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CARRIERS struggling to maintain profitability got a break late last week when oil prices fell, "joining one of the biggest commodity sell-offs in two years", reported London's Containerisation International. Brent crude plunged to end a four-day decline at US$113 per barrel, the biggest one-day drop since April 2009. In Rotterdam, IFO 380 bunker slipped ...
THE United Arab Shipping Company (UASC) will introduce peak season surcharges on all cargo from Asia to US east coast for both reefer and dry cargo. The first one will be US$320 per TEU, $400 per FEU and $450 per 40-foot high cube, effective June 1. Before that charge comes into effect, UASC will impose another peak season surcharge on all shipments fr...
MARSEILLES-based French shipping giant CMA CGM has launched its Shaka Express service, linking the Far East, Indian Ocean Islands and South Africa from May 8. The weekly service deploys six vessels between 4,500 TEU and 6,500 TEU, to meet the growing market demand of South African trade with Asia, amounting to 30 per cent of its overall trade. The serv...
Geneva's Mediterranean Shipping Company (MSC) will levy a bunker surcharges on cargo between Asia and North America, and to the west coast of South America, Central America and Venezuela as of June 1. The surcharges on the routes are as follows: From Asia to Europe, US$755 per TEU, and $585 for TEU reefers; from the east coast of South America to North A...
Cleartrade Exchange and Drewry have unveiled the World Container Index assessed by Drewry, a global index which can be used by physical and derivative market participants to manage freight risk. The index will report individual market prices on major East-West container shipping routes. Initially prices for 11 individual routes and a composite index will ...
Chuan Hup Holdings, owner and operator of marine transport equipment, earned lower revenue but higher net profit in the third quarter ended 31 March 2011. The Singapore-based company posted net profit of $10.3m for the third quarter, a surge from $755,000 in the same quarter of 2010 as a result of the completed sale of Scomi Marine Berhad shares, an availab...
Rickmers-Linie, the German liner specialist for project cargo and heavy lift, is upgrading its Indian service with the addition of new vessels. It will also provide a direct service both eastbound and westbound between Europe and India although calls in Pakistan and the Middle East will be possible on an inducement basis. The base ports served are Hamburg...
AP Moller-Maersk's newly created short-sea container carrier, Seago Line, is expected to assume control of the intra-European sea freight services provided by group members' Maersk Line and Safmarine in May. A report by Alphaliner said the start-up shipping line that is headquartered in Copenhagen will focus on the intra-Europe, Mediterranean and North ...
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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