Transatlantic eastbound chemical freight rates dropped slightly this week on a continued lull in the spot market, ICIS reports brokers as saying. It was the second drop in as many weeks. The latest SSY Base Oil Shipping Report noted that eastbound rates “took a tumble over the past week or two thanks to an injection of fresh tonnage.” SPI Marine’s most recent weekly report said the lull might signal a bigger slowdown and “embolden charterers to believe the beginning of a weakened state has just begun”. Freight charges on 2,000-tonne cargoes fell to $82-87/tonne from $85-90/tonne previously. And 5,000-tonne cargoes slipped to $63-68/tonne from $64-69/tonne previously. The transatlantic eastbound leg remains by far the strongest shipping route in the Americas, though. Much of the traffic includes chemical tankers headed from Houston to the port complex of Amsterdam, Rotterdam and Antwerp (ARA).
All Asian shippers wil have to pay higher freight charges to European container ship operators from September 2012. From September 1, Denmark-based Maersk, the world's largest container line, will implement a general freight increase of 250 U. S. dollars per TEU and 500 U.S. dollars per FEU on all shipments from the Far East to the Indian sub-continent, including India, Pakistan and Sri Lanka. Taking a cue from Maersk, Emirates too has announced a freight increase of 200 U.S
A former high-level shipping executive was sentenced today to serve 48 months in jail and to pay a $20,000 criminal fine for his role in an antitrust conspiracy involving the transportation of goods to and from the continental United States and Puerto Rico by ocean vessel, the Department of Justice announced on Jan. 30. This is the longest jail sentence ever imposed for a single antitrust charge. Peter Baci of Jacksonville, Fla., pleaded guilty on Oct. 20, 2008, in the U.S
Florida-Based Sea Star Line LLC Agrees to Plead Guilty and Its Former President Is Indicted for Price Fixing on Coastal Freight Services Between the Continental United States and Puerto Rico Sea Star Line Also Agrees to Pay $14.2 Million Criminal Fine. Sea Star Line LLC has agreed today to plead guilty and to pay a $14.2 million criminal fine for its role in a conspiracy to fix prices in the coastal water freight transportation industry, the Department of Justice announced
Three former executives of ocean freight shipping firms have been indicted for participating in a long-running price-fixing conspiracy, the U.S. Justice Department announced. The executives – Yoshiyuki Aoki, Masahiro Kato and Shunichi Kusunose – have been brought up on felony charges for allegedly allocating customers and routes, rigging bids and fixing prices for the sale of international ocean shipments of roll-on, roll-off cargo to and from the U.S
CMA CGM informed its customers that the collection of Terminal Handling Charges (THC), which was introduced in Ghana on July 20th, 2016, has been temporarily suspended, effective October 4th, 2016. CMA CGM will communicate on the resumption in due course. Earlier, the transport ministry has suspended the implementation of the THC being proposed by the various shipping lines in Ghana. The Ministry stated that “no new service has been introduced by the
CP Ships Limited today announced unaudited operating income for third quarter 2004 of $41 million, up from restated $38 million operating income in third quarter 2003. Net income available to common shareholders was $31 million compared to restated $27 million in the same period 2003. Basic earnings per share was $0.34 compared with restated $0.30 in third quarter 2003. EBITDA(A) was $72 million compared to restated $67 million in third quarter 2003
DUBLIN, IRELAND, Mar 15, 2011 (MARKETWIRE via COMTEX) --TBS International plc (NASDAQ: TBSI) announced today its financial and operating results for the fourth quarter and year ended December 31, 2010. Management Commentary: Joseph E. Royce, Chairman, Chief Executive Officer and President stated: "The TBS results for the fourth quarter 2010 reflect the ongoing downward pressure on dry cargo freight rates that have continued into the first quarter of 2011
Matson has announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $175 per westbound container and $85 per eastbound container, effective January 1, 2013. The increase will be filed with the Surface Transportation Board. In addition, Matson will raise its terminal handling charge by $50 per westbound container and $25 per eastbound container, also effective January 1, 2013
Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Guam/Commonwealth of the Northern Marianas Islands (CNMI) and Micronesia services by $275 for both westbound and eastbound containers, effective January 26, 2014. The increase will be filed with the Surface Transportation Board and the Federal Maritime Commission. The rate increase also applies to the Commonwealth of the Northern Marianas Islands
New vessels expected to hit freight rates; new trade route from east U.S. to Asia to meet Chinese demand. The tanker market may face a "difficult" second and third quarter this year after a robust first quarter as supply of newly built vessels loom
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the sixth consecutive session on Tuesday on lower rates for larger vessel segments. The overall index, which factors in rates for capesize, panamax
After the Baltic Dry Index (BDI) had its seasonal weakness around the Chinese New Year in early February, stronger-than-expected demand came from across the board and lifted freight rates, says BIMCO market analysis of Dry Cargo.
Given the mounting pressure on freight rates and continuing fleet growth over the next two years, Drewry believes that excess vessel supply will reduce only gradually with the recovery in rates pushed back to the latter part of next year
The service provided by container shipping lines is rated as poor to average and has deteriorated in the past year, according to a survey of exporters, importers and freight forwarders conducted jointly by Drewry and the European Shippers’ Council (ESC).
As we enter Q2 2017, Asia’s crude tanker market finds itself flooded with a flurry of newbuilds that hit the water over the last quarter. According to Lloyd’s List Intelligence, new tonnage delivered hit 15m dwt in Q1 and is expected to stand at 8.7m dwt in Q2
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, supported by stronger rates for smaller vessel segments even as capesize rates weakened. The overall index, which factors in rates for capesize, panamax
Commander, U.S. Fleet Forces (USFF) and Commander, U.S. Pacific Fleet (PACFLT) released a joint message April 14, that suspends the use, possession, storage and charging of Electronic Nicotine Delivery Systems (ENDS) aboard ships, submarines, aircraft, boats, craft and heavy equipment
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on weaker rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down two points, or 0
Water levels on the Rhine and Danube in Germany remain low despite recent rain and freight vessels cannot sail fully loaded on the German sections of the rivers, traders said on Tuesday. The Rhine is too shallow for normal sailings south of Duisburg and Cologne to Switzerland, traders said
The port of Antwerp handled 54,324,303 tonnes of freight during the first three months of this year, 1.5% more than in the same period last year. The further growth is mainly due to container freight, which was up by 2% in terms of tonnage.
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday on sliding rates for capesize vessels, weighed further by weaker panamax demand. The overall index, which factors in rates for capesize, panamax
A new generation fast ferry has left Tasmania on her delivery voyage to Denmark via the Panama Canal. The Express 3 is a 109 meter long high speed vehicle/passenger ferry from Australian shipbuilder Incat Tasmania for Danish operator Molslinjen
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday on weaker rates for large vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 25 points, or 2