Maritime News

Four carriers today joined Mediterranean Shipping Co. in announcing congestion surcharges on cargo heading from Asia to U.S. West Coast ports.

Ocean carrier rate revision roundup for Nov. 21
Multiple container lines have planned general rate increases in numerous trade lanes in October and November, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.

United Arab Shipping Co. plans to join the EPIC Service between the Indian subcontinent and North Europe operated until now independently by CMA CGM.

Spot rates on the Asia-Europe trade plunged 13.3 percent this week to $809 per 20-foot container, the third straight week of heavy declines since the Nov. 1 general rate increases failed to stick, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).

Just days after postponing a surcharge on cargo heading from Asia to U.S. West Coast ports, Mediterranean Shipping Co. today told customers it would impose a surcharge next week to mitigate losses from terminal congestion.

Zim Integrated Shipping Services’ net loss narrowed in the third quarter as the Israeli ocean carrier started to benefit from a $3.4 billion debt restructuring.

An independent organization of ocean industry executives seeks to enhance the efficiency and popularity of electronic invoicing by establishing a single standard that simplifies ocean freight invoicing by automating the time-consuming and costly manual invoicing and reconciliation process.

U.S. Federal Maritime Commissioners voted 3-2 to ask members of the Transpacific Stabilization Agreement more questions on their proposal to permanently include westbound trans-Pacific trade in their discussion agreement.

CMA CGM will use at least some of its new reefer fleet to serve growing produce trade between countries bordering both the Black Sea and the Mediterranean.

China Shipping said it will launch the first of five 19,100-TEU container ships by end of the month, supplanting Maersk Line as the operator of the world’s largest container vessel.