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LONDON's shipping consultancy Drewry's reports that spot rates for transpacific container shipping have increased 182.9 per cent - hitting a five year high - over the last 12 months. Specifically, the Hong Kong-Los Angeles container spot rate stood at US$2,607 per FEU last week, up 18.9 per cent over the week before, representing an 182.9 per cent yea...
STANDARD & POOR's (S&P) has maintained its B- rating on Chilean shipping company Compania Sud Americana de Vapores SA (CSAV). However, but revised its outlook from negative to stable. The revision came as CSAV reported a record monthly lifting volume of 223,500 TEU in May, up 77 per cent compared to the previous year. Average rates also increas...
THE Containership Company (TCC) is increasing capacity and temporarily suspending slow-steaming on its Taicang-Los Angeles Great Dragon shuttle. TCC's service currently deploys five ships ranging from 2,500-3,000 TEU, but from the end of July/early August, it will run the operation with four 3,000-TEU ships. It has agreed to charter three vessels of 2,...
GENERAL labour inefficiency and the shortage of containers have combined to create serious congestion at Bagladesh's major port of Chittagong as carriers begin to exact congestion surcharges of US$100 per laden TEU and $50 for empties. "The situation started to deteriorate with the port authority taking over the function of appointing port operators a ...
Singapore's Neptune Orient Lines (NOL), the world's fifth-biggest container shipping firm, carried 34 percent more containers in the four weeks to May 28 compared with a year ago, Reuters reported. NOL said it carried the equivalent of 212,600 FEUs on its ships in the period, up from 159,100 a year earlier, as intra-Asia and trans-Pacific trade contin...
TAIWAN's Evergreen and Wan Hai Lines will start a new service linking Qingdao and Hong Kong to Jakarta, Port Kelang and Singapore, reports the Paris-based maritime agency Alphaliner. The new HBS service will deploy four ships in the 2,800 TEU range with each carrier contributing two ships. The service starts with the sailing of the Northern Victory fro...
CHINA plans to invest billions of euros in shipping, logistics and airport projects in debt-laden Greece, following a visit to Athens by Chinese vice-premier Zhang Dejiang, according to an unidentified Greek government official. "These concern maritime affairs, telecoms and a project to renovate a landmark tower building in Athens' port of Piraeus," th...
THE International Maritime Bureau (IMB) piracy reporting centre, a maritime watchdog based in Kuala Lumpur, has issued a warning to ships following a marked increase in attacks, with six incidents reported in the South China Sea off the Indonesian islands of Mangkai, Anambas and Natuna in as many days. The South China Sea, running from Hong Kong to Sing...
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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