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SHIPPING lines participating in the Canada Transpacific Stabilisation Agreement (CTSA) have announced a move to again increase the Currency Adjustment Factor (CAF) surcharge to 10 per cent from June 1. The fee will be applicable from all origins in north east and south east Asia, including Japan and mainland China, and cover trades to all ports and point...
HANJIN, CMA CGM, TS Lines and Bengal Tiger Line have combined to provide the India Chennai Express (ICX) starting May 15 with the sailing of the 1,708-TEU Hanjin Veracruz from Qingdao. Each company will provide a 1,700-TEU class ship to rotate from Xingang, Shanghai, Ningbo, Xiamen, Singapore, Chennai, Hong Kong, Qingdao and back to Xingang. The new ICX...
MARSEILLE-based shipping giant CMA CGM has announced it will raise rates on Asian-north European routes US$225 per TEU on cargo from all parts of Asia, effective June 1. The increase has been imposed "in response to the recent drastic deterioration of freight rates". CMA CGM said the increase "is a first step to gradually increase revenue to more de...
DANISH shipping giant Maersk Line has announced a general rate increase on Asia-Europe routes of US$250 per TEU starting June 1. "The rate restoration initiative will apply to all dry and reefer cargo moving from all Asian ports to all destinations in north Europe and the Mediterranean," Maersk said in a notice to trade. This follows a Maersk rate increas...
In order to capitalise on the rising container shipping demand in India and Pakistan, Singapore-based container shipping line, Samudera Shipping Line together with its operating partner, has restructured its Nhava Sheva Karachi Express (NKX) services into two new loops, Nhava Sheva China Express (NCX) linking China and Nhava Sheva, and Karachi Pipavav Expre...
China Eastern Airlines’ first-quarter net profit rose 32 percent from a year earlier, while Air China’s profit fell 23 percent, reported Dow Jones Newswires. China Eastern’s gain was attributed to stronger air travel demand. The Shanghai-based airline's net profit for the three months ended March 31 totalled US$154.19 million, up from...
China Cosco Holdings, flagship of the country's No.1 shipping conglomerate, posted a net loss of US$77.3 million in the first quarter as shipping rates slumped amid a supply glut. China Cosco, which operates the world's largest bulk cargo fleet and is the No 5 container shipper globally by capacity, returned to the red after a profitable 2010, but the l...
The Great Eastern Shipping Company Ltd (GE Shipping) has taken delivery of a newbuilding Kamsarmax dry bulk carrier Jag Aditi, according to Exim News Service. The vessel, of about 80,700 DWT, was built at STX Offshore and Shipbuilding Co. Ltd, South Korea. With the induction of this vessel, the company’s fleet stands at 35, comprising 27 tankers (10 c...
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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