The spot rate for container shipping on the Asia-Europe route is likely to rise to $2000 per TEU in two months as carriers plan to take out more capacity following the Chinese New Year due from the middle of this month,

says Shipping Gazette quoting Danske Bank’s container rate index. The
present rate is $1763 per TEU, the report adds quoting International
Freighting Weekly. The Asia-Europe route has been defined at the route
between the Chinese ports of Shanghai, Ningbo and Shenzhen and the
European ports of Antwerp, Rotterdam, Bremerhaven and Hamburg and the
spot rate as the charge for transporting a 20-ft container plus all
surcharges excluding the terminal handling charges. At present,
carriers are charging 18 surcharges including the peak season
surcharges although it is over. Meanwhile, reports are that Shanghai
Containerised Freight Index recently surged 7.2 per cent as spot rates
on Asia-Europe and Asia-US routes went up considerably. According to
Paris-based consultancy Alphaliner, the world’s container fleet
capacity decreased by 142,000 TEUs between the beginning of January and
early February.

Source: The Hindu Business Line

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• COSCO Adds Peak Surcharge

     China Ocean Shipping Co. announced a peak season surcharge of $400 per 40-foot container and $320 per 20-foot container on all cargo moving from the Far East and Indian subcontinent to the U.S. The surcharge, effective immediately, is to run until April 30, 2010. With freight rates in the eastbound Pacific

• Trans-Pacific spot price settles

    After two weeks of strong week-to-week increases, the spot rate for shipping a 40-foot container from Hong Kong to Los Angeles settled down, stabilizing at $1,669 in the week ended Jan. 25, the same rate as in the previous week. The spike in prices over the last two weeks was

• Trans-Pacific spot prices to stabilize

    The spot rate for shipping a 40-foot container from Hong Kong to Los Angeles stood at $1,268 last week for the third straight week, according to an index published by London-based Drewry Shipping Consultants. While that rate is down 28.2 percent from the same week in 2008, it is in

• Capacity to the Far East to Europe route

     Carriers hope that the tight space situation over the next few months will help persuade shippers to agree to pay a peak season surcharge on the Far East-Europe trades. This optimism comes on the back of significant capacity reductions on the Far East to Europe route over the past 12 months, with

• Pacific Carriers Seek $ 800 Spring Rate Hike

     Shipping lines operating in the Pacific plan to increase freight rates to the U.S. West Coast by $800 per 40-foot container, some 50 percent beyond recent spot rates on the troubled eastbound trade lane. The Transpacific Stabilization Agreement, a discussion group of container lines, issued the voluntary guidelines late Tuesday

• TSA slaps help emergency fee revenue, shipping companies

    The Transpacific Stabilization Agreement (TSA) has imposed an emergency revenue charge (ERC) to help liner shipping companies recover revenue losses before the next service contracts are due to be negotiated in May. The ERC applies to shippers who have binding service contracts with TSA member lines.

• Murmansk, in an effort to engage in a large container port in Northern Europe

    Murmansk Commercial Sea Port expects it could become a base container port for the North Europe countries and Russia’s Northwest, the MCSP OJSC statement said. With the Northern Sea Route Murmansk could be integrated into world container system and strive to turn into major container port for freight traffic from

• TSA emergency levy is a case fit for the competition of the Commission, said WISA

    Western India Shippers’ Association (WISA), which has been spearheading shipper’s movenment in the country, reacts to the recent introduction of Emergency Revenue Charge by the major shipping group TSA. The association’s secretary SRL Narasimhan brings forth some of the important issues. The Transpacific Stabilization Agreement (TSA) has imposed an Emergency

• Trans-Pacific carriers to increase shelter fees

    Shipping lines that carry U.S. exports to Asia will increase their bunker fuel surcharges on Oct. 1 according to a formula the members of the Westbound Transpacific Stabilization Agreement adopted last year. The WTSA Monday published voluntary guidelines calling for an increase of $132 per 40-foot container on shipments from West

• Container prices in China surge 24 percent

    Ocean container spot freight rates on the key export trades out of China to Europe and the U.S. east and west coasts soared by an average of 24 percent in the past three months. The rate of recovery is much faster than expected, buoyed by a surge in demand this

• S. Korean exporters Burdened by high delivery rates

    Shippers operating North America-bound services additionally increased an extra oil charge by $70 this month and are slated to newly impose emergency fare surcharges of $320 and $400 per container for 20-feet and 40-feet containers, respectively. Shippers operating services to Europe are poised to raise fare by $250 and $500

• CTSA seeks same increases as TSA

     Member lines in the Canada Transpacific Stabilization Agreement have mirrored a Transpacific Stabilization Agreement rate increase announcement last week from the Transpacific Stabilization Agreement seeking $800 and $1,000 per FEU increases on U.S. West Coast and intermodal shipments, respectively. Like the TSA, CTSA members said they would also seek a $400-per-container

• FreeSeas Announces Charter Agreement on six of its vessels Handysize

    FreeSeas Inc., a transporter of dry-bulk cargoes through the ownership and operation of a fleet of eight Handysize vessels and two Handymax vessels, announced yesterday new charters for six of its vessels, including the recently purchased Free Neptune, as well as the Free Envoy, Free Hero, Free Maverick, Free Knight,

• Control laws to require shippers shipping

    Asian shippers are urging Sri Lanka to introduce laws to prevent arbitrary price increases by shipping lines. These price increases by shipping lines make Sri Lankan exports more expensive. “Over the past year, liners continued to collude to impose new and higher surcharges. If this cartelization by shipping lines continues, the

• SCI-Europe-India to hike prices

    State-owned Shipping Corporation of India will seek a rate increase on the westbound trades from India to Europe, as part of what it called a rate restoration program. Effective March 1, the planned increase will be $250 per 20-foot equivalent unit. The rate increase applies to all cargo moving from