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Freight Containers

COA Appoint Panocean V-P to Board

The Container Owners Association (COA) appoints O. I. Kwon, Senior V-P, Container Business Management Division, STX Panocean, to its Board. The Container Owners Association (COA) was established in November 2004 as an international organisation representing the common interests of all owners of freight containers, worldwide. It has over 165 Members, including container shipping lines, leasing companies, intermodal operators and suppliers of a wide range of container equipment and services. Mr Kwon joins six other Directors, who represent some of the world’s largest container owners, on the Board of the Container Owners Association. "“It is a great honour – both for me personally, and for my company STX Panocean - to join the COA Board,”" Mr Kwon said. “"This position carries considerable responsibility and I will do my best to promote the COA in Asia and to support the wide range of initiatives that the COA is working on." The COA Board comprises senior representatives from some of the world’s largest container shipping lines and leasing companies, including: Maersk Line, CMA-CGM, United Arab Shipping Company, STX Panocean, Seaco Global, Triton Container and Florens Container Services.   Its newly appointed Chairman is Michael Callus, Vice-President, Container Management, at UASC.


Crowley Adds Vastly to its Fleet Cargo-Handling Equipment

New Shipping Containers: Photo credit Crowley

Crowley Maritime Corporation’s liner services group is adding more than 3,000 pieces of cargo handling equipment to its diverse fleet. The additional resources will allow the company to better meet increasing customer demand throughout Puerto Rico, the Caribbean and Latin America service areas. The equipment  includes 200 53-foot (102-inch wide) dry containers, 200 45-foot (102-inch wide) dry containers, 500 20-foot dry containers, 1,000 40-foot dry high-cube containers


ITCO Promotes Safe, Green Tank Containers

The International Tank Container Organisation (ITCO) will unveil a new tranche of industry knowledge on intermodal tank containers in three specialist presentations to be made at the Transport Logistic 2009 event in Munich on 12-15 May 2009. Two of the papers highlight recent studies which bring together a wide range of established knowledge to explain why tank containers are the safest, most reliable and efficient means of transporting bulk liquids, powders and gases


BWTS in a Box Fits in Cargo Hold

BWTS Box Technology: Image credit MHI

New ClassNK-approved container-type Ballast Water Treatment System (BWTS) installation technology. Mitsubishi Heavy Industries, Ltd. (MHI), working jointly with Mitsui O.S.K. Lines, Ltd. (MOL), has developed installation technology of a ballast water treatment system (BWTS) enclosed in a standard-size freight container for installation in the hold of container ships. The new technology will significantly reduce BWTS retrofitting turnaround time in comparison to engine-room BWTS installation


Following the Path of the Transport Revolution

Photo credit: Captain Katharine Sweeney

TT Club, established to fill a gap in insurance as the freight container revolutionized trade, celebrates 45 years dedicated service to the transport and logistics sector. In 1956, the first strengthened containers were loaded onto a spar deck of the converted tanker, Ideal X. This marked the fulfilment of a dream for American trucker Malcom McLean who had, since 1937, been working on how to reduce the long waiting hours for dockers to stow or unload his vehicles onto or off ships


Calais Crisis Presents Liability Issues, TT Club Warns

As the political and humanitarian situation in Calais continues to unfold, the specialist freight transport insurer, TT Club provides a perspective on the implications for the freight and haulage industry and steps which operators can take to avoid heavy penalties from being caught carrying illegal immigrants. While focused on the current situation in Calais, the precautionary measures recommended are generally relevant.  


First Electronic Container Freight Swap Settled in USD

Saxo Bank and ICAP Shipping Involved in World's First Electronic Container Freight Swap Settled in USD.   Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were involved in the execution of the world's first electronic, voice-assisted trade of a container freight swap agreement settled in US dollars. The counterparties to the trade were Saxo Bank in Denmark as the buyer and a Netherlands-based trading house


Index-Linked Container Contracts Take-Off

Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks.   Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts, according to the US Federal Maritime Commission (FMC). The agency also indicated that uptake of index-linked container contracts on US trades was fast growing


Asia to Northern Europe Shipping Rates Jump 177%

Photo by Maersk Line

 Asia to Northern Europe shipping freight rates for transporting containers jumped by 177.3 percent to $1.109 per 20-foot container (TEU) in the week ended on Friday, reports Reuters, quoting data from the Shanghai Shipping Exchange.   As all major container shipping lines implemented a price hike announced earlier, the  freight rates rose nearly three-fold.   Freight rates on the world’s busiest shipping route have tanked this year due to overcapacity in


Asia-Europe Box Rates Slip 10 pct Last Week

A Maersk containership loading at berth (File image)

Freight rates for shipping containers from Asia to northern Europe fell 10 percent to $233 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the fifth consecutive week of falling freight rates on the world's busiest route. Rates are at their lowest since June 19, and widely seen as at loss-making levels. Rates dropped 20 percent from Asia to ports in the Mediterranean


Asia Dry Bulk-Capesize Rates Could Rise in Short Term

File Image: a so-called ValeMax bulk carrier, commonly used in th Brazil-Asian trades (credit: Vale)

Shipowners seeking $10 per tonne from Brazil-China; dry cargo demand to remain subdued this year. Freight rates for large capesize dry cargo ships on key Asian routes may firm up next week on increased chartering activity, tighter tonnage supply and possible port disruption caused by bad


Crowley Adds Houston-Caribbean LCL Service

Photo: Crowley Maritime

Starting July 1, Crowley Maritime Corporation will offer weekly, fixed-day, less-than-container-load (LCL) shipping services from Houston to 33 port destinations throughout the Caribbean Basin, the shipper announced today.   The new logistics service is designed to enhance supply chain


Maersk's New CEO Appointment Raises Prospect of Break-up

Soren Skou (Photo: Maersk Line)

Danish shipping and oil group A. P. Moller-Maersk could split up into separate companies, its chairman said on Thursday after naming Soren Skou, the head of its container business, as chief executive.   Maersk shares rose more than 10 percent on the news with investors betting on a break-up


Freightgate Announces SOLAS VGM Compliance Solution

Image: Freightgate Inc

 Freightgate Inc announced an easy to use, integrated (SSO enabled) solution for International Shippers around the world to comply with the new IMO Requirement to certify VGM (Verified Gross Mass).    The new solution includes a plug-in that let’s you connect directly from


Hong Kong Mulls Maritime Cooperation with Iran

Image: Port of Hong Kong

 Closer business ties with Iran would enable Hong Kong  to tackle the downturn in the seaborne sector, reports Tasnim quoting Stephen Wong of Hong Kong Trade Development Council (HKTDC).   "Hong Kong's crucial shipping trade is hoping China's overseas infrastructure plan and


East-West Shippers see Acceleration in Container Contract Rate Cuts - Drewry

Photo AFP

Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates


East-West Shippers See Acceleration in Container Contract Rate Cuts

Image: Drewry

 Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight


Kapellskär Port All set to Receive Biggest Vessel

A new 245 metre-long pier has now been completed and is ready to handle the vessels and freight volumes of the future Photo Port of Kapellskär

The Port of Kapellskär, Sweden, is being rebuilt to be able to accommodate larger vessels and meet market demands for current and future freight volumes. Now that the new 245 metre-long pier is completed, the port has two new modern quay-berths


Maersk Line Seeks to Raise Asia-Europe Freight Rate

Photo: Maersk Line

Maersk Line, the world's largest container shipping company, told its clients on Tuesday it will set the freight rate from Far East Asia to Europe at $1,450 per 20-foot container (TEU) as of July 1.   The announced increase, which applies to all kinds of freight


PSA Singapore Named Best Seaport in Asia

Pic: PSA Singapore

 Port operator PSA International was named the best global container terminal operating firm for the second year running, in the 2016 Asian Freight, Logistics & Supply Chain Awards held in Shanghai.   PSA also received the “Best Container Terminal – Asia (Over 4 million


Asia Dry Bulk, Capesize Rates Set to Diverge

File Image: a so-called ValeMax bulk vessel, commonly used to move bulk from Brazil to Asian markets (Vale)

Rates from Australia to fall, Brazil rates to nudge higher. Freight rates for large capesize dry cargo ships on key Asian routes could diverge next week with rates from Australia to China trending lower on weaker sentiment while prices from Brazil to China could rise on tight vessel supply


Asia-N.Europe Box Rates Plunge

File Image: Trelleborg

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17.8 percent to $540 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.


Shippers Don’t Expect Volume Uplift: Drewry

Photo: Maersk Line Official FB Page

 Shippers tell Drewry survey they don’t expect much of a volume uplift in the third-quarter peak season.   Nearly half of the 51 shippers who responded to our survey said that they expect volumes for the third-quarter peak season to be the same as they were last year


Recovering Freight Rates Pose Risks for Shippers

File photo: Chamendra Wimalasena

According to Xeneta’s global database of over 12 million contracted ocean freight rates, the containership market is staging a small recovery, with short-term rates rising, suggesting long-term costs could soon follow suit. This may be positive news for carriers


Negative Outlook for Global Shipping Industry: Moody’s

Photo: Global Shippers Association (GSA)

 Moody's Japan K.K. says that its outlook for the global shipping industry over the next 12-18 months is negative.   "The negative outlook reflects our expectation that earnings will worsen, with freight rates likely to remain depressed amid ample supply," says Mariko Semetko






 
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