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Cosco Container Lines Ltd News

19 Aug 2014

Asia–U.S. Container Lines to Introduce Freight Increase

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, 2014 Carriers had filed increases in their individual tariffs in late July and subsequently began notifying customers directly. TSA lines said the planned GRI follows strong cargo demand and high vessel utilization levels in recent months, which forward bookings suggest will continue through September. With equipment, inland transport and other cargo handling costs rising steadily, carriers see higher baseline rates going into 2015 as essential to maintaining adequate service levels over time.

28 Sep 2001

Five Shipping Lines Agree to Form Alliance

Through its U.S. General Agent, Solar International Shipping, Yang Ming Line announced that five major Asian steamship lines have agreed to form one of the largest cooperative international sea container transport efforts among steamship lines. The new alliance for a cooperative worldwide network will consist of: COSCO Container Lines Ltd., Kawasaki Kisen Kaisha, Ltd. (K-Line), Yang Ming Marine Transport, Hanjin Shipping Co., Ltd., and Senator Lines GmbH. Management for the group agree that the only way to provide the best possible service to customers in the container shipping industry is by means of optimization of each carrier?s assets and rationalization of their serivces on a global basis.

19 Sep 2007

Container Ship Docks at the Port of Hamburg

company COSCO Container Lines Ltd. for the first time. date. by HHLA Container Terminal Tollerort (CTT). This container giant with a length of 1,145 ft. as part of its AE4 Asia-Europe line service. Kong and Nansha. shipyard, has a length of 1,145 ft., a breadth of 149 ft. a slot capacity of 10,062 TEU (20-ft. standard containers). newbuilds of this size into its China -Europe route by the end of 2008.

29 Mar 2006

Cosco Guangzhou Docks in Port of Hamburg

The container ship new building Cosco Guangzhou chartered by the Chinese shipping company Cosco Container Lines Ltd. docked in the Port of Hamburg on March 27 for the first time. Loaded with export goods for Northern-Europe, the container vessel started its maiden voyage on February 25 in Shanghai. Cosco is using the ship on its liner route AE 1 between the Far East and Europe via Dalian, Qingdao, Singapore, Rotterdam und Felixstowe to the Port of Hamburg, Europe’s most important sea port for Far East and China cargoes. HHLA-Containerterminal Tollerort (CTT) took over the discharging and loading of containers for the so far biggest container ship being dispatched in the Port of Hamburg. The 9,500 TEU vessel was built by Hyundai Heavy Industries in Korea.

10 Nov 2005

Shipping Lines Estimate Costs to Rise

Bloomberg reported that Neptune Orient Lines Ltd. and 11 of the largest shipping companies plying the Pacific Ocean said costs of moving cargo to the U.S. in 2006 will rise 7 percent on higher fuel prices, which may spur them to raise freight rates. The cost of transporting containers by trucks and railways will increase as much as 25 percent, the 12-line Transpacific Stabilization Agreement, whose members ship about 70 percent of trans-Pacific trade, said in a statement today. Neptune Orient, Evergreen Marine Corp. and other Asian shipping companies are struggling with rising costs from higher fuel prices and port fees, amid increased demand for freight to the U.S. and Europe. Concern of a surplus of vessels may limit shipping lines in raising freight rates in 2006 for the fifth year.