Technology Practices News

Ocean freight rates for cargo moving under contracts on the major East-West trade routes saw a reversal of trend in 4Q 2016, according to Drewry’s Benchmarking Club, a closed user group of 50 multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club Contract Rate Index, based on average Transpacific and Asia-Europe contract freight rate data provided confidentially by shippers, increased by 3% in the latest quarter, after having fallen for more than 6 consecutive quarters. “2017 will be the first year of increasing contract rates since 2010 and this could come as a shock to some logistics managers who had got used to deflationary international transportation costs year after year…

ABS Group provides a range of technical solutions to support safe, reliable and high-performance assets and operations in a variety of asset-intensive industries, including the marine sector. With more than 2,400 professionals in over 30 countries, ABS Group delivers solutions all around the world. The mission of ABS is to serve the public interest as well as the needs of clients by promoting the security of life and property and preserving the natural environment. As a full-service provider to the entire towing vessel industry…