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

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

Finance

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Paragon Offshore to File for Bankruptcy

Paragon Offshore Plc said it will file for Chapter 11 bankruptcy on or before Feb. 14, becoming the first U.S. energy-related company to seek court protection from

Philippines Mulls Bilateral Sea Talks with China

The Philippines may consider two-way talks with China to resolve a territorial dispute in the South China Sea but only if it wins its case with Beijing at an arbitration tribunal in The Hague,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Salvage Ship Electronics Ship Repair 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: 0.0779 sec (13 req/sec)