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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Cenac Marine to Christen Newest Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Brown Named Bureau Veritas Communications Director

Nick Brown has been appointed Bureau Veritas’ new Communications Director, Marine & Offshore Division, the classification society announced.    Brown will take up the post from November 2,

Finance

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.0834 sec (12 req/sec)