It is reported that Mitsui OSK Lines has received approval from the government of Vietnam to establish a new joint terminal operation company Tan Cang Cai Mep International Terminal Company Limited. MOL said that the new company will operate the Tan Cang Cai Mep International …
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CMA CGM, Maersk and Hyundai will suspend their China-Korea-US East Coast service via Panama after the departure of the last eastbound vessel from Ningbo on September 27, according to China Economic Review. This joint decision allows the three shipping lines to rationalise existing services and …
Bunkerworld has launched a new index to measure the strength of the global bunker market. Bunkerworld Index is a weighted daily index based on Bunkerworld Benchmark Prices from 20 key bunkering ports. It represents bunker fuel price movements on an international basis, providing a single …
Moller Maersk is bracing itself for a delayed recovery as it builds up a war chest. It said that it still needed to see a rebound in the economy, even as it announced it was raising funds for possible future acquisitions. Mr Jan Kjaervik SVP …
It is reported that just as global trade starts to recover the shipping market is crashing for the second time in a year as China reduces raw-material imports and record numbers of new vessels set sail. The rate for leasing Capesize ships, boats three times …
Date: 9th August, 2009 Despite positive signs emerging for a second half rebound on the Asia to Australia trade, the playing field this year has developed into a very different one, where cost has taken priority over service. This is certainly not something carriers should …
Date: 4th August 2009 Freight rates on the Asia-Europe trade fell by 51 per cent in the first three months of this year, the European Liner Affairs Association (ELAA) has now revealed, following the release of the group’s monthly trade report. However, while the figure …
By MYNARDO MACARAIG SUBIC BAY, May 15 (AFP) – Deep water ports around the Philippines are fast resembling parking lots as shipping companies caught by the slump in global trade look for places to park their unused vessels. At the former US naval base at …