Vessel scrapping may reach new high in 2012 2012-2-7As the Baltic Dry Index plumbs all-time depths, those with long memories are recalling the dark days of the 1980s for the shipping markets.
Lines raise rates to claw back 2011 losses 2012-2-7Exporters and importers face higher shipping costs as loss-making and financially troubled shipping lines raise freight rates on key trade routes to Europe, the Mediterranean and South Asia in the next few months.
ZIM to implement GRI in the Asia & Indian sub-continent westbound trade 2012-2-6As of March, 1st 2012 ZIM will implement a General Rate Increase (GRI) of $750 per TEU in order to maintain current levels of service and high reliability.
Damen Shipyards delivers three Cutter Suction Dredgers to Azerbaijan 2012-2-6On 24January 2012 Dutch shipbuilder Damen Shipyards delivered three Cutter Suction Dredgers of its CSD 500 series to the Ministry of Emergency Situations (MES) in Azerbaijan.
Cruise lines may change compensation laws 2012-2-6Travel industry lawyers believe that the Costa Concordia tragedy could prompt a rethink of the terms and conditions by which claims are brought against cruise lines.
Coast Guard Gets P1.6B To Boost Search And Rescue Capability 2012-2-6The Philippine Coast Guard (PCG) will receive an additional P1.6 billion for capital expenditure acquisitions that would boost its emergency response and archipelagic defense capabilities.
Container Shipping Lines and Freight Terminals Targeted by Unions Next Week 2012-2-6Despite the fact that Japan is home to many of the major container shipping lines and some of the most efficient freight terminals in the world next week will see the port of Mishima-Kawanoe on the country's smallest and least populous island of Shikoku targeted by international action by seafarers unions as part of an East Asian 'week of action'.
WSS China expands service network to Tianjin 2012-2-3Wilhelmsen Ships Service (WSS) has announced the opening of a facility in Tianjin, China, taking the total number of WSS agency offices in the region to six, located in Shanghai, Beijing, Qingdao, Dalian, Ningbo and Tianjin.
CMA CGM signed new tripartite agreement 2012-2-3CMA CGM has announced a new tripartite agreement with CSCL and UASC on the Asia-Middle East lane. As part of this agreement, CMA CGM has reorganised its CIMEX 1 service on the Asia-Middle East market with effect from February 2, according to Exim News Service.
Hanjin Shipping announces rate restoration for Asia-Europe trades 2012-2-3Hanjin Shipping announced a rate restoration plan for Asia-Europe trades as of March 1st, 2012.
Container Shipping Giant Imposes Swingeing Surcharges on Asia Europe Freight Rates 2012-2-3In a bid to steady the current trend of downward spiralling freight rates (see previous story) French container shipping giant CMA CGM has announced 'Rate Restoration' measures which will come into force from the beginning of March. A company statement says:
Dry Bulk Freight Index Drops and Container Shipping Line Forecasts and Profits Slump 2012-2-3This is probably not a good time to have all your investments in global shipping. Everyone is currently raving about the plummeting Baltic Dry Index but, despite the fact it now sits at a record low, at 662 one point below the previous 25 year low achieved on the 5th December 2008, any analyst worth his salt knows that oversupply is the big problem for some vessel sizes tasked with moving bulk freight commodities.
French Companies Work On Anti-Pirate Ship Of The Future 2012-2-2Blind them with light, drench them with water cannons or deafen them with sound blasts: These are some of the on-board anti-pirate features that figure in a project being developed in France.
Maersk Line and Broström join campaign for cleaner shipping 2012-2-2The world's largest container carrier, Maersk Line and Broström, a part of Maersk Tankers, have decided to join the Port of Gothenburg campaign for cleaner shipping.
Pollution Control Service launched in China to steer owners through new rules 2012-2-2GAC China has launched a new specialist service to help ship owners comply with stringent new anti-pollution regulations that come into force at the country's ports on 1 March 2012.
North Europe to Asia Trade - General Rate increase 2012-2-2Currently, ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs on OOCL North Europe to Asia Trade.
CMA CGM in new service deal with CSCL and UASC 2012-2-2As part of an agreement with CSCL and UASC, CMA CGM announced the reorganisation of its CIMEX 1 service on the Asia-Middle East market as from February 2.
MOL drops slots on OOCL Philippine feeder 2012-2-1Mitsui O.S.K. Lines (MOL) is to drop its slot charter on the weekly Philippine feeder PHF2 from Hong Kong to Shenzhen-Shekou run by Orient Overseas Container Line (OOCL), according to Exim News Service.
Maersk to cut back capacity by 20 per cent 2012-2-1Maersk Line is to cut back capacity by 20 per cent on its Asia-Europe AE2 loop in March bringing its average capacity of 10,790 TEUs to 8,612 TEUs after adding a new service next month, Exim News Service reports.
Tanker rates to climb 20 pc 2012-2-1Rent for ships hauling refined fuels will gain the most among oil tankers in 2012, rising as much as 20 per cent because of longer voyages and scrapping of older vessels, Credit Suisse Securities LLC said recently.
