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Freight Rates

World Container Index (WCI) to launch in September

Drewry Shipping Consultants and The Cleartrade Exchange announced that the World Container Index (WCI), the first Europe-based assessment of container freight rates and index production, is scheduled for launch in September 2011. The index will be designed to provide a new and important facility for the global market to hedge their freight rate risk and see major improvements in forward price discovery through the container derivatives market. Significantly, the new index will be the first of its kind to report weekly freight rates on backhaul as well as headhaul routes and will provide increased efficiencies in hedging strategies for freight users dealing in bulk, commoditised and recovered cargoes. During July and August the index will  be made available to a small number of lead organisations for final testing and feedback prior to launch for trading on 1st September, 2011. Contracts will be available with at least one clearing house at or soon after the launch date and subscriptions to the index will be available from 22nd August, 2011. The WCI reports agreed spot container freight rates for major East West trade routes and consists of 11 route-specific indices representing individual shipping routes and a composite index. Route Assessments The WCI has also confirmed that it will collect and publish weekly market assessments for the following routes:


Asia-Europe Container Rates Fall Almost 11 pct

Containership_Marad.jpg

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 10.7 percent to $1,198 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. It was the second consecutive week of falling freight rates on the world's busiest route. Container freight rates have so far increased in 10 weeks this year but fallen in 23 weeks.


Lack of Committed Charters Cause of MOL's Losses

In his New Year message, Mitsui O.S.K. Lines President Muto predicts loss in 2013 of same magnitude as last year, suggests new business model. Excerpts from Mr. Muto's message follow: "The marine transport industry has faced a challenging external environment mainly due to economic slowdowns in Europe, the U.S. and China, the yen's appreciation, and high bunker fuel prices. This has certainly been a factor behind MOL's losses


Freight Rate Trends: Upcoming Free Supply Chain Webinar

Image courtesy of Drewry

Drewry Maritime Research says it is hosting a free webinar for supply chain professionals to explain recent trends in ocean & air freight rates and provide an outlook for the future. The webinar presentation will examine and explain: Recent ocean & air freight rate trends on Global trades Economic drivers Drewry's outlook for freight rates The event will be hosted by Simon Heaney, Senior Manager, and Philip Damas


Asia-Europe Container Rates at One-Year Low

Container freight rates fell 10.2 percent on busy route; Maersk expects gradually declining rates. Freight rates for shipping containers from ports in Asia to Northern Europe fell 10.2 percent to $738 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 fourth consecutive week of falling freight rates on the world's busiest route and the rate is the lowest since Oct. 25 last year


Suezmax Tankers Bullish

 Suezmax: By Palmali Group of Companies

Global fixture activity for suezmax crude tankers rose in the first quarter by 5% year on year, with most of the activity coming out of West Africa.   Suezmax fixtures out of the Caribbean rose by 48%, most of which headed to the US Gulf and East coast Panama.   During the first quarter 2015, there was a 45% rise in suezmax fixtures from the Middle East Gulf (MEG) to West Coast India, compared to the same period last year


Guide to Index-Linked Container Contracts Launched

Drewry and the World Container Index have published a White Paper that explains how index-linked contracts work, the first definitive guide on the subject since widespread adoption commenced two years ago. The White Paper, which is FREE to download from Drewry’s web site, examines the causes of recent container freight rate volatility and how index-linked contracts can help mitigate the impacts of such instability


Hapag-Lloyd Reports Another Quarter of Net Profits

Hapag-Lloyd Berlin Express

Following on from the second quarter, Hapag-Lloyd once again generated a profit in the third quarter of the current financial year, primarily as a result of substantial cost reductions. Between July and September 2013, the group recorded a profit of €16.6 million, despite freight rates that continued to deteriorate. The average freight rate in the third quarter was $1,476/TEU, which was well below the previous year’s figure of $1,647/TEU


Asia-Europe Box Rates Drop 10 pct

File Photo: containership at dock

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 10.4 percent to $1,175 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. The fall came after last week's jump of 88 percent on the world's busiest route. Container freight rates have so far increased in 12 weeks this year but fallen in 32 weeks.


Transpacific Container Shippers Plan Price Rise

File photo: containership at dock.

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned increase was part of an ongoing effort by members to reverse a decline in spot rates in the Asia-U.S. freight market. The organisation also said container shipping companies should reinstate a $400 per


Hamburg Süd Hit by Slowdown

Pic: Hamburg Süd

 The Hamburg-headquartered shipping line Hamburg Süd was hit by the economic downturn on the carrier's key markets in Brazil, Argentina and Venezuela.   The modest 2 percent increase in cargo volumes is attributed to the less-than-expected improvement to the market overcapacity


Asia Tankers-VLCC Rates Soar

Middle East VLCC rates hit $69,500 a day; daily VLCC rates average $51,000, highest since 2008 (Clarkson). Rates for very large crude carriers (VLCCs) on a key Asian route jumped to a three-month top this week, but prices are likely to soften as charterers hold back cargoes amid a slight


CMES Q1 Profit Surges on Strong VLCC Earnings

Pic: China Merchants Energy Shipping

 China Merchants Energy Shipping has posted 22.6% on-year growth in net profit to Yuan225m ($36.3m) during the first quarter ended 31 March 2015 due to buoyant tanker markets.   Revenue for the quarter more than doubled to RMB1.36bn from YuanB660.44m a year ago.  


Asia-N.Europe Box Rates at New Low

File image: containership loading in port.

Freight rates for the shipping of containers from Asia to Northern Europe fell by 1.7 percent to a record low $343 per 20-foot container (TEU) in the week ended Thursday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.


Asia VLCC Rates: Ample Tonnage, Few Cargoes

Owners resist charterers moves to force rates under W50; West Africa cargo volumes remain steady. Rates for very large crude carriers (VLCCs) on key Asian routes will face further pressure next week even as owners resist attempts to push rates lower, brokers said.


Maersk Predicts Container Traffic Demand Growth

Pic: Maersk Line

 As freight rates are expected to continue to decline due to oversupply, the container shipping demand is expected to grow 3-5% this year, according to Lars Mikael Jensen, chief executive of Asia Pacific region at Maersk Line.   He said supply growth as ships ordered several years ago


Asia-Europe Box Rates Fall Almost 6 pct

File image: a Maersk Line Box ship.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 5.5 percent to $586 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.


CMA CGM to Add Ships, Pursue More Economies

Containership CMA CGM Marco Polo.JPG

CMA CGM, the world's third-largest container shipper, announced on Monday plans to order three giant vessels and said higher volumes and profit last year showed its focus on economies of scale was bearing fruit. Like market leader Maersk Line


Tanker Backlog Builds at Basra

Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE, April 1 (Reuters) - A backlog of over 30 oil tankers has built up outside the Iraqi port of Basra and shippers face


Box Ship Freight Rates Fall on Declining Chinese Exports

Container freight index

  Since February, freight rates on the three key container shipping lanes has left the erratic up and down movements behind only to slide week after week. On Friday April 10, 2015 the freight rate including ocean freight and surcharges, i.e


Container Rates Fall on Declining Chinese Exports

bimco containership.jpg

Since February, freight rates on the three key container shipping lanes has left the erratic up and down movements behind only to slide week after week. On Friday April 10, 2015 the freight rate including ocean freight and surcharges, i.e


Box Ship Oversupply Stoking Trouble

Source: Drewrys Container Forecaster

Despite positive growth momentum, the container shipping industry continues to suffer new, big ship deliveries with no let-up to the ordering frenzy according to the Container Forecaster, published by Drewry Maritime Research.   Drewry forecasts another year of excess growth in relation to


Liner Service Reliability Jumps to 64%

Pic: Maersk Line

 According to Drewry Supply Chain Advisors, liner shipping service reliability on the three East-West trades showed an aggregate on-time performance of 64% in March - a five-month high.   According to Carrier Performance Insight, the online schedule reliability tool provided by Drewry


Stena Bulk Charters Out LNG Carrier

Photo courtesy of Stena Bulk

Stena Bulk has signed an agreement covering the charter of the LNG carrier Stena Blue Sky for the North West Shelf Project in Australia. The duration of the charter is up to three years with a possible further extension as a goal. The contract was signed at current market freight rates


Cheaper Fuel to Boost Container Shipping

Photo: Tanner Matheny

Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel tumbles. Container shipping companies deal with the volatility in fuel prices by adding a separate bunker adjustment factor or fuel surcharge to their






 
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