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Rate pressure expected on Med trades as added capacity undermines demand
Tuesday, 07.Feb.2012, 23:37
CONTAINER shipping lines have been scrambling to add capacity through
the launch of new services on the Far East-Mediterranean trades despite
projected slack demand this year.
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Drewry: Carriers hit on-time high with Maersk, Hanjin and Cosco leading
Sunday, 05.Feb.2012, 22:17
CONTAINER service reliability reached a new high in the final quarter of
2011 with an on-time average of 69 per cent across all the trades
covered by the latest Drewry's Schedule Reliability Insight report.
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Hanjin Shipping increases Asia-Europe rates US$700/TEU from March 1
Friday, 03.Feb.2012, 01:32
SOUTH KOREA's Hanjin Shipping, also the world's ninth largest carrier,
has announced a rate restoration plan for various Asia-Europe services
from March 1, saying today's rates cannot cover operating costs.
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Cosco announces wide range of rate hikes and surcharges on main trades
Friday, 03.Feb.2012, 01:14
A general rate increase (GRI) will be applied to all westbound
Asia-Europe cargo including reefers from Far East including Japan to the
Indian subcontinent to north west Europe and the Mediterranean
including Israel, Lebanon, Syria, North Africa and Black Sea ports.
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MSC adds third of five 13,050-TEUers to Far East-north Europe Lion service
Thursday, 02.Feb.2012, 02:04
GENEVA's Mediterranean Shipping Company (MSC) has received the third in a
series of five ships ordered in October 2007 from the Daewoo
Shipbuilding & Marine Engineering (DSME) in Korea to be chartered on
its Far East-north Europe Lion service along with MSC Trieste delivered
December 2011.
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MOL, NYK and 'K' Line container losses exceed US$500 million Oct to Dec
Thursday, 02.Feb.2012, 01:53
JAPANESE big three carriers, MOL, NYK and "K" Line suffered common
losses of more than US$500 million from October to December or the third
quarter of their fiscal year 2011 ending March 31, 2012 due to low
demand, soft rates, appreciating yen, high oil prices and oversupply
problems.
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CMA CGM, CSCL and UASC mass their mega ships on joint Asia-Mideast loop
Thursday, 02.Feb.2012, 01:47
MAJOR container carriers, CMA CGM, CSCL and UASC, have announced the
re-arrangement of a joint CIMEX 1 Asia-Middle East service effective
February 2 deploying some of the biggest ships in the world.
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Maersk Line increases Asia-Europe rates US$775/TEU from February 15
Thursday, 02.Feb.2012, 01:37
MAERSK Line has announced it will increase Asia-Europe routes with a
US$775 per TEU effective March 1, which is more than double the current
spot market price.
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Despite troubles, CSAV plans expansion after US$129 million share sale
Sunday, 29.Jan.2012, 19:33
CHILEAN carrier CSAV has raised a further US$129 million in share sales to total US$788 million towards its $1.2 billion capitalisation.
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Maersk makes counter moves, adding and subtracting Asia-Europe capacity
Sunday, 29.Jan.2012, 19:30
MAERSK Line is to cut back capacity by 20 per cent on its Asia-Europe AE2 loop in March bringing its average capacity of 10,790 TEU to 8,612 TEU after adding a new service next month.
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