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CMA CGM (America) LLC has expanded Timothy Ring's current role to Director to encompass the wider remit of inbound cargo volumes of the carrier's Oceania and Indian subcontinent services and government shipments. Mr Ring has steered the company's worldwide food aid, PL-480/Title II program, from CMA CGM's Washington DC office since joining in 2005. He...
Idled ocean container capacity hit a new high of 1.41 million TEUs, or 11.3 percent of the world fleet on March 16, with 484 ships lying at anchor as carriers continued to retrench amid declining cargo volumes on most liner trade routes. But the rate of lay-up is slowing for the first time in three months, with only 31 ships of 60,000 TEUs joining the jobl...
Kawasaki Kisen Kaisha, Ltd. ( “K”LINE ), Pacific International Lines (Pte) Ltd ( PIL ), Nippon Yusen Kaisha ( NYK ) and Hyundai Merchant Marine Co. Ltd ( HMM ) have reached an agreement to launch a joint service between Far East and East Coast South America ( ECSA ) as from mid-June 2009. Ten vessels of about 4250 TEU capacity will be deployed ...
Maersk Line announced the introduction of a Pipavav (India) call on its ME3 service in Europe - Middle East & South Asia network. The Pipavav call will provide its customers with new opportunities in the North India market. Benefits include: - Direct service between North India and the Mediterranean - Shorter inland haulage transit time to and fro...
The Baltic Dry Index, a measure of shipping costs for commodities, posted its third consecutive week’s drop on March 13 on weakening demand for iron ore. According to Exim News Service, the index fell by 79 points, or 3.6 per cent, to 2,122 points, according to the Baltic Exchange. That’s a 4.6 per cent decline for the week. Rates to hire Cape...
While many maritime service suppliers are sitting on the fence and waiting for better times, Wilhelmsen Ships Service has no intention of slowing down. The company has identified interesting opportunities in emerging markets such as Brazil, Russia, India and China (the “BRIC” markets) and is investing in the future. In Brazil, the company is f...
The CEOs of container shipping lines of the Transpacific Stabilization Agreement (TSA) have reinforced their intentions to ensure that 2009-10 service contracts do not result in the kind of non-compensatory, unsustainable rate levels that began to develop principally in the “spot” rate market during the off-peak this winter. In addition to movin...
The cost to transport crude oil from the Caribbean on Aframax tankers rose 12 percent this week as demand outweighed the number of ships available for voyages. “Aframax rates continued to rally in the Caribbean,” E.A. Gibson Shipbrokers, based in London, said in a note. “In the short terms, rates are likely to be repeated but owners will ...
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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