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 worlds 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 worlds 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 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
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
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
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
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.
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
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 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
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
With new rules regarding the declaration of the accurate gross mass of a packed containers due to enter force, the International Maritime Organization (IMO) answers the industry’s frequently asked questions (FAQ). What are the new rules?
More coal cargoes, rising oil prices could support rates. Freight rates for large capesize dry cargo ships on key Asian routes are likely to rise next week on an increase in coal cargoes and higher fuel prices, ship brokers said. That comes as Brent crude futures breached the psychologically
Israeli ocean carrier ZIM Integrated Shipping Services Ltd. (ZIM) has sunk to the red in the first quarter of 2016 after staying in the black for almost a year. ZIM swung to a $56 million net loss in the first quarter from a $12 million profit in the previous year and revenue was
Freight rates for shipping containers from ports in Asia to Northern Europe jumped 37 percent to $720 per 20-foot container (TEU) in the week ending on Friday, a person with access to data from the Shanghai Containerized Freight Index told Reuters.
U.K. Transport Minister, Andrew Jones MP visited the Port of Liverpool Monday, May 16 to view the latest developments at Liverpool2 as the terminal approaches its opening. The Minister, who has responsibility for the strategic roads network and ports
Matson Logistics Supply Chain Services is expanding its less-than-container-load (LCL) capabilities by offering direct fast transit from China to the New York and New Jersey markets. The service is based on Matson’s China-Long Beach Express (CLX) service
With ultra-low container rates, multiple operators teetering on the brink of bankruptcy and adversarial relationships developing between those shipping goods and the carriers, Xeneta believes the entire container industry must evolve. The Oslo-based benchmarking and market intelligence platform
In an interview with Patrik Berglund, the Xeneta CEO says that the introduction of the "commodity" status for the container would benefit both shippers and carriers. Q- In today’s world of Amazon, Alibaba and E-commerce
Under the theme ‘Safe for you, Safe for me’, APM Terminals Inland Services, South Asia celebrated Global Safety Day on 28 th April with emphasis on raising awareness on the importance of risk management among employees, contractors and external stakeholders.
Container shipping firms' annual costs have risen by a total $500 million due to new sulphur emissions regulations that have forced vessels to use higher cost fuel, the OECD said in a report on Thursday. Rising fuel costs will further hurt an industry already stung by overcapacity
Hamburg Süd, one of the 10 largest shipping lines worldwide, and INTTRA, the world's ocean shipping electronic marketplace, have expanded their partnership to address the July 1 implementation of the International Maritime Organization's Safety of Life at Sea (SOLAS) Verified Gross Mass (VGM)
France's CMA CGM, the world's third-largest container shipping firm, reported a first-quarter net loss on Friday and targeted $1 billion in cost cuts to keep operating margins positive during the current market downturn. Weak freight rates in the past year have left many lines operating
Less domestic petrochemical consumption of LPG would be positive for VLGC shipping as it would result in a greater surplus of LPG available for export. However, it is still unclear whether this dedicated-feedstock ethylene (five new ethylene plants
50 years after the beginning of modern container shipping in Germany, international trade is handled by 6,397 containerships, with a capacity of 21.1 million TEU. Hapag-Lloyd’s container fleet numbers among the largest in the industry.
CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China, the French group said. CMA CGM received on Wednesday confirmation of the deal's approval by the