Since rates are at an unsustainable level in the transatlantic trade, Maersk Line announced a general rate increase effective 1 September 2009. The company said the rate increase is necessary to continue to operate its services with the same level of reliability. The filed increase is as follows: • $400 per 20 ft container • $500 per 40 ft/high cube/45 ft container The increases apply equally to all Eastbound and Westbound cargo moving between the US & Canada and Northern Europe.
MOL (Mitsui OSK Line) said it plans a general rate increase for all cargo moving southbound from Europe North Continent and Mediterranean to West Africa. The new rate of $219.4 per TEU will become effective 15 October 2009. The GRI is applicable to all commodities and equipment, including reefer containers. (www.MOLpower.com)
As a result of market instability in the transatlantic trade, Maersk Line is announcing the following general rate increase, effective 1 April 2009. The filed increases are as follows between Northern Europe and the East Coast and Gulf Coast of North America: • $160 per 20 ft dry container • $220 per 40 ft container/high cube/45 ft container/reefer The filed increases are as follows between Northern Europe and the West Coast of North
Do we sense a touch of desperation from the executive corridors of Maersk Line as the Triple-E delivery dates approach? Maersk Line boss Nils Smedegaard Andersen was in a confident mood after his carrier posted a decent $204 million profit in the first quarter. Making a profit when Asia-Europe is a disaster and many other carriers are wallowing in red ink is impressive enough, but the Maersk CEO raised eyebrows when he addressed the rates issue.
General Atomics, Kongsberg Maritime and C & C Technologies have agreed to cooperate on the development of Autonomous Underwater Vehicles (AUVs) and associated technologies. Kongsberg Maritime, manufacturer of advanced hydroacoustic instruments, the HUGIN family of AUVs and other maritime electronic products, has signed a cooperative agreement with General Atomics and C&C Technologies via its affiliate, Kongsberg Underwater Technology Inc, located in Lynnwood, Wash
Middle Eastern clean product tanker rates slipped as cargoes for some ship sizes became scarce as a result of the Kuwaiti refinery outage, brokers said on Friday, but in general markets remained strong, they added. Vessels were starting to become available in prompt positions, broker E.A. Gibson said in a report, and rates for 35,000 tons to the Far East slipped to W295. Short-haul cargoes were apparently scarce as a knock-on effect from the Kuwait refinery fire last week, Gibson said.
A record low accident rate and a command-wide emphasis on safety helped the USACE earn the 1998 Chief of Staff of Army's Major Army Command (MACOM) Safety Award. USACE, one of only two commands to earn the 1998 award, has earned it three of the past four years. The award recognizes the continued improvement of the USACE safety record in FY 98. In FY 98, there were no accidental federal employee fatalities during normal duty hours, and only 470 lost-time injuries and illnesses
The London P&I Club has set a general increase of 12.5 per cent in annual P&I call rates for the 2013/2014 policy year. Commenting on the background to the decision, Ian Gooch, chief executive of the Club’s management team, says, “Claims in the Club’s retention layer for the current policy year show some encouraging signs, especially at the attritional level, where increased deductibles seem to be playing a part
The Maritime & Coastguard Agency (MCA) announced that 10 foreign ships were under detention in UK ports during February2004 after failing Port State Control safety inspection. Latest monthly figures show that 4 foreign ships were detained in UK ports during February 2004 along with 6 other ships still under detention from previous months. The overall rate of detentions compared with inspections carried out over the last 12 months is 6.0% which is a decrease of 0
General Maritime Corporation has agreed to acquire 19 tankers, including 14 Suezmax and 5 Aframax vessels from Metrostar Management Corporation, a Greek tanker operator. The acquisition of the vessels is expected to commence on March 1, and to be concluded by April 30, 2003 during which time the vessels will be integrated into General Maritime's fleet operations. The acquisition of the tankers will be made for cash and is subject to the customary conditions of delivery
To better serve customers making smaller shipments to Puerto Rico, the Caribbean, and Central America from the U.S. Midwest, Crowley Maritime Corporation’s logistics group is launching a new weekly less-than-container load (LCL) service from Chicago today
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens.
Ocean carriers’ plans to get rid of surplus 8,000 teu vessels by dumping them into the Asia – East Coast of S. America tradelane appears to have seriously backfired. The recent launching of MSC’s new Ipanema service in the middle of April
Coastal Fast Rescue Vessel “BEI HAI JIU 203” has been delivered by China's Afai Southern Shipyard. The new vessel is for operation by Beihai Rescue Bureau, and its details were not disclosed. Mr. Yang Xiaoren, the Deputy Director General of China Rescue & Salvage Bureau of
The Baltic Exchange advises panellists that with the prevalence of 'slow steaming' they should assume that if steaming at 12kts laden/13kts ballast, Capesize vessels will consume 44 tonnes per day (NDAS). The London market exchange has provided its shipbroker panel members with further
China's Ministry of Transportation reports that the country spent US$2.3 billion on the waterways during the period January to April 2013. This investment by the government shows an increase of 21.2 per cent over the same period in 2012. River transportation enjoys lower shipping rates
Maersk Line has announced it will implement container General Rate Increases on its Transatlantic & Asia/US routes as follows: With effect from July 1, 2013, the Transatlantic trade between North Europe and North America will be increased by US$200 per dry container.
GE Marine announce successful testing of first 12V250 engine to meet upcoming EPA Tier 4i & IMO Tier III emissions without exhaust after-treatment. The announcement was made at the recent Nor-Shipping trade fair in Oslo, Norway, following the successful completion of an extensive
Pellerin Energy Group (PEG), an integrated service provided for the oil and gas industry has named Edward “Ed” Godeaux General Manager of its Water Solutions business unit, announced President Joshua Pellerin. Godeaux joins PEG with more than 18 years of oil and gas experience
Tsakos Energy Navigation Limited (TEN), a product, crude and LNG tanker operator, announced two-year plus one year fixtures at charterers option with minimum rate provisions, for two MR product tankers to a major international end-user. The new charters should generate gross revenues of $22
The UK P&I Club announced that it has completed the consent solicitation process on its hybrid capital bond (the Capital Securities) and has agreed with bondholders to: (a) amend the fixed interest rate payable in respect of the Capital Securities in respect of the period from (and
General Dynamics announced that Thomas W. Kirchmaier has been elected a vice president of the corporation and appointed as president of General Dynamics Advanced Information Systems, reporting to David K. Heebner, executive vice president of the company's Information Systems and Technology group
With seasonally weak demand in the second quarter, the short-term view for freight rates does not look positive finds Drewry. Global oil demand declined by 1.0% in the first quarter of the year to 89.9 million bpd, although some recovery in demand is likely in the second half of the year based
Nor-Shipping 2013 'Agenda Offshore' hear the Director General of the Norwegian Shipowners’ Association pronounce the marriage of maritime and offshore oil and gas industries interests a success. The offshore industry is “a legitimate child” of the marriage between oil and gas as
New Orleans based Harvey Gulf International Marine CEO Shane Guidry announced his company’s first public rating from Moody’s for a new $1 billion credit facility. Harvey Gulf CEO, Shane Guidry, said the rating will help increase the company’s EBDITA to over $500 million in 2016