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.
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 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
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 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
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
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.
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
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
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
Brazilian miner Vale has completed the sale of four other large iron ore carriers to China Ocean Shipping Company (Cosco), which was agreed last September. This transaction is related to the agreement signed with Cosco on September 12, 2014.
Port of Antwerp has launched breakbulk application for more efficient freight handling. Antwerp has long been the breakbulk port par excellence in Europe. This status finds expression each day anew in a flexible range of high-quality services tailored to the requirements of the customer
Capesize rates slide after hitting 5-month high. Rates for capesize bulk carriers eased this week after hitting their highest since December, and could come under pressure next week if charterers hold back cargoes, ship brokers said. "So far, I can't see too much cargo in the market
Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility in the market as vessel operators continue to wrestle with overcapacity. Rates for transporting containers from Asia to Northern Europe
Canada to Northern Europe connection sails May 22 Global non-vessel operating common carrier (NVOCC) and ocean freight consolidator CaroTrans today announced a new weekly less than container load (LCL) service from Montreal to Le Havre, France. This direct service has a 14 day transit.
German container line Hapag-Lloyd has defied the challenging market environment in the containership market and returned to profit in the first quarter of 2015 euros as a stronger dollar and lower bunker prices helped to offset weaker freight rates.
Rates for capesize bulk carriers, which climbed to their highest since at least January on Wednesday, are likely to remain steady next week on tighter tonnage supply, ship brokers said. That comes as charterers could hold back cargoes to cool this week's rise in freight rates
A federal grand jury in Mobile, Alabama, has returned a seven-count indictment charging Det Stavangerske Dampskibsselskab AS (DSD Shipping) and four employees with violating the Act to Prevent Pollution from Ships (APPS), conspiracy, obstruction of justice and witness tampering
Crude oil tanker market sentiment weakened in April as average spot freight rates dropped on most reported routes, OPEC said in its latest monthly report. On average, dirty tanker freight rates were down 8% from the month before
Despite a modest recovery in earnings anticipated over the next two years, the dry bulk shipping market is not expected to return to profitability until 2017, says the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 23.6 percent to $658 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. The drop in freight rates on the world's busiest shipping
Billing Platform announced that it will support South Carolina Ports Authority (SCPA) by providing a cloud application that streamlines and modernizes billing operations to promote efficient revenue recognition in a dynamic and evolving environment.
The world’s first electrical car and passenger ferry powered by batteries has entered service in Norway, representing a milestone on the road to operating emission-free ferries along Norway’s coastline, with at least 50 other routes currently able to sustain battery-operated vessels.
Shipping company Maersk Line, owned by A.P. Moller-Maersk, plans to increase freight rates for transporting containers from Asia to Northern Europe by $800 per 20-foot equivalent unit (TEU) from June 1, it said on Tuesday. With a fleet of more than 600 vessels
Two smugglers arrested over the deaths of hundreds drowned in the Mediterranean's most deadly shipwreck in decades will not be charged with kidnapping because assertions that migrants had been locked below deck had proved wrong, an Italian prosecutor said on Tuesday.