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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


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


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


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


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


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


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


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


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.


Maersk Supply Ships Q3 2013 Profits Soar

A Maersk OSV: Image courtesy of Maersk

Maersk Supply, a subsidiary of the A. P. Moller-Maersk group, came out of the third quarter of 2013 with a profit of US$76-million, against a profit of US$ 48-million in the same quarter in 2012. Revenue rose from US$ 226-million in the period of 2012 to US$ 240 million.


Matson Increases Westbound Hawaii Service 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 Hawaii service by $175 per westbound container and $85 per eastbound container, effective January 5, 2014


More Matson Rates to Increase

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Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Guam/Commonwealth of the Northern Marianas Islands (CNMI) and Micronesia services by $275 for both westbound and eastbound containers, effective January 26


Bourbon Revenues Rise in 2013

Photo: Bourbon

Revenues up 10.5% vs. full year 2012 to €1.312 billion and up 6.0% vs. fourth quarter 2012 to €331.6 million impacted by U.S. Dollar depreciation against the Euro •    Annual Revenues up 10.5% partly due to a 5


Bourbon's Revenues up in 2013

Net Income Group share up 174% to €115 million. Increased operating margin1 and capital gains generated €575.7 million EBITDA, up 41.7% compared to 2012.   EBITDAR2 (excluding capital gains) reached €450.3 million (+17.6%), an increase of 2.1 pts to 34


Hapag-Lloyd Boosts Results, Volume in 2013

Hapag-Lloyds Chicago Express passing under Hamburgs Köhlbrandbrücke

Operating result improved by €41 million to €67.2 million / EBITDA increases by €54.6 million to €389.1 million / 4.6% more transport volume / persistently strong competition and high energy costs Hapag-Lloyd improved its result and transport volume in the previous financial


Shipping Confidence at Highest Level Since 2008

Richard Greiner

Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens


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


GulfMark Offshore Records its Highest Ever Q1 Revenue

GulfMark OSV: Image credit the owners

Houston-based GulfMark Offshore President & CEO Quintin Kneen commented on his company's first quarter 2014 financial report: "We recorded our highest first quarter revenue ever, and we still expect 2014 to produce our highest annual revenue ever."


NAT in Q1 2014 Black: First Time in Four Years

NAT Tankship: Image courtesy of NAT

Nordic American Tankers (NAT) report a cash dividend, strongly improved operating cash-flow and a positive net income in the first quarter of 2014. The Company informs that thanks to a strong winter market, Q1 2014 has produced the best results it has seen in several years


Med Tanker Market Pins Freight Rate Hopes on Libya Oil Export Push

Rising oil exports from Libya after months of disruption helped push Mediterranean tanker rates to the highest levels in nearly six months on Wednesday, and shipping players expected more gains in earnings as shipments from the OPEC member step up.






 
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