31
Jul
Shipping Should Not Ignore New Revenue Standard
Source Maritime News Although the new revenue standard IFRS 15, set to come into force from January 1, 2018, will have a limited impact on the shipping industry, “it can’t be entirely…
28
Jul
Freight rates on the rise and box carriers get ready to reap the rewards
Source Loadstar Container spot rates from Asia to the US, and Asia to Europe were given a lift this week ahead of August GRI and FAK increases. The increase was most…
26
Jul
Impressive transatlantic growth for US imports, but outlook not so bullish
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source Loadstar Container exports from North Europe to North America increased 5.7%, year-on-year, in the first five months of the year, but Drewry is “sceptical” that this growth can be maintained for the…
25
Jul
Container lines could be banking $5bn in profits this year
source : Drewry Strong cargo growth, driven by vigorous retail restocking, will result in global demand growth this year of some 4%, compared to a capacity increase of about 3%, according to the latest…
24
Jul
Soft Asia-Europe spot rates will harden as peak season approaches
There was evidence this week of continued softer Asia-North Europe freight rates just ahead of the peak season. Container spot rates on the route have been ticking down for a number of weeks,…
21
Jul
Cash-hungry niche carrier PIL pops up on the radar of acquisitive mega-carriers
Mike Wackett Singapore-based Pacific International Lines (PIL) could be the next container line to appear on the acquisition radar of the mega-carriers. According to Alphaliner, PIL’s niche status, particularly on the…
20
Jul
Port of Antwerp and Rotterdam forms action committee to tackle ongoing barge congestion
Source: Alexander Whitman The port of Antwerp has formed a committee to tackle the severe barge congestion hampering major European container gateways. The move came as port chief executive Jacques Vandermeiren warned that greater capacity…
19
Jul
Tempers rise as Hamburg container port expansion is awarded to Chinese consortium
A storm is brewing in the city of Hamburg over the port authority awarding the development of the 42ha Steinwerder South container terminal project to a Chinese conglomerate. Hamburg Port Authority (HPA) launched…
17
Jul
Takeover of ‘perfect bride’ OOCL takes container industry one step closer to liner paradise
Source: Drewry maritime The price represents a 31% premium on Friday’s closing price of HKD 60 and values OOIL at around HKD 49.2billion (USD 6.3bn). On the completion of the deal, Cosco will…
17
Jul
CMA -CGM -Congestion Surcharge in Benelux Ports
Dear Customer, With regret we have to inform you about the current situation in the ports of Rotterdam and Antwerp. Both ports are heavily congested and situation has not improved over the last…