Dire capesize conditions saw Cargill fix a Mitsui OSK Line relet for $1,000 per day, as the Baltic Exchange average time charter rate was at its lowest-ever level recorded.
US-based commodities multi-national Cargill fixed the 180,180 dwt, 2007-built MOSK relet Linda Dream for a transatlantic round voyage, well under the Baltic Exchanges index price of [...]
GRAND Alliance (GA) carriers Hapag-Lloyd, NYK and OOCL have changed to their Asia-US east coast service after joining the New York Express (NYX) service operated by New World Alliance (NWA) lines APL, Hyundai Merchant Marine and MOL.
“The service changes have been made to adjust capacity to significantly lower demand, while ensuring customers’ transportation needs [...]
28 nov: Bank Negara: Q3 GDP grew 4.7%, Services +7.1%, agri +3%, construction +1.2%, manufacturing +1.8% but mining contracted 0.3%
EVERGREEN will combine its Asia to Europe, and Asia to US services, into a single loop with distinct east and westbound voyages after mid-December, the Taiwan shipping giant has announced.
The benefits achieved, said the company, are the inclusion of Busan as a regular port of call in the CPS (China, South-US west coast) service, [...]
Michelle Wiese Bockmann - Thursday 27 November 2008
THE worsening container outlook has forced Evergreen Marine to restructure and cut services from mid-December to save money, writesMichelle Wiese Bockmann.
Battling falling income, the Taiwanese container giant has eliminated its China -Europe shuttle service, as rates and volumes on the Asia-Europe route continues to freefall.
Instead, Evergreen has merged [...]
nov 25: KLCI closed up 4.79pt to 860.18. CPO up RM44 to RM1,532
Nymex crude oil settled at USD54.50, up USD4.57
SLOW steaming, ship scrapping and postpanamax order cancellations is what Vancouver, Hong Kong and Marshall Islands-based shipowner Seaspan sees on the darkening horizon as the American financial crisis takes the world in its grip.
But Seaspan CEO Gerry Wang told analysts that there has been no whiff of charter defaults or renegotiating agreements and he [...]
THE CKYH Alliance of Coscon, “K” Line, Yang Ming and Hanjin has announced further cuts to Asia/Europe services during the December-April slack season, and in the face of global economic downturn.
Under the latest plan, CKYH capacity to North Europe will be reduced weekly by 16,000 TEU, or 30 per cent, on the Asia-north Europe [...]
