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Maritime News

Members of the Transpacific Stabilization Agreement have filed for their 11th general rate increase this year in a continuing effort by carriers to shore up spot rates from Asia to North America. TSA members will seek an increase of $600 per 40-foot container, effective Nov. 15. The carriers have filed for...
The slump in crude oil prices over the past three months has sharply reduced ocean carriers’ unit costs as they face declining cargo volumes in the seasonally slack fourth quarter. Brent crude, the international benchmark, is trading at around $86 a barrel today, down 25 percent from a peak of $115...
An environmental accident was averted yesterday after a Canadian tugboat rescued a stranded Russian container vessel hauling hundreds of tons of fuel, according to the Canadian Press. The vessel lost power later Thursday night near Haida Gwaii while heading to Russia from Everett, Washington state, according to the Associated Press. Authorities...
Full-size chartTrans-Pacific carriers received a small boost from a planned Oct. 15 rate increase this week, the Shanghai Containerized Freight Index shows. The SCFI showed rates from Asia to the U.S. West Coast up 13.1 percent, or $248 per 40-foot container, this week to $2,139. It was the first gain on...
The Far East-U.S. East Coast container trade is shaping up as the potential “battlefield” of the future as an enlarged Panama Canal allows carriers to cascade larger ships from the Far East-Europe trade, according to Bimco. Spot freight rates on the route hit an all-time high of $4,636 at the beginning...

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