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Freight Cost

Malaysia Mulls Second Shipping Line

Malaysia reportedly may set up a second national shipping line to help reduce freight charges between the peninsula and the states of Sabah and Sarawak on Borneo island, as traders in the two east Malaysian states had complained about high freight costs. "The proposal has come from the Ministry and the Cabinet is actively studying it," an official said. Malaysia International Shipping Corp., controlled by state oil firm Petronas, is currently the country's sole national shipper.


Caribbean Upcoast Trade Experiences Downturn

Shipping's most volatile market, the Caribbean upcoast trade, has plummeted in the last few days to levels not seen since last November and freight costs are now less than half of what they were just two weeks ago, brokers said on Tuesday. But they were also quick to point out that this was merely a normal part of the yearly cycle as refinery turnarounds start to bite into the supply-demand balance. "Every April for the last three years the Aframax (70


Freight Rates To Fly High In Coming Years

The U.S. will become more dependent on tanker-borne petroleum imports in coming years, coinciding with a ship shortage which will push freight costs sharply higher, energy and tanker analysts said on Wednesday. "Products imports are playing a bigger swing role in the U.S. than ever before," Paul Horsnell of Oxford Institute of Energy Studies said. "They're becoming a structural feature of the U.S. system." Horsnell told members of the tanker owners' organization Intertanko


Submarines As Ore Carriers?

Russia'sNorilsk Nickel - a big metal producer -- has finished a feasibility study of a project to use nuclear submarines for ore shipments, which once started will cost $80 million, Norilsk's chairman said. "The feasibility study has been prepared and now the board of directors has to approve spending of up to $80 million for its implementation," Yuri Kotlyar said. "But even then the decommissioning of the submarines should be sanctioned by the state."


Sherborne Sensors New North American Ops

Sherborne Sensors Limited announced the establishment of Sherborne Sensors, Inc., a fully dedicated sales, marketing, logistics and support entity, now serving a growing number of customers throughout the United States, Canada and Mexico. From its offices in Mahwah (Bergen County), N.J., USA, Sherborne Sensors, Inc., is providing a number of enhanced local service offerings, including reduced product lead times and freight costs; real-time order fulfillment and applications engineering


Auckland Port Led JV to Develop Inland Port

Ports of Auckland, Napier Port and Icepak today announced the formation of a joint-venture to develop a new inland port and intermodal freight hub at Longburn, Palmerston North and to target Growth in Manawatu-Whanganui Region. Located on the site of the old Longburn freezing works owned by Icepak, the venture will see the nine hectare site transformed into a significant intermodal logistics and manufacturing hub.


MarAd Launches Transportation Freight Financing Program Website

The Maritime Administration (MarAd,) with the Export-Import Bank, has developed a program to provide added incentives for the commercial public to ship their United States export cargo on U.S.-flag vessels. Under this program, the Ex-Im Bank provides guaranteed working capital loans for transportation-related cost associated with the export move that is carried on a U.S.-flag vessel. Such transportation costs could include ocean freight, marine insurance, export packing, trucking


Single Hull Tanker Ban Could Send Freight Rates Soaring

When OPA 90 was introduced in wake of the Valdez accident, the stipulation that tankers trading in the U.S. must be double hulled was roundly panned throughout the world, as industry experts bemoaned the fact that one country have such a deciding impact on vessel design. How soon they forget. Ten years and a few tragic sinkings off European shores have let to Italy's sudden plan to ban single-hulled tankers from seven key port areas


NOL Group: $254m 1Q Loss

Ng Yat Chung

High fuel costs, low freight rates conspire to create tough 1Q NOL Group, the Singapore-based container shipping and logistics company, reported a first quarter 2012 net loss of 254 million compared to a net loss of $10 million in the same period last year.  NOL said high fuel costs and low freight rates in container shipping affected first quarter 2012 performance.   NOL said that in the first quarter of 2012 it achieved about $100 million of cost savings under its ongoing


Hapag-Lloyd Operating Profit Down on Lower Freight Rates

Containership loading: Photo Hapag-Lloyd

Germany's Hapag-Lloyd's said it expected operating profit to drop considerably this year after tough competition in container shipping dragged freight rates lower in the second quarter. The company, partly owned by TUI AG, posted a second-quarter operating loss of 73.7 million euros ($98.5 million), compared with an operating profit of 13.5 million euros a year earlier. "The fact that we ended up with this unsatisfactory result despite clear efforts to cut costs is down to the


Investment Impact in Inland Waterways System

National Waterways

  The National Waterways Foundation (NWF) has commissioned and released a two-year, ground-breaking study by the University of Tennessee and the University of Kentucky, “Inland Navigation in the United States: An Evaluation of Economic Impacts and the Potential Effects of


Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs, shipping and trade sources said. Crude prices have fallen nearly 60 percent since June and


Maersk Line to Increase Asia-Europe Rates

Maersk_Line_Logo.svg.png

Maersk Line, part of Denmark's A. P. Moller-Maersk, plans to increase shipping freight rates for transporting containers from ports in Asia to Northern Europe by $400 per 20-foot container (TEU) from Feb. 1, it said on Tuesday. Rates on the route, the world's busiest for container shipping


Tanker with Kurdish Crude Leaving U.S. After 6-month Dispute

After being stuck in legal limbo for six months, a tanker loaded with 1 million barrels of Kurdish crude headed east on Tuesday to leave U.S. waters after Baghdad and the Kurds reached a deal to share oil revenue. The United Kalavrvta tanker, which had been anchored in the U.S


Lakes Defend US Build Requirement of Jones Act

Jim Weakley (Photo courtesy of LCA)

An effort to remove the U.S.-build requirement from the Jones Act is being soundly rejected by Great Lakes Maritime Task Force, the largest labor/management coalition ever assembled to promote shipping on America’s Fourth Sea Coast. The Task Force said it sees no benefit to allowing


Falling Oil Prices Help Boost Braemar Revenues

Image: Braemar Shipping

Braemar Shipping Services said its ship broking division saw an improvement in its performance during the last quarter. The merger in July with smaller rival ACM Shipping also came in as shot in the arm. A strong dollar and weak oil prices are good for business, too, and freight rates


Singapore's Maritime Industry Reports Strong Performance

Image: Port of Singapore

Singapore continues to be the world's top bunkering port, while its annual vessel arrival tonnage also saw growth in 2014, according to advance estimates announced by Transport Minister Lui Tuck Yew. The Port of Singapore maintained its position as one of the busiest in the world as it recorded


Greencarrier Freight Services Achieves ISO Standards

Georg Skivik Moltu (Photo courtesy: Greencarrier Freight Services)

Greencarrier Freight Services’ business has strengthened its position in the energy and project forwarding markets by achieving management (ISO 9001) and environmental (ISO 14001) certification for its Energy & Project Business Unit.


EU Backs Dover Strait Sea Connection

Photo courtesy: Ten-T Program

The EU's TEN-T Program will back with over $16.25million the improvement of the sea connection between Dover in The UK and Calais in France.   The developments include better traffic management, berth enhancements and a new rail freight connection between Calais and southern France.


Webinar to Demonstrate Barge Emissions Tool

Matthew Payne, Team Leader at SmartWay Transport Partnership, will lead the webinar.

The U.S. Environmental Protection Agency (EPA) and SmartWay will host a webinar for barge carriers and other interested stakeholders to demonstrate Barge Tool, designed to help companies calculate carbon, NOx and PM emissions from barge freight movement.  


Dry Bulk Shipping Group CMB Expects Volatile 2015

Belgian dry bulk shipping group CMB on Thursday said markets would remain volatile after a disappointing 2014 in which falling commodity prices reduced stock building by clients.   The group added that freight rates would come to a sustainable level once overcapacity in the shipping market


CEVA Opens 4th Chicago Office

Logo

  CEVA Logistics, one of the world's leading supply chain management companies, has expanded its market presence in Chicago with the opening of a fourth facility. The company's Chicago operations near O'Hare International Airport (ORD) now encompass four facilities totaling over 650,000 sq


Maersk Chief Warns on Global Trade

Nils S. Andersen, Maersk Group CEO (Source: Maersk Line)

Nils Andersen,  chief executive  of AP Møller-Maersks, has warned that global trade will never return to scorching pre-crisis growth rates, in part because western companies are looking to manufacture more goods closer to home, says a report in the Financial Times.


Study Examines Impacts of Inland Waterway Investment

File photo

The National Waterways Foundation (NWF) has commissioned and released a two-year study to examine the U.S. inland waterways’ national economic return on investment and the need for and benefits of an accelerated program of waterways system improvements that sustain and create American jobs.


DB Schenker, Maersk Line to Cut CO2 Emissions

Pic by Maersk Line

DB Schenker Logistics and Maersk Line have signed a six-year strategic agreement on reducing CO2 emissions from ocean freight. The partnership emphasizes the companies' shared commitment to sustainable growth, says a press release by DB Schenker.






 
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