Marine link

Freight Prices

Finnlines Shares Plunge On Profit Warning

Shares in Finnish shipping company Finnlines plunged on Wednesday after it said 2000 profit would be worse than expected due to tough competition, higher oil prices and strikes hindering business. On Wednesday shares were trading down 12.5 percent at 23.99 euros, under-performing already soft Helsinki shares. In February Finnlines posted a 1999 profit before extraordinary items of 67.3 million euros ($64.46 million) and said the outlook for 2000 was uncertain due to factors such as tighter competition and a drop in import volumes. Finnline’s released statement, reads in part as follows: A strong imbalance exists between exports and imports of unitized cargo in Finland. Since the company has wished to maintain its export service at the level requested by its customers, no measures have so far been taken to reduce cargo capacity. Competition for imported freight has led to unhealthy price levels. The volume of Russian transit traffic has remained low. The continuing high price of oil has raised operating costs significantly and it has been possible to transfer only a small proportion of these costs to freight prices owing to the intense competition. Ongoing industrial actions in Finland have caused substantial harm to the maritime industry and port operations. Sympathy strikes have been held at Finnish ports since March 14, 2000 to expedite negotiations in a dispute involving bus drivers in Tampere

CMA CGM Slowed by Rates, Sees 2016 Recovery

The containership CMA CGM Marco Polo underway (file image)

France's CMA CGM, the world's third-largest container shipping firm, said freight rates should recover next year after a market downturn led to a sharp fall in its third-quarter profits.   The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, hit a new all-time low on Friday, pulled down by a vessel glut and slowing industrial demand from China.   "Freight rates are expected to remain weak in the fourth quarter of 2015

US Grain Shipments via St. Lawrence Seaway Up 63%

The Calumet coming into the Port of Green Bay. Photo supplied by the Port of Green Bay.

American grain shipments through the St. Lawrence Seaway are up 63 percent so far this season as ships transport corn to Canada and soybeans for international export, reports the Chamber of Marine Commerce.   According to figures from the St. Lawrence Seaway, U.S. grain totaled 765,000 metric tons for the period from April 2 through July 31. U.S. Great Lakes ports that receive and export grain through the waterway include Duluth-Superior, Toledo, Milwaukee, Chicago

Marks & Spencer Signs Contract with Drewry

Marks & Spencer joined other multinationals from North America, Asia and Europe which have found in Drewry’s 150 sets of port region-to-port region container freight rates a valuable source of pricing benchmarks to help their transport procurement decisions. Due to the launch of the global container freight rate benchmarks and associated regional and global freight rate indices, Drewry is making the unique, industry-first freight rate data available on-line to subscribers at www

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

Tanker Freight Rates Could Weaken in 2016

Crude tanker utilization (%) (Source: Drewry Maritime Research)

Tanker shipping freight rates are expected to remain firm in the first few months of 2016, but with the influx of tonnage these rates are expected to soften towards the end of the year, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry. Four major factors led to the big leap in tanker earnings in 2015: strong growth in oil trade, sluggish expansion of the fleet, a sharp increase in floating storage and lower bunker prices

Mediterranean/N.American Freight Rate Stagnancy

Image credit APM

Ocean carriers were unable to increase freight rates between the Mediterranean and North America from November to January due to continuing poor vessel utilisation and the approaching threat of P3, according to the latest edition of Drewry's Container Insight Weekly. Westbound According to Drewry’s Container Freight Rate Insight, the average all-in freight rate quoted to forwarders for spot cargo from Genoa to New York remained a poor $1,950/40ft throughout.

Canada Clarke Expanes Freight Management Ops

Canada's Clarke Inc. doubled the size of its freight-management division with the purchase of four U.S.-based companies. Clarke, which has freight transportation and logistics services throughout North America, said it had bought Focus Carriers of Memphis, Tennessee; Kenley Trucking Inc of Atlanta, Georgia; and Creative Logistics of Ripon, California. Purchase prices were not disclosed. - (Reuters)

U.S. Freight Volume Dips: Kemp

File image: Barge fleeting operations on the U.S. inland river system (WCI)

Freight volumes in the United States have fallen year on year for the first time since 2012 and before that the recession of 2009, according to the Bureau of Transportation Statistics. The total volume of freight moved by road, rail, pipeline, inland waterways and as air cargo in November 2015 was 1.1 percent lower than in the corresponding month a year earlier. Freight demand growth has been slowing since the start of last year but the slowdown intensified in the second half and

Hapag-Lloyd Sees Profit Jump in Q1

Photo: Hapag-Lloyd

Hapag-Lloyd generated a profit in the first three months of this year, and concluded the first quarter with a profit of EUR 128.2 million (prior year period: EUR -119.1 million). EBITDA reached EUR 283.6 million (prior year period: EUR 2.9 million) and the underlying EBIT was EUR 160.5 million (prior year period: EUR -63.2 million). The sharp increase in profit was achieved in a challenging market environment, with an average freight rate in the first quarter of USD 1,331/TEU

Container Shipping: Bright Spots Exist -Xeneta

(File photo: Ajithaa Edirimane)

In-depth analysis of Q3 container shipping costs reveals positive trends for the beleaguered container carrier segment, according to Xeneta, a benchmarking and market intelligence platform for containerized ocean freight. However, the market remains highly complex and unpredictable

Capesize Rates Fall to Eight-week Low

Capesize dry bulk vessel Nord Power (File photo: Dennis Schnell, Bulldog and Partners / Dampskibsselskabet NORDEN A/S	)

Freight rates for large capesize dry cargo ships on key Asian routes, which fell to an eight-week low on Wednesday, are likely to continue to slide next week as charterers drip-feed cargoes in an over-tonnaged market, brokers said on Thursday.  

More Casualties Possible in Container Shipping Shakeout -CMA CGM

File photo: Hanjin Shipping

Other container shipping firms may join Hanjin Shipping Co Ltd in receivership before the industry emerges from its current shakeout, the vice chairman of world number three player CMA CGM said on Wednesday. South Korea's Hanjin filed for protection from creditors in late August

Ready for take-off? - Drewry

Tab1e 1 Note 2016 data is up to 20 October only Source Drewry Maritime Research, derived from World Container Index

The recent rally in Asia to Europe spot market rates has improved carriers’ chances of securing higher 2017 contract rates. How much extra will shippers have to fork out? It has been another typically volatile year as far as the spot freight rate market (i.e

Container Shipping Industry Calls for Climate Action

Pic: Business for Social Responsibility

 Members of BSR’s Clean Cargo Working Group (CCWG) have agreed on a climate action statement and call to action for the container shipping sector and its value chain to support private-sector contributions for the global goals on climate change.   

Excess Tonnage Weighs on Asia Dry Bulk-Capesize Rates

File image: a so-called ValeMax bulk carrier (Credit: Vale)

Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes

Moore Stephens: 4th Straight Year of Operating Costs Decline

Richard Greiner (Photo: Moore Stephens)

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average of 2.4% in 2015.   This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction

Container Shipping Market has Bottomed Out

Photo: CMA CGM

Hanjin’s receivership represents the trough of the container shipping market and despite continuing concerns of weak trade growth and fleet oversupply a gradual market recovery is now expected, according to the latest annual Container Forecaster and Review 2016/17 report published by global

VLCC Rates to Hold Firm as Owners Await MidEast Cargoes

File photo: Euronav

Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs this week, are likely to hold firm as owners tread water before the release of further Middle-East and West Africa cargoes, ship brokers said on Friday.  

Freight Futures Market Avoids Tougher EU Information Disclosures

The European Union's securities markets regulator has dropped proposals to make participants in the multi-billion dollar commodity derivatives market for freight rates disclose knowledge of loading conditions, the Baltic Exchange said.  

Syria Makes Major Wheat Deal with Russia

Syria's state grain buying agency Hoboob struck a deal to purchase one million tonnes of Russian wheat from political ally Russia, covering the needs of government-controlled areas for a year. The Damascus government subsidises bread for the areas it controls ensuring the supply of flat loaves

Asia Dry Bulk-Capesize Rates could slide as Tonnage Outweighs Demand

A typical Capesize Bulker (credit: BSM)

Many vessels available for charter put pressure on freight rates. Freight rates for large capesize dry cargo ships on key Asian routes are set to slide next week as the number of ships available for charter outpaced cargo demand, ship brokers said on Thursday.

Hanjin Assets to Go on Sale

Photo: Hanjin Shipping

 The South Korean court overseeing Hanjin Shipping’s receivership process plans to put the collapsed shipper’s Asia-U.S. operations up for sale as early as Friday, says a report in Fortune.   The company said that it is selling major businesses, including its Asia-U.S

147 Vessels Sent to Shipbreaking

Photo: NGO Shipbreaking Platform

 So far this year 147 vessels have been sent to the shipbreakers for their steel to be recycled, Telegraph reported quoting new data from Braemar ACM shows.   A record number of container ships have been scrapped this year as owners battle a perfect storm of vast overcapacity and

Asia Dry Bulk-Capesize Rates to Remain Steady

File Image (Credit BSM)

Owners seeking to push rates higher, close to year-long highs; dry bulk sector to see greater consolidation - BIMCO. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain steady next week even as owners try to push rates up close to year-highs

rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright