Average east-west air freight prices in April increased 7.9% year on year to USD 2.86 per kilogramme, beating March and February's levels, and in line with an improvement in air freight traffic.
London transport research house Drewry, which compiled the data using a weighted average of buy rates across 21 trade lanes, warned there could be some fall back in May: "Led by higher rates out of Asia to North America, Drewry's East-West Airfreight Price Index increased by 1.7% month on month in April.
"The index is now about 8% above where it stood in the same month last year, reflective of strong demand seen in the sector. Drewry expects to see a seas...
Adani Ports and Special Economic Zone Limited (APSEZ) increased quarterly net profit 27% to INR 11.79 billion (USD 182.6 million), drawn on revenues of INR22.31 billion, up 18%year on year.
"Container volumes crossed 4 million Twenty Foot Equivalent Unit (TEU) for the first time at 4.24 million TEU, an increase of 27% year on year, surpassing all India container growth of 10%," it said of operations in Mundra.
APSEZ, 861 kilometres north of Mumbai, had posted a net profit of INR9.28 billion in the corresponding four quarter of FY16.
"Consolidated EBITDA increased 32% to INR16.38 billion in the fourth quarter of FY17," the company sai...
The Asia Australia Discussion Agreement (AADA) will implement a USD 300 per Twenty Foot Equivalent Unit (TEU) rate increase from July 1 on all cargo from mainland China and Hong Kong to ports in Australia.
The AADA said that this increase will apply in full on top of existing ongoing market rates and will be subject to accessorial surcharges applicable at the time of shipment.
AADA is a voluntary discussion forum of 12 ocean carriers including ANL Singapore, APL, Cosco, Evergreen, Hamburg Sud, Hyundai Merchant Marine, Maersk, MSC, OOCL, PIL, TS Lines and Yang Ming....
CMA CGM has announced the launch of a second Midas service connecting India, the Indian Ocean, the Middle East and southern and western Africa.
Africa Lines director manager Bertrand Simion said that "The duplication allows us to improve service offerings with competitive transit times and greater capacity as well as the access to new markets in South Africa and the Indian Ocean.”
He said that "The CMA CGM Group is betting on the economic dynamism of both India and the countries of Africa and intends to benefit from the economic growth of the two regions.”
After announcing an investment in the port of Mundra in India last month, CM...
CMA CGM has levied increases in freight rates from June 1 from Asia to ports in North Africa.
From that date rates from Asia to Algeria will be USD 1,900 per Twenty Foot Equivalent Unit (TEU), USD 3,600 per Forty-Foot Equivalent unit (FEU) and USD 3,675 per FEU high cube. (In this case, there will be a USD 50 per TEU port congestion surcharge at the Port of Bejaiia.)
From June 1 rates from Asia to Tunisia will be USD 1,650 per TEU, USD 3,100 per FEU and USD 3,175 per FEU high cube.
From that date, rates from Asia to Libya will be USD 1,600 per TEU, USD 3,000 per FEU and USD 3,075 per FEU high cube.
From that date, rates from Asia to Morocco w...
Yang Ming has chartered two vessels (YM Wind and YM Wreath), according to an official statement, which will be deployed in services operated by The Alliance.
The company said that the vessels will give it more strength in the competitive market.
Besides Yang Ming, The Alliance comprises Hapag-Lloyd, NYK, MOL and "K" Line....
Asia to northern Europe fell 3.9% to USD 924 per Twenty Foot Equivalent Unit (TEU) in the week ending Friday, according to the
Shanghai Containerised Freight Index (SCFI). Asia-Mediterranean trade dropped 3.7% to USD 914 per TEU.
Asia to the US west coast declined 8.5% week-over-week to USD 1,310 per FEU while those to the east coast off 5.5% to USD 2,298 per FEU....
CMA CGM will levy a general rate increase on cargo from Asia to the west coast of Latin America next month.
The rate increase willl apply from June 15 and come to USD 600 per Twenty Foot Equivalent Unit (TEU)....
Cosco Shipping Ports, formerly the group's terminal operator, Cosco Pacific, posted April volumes of portfolio wide, a year-on-year increase of 10%.
Even volumes from the previously struggling Bohai Rim region rose 2.7% to 2.87 million Twenty Foot Equivalent Unit (TEU) from 2.79 million TEU previously, while the Yangtze River Delta ports rose 4.1% to 1.64 million TEU from 1.58 million TEU in April last year.
The newly rising ports of the Southeast Coast saw volumes rise 5% to 382,600 TEU from 364,300 TEU and even the weak Pearl River Delta region saw an outstanding 7.1% rise in volume to 2.14 million TEU.
The sole port in the Southwest Coast cluster...
Global container traffic has grown by a better-than-expected 10% year-on-year in the first quarter (January-March) of 2017, according to trade lane data from Container Trades Statistics (CTS).
This has been mainly attributed by Drewry to a surge in intra-regional trade where there has been a nearly 17% comparable increase in throughput.
The growth in deep-sea traffic is estimated at 7% for the period....