A NEW week has brought little change to the direction of freight rates in the world’s big trades with Asia-Europe spot rates leading the decline of 2.9 per cent week-to-week to US$677 per TEU, according to the latest Shanghai Containerised Freight Index (SCFI). Asia-Mediterranean rates …
THE US Federal Maritime Commission (FMC) has received US$477,500 in fines from 10 Non-Vessel Operating Common Carriers (NVOCCs) for non-compliance of the Shipping Act. The NVOCCs are required to file its “available to anyone” or “open” rates as public record in the form of a …
Now this is something new. It’s claimed that due to the lower draft into Kolkatta / Haldia ports, thus limiting the load factor of vessels plying this trade, a surcharge called “Low Water Surcharge” has surfaced. This is to be applicable for shipments ex-Port Klang …
DANISH shipping giant, Maersk Line together with Malaysia’s regional carrier MISC have increased coverage of southeast Asia and Oceania, adding six calls and five vessels to their NZ1/NZE services with Hapag-Lloyd, Hamburg Sud and Alianca taking slots, reports ComPair Data. This changes NZ1/NZE from a …
SINGAPORE’s Maritime and Port Authority reported a 7.9 per cent increase in container movement in September, having handled 2.41 million TEU compared to 2.23 million TEU in September of last year. Figures from the Hong Kong Marine Department show the port handled 1.96 million TEU …
TAIWAN’s Evergreen Marine and its affiliates have signed syndicated loan with a consortium of nine banks led by the Bank of Taiwan worth US$824 million to fund the purchase of ten 8,800-TEU newbuildings from China Shipbuilding Corporation (CSBC) of Taiwan. The container shipping sector has …
SINGAPORE’s exports fell in September due to a decrease in overseas demand for electronics and petrochemicals, according to government statistics. But total trade increased seven per cent last month year on year following a 9.9 per cent growth in August. On a seasonally adjusted basis, …
SPOT rates from Hong Kong to Los Angeles dropped to US$1,486 per FEU based on Drewry Shipping Consultants’ weekly benchmark, hitting the lowest point in 21 months and showing a 35.4 per cent decline year on year. Compared to the highest rates of US$2,119 in …
GENEVA’s Mediterranean Shipping Company (MSC), the world’s second largest carrier, has cancelled its Andes Express service and has joined a CSAV-CMA CGM service between Asia and the west coast of South America. A total of 11 ships will be deployed in the revamped Andex 1 …