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MARUBA and its Uruguayan affiliate CLAN have commenced a new Atlanta service linking East Asia to the east coast of South America and west coast of South America. The new service is believed to be comprised of two alternating strings, each with a fortnightly frequency. The first heads westbound around the Cape of Good Hope and sails through the Magellan S...
CONTAINER shipping lines are continuing to launch new services or amend existing ones, including one new intra-Asia service and three service revisions on the Asia-Middle East trade route as demand continues to pick, after 2009 proved to be one of the toughest on record for the industry. South Korean carrier Nam Sung plans to commence a new service that c...
CONTAINER shipping companies plying transpacific routes are raising rates for eastbound capacity out of China with the spot rate from Hong Kong to Los Angeles soaring 20.5 per cent to more than US$2,000 per FEU in the last week, according to London's Drewry Shipping Consultants. Record highs in recent weeks were driven by an "emergency rate charge" levie...
THE 10 member carriers of the Canada Transpacific Stabilisation Agreement (CTSA) are expected to raise transpacific rates US$400 per FEU for cargo from Vancouver to the Far East and $500 per FEU for all-water shipments from the east coast to Asia. "Continued depressed rate levels in the Asia-Canada market have made it necessary for major container lines t...
JAPAN's NYK Line, rated the ninth largest container carrier in the world, has opted to join its Japanese rivals MOL and "K" Line in resigning from the European Liner Affairs Association (ELAA), the surviving group after the 2008 EU ban on the Far Eastern Freight Conference. According to the January 21 edition of the US Federal Register, the three Japanes...
South Korea: D’Amico and Glencore joint venture Glenda has won a legal battle over three product tanker newbuildings cancelled at SLS Shipbuilding. The London arbitrators found that three 51,000 dwt product tankers ordered by Glenda at SLS had been effectively cancelled entitling the shipowner to $82.6m in refunds on payments already made on the vesse...
CMA CGM on Feb. 2 received an $80 million cash injection from its banks as it continues negotiations over restructuring its $5.6 billion debt. The credit is part of a $500 million cash facility the banks agreed to provide CMA CGM as part of the restructuring which involved Jacques Saadé standing down as chief executive of the French ocean carrier h...
Dubai World's investment wing Istithmar is seeking buyers for Inchcape Shipping Services with an asking price of between $600 million and $700 million, the Financial Times reported. The sale of the port and shipping agency has attracted interest from several private equity groups, with Advent International, TPG Capital, Kohlberg Kravis Roberts, Cinven, M...
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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