rates

European carriers still suffering, but transpac lines receive a ‘tariff’ boost

This week’s Shanghai Containerized Freight Index (SCFI) recorded further declines for Europe, but transpacific tradelanes rebounded as shippers struggled to digest the latest barrage of US/China trade tariffs.
The North Europe component of the SCFI fell another 4.5%, to $757 per teu, which is 19% below the level of the same week of last year.
And the more robust Mediterranean tradelane also suffered a spot market dip, of 7.6%, to $895 per …

The post European carriers still suffering, but...

https://theloadstar.com/european-carriers-still-suffering-but-transpac-lines-receive-a-tariff-boost/

Shippers raise rates from U.S. to Venezuela

Two major shipping lines this month have raised their rates for transporting goods from the United States to Venezuela, according to three industry sources and two documents, as U.S. sanctions limit transit between the two nations.

Washington on May 15 banned direct flights between the United States and Venezuela, citing safety concerns, as part of a broad package of sanctions meant to pressure Nicolas Maduro into resigning as president of the crisis-stricken country.

Citizens and social service...

https://container-news.com/shippers-raise-rates-us-venezuela/

Coast Guard increases Great Lakes pilots’ rates by 11%

Under the final rule effective June 10, per pilot hourly pay will range from $306 to $733 — depending on the district — up from $271 to $653 last year. Corps of Engineers photo

The Coast Guard has set Great Lakes pilots’ rates 11% higher than last year due to inflation, the addition of two working pilots and updated historic traffic data.

Under the final rule effective June 10, per pilot hourly pay will range from $306 to $733 — depending on the district — up from $271 to $653 last year. Total target pilot compensation rises to $359,887 from $352,485.

The rule affects 51 U.S. pilots, three associations as well as the owners and operators of about 256 vessels whose...

https://www.workboat.com/news/government/coast-guard-increases-great-lakes-pilots-rates-by-11/

Maersk announces rates increase

Maersk is announcing an increase in all contract rates expiring 1st June as set out below. The rate increase for the relevant trade for various commodities and container types is:

Far East Asia to Pacific West Coast (US & Canada)

Cargo Type 20DC 40DC 40High 45HDry Effective date

All cargo type

480 USD

600 USD

600 USD

750 USD

01st June 2019

Far East Asia to Pacific East Coast (US & Canada)

Cargo Type 20DC 40DC 40High 45HDry Effective date

All cargo type

480 USD

https://container-news.com/maersk-announces-rates-increase-2/

Why Did Oil Tanker Rates Just Double?

  • Recently, tanker demand and rates have highlighted shifting supply patterns and have sparked a bit of a worry about OPEC’s compliance rates.
  • What sparked the worry was a rebound in tanker rates from a low of US$15,000 per day earlier in February to double that last week.
  • It’s U.S. light crude, which is being pumped at ever-increasing rates.
  • A boom in demand for the crude is expected as a result of IMO2020..
  • According to a poll carried out earlier this month by Bloomberg, daily tanker rates...

http://mfame.guru/why-did-oil-tanker-rates-just-double/

Daily Overview of Global Markets & the SEE Region (Thursday, December 20, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS:The Federal Reserve raised the fed funds rate by a further 25bps to a range of 2.25%-2.50% at this week’s two-day meeting which concluded late yesterday, as expected. The forward guidance in the statement was slightly modified. The Fed reiterated that “further gradual increases in the federal funds rate” will be required noting thought that it is now its  “judgment” rather than its “expectation” that some further rate tightening will...

http://www.allaboutshipping.co.uk/2018/12/20/daily-overview-of-global-markets-the-see-region-thursday-december-20-2018/

Tankers carrying diesel stranded in Asia as rates increase

A number of tankers carrying diesel fuel are floating off Taiwan and Southeast Asia, due to the fact that a sudden fall in oil prices kept buyers at bay. This development led rates to their highest since January 2016. Tanker rates also were also benefited by strong Chinese oil exports.

As Reuters reports, about seven to nine tankers with about 5 to 7 million barrels of diesel are  floating off Taiwan waters, because of a reduction in bunker fuel demand from  South China Sea.

In fact, North Sea...

https://safety4sea.com/tankers-carrying-diesel-stranded-in-asia-as-rates-increase/

FedEx to raise its shipping rates

U.S. logistic giant FedEx said on Monday (Nov. 5) that it would raise its shipping rates on Jan. 7, 2019.

The Tennessee-based company said its subsidiaries, including the FedEx Express, FedEx Ground and FedEx Freight, will increase their shipping rates early next year.

FedEx Express shipping rates will increase by an average of 4.9 percent for U.S. domestic, export and import services. FedEx Ground and FedEx Home Delivery shipping rates will also increase by the same percentage.

FedEx Freight...

http://container-news.com/fedex-raise-shipping-rates/

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