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Freight Cost

Malaysia Mulls Second Shipping Line

Malaysia reportedly may set up a second national shipping line to help reduce freight charges between the peninsula and the states of Sabah and Sarawak on Borneo island, as traders in the two east Malaysian states had complained about high freight costs. "The proposal has come from the Ministry and the Cabinet is actively studying it," an official said. Malaysia International Shipping Corp., controlled by state oil firm Petronas, is currently the country's sole national shipper.


Caribbean Upcoast Trade Experiences Downturn

Shipping's most volatile market, the Caribbean upcoast trade, has plummeted in the last few days to levels not seen since last November and freight costs are now less than half of what they were just two weeks ago, brokers said on Tuesday. But they were also quick to point out that this was merely a normal part of the yearly cycle as refinery turnarounds start to bite into the supply-demand balance. "Every April for the last three years the Aframax (70


Freight Rates To Fly High In Coming Years

The U.S. will become more dependent on tanker-borne petroleum imports in coming years, coinciding with a ship shortage which will push freight costs sharply higher, energy and tanker analysts said on Wednesday. "Products imports are playing a bigger swing role in the U.S. than ever before," Paul Horsnell of Oxford Institute of Energy Studies said. "They're becoming a structural feature of the U.S. system." Horsnell told members of the tanker owners' organization Intertanko


Single Hull Tanker Ban Could Send Freight Rates Soaring

When OPA 90 was introduced in wake of the Valdez accident, the stipulation that tankers trading in the U.S. must be double hulled was roundly panned throughout the world, as industry experts bemoaned the fact that one country have such a deciding impact on vessel design. How soon they forget. Ten years and a few tragic sinkings off European shores have let to Italy's sudden plan to ban single-hulled tankers from seven key port areas


Submarines As Ore Carriers?

Russia'sNorilsk Nickel - a big metal producer -- has finished a feasibility study of a project to use nuclear submarines for ore shipments, which once started will cost $80 million, Norilsk's chairman said. "The feasibility study has been prepared and now the board of directors has to approve spending of up to $80 million for its implementation," Yuri Kotlyar said. "But even then the decommissioning of the submarines should be sanctioned by the state."


Sherborne Sensors New North American Ops

Sherborne Sensors Limited announced the establishment of Sherborne Sensors, Inc., a fully dedicated sales, marketing, logistics and support entity, now serving a growing number of customers throughout the United States, Canada and Mexico. From its offices in Mahwah (Bergen County), N.J., USA, Sherborne Sensors, Inc., is providing a number of enhanced local service offerings, including reduced product lead times and freight costs; real-time order fulfillment and applications engineering


Shipping Lines Estimate Costs to Rise

Bloomberg reported that Neptune Orient Lines Ltd. and 11 of the largest shipping companies plying the Pacific Ocean said costs of moving cargo to the U.S. in 2006 will rise 7 percent on higher fuel prices, which may spur them to raise freight rates. The cost of transporting containers by trucks and railways will increase as much as 25 percent, the 12-line Transpacific Stabilization Agreement, whose members ship about 70 percent of trans-Pacific trade, said in a statement today.


MarAd Launches Transportation Freight Financing Program Website

The Maritime Administration (MarAd,) with the Export-Import Bank, has developed a program to provide added incentives for the commercial public to ship their United States export cargo on U.S.-flag vessels. Under this program, the Ex-Im Bank provides guaranteed working capital loans for transportation-related cost associated with the export move that is carried on a U.S.-flag vessel. Such transportation costs could include ocean freight, marine insurance, export packing, trucking


AAPA Expresses Concern Over Stalled Contract

AAPA.jpg

 The American Association of Port Authorities today sent a strong message to Congressional Senate, House and Committee leaders, urging them to "take swift action" to avert a rail strike on Dec. 6, which would lead to a discontinuation of freight rail service, potentially costing American businesses and consumers $2 billion a day.   "Railroads are a vital component of the freight transportation system and are critical to international trade and goods movement


NOL Group: $254m 1Q Loss

Ng Yat Chung

High fuel costs, low freight rates conspire to create tough 1Q NOL Group, the Singapore-based container shipping and logistics company, reported a first quarter 2012 net loss of 254 million compared to a net loss of $10 million in the same period last year.  NOL said high fuel costs and low freight rates in container shipping affected first quarter 2012 performance.   NOL said that in the first quarter of 2012 it achieved about $100 million of cost savings under its ongoing


Asia-Europe Container Shipping Rate Falls 5.5%

Container ships bow: Photo courtesy of APL

Reportedly, shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 5.5 percent to $1,230 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.


Maersk Aims to Raise Aisia-Europe Freight Rates

Photo: Maersk

The world's biggest container shipping company Maersk Line, a unit of A.P. Moller-Maersk, said it planned to raise freight rates on routes from Asia to northern Europe by $450 per 20-foot container (TEU). The new rates will take effect from Aug. 1, the company told Reuters in an email on Friday


Greenbrier Condoles the Passing of Emeritus Board Member Atiyeh

Victor G. (“Vic”) Atiyeh: Photo courtesy of Greenbrier

The Greenbrier Companies, Inc. says it joins all of Oregon in expressing its condolences to the family of Victor G. (“Vic”) Atiyeh, former Governor and past member of Greenbrier’s board of directors. Atiyeh died late Sunday at the age of 91


Nation’s Vessel Operators Join EPA as SmartWay Affiliate

Tom Allegretti, AWO President & CEO

The American Waterways Operators, a 350-member trade association representing the U.S. tugboat, towboat and barge industry, announced today that it joined the SmartWay Transport Partnership, an innovative collaboration between the U.S. Environmental Protection Agency and stakeholders in the


Baltic Exchange Appoint Guy Campbell Chairman

Guy Campbell: Photo credit Navigate PR

Guy Campbell of the China Navigation Company has been appointed by the Baltic Exchange Board of Directors as Chairman for a two year term of office. He replaces Quentin Soanes who served as Chairman from 2012. Welcoming the appointment, Baltic Exchange Chief Executive Jeremy Penn said:


High Shipping Costs Deter Buyers of W. Africa Crude

Nigerian crude oil differentials held at two-year lows on Monday as demand remained subdued, partly due to high shipping costs from West Africa to Europe. Nearly half of the loading program for August, which originally had 65 cargos, was unsold on Monday


Pan Ocean Orders OCTOPUS-Onboard for Heavy Lift Vessels

MV Sun Shine-vrij te gebruiken2.JPG

The Korean based global shipping company Pan Ocean, has ordered OCTOPUS-Onboard system from Amarcon for two semi-submersible heavy lift vessels. The state-of-the-art ship monitoring and advisory system will support the vessels’ route planning, optimization of speed


Port of Antwerp Maintains Growth Trend

Antwerp port

  The port of Antwerp handled 98,229,046 tonnes of freight in the first six months of 2014. That is 2.7% more than in the same period last year, itself already a record year. Container freight once more contributed good growth figures, while liquid bulk too continued the upward trend.


PayCargo Re-introduces its Logistics Credit Program

PayCargo logo

Provider of electronic invoicing and settlement solutions for the shipping industry, PayCargo, LLC, says it has brought back its highly successful PayCargo Credit Program. PayCargo provides a global, online freight payment system that allows shippers


Trans-pacific Container Shipping Group Aims for Rise in Rates

Photo: CMA CGM

Container shipping companies were urged to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) with effect from Aug. 1, their organisation TSA said on Wednesday. Members of the TSA (Transpacific Stabilization Agreement) include 15 of the world's biggest container shipping


China Seeks to Build Shipping Railways in Brazil

Brazil hopes that during a visit by Chinese President Xi Jinping it can boost ties with its biggest trade partner beyond the exchange of commodities for manufactured goods, but that may be wishful thinking. Accords China will sign with Brazil when Xi meets with President Dilma Rousseff on


Asia-Pacific Container Shipping Rate Hike on the Cards

Container ship: Photo APL

Container shipping companies were urged to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) with effect from Aug. 1, their organisation TSA said on Wednesday. Members of the TSA (Transpacific Stabilization Agreement) include 15 of the world's biggest container shipping


Strikes Halt Grains Exports from Rosario Hub

Multiple strikes paralyzed all grains exports from Argentina's pivotal Rosario export hub on Thursday, the president of the Rosario port chamber said. "All work is at a standstill. Vessels cannot be loaded or unloaded, nor trucks, nor freight trains


China, Brazil Close Plane, Finance, Infrastructure Deals

China and Brazil sealed their expanding commercial partnership on Thursday with a $5 billion credit line for Brazilian miner Vale and the purchase of 60 passenger jets from Brazilian planemaker Embraer. In a raft of energy, finance and industry accords signed before presidents Xi Jinping and


APL Voted Best Trans-Pacific Shipping Line

Credit : APL

  APL today won the Best Trans-Pacific Shipping Line accolade at the 28th Asian Freight & Supply Chain Awards (AFSCAs). This is the third time in four years that APL has emerged as the preferred liner in this category, following wins in 2011 and 2012.






 
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