Marine Link
Wednesday, January 17, 2018

Container Shipping Lines News

Container lines earned $42 less per TEU

Notes US Trade based on USD per forty foot unit' -FEU

The container shipping lines received an average rate 7% (USD 42) lower in 2016 than in 2015, if they operated in the spot market on all Shanghai Containerized Freight Index (SCFI) trade routes. This has primarily been due to the devastating low rates received in the first half of 2016, as the average rate received in H2 2016 was 22% higher than the rate received in H2 2015. The freight rates managed to gain momentum through second half of 2016, due to measures taken from the shipping lines in terms of network optimisation, scrapping and more careful deployment around the peak season.

COA Appoints STX Panocean's Kwon to BoD

The Container Owners Association – the international organization representing container shipping lines and container leasing companies worldwide – has appointed Mr O I Kwon, Senior Vice President – Container Business Management Division, STX Panocean Co Ltd, to its Board of Directors. Mr Kwon joins six other Directors, who represent some of the world’s largest container owners, on the Board of the Container Owners Association. “It is a great honour – both for me personally, and for my company STX Panocean - to join the COA Board,” Mr Kwon says. “This position carries considerable responsibility and I will do my best to promote the COA in Asia and to support the wide range of initiatives that the COA is working on.

Hanjin Makes Maiden Call to Boston

Hanjin Milano made its maiden call at Conley Terminal Friday (Photo: Massport)

The containership Hanjin Milano made its maiden call at Conley Terminal Friday, the Massachusetts Port Authority (Massport) announced. This is the first time that Hanjin Shipping has called the Port of Boston directly, opening a new channel of economic impact for the region. “The Port of Boston is the waterborne trade gateway for New England and a primary economic engine for the Commonwealth of Massachusetts,” said Thomas P. Glynn, Massport CEO. “As we work to dredge the harbor, the addition of new ships and new lines demonstrates that New England continues to be a strong market.

Container Lines Plan Pacific Freight Rate Rise

Photo courtesy CMA CGM

Container shipping lines have agreed to raise Asia-U.S. freight rates by $300 per 40-foot container (FEU) to west coast ports of the U.S. and by $400 to all other ports in the U.S from May 15. The increase was agreed by companies in the Transpacific Stabilization Agreement (TSA) which also adopted a $400 per FEU peak season surcharge effective June 15, the TSA said in a statement. The TSA groups 15 of the world's biggest container shipping lines, including Denmark's Maersk Line, a unit of A.P.

COSCO Records H1 Profit on Improving Market

File Image (CREDIT: AdobeStock / (c) Marina Ignatova)

COSCO Shipping Holdings expects to post a profit of around 1.85 billion yuan ($272 million) in the first half, helped by an improving shipping market. The world's fourth-largest container shipping line made the forecast in a stock market statement on Thursday. It recorded a loss of 7.2 billion yuan in the same period last year. "Freight rates for container shipping operations have increased year-on-year, container volumes have grown 34.72 percent, and earnings have continued to grow from the base set in the fourth quarter of last year," it said.

Container Lines To Impose Surcharges

Container shipping lines operating on the Atlantic will reportedly start imposing surcharges to reflect rising bunker fuel costs. A bunker adjustment factor of $21 per 20 ft container and $42 per 40/45 ft container for traffic to and from U.S. Atlantic/Gulf coast ports will be added from October 13, the Trans-Atlantic Conference Agreement (TACA) said. Meanwhile, container shipping lines in the North Europe - Asia eastbound management agreement (EMA) will raise freight rates beginning Oct. 1, a result of improving business. The carriers have confirmed a $200 per container across the board increase.

Members Of Grand Alliance To Add U.S.-Asia Service

Container shipping line members of the Grand Alliance reportedly will improve their service between North Asia and the U.S.

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

TSA Containership: Photo Evergreen Line

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.

Evergreen Line Makes Maiden Call to Boston

ItalLunare docked at the Port of Boston

Evergreen Line’s ItalLunare celebrated its maiden call to the Port of Boston with an official first call and plaque presentation on Wednesday, the Massachusetts Port Authority (Massport) announced. This is the first time Evergreen Line has called Boston directly in nearly 30 years. “The ItalLunare was bringing more than just cargo when she arrived at Conley Terminal this week,” said Massport CEO Thomas P. Glynn. Evergreen, the fourth largest container shipping line in the world by capacity…

Transpacific Box Shippers Plan Freight Rate Rise

Photo: Maersk Line

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned increase was part of an ongoing effort by members to reverse a decline in spot rates in the Asia-U.S. freight market. The organisation also said container shipping companies should reinstate a $400 per FEU peak season surcharge ahead of the Chinese Lunar New Year, with effect from Jan. 15.

Transpacific Container Shippers Plan Price Rise

File photo: containership at dock.

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned increase was part of an ongoing effort by members to reverse a decline in spot rates in the Asia-U.S. freight market. The organisation also said container shipping companies should reinstate a $400 per FEU peak season surcharge ahead of the Chinese Lunar New Year, with effect from Jan. 15.

Transpacific Container Shippers Aim for Rate Rise

Photo: Maersk

A container shipping organisation urged companies on Monday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU), corresponding to an increase of 14.2 percent from current levels, from Sept. TSA (Transpacific Stabilization Agreement) said the planned increase follows strong cargo demand and high vessel utilization levels in recent months, which forward bookings suggest will continue through September. Its members include 15 of the world's biggest container shipping lines such as Denmark's Maersk Line, a unit of A.P.

Atlantic Container Rates To Soar

Starting next year, the price to ship a container across the Atlantic ocean is to soar, as container shipping lines on the Atlantic will be seeking hefty rate increases s next year. Rates for 20 foot containers heading westbound to U.S. Atlantic, Gulf and Pacific ports would rise by $600 from January 1, 2000, carriers in the Trans-Atlantic Conference Agreement (TACA) said. For 40 and 45 ft units the increase would be $750, they said. Eastbound rates from Atlantic and Gulf ports would rise by $160 per 20 ft container and $200 for the larger units, and by $240 and $300 from Pacific ports. The increases reflected a continuing inadequate return on capital deployed in providing Atlantic shipping services, the carriers said.

COA Appoint Panocean V-P to Board

The Container Owners Association (COA) appoints O. I. Kwon, Senior V-P, Container Business Management Division, STX Panocean, to its Board. The Container Owners Association (COA) was established in November 2004 as an international organisation representing the common interests of all owners of freight containers, worldwide. It has over 165 Members, including container shipping lines, leasing companies, intermodal operators and suppliers of a wide range of container equipment and services. Mr Kwon joins six other Directors, who represent some of the world’s largest container owners, on the Board of the Container Owners Association. "“It is a great honour – both for me personally, and for my company STX Panocean - to join the COA Board,”" Mr Kwon said.

Atlantic Container Rates To Soar

Starting next year, the price to ship a container across the Atlantic ocean is to soar, as container shipping lines on the Atlantic will be seeking hefty rate increases s next year. Rates for 20 foot containers heading westbound to U.S. Atlantic, Gulf and Pacific ports would rise by $600 from January 1, 2000, carriers in the Trans-Atlantic Conference Agreement (TACA) said. For 40 and 45 ft units the increase would be $750, they said. Eastbound rates from Atlantic and Gulf ports would rise by $160 per 20 ft container and $200 for the larger units, and by $240 and $300 from Pacific ports. The increases reflected a continuing inadequate return on capital deployed in providing Atlantic shipping services, the carriers said.

Trans-pacific Container Shipping Group Aims for Rise in Rates

Photo: CMA CGM

Container shipping companies were urged to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) with effect from Aug. 1, their organisation TSA said on Wednesday. Members of the TSA (Transpacific Stabilization Agreement) include 15 of the world's biggest container shipping lines such as Denmark's Maersk Line, a unit of A.P. Moller-Maersk , privately owned Switzerland-based Mediterranean Shipping Company (MSC), French privately held CMA CGM, China's COSCO, Korea's Hanjin Shipping and others.

Asia-Pacific Container Shipping Rate Hike on the Cards

Container ship: Photo APL

Container shipping companies were urged to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) with effect from Aug. 1, their organisation TSA said on Wednesday. Members of the TSA (Transpacific Stabilization Agreement) include 15 of the world's biggest container shipping lines such as Denmark's Maersk Line, a unit of A.P. Moller-Maersk , privately owned Switzerland-based Mediterranean Shipping Company (MSC), French privately held CMA CGM, China's COSCO, Korea's Hanjin Shipping and others.

Transpacific Container Shippers Plan Freight Rate Rise

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Feb. 9, and indicated that it will follow with a second $600 per FEU increase on March 9. TSA (Transpacific Stabilization Agreement) said the planned increase follows strong cargo demand through the typically slower winter season and heading into the Lunar Yew Year holidays. The recommended freight rates hike correspond to an increase of respectively 30.3 pct. and 23.3 pct. Members of TSA include 15 of the world's biggest container shipping lines such as Denmark's Maersk Line, a unit of A.P.

Boxship Firms Sign up with Alibaba

File Image: A CMA CGM boxship condusting cargo operations alongside (CREDIT: Marad)

Two container shipping lines, France's CMA CGM and Israel's Zim, have signed up with Alibaba to allow customers to book space on their vessels through the Chinese e-commerce giant, in a bid to boost sales as the sector battles a severe downturn. Container lines, facing their worst ever downturn due to a glut of ships and weaker demand, are pursuing several measures such as vessel-sharing arrangements or mergers and acquisitions to ride out the current slump. A growing number of logistics firms are going online to buoy their business.

Maersk Sees Rise in Asia Trade Volume

Pic: Maersk Line

The world's biggest container shipping line Maersk Line  by capacity estimates  up to a 15% increase in container volumes from Asia to the rest of the world in early 2016, which could indicate that industry demand is on the rise, despite recent issues with weak demand and swelling overcapacity, according to The Wall Street Journal. Robbert Van Trooijen, CEO of Maersk Line Asia Pacific, said, “There has been more demand certainly this time around than it was last year. That in itself is a positive sign of a good start to the year.

Hyundai Drive Made First Call to Hamad Port

Photo: Qatar Ports Management Company​

Qatar’s Hamad Port announced the addition of a new service from South Korean shipping line Hyundai Merchant Marine (HMM) to its growing network list, QNA reported. HMM’s 365.5-metre-long ‘Hyundai Drive’ made its first call to Hamad Port, marking the official start of a new Hyundai Merchant Marine’s KME (Korea Middle East Express) service. It is the largest container vessel to make its maiden call in Qatar since the opening of Hamad Port. The vessel from Kwangyang Port in South Korea arrived at Hamad Port in the container terminal CT1.

Maersk Corporate Movie Released

Maersk draws attention to its corporate movie featuring the A.P. Moller Maersk Group's shipping, terminals & oil exploration and production activities Shot in 40 cities across 20 countries, the movie touches on the "mountains" moved each day by the world's biggest container shipping line, the economic boost APM Terminals brings growth economies and the technical precision of Maersk Drilling. The movie can be seen online here.  

MSC to Start Oman-Qatar Shipping Service

Swiss-based MSC will offer a new shipping service to Qatar from Oman, the world’s No.2 container shipping line said on Monday, a week after Gulf states imposed port and trade restrictions on Doha. "MSC never stopped accepting bookings to Qatar as it investigated alternative routing options," the privately owned group said in a statement.   (Reporting by Jonathan Saul)

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