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Media
Shippers are seeing record increases in container freight rates as part of another swing in an increasingly volatile container shipping spot market, reports Xinhua. "The extreme volatility of the spot container shipping market is an industry issue not just for shippers, who cannot forecast their transport costs or their products' total landed cost...
NYK pure car truck carrier, the Auriga Leader, weighing in at 60,213 gross tons, has been recognised as the ship of the year at the Lloyd's List Global Awards 2009 held recently in London. The accolade is awarded to vessels that are said to have set over the past year a new benchmark in terms of design, innovation and efficiency. The solar-power-assist...
AUTHORITIES in central China have banned vessels carrying dangerous cargo from passing through the Three Gorges for 10 days starting today, September 28. The state news agency Xinhua said the measure is to prevent mishaps during the National Day celebration period, starting October 1. The Three Gorges dam, which was largely completed in 2008, spans the ...
KOREA's Hyundai Samho shipyard has agreed to postpone the delivery of four 10,000-TEU-containerships to Israel's Zim shipping line from next year to 2014 and 2015. Zim negotiated a similar deal with another Korean shipyard for nine 12,600-TEU ships to be delivered next year, reports said Newark's Journal of Commerce. Zim reportedly capitalised on the h...
OVERCAPACITY and slackening demand has prompted 13 members of the 14-member Transpacific Stabilisation Agreement (TSA) members to raise rates, fuel levies and increase peak season surcharges to ease pressure on those companies using the Asia-US routes. The rate increase per FEU of US$500 will apply from August 10 until April and will be considered a volun...
MARSEILLES based CMA CGM met creditor banks and French finance ministry officials last week to discuss its US$5 billion debt and bleak prospects for 2009 - after enjoying a $124 million profit from $15.2 billion in revenue in 2008. Talks was focused on how CMA CGM could tap the government's strategic investment fund which aims to help French companies th...
In London, the Brent Crude contract was down $3.17 on September 24 to $64.82 per barrel on the ICE Futures exchange. Light Sweet Crude fell $3.08 to $65.89 on the New York Mercantile Exchange, RBC reports. Source: Port News
SABAH Ports Sdn Bhd (SPSB), a unit of Suria Capital Holdings Bhd, has been served with a writ of summons by A.P. Moller-Maersk A/S for damaged cargo at SPSB’s container yard at Sapangar Bay Container Port. In a filing to Bursa Malaysia yesterday, Suria Capital said A.P. Moller-Maersk is seeking US$30,692.08 (RM106,808.44) in damages from SPSB. The...
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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