Marine Link
Tuesday, January 23, 2018

Ocean Freight News

Damco Names de Vroet Global Head of Ocean Freight

Damco, the logistics arm of the A.P. Moller – Maersk Group, appointed Diederick de Vroet as its Global Head of Ocean Freight. A Dutch national with more than two decades of experience in sales, air, ocean and general management, de Vroet will play a significant role in building the structure of Damco’s global carrier management team. His appointment was effective on October, 2010 and he is based in Copenhagen. Before joining Damco, de Vroet worked for more than 20 years with Kuehne+Nagel International where he was responsible for the ocean freight operations as well as sales and airfreight during different management positions throughout Europe and Asia.

U-Ocean Adds Oceanfreight Consols

Less than a year after U-Ocean, the oceanfreight arm of global freight forwarder the U-Freight Group (ufl) launched scheduled oceanfreight export consolidation services from New York, Chicago and Los Angeles to Hong Kong, the global operator is undertaking a major expansion of the services that will boost its coverage of key markets throughout South East Asia. Early in 2008, weekly oceanfreight operations were established to serve markets in South East Asia via transhipment through the Hong Kong gateway, while a Los Angeles to Shanghai service was added in June 2008. Later this year, U-Ocean also plans to launch separate oceanfreight consolidation services connecting San Francisco with Hong Kong and Shanghai.

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.

Drewry Launches e-Sourcing Solution

Drewry, an independent research and consulting firm to the shipping sector, has launched a new e-Sourcing solution for global ocean transport exporters and importers. The new e-Sourcing Ocean Freight Solution (eSOFS) combines Drewry’s freight rate benchmarking intelligence, industry expertise with new technology to bring speed and efficiency to ocean freight sourcing events, the firm explained. Faced with increasingly complex, data-intensive product flows and budgetary constraints, ocean transport logistics managers within multinational retailers and manufacturers have been seeking a more efficient and cost effective process to handle procurement activities. Drewry said its eSOFS solution provides the flexibility and analytical capabilities to ensure well informed procurement decisions.

Dachser USA Names New Director of Ocean Freight

Dachser Transport of America Inc. (Dachser USA), the U.S. division of one of the world's leading global logistics service providers, today announced it has appointed John Barbasetti di Prun Director of Ocean Freight for the United States. In his new role, Mr. Barbasetti di Prun will oversee all ocean freight forwarding operations for Dachser USA's growing client base. Dachser has recorded very strong growth in the United States, with sales increasing to more than US$108 million last year. U.S. companies are attracted to Dachser's extensive international logistics network backed by strong management experience and a family-based approach to the business.

SBS Worldwide Enhances Services

Global full service freight forwarder, SBS Worldwide launched a key ocean freight consolidation service through the US West Coast gateway for its customers in the north of the UK through its Manchester office, the first of a series of planned enhancements this year. Chairman, Steve Walker is certain that as the economic chill hardens, exporters and importers in one of the most important commercial, industrial and retail regions of the UK will welcome his company’s improved services. “During January, we introduced a Los Angeles/Liverpool consolidation service with a 17 day depot to depot transit time,” he said.

Schenker: Focus on Ocean Forwarding

Schenker. Inc., an integrated logistics provider is in the process of restructuring its Hanover, Md., office to better service its ocean customers. Schenker offers a complete range of ocean freight services for all types of cargo - consolidated or full-container shipments, full and partial charters, RoRo, and barge cargo transportation. The Port of Baltimore is strategically located in the Mid-Atlantic region of the U.S. east coast, making it the closest Atlantic port to major Mid-western locations. Schenker plans to take advantage of its location and has added additional salespeople to concentrate on bringing in new and additional business from existing customers. "It is important to get our ocean freight services known to the general public.

Ocean Freight Shipping Rates on the Rise

After a downtrend in the freight shipping tanker market since the middle of 2007, the industry has seen nothing but rate increases in the last month. The cost of freight shipping can mean an increase in the cost of many consumer products, according to FreightBrokering.info, which is why it's so important to keep freight transportation costs down. There are many reasons why the costs of ocean freight shipping have increased. Indian Oil Corporation recently paid $9 million in freight transportation charges for shipping crude oil on a very large crude carrier from West Africa to Vadinar, India. The high freight rate was a result of oil firms scrambling to hire ships before the holiday season started, leading to a shortage of ships.

Online Retailer Amazon Expands into Ocean Shipping

Amazon.com Inc's China arm has registered as an ocean freight forwarder, according to the U.S. Federal Maritime Commission, a move that will give it more control over shipping products from Chinese factories to U.S. shoppers. The registration is the latest indication that Amazon plans to expand its logistics reach to cut costs for its retail business and potentially provide third-party logistics services to other industries. Its new status as a freight forwarder, or "non-vessel operating common carrier," gives Amazon, the world's largest online retailer, a foothold in the $350 billion a year ocean freight business. It will not operate ships but subcontract that work.

DryShips Acquires OceanFreight Inc.

DryShips Inc. (NASDAQ: DRYS) and OceanFreight Inc. (NASDAQ: OCNF) announced that DryShips has acquired 3,000,856 shares of OceanFreight Inc. The shares were acquired from entities controlled by Mr. Anthony Kandylidis, the CEO of OceanFreight, under a purchase agreement entered into on July 26, 2011. OceanFreight. The consideration paid by DryShips for each OceanFreight share consisted of  (x) $11.25 in cash and (y) 0.52326 shares of common stock of Ocean Rig UDW Inc, par value of $0.01 per share, with cash paid in lieu of fractional shares. The total consideration paid for those shares was $33,759,671.08 in cash and 1,570,226 shares of Ocean Rig common stock. The Ocean Rig shares so transferred were outstanding shares held by DryShips.

FMC Collects $338,000 In Penalty Payments

Photo: FMC

Federal Maritime Commission Chairman Mario Cordero announced that the Commission has completed compromise agreements recovering a total of $338,000 in civil penalties. The agreements were reached with one vessel-operating common carrier and six ocean transportation intermediaries (both non-vessel-operating common carriers and ocean freight forwarders). The agreed-to penalties resulted from investigations conducted by the Commission’s Area Representatives in Houston, Seattle, South Florida, and New York, and by Washington D.C. headquarters staff.

DryShips to Acquire OceanFreight

DryShips Inc. and OceanFreight Inc. have entered into a definitive agreement. The former will acquire the outstanding shares of the latter for consideration per share of $19.85, consisting of $11.25 in cash and 0.52326 of a share of common stock of Ocean Rig UDW Inc. The Ocean Rig shares that will be received by the OceanFreight shareholders will be from currently outstanding shares held by DryShips. Under the terms of the transaction, the Ocean Rig shares will be listed on the Nasdaq Global Select Market upon the closing of the merger. Based on the July 25, 2011 closing price of 89.00 NOK ($16.44) for the shares of Ocean Rig on the Norwegian OTC…

DryShips and OceanFreight Complete Merger

DryShips Inc. (NASDAQ: DRYS) and OceanFreight Inc. (NASDAQ: OCNF) announced today that following approval by OceanFreight's shareholders at a special meeting, the companies have completed the merger and OceanFreight has become a wholly-owned subsidiary of DryShips. Under the terms of the merger agreement, OceanFreight shareholders will be entitled to receive $11.25 in cash and 0.52326 of a share of common stock of Ocean Rig UDW Inc., a global provider of offshore ultra deepwater drilling services, for each share of OceanFreight common stock owned by them.

Logistics Industry Veteran Julian Velez Joins HOT

julian Velez: Photo HOT

Hawaiian Ocean Transport (HOT) say it has strengthened its core management team by hiring Julian Velez as its new business development manager. The company inform that as the new development manager, julian Velez will bring new perspectives and extensive knowledge from his 7 years of experience as a leader in the transportation industry. Prior to joining Hawaiian Ocean Transport, Inc. Velez most recently held the position of Solutions Specialist & Sales Manager for Old Dominion Freight Line.

East-West Shippers See First Increase in Contract Rates

Graph: Drewry Shipping Consultants Limited

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.

Ocean Freight Contract Management Post-P3

Intermodal container lift: File photo

The recent decision by Chinese antitrust authorities to block approval of the P3 Ocean Carrier Alliance has increased the demand for Ocean Contract Management. In response, Freightgate is offering free demonstration of its award winning Rate & Tender Management Tariff-Trek! Solution. The proposed mega-alliance by the world’s three biggest shipping - Maersk, Mediterranean Shipping Co and CMA CGM would have created common tariff pricing to most of the world’s ocean ports. It was estimated the P3 alliance would have controlled 42 percent on the Asia-to-Europe route…

Tanker Delivered to Oceanfreight

OceanFreight Inc. to acquire in December 2007. term. completes the first phase of our growth strategy. revolving credit facility.

Oceanfreight Announces Delivery of Drybulk

OceanFreight Inc., a provider of seaborne transportation services announced that it has taken delivery of the MV Augusta and the MV Richmond under the Company's previously announced purchase agreements concluded in August and June 2007 respectively. The MV Richmond, a 1995 built 75,265 dwt Panamax bulk carrier was delivered to OceanFreight on December 7, 2007 and immediately commenced the previously announced time charter for a period of between 24 to 28 months at a gross daily rate of $29,100. The MV Augusta, a 1996 built 69,053 dwt Panamax bulk carrier was delivered to OceanFreight on December 17, 2007 and immediately commenced the previously announced time charter for a period of between 11 to 13 months at a gross daily rate of $61,500.

Ocean Freight Claims Administrative Appeal Process

The U.S. Agency for International Development (AID) and the Commodity Credit Corporation jointly issued a proposal to establish an administrative appeal procedure with respect to ocean transportation cargo loss and damage claims arising under shipments of agricultural commodities made through either agency. Comments on the proposal should be submitted by April 2, 2003. 68 Fed. Reg. 9944

East-West Shippers see Acceleration in Container Contract Rate Cuts - Drewry

Photo AFP

Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of 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, has now declined by 29% in the year to May…

East-West Shippers See Acceleration in Container Contract Rate Cuts

Image: Drewry

Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of 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, has now declined by 29% in the year to May…

Canada Maritime Wins Accolades Again

For the third year in a row, Canada Maritime has been named ‘Carrier of the Year - Ocean Freight’ by the Canadian International Freight Forwarders Association (CIFFA). Trade Lane’. same three Eastern Division top honors. The honors, announced at CIFFA's annual Forwarders' Choice Awards ceremony held recently in Montreal, are the result of a vote by CIFFA's members. Terry Burrows, Senior Vice President of CP Ships commented: “We are delighted that we are able to celebrate our third win in a row with no fewer than three separate awards.

INTTRA Introduce Enhanced Multi-Carrier Ocean Schedule Software

INTTRA announce major enhancements to OceanSchedules, the ocean shipping industry’s comprehensive multi-carrier scheduling solution. With this release, INTTRA customers can now access and evaluate over 7 million global vessel schedules from 31 carriers with a new option for integrating OceanSchedules within existing applications and support for additional data formats for customers who want to load data directly into their systems. It now offers companies of any size the widest array of options for accessing, evaluating and choosing the voyage that best meets their needs from a single source. Included in this release of OceanSchedules is a new delivery format that supports the requirements of SAP’s Transportation Management Solution.

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

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News