France has given Maersk Line until the end of the summer to pinpoint the location of around 500 containers which tumbled overboard from the Svendborg Maersk in international waters off the Atlantic coast in February this year.
None of the crew was injured during the incident and damage to the ship was minor.
A total of 517 boxes fell into the sea during a storm in the Bay of Biscay.
Stage set for FE-North Europe showdown
When the ‘Daily Maersk’ offer was launched in October 2011, it was touted as an unprecedented solution for Far East-Europe shippers, with daily sailings and delivery time guarantees on that route. Although Maersk continues to maintain the program three years after its launch, the impact of the ‘Daily Maersk’ has not met the expectations envisaged by its proponents. If it was one of the unstated goals of ‘Daily Maersk’ to outstrip competitors on the FE-North Europe trade,
Shipping consultants Drewry said the 1st April GRI is likely to have little effect in raising rates to sustainable levels.
“We anticipate freight rates on the Asia-Europe trade to remain highly volatile. Hence, the April GRI may lift rates in the short term but we expect these gains to erode thereafter,” Drewry’s director, research products, Martin Dixon, told Lloyd’s Loading List.com.
“Longer term, we expect rates to remain under pressure given that 2014 will see yet another year of excess capacity supply growth,
The Federal Maritime Commission has granted regulatory approval for a huge vessel-sharing agreement between the world’s top three container lines, but with stricter monitoring than is usual for a standard alliance.
The Washington agency concluded that the proposed alliance between Maersk, Mediterranean Shipping Co and CMA CGM would not be anti-competitive. The agreement becomes effective Monday.
The five commissioners voted four to one in support of the P3 Network, with only former chairman Richard Lidinsky dissenting.
Onshoring Reduces Air Cargo Volume
Passenger volume growth is outpacing air cargo, with a “big gap” emerging in the last three years as onshoring has stifled international trade volumes.
IATA chief economist Brian Pearce said that air cargo’s role as a lead indicator for passenger volumes has broken down since 2010, as witnessed by a dramatic divergence in revenues of US$20bn in 2013.
While airfreight has historically performed well at the peaks of economic growth and badly in the troughs,
Shipping Freight Southampton
The UK’s newest container berth, had its first call yesterday.
Hyundai Tenacity, the 13,082 teu (20 foot equivilant container) vessel was the first to visit the new 500 metre long, £100 million quay.
New Berth Ship Size
The new berth (SCT5) can handle the largest and deepest vessels in the world, including the new 18, 000 teu mega vessels. It has a depth alongside of 16 metres, and can be deepened to 17 metres to allow any future larger vessels.
Cathay has now unveiled plans to shrink from 25 freighters at the end of this year to 20 by 2016. No greater illustration is needed of the declining role of freighters in air cargo.
What makes the example of Cathay so interesting is that, with the possible exception of Gulf carriers like Emirates, surely no operator is better placed to profit from whatever air cargo growth might be available.
Air Freight Cargo Markey
Its base is the world’s largest air cargo hub – and on its doorstep is the world’s most important and dynamic air cargo market.
The $720 million Cathay Pacific Cargo Terminal at Hong Kong International Airport, which began operations in February last year and became fully operational in October, has been opened.
A wholly-owned subsidiary of Cathay Pacific Airways Limited, Cathay Pacific Services Limited (CPSL) held the grand opening on Monday 17 February.
Cathay Pacific Airways chief executive John Slosar managed the event, whilst the chief executive of the Hong Kong special administrative region the Honourable Leung Chun-ying was the guest of honour.
Accidental Shipping Losses
Analysis by specialist transport and logistics insurer TT Club has revealed that as many as two thirds of accidents that involve the loss of, or damage to, containerised cargo are thought to be caused by poor or improper packing and securing.
Such a finding is echoed by the ocean carriers’ Cargo Incident Notification System (CINS), where a third of incidents investigated were found to have this cause. The loss to the industry is substantial,
Hong Kong, which is on course to lose its status as the world’s third-busiest container port, handled 22.3m teu (20 foot equivilant shipping container) in 2013, 3.6% less than a year ago, according to government data, dipping 2% to 17.1m teu.
Hong Kong is set to be overtaken by neighbouring Shenzhen as the world’s third-largest container port, a status that it has held since 2007.
The former British colony was once the world’s top container port but was outrun by Singapore in 2005 and by Shanghai in 2007.