MSC Announces Independent Transatlantic Rate Restoration

Friday, November 17, 2006
Mediterranean Shipping Company announced that it will implement a rate restoration on the westbound North Europe-to-North America trade. The Geneva, Switzerland-based cargo steamship line notes that in view of actual market situation, depressed rates and increased costs, the company will proceed with an independent rate restoration that will increase all tariff rates and service contracts by a minimum of $300 per container. This adjustment will go into effect at the latest by January 1, 2007. MSC states that it has not been exempt from recent market developments that have caused rate levels to deteriorate to unsustainable levels. At the same time, the company is faced with increased cost pressures that require an immediate adjustment in order for MSC to maintain the quality service levels it provides to its customers. This rate restoration is independent from MSC’s partners in the Trans-Atlantic Conference Agreement (TACA) which include Atlantic Container Line AB (ACL), NYK Line, Orient Overseas Container Line (OOCL) and Maersk Line.
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Gazprom Transgaz Ufa Organizes Arts Festival

Over 200 healthy children and children with disabilities from Bashkortostan as well as the Volga Region participated in the Breaking the Barriers second interregional children’s arts festival,

President Pryor Retires from ExxonMobil Chemicals

Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Steven Palazzo Visits HII, Newport

Huntington Ingalls Industries today hosted Rep. Steven Palazzo, R-Miss., for a tour of the company's Newport News Shipbuilding division. Palazzo represents the fourth district of Mississippi,

Finance

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

Oil Deal Between Iraqi Kurdistan & Baghdad Welcomed

The United States welcomes an agreement between Iraq's central government in Baghdad and its northern Kurdistan region over the management of oil exports, U.

Nigeria to Cut Petrol Subsidy by Half

Nigeria plans to cut subsidies on petroleum products by half next year after sharp falls in global crude prices, spurred the government to revise its 2015 budget downwards,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.2766 sec (4 req/sec)