Freight forwarder association Clecat is asking the EC competition directorate to urgently investigate what it claims are “distortions” in the liner shipping market. Clecat wrote to commissioner Margrethe Vestager calling for the regulator to establish “the degree of concentration, consolidation, coordination, and cartelisation in the upstream container liner shipping services markets serving...
Maersk said this week it anticipated container spot rates would fall back in the second half of the year, justifying its strategy to secure 70% of its volume under long-term contracts. Spot rates are already showing signs of softening, post Chinese New Year, on the Asia-North Europe tradelane, and the return to...
Ocean carriers fear that fiscal policies designed to stem inflationary pressures in Europe will weaken consumer appetite for non-essential goods, and are preparing to react quickly to adjust capacity. Container spot rates from Asia to North Europe were flat this week, due to the Chinese New Year holiday, with Drewry’s WCI holding...
As a harbinger of spectacular results from the liner industry for the final quarter of 2021, on the back of an 80% average rate increase and a new record for quarterly earnings, Maersk has again upgraded its full-year guidance. Based on preliminary results, the Danish shipping company said today it expected to...
The climate change debate in the shipping industry is hotting up, reflecting the change of atmosphere which has seen many shipowners, previously opposed to rapid decarbonisation measures, suddenly turn as pressure increases. Pressure from governments as well as major companies, consumers and concerned citizens has placed shipping and its operations into the...
MSC’s surprise last-minute €5.7bn bid to acquire Bolloré Africa Logistics from under the noses of its ocean carrier rivals represents a change of direction for the Aponte family business. Hitherto, MSC has relied on organic growth to rise to the top of the container line rankings, and has shied away from large-scale...
Evergreen and Yang Ming are not following the contractual stance of rival operators, including Maersk and Cosco which are locking-in customers to multi-year contracts The two Taiwanese carriers believe they should not bind their customers. Yang Ming president Patrick Tu said: “We have to consider customers’ wishes. They may think freight rates may not...
As it continues to drive its container line services towards a high majority of long-term contract business, Maersk has introduced six different types of agreement for the 2022 tender season. The launch of the new contract options comes as rumours persist that Maersk and subsidiary Hamburg Süd will spurn forwarder bookings next...
Following huge hikes in FAK rates over the past 18 months, as oil prices surge, shippers now face significant increases in bunker surcharges . The price of Rotterdam-sourced low-sulphur fuel oil (LSFO) jumped yesterday by $14.50 per tonne, to $573.50, with the cost of heavy fuel oil (HFO) increasing by $13, to...
