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INDUSTRY observers are telling shipping lines that unless they maintain discipline, and carefully match demand with supply, a rate war is likely to ensue. In comments made at Amsterdam's Intermodal Europe 2010 conference, Box Trade Intelligence analyst Doug Bannister, who once oversaw UK operations for Maersk, and Arthur Worsley, an FIS container deriv...
Singapore: Average box rates reported by Neptune Orient Lines (NOL) have continued to fall. NOL said that for the period 16 October to 12 November average revenue per feu for the line was $2,797 compared to $2,916 per feu in the previous four week period. The company said the drop was mainly attributable to the Asia – Europe and Asia – Red Sea t...
Shanghai: Dong Lin, general director of Chongqing-based Chinese steelmaker Chongqing Iron and Steel Group (Chongqing Steel), has stated that the group is currently building China’s largest shipbuilding steel production base. In the first half year of 2010, Chongqing Steel’s shipbuilding steel facility in Dadukou was relocated to Changshou Ne...
Mumbai: A Bangladeshi ship has been hijacked by suspected Somali pirates in the Arabian Sea, some 550km off Kochi, in what is being seen as a wake-up call for India. Heavily armed pirates chased MV Jahan Moni and attacked it twice within 90 minutes on Sunday before managing to get on board, officials said. Anti-piracy teams from Dubai and Singapore, as ...
DENMARK's United Nordic Shipping (UNS) and Singapore's Keystone Logistic Services have announced an alliance called UNS (Asia) to cover their activities in the Asia-India-Oceanic region effective January 1. "To have our own set-up in Asia was part of the original plan for United Nordic Shipping, and we are very happy to team up with Keystone, a profes...
SINGAPORE's APL announced it has handled 441,600 TEU in the four weeks ending November 12, up 3.1 per cent 13,600 TEU from 428,000 TEU the month before. But rates were down four per cent to US$1,399 per TEU from $1,458 four weeks ago, indicating a downward trend for rates has been formed over the past three months. Rates have dropped 12 per cent from t...
THE CKYH Alliance, comprising of Cosco, "K" Line, Yang Ming and Hanjin Shipping, has announced a plan to launch its sixth Far East-US east coast service in 2011. The exact schedule and port rotation of the new AWE-6 service have not yet been released, reported Paris-based Alphaliner. But it is reported vessels deployed in this service will pass through ...
THE American shipping community - and its customers - praised the US and South Korean governments for reaching consensus on a new free trade deal, and said they look forward to enjoying its benefits once ratified. "South Korea has the 14th largest economy in the world and the increase in trade that will come from this means more jobs, more global compet...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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