SPOT rates from Shanghai to the US west coast rose 1.5 per cent to US$2,021 per FEU last week and east coast rates were up 2.7 per cent to $3,204 per FEU, according to the latest Shanghai Containerised Freight Index (SCFI). The latest hike on …
Recently, Southeast Asia’s imports prices of hot rolled coil have continued to rising, driven by recovering demand and better economy. The steel mills in China, South Korea and Japan have been hiking quotes. At present, China’s quotes of common HRC are at USD 650 to …
INTERNATIONAL shipbroker Braemar Seascope has reported that 56 per cent of new containership capacity delivered over the past two years entered the Asia-North Europe and Asia-Mediterranean trades. It said that 2.6 million TEU of newbuilding capacity has been delivered over this period with 1.5 million …
THE world’s biggest container shipping company, Maersk Line, has stopped all cargo bookings from North Europe to Asia because it says it does not, and will not, have the eastbound slots needed until early May. That’s because, Maersk told shippers in its Weekly Highlight newsletter, …
CONTAINER shipping lines have idled five per cent, or 800,000 TEU, and more lay-ups are to come, says Maersk Line new CEO Soren Skou, who expects a million TEU to be laid up, a level not experienced since downturn year of 2009, said Reuters. Mr …
COSCO Container Lines has announced plans to raise its container shipping freight rates from Asia to South America from April 15. The increase will be US$500 per TEU and $1,000 FEU, or 40-foot high-cube. The coming increase hike will apply to both dry and refrigerated …
THE container shipping industry is consistently destroying shareholder value and needs to rein back fleet growth to improve returns, says Maersk Line’s new CEO Soren Skou. Mr Skou, who took over in mid-January, made the comments in London shortly after parent company, AP Moller-Maersk, announced …
NEW DELHI: With surge in import of refined palm oil, edible oil processors have urged finance minister Pranab Mukherjee to hike import duty on the commodity to 16.5 per cent from the existing 7.5 per cent to save the domestic industry from closing down. India …
The bulls are expected to take firm charge of the oil and gas sector for some time to come, and it’s no wonder, what with the high and sustained crude oil prices and the unrelenting global demand for energy, especially that emanating from emerging markets. …