Marine link
 

General Rate

Global Shipping in Doldrums

Photo: Maersk Line

 Wells Fargo Securities says that headwinds face global shipping industry and the continued overcapacity means freight rate gains are less likely to stick.   "Given the continued overcapacity headwinds and easing containerized trade demand, we believe these freight rate gains are less likely to stick, and we expect rates to remain under pressure as we approach the slack winter season, particularly following a muted peak season," says a report from Wells Fargo Securities, written by Michael Webber that appeared in the Forbes.   Container Freight Rates Get Boost Amid November General Rate Increases, Will They Stick? Last week, the Shanghai Containerized Freight Index (SCFI) increased by 41.1% wk/wk (week-over-week) to $759/TEU (twenty foot equivalent unit), marking the highest levels reached since early August (although the SCFI is still down 30% year-to-date).    That said, we note that the bulk of these gains were driven by the latest round of general rate increases (GRIs) across the Container Line group, with Liners implementing rate hikes ranging from $600-$1,200/TEU along major trade lanes, which helped to drive the Shanghai-Europe and Shanghai-Mediterranean indexes up by 328% (to $988/TEU) and 298% (to $804/TEU), respectively.  


General Rate Increases, Transatlantic Trade

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


MOL Announces GRI

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)


Rate Increase, Transatlantic Trade

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


World’s Dry Cargo Transport Rate Nosedives

Pic: Maersk Line

 The recession, gradually engulfing the world commodity production, has become apparent amid the dynamics of rates for international dry cargo transportation, reports abc.az   The key shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 26.7 percent to $469 per 20-foot container (TEU), last Friday.    It was the third consecutive week of falling freight rates on the world’s busiest route and rates are now nearly 60


Asia–U.S. Container Lines to Introduce Freight Increase

TSA Containership: Photo Evergreen Line

The Transpacific Stabilization Agreement (TSA) informs that member container shipping lines are proposing an across-the board general rate increase (GRI) of at least US$600 per 40-foot container (FEU) to all destinations, effective September 1, 2014 Carriers had filed increases in their individual tariffs in late July and subsequently began notifying customers directly. TSA lines said the planned GRI follows strong cargo demand and high vessel utilization levels in recent months


Container Industry Stuck in a Vicious Cycle

Photo: Maersk

The industry is stuck in a vicious cycle, Drewry reports – although new ships may give carriers lower slot costs, the supply/demand dynamics are out of kilter and freight rates remain very volatile. Drewry Maritime Research’s 1Q14 Container Forecaster report highlights that the industry remains in an extended down cycle. This is being accentuated and extended by the constant delivery of new ships. The global cascade is now hurting the balance of the north/south trades.


Maersk Rate Hikes Hitting the High Notes

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.


Scorpio Bulkers in Limbo Until New & Chartered-In Ships Contribute

Bulk carrier: Image courtesy of Scorpio Bulkers

Scorpio Bulkers, headquartered in Monaco, report its results for the three months ended December 31, 2013 and for the period from March 20, 2013 (date of inception) to December 31, 2013. Extracts follow: Results for the three months ended December 31, 2013 For the three months ended December 31, 2013, the Company had a net loss of $3.6 million, or $0.04 basic and diluted loss per share. During this period the Company had no vessels in operation


General Maritime to buy Navig8 Crude Tanker

General Maritime Corp, which operates crude oil tankers, will acquire Navig8 Crude Tankers Inc in a stock-for-stock deal, the two companies said in a statement.   A newly formed unit of General Maritime will acquire all of Navig8 Crude's common shares to form Gener8 Maritime Inc.   Tanker companies, struggling to cope with poor charter rates, are teaming up to improve efficiency and reduce operating costs, besides adding to their fleets.  


Asia-N.Europe Box Rates Fall 8.1 pct

File Image (Credit: GPA)

Freight rates for transporting containers from ports in Asia to Northern Europe fell 8.1 percent to $713 per 20-foot container (TEU) in the week ended on Friday, the Shanghai Containerized Freight Index showed according to a source with access to the data.


Asia Tankers-VLCC Rates to Hold, Ample Tonnage Weighs

file image: a VLCC transits the Suez Canal (Suez Canal Authority)

"Pure" chartering market with little disruption. Rates to hold around W45 for Middle East; W48 for West Africa. Freight rates for very large crude carriers (VLCCs) are likely to hold steady around existing levels as new vessel deliveries and a reduction in port delays weigh on a ample


Baltic Index Falls for Third Straight Day

File Image: A FedNav Bulk Vessel (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the third straight day on Thursday due to weaker rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Asia Dry Bulk-Capesize Owners Remain Confident

File Image: typical bulk carrier underway (BSM)

Number of idle ships down to around 15, from 70 in early 2016 - broker. Freight rates for large capesize dry cargo ships on key Asian routes could nudge lower next week although they are generally expected to remain around the current levels, ship brokers said.


Capesize, Panamax Vessels Drag down Baltic Index

file image: a so-called ValeMax Bulk Carrier (Vale)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday due to weaker rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Fitch Affirms Adani Ports and SEZ at ‘BBB-‘

Photo Courtesy Adani & SEZ

Adani Ports and Special Economic Zone Limited (APSEZ) today informed the Stock Exchanges that Fitch Ratings, Singapore has affirmed India-based APSEZ’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘.  


Maersk Line Lowers Asia-Europe Freight Rates

Photo courtesy of Maersk

Maersk Line, the world's largest container shipping company, told its clients on Tuesday it will set the maximum freight rate from Far East Asia to Europe at $1,250 per 20-foot container (TEU) as of August 1, down by $200 from the previous month's comparable rate.  


Baltic Index Dips on Capesize Rates

File image: a typical bulk carrier underway (BSM)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on weaker capesize vessel rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 2 points, or 0


Baltic Index Firms on Panamax, Smaller Vessels

File image: a Bulk carrier underway (BSM)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on firmer rates for panamaxes and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0


Asia Tankers: VLCC Rates Steady on Drip-fed Cargoes

Freight rates for very large crude carriers (VLCCs) are set to maintain the current levels next week as charterers drip-feed cargoes for August loading into an overtonnaged market, ship brokers said.   "There is quite a negative outlook... we may be close to the bottom


Higher Rates Continue to Perk Up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, boosted by stronger rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Asia-N.Europe Container Rates Fall 17%

File photo: Maersk Line

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17 percent to $776 per 20-foot container (TEU) in the week ended on Friday, the Shanghai Containerized Freight Index showed according to a source with access to the data.


Iron Ore Surge Could Boost Asia Bulk Capesize Rates

Freight rates for large capesize dry cargo ships on key Asian routes could rise next week on higher volumes of iron ore cargoes, ship brokers said.   "It's a bit more positive, optimistic next week," a Singapore-based capesize broker said on Thursday.  


Baltic Index Rises on Freight Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, extended its rally on Thursday, driven by higher rates across all vessel types.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Elcome Scores Service Agreements in the Middle East

Marine technologies and system integrator Elcome International has signed fleet service agreements with two major ship operators in the Middle East, the company announced today.   Elcome will provide shore-based maintenance and service for navigation






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