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Shipping lines operating in the India/Europe trade have agreed to stop collectively setting rates as of October, when a rule banning such entities takes effect in Europe. Indian news outlets reported that last Thursday the member lines of the India Pakistan Bangladesh Ceylon Conference agreed to refrain from discussing tariffs with each other. IPBCC c...
Hanjin Shipping said Monday it is merging with one of its subsidiaries, Keoyang Shipping, a dry bulk operator that relies heavily on the transport of iron ore and coal for Korean steel making giant POSCO. In 2007 Keoyang had revenue of $142 million, with net profit of $20.4 million and assets worth $344 million. Hanjin said the merger is part of i...
The Trans-Atlantic Conference Agreement said it is holding the line on its bunker surcharge through at least June 15, but said the weak dollar will trigger a change in the currency adjustment factor. For Atlantic and Gulf Coast ports, bunker adjustment factor levels will remain at $607 for 20-foot containers, $1,214 for 40- or 45-foot containers and $...
Maersk Line has entered a vessel sharing agreement with MISC Berhad in the South East Asia/New Zealand trade. Maersk said the change was a reflection of the presently unsustainable trading conditions in the South East Asia/New Zealand market. The agreement will take effect June 9 and the service will deploy four 4,100-TEU vessels. Maersk Line will...
French officials have called for the United Nations to adopt new laws and a create a force to fight pirates, in the wake of the successful release Friday of 30 hostages from the CMA CGM cruise ship Le Ponant. No passengers were on the ship at the time it was attacked by Somali pirates. CMA CGM Group confirmed the entire crew of the cruise ship had...
Aker American Shipping said the fourth in a fleet of Jones Act product tankers had been delivered to it by the Aker Philadelphia Shipyard. The ship will be chartered to OSG America and will be used to carry product for Shell Oil Co. Last December, Aker American Shipping announced a corporate reorganization whereby it became a ship owning company t...
German shipping group DSR is planning three Baltic Sea container terminals, including one in the Latvian capital Riga, as the company expects container traffic on the Baltic to quadruple in the future. German newspaper Ostsee-Zeitung quoted DSR's Chief Executive Officer Horst Rahe as saying the group is considering how to expand its port network in t...
American Airlines Cargo said Friday it has increased the per-piece weight limit on its Expeditefs freight product from 100 to 300 pounds on narrowbody aircraft. Expeditefs is AA Cargo's express freight product that provides priority boarding, a 97 percent service reliability metric and a 100 percent flown-as-booked guarantee. The new Expeditefs se...
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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