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Rate Increase

Maersk Increase Transatlantic Container Rates

Maersk Line announce that they find it necessary to implement general rate increases from the base rate. The new container freight rates will be effective 1, April 2013 as follows: US to Northern Europe General Rate Increase: USD 200/300/300/300 per 20′/40′ standard/40′ high cube/45′ high cube dry Northern Europe to East and Gulf Coast of US General Rate Increase: USD 200/300/300/300 per 20′/40′ standard/40′ high cube/45′ high cube dry Northern Europe to West Coast of US General Rate Increase: USD 400/500/500/500 per 20′/40′ standard/40′ high cube/45′ high cube dry Maersk Line adds that the increase is a necessary measure to meet service requirements.  


Maersk Line to Up Container Freght Rates

Photo courtesy of Maersk Line

Maersk Line has informed customers of a new rate increases to take effect from 1, November 2013. The increase is of a minimum of US$ 600 dollars per 20 foot container and US$1200 per 40 foot container, reports 'Maritime The rate increases will apply to the route from the Far East, excluding Japan, to Northern Europe and the Mediterranean.

 According to Maritime Denmark, in order to continue offering its broad portfolio of services and high level of reliability


Maersk New Service and General Rate Increase

Maersk announced a new service between East Med and Central Europe via the Adriatic Sea called Adriatic Levant Express or ALEX. Maersk is deploying two vessels on the new service to offer a solution to the East Mediterranean reefer market with departures from Alexandria (Egypt) and Ashdod (Israel) to Central Europe. ALEX will phase in from Ashdod, 18 November 2009. The rotation will be Alexandria (Egypt), Ashdod (Israel), Koper (Slovenia), Ravenna (Italy), Piraeus (Greece)


Horizon Announces General Rate Increase for Hawaii Cargo

Horizon Lines, LLC announced that it will file a General Rate Increase with the Surface Transportation Board to raise its ocean freight rates for the company's Hawaii service effective January 2, 2006. The amount of increase to be filed varies depending on a number of factors, including rate basis of the ocean freight and the direction and mode of transport.


Sea Star Line Announces Rate Increases

Sea Star Line announced that it is implementing a general rate increase, effective April 1, 2012. The general rate increase of 3.5 percent  increase will be administered on shipments between U.S. ports and Puerto Rico. Sea Star Line cited escalating operational costs as the main driver for the increase. “Sea Star Line remains committed to the Puerto Rico trade and needs to implement rate increases and other activities to help to ensure continued profitability


Maersk Line Increases Rates

Maersk Line will be implementing a general rate increase on the Eastbound Mediterranean trade from the East Coast and Gulf ports of North America to Mediterranean ports. The increase will apply for all cargo under Maersk Line independent tariffs and service contracts as agreed with our customers individually. The level of increase will be $400 per 20-ft. and $600 per 40-ft. applicable on dry cargo and will be effective 15 November 2007.


Seaway Tolls to Increase by 2.5% in 2014

GRT_LAKES_SEAWAY.gif

The St. Lawrence Seaway Management Corporation (SLSMC) announced a toll rate increase of 2.5% for the 2014 navigation season. The new revised tariff will be posted and available on the Seaway website on January 6, 2014. The Great Lakes / St. Lawrence Seaway navigation system supports over 227,000 jobs and $35 billion in economic activity per year. The SLSMC remains dedicated to promoting the economic and environmental benefits of marine transportation, attracting new cargoes to the Seaway


Novorossiysk: New Tonnage Dues Rates

Photo courtesy Novorossiysk Commercial Sea Port

GAC informs that tonnage dues rates in the port of Novorossiysk will be increased about 9% with effect from April 27, 2014. The rate increases are as follows: Tankers - Rates in force: 2.67 RUR - New rates: 2.91 RUR - Formula: 2.91 x Reduced GT x 2 Cont/Ro-Ro - Rates in force: 1.70 RUR - New rates: 1.91 RUR - Formula: 1.91 x GT x 2 Dry/Bulk/General - Rates in force: 2.65 RUR - New rates: 2.43 RUR - Formula: 2.43 x GT x 2


Moller-Maersk Group On the Right Track Says CEO

Danish shipper and oil group A.P. Moller-Maersk expects to do better this year than last despite a 2 percent drop in Q2 2012 earnings. Extracts from the interim financial report for the 2nd quarter 2012: “We deliver a fairly satisfactory result for the second quarter, and we are on the right track. Container rates have been improved, Maersk Line is back in black figures and our other core growth businesses are executing well on strategy


NOL Group: $254m 1Q Loss

Ng Yat Chung

High fuel costs, low freight rates conspire to create tough 1Q NOL Group, the Singapore-based container shipping and logistics company, reported a first quarter 2012 net loss of 254 million compared to a net loss of $10 million in the same period last year.  NOL said high fuel costs and low freight rates in container shipping affected first quarter 2012 performance.   NOL said that in the first quarter of 2012 it achieved about $100 million of cost savings under its ongoing


Matson Raises 2015 Westbound Hawaii Box Rates

Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $225 per westbound container and $110 per eastbound container, effective January 4, 2015.  


Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the Northern Marianas Islands (CNMI) and Micronesia services by $225 for both westbound and eastbound containers, effective January 25, 2015


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.


High Daily Rates Boost Bourbon Q3 Revenue

Bourbon Mistral (Photo: Bourbon)

Bourbon announced its financial results for the third quarter of 2014, in which its saw revenues increase by 5.7% year on year as fleet growth and higher average daily rates were partially offset by lower utilization rates. Bourbon said average daily rates increased in almost all segments and


Ensco plc Reports 3Q, 2014 Results

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  Ensco plc  today reported earnings per share from continuing operations of $1.93 in third quarter 2014, up 16% from $1.66 in third quarter 2013. Adjusted for a $0.06 per share gain on the sale of four jackup rigs, third quarter 2014 diluted earnings per share from continuing


UK P&I Club: 6.5% General Increase for 2015

The UK P&I Club board has agreed at its meeting on October 27, 2014 that the general increase for the 2015 renewal will be 6.5%. The premium rating increase is in addition to any change in the cost of the international group reinsurance premium for 2015 for the mutual members


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


TEN Extends Charters for Three Product Tankers

Photo courtesy of TEN

Three new charters to generate total revenues of $40 million; spot rates increase in Q4 Crude, product and LNG tanker operator Tsakos Energy Navigation Ltd. (TEN) announced the charter extension for three product tankers, including two Panamaxes and one MR


Charterers Remain Optimistic Despite Small Downturn

Richard Greiner

Overall confidence levels in the shipping industry fell slightly during the three months to August 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. They are, however, still higher than at the corresponding period twelve


GDP v TEU: DMR Analyses the Interplay

Container cranes: Photo courtesy of ABB

The strength of first-half 2014 container flows from Asia to Europe flies in the face of the macro-economic data coming out of Europe, says Drewry  Maritime Research (DMR) in their latest ‘Container Insight Weekly’, excerpted here.


Bourbon Posts Weak First Half Results

PSV Bourbon Explorer 501 (Photo courtesy of Bourbon)

Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues


CMA CGM Continues Expansion, Confirms Profits

Photo: CMA CGM

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2014.


SCI Resorts to Rate Restoration

SCI Container vessel

  To meet increasing operational costs and maintain high level of reliability and proficiency to our Customers, The Shipping Corporation of India (SCI) has announced hike in rates on ISE and IPAK Service (Indian Subcontinent to Europe) w.e.f


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


SEACOR Holdings Announces Q2 Results

SEACOR Holdings Inc. has announced its results for its second quarter ended June 30, 2014. For the quarter ended June 30, 2014, net income attributable to SEACOR Holdings Inc. was $21.1 million, or $0.98 per diluted share. For the six months ended June 30, 2014






 
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