Container Shippers Seek Rate Hikes

Friday, October 22, 1999
A group of container-shipping companies will reportedly seek rate increases of between 10 and 15 percent next year on cargo traveling to the United States from Asia. The group, the Transpacific Stabilization Agreement, represents 14 container-shipping companies that handle goods ranging from clothes to electronics, toys and home furnishings. Cargo in the trade, of which the group handles more than 70 percent, has been valued at more than $200 billion a year. The rate increases are scheduled to go into effect May 1, 2000. The Oakland, Calif.-based Transpacific Stabilization Agreement represents major shipping lines including A.P. Moller-Maersk Line, Evergreen Marine Corp. and APL, a unit of Neptune Orient Lines Ltd.Merrill Lynch Upgrades Pakhoed Merrill Lynch has upgraded its intermediate-term rating on Dutch shipping and tank storage group Pakhoed NV to "accumulate" from "neutral," while keeping a long-term "accumulate" rating on the stock. Further details were not immediately available.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Australia, New Zealand Navies Intercepts Drugs off Africa

A combined Australian and New Zealand operation 260 km off the coast of Africa has seized more than 5.6 metric tons of cannabis resin worth an estimated $280 million (AUD).

Nigerian Oil Workers Call Off Strike After Talks with Government

Nigerian oil workers' unions have called off a four-day strike after reaching a deal with the government in a dispute over pensions, they said on Saturday. A

Nigerian Minister Pledges $1.3 bln for Power Companies

Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised.

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1090 sec (9 req/sec)