Freight Shipping News
SHIPPING INDUSTRY NEWS - 21st May 2012
A Mediterranean Shipping Co. vessel appears to be undergoing repairs after an onboard explosion rocked the 900-foot container ship roughly 70 miles north of San Juan, Puerto Rico. None of the 25-member crew of the MSC Idil were injured, but the explosion caused the ship to begin listing and take water into a fuel tank and cargo compartment, according to the U.S. Coast Guard.
The crew of the MSC Idil said the explosion, which was most likely caused by onboard welding work, hasn’t caused the leaking of any hazardous materials. The USCG said Saturday that a commercial salvage team was being sent to determine the condition of the container ship.
Panalpina is to appeal against the amount of its recent fine of Sfr59 million (US$65m) for anti-trust behaviour from the European Commission
CEO Monika Ribar said: “We believe the amount is not justified, which is why we are going to appeal the decision to the European General Court.” This follows fines totalling Euro 169 million to forwarding companies: Kuehne + Nagel, Nippon Express, Panalpina, Schenker, UTi Worldwide, Toll Global Forwarding, UPS (as successor of Menlo Worldwide Forwarding), Ceva and EGL, DHL Global Forwarding, DSV Air & Sea, Exel, Expeditors Hong Kong, Hellmann Worldwide Logistics, and Yusen Shenda Air & Sea Service (Shanghai).
Spot rates show signs of crashing as new capacity enters the trade, Alphaliner says. Freight rates in the key Asia-to-Europe container trades appear to have peaked after a nearly fourfold increase since December, according to Alphaliner.
After carriers successfully pushed through four increases in the first four months of this year — spot pricing reached $1,934 per 20-foot equivalent unit in late April from $490 in December — forward rates traded on the Shanghai Shipping Exchange dipped last week.
US port terminal operator, Global Container Terminals (GCT), has unveiled plans to develop a 70-acre facility at Bayonne, New Jersey, capable of accommodating the next generation of containerships
The company, which operates facilities on the east and west coasts, says the multi-million dollar Global Terminal at Port Jersey, scheduled to open in 2014, will be the most advanced ocean terminal at the port of New York and New Jersey.
Capacity on the Asia-Europe trade lanes could fluctuate by 20,000teu a week over the next three months, because operators are deploying different sizes of vessels on the same services
Analysts at SeaIntel Maritime say the variation in vessel capacity could be large enough to affect supply and demand, and might also make it difficult to assess the impact of the container lines’ programme of General Rate Increases (GRIs).
NOL Group today blamed high fuel costs and low freight rates in container shipping for a first quarter net loss of US$254million, compared with a net loss of $10 million in the same period last year
The Singapore-based container shipping and logistics company said the loss was despite about $100 million of cost savings achieved in Q1.
It said the savings were primarily through reduced fuel consumption and improved operational costs and NOL was on track to achieve $500 million worth of savings for 2012.
DELL reduces freight costs by reducing air freight and replacing with sea freight at much lower costs
In 2010, Dell was sea-freighting just 5% of its notebooks. By the fourth quarter of 2011, it was transporting half these volumes by sea, reducing costs by nearly a third. Over the past four years, the US computer shipper has completely redesigned its supply chain, and the results are palpable: its forecast accuracy has tripled; manufacturing costs are down; and it pays less for freight services.