South Korea’s February crude oil imports fell 13.9% from a year earlier to 84.8 million barrels, preliminary data from the Ministry of Trade, Industry and Energy showed on Sunday. Final data will be released later this month by state-run Korea National Oil Corp (KNOC). Note: The ministry does not...
The Panama Canal Authority has announced new fees to protect the water environment and maintain services and reliability of the canal passage. Maersk says that, as a result of those fees being levied, it will introduce a Panama Canal surcharge (PCC) for all cargo transiting through the Panama Canal, effective from 1 April 2020.
The tariff levels are US$30 per container (both DRY and REEF) defined as follows:
TO/FROM Europe
Dry and Reefer: Chile, Peru, Ecuador, Colombia (only COBUN), Costa Rica...
https://container-news.com/maersk-implements-panama-canal-surcharge/
APL will apply the General Rate Increase (GRI) within the following scope:
Effective date: 15 March 2020
Origin: Asia
Destination: Mexico, West Coast South America, West Coast Central America, Panama
Quantum: US$1000 (for 20′, 40′, 40’HC and NOR)
The post APL applies new GRI from Asia appeared first...
The International Maritime Organization (IMO) implemented a ban on the carriage of non-compliant fuel oil for combustion purposes for propulsion or operation on board a ship – unless the ship has an approved exhaust gas cleaning system (“scrubber”) fitted, from 1 March.
This new measure does not allow vessels without exhaust cleaning scrubbers systems (EGCS) installed to carry bunker fuel with a sulphur content higher that 0.50%. Port Authorities now have the right to arrest ships found to be...
https://container-news.com/the-daily-mabux-bunker-index-2-march/
MSC Mediterranean Shipping Company S.A. has announced the following freight rates as from 1 April 2020 until further notice, but not beyond 30 April 2020.
All Prices are in US Dollars unless otherwise specified
The post MSC applies fresh rates from Europe appeared first on Container News.
https://container-news.com/msc-applies-fresh-rates-from-europe/
From a starting point of approximately 1.2 billion cubic feet per day (bcfd) of export capacity in 2016, the US will become the third most important liquid natural gas (LNG) exporting country with a total capacity of 8.9bcfd by the end of 2020, according to leading data and analytics company...
https://www.hellenicshippingnews.com/us-to-become-leading-lng-exporter-by-2025-says-globaldata/
Just like plumbing, the flow of trade has a network of routes that resemble pipes to move commodities, tankers, cargo and containers around the world. Unfortunately, the transpacific route, which was already impacted by the US trade war with China, is now facing another trade blocker–the coronavirus.
Fears of transmission have led to the cancellation of dozens of sailings and vessels transporting fewer loads around the world. The decrease in TEU being transported have resulted in a container...
https://container-news.com/billions-in-lost-trade-the-true-cost-of-the-coronavirus/
CMA CGM has announced peak season surcharge (PSS) rates as follows as from 15 March 2020 (date of loading in the origin ports) until further notice :
This PSS will apply as follows:
https://container-news.com/cma-cgm-applies-new-pss-from-north-europe/
Europe is considering doubling natural gas purchases from Azerbaijan to 20 billion cubic metres (bcm) per year, on expectations of new potential gas fields in the ex-Soviet country in the Caspian Sea, a senior EU official said. Azerbaijan plans to start gas deliveries to Europe this autumn from its...
Argentina’s surprise move to suspend export registrations Wednesday fueled market expectations of imminent tariff hike on soybean, soybean meal and soybean oil exports, with the industry expecting the move to benefit US soybean meal exports over soybeans. The US is an important competitor against...
