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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


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


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


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


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)


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.


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


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


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


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


Slowing Shipping Fleet Growth to Ease Officer Shortage

Graph: Drewry Shipping Consultants Limited

 Slowing growth in the size of the shipping fleet will reduce the shortage of officers over the coming years, according to the latest Manning report published by global shipping consultancy Drewry.   The global shipping fleet – encompassing all sectors except the non-cargo


Asia Tankers-VLCC Rates to Climb Slowly

File image: a so-called SuezMax oil tanker (Suez Canal Authority)

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers (VLCCs) are set to nudge higher next week after moving above nine-month lows on increased charters this week, ship brokers said on Friday


Sovcomflot Revises Pricing on USD 7-year Bond

Russian shipping company Sovcomflot has cut the yield on its seven-year U.S. dollar bond to 5.375 percent - 5.5 percent, according to a lead.   The notes will price within that range. The latest level compares with guidance of 5.625 percent area and initial price thoughts of 5


Japan LNG Prices Fall to Lowest in More Than 2 Years

Prices for liquefied natural gas (LNG) spot cargoes for Japan, the world's top buyer, fell in May to the lowest since the trade ministry started publishing figures more than two years ago, official data showed on Thursday.   The average price of spot LNG contracted in May fell by 10 cents


Indiana Ranks Top 10 for 109 Logistics Categories

2016 Indiana Logistics Directory Cover Photo Indiana Ports

The newly released 2016 Indiana Logistics Directory reports that Indiana ranks high nationally in its ability to move freight via truck, rail, water and air. The state is ranked in the top five states in more than 25 logistics-related categories and in the top 10 in 109


Onshore Shale: Worth Keeping In The Shipping Spotlight

Graph: Clarksons Research

 Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and freight rates performing.    But occasionally it can be worth pointing the telescope in the other direction


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


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.


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






 
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