Mediterranean/N.American Freight Rate Stagnancy

MarineLink.com
Tuesday, March 11, 2014
Image credit APM

Ocean carriers were unable to increase freight rates between the Mediterranean and North America from November to January due to continuing poor vessel utilisation and the approaching threat of P3, according to the latest edition of Drewry's Container Insight Weekly.

Westbound
According to Drewry’s Container Freight Rate Insight, the average all-in freight rate quoted to forwarders for spot cargo from Genoa to New York remained a poor $1,950/40ft throughout.

New York’s port difficulties may have been a problem for ocean carriers, however, as the average freight rate from Genoa to Houston declined from $1,820/40ft to $1,760/40ft, and the average from Genoa to Montreal fell from $3,240/40ft to $3,110/40ft.

Industry sources say that westbound contract freight rate levels also fell at the beginning of January, prompted by concern over future market share once the P3’s new services are launched in 2Q 14. With a current 49% market share of effective vessel capacity, the combination of Maersk, MSC and CMA CGM represents a powerful alliance, even though each will continue to price itself separately.

Source: Drewry's Container Insight Weekly

 

 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NAVCENT Commander Recognizes Journey of Hope Sailors

Commander, U.S. Naval Forces Central Command, U.S. 5th Fleet, Combined Maritime Forces, Vice Adm. John. W. Miller, recognized the accomplishments of three special-needs sailors from the Kuwaiti ship,

NYK Holds 8th Environmental Management Conference

NYK welcomed about 60 environmental supervisors from 47 NYK Group companies to the group’s annual Environmental Management Conference in Tokyo. NYK holds this

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Finance

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

Container Ships

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

NYK Holds 8th Environmental Management Conference

NYK welcomed about 60 environmental supervisors from 47 NYK Group companies to the group’s annual Environmental Management Conference in Tokyo. NYK holds this

Diana Extends Containership Time Charters

Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato   Diana Containerships Inc., a global

Logistics

Gazprom to Partner Turkey to Supply Gas

Moscow hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Minister of Energy and Natural Resources of the Republic of Turkey.

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

Night Moves on America's Waterways

Overnight operations are certainly not unusual on America’s inland waterways, but that doesn’t make them any less hazardous. Onboard activities that seem so straightforward

Consulting

Third Strike, Mansour Is Out

The M/V "MANSOUR M" with IMO number 7600586 has been banned for the 3rd time after subsequent detentions after the second refusal of access order in the Paris MoU region.

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

BMT Supports Samalaju Port Development

BMT subsidiaries in the Asia-Pacific region have been awarded a contract to provide design expertise for an advanced bulk-material handling system for the emerging port of Samalaju in East Malaysia.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.2035 sec (5 req/sec)