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Saturday, January 20, 2018

Container Freight News

Marks & Spencer Signs Contract with Drewry

Marks & Spencer joined other multinationals from North America, Asia and Europe which have found in Drewry’s 150 sets of port region-to-port region container freight rates a valuable source of pricing benchmarks to help their transport procurement decisions. Due to the launch of the global container freight rate benchmarks and associated regional and global freight rate indices, Drewry is making the unique, industry-first freight rate data available on-line to subscribers at www.containerbenchmarks.com. This interactive on-line database provides current and historical market-based container freight rate benchmarks for multiple trade routes and port pairs. The rate benchmarks are based on averages of rates paid by shippers to freight forwarders.

First Electronic Container Freight Swap Settled in USD

Saxo Bank and ICAP Shipping Involved in World's First Electronic Container Freight Swap Settled in USD. Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were involved in the execution of the world's first electronic, voice-assisted trade of a container freight swap agreement settled in US dollars. The counterparties to the trade were Saxo Bank in Denmark as the buyer and a Netherlands-based trading house as the seller. ICAP Shipping was the broker of the trade. The container freight swap agreement was executed on ICAP's Webtrader platform, with manual input from ICAP Shipping brokers and cleared by LCH.Clearnet. The trade was executed by rugby star Lawrence Dallaglio during ICAP's 19th annual Charity Day.

Index-Linked Container Contracts Take-Off

Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks. Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts, according to the US Federal Maritime Commission (FMC). The agency also indicated that uptake of index-linked container contracts on US trades was fast growing. Index-linked contracts allow freight rates to be adjusted during the life of the agreement by reference to an external, independent market price index. Speaking at the Container Freight Derivatives Association’s (CFDA) Global Container Freight Forum in London last month…

Asia-N.Europe Box Rates Plunge 23.6 pct Last Week

File image: a containership docked at a U.S. West Coast Terminal.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 23.6 percent to $658 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. The drop in freight rates on the world's busiest shipping route had been widely predicted following a short-lived surge in spot rates in the previous week. Last week's level was 49 percent lower than in the same period of 2014. In the week to Friday…

TSC Container Freight Selects Rate Explorer

Management Dynamics, Inc. announced that TSC Container FreightT (www.tsccontainerfreight.com), a global provider of logistics solutions for both import and export customers, has selected Rate Explorer® from Management Dynamics to automate the buy and sell side of its NVOCC business. Rate Explorer will enable TSC Container Freight to increase bottom-line results as the company seeks to meet aggressive growth objectives over the next three years. TSC Container Freight Managing Director, Brad Heier, said, "As a large NVOCC and freight forwarder, we have seen many vendors and technologies promising to solve the contract management challenge, but always failing to deliver.

Drewry Expands Container Freight Rate Benchmarking

Drewry Maritime Research, the global leader in freight rate benchmarking, has expanded its flagship Container Freight Rate Insight publication and now provides freight rate benchmarks on 550 international trade routes. Published monthly, the report provides all-in spot rates on all the key shipping routes of the world, including both headhaul and backhaul trades. In  addition to the monthly report, subscribers also have access to an online database of both current and historical freight rate data dating back to January 2006. Drewry collects its proprietary freight rate data from active freight forwarders in the Far East, South Asia, the Middle East, Europe, the United States, Canada and South America, who provide their freight rates confidentially to Drewry.

Drewry and Cleartrade Exchange unveil World Container Index

London, May 5, 2011. Drewry and Cleartrade Exchange have today unveiled the World Container Index assessed by Drewry, a global index which can be used by physical and derivative market participants to manage freight risk. The index will report individual market prices on major East-West container shipping routes. Initially prices for 11 individual routes and a composite index will be reported each week. These will cover trade in both directions between Asia, North America and Europe.

Asia-N Europe Container Freight Rates Jumps 60%

Photo  Hamburg Sud

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the second consecutive week of rising freight rates on the world's busiest route. Container freight rates have so far increased in 5 weeks this year but fallen in 20 weeks. In the week to Friday, container freight rates jumped 39.4 percent from Asia to ports in the Mediterranean, rose 15.6 percent to ports on the U.S.

Asia-Europe Box Rates Plunge 23 pct

Shipping freight rates for transporting containers from Asia to Northern Europe fell 23 percent to $588 per 20-foot container (TEU) in the week ended Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. The fall came after two weeks with rising freight rates on the world's busiest route. Container freight rates have so far increased in 8 weeks this year but fallen in 27 weeks. In the week to Friday, container freight rates fell 29 percent from Asia the Mediterranean while they rose 0.3 percent to the U.S. West Coast and were down 0.1 percent to the U.S. East Coast. Average rates for 2015 are $664 per TEU, compared with $1,172 last year.

Asia-Europe Container Freight Rates Fell 2.7 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 2.7 percent to $719 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the fifth consecutive week of falling freight rates on the world's busiest route. Container freight rates have so far increased in 12 weeks this year but fallen in 36 weeks. A level below $1,000 is widely seen as loss-making for container shipping companies. In the week to Friday, container freight rates fell 3.9 percent from Asia to ports in the Mediterranean, and dropped 4.2 percent to ports on the U.S. West Coast and were down 1.4 percent to ports on the U.S. East Coast.

Asia-Europe Box Rates Fall 6.6 pct

File photo: containership underway.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.6 percent to $1.149 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. It was the second consecutive week of falling freight rates on the world's busiest route. Container freight rates have in 2014 increased in 13 weeks but fallen in 38 weeks. In the week to Friday, container freight rates fell 6.4 percent from Asia to ports in the Mediterranean, fell 5.2 percent to ports on the U.S.

Asia-Europe Container Freight Rates Fell 6.5 pct

image: file photo

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.5 percent to $938 per 20-foot container (TEU) in the week ended Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the fourth consecutive week of falling freight rates on the world's busiest route. Container freight rates have so far increased two weeks this year but fallen for five. In the week to Friday, container freight rates fell 6.1 percent from Asia to ports in the Mediterranean, fell 11.3 percent to ports on the U.S.

Asia-EuropeBox Rates Fall 5 pct

File Photo (Maersk)

Freight rates for shipping containers from Asia to Northern Europe fell by 5.1 percent in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. The rates fell to $1,003 per 20-foot container (TEU). It was the third consecutive week of falling rates on the world's busiest route. Container freight rates have so far increased in 2 weeks this year but fallen in 44 weeks. Container freight rates from Asia to ports in the Mediterranean fell 1.3 percent in the week to Friday. To ports on the U.S.

Asia-Europe Box Rates Drop 22.4 pct

A Maersk Containership underway (file image, credit: Maersk)

Shipping freight rates for transporting containers on the world's busiest route have dropped by more than 20 percent for the second consecutive week and are now at their lowest level since July 24. Spot rates fell 22.4 percent to $456 from ports in Asia to Northern Europe after a fall of 22.9 percent last week, one source with access to data from the Shanghai Containerized Freight Index told Reuters. Container freight rates have so far increased in 8 weeks this year but fallen in 28 weeks.

Allcargo switches to RTG operation with four Kalmar cranes in India

Allcargo switches to RTG operation with four Kalmar cranes in India. Cargotec has received an order for four all-electric, Kalmar E-One2 rubber-tyred gantry (RTG) cranes from Allcargo Logistics in India. The RTGs are scheduled to start operations in April next year. The order has been booked in the second quarter of 2011. Rapid growth in container traffic moving through the Indian ports has prompted Allcargo Logistics to convert container handling at its container freight station in Chennai and plan new facility near Mumbai using rubber-tyred gantry crane, each with two RTGs.

LLamasoft and Drewry Announce Partnership

Drewry’s Global Ocean Container and Air Freight Rate Benchmarks Available to LLamasoft Customers for Use in Supply Chain Modeling. LLamasoft, a global leader in supply chain design software solutions, and Drewry Maritime Research, the leading provider of freight rate benchmarking today announce a partnership to make Drewry’s global ocean container and air freight rate benchmarks available to LLamasoft customers for use in supply chain design. LLamasoft will resell Drewry’s Container Freight Insight (CFRI) and Sea & Air Shipper Insight (SASI) benchmarking products as part of the new LLamasoft Data Services offering. Drewry publishes container…

Global Freight Rates Plunge, Report Finds

Photo: Drewry

Average global freight rates have fallen to a 15-month low, according to Drewry’s new online Container Freight Rate Insight. Drewry’s Global Freight Rate Index fell 12% in April to reach its lowest level since February 2012, when container shipping was still recovering from the last ocean carrier price war. The Index, which is a weighted average of freight rates across the 600 trade routes covered by Drewry’s Container Freight Rate Insight, reached a new low of $2,065 per 40ft and has fallen 18% since the start of the year.

Troy Container Line Opens New Station in Savannah

Troy Container Line announced it will open a new container freight station on June 1, 2012 in Savannah, Georgia. Located just eight miles from the Port of Savannah, the new CFS location is strategically placed between Charleston and Miami, and offers enhanced convenience and service to the South Atlantic marketplace. The 175,000-square-foot facility includes 47 dock doors and a C-TPAT approved security system. It marks Troy Container Line’s twenty-first warehouse location in the continental U.S. and will conveniently serve the local market, as well as customers across six continents. “At Troy Container Line, we continually evolve to meet the needs of our growing client base,” commented Patricia L. Fitzgerald, COO of Exports. “In conjunction with our Charlotte, N.C.

Container Index Shows Large Hike in Asia-to-Europe Rates

London - Today’s Shanghai-to-Rotterdam container freight rate assessment from the World Container Index (WCI), a joint venture between Drewry and The Cleartrade Exchange, shows that container freight rates in the westbound Asia-Europe corridor increased by 28 percent this week, adding upwards pricing pressure on shippers only one month after the previous large rate increases. The World Container Index’s Shanghai-Rotterdam container freight rate sub-index went from $2,654 per 40-foot container on March 29 to $3,408 per 40-foot container on April 5, a rise of $754 per feu. Carriers in the key Asia-Europe head haul trade had announced General Rate Increases (GRIs) of about $400 per teu (or $800 per 40-foot container) from April 1.

Maersk Q3 Profit Falls

Photo: Maersk Group

Danish shipping and offshore energy conglomerate, Maersk Group, kept a reduced forecast made two weeks ago for a 2015 underlying profit of $3.4bn, down from the $4.0bn previously expected. The Danish  shipping giant  said on Friday that lower oil prices and lower average container freight rates had hurt its earnings. The Maersk Group – and especially Maersk Line – was severely impacted by continued low economic growth and significant market imbalances. Global container demand is expected to have grown by 0-1%, whereas the global container fleet grew by almost 9%.

Maersk Q3 Profit Drops

The Maersk Group delivered an underlying profit of USD 662m in the third quarter

The Group delivered a profit of USD 778m (USD 1.5bn) negatively impacted by the lower oil price and lower average container freight rates, down 51% and 19% respectively compared to the same period last year. The return on invested capital (ROIC) was 7.6% (12.7%). The underlying profit was USD 662m (USD 1.3bn). “The Maersk Group delivered an underlying profit of USD 662m in the third quarter. The decline of nearly 50 percent compared to last year was primarily due to container freight rates deteriorating to a historically low level…

WCI Backhaul Routes Listed for Clearing

Major boost for swaps liquidity as WCI backhaul routes are listed for clearing. Introduction of clearing for new Europe-Asia routes will bring significant additional trading potential to container derivatives market. The World Container Index is pleased to announce that two WCI route assessments, covering Los Angeles to Shanghai and Rotterdam to Shanghai will now be cleared by LCH.Clearnet. The addition of clearing, which provides risk management for over-the-counter container freight swap trades, has been made in response to increased demand to manage freight price risk and reflects the growing market acceptance of the WCI. Since launch in September 2011…

Carriers have Withdrawn Extremely Low Spot Market Freight Rates - Drewry

Figure 1. Major routes where rates have bottomed out (all-in rates in US$ per 40ft container)Note Rates include BAF and THCs at both ends Source Drewry Container Freight Rate Insight (www.drewry.co.ukcfri)

Drewry’s Global Freight Rate Index, a weighted average of spot container freight rates across all major routes except intra-Asia, swung back in July by 13% to reach $1,403 per 40ft box. The global spot rate index had dropped to an all-time low of $1,113 per 40ft container in April. Drewry is in a unique position to track these trends through its Container Freight Rate Insight online platform, via which a constant panel of over 30 forwarders and NVOCCs report rates on a continuous basis.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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