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THE UK Shippers' Voice is calling on shippers, freight forwarders, carriers to enter into debate on whether container freight derivatives are the solution to "freight rate volatility." To facilitate such discussion, the company has posted a paper on its web site, entitled: Container Freight Derivatives - Helping Shippers Manage Risk. "One of the great...
OAKLAND-based Matson Navigation Company has posted a quarterly loss of US$7.4 million having declared a $10.4 million first quarter profit in 2010. The Jones Act carrier mostly attributed its loss to rising fuel costs having consumed its increasing revenue, which went up 17 per cent to $269.6 million in the first quarter year on year. Stanley Kuriyama, ...
CHILE's big carrier, Compania Sud Americana de Vapores (CSAV), has posted a first quarter loss of US$186.4 million, compounding an earlier $7.2 million loss made in last year's fourth quarter. CSAV line mostly blamed sagging freight rates, which declined 13.8 per cent, which was only slightly countered by a 4.5 per cent cargo volume increase to 876,800...
KOREA'S Hanjin Shipping as informed the trade of a US$200 per TEU rate hike on all cargo from north east Asia to Europe from May 15. This follows Maersk's similar increase of $250 per TEU on the Asia Europe trade, which has not been joined by CMA CGM with a $225 per TEU increased on cargo otherwise not yet contracted from Asia and the Indian subcontinen...
Genco Shipping & Trading Ltd.'s first-quarter profit plunged a less-than-feared 60% as expenses surged, though revenue increased. The shipper of drybulk cargoes such as iron ore, coal and grain has seen lower charter rates weigh on earnings in recent quarters. Low rates are expected to weigh on the industry in coming years as the industrywide fleet ...
Project and heavy-lift specialist Rickmers-Linie said it is adding four ships to its India-Europe service to take advantage of an expanding market.Rickmers said it will operate the Linde and the Martin, both built in 2005, under long-term charter. Each ship has capacity of 12,800 deadweight tons and has two 120-ton cranes that can be twinned to lift 240 ton...
Samudera Shipping will expand its Nhava Sheva Karachi Express (NKX) in response to rising container shipping demand in India and Pakistan, Seatrade Asia Online reports. The NKX will be restructured into two new loops, namely the Nhava Sheva China Express (NCX) linking China and Nhava Sheva, and Karachi Pipavav Express (KPX) connecting Singapore with Pipavav...
Bulk freighters will be able to avoid congestion around Shanghai and sail up China's Yangtze River as far as Nanjing under a $2.7 billion plan to deepen the navigation channel by 2015, Xinhua News Agency reported, Reuters reports. The river would be navigable for ships up to 50,000 tonnes, which means handymax and supramax dry bulk carriers will be able to...
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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