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Saturday, January 20, 2018

General Rate News

Maersk Increase Transatlantic Container Rates

Maersk Line announce that they find it necessary to implement general rate increases from the base rate. The new container freight rates will be effective 1, April 2013 as follows: US to Northern Europe General Rate Increase: USD 200/300/300/300 per 20′/40′ standard/40′ high cube/45′ high cube dry Northern Europe to East and Gulf Coast of US General Rate Increase: USD 200/300/300/300 per 20′/40′ standard/40′ high cube/45′ high cube dry Northern Europe to West Coast of US General Rate Increase: USD 400/500/500/500 per 20′/40′ standard/40′ high cube/45′ high cube dry Maersk Line adds that the increase is a necessary measure to meet service requirements.  

Horizon Announces General Rate Increase for Hawaii Cargo

Horizon Lines, LLC announced that it will file a General Rate Increase with the Surface Transportation Board to raise its ocean freight rates for the company's Hawaii service effective January 2, 2006. The amount of increase to be filed varies depending on a number of factors, including rate basis of the ocean freight and the direction and mode of transport.

Global Shipping in Doldrums

Photo: Maersk Line

Wells Fargo Securities says that headwinds face global shipping industry and the continued overcapacity means freight rate gains are less likely to stick. "Given the continued overcapacity headwinds and easing containerized trade demand, we believe these freight rate gains are less likely to stick, and we expect rates to remain under pressure as we approach the slack winter season, particularly following a muted peak season," says a report from Wells Fargo Securities, written by Michael Webber that appeared in the Forbes.

Maersk Hikes Rates on Two Trade Routes

Maersk Line has announced it will implement container General Rate Increases on its Transatlantic & Asia/US routes as follows: With effect from July 1, 2013, the Transatlantic trade between North Europe and North America  will be increased by US$200 per dry container. Maersk Line will also implement a General Rate Increase for the Middle East, India & Pakistan to United States and Canada trade lane with an effective date of July 3, 2013. Rate increase amounts are as follow for all dry cargo:     •    USD 300 per 20′     •    USD 400 per 40′ standard     •    USD 450 per 40’ highcube     •    USD 505 per 45’ The scope of the increase applies to all dry cargo from the Middle East, India & Pakistan regions to the United States and Virgin Islands(US) and Canada.  

General Rate Increases, Transatlantic Trade

Since rates are at an unsustainable level in the transatlantic trade, Maersk Line announced a general rate increase effective 1 September 2009. The company said the rate increase is necessary to continue to operate its services with the same level of reliability. The filed increase is as follows: •    $400 per 20 ft container •    $500 per 40 ft/high cube/45 ft container The increases apply equally to all Eastbound and Westbound cargo moving between the US & Canada and Northern Europe.

MOL Announces GRI

MOL (Mitsui OSK Line), one of the world’s largest shipping lines said it plans a general rate increase for all cargo moving westbound from Asia and the Indian Subcontinent (including Japan) to northern Europe and the Mediterranean. The new rate of $250 per TEU will become effective 1 October 2009, the company said. The GRI is applicable to all commodities and equipment, including reefer containers. (www.MOLpower.com)

MOL Announces GRI

MOL (Mitsui OSK Line) said it plans a general rate increase for all cargo moving southbound from Europe North Continent and Mediterranean to West Africa. The new rate of $219.4 per TEU will become effective 15 October 2009. The GRI is applicable to all commodities and equipment, including reefer containers. (www.MOLpower.com)

P&O Nedloyd Raises Canadian Box Rates

P&O Nedlloyd will raise rates on its westbound Canada service twice early next year. An increase of $200 per 20 ft container (teu) and $250 per 40 ft container (feu) would be sought from January 1. A second general rate increase of $250 per teu would apply from April 1. heavy interest payments.

Maersk Line Increases Rates

Maersk Line will be implementing a general rate increase on the Eastbound Mediterranean trade from the East Coast and Gulf ports of North America to Mediterranean ports. The increase will apply for all cargo under Maersk Line independent tariffs and service contracts as agreed with our customers individually. The level of increase will be $400 per 20-ft. and $600 per 40-ft. applicable on dry cargo and will be effective 15 November 2007.

Rate Increase, Transatlantic Trade

As a result of market instability in the transatlantic trade, Maersk Line is announcing the following general rate increase, effective 1 April 2009. The filed increases are as follows between Northern Europe and the East Coast and Gulf Coast of North America: •    $160 per 20 ft dry container •    $220 per 40 ft container/high cube/45 ft container/reefer The filed increases are as follows between Northern Europe and the West Coast of North America: •    $200 per 20 ft dry container •    $300 per 40 ft container/high cube/45 ft container/reefer  The increases apply equally to all Eastbound and Westbound cargo moving between the US & Canada and Northern Europe.

Maersk Line to Increase US Gulf/WCSA Freight Rate

Photo courtesy of Maersk Line

Maersk Line informs its customers it will be implementing a General Rate Increase (GRI) for dry cargo shipments from Houston, TX and New Orleans, LA to West Coast South America. All dry cargo shipments loading from Houston, TX and New Orleans, LA to Chile, Colombia, Peru, Ecuador and Bolivia will be increased by the following amounts and scope, with an effective date of September 16, 2013:     •    USD 150 per 20’ container     •    USD 150 per 40’ container     •    USD 150 per 45’ container (Colombia only)  

Novorossiysk: New Tonnage Dues Rates

Photo courtesy Novorossiysk Commercial Sea Port

GAC informs that tonnage dues rates in the port of Novorossiysk will be increased about 9% with effect from April 27, 2014.

Sea Star Line Announces Rate Increases

Sea Star Line announced that it is implementing a general rate increase, effective April 1, 2012. The general rate increase of 3.5 percent  increase will be administered on shipments between U.S. ports and Puerto Rico. Sea Star Line cited escalating operational costs as the main driver for the increase. “Sea Star Line remains committed to the Puerto Rico trade and needs to implement rate increases and other activities to help to ensure continued profitability. This will position Sea Star Line to continue to reinvest in the Puerto Rico trade,” said Mike Nicholson, vice president of Strategic Planning & Yield Analysis. Effective March 5, 2012, a new chassis program is effective for shipments moving to and from the Northeast United States (NY/NJ/PHL Region).

Commodity Rate Restoration, Europe to Asia

Unsustainable rates and improved demand lead to rate increases effective 1 March and 1 April 2009. The General Rate Increase will be $25 per TEU thus totaling $50 per TEU. During the Q4 2008, the industry has experienced declining freight rates in the Europe to Asia trade, a trend that has continued into 2009. In addition, hereto, there are now indicators that demand is increasing due to amongst others the weak Sterling and Euro. As a result of increasing costs associated with the growing demand and to ensure sustainable freight rates, Maersk Line will enact a commodity rate increases for export cargo from Europe to Asia.

MOL Announces GRI on Europe –S. Africa

MOL (Mitsui O.S.K. Line) announced a general rate increase (GRI) on its Europe – Southern Africa trade. “We are committed to maintaining high service levels even during these difficult economic times,” said Colin de Souza, MOL General Manager, North South Trade. Mr. de Souza explains that MOL has already undertaken as many measures as possible to become more efficient and cost-effective within its own organisation. MOL has informed customers that a GRI of $200 per TEU will apply from the beginning of October on both north and southbound legs. MOL’s weekly SRX Europe North Continent – Southern Africa service calls Rotterdam, Tilbury, Bremerhaven, Las Palmas, Cape Town, Pt.

MOL Rate Restoration Program

On Feb. 9, MOL announced the implementation of a general rate restoration program on the Asia Europe trade to maintain high service levels during the current economic climate. While increased freight rates are never very popular, the current downward trend is completely unsustainable and MOL is confident customers will recognize the need to maintain stability and viability in their supply chain operations over the long term. MOL has already significantly cut capacity from its global liner services, including the Asia Europe trade, to help reduce the imbalance between supply and demand.

Asia-Europe Box Rates Plunge 25 pct

A Maersk containership (file photo: Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 24.9 percent to $833 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. The drop came after the previous week's increase of 177 percent which was a result of most of the major container shipping companies implementing a general rate increase from Aug 1. Freight rates on the world's busiest…

Maersk New Service and General Rate Increase

Maersk announced a new service between East Med and Central Europe via the Adriatic Sea called Adriatic Levant Express or ALEX. Maersk is deploying two vessels on the new service to offer a solution to the East Mediterranean reefer market with departures from Alexandria (Egypt) and Ashdod (Israel) to Central Europe. ALEX will phase in from Ashdod, 18 November 2009. The rotation will be Alexandria (Egypt), Ashdod (Israel), Koper (Slovenia), Ravenna (Italy), Piraeus (Greece), Limassol (Cyprus), and Alexandria (Egypt). Maersk Line also announced a general rate increase effective 15 November 2009 in the South Asia/Middle East to Europe trade.

APL Intra-Asia Freight Rate Increase

Container shipping line APL announced plans for a general rate increase in the Intra Asia trade.  The proposed increases will affect all trade from the Far East to India and Pakistan. The rises will be $100 per 20 ft container and $200 per 40-ft container and are effective 1 March 2010. APL said operating conditions in the Intra-Asia trade remained highly challenging, with freight rates at unsustainably low levels. The rate increases are, therefore, essential for APL to sustain its comprehensive service offering in the trade and to ensure the high level of reliability that customers demand from the carrier. (www.apl.com)

Horizon Lines 1Q Profit Rises

Horizon Lines Inc., which operates a fleet of containerships and a logistics business, said Thursday its first-quarter profit rose sharply, boosted by a tax gain and rate increases that helped offset weaker freight volumes. Quarterly earnings increased to $7.1 million, or 21 cents per share, from $2.4 million, or 7 cents per share during the same period last year. Excluding tax-related gains from both periods, the company earned $4.5 million, or 13 cents per share in the latest quarter, and $3.6 million, or 11 cents per share a year ago. Revenue fell modestly to $273.7 million from $274.9 million. Analysts expected revenue of $286.2 million.

Mediterranean Shipping Co. Rate Increase

Mediterranean Shipping Company (MSC) will file a General Rate Increase (GRI) of $160 per 20 ft container and $200 per 40 ft unit on all cargo moving from Europe to the USA. The company will also file a GRI of $200 per 20 ft unit and $250 per 40 ft unit applicable to freight moving from  Italy, Spain and Portugal (Western Mediterranean service)  to the USA, all coasts. These new rate increases go into effect April 1, 2009. Mediterranean Shipping Company is a privately-owned company based in Geneva, Switzerland. As of early January 2009, MSC was operating 419 container vessels with an intake capacity of 1,460,000 TEU's. 

Mediterranean Shipping General Rate Increase

Mediterranean Shipping Company announced a General Rate Increase that will affect westbound freight moving from the USA to Asia effective January 1, 2010.

15 Carriers Agree to EU's GRI Modifications

Photo: Maersk Line

15 container liner shipping companies have said they will stop publishing and communicating general rate increases (GRIs) that are expressed solely as an amount or percentage of the change, says the European Commission. Shipper representatives have welcomed an agreement by  the container lines to abandon GRIs in favour of a new pricing announcement mechanism following a two-year inquiry by the EU into possible competition infringements – alleged “price signalling” – by lines.

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