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With bottom low container rates and ships not in use, Maersk Line is risking running into one of the largest economical knock outs in 2009, that a Danish business has ever seen. But a turn might be in sight for next year. It looks very unhealthy. Even during good periods container shipping companies are not among the most profitable, and now, they are fac...
Indonesia's trade minister said on Saturday export volumes for non-oil and gas are set to fall 20-30 percent this year from 2008 as global trade slows, dealing a blow to Southeast Asia's biggest economy in an election year. Earlier this month, Trade Minister Mari Pangestu said Indonesia's non-oil and gas export growth target had been revised to below...
Some 300 Hong Kong logistics enterprises face the possibility of shutdown between January and March, reports Logistics Week, citing a market report. There are 3,000 logistics enterprises in Hong Kong which mainly engage in freight forwarding. Most have laid-off staff to survive the financial crisis. Twenty per cent of the enterprises have no busi...
Hong Kong's Great Ocean Container Lines (GOCL) has withdrawn Asia-Europe services as the 9-month-old start-up goes out of business, its recently resigned managing director Chris Bauermeister told the Hong Kong Shipping Gazette. Having launched its first Asia-Europe service less than a year ago, Mr Chris Bauermeister said the company was winding u...
The Baltic Dry Index, a measure of shipping costs for commodities, rose by 159 points or 8.8 per cent to 1,974 points on demand to ship iron ore to China, according to Exim News Service. This is the longest advance since May 2007. It is the 16th straight gain with all vessel classes advancing. The gauge has more than doubled this year after collap...
The pace of handysize fleet growth will be moderated by the global economic crisis, a dry bulk freight analyst with Clarksons said. Handysize vessels are under 40,000 DWT and are often used for shipping sugar, which accounts for about one per cent of the dry bulk seaborne trade, Exim News Service said. Dry bulk fleet supply will grow y...
The Shipping Corporation of India Ltd (SCI), in association with Hull & Hatch Lines Ltd (H&H), commenced its new service from India to the Red Sea on February 1, Exim News Service reported. Starting from Jawaharlal Nehru Port (JNP), the service calls at Mundra and proceeds directly to various ports in the Red Sea. It has the following port rotatio...
As predicted, after a 17-day winning streak in which the index rallied by 136%, the Baltic Dry Index fell 3.2% yesterday and is back below 2,000 for its first daily decline since January 20th. Even after the decline, the index is still up 200% from its low of 663 back in December. Iron ore stockpiles in China have leapt in the past five weeks and ste...
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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