After a downtrend in the freight shipping tanker market since the middle of 2007, the industry has seen nothing but rate increases in the last month. This freight rate increase can affect consumers across the board, according to the freight transportation The cost of freight shipping can mean an increase in the cost of many consumer products, according to FreightBrokering.info, which is why it's so important to keep freight transportation costs down. There are many reasons why the costs of ocean freight shipping have increased. Indian Oil Corporation recently paid $9 million in freight transportation charges for shipping crude oil on a very large crude carrier from West Africa to Vadinar, India. The high freight rate was a result of oil firms scrambling to hire ships before the holiday season started, leading to a shortage of ships. Another recent event that may be affecting the ocean freight rate is an accident that occurred on December 7 about five miles off the coast and 93 miles southwest of Seoul, which caused South Korea's worst oil spill in history. Single-bottomed tankers are already scheduled to be phased out worldwide by 2010 under an international maritime treaty, and demands to ban single-hull tankers ahead of the deadline have now emerged. This leaves more demand for other types of freight shipping vessels, and the resources are not necessarily there.
FedEx Logistics Inc reportedly will enter the oceanshipping business. FedEx Logistics, a unit of FedEx Corp., will become a non-vessel operating common carrier (NVOCC), meaning it will send freight by sea but not own any ships, Mark Gunn, of the Akron, Ohio-based logistics firm said, "We aren't going to own any ships." FedEx Logistics will arrange the global logistics of ocean freight but Gunn did not say when this will start.
As part of a US$50-million contract Geodis Wilson will manage the transport of 16 lock gates, each weighing more than 4,000 tons, for Panama Canal expansion project. An initial vessel, carrying four of the gates will depart from Italy in February 2013 and will be followed by a further three shipments throughout the year. The project is scheduled for completion in December 2013. The new gates are part of the large-scale expansion plan by the Panama Canal Authority that is designed to double
CaroTrans, a global NVOCC (non-vessel operating common carrier) and ocean freight consolidator, today announces a strategic alliance with Multifreight Consolidator System, Inc. (MFCSI), a NVOCC in the Philippines market committed to responsive, flexible transportation services. The CaroTrans MFCSI partnership will offer fast, reliable LCL (less than container load) and FCL (full container load) import and export cargo services between North America and the Philippines, the company said
UTi Worldwide Inc., a global supply chain services and solutions company, together with its client, Ansell Limited, named Safmarine its "Partner of the Year" for 2013-2014 during their annual Ocean carrier performance review meeting in July. The award recognizes the strength of Safmarine’s relationship with UTi Worldwide and Ansell Limited. UTi and Ansell jointly selected Safmarine as a global ocean partner as part of their Strategic Ocean freight Partnership program
CaroTrans, a leading global NVOCC (non-vessel operating common carrier) and ocean freight consolidator, today announces their U.S. West Coast port readiness program to address potential supply chain disruptions. Congestion and current labor issues are impacting the flow of cargo at U.S. West Coast ports and there is the likelihood of further instability. To address this infrastructure challenge, CaroTrans has developed alternative routing solutions to lessen the impact on supply
Hvide Marine/Sun State Christens New Ship Hvide Marine Incorporated (HMI) and subsidiary Sun State Marine Services, Inc., recently christened the first in a series of new cargo ships at its U.S. shipyard facility in Green Cove Springs, Florida. Constructed entirely on-site by Sun State Marine Services, Inc., the 190-foot 'landing craft' type freight vessel is specially designed and ideally suited for conducting trade with Bahamian and Caribbean markets that have minimal or unimproved
Stolt-Nielsen Limited reported unaudited results for the first quarter ended February 28, 2013. Net profit attributable to SNL shareholders in the first quarter was $1.5 million, with revenue of $519.4 million, compared with $18.2 million, with revenue of $510.9 million, respectively, in the fourth quarter of 2012. Highlights for the first quarter of 2013, compared with the fourth quarter of 2012, were:
The UK’s second largest ports operator, Peel Ports, has today (Wednesday, 29 April) launched a major carbon emission initiative, Cargo200, and is calling on the UK freight and logistics industry to rethink supply chain and services routes in order to reduce freight mileage by 200 million miles over the next five years. Announcing plans at Multimodal 2015 in Birmingham, the company outlined opportunities for cargo owners
Switzerland-based supply chain solutions provider Panalpina is to acquire its Egyptian agent Afifi, a family-owned company specializing in freight forwarding, customs clearance and logistics. The move is an important step in Panalpina’s continued strategic expansion in growth economies, in particular in the Middle East and Africa, the company said. Afifi has been Panalpina’s agent in Egypt for the last 20 years.
Further expected container shipping liner losses throughout the first half of 2016, exacerbated by the awful prevailing spot and contract freight rates will lead to a major trigger point at some stage later this year. This will happen either through radical capacity management at the trade route
A record volume of capacity entered the container markets in 2015. But where have the ships been deployed, and which carriers have taken on the most? The shipping consultants Drewry released their container shipping review for the first quarter 2016
Ministry of Shipping, Government of India has extended its non-financial support to Mumbai and Nhava Sheva Ship Agents Association for its proposed conference on `Ease of doing business’ on Friday, May 6 at the Hotel St. Regis, Mumbai.
Drewry Supply Chain Advisors’ whitepaper finds that the traditional gateway ports in North-West Europe no longer hold all of the trump cards. A recently published whitepaper from Drewry’s Supply Chain Advisors looking at the ‘Best Routes’ for containerised
Amazon.com Inc's China arm has registered as an ocean freight forwarder, according to the U.S. Federal Maritime Commission, a move that will give it more control over shipping products from Chinese factories to U.S. shoppers. The registration is the latest indication that Amazon plans to
Global commodities trader Cargill will close its London shipping office in another sign of the worsening crisis battering the dry freight market, the company said on Thursday. Financial markets have been in turmoil since the start of the year due to worries over the health of the world
Dutch company WEC Lines is to begin weekly calls at the Port of Liverpool from February 10th, providing a new option for shippers looking to access central and northern UK markets. The brand new service will connect Liverpool with Lisbon, Setubal, Leixoes and Sines and vice versa
It seems increasingly unlikely that all shippers will be ready to meet their new verified gross mass obligation in July. What impact will this have on supply chains? Drewry has previously alerted exporters and importers of the lack of progress and the many uncertainties left
CaroTrans, a global non-vessel operating common carrier (NVOCC) and ocean freight consolidator, has entered a partnership with Thrutainers International, an established NVOCC in South Africa. This cooperation creates a U.S.- Sub-Saharan Africa import/export LCL service network in this important
Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages. Its plans in China, outlined in filings there, include handling cargo and customs for goods headed to ports in Japan
Drewry, an independent research and consulting firm to the shipping sector, has launched a new e-Sourcing solution for global ocean transport exporters and importers. The new e-Sourcing Ocean Freight Solution (eSOFS) combines Drewry’s freight rate benchmarking intelligence
All signs point to a continuation of struggling theme for containerized-ocean-freight industry into 2016 and beyond, warns a study by AlixPartners. The containerized-ocean-freight industry suffered in 2015. Its continuing financial woes accelerated because nearly all key
Commodities trader Cargill has appointed a new head of its shipping business, weeks after announcing it would close its London freight unit amid a worsening global seaborne market. The dry bulk sector, which transports commodities such as coal and grain
Peel Ports has been recognised for its commitment to environmental stewardship in the delivery of its Manchester Ship Canal project by the prestigious and historic Carmen Awards. The awards, which honour exceptional achievement in industry and individual enterprise
With around 80 per cent of global trade by volume and over 70 per cent of global trade by value carried by sea, and with these shares being even higher in the case of most developing countries, maritime transport, including liner shipping