The Drewry Hong
Kong-Los Angeles container rate benchmark, published in the latest
Container Freight Rate Insight report, increased by just 3% to US$2,452
per 40ft container this week, showing that the carriersâ announced
US$500 rate increases have had limited effect on rates, so far.
CHINA Cosco has issued a profit warning, saying it expects to post a
first half 2012 net loss that will be more than 50 per cent higher than
the CNY2.8 billion (US$439 million) loss it made in the first half of
JAPAN's "K" Line, the world's 15th biggest box carrier, narrowed its
quarterly net loss for the three months ending June 30 to JYN700 billion
(US$8.9 million) compared the JYN3.7 net loss it suffered last year -
while at the same time posting an operating profit of JYN4.1 billion
over last year's corresponding quarterly operating loss of JYN9.9
JAPAN's largest container carrier, Mitsui OSK Lines (MOL), has posted a
JPY5 billion (US$64 million) loss in the first quarter of fiscal year
2012 from April 1 to June 30, narrowing its JPY8 billion quarterly loss
A plunge in the price of ships as assets, caused by a collapse in global growth just after owners had placed record orders for new vessels, has no historical precedent, according to HSBC Shipping Services,the consulting and shipbroking unit of the bank.
THE proposed general rate increase (GRI) for August on the Asia-Europe trade appears to have had an impact as spot prices on the trade rose 3.4 per cent to US$1,728 per TEU, according to the Shanghai Containerised Freight Index (SCFI).
THE recent decrease in freight rates has been prompted by the reduction in fuel surcharges rather than a supply and demand imbalance, according to Copenhagen-based consultancy SeaIntel Maritime Analysis.
SINGAPORE-based Asian Shipowners' Forum (ASF) is urging the Panama Canal
Authority (APC) to withdraw its scheduled toll increases for this year
and next because they menace the future of the shipping industry and the