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Maritime News

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10/20/2014
The slump in crude oil prices over the past three months has sharply reduced ocean carriers’ unit costs as they face declining cargo volumes in the seasonally slack fourth quarter. Brent crude, the international benchmark, is trading at around $86 a barrel today, down 25 percent from a peak of $115...
10/18/2014
An environmental accident was averted yesterday after a Canadian tugboat rescued a stranded Russian container vessel hauling hundreds of tons of fuel, according to the Canadian Press. The vessel lost power later Thursday night near Haida Gwaii while heading to Russia from Everett, Washington state, according to the Associated Press. Authorities...
10/17/2014
Full-size chartTrans-Pacific carriers received a small boost from a planned Oct. 15 rate increase this week, the Shanghai Containerized Freight Index shows. The SCFI showed rates from Asia to the U.S. West Coast up 13.1 percent, or $248 per 40-foot container, this week to $2,139. It was the first gain on...
10/17/2014
The Far East-U.S. East Coast container trade is shaping up as the potential “battlefield” of the future as an enlarged Panama Canal allows carriers to cascade larger ships from the Far East-Europe trade, according to Bimco. Spot freight rates on the route hit an all-time high of $4,636 at the beginning...
10/16/2014
SHENZHEN, China — The shift of freight from air to ocean is just a blip for container lines but has hit the air cargo industry hard, with few signs of relenting, a maritime consultant said Thursday. The air cargo industry lost 5.4 million metric tons of cargo to container lines between...



 
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