28.
Atlantic Panamax earnings were given a brief respite from the steady erosion of freight rates that has dogged the sector for the past three weeks, shipbrokers said. Brokers felt that freight rates had hit rock bottom, giving Atlantic Panamax returns one last chance to surge before the end of the year. The Baltic Exchange reported that charterer GIC paid $20.85 for an unnamed vessel on the key U.S. Gulf to Japan grain route, which was above last done levels that reached $20
Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), a global on-demand software-as-a-service (SaaS) logistics solutions provider, has acquired the logistics business of privately-held Oceanwide Inc. in an all-cash transaction. Oceanwide's logistics business is focused on a web-based, hosted SaaS model suited for customs brokers and freight forwarders who choose to outsource rather than procure or manage traditional enterprise applications behind their own firewalls.
Panamax rates continued to weaken due to oversupply and limited cargoes on Monday, but owners were hopeful that the market was finding a floor, brokers said. The physical market remained in decline, but the forward freight agreement market was holding steady. Buying interest on the Biffex futures market on Friday had suggested a potential bounce this week, brokers said. Panamaxes struggled to find employment and charterers were still using their advantage to push rates lower.
Eastbound VLCC freight that nearly topped W200 in November is now firmly mired beneath W100. "The market's really lost its way, but much of that is just down to sentiment," said one London tanker broker. Wednesday's fixture lists showed a number of deals hovering around the W100 mark, and even the very modern New Circassia accepted W101 from Stasco for an eastbound trip. Friday's fixture list however, showed the slightly older Musashi Spirit had been fixed at W90 to Japan
Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments, shipping agents said. But brokers said they expected freight rates to show signs of weakness next week as several Asian countries would be on holiday. "Chartering activity will slow down next week as many countries in the Asian region close for the Chinese New Year," said one domestic broker
The dry cargo freight market was enlivened by a higher degree of Panamax activity in most areas, while Capesize conditions remained subdued with little fresh business quoted and few fixtures reported, brokers said. On May 9, the Baltic Dry Index gained 2 points from the day before to 1,609, the Baltic Panamax Index rose 11 to 1,512 and the Baltic Handy Index gained one to 1,153, while the Baltic Capesize Index fell six to 2,171.
Ports of Auckland, Napier Port and Icepak today announced the formation of a joint-venture to develop a new inland port and intermodal freight hub at Longburn, Palmerston North and to target Growth in Manawatu-Whanganui Region. Located on the site of the old Longburn freezing works owned by
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
The world's biggest container shipping company Maersk Line, a unit of A.P. Moller-Maersk , said it plans to raise freight rates on routes from Asia to northern Europe by $400 per 20-foot container (TEU). The new rates will take effect from Sep
CEVA Logistics, one of the world’s leading supply chain management companies, today announced plans to expand its presence in the San Diego market with a new Freight Management and Logistics facility totaling 125,000 sq. ft. (11,612 sqm.) and 23 dock doors.
The world's biggest container shipping company Maersk Line, a unit of A.P. Moller-Maersk, said it planned to raise freight rates on routes from Asia to northern Europe by $450 per 20-foot container (TEU). The new rates will take effect from Aug. 1, the company told Reuters in an email on Friday
Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering programme for the first 20 days of August, brokers said on Friday. The pause would come after charter rates from the Middle East to
Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Wednesday it had bought 175,000 metric tons of Russian wheat for shipment Sept. 11-20. Mamdouh Abdel Fattah, the vice-chairman of GASC, gave the following breakdown of the purchase:
Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from
Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 21 percent to $1,455 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.
KPI Bridge Oil, a global broker and trader in marine bunkers, marine lubricants and risk management products, has appointed Carsten Ladekjær as Chief Executive Officer for the group. Ladekjær is an industry veteran with 20 years in the bunker business
Crude oil tanker earnings on the major Middle East route were steady this week, helped by light bookings although rates have yet to rebound after a recent surge late last month. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan <DFRT-ME-JAP> on Thursday
Artemus Transportation Solutions will be holding its Global Commerce- International Transportation & Trade Shipping 101 Course on September 15-19 in the Seattle-Tacoma area. This is the third time the Shipping 101 course will be hosted by the Marine Exchange of Puget Sound in
Toronto-headquartered Livingston International says it has acquired New York-based FPA Customs Brokers, Inc. “We look forward to welcoming the FPA team and their clients into the Livingston family,” said Livingston CEO Steven C. Preston.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 10.7 percent to $1,198 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.
Dry Bulk Shipping: All eyes on Brazilian iron ore exports, as we await the long-anticipated lift in freight rates. Demand The freight market, which performed so well in Q1, has certainly not delivered in the past four months. BDI has dropped from 1,621 on March 20 to hit 747 on July 29