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10/02/2014
HONG KONG — Carriers on the trans-Pacific have unveiled a bold new pricing approach to the 2015-16 contract season that will establish minimum rate levels and improve the bunker fuel cost recovery mechanism. Member lines of the Transpacific Stabilization Agreement (TSA) said they were facing significant cost and operational challenges on...
10/02/2014
Two indices show Chinese manufacturing production rose in September at a time that factories would normally be powering down as demand to fill Western holiday orders wanes. "Expansion of the manufacturing sector points toward increased demand for shipping,” said Peter Sand, chief shipping analyst at the Baltic and International Maritime Council....
10/01/2014
Some bad news for shippers: Switching to low-sulfur fuel on a global basis in 2020 could cost the container shipping industry up to $100 billion per year, which will likely cause container freight rates to rise as carriers attempt to pass the costs onto beneficial cargo owners. MARPOL Annex VI standards...
10/01/2014
While congestion continues to plague ports in North America and northern Europe, a number of other incidents are popping up that are also likely to negatively impact the global schedule reliability of ocean carriers. “We do not expect to see any increases in global schedule reliability until the congestion issues have...
10/01/2014
Drewry’s benchmark spot rate from Hong Kong to the U.S. West Coast remained at $1,875 for the second straight week. Full-size chart The benchmark spot rate from Hong Kong to the U.S. West Coast remained unchanged this week, despite the potential for weakness tied to China’s week-long Golden Week holiday in early...
09/30/2014
Carriers operating in the Asia-Europe and trans-Pacific trades could fall victims to their own tactics, as Alphaliner predicts their refusal to trim capacity and the delivery of big ships could cause major spot rate erosion. A massive influx of capacity could push spot rates, which are already in a volatile trend...
09/29/2014
Iran and Oman plan to launch a shipping line to boost maritime trade between the two countries by the end of the year. Talks about the shipping line started six months ago, and the deal is expected to be signed in three months, Ali Akbar Sibeveih, the Iranian ambassador for Oman,...
09/29/2014
A Hapag-Lloyd vessel dropped three containers into the Suez Canal on Monday morning after colliding with a Maersk Line vessel, interrupting a southbound convoy through the Egyptian waterway. The Colombo Express was sailing within a convoy when it collided with the Maersk Tanjong, which was clearing the Suez Container Terminal to...
09/26/2014
HONG KONG — Spot rates continue to fall across the major trades out of Asia, according to the latest reading of the Shanghai Containerized Freight Index, with rates expected to slide further over China’s Golden Week holiday that begins on Monday. Factories will be closed for the week over the mainland’s...
09/25/2014
Even though the $5.3 billion Panama Canal expansion has yet to be completed, Panama Canal Authority Administrator Jorge Quijano already envisions another expansion within 25 years to handle even larger container ships. Quijano declined to say when exactly a new upgrade would be needed or how much larger the expansion would...



 
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