Drewry’s Hong Kong-Los Angeles Container Rate Benchmark rose $250 this week, achieving almost 63 percent of a proposed $400 per-40-foot-container general rate increase by USL and CMA CGM set for May 21.
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News & Analysis
22 May 2013
Crowley Maritime’s liner services group is adding more than 3,000 pieces of cargo handling equipment to its fleet, allowing the transportation company to expand its services in Puerto Rico, the Caribbean and Latin America.
22 May 2013
Trans-Pacific container lines got a reprieve from sliding freight rates this week when they put a general rate increase into effect on May 21, but freight rates are likely to continue to slide in the major east-west trades because some carriers continue to slash rates after repeated GRIs in an effort to gain market share.
22 May 2013
Mitsui O.S.K. Lines will begin operating in Canada as “MOL (Canada),” effective Aug. 1.
22 May 2013
Mediterranean Shipping Co. will increase rates for all dry and refrigerated cargo on its trade from Limassol, Cyprus, to any destination in the Far East, beginning June 1.
21 May 2013
United Arab Shipping Co.’s ship Asir, which was crippled by an explosion that occurred in its engine room on May 11, has been moved to Jeddah, Saudi Arabia, by two tugs from Smit Salvage.
21 May 2013
Ocean carriers are paying a heavy price for failing to rein in capacity on the Asia-Mediterranean route despite the deepening economic crisis across southern Europe, according to shipping consultant Drewry.
20 May 2013
Zim Integrated Shipping Services will boost rates for all shipments on its trade from Asia to the east coast of South America, starting June 15.
20 May 2013
Sea Star Line LLC has named Tim Nolan executive vice president, reporting to company President Peter Keller. He will be based in Jacksonville, Fla.
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Commentary
Ocean Carriers’ Internal Battle