Following five consecutive monthly increases, the overall Stifel Logistics Confidence Index fell 1 index point to 51.5 in April. Despite the decline, the index remained above the significant 50 mark, denoting expansion, for the third consecutive month. However, a look at the present situation reveals that both air and sea freight volumes are below those expected relative to the time of year. Although the index for sea freight remained virtually flat at 47.4 in April (down 0.1 points from March), it still indicates a decline in volumes. Meanwhile, the index for current air freight volumes fell 1.2 points to 42.0 for the month, indicating an even greater decline relative to the volumes expected for the time of year. In terms of year-on-year comparisons, the sea freight index was 1.4 points higher in April 2013 compared with April 2012. In contrast, the index for air freight was 2.7 points lower compared with the same month last year. Since the Index’s inception over a year ago, the outlook for the next six months has remained very optimistic with respondents consistently anticipating positive volume growth. Although this trend continued in April, with the index at 58.4, it fell 1.3 points which suggests respondents are perhaps becoming less confident in a market revival taking place any time soon.
On July 15, the European Commission published the proposed amendments of the "sulphur directive." Ministers of the EU member states and members of European parliament will begin debates on the directive in the autumn. The proposal is based on the decision made by the International Maritime Organization IMO in 2008 to set the more stringent limits of sulphur content of the bunker fuel and emissions. The severe consequences it will cause to the North Europe have become clear
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a ninth straight session on Friday on lower vessel activity. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 30 points, or 2.43 percent, to 1,205. The Baltic's capesize index fell 37 points, or 1.58 percent, to 2,306 points.
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a tenth straight session on Monday as vessel rates continued to fall. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 19 points, or 1.58 percent, to 1,186. The Baltic's capesize index fell 13 points, or 0.56 percent, to 2,293 points.
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an 11th straight session on Tuesday, mainly driven by a heavy drop in capesize vessel rates. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 88 points, or 7.42 percent, to 1,098. The Baltic's capesize index fell 264 points, or 11.5 percent, to 2,029 points.
The Baltic Exchange main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday for a 12th straight session on weak rates for capesize vessels. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 37 points, or 3.37 percent, to 1,061. The Baltic's capesize index fell 83 points, or 4.09 percent, to 1,946 points.
Little change occurred in the latest monthly Stifel Logistics Confidence Index. Slipping only 0.1 points from 57 in March to 56.9 this month, the overall index did however favor improvements in the present situation increasing 1.6 points to 51.8. However, expectations for the next six months dimmed falling 1.8 points to 62 for April. The monthly airfreight data is such an example. For April, the present situation increased 0.5 points to 49 whereas expectations declined 2 points to 61.3
CrewInspector, an online crew management software provider, recently signed up with number of crew recruitment and crew management agencies based in Ukraine to provide its crewing software for businesses in Ukrainian market. “We see that companies are looking for straight forward software solutions not requiring long set-up and integration. CrewInspector offers high quality solution at very attractive price and that’s the main reason why we are so popular among start-up and
Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks. Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts, according to the US Federal Maritime Commission (FMC). The agency also indicated that uptake of index-linked container contracts on US trades was fast growing
Marine logistics company Griffin Kinetic (GK) and Tundra Maritime Defence Services, (Tundra MDS) a maritime security provider, announced an exclusive partnership to provide logistics and security services to the international marine community. This collaboration leverages GK’s capabilities and experience in marine logistics and Tundra MDS’s experience and expertise in the maritime security sector. Both companies have banked in more than 25 years of relevant industry experience
The U.S. Department of Transportation’s Saint Lawrence Seaway Development Corporation (SLSDC) today joined the Port of Cleveland in announcing the launch of the Port of Cleveland’s Express Ocean Freight Service. The new service will run between the Port of Cleveland and Antwerp
Although US refined products exports largely underpin medium-range (MR) product tanker demand in the Atlantic Basin, there is little evidence of similar stability in US Gulf – UK Continent (TC14) freight rates, find shipping industry advisors Poten & Partners in a recent study
A significant majority of shareholders in Chilean shipper Compania SudAmericana de Vapores lent their support to the firm's merger with Germany's Hapag-Lloyd, allowing the agreed deal to clear a hurdle. The deal to create the world's No
Some relatives of the more than 200 children missing in a sunken South Korean ferry offered DNA swabs on Saturday to help identify the dead as the rescue turned into a mission to recover the vessel and the bodies of those on board. The Sewol, carrying 476 passengers and crew
Deutsche Post expects its DHL forwarding business to be granted immunity from prosecution and fines by Singapore antitrust authorities, who are investigating 11 companies for alleged price fixing, the German logistics company said.
North Sea Forties crude differentials were unchanged on Wednesday in very quiet pre-Easter trade, with dealers still watching two potential VLCC shipments to Asia and the stuttering return of Libyan oil supplies. A strong early rally in flat-price Brent futures also kept traders on the sidelines
Specialist transport insurance provider, TT Club has appointed a network partner in The Philippines. Del Rosario Pandiphil Inc. becomes the seventh such partner that the international logistics and freight handling insurer has in the Asia-Pacific region
Prices for new dry freight containers increased in the opening months of 2014 for the first time in two years, observes Drewry's latest 'Container Leasing and Container Census'. Standard box prices declined gradually throughout 2013, falling by late in the year to their lowest point since 2009
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped for a 14th straight session on Friday, driven mainly by falling capesize rates. The overall index, which factors in the average daily earnings of capesize, panamax
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday for a 13th straight session as vessel rates continued to soften. The overall index, which factors in the average daily earnings of capesize, panamax
Drewry’s latest Container Equipment Insight, exclusive to subscribers of Drewry’s Container Leasing and Container Census reports, saw prices for new dry freight containers increase in the opening months of 2014 for the first time in two years.
As the aftershocks from a massive 8.2 magnitude quake that rattled northern Chile entered a third day, basic services were still out in the port city Iquique nearest the epicenter and residents fearful of tsunamis were fleeing into the hills.
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an eighth consecutive session on Thursday as rates for capesize and panamax vessels continued lower. The overall index, which factors in the average daily earnings of capesize
Global freight management company Geodis Wilson has announced the appointment of Mark Ness as new Global Industry Director – FMCG (Fast Moving Consumer Goods). Mark’s appointment reflects the importance to Geodis Wilson managing growth in the highly volatile FMCG – Retail
The industry is stuck in a vicious cycle, Drewry reports – although new ships may give carriers lower slot costs, the supply/demand dynamics are out of kilter and freight rates remain very volatile. Drewry Maritime Research’s 1Q14 Container Forecaster report highlights that the