It is reported that on July 29th 2010, Baltic Dry Index reached 1942 points, up by 41 points as compared to July 28th 2010.
Capsize
BCI
Change
SPOT 4 TCE AVG
1886
+85
INDEX
14443
+864
July 28th 2010
13579
Year Ago
57471
All except INDEX in USDChange is with respect to numbers on July 28th 2010
Panamax
BPI
Change
INDEX
2582
+76
SPOT 4 TCE AVG
20752
+614
July 28th 2010
20138
Year Ago
28086
All except INDEX in USDChange is [...]
Reuters reported that Taiwan’s CPC Corporation will join private firms U Ming Marine and Chinese Maritime Transport to set up an oil shipping venture with a total investment of TWD 29.7 billion.
State owned CPC said in a statement that it will have 48% of the venture, which will either order its first ship or buy [...]
Source: Mike King | Tue, 6 Jul 2010
Six million new boxes needed
Equipment shortages could remain a feature of the container shipping
landscape for up to two years, pushing shippers to use those supply chain
providers still able to secure adequate capacity, according to one logistics
major.
Claus Schensema, MD of GAC Forwarding & Shipping (Shanghai), told IFW
equipment shortages [...]
The Board of Directors of France-based CMA CGM, the world’s third largest container shipping group, recently met under the chairmanship of M. Jacques R. Saadé to review the financial statements for the year ended 31 December 2009. In a container shipping environment where every player was severely affected by the global crisis – the [...]
Container shipping may get costlier
The spot rate for container shipping on the Asia-Europe route is likely to rise to US$2000 per TEU in two months as carriers plan to take out more capacity following the Chinese New Year due from the middle of this month, the Hindu Business Line reported.
The present rate is $1763 per [...]
By Joseph George on Monday, February 08, 2010
MISC’s wholly-owned subsidiary MISC Agencies has entered into an agreement with Al Hilal Shipping Agency to set up a joint venture (JV) company in Dubai.
In a filing with Bursa Malaysia, MISC last Wednesday said the agreement is to incorporate a joint venture company in Dubai for acting as [...]
While announcing 2009 results, commenting on US Steel’s outlook, Mr John P Surma chairman & CEO of US Steel said that “We expect to report an overall first quarter 2010 operating loss in line with the fourth quarter 2009 as gradually improving business conditions are not yet fully reflected in our operating results. We continue [...]
It is reported that, despite upheaval in the global economy and significantly reduced container throughput, Singapore is still the world’s busiest container port ahead of Shanghai, judging by statistics from both port authorities.
Mr Wang Hongquan vice director for the Shanghai Transport & Port Authority said that Shanghai’s container throughput for 2009 will be about 24 [...]
It is reported that container lines have withdrawn more ships from service over the past week as trade conditions stay slack during the seasonal winter slowdown.
Latest figures from Lloyd’s Marine Intelligence Unit show that 663 box ships with combined capacity of 1.32 million TEU are currently inactive. This compares with 641 idled vessels of 1.27 [...]
