Specialized news

Ocean Carrier Rate Revision Roundup for April 18

Ocean Carrier Rate Revision Roundup for April 18

Several carriers have planned general rate increases in April and May, although any gains achieved could be temporary as overcapacity and sluggish global demand continue. According to Drewry, slow-steaming and layups allowed carriers to limit effective capacity growth to 22 percent since 2008, despite introduction of larger ships. Without those measures, capacity would have grown 40 percent, Drewry said. Rate competition is expected to intensify in coming months, as the launch of the P3 Network could lead to cargo shifts between alliances and carriers, according to Alphaliner. While general rate increases achieving 75 percent of the intended increase are regarded as acceptable... Read more > >
Hapag-Lloyd merger creates 4th largest line

Hapag-Lloyd merger creates 4th largest line

German container shipper Hapag-Lloyd and its Chilean peer Compania Sud Americana de Vapores have signed a binding merger agreement that will create the world's fourth-largest container-shipping company in terms of capacity. Hamburg-based Hapag-Lloyd said CSAV would control 34 percent of the merged entity after two capital increases totalling US$1.02 billion, reported Dow Jones Newswires. The two companies will have a combined annual revenue of $12.46 million and a transport capacity of one million, 20-foot containers aboard 200 ships. Hapag-Lloyd is scheduled to be listed later this year on the Frankfurt Stock Exchange. Big mergers are rare in the container-shipping industry, which moves 95 percent... Read more > >
Overcapacity in North Europe Weighs on Rotterdam Traffic

Overcapacity in North Europe Weighs on Rotterdam Traffic

Container traffic in Rotterdam inched up just 0.3 percent in the first quarter, as Europe’s biggest container hub confronted continuing overcapacity in the Le Havre-to-Hamburg port range and changes in the container shipping sector. The Dutch port handled 2.905 million TEUs in the first three months of the year, up from 2.898 million TEUs in the same period in 2013. The increase in containers was shared between the long-haul trades with Asia and North America and short-sea routes to and from the Baltic and the U.K. Total throughput declined 0.2 percent year-over-year to 108.9 million metric tons, against 109.1 million metric tons... Read more > >
Transatlantic box volumes and rates fall in February

Transatlantic box volumes and rates fall in February

Container Trades Statistics data reveals impact of a dip in European imports SHIPPING lines operating on the transatlantic trade lane saw a small decline in volumes in February, as European imports took a tumble, but there was growth in the opposite direction. The latest figures from Container Trades Statistics show that total volumes on the trade lane — in both the eastbound and westbound direction — reached 509,900 teu in February, down from 510,400 teu a year ago. In the headhaul westbound direction, carryings increased 5.7% on-year in February to reach 297,000 teu. In the opposite direction, volumes for the month declined by 7.1%... Read more > >
MSC launches new Asia-West Africa service

MSC launches new Asia-West Africa service

More direct calls will cut out the need to tranship and aims to reduce transit times MEDITERRANEAN Shipping Co will launch a new direct service on the fast-growing Asia-West Africa trade lane to cut down on voyage times. The Geneva-headquartered shipping line said that all Asia-West Africa volumes moved via transhipment in the Mediterranean would be shipped directly to West Africa on its Africa Express Service. The service will employ 10 vessels with an average capacity of 4,000 teu. The new service will cut transit time from Chiwan in China to Tin Can Island-Lagos from the current 44 days to 28 days. The full... Read more > >
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