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Freight Charge

Asian Shippers Face Rise in Ocean Container Freight Rates

All Asian shippers wil have to pay higher freight charges to European container ship operators from September 2012. From September 1, Denmark-based Maersk, the world's largest container line, will implement a general freight increase of 250 U. S. dollars per TEU and 500 U.S. dollars per FEU on all shipments from the Far East to the Indian sub-continent, including India, Pakistan and Sri Lanka. Taking a cue from Maersk, Emirates too has announced a freight increase of 200 U.S. dollars per TEU on shipments between the Far East/ South-East Asia and the Indian sub-continent. The Geneva-based Mediterranean Shipping Company (MSC), the world's second largest container line, has announced peak season surcharge and bunker surcharge from September 1.The peak season surcharge of 300 U.S. dollars per TEU will be levied on the company's Cheetah service from Asia to South and East Africa, Indian Ocean and Mozambique ports. MSC will levy a bunker surcharge of 860 U.S. dollars per TEU on shipments from Asia to the East and West Mediterranean, the Black Sea, the UK, North and Western Europe, Scandinavia, Baltic and African ports. France's CMA CGM, the world's third largest container line, has also announced several rate increases across global trade routes as part of a rate restoration initiative.  


U.S. DOJ: Guilty Plea in Price Fixing Case

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Florida-Based Sea Star Line LLC Agrees to Plead Guilty and Its Former President Is Indicted for Price Fixing on Coastal Freight Services Between the Continental United States and Puerto Rico Sea Star Line Also Agrees to Pay $14.2 Million Criminal Fine. Sea Star Line LLC has agreed today to plead guilty and to pay a $14.2 million criminal fine for its role in a conspiracy to fix prices in the coastal water freight transportation industry, the Department of Justice announced


CP Ships 3Q Results

CP Ships Limited today announced unaudited operating income for third quarter 2004 of $41 million, up from restated $38 million operating income in third quarter 2003. Net income available to common shareholders was $31 million compared to restated $27 million in the same period 2003. Basic earnings per share was $0.34 compared with restated $0.30 in third quarter 2003. EBITDA(A) was $72 million compared to restated $67 million in third quarter 2003


Former Shipping Exec Sentenced

A former high-level shipping executive was sentenced today to serve 48 months in jail and to pay a $20,000 criminal fine for his role in an antitrust conspiracy involving the transportation of goods to and from the continental United States and Puerto Rico by ocean vessel, the Department of Justice announced on Jan. 30. This is the longest jail sentence ever imposed for a single antitrust charge. Peter Baci of Jacksonville, Fla., pleaded guilty on Oct. 20, 2008, in the U.S


Matson's 2013 Westbound Hawaii Service Rates to Increase

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Matson has announced  that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $175 per westbound container and $85 per eastbound container, effective January 1, 2013.    The increase will be filed with the Surface Transportation Board.  In addition, Matson will raise its terminal handling charge by $50 per westbound container and $25 per eastbound container, also effective January 1, 2013


More Matson Rates to Increase

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Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Guam/Commonwealth of the Northern Marianas Islands (CNMI) and Micronesia services by $275 for both westbound and eastbound containers, effective January 26, 2014. The increase will be filed with the Surface Transportation Board and the Federal Maritime Commission. The rate increase also applies to the Commonwealth of the Northern Marianas Islands


Panamax Market Should Enjoy Solid Week

Increased demand in the Atlantic is likely to keep Panamax trading into positive territory this week, shipbrokers said on Monday. They said Atlantic Capesize freight rates had risen in recent days, especially for Capesizes available for early loading positions and time-charters. Reports in the sector had suggested Belgium charterer Bocimar had time-chartered a number of Capesizes lately and freight rates had risen sharply on the back of anticipated demand in the area, shipbrokers said.


Panama Canal Debuts Revised Measurement, Pricing

Following a recommendation from the Board of Directors of the Panama Canal Authority (ACP), the Cabinet Council of the Republic of Panama today approved a new measurement and pricing system for full container vessels and other vessel types with on-deck container carrying capacity. “The bottom line is that we simply closed a loophole that prevented us from charging for containers carried on-deck,” said Administrator/CEO Alberto Alemán Zubieta


AAPA: Study Proves Need For Improvement

The American Association of Port Authorities (AAPA) welcomed the recent release of the U.S. Department of Transportation (U.S. DOT) "Report to Congress on National Highway System (NHS) Intermodal Freight Connectors." The report, requested by Congress under the provisions of the Transportation Equity Act for the 21st Century (TEA-21), reviews connectors to seaports, airports, and major intermodal terminals to determine: their condition; improvements or investments made or planned; and


TBS International Reports Q4 and Year 2010 Financial Results

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DUBLIN, IRELAND, Mar 15, 2011 (MARKETWIRE via COMTEX) --TBS International plc (NASDAQ: TBSI) announced today its financial and operating results for the fourth quarter and year ended December 31, 2010. Management Commentary: Joseph E. Royce, Chairman, Chief Executive Officer and President stated: "The TBS results for the fourth quarter 2010 reflect the ongoing downward pressure on dry cargo freight rates that have continued into the first quarter of 2011


Danish Investors Sue Bankrupt OW Bunker

Photo: OW Bunker

A group of Danish investors have sued OW Bunker for 800 million Danish crowns ($120 million) for misleading them in its initial public offer (IPO), after the ship fuel supplier filed for bankruptcy just months after listing. The 27 institutions


Baltic Exchange Eyes Move into Commodities

Baltex reaches breakeven level since start of 2015; Baltic previously faced broker opposition over platform. London's Baltic Exchange is studying a potential foray into commodities and is open to proposals on tie-ups as other exchanges attempt to boost volumes, its chief executive said.


Multimodal Freight Bill Introduced in US Senate

Cantwell, Booker, Murray, Markey introduce freight investment legislation aiming to eliminate chokepoints at critical highway, rail, port and intermodal facilities to support economic growth, and reduce the impact of freight movement on communities  


Hyundai Sees Mega Ships Leading Global Demand

Pic: Hyundai Heavy Industries Co

 As the demand for mega vessels has increased, Hyundai Heavy Industries Co. expects mega- sized container ships to lead global orders until early next year as shipping companies seek ways to cut costs, reports Bloomberg. Hyundai Heavy is the world’s biggest shipbuilder.  


Asia Tankers-VLCC Rates Softening

Owners waiting for charterers to release July cargoes next week.   Rates for very large crude carriers (VLCCs) on key Asian routes are set to soften early next week before rebounding on the first wave of supertanker charters from the Middle East to Asia in July's fixture


Tanker Market Full Streams Ahead, Says OPEC

Monthly averages of crude oil spot freight rates. Graph by OPEC

 The dirty tanker market enjoyed a general improving sentiment in May for vessels in all reported classes on the back of high tonnage demand and increased activities.    Clean tanker freight rates declined on average, mainly as freight rates reported on the West of Suez were weak


Norway’s DSD Shipping in Second US Indictment

Pic: DSD Shipping AS

 Norwegian firm Det Stavangerske Dampskibsselskab AS (DSD Shipping), and four of its employees, are now under three-count indictment returned by a federal grand jury in Lafayette, LA, all relating to alleged environmental crimes and their cover ups.  


Darwin Port Charges Revised

Ship docked at Darwin Port

  Darwin Port Corporation has advised that, effective 1 July 2015, port charges will be indexed by 0.8% applying the Darwin All Groups CPI for the March 2015 quarter. With the low percentage change of less than 1% most standard port charges will see a very minimal increase and some


Master Prosecuted for Cruise Liner Grounding

The master of a cruise liner which was damaged going over rocky shoals has pleaded guilty to two charges at Belfast Magistrates court June 16, the U.K. Maritime and Coastguard Agency (MCA) reported.   Captain Joao Manuel Fernandes Simoes pleaded guilty to failure to properly passage plan in


Euronav in $384m Deal for 4 VLCCs

Photo: Euronav

Euronav has entered into an agreement for the acquisition through resale of four VLCCs which are completing construction at Hyundai Heavy Industries for an aggregate purchase price of $384 million or $96 million per unit. The vessels are due to be delivered as early as September 2015, January


Greece Shipping Earnings Up 9 % in 2014

Greek shipping. Photo by: North Star Marine S.A.

 The Greek economy’s foreign currency revenues from shipping activities expanded 9.04 percent last year from 2013, reaching 13.18 billion euros, in spite of the country's financial woes, according to the annual report of the Association of Greek Shipowners (EEE).  


Kestrel Selects Haven Platform

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  Kestrel Liner Agencies, a pre-eminent ocean freight provider serving the Caribbean, has started offering capacity on the Haven Platform. Haven, the private marketplace for buying and selling ocean freight capacity. The new partnership offers shippers a growing selection of port pairs.


Striking French Ferry Workers Blockade Calais

Striking French ferry workers blockaded the port of Calais on Tuesday morning, disrupting maritime traffic and Eurotunnel's undersea rail link with Britain in protest at restructuring at its MyFerryLink division, port officials said. Shipping halted early in the day


The Hour of the Wolf for Panamaxes - Platts Report

Shipowners operating in the trans-Atlantic dry bulk

Shipowners operating in the trans-Atlantic dry bulk market, where prices have been plumbing two-year lows on the back of acute vessel oversupply and shifting patterns in minerals demand, could be facing brighter days, according to the latest special report released by Platts


3 USCG Cutters Change Command

Saving Lives and Guarding the Coast Since 1790.  The United States Coast Guard -- Proud History. Powerful Future.

  Three Coast Guard cutter crews officially changed commands Thursday during a ceremony in Portsmouth at Sector Hampton Roads. The crews of Coast Guard Cutters Shearwater, Sea Horse and Cochito, 87-foot Coastal Patrol Boats homeported in Hampton Roads






 
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