Rodolphe Saadé, group CEO of CMA CGM, announced the surcharge along with first quarter results, which saw revenue surge. Despite that increase in demand, fuel costs resulted in a $77 million net loss for the quarter.
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News & Analysis
25 May 2018
However, freight forwarders and shippers said they did not expect the disappearance of two carrier’s trans-Atlantic services to have much impact on capacity on the United States-Northern Europe route.
25 May 2018
With such a sharp increase in bunker fuel prices that dragged carriers into a loss-making first quarter, it is no surprise that Maersk and Mediterranean Shipping Co. will levy an emergency bunker surcharge from June 1.
23 May 2018
The Canadian East Coast’s very stable market has recently changed significantly: it’s in a state of turmoil with many container port projects being considered — Quebec City (Beauport); Dartmouth, Halifax; Montreal (Contrecoeur); Melford, Nova Scotia; and Sydney, Nova Scotia (Novaporte).
23 May 2018
With the change, effective immediately, foreign carriers can transport laden export-import containers for transhipment and empty containers for repositioning between Indian ports without any specific permission or license.
23 May 2018
Truckers and others are striking because Petrobras, the state-controlled oil company, has gradually increased diesel prices — by more than 40 percent — over six months, at the same time that the Temer administration has substantially hiked fuel taxes.
23 May 2018
Canada's strong economic fundamentals, adequate transport infrastructure, large population close to key ports, and Comprehensive Economic and Trade Agreement implementation, among other factors, point to a strong trade performance in the immediate years ahead.
21 May 2018
Reluctance to embrace new ways of doing business is holding back container shipping, executives said at a Hamburg shipping conference.
18 May 2018
After more than a year of year-over-year negative comparisons since the Hanjin bankruptcy, trans-Pacific spot rates to the East Coast reached parity with the same week a year ago, and almost reached parity to the West Coast, indicating that spot rates have returned to normal seasonal trends.
18 May 2018
One shipping agent based in Santos, who represents a European carrier, said that the Port of Santos has been in “chaotic turmoil for most of this year,” but this week had been “the worst.”
18 May 2018
Although volumes and rates on the Asia to east coast South America trade are rising, capacity is not keeping pace, and one substantive business model reason may be at the heart of why ocean carriers are reluctant to ramp up service.
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Commentary
The pressure for scale — mega-ships reignite Canada east coast port competition
US trade policy — the bumpy ride continues
Blockchain and shipping: the platform hurdle
Does the 'America First' strategy mean 'America Alone'?
The consumer cost of Washington’s ‘win-win’ NAFTA timeline