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MEMBER lines of the Canada Transpacific Stabilisation Agreement (CTSA) will increase their currency adjustment surcharge to nine per cent from May 1 between Asia to ports and inland Canada, a one per cent increase from the last increase in March. The currency surcharge increase is reviewed a month ahead of going live following a general rate increase of U...
ASIA-EUROPE spot rates - Shanghai to Europe - declined to US$1,000 per TEU last week, continuing an overall slide since the third quarter of 2010 in the face of overcapacity as more tonnage joins the global container fleet. The spot index dropped to $992 per TEU, down $27 per TEU from the week before, according to the Baltic International Maritime Council...
GREEK carrier Paragon Shipping Inc has entered into an agreement to exchange two 4,800-TEU vessels on order for end of 2013 for two 82,000-ton bulkers for an additional cost of US$50.2 million. The bulkers will be delivered by the Chinese shipyard a year earlier in third and fourth quarters 2012, according to American Shipper. It has agreed to buy the C...
THE Canadian Pacific Railway (CP) has issued a first quarter 2011 earnings warning that profits are expected to be lower due to the impact across its entire supply chain of a severe and long winter, as well as a "lag" in fuel recovery. "Since the New Year, multiple severe weather events have caused significant disruptions to train operations across our n...
DP WORLD, the fourth largest international terminal operator, has announced its financial results for 2010, seeing a 35 per cent year on year increase to US$450 million from $333 million the previous year. Likewise, its revenue rose nine per cent in 2010 to $3.19 billion compared to $2.82 billion in 2009. "Our 2010 results, with profit before tax in exc...
TAIPEI's Evergreen Marine has returned to profitability to post a net profit of US$513 million in 2010 against a $333 million loss the year before, with this year's earnings drawn on revenues of $576 million, an increase of 13 per cent. But pre-tax profits fell 81 per cent against those in 2009 to $2.8 million, noted London's Containerisation Internati...
COSCO PACIFIC, the Hong Kong-based terminal operator and container leasing arm of the China Cosco group, has revealed a year-on-year 43.5 per cent increase in 2010 operating profit to $119.8 million, drawn on revenues of $195.6 million, up 63.5 per cent. Throughput at terminals in which Cosco owns a stake increased 19.4 per cent to 48.5 million TEU. Volu...
Container volume at South Carolina’s public ports was up seven percent in February on the heels on major improvements to container operations and the completion of a nearly $22-million project to accommodate growth in Charleston’s breakbulk sector. For the first eight months of its financial year (July through February), box throughput at 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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