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.
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.
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.
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)
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
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
P&O Nedlloyd 4Q Results
P&O Nedlloyd announced that it achieved an operating profit of $84 million in 4Q 2003, compared with an operating loss of $49 million in 4Q 2002. Driving the improved performance: average freight rates increased 16 percent over 2002, and volumes shipped were up 5 percent. Commenting on the future, the company sees a favorable trend in freight rates, and provided trade growth continues as in 2003, the outlook for the container shipping industry remains positive for 2004 although cost
NOL Reports $461M Net Profit in 2010
NOL Group today reported net profit of US$461 million for 2010, representing a US$1.2 billion turnaround from its US$741 million loss in 2009. The container shipping and logistics company said that group revenue reached an all-time high of US$9.4 billion, up 45% from last year. NOL’s fourth quarter net earnings were US$177 million. That compared to a US$211 million loss in the same period a year ago.
NOL Group: $254m 1Q Loss
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 $100 million of cost savings under its ongoing
Too Many Tankships Vie for Persian Gulf Cargoes
A surplus of tankships seeking Persian Gulf cargoes curbs earlier charter rate increases. There are 20 percent more very large crude carriers for hire over the next 30 days than there are cargoes, according to the median estimate of seven shipbrokers and owners (TANKER) surveyed by Bloomberg News. A week ago, the excess was 16.5 percent. The cost of chartering the ships fell to 36.58 Worldscale points yesterday, snapping six days of gains, according to data from the Baltic Exchange in London
Profitability Rests in Carriers’ Hands
As expected the industry just about scraped over the break-even line in 2012, albeit only because of the results of a handful of leading lights. There is every chance that lines will make decent money in 2013, but only if they refrain from old habits and stick to pricing and capacity discipline
U.K. Shipping Sector More Confident, Survey Finds
The survey indicates freight-rate improvements and greater likelihood of new investment in the next 12 months. Overall confidence levels in the international shipping industry recovered to their highest level for two years in the three months ending February 2013, while U.K
Horizon Lines in Red, But EBITDA Rises in Q1 2013
First quarter 2013 net loss amounted to US$ 20.1 million, while rate, net of fuel, increased 1.9% & adjusted EBITDA was up 25.7% from a year ago. Sam Woodward, Horizon Lines' President and Chief Executive Officer said: "The positive factors resulting in adjusted EBITDA growth were
Hamburg Süd 2012: Better, but Not yet Good Enough
Hamburg Süd’s performance in brief Following the powerful recovery of the world economy in 2010 and a weaker 2011, global growth continued in the past financial year, albeit at a slower pace. Against this backdrop, container shipments increased once again
DNB Market Report Says: 'Just Look at the Car Carriers'
In its latest shipping sector report DNB Bank, focuses on how ship speed optimization has changed fundamental supply/demand balances. The DNB Bank report expounds: Speed optimisation has completely changed the fundamental supply/demand balances
UK P&I Club: 7.5% Rate Increase
At its annual board meeting on 29 October 2012, the board of the UK P&I Club (the Club), one of the oldest shipping protection and indemnity insurance mutuals, agreed that the general increase for 2013 renewal will be 7.5 percent.
Horizon Lines Report Container Volume, Revenue, Up in Q3 2012
Horizon Lines' financial report shows volume improves 3.4%, & rate, net of fuel up 2.9% from a year ago. Sam Woodward, President and Chief Executive Officer comments on third quarter 2012 financial results: "Horizon Lines generated a 3.4% improvement in container volume and a 2
Hapag-Lloyd Increase Q3 2012 Profits
Container ship owners Hapag-Lloyd report increased revenue and profits in the third quarter 2012. Hapag-Lloyd was able to increase freight rates, revenue and results in the third quarter, although the market environment remains challenging
CMA GCM: Third-Quarter 2012 Results
Very good operating performance, with profitability close to CMA CGM’s historic highs. The Board of Directors of France’s CMA CGM, the world’s third largest container shipping group, met under the chairmanship of Jacques R
Matson's 2013 Westbound Hawaii Service Rates to Increase
Matson has announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $175 per westbound container and $85 per eastbound container, effective January 1, 2013. The increase will be filed with the Surface Transportation Board
Shipping Confidence on the Rise in 2013
Overall confidence levels in the shipping industry recovered slightly from their lowest level for over four years in the three months ended November 2012, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens.
US Non-tank Vessel Response Plan Approved
T&T Salvage remind that the OPA 90 Vessel Response Plan regulatory package has been approved by the Office of Management and Budget (OMB) & offers its services. On March 9th, 2013, the OPA 90 Vessel Response Plan regulatory package outlining requirements for nontank vessels trading in U.S
Canadian Seaway: Transit Rate Increase
The Canadian St. Lawrence Seaway Management Corporation (SLSMC) increase tolls 3% for 2013 season. There are no tolls charged for transiting the U.S. section of the Seaway's lock system which is operated by the U.S. Saint Lawrence Seaway Development Corporation.
Hapag-Lloyd Increases Freight Rate in 2012 Financial Year
Freight rate up 3.2% on last year / Transport volume increases by 1.1%. Revenue rises by 12.1% to EUR 6.84 billion / Absence of peak season and persistently high energy costs weigh on business / Positive operating result of EUR 26 million / EBITDA of EUR 335 million.
Survey: Shipping Confidence Reaches Highest Level for Two Years
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens