As carriers prepare to implement the next round of Asia-Europe general rate increases on Monday, June 1, the spot market response was to plunge to the lowest ever official freight rate seen on the trade.
The cost savings brought by mega-ships are decreasing and might not even be realized as container ships get ever larger, the International Transport Federation warns.
The expansion of the Panama Canal early next year will make an enormous quantity of container ship tonnage available for services that transit the canal, wiping away current capacity restrictions that restrict usage to only small and inefficient ships by today’s standards.
Salvage and firefighting personnel have made progress in containing the fire on board the 33,772 dwt multipurpose ship Purple Beach in the German Bay near Wilhelmshaven.
Canada will not require domestic shipowners operating on the Great Lakes to equip their ships with costly ballast treatment systems until effective technology exists, Canadian Transport Minister Lisa Raitt said last week.
U.S. shippers’ expectations for freight growth has dropped to its lowest levels in nearly five years, according to a recent survey.
Construction has begun on the second of two liquefied natural gas-fueled ships that Crowley Maritime Corp. has ordered for the U.S. mainland-Puerto Rico trade.
Container ship schedule reliability on the growing trans-Atlantic route during April was the lowest in at least three years, according to SeaIntel Maritime Analysis.
Shreyas Shipping and Logistics swung to a net profit of Rs. 61.75 crore (about $9.6 million) in the fiscal year ended March 31, a big turnaround from its loss of Rs. 4.32 crore ($675,000) in the previous year.
Rising charter rates helped Greek container shipowner Box Ships narrow its first-quarter loss close to break even.