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WORLD AIR FREIGHT VOLUMES ARE UP

Dec 06 2016
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Airfreight volumes grew strongly year-on-year by 6.2 per cent in October driven by the Asia Pacific region. The month was up on the five per cent YOY growth in September, while yields also saw improvement. The driving force in October was Asia Pacific, in particular China and Taiwan, with YOY volume growth of 12 per cent and 19 per cent, respectively. This was accompanied by a month-over-month yield growth of 12 per cent and five per cent, respectively.

POSITIVE SIGNS FOR SHIPPING LINES

Dec 02 2016
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According to Drewry Maritime Financial Research, the container shipping industry’s response to lower demand and excess vessel supply and operational consolidation through bigger alliances were positive things to consider. It is expected that the industry pricing is on the cusp of a turnaround after years of neglect, the bottom of the freight market has been reached and the corner is being turned. Drewry said early indicators suggested contract rates for 2017 would increase from the depressed levels of 2016 and, on the Transpacific trade, this would likely mean the first contract rate increase since 2010.

HANJIN CONTAINERS REMOVAL DEADLINE ISSUED

Nov 17 2016
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Port of Singapore's PSA announced that cargo owners, consignees, shippers and/or freight forwarders will have until November 28 to contact the terminal operator in order to claim Hanjin Shipping's boxes and/or the cargoes inside. The port operator said there were a number of cargo-laden containers lying in its terminals and storage yards and it was looking to clear them out to maintain optimal port capacity. If there are still boxes remaining after the deadline, PSA will then proceed to dispose and/or sell off the containers and cargoes within. The port operator said it had been working with Hanjin and the relevant parties to ensure delivery of local import containers and load and transfer transhipment boxes headed for other locations.

CONTAINER RATES HOLD FIRM

Nov 10 2016
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Spot market prices on the Asia-Europe trade held firm in early November in the lead up to the winter slack season, with rate erosion minimal in comparison with previous post-GRI slumps, marking a positive indicator for lines currently locked in annual contract negotiations for next year. The latest Shanghai Containerised Freight Index estimated Asia-northern European spot rates, using Shanghai as a base origin port, at $915 per teu this week, representing a fall of 4.7% over the previous week, but they remain 26% higher than this time last year. Drewry’s composite World Container Index, covering actual rates traded for Shanghai-Rotterdam was up 19% on the back of the 1 November GRIs (general rate increases) to $1,696 per feu, a level some 67.7% higher than this time last year.

AIR CARGO RISE FOR SEPTEMBER

Nov 07 2016
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Air cargo shot up 6.1 per cent in September helped by unique factors such as the collapse of Hanjin marine shipping, the International Air Transport Association (IATA) says. Volumes grew at the fastest pace since the US West Coast seaports strike in February 2015, and that September was helped by new export orders, as well as unique factors including the rush to replace Samsung Galaxy Note 7s and the collapse of Hanjin marine shipping at the end of August. Load factors remain under pressure, at 43.7 per cent in September, but it was a year-on-year improvement of 0.6 percentage points. Africa saw the highest growth in September, at 12.7 per cent, followed by Europe at 12.6 per cent. Asia Pacific was up 5.5 per cent and North America grew 4.5 per cent. The Middle East saw its slowest growth since July 2009, up 1.2 per cent due to weaker conditions on Middle East – Asia and Middle East – North America routes. Latin America contracted 4.5 per cent with ‘within South Ameri ...

FLIGHTS TO CHINA DUE TO DOUBLE

Nov 01 2016
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The UK and China have agreed to allow unlimited cargo flights and more than double the number of passenger flights allowed to operate between the two countries, following successful negotiations. A restriction on the number of destinations that airlines can serve has also been lifted, meaning services can be operated between any point in the UK and any point in China. Up until now, airlines could only serve six destinations in each country. Under the new deal, passenger flights can now increase from the current maximum of 40 per week for each nation to up to 100. There will be no limit on the number of all-cargo services, creating new opportunities for UK trade and businesses. The move will also boost tourism and trade opportunities for the UK.

EU RULES FOR DRIVERS COULD CHANGE

Oct 19 2016
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Transport ministers from a number of European states have written to EU Transport commissioner to highlight their growing concerns over alleged violations of EU labour laws and illegal business practices within the road haulage sector, which they claim has led to unfair competition and ‘social dumping’.

BOX SHIP SCRAPPAGE UP

Oct 12 2016
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Container ship scrappage has reached record levels in 2016, already exceeding the previous record year with several months still to go, and more than three times higher than the historical trend of around 1% annually. It appears to mark an end in shipowner policy of holding off from scrapping vessels because of low steel prices.

HANJIN PROGRESS

Oct 10 2016
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Most of the containers on collapsed carrier Hanjin are expected to be offloaded by the end of October, according to South Korean government sources.The government has reiterated that Hanjin Shipping and its parent firm, Hanjin Group, are fully responsible for covering the costs of discharging the more than $14 billion in cargo from its vessels stuck at sea. But with all the measures taken so far, around 90% of Hanjin’s vessels should finish offloading their cargoes by the end of October, an official at the Ministry of Oceans and Fisheries advised. Hanjin has a total of 97 container vessels.

CONTAINER RATES ON THE MOVE

Sep 27 2016
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The recent boost to the Asia-Europe spot market in the immediate aftermath of the Hanjin collapse was always unlikely to continue, given market conditions, and the latest Shanghai Containerised Freight Index (SCFI) shows rates on the Asia-north Europe and Asia-Mediterranean trades falling by more than 20% to $764 per teu and $667 per teu respectively. But on the transpacific trade, where Hanjin had a bigger market share, carriers have taken full advantage of the sudden premium for slot space on the back of Hanjin’s vessels being pulled from service. Spot rates on routes from Asia to either coast of the US have rocketed since the start of the month and even a slight drop-off on the SCFI last week, where rates on the Asia-US east coast and Asia-US west coast trades fell 0.6% to $2,433 per feu and 0.9% to $1,726 per feu respectively, will do little to dampen the mood of carriers. At the start of the month, freight rates to the US west coast from Asia were as low as $1,153 ...

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