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
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
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
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
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
Freight for Very Large Crude Carriers (VLCCs) from the Mideast Gulf to the United States has fallen to below $1 per barrel for the first time in over two years. Oslo brokers said on Wednesday that Exxon had fixed the VLCC Agios Nikolaos for a 269,000 ton cargo to the U.S.Gulf in the first week of July at W35 ($0.99 per barrel). Eastbound rates have also followed suit, and fixture lists on Wednesday showed two fixtures at W38: the Napa and the New Vista.
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.
Poly Shield Technologies Inc. announced the launch of its DSOX-15 system. The system, with its new approach to sulfur removal, is expected to enable ship operators to efficiently and economically comply with the new 2015 emission regulations set to take effect in January 2015.
The latest report from Ti, Global Transport and Logistics Financial Analysis 2013, reveals the winners and losers in the global logistics industry over what has been a tempestuous six year period. Analyzing the financial accounts of 20 of the world’s largest publicly quoted express
At the 27th Annual Asian Freight and Supply Chain Awards of Cargonews Asia, Hamburg Süd was awarded the title “Best Green Service Provider - Shipping Line” for the second time after 2012. The award ceremony took place in Beijing on May 9 in front of some 300
SBS Worldwide appointed Mike Barber as General Manager – Manchester. He will help SBS continue building the full range of forwarding and supply chain services it offers in the north of the U.K. Mr. Barber has 40 years’ experience in the forwarding and logistics industry
May 22 is National Maritime Day, an observance to recognize the contributions and sacrifices made by America's Merchant Marine. However, it is also a time to reflect on a growing industry that is facing needs for highly-skilled mariners. The total value of marine freight is estimated to
The company reports its earlier loss significantly reduced in first quarter 2013 financial results. Financial highlights: Freight rate up 4.2% year on year Slight increase in transport volume Revenue growth of 3.1% Loss significantly reduced
ClassNK announced the release of the latest versions of its Rules and Guidance for the Survey and Construction of Steel Ships. These versions include all amendments dated May 17, 2013. Among the amendments made to the Rules and Guidance this time is the establishment of the “Rules for the
The Stifel Logistics Confidence Index continued its downward trend in May as it fell for the second consecutive month. Compiled by Transport Intelligence, the overall index, which combines the current situation with future expectations, was down 0.8 points from April to 50.7 in May and was 1
The Singapore Maritime and Port Authority (MPA) issued a news release stating that four persons are being charged with corrupt practices for conspiring to engage in illegal bunkering activity. A Bunkering Deal Gone Awry The bunkering industry in Singapore is a lucrative business with more
Average global freight rates have fallen to a 15-month low, according to Drewry’s new online Container Freight Rate Insight. Drewry’s Global Freight Rate Index fell 12% in April to reach its lowest level since February 2012, when container shipping was still recovering from the last
Khamis Juma Buamim was selected as Maritime Personality of the Year at the sixth Marine BizTV International Maritime Awards held as part of the ShipTek 2013 International Conference & Expo on Offshore & Marine Industry. He was nominated by Nippon Kaiji Kyokai, (ClassNK)
Hamburg Süd’s performance in brief Following the powerful recovery of the world economy in 2010 and a weaker 2011, global growth continued in the past financial year, albeit at a slower pace. Against this backdrop, container shipments increased once again
Martek Marine said that shipping companies are putting themselves at risk of facing corporate manslaughter charges if they do not carry an adequate number of maintained and certified gas detectors. European Marine Equipment Directive (MED) approval is a legal requirement for equipment aboard EU
Geodis Wilson honored its employees who have shown particular creative prowess as the company announces the winners of its annual Innovation Masters Award recognizing outstanding internal innovative initiatives throughout the logistic service provider’s global network.
Market strategy focuses on delivering innovative supply chain solutions that complement Kuwait’s growing reputation as a major logistics hub. Globe Express Services announced that it has intensified its regional growth plans by providing a full array of innovative supply chain solutions