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COPENHAGEN's Maersk Line has announced it will suspend its Asia-Europe AE-9 service, deploying nine ships each between 6,000 to 8,000 TEU, from mid-November, cutting its capacity on the trade lane 10 per cent in response to shrinking demand. "A few weeks ago, we said that we were ready to adjust our capacity to post-peak demand levels," said Maersk's ...
Shanghai: The Bank of China will provide a $92m loan to Cosco Zhoushan Shipyard as credit for export to finance STX Pan Ocean's bulk carrier newbuild programme. The South Korean shipping group had previously ordered four 57,000dwt bulk carriers from Cosco Zhoushan Shipyard of China. The bank will establish a syndicate with ING Bank NV and its compatrio...
Singapore: Rates for crude tankers on key Asian freight routes are likely to hover near 11-month lows this week as ample tonnage outweighs strong Chinese demand, shipbrokers said.For refined products, rates are expected to tumble to fresh 2010 lows despite renewed interest in chartering tankers for floating storage.Rates for 260,000-tonne crude tankers from...
THE AP Moller-Maersk Group's container shipping and related activities division plans to establish a separate company to offer intra-European, short-haul, sea freight transportation services. The new company aims to commence operations in the second quarter of next year to increase the group's market share from six to 15 per cent. Jacob Bomholt is exp...
DENMARK's Maersk Line has introduced a low water Amazon surcharge of US$500 per TEU on shipments to Manaus, Brazil, 900 miles up the river, as a build up of cargo is delaying the trade flow. Last July, Germany's Hapag-Lloyd applied a US$100 per TEU and $150 per FEU on charge on cargo moving through Montreal, about 900 miles up the St Lawrence River, t...
CHILE's CSAV has doubled its operated vessel capacity from 280,000 TEU to 560,000 TEU over the last 12 months, placing it in seventh place in the global rankings, up from 16th last year, reports Alphaliner. The carrier handled 276,800 TEU in September, an increase of 3.8 per cent, setting a new monthly record. CSAV earlier reported a first half net pro...
PIRACY has tripled in the South China Sea reaching 30 attacks in the first nine months of the year and following on last year's report of a five-year high in the waters from ReCAAP (Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia) report of a five-year high in the waters last year. The attacks share similar ch...
SPOT ocean freight rates from Shanghai have declined by 5.4 per cent over the last three weeks in the wake of the Golden Week holiday in China. The Shanghai Containerised Freight Index (SCFI) fell by 74.5 points to 1,301 points on October 15, after the index was suspended for three weeks for the holiday. A report by Alphaliner said that over the pas...
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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