• 2012 July 12 18:06

    Transpacific lines plan August rate hike

    Transpacific container shipping lines have announced August freight rate increases on dry cargo and are considering rate rises also on refrigerated cargo as the market recovers, a group representing the industry said, reported Reuters.

    Carriers serving the Asia-US trade have announced during the past week dry cargo rate increases averaging US$500 per 40-foot container (FEU) to the US West Coast and $700 per FEU for all other shipments, the Transpacific Stabilisation Agreement (TSA) said.

    "The effective dates vary by carrier, but for the most part will be during the first week of August," Oakland, California-based TSA said.

    The global shipping industry has been recovering this year from a more than three-year slump, which took many shipping companies into the red and some into bankruptcy.

    Established in 1989, the TSA calls itself a research and discussion forum of major container shipping lines serving the trade from Asia to ports and inland points in the United States.

    Its members include Denmark's Maersk Line, privately owned Switzerland-based Mediterranean Shipping Co (MSC), France's privately held CMA CGM, China's Cosco, Korea's Hanjin Shipping, Taiwan's Evergreen Marine and several others.

    TSA member lines are recommending increases to refrigerated cargo rates of $1,000 per FEU to the US West Coast and $1,250 per FEU for all other destinations with effect from August 15, the TSA said.

    "While refrigerated cargoes such as seafood represent a relatively small share of total cargo eastbound, they make an important contribution to the round-trip cost of managing expensive equipment that is in high demand on the US-Asia return," the TSA said.

    Carriers are determined to maximise yield from ships they expect to approach full utilisation throughout the summer months, Brian Conrad, TSA executive administrator, said in the statement.

    "Too much is at stake in 2012 for the lines, their investors, their creditors and their suppliers and vendors to leave money on the table after sustaining heavy losses in two of the last three years, and amid strengthening demand," he said.

    The TSA in May recommended a peak-season surcharge and said Asia-US container shipping lines expected a strong summer in terms of cargo traffic.


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12:15 MABUX: Bunker Outlook, Week 18, 2024
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11:19 Tristar Eships to manage its carbon footprint with Wartsila’s Decarbonisation Services
10:48 Topsoe awarded contract to support FEED study for new low-carbon ammonia plant in Louisiana, US
09:26 Maersk posts Q1 2024 results

2024 May 1

17:13 Matson picks Kongsberg Maritime's hybrid technology for its new LNG-powered container ships
16:22 All American Marine delivers hydrofoil-assisted tour vessel to Phillips Glaciers
15:24 Corvus Energy to supply ESS for the first Net Zero Subsea Construction Vessel
14:02 Stena Line taps Dennis Tetzlaff as Chief Operating Officer Fleet
12:31 APSEZ secures AAA Rating – India’s first private infrastructure developer with AAA
11:57 Unifeeder continues its expansion in Latin America
10:09 IMO's Legal Committee finalizes new guidelines on seafarer criminalization

2024 April 30

16:14 LR grants AiP to H2SITE’s AMMONIA to H2POWER technology
15:17 IRS partners with MARIN to enhance technical expertise in shipbuilding
13:42 Allseas T&I contract for Gennaker offshore wind farm
12:03 CSSC and QatarEnergy sign agreement for construction of 18 Q-Max class LNG carriers
10:13 First ship departs Baltimore through limited access channel

2024 April 29

17:42 Abu Dhabi leaps a staggering 10 places in 2024 LMC Report
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15:13 Hitachi, Chantiers de l’Atlantique to seal French offshore substation contract
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13:37 Gasum Group's Q1 sales volumes rose 73% due to higher natural gas volumes
12:14 New Zealand cruise market on track for recovery
11:40 Vitol announces satisfaction of a condition precedent relating to the golden power proceeding
10:41 JERA Energy India begins operations as JERA’s base of operations in the country

2024 April 28

15:13 IACS publishes new recommendation for conducting commissioning testing of BWMS
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12:27 Philly Shipyard and HD Hyundai Heavy Industries sign MoU
12:03 Equinor to commence second tranche of the 2024 share buy-back programme
10:16 Gebrüder Weiss enlarges logistics center in Budapest
09:37 Opening of MARIN's Seven Oceans Simulator centre (SOSc) in the Netherlands slated for May 2024

2024 April 27

16:36 National Transportation Safety Board: Undetected flooding from a through-hull pipe led to capsizing of dredging vessel
15:49 Chantiers de l’Atlantique picks Brunvoll propulsion for the world’s largest sailing ships
14:31 US Navy announces first MCM MP embarked on USS Canberra
13:42 Interim president Michelle Kruger takes helm at Austal USA
12:17 DEME annnounces start of share buyback program
10:28 Ships with Korean-made LNG containment face key supply chain disruptions

2024 April 26

18:04 Seaspan celebrates 30 years of ship repair in Victoria
17:31 HMM enhances maritime safety with AI technology
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16:42 Van Oord christens two new hybrid water injection dredgers and an unmanned survey vessel in Rotterdam
15:57 CMA CGM announces FAK rates from Asia to North Europe
15:24 MOL announced delivery of LPG dual-fuel LPG/ammonia carrier Aquamarine Progress II
14:53 DP World and Asian Terminals launch new Tanza Barge Terminal in Cavite
14:23 MH Simonsen orders eight hybrid methanol dual-fuel tankers at China’s Jiangxi New Jiangzhou Shipbuilding
13:47 DP World and Malaysia’s Sabah Ports form a partnership to manage Sapangar Bay Container Port
13:22 SCHOTTEL to equip Guangzhou Port Group’s latest e-tug with two RudderPropellers type SRP 360
12:57 FESCO Group proposes a mechanism in favour of Russian logistics operators over their foreign competitors in domestic transport market
12:39 SSK shipyard launches the Project 14400 support ship Nikolai Kamov in the Nizhny Novgorod region
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11:14 Greek shipowners leaders in the secondary market once again
10:08 MPCC secures ECA-covered sustainable financing for its dual-fuel methanol newbuildings
09:38 Romanian port of Constantza to receive a new oil products terminal

2024 April 25

18:07 MSC collaborates with GSBN to trial integrated safe transportation certification verification process
17:23 China launches construction of cutting-edge marine research vessel
17:06 CMA CGM and Bpifrance launch €200mln fund to decarbonize French maritime sector
16:46 Avenir LNG orders two 20,000 M3 LNG bunker delivery vessels
16:05 Port of Amsterdam revenues up to €190.4 million in 2023
15:46 OOCL launches Transpacific Latin Pacific 5 to offer express linkage between Asia and Mexico
15:23 MOL is 1st Japanese shipping company to raise funds through transition linked loan using performance-based interest subsidy system
14:53 Trident Energy enters the Republic of Congo with strategic deal
14:21 LNG-powered ship moored in Koper for the first time
13:38 MABUX: Bunker Outlook, Week 17, 2024
13:32 The Grimaldi Group's Great Abidjan delivered in South Korea