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Largest cruise economy taking shape

PostTime:2018-12-10 10:51:17 View:14

Travel industry, public sector step up moves to boost marine-based tourism If a friend from abroad were to materialize suddenly in China as a tourist, the question "Gee, when did you land" will likely pop up from the presumption that he or she flew into the country. But, if some tourism firms' plans fructify, there might soon be an alternative question: "Hey, when did you make landfall?" More and more tourists are expected to reach China by cruise liners from now on. And, as wanderlust grips experience-hunting Chinese middle-class travelers flush with rising disposable incomes and bitten by the consumption upgrade bug, the domestic tourism industry is expected to see a rapid growth of cruises, market insiders said. According to the Cruise Lines International Association, by 2025, the number of Chinese travelers who will have experienced cruise trips is expected to grow to 8 to 10 million. That would mark a surge from about 2.5 million Chinese travelers, or less than 2 percent of China's outbound global travelers, who took cruise trips last year. An estimated 300 million Chinese consumers would be able to afford cruise trips in the near future. "In the next 10 to 20 years, the number of Chinese who take cruise trips annually is expected to surpass that of the United States. Growth in the world's cruise market is expected to come from China," said Zheng Weihang, executive vice-president and secretary-general of the China Cruise & Yacht Industry Association. "As the industry continues to grow and develop in the region, China is widely expected to eventually become the largest cruise market in the world." Small wonder, moves are afoot at both governmental and corporate levels to harness all that potential. Spanning modernization and upgrades of ports to home-built ships, purchase of ocean liners, multimodal transport mechanisms and longer duration visa-free visits to certain Chinese mainland areas in the neighborhood of ports, the big-ticket measures will seek to monetize multibillion-dollar opportunities. Michael Thamm, CEO of Costa Group and Carnival Asia, spoke after parent Carnival Corp, the world's largest leisure travel company, announced a 40:60 joint venture with China State Shipbuilding Corp or CSSC in November. "We are here in China not only to operate ships, but to build the whole ecosystem, including shipbuilding, supply chain, port development, distribution, and destinations. We would like to contribute to building a cruise economy in China, putting into full play the multiplier economic effect." Meanwhile, Shanghai plans to build the Wusongkou International Cruise Terminal, an integrated complex complete with duty-free shops comparable to those at its international airport. And the products sold at the port's boutiques and in nearby areas will be upgraded. The idea is to boost coordinated growth of leisure cruises and city tourism, according to the local government. The planned terminal will in itself be a potential tourist attraction, much better than the current port in Shanghai, where a solitary duty-free shop covers less than 500 square meters, and sells mainly cigarettes and liquor. For today's outbound and inbound cruise tourists, that wouldn't simply suffice. Shanghai's local government therefore said in a statement issued in October that the planned terminal will house large-size duty-free stores that would stock top-end goods. A campaign to spread awareness about China's various visa-free visit policies is also on the anvil. Unlike airline passengers, many foreign cruise travelers are not aware of China's 144-hour visa-free transit policy Largest cruise economy taking shape By Zhu Wenqian | China Daily | Updated: 2018-12-10 08:00 A cruise ship leaves Shanghai for South Korea. [Photo/Xinhua] International travelers from 53 countries can enter the Chinese mainland through the ports in Shanghai, Jiangsu province and Zhejiang province. Publicity for visa-free policies can attract more inbound foreign tourists to enter China by cruises, the Shanghai government said in its statement. South China's island province Hainan has also started a pilot run of its 15-day visa-free policy for tourist groups who take cruises and enter the country from ports in Hainan. The plans for upscale cruise liner terminals are shaped by the commercial success of duty-free shops at key airports like the Shanghai Pudong International Airport, fueled by a constantly growing number of international travelers with strong spending power. The airport said in its earnings report that income growth of non-aviation sector mainly comes from the growth of duty-free retail. Tourists spend not just on hotels, local travel, food and shopping at malls and other areas, but also at airports. China is the world's top outbound tourism market. According to the United Nations World Tourism Organization, the country's 142 million outbound travelers spent an estimated $258 billion traveling abroad last year. If they are encouraged to spend at home as well, and if more Chinese people are to travel, then new attractions like cruise trips and modern terminals at ports could prove a big draw. So, Shanghai will encourage cruise operators and third-party agencies to further develop the domestic cruise tourism markets. Efforts are underway to introduce linkages between cruises, airlines, trains and buses, to enable multimodal transport for travelers. In addition, the city will promote cruise tours at airports, train stations and other places with large passenger flows. At the corporate level, CSSC Carnival Cruise Shipping Ltd, the China-based joint-venture cruise liner, will operate its own fleet to serve Chinese guests by the end of 2019. It announced an agreement to purchase two existing ships from Carnival Corp's Costa Group, a major cruise operator in Europe and Asia. The first of these ships, the Costa Atlantica, is scheduled to be transferred to the new Chinese cruise line by the end of 2019. Currently, the Costa Atlantica mainly sails from southern China seaports like Shenzhen to Southeast Asian countries like Vietnam and the Philippines. The Costa Atlantica's sister ship, the Costa Mediterranea, will be transferred at a later date, according to the company. Besides, the joint venture signed a contract to order two new cruise ships, the first China-built large cruise fleet. The two new cruise ships will be constructed by Shanghai Waigaoqiao Shipbuilding Co Ltd, a State-owned shipyard in Shanghai. The first ship is expected to be delivered in 2023 to serve the Chinese cruise market. The agreement also gives the joint venture the option to order four additional China-built cruise ships to serve the growing demand of Chinese consumers. Thamm of Carnival Asia said: "As a large, dynamic and underpenetrated cruise market with continued long-term projections for outbound tourism growth, China represents a significant opportunity for the cruise industry to raise awareness, consideration and demand for cruise vacations in the coming years." But the cruise industry in China faces a significant hiring challenge in the face of growing demand. By 2020, the talent gap in the sector will reach 280,000, according to the Cruise Lines International Association. MSC Cruises, one of the major cruise lines with a dominant market share in Europe, South America and South Africa, entered the China market in 2010. The company said up to 2022, it needs 32,000 new crew members, including entry-level employees and mid-level managers. The company said it is actively looking for partnerships with educational institutions in China, and would like to build a global network of MSC training academies. It also said its crew members will be taught languages and be made eligible to serve in ships around the world, as per the company's staff rotation policy that covers its whole fleet.  

Chinese expertise boosts container terminals and logistics sector in Spain

PostTime:2018-12-10 10:47:58 View:12

VALENCIA, Spain-Looking out the windows of his office near the Port of Valencia, Spain, Sun Kai can clearly see the huge "arms" of bridge cranes stretching out into the sky. "Every day, while looking at those cranes, I see my company's business expand in concrete steps," said Sun, chief executive officer of Noatum Ports SLU. Headquartered in Valencia on the Mediterranean coast, the company operates container terminals in the Port of Valencia and the Port of Bilbao on the northern Atlantic coast, and railway terminals in Zaragoza and Madrid. Last November, COSCO Shipping Corporation Ltd, a Chinese shipping giant, acquired a majority stake in the Spanish company. The investment was accompanied by advanced management, know-how and global resources, energizing Spain's transport and logistics industry. "China has accumulated abundant management experience in running container terminals. After the acquisition, we've gradually introduced an advanced operation process and management into Noatum, and improved efficiency," said Sun. With the help of the Chinese management team, the company has established an operations department to increase efficiency at the ports and railway terminals. A new health, security and safety department has been set up to ensure the company meets the highest safety standards. It has also established a railway service unit to improve intermodal transport between Spain's coastal areas and hinterland, and is working on a project to upgrade the operating system of the two ports. From January to July, containers handled by the company reached 2.08 million twenty-foot equivalent units, with an annual increase of 13.2 percent. Sun said he expects the company to handle 3.7 million TEUs this year, up by over 12 percent from 2017. "We are in the best position now," said Elvira Gallego, general manager of Noatum Container Terminal Bilbao. "The current management is more efficient ... I think we have a good executive management team at the headquarters, and we have everything updated," she said. "COSCO is a huge investor, we now have COSCO's shipping lines that will help us to get bigger, and we have a big portion of the trade between Spain and China. I think it's the best moment," she said. The Port of Valencia is a main gateway to the Iberian Peninsula. It handled 4.83 million TEUs last year, making it the largest port in the Mediterranean region and the fifth-largest in Europe in terms of container traffic, according to port officials. "China is a strategic country for the Port of Valencia, given that 50 percent of foreign trade between Spain and China passes through it," said Francesc Sanchez, general director of the Port Authority of Valencia. More than 55 percent of Spain's gross domestic product comes from the area within a 350-km radius of the port, he said. The Belt and Road Initiative has boosted cultural exchange apart from goods exchange, he said. "It is an opportunity for both Chinese companies and the Spanish economy." "This important investment effort from China in Bilbao means a significant improvement in the efficiency of the logistics system as well as more shipping lines," said Ricardo Barkala, chairman of the Port Authority of Bilbao.

NRF: US Imports Reach 2 Mn Containers in a Single Month

PostTime:2018-12-10 10:41:11 View:12

Imports at the major retail container ports in the US have set another record reaching 2 million containers in a single month as retailers continued to bring merchandise into the country ahead of a now-postponed increase in tariffs on goods from China. According to the National Retail Federation and Hackett Associates’ report, the ports handled 2.04 million TEUs in October, the latest month for which after-the-fact numbers are available. That was up 9 percent from September and up 13.6 percent year-over-year. “President Trump has declared a temporary truce in the trade war, but these imports came in before that announcement was made,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “We hope that the temporary stand-down becomes permanent, but in the meantime there has been a rush to bring merchandise in before existing tariffs go up or new ones can be imposed.” The October number was the highest for a single month since Global Port Tracker began counting cargo in 2000, topping the previous record of 1.9 million TEU set in July, which in turn had beat a record of 1.83 million TEU set in August 2017. November was estimated at 2.01 million TEU, a 14 percent year-over-year increase that would have been a new record if not for the October number. December – normally a slow month with holiday merchandise already on the shelves – is forecast at 1.83 million TEU, up 6.1 percent year-over year. Those numbers would bring 2018 to a total of 21.8 million TEU, an increase of 6.5 percent over last year’s record 20.5 million TEU. “We see a significant slowdown in import growth in 2019 as the market adjusts to higher prices due to the Trump tariffs and the impact on consumer and industry confidence going forward,” Hackett Associates Founder Ben Hackett said. “We project that imports at our monitored ports will have grown significantly in 2018 but that there will be no import growth in the first half of 2019 compared with the same period in 2018.”

Diesel-loaded tankers stranded in Asia as buyers retreat; rates jump

PostTime:2018-12-10 10:28:52 View:12

Several tankers carrying diesel fuel are floating off Taiwan and Southeast Asian waters as a steep fall in oil prices kept buyers at bay, trade and shipping sources said on Friday, helping push rates to their highest since January 2016. With tanker rates also boosted by strong Chinese oil exports, it was a big relief for an industry that has been in the doldrums for the past three years. About seven to nine long-range tankers carrying about 5 to 7 million barrels of diesel are currently floating off Taiwan waters largely due to a drop in bunker fuel demand from the South China Sea, several trade and shipping sources said. “When flat prices started dropping rapidly, the buyers pulled back as they think prices have not bottomed out,” a Singapore-based middle distillates trader said. The two global oil benchmarks, North Sea Brent and U.S. crude, had their weakest month for more than 10 years in November, each losing more than 20 percent as global supply outstripped demand. Typically, the fourth quarter is peak demand season for middle distillates, a group of oil products including diesel used in agriculture, industrial and power sectors. “This year has been highly unusual and I think much of it has to do with the trade war impacting the Chinese economy and in turn diesel demand,” a North Asian trader said. “The traders storing diesel in vessels bought the cargoes earlier to sell to end-users but demand has not been as good as expected.” The Ocean Explorer, carrying nearly 110,000 tonnes of diesel, has been anchored at Kaohsiung Central anchorage since Nov. 26 while AG Neptune, carrying about 105,000 tonnes of gasoil, has been floating off Taiwan and more recently in Malaysian waters since mid-October, Refinitiv Eikon shipping data showed. Storage of clean oil products has also been filling up due to weak demand for gasoline, which is competing for tank space in onshore tanks, the North Asian trader said. ‘FEELS LIKE CHRISTMAS’ Storage of oil products on ships has pushed the rates for long-range 2 vessels on the benchmark Middle East Gulf to Japan route to about $30,000 a day, double what it was a week ago and the highest since January 2016, said Ralph Leszczynski, head of research at shipbroker Banchero Costa in Singapore. China’s increased exports of oil products after Beijing issued more export quotas for state refiners also helped lift tanker rates, a Singapore-based shipbroker said, declining to be named as he was not authorised to speak with media. “With the middle distillates arbitrage open from east to west recently, naphtha arbitrage open from the west to east, China exporting, fuel in storage, all the stars are aligned,” he said. “It feels like Christmas.”

S. Korean shipbuilders fare well on surge of LNG carrier orders

PostTime:2018-12-10 10:22:53 View:5

South Korea’s major shipyards have shown decent performances this year on the back of a surge in orders to build LNG carriers, industry data showed Sunday. For the year up to Thursday, 52 orders for LNG carriers were received by local entities, with Hyundai Heavy Industries Co. bagging the largest figure, or 25 orders, followed by 14 orders for Daewoo Shipbuilding and Marine Engineering Co. and 13 for Samsung Heavy Industries Co. This is nearly five times larger than the figure for last year, when they secured orders for a mere 11 LNG ships. The South Korean firms accounted for 86 percent of the total orders for LNG carriers in the world so far this year, according to the data from industry tracker Clarkson Research Institute. The remaining nine orders were obtained by firms from China, Singapore and Japan. Thanks to the increased orders, the three major players are forecast to achieve their yearly goals, according to experts. Hyundai secured orders for 146 ships this year, amounting to US$12.5 billion. It aimed to win $13.2 billion in orders in 2018. Daewoo reached around 83 percent of its yearly goal by securing $6.04 billion worth of orders, winning contacts to build 42 ships. Samsung received orders for 44 ships worth a combined $5.4 billon, though it has targeted $8.2 billion won in sales. “The global demand for LNG carriers is forecast to grow further for some time, thanks mainly to the proactive push for energy exports by the United States and China’s eco-friendly energy policy measures,” said Bae Se-jin, an expert at Hyundai Motor Securities.

China November iron ore imports fall on poor steel margins

PostTime:2018-12-10 10:18:18 View:3

China’s iron ore imports fell for a second month in November, customs data showed on Saturday, pulled down by waning restocking demand at steel mills as profit margins narrow. The world’s top steel producer brought in 86.25 million tonnes of iron ore last month, down 2.4 percent from 88.4 million tonnes in October and down 8.8 percent from 94.54 million tonnes a year earlier, data from the General Administration of Customs showed. For the first 11 months of 2018, China’s imports of the steelmaking ingredient reached 977.89 million tonnes, down slightly from 991.26 million tonnes in the same period the previous year. With plunging steel prices amid high output levels since late October, profit margins at steel mills have fallen to the lowest in years, forcing producers to rein in costs by using more low-grade iron ore and by reducing their input of scrap steel. “Steel mills and iron ore traders are tending to be cautious at this moment. They are only purchasing the amount of iron ore they need rather than hoarding a lot in warehouses,” Zhao Yu, an analyst at Huatai Futures, said before the data was released. Iron ore stockpiles at Chinese ports had fallen to a one-year low of 138.6 million tonnes as of Dec.7, while inventory at steel mills also dipped to its lowest since early October, data compiled by Mysteel consultancy showed. Zhao also expects some steel mills that have higher production costs to reduce output by arranging more maintenance until steel prices bounce back. Utilisation rates at steel mills across the country fell for a third straight week in Dec. 3-7, to 65.88 percent, Mysteel data showed. However, that was higher than the 62.02 percent in the same period last year. “We’re unlikely to see a big increase in iron ore demand in the coming months and even throughout next year… But we expect it will still be firm and stable,” said Zhao. Vessel-tracking and port data compiled by Refinitiv suggests China will only import about 66.42 million tonnes of seaborne iron ore in December.

China's Anhui province launches port and shipping group

PostTime:2018-12-10 08:49:24 View:5

China’s eastern province Anhui has set up a new Anhui Port & Shipping Group to promote local port and shipping business. Anhui Port & Shipping Group is 100% controlled by State-owned Assets Supervision and Administration Commission of Anhui Municipal Government. It will be engaged in port and shipping channel construction, port operation, sea and river transportation. At the inauguration ceremony, the newly-established company signed strategy cooperation agreements with China Cosco Shipping, Shanghai International Port Group, Ningbo Zhoushan Port Company and Shanghai Combined Ports Office to actively participate in Shanghai combined ports and Yangtze river delta port development. Currently, there are 16 ports, over 1,400 shipping and ports companies in Anhui. The province had approved and established Anhui Port Operation Group in November this year to consolidate its port resources.

Industry collaboration key to unlocking full advantages of technology in maritime

PostTime:2018-12-10 08:48:31 View:7

As with many other industries, key players in maritime are increasingly spurred on to accelerate innovation and adopt new technologies in a bid to stay ahead of the curve. Although the uptake of technologies and innovation has been relatively slow in the maritime industry due to the complex nature of traditional maritime operations, the industry has now evolved and is beginning to overhaul legacy systems to embrace modern approaches to shipping and port operations. The maritime industry in Singapore, in particular, has already seen rapid changes. Maritime leaders today are taking the lead in embracing innovation in various areas including automation, connectivity, simulation and analytics to not only increase efficiency and productivity, but also solve potential issues. For example, PSA Singapore, together with Maritime and Port Authority of Singapore, National Additive Manufacturing Innovation Cluster (NAMIC) and 3D MetalForge Pte Ltd, recently launched the world’s first commercial 3D printing facility, which utilises additive manufacturing technologies and is supported by blockchain technology, to enable the fabrication of spare parts for port equipment. The Sea Transport Industry Transformation Map was also launched earlier this year by the Maritime and Port Authority of Singapore (MPA) in partnership with the industry, unions and other government agencies. Aimed at developing Singapore into a next-generation port, the plan also seeks to catalyse innovation, drive productivity improvements, as well as enhance the skills of the maritime workforce. For PSA Singapore, the complex orchestration of activities within the port area is the bread and butter of our operations. Few key technological areas, namely Big Data and other collaborative platforms are crucial in helping the ports of Singapore stay prepared and competent while continuing to provide high-quality service levels to customers. Through data analytics, Big Data can help with understanding areas that need to be optimised as well as develop key capabilities. For instance, analysed data can be used to predict the arrival of vessels to anticipate the manpower required to support various operations, and the transportation required to deliver container movement. Engineers can also use the data to predict time-to-failure of system parts. This helps in either scheduling in advance the proper inspections needed to diagnose potential system failures or restoring certain equipment to its optimal state in the shortest time possible. Digital transformation for our next generation port was mapped out in our Container Port 4.0™ initiative. We are bringing on board emerging technologies for this vision of the intelligent port of the future. IoT devices are connected for sense-making and enable the application of AI and Machine Learning for higher productivity in our operations. Smart engineering involving predictive and prescriptive maintenance on automated container handling machines will also be applied to optimise component replacement intervals, just-in-time maintenance and more. With such technology-enabled processes, engineering staff carrying out maintenance and diagnostic tests will become more efficient and we can witness a rise in quality. This will help give a level of consistency and efficiency at ports that humans have been unable to achieve in the past. FREE DOWNLOAD - Maritime digitalisation in practice While we acknowledge limitations such as the inability to provide an acceptable level of productivity for overly complex and dynamic tasks, we also recognise that technology-enabled engineering allows for fleet-level orchestration, increased efficiencies in deploying resources, energy savings, as well as reducing fatigue and risk exposure for rank-and-file staff. In addition, PSA Singapore is already actively working on implementing automation into the workflow. Earlier this year, we launched a trial of a new Automated Quay Crane system at the Pasir Panjang Terminal that can boost productivity substantially, as well as introduce benefits of automation to bolster Singapore’s status as a port hub. Overcoming adoption hurdles While automation, or any other technological innovations, can benefit the industry by easing strenuous tasks and streamlining workflow, the industry faces adoption challenges when it comes to full-scale implementation. Challenges such as costs, safety, complexity, skills-matching and the lack of standardisation are some of the hurdles to an industry-wide adoption. To successfully utilise new technologies to transform the industry, it is imperative to have industry-wide collaboration for standardisation, proper human resource implementation, and public-private partnership. The importance of standardisation cannot be overlooked as using similar technologies and procedure can help with reducing the cost of adoption and increase success of implementation. Spare parts can be easily obtainable, keeping the equipment versatile and maintenance costs low. Similarly, professional proficiencies of operators and engineers can be developed easily, as skills are transferable to maintain and upgrade the systems with little variation. Upskilling the current workforce can also contribute to the success of implementation as well. By having a strategic skills competency roadmap based on the demands of emerging technologies in jobs, human resource teams can identify skill gaps within the organisation and plan for training and possible job redesigns, as well as a restructure if necessary, to facilitate the adoption of technologies within the current workflow. For example, PSA Singapore utilises remote guidance systems in the form of smart glasses which allow subject matter experts to guide staff remotely during complex troubleshooting scenarios. The use of such technology not only reduces time costs in training and onboarding current or new staff, but increases the efficiency rates of actual port operation performance. Engaging strategic partners such as the right technology solution and research and development (R&D) providers to find the right hardware for the job is also important. In addition, the continuous interaction with government agencies, as well as local institutes of higher learning, can help groom the next generation of professionals qualified to operate and continue the development of the implemented technologies. Read more: Singapore’s smart port initiative attracts more start-ups Gearing up for the next phase of maritime There is no doubt that technology, when used in the right manner, can strengthen the maritime industry. In gearing up for future challenges, it is imperative that maritime leaders come together to create standardisation in policies, protocols and collaborate on greater education and training initiatives. Efforts to do so can help reduce operational complexities and alleviate technology adoption pain points, which will enable the community-at-large to reap the full benefits of technology at the workplace. PSA Singapore is an exhibitor and sponsor of Sea Asia 2019, which will be held in Singapore at the Marina Bay Sands® from 9-11 April 2019. The region’s leading maritime conference and exhibition will be the anchor event during Singapore Maritime Week next year.  

OOCL to launches new Mideast/India-East Med service in January

PostTime:2018-12-10 08:46:23 View:5

ORIENT Overseas Container Line (OOCL) is launching a new Middle East / Indian Subcontinent - East Mediterranean (EM3) service next month to offer fast transit times to Egypt and Turkey. The new loop provides direct connections between ports in the Middle East, India, Sri Lanka, Egypt, Greece and Turkey.  The port rotation for the EM3 is: Hamad, Jubail, Jebel Ali, Mundra, Nhava Sheva, Colombo, Port Said West, Mersin, Piraeus, Istanbul, Mersin, Iskenderun, Jebel Ali, Abu Dhabi, returning to Hamad.  

US imports set new monthly record as shippers rush to beat tariffs

PostTime:2018-12-10 08:45:06 View:5

US IMPORTS through its major ports have set another record this year, reaching two million containers in October for the first time as retailers continued to bring merchandise into the country ahead of a now-postponed tariff increase on goods from China, according to the monthly Global Port Tracker. US ports covered by Global Port Tracker report, commissioned by the National Retail Federation, handled 2.04 million TEU in October, the latest month for which after-the-fact numbers are available - up nine per cent from September and 13.6 per cent year on year.  The October number was the highest for a single month since Global Port Tracker began counting cargo in 2000, topping the previous record of 1.9 million TEU set in July, which in turn had beat a record of 1.83 million TEU set in August 2017. November was estimated at 2.01 million TEU, a 14 per cent year-over-year increase that would have been a new record if not for the October number. December - normally a slow month with holiday merchandise already on the shelves - is forecast at 1.83 million TEU, up 6.1 per cent year on year. Those numbers would bring 2018 to a total of 21.8 million TEU, an increase of 6.5 per cent over last year's record 20.5 million TEU. Both year-on-year growth and total volume are expected to slow in January, when 10 per cent tariffs on $200 billion worth of Chinese products that took effect in September had been scheduled to increase to 25 per cent.  US President Donald Trump announced last weekend after a meeting with Chinese President Xi Jinping that the increase - and a threat to impose tariffs on all Chinese products - would be put on hold while the two countries conduct 90 days of negotiations. Official action to delay the tariff increase has yet to be announced, however.January 2019 is forecast at 1.72 million TEU, down 2.1 per cent from January 2018; February at 1.67 million TEU, down one per cent year on year; March at 1.57 million TEU, up 1.7 per cent, and April at 1.7 million TEU, up 3.7 per cent. "We see a significant slowdown in import growth in 2019 as the market adjusts to higher prices due to the Trump tariffs and the impact on consumer and industry confidence going forward," Hackett Associates Founder Ben Hackett said.  "We project that imports at our monitored ports will have grown significantly in 2018 but that there will be no import growth in the first half of 2019 compared with the same period in 2018." Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers the US ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma, New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville and Houston.

CMA CGM FAK rate increases from Asia to the Middle East Gulf

PostTime:2018-12-10 08:35:21 View:3

FRENCH shipping giant CMA CGM has announced a general rate increase from December 15 from all Asian ports to the Middle East on all cargo of US$200 per TEU. Called a "rate restoration", the increase will be applied on top of rates valid up to December 14.  Corresponding FAK rates level will be settled as follows: As from December 15, the CMA CGM FAK Tariff Guide Lines, excluding terminal handling charges, will be $900 per TEU and $1,500 per FEU from all China and South Korea base ports to Jebel Ali.

Asia-Europe rate rises 3.6pc to US$774/TEU, falls 7.3pc to USWC

PostTime:2018-12-10 08:34:15 View:4

SPOT rates for shipping containers from Asia to northern Europe in the week ending Friday increased 3.6 per cent to US$774 per TEU, according to the Shanghai Containerised Freight Index (SCFI). Asia-Mediterranean trade edged up 0.6 per cent to $788 per TEU, London's Loadstar reported. Asia to US west coast delined 7.3 per cent to $2,030 per FEU while those to the east coast fell 7.8 per cent to $3,136 per FEU.