9/6/2015 The dry bulk shipping market will remain in recession due to contracting demand for iron ore and coal, and any recovery is not expected until 2017, according to the Dry Bulk Forecaster report published by global shipping consultancy Drewry.
Falling demand and oversupply has severely impacted commodity values, with iron ore and coal prices in virtual free fall.
Less than 60 bulkers were contracted in the first seven months of 2015, a drop of 91% YoY, and down from more than 1,200 in full year 2013. Combined with the firm pace of deliveries, this has led to a 20% decline in the bulkcarrier orderbook since the start of 2015..
1/18/13 Global containership capacity grew 6% to 16.3 TEU million in 2012
11/30/12 ASIA-EUROPE rates continued in decline last week to US$1,028 per TEU, down 4.7%, or $51 per TEU WoW, representing the lowest point reached since March, according to the Shanghai Containerised Freight Index (SCFI).
3/16/12 BIMCO forecasts 20 million DWT of dry bulk to be recycled during 2012
2/12/2012 Barrons: Baltic Dry: Not Washed Up -- News that the Baltic Dry Index is sunk as an economic indicator is much exaggerated.
The index—which measures the cost to haul dry freight over the world's oceans—has merely run aground after getting hit with a shipping-market tsunami. Don't worry. It will right itself soon enough–and should once again become a useful forecasting tool, as early as the end of the year.
The cost of shipping dry commodities, such as coal, iron ore and grains, forms the basis for the BDI. When more raw materials are shipped, it is because they are needed to be made into ...
12/9/2011 Capesize rates rose to 21-month highs on Chinese iron ore demand that is estimated to grow 20% by 2015
11/6/2011 Will They Never Learn? True, the container lines are taking delivery of big new ships and ordering even more of them, but they have to because of the ever-rising cost of bunker fuel. The technology of the engines on new ships is changing so quickly that carriers are forced to buy new ships in order to have any hopes of operating profitably at any point on the future.
If they don’t order new ships and hang on to their older ships, which burn fuel at a much higher rate, they won’t be able to compete with carriers that deploy the newer, more efficient ships that are coming to market in the next few years.
9/18/11 A new analysis from shipbrokers Gibson showed this week that just 223 single hull tankers of over 25,000 dwt remain in the fleet, representing about 5% of the total tanker population.
9/8/11 The Cass Freight Index for U.S. shipments grew 4.4 percent in August over the same month a year ago, the smallest gain in a year-and-a-half and a sign of fragile demand in the American economy.
Bulk freight shipments on major North American railroads rose 1.4 percent last week to the highest level since April 2, with gains across a wide range of cargoes.
8/2/11 The Institute of Energy Economics for Japan (IEEJ) reported that alternative energy imports (Coal ?) would rise significantly if local authorities kept reactors shut after routine maintenance due to safety concerns after Fukushima.
5/26/11 Malaysian Bulker Carrier (MBC) is anticipating the dry bulk market to recover over the medium-term with an increase in coal imports by Japan
4/5/11 Global ocean container traffic reached an all-time high of 560 million 20-foot equivalent units in 2010, driven by surging volume at Chinese ports, according to Alphaliner.
2/29/11 Bloomberg: The cost of shipping liquefied natural gas may advance 67 percent to a five-year high as Japan replaces its crippled nuclear industry with power plants burning fossil fuels
2/28/11 All Japanese ports affected by the devastating earthquake and tsunami that hit the northeastern part of the country on March 11 have now reopened, according to the Ministry of Land, Infrastructure, Transport and Tourism.
1/10/11(Bloomberg)Freight Rates Tumbling as 35-Mile Line of Ships Sails Even at an average of $22,000, ship owners should be able to make money, with average daily expenses last year of about $15,000 for costs including crew and depreciation, Clarkson estimates. While the figure doesn’t include payments on loans, interest rates for many companies have dropped since the Federal Reserve cut its benchmark interest rate to near zero in December 2008 and kept it there since.
12/7/10 The American shipping community - and its customers - praised the US and South Korean governments for reaching consensus on a new free trade deal, and said they look forward to enjoying its benefits once ratified.
11/8/10 (Hellenic Shipping) Asian coal import demand is expected to be improved with the Asian winter season being a cold one. Adding to this positive expectation some port congestion may be experienced in Australian and Indonesian ports as many forward fixtures for thermal coal have been recorded during the past weeks, and all these fixtures can’t be accommodated without delays. This congestion might well be the extra boost we all want and hope for the dry cargo market” says Cotzias.
9/13/10 Container volume through Hong Kong rose 9.7 percent in July after growing by double digits in each of the year's first six months, the Hong Kong Port Development Council reported.
The Indian Shipping Ministry said it plans to augment the country's overall port capacity from the current 1 billion tons to 3.5 billion tons over the next 10 years
8/27/10 U.S. Truck tonnage continued its string of YoY gains, rising 7.4% in July from last year, the eighth straight increase, American Trucking Associations said.
8/20/10 Brokers said 15 ships were chartered to export mainly grains cargoes from the U.S. Gulf in recent days, rising from a four-week average of seven vessels.
Brokers said that capesize ship chartering activity had been driven by Chinese iron ore imports from Australia and Brazil after Karnataka, India's second-largest ore producing state, banned exports from 10 of its ports last month.
7/25/10 China's port box volumes up 7.3 - 13.9% in first half of 2010
7/14/10 (Economist) FOR most of the past two decades the main measure of shipping costs has been used as a guide to what is happening to world trade. So the fact that the Baltic Dry Index—which measures the rates charged for chartering the giant ships that carry coal, iron ore and grain—has fallen by almost 60% in its longest streak of consecutive declines for nine years (34 days running as of July 14th) has won attention.
7/13/10 Ports in China posted a 19% growth in throughput to 3.18 billion tonnes in the first five months. The container freight volume increased 22.5% to 56.3 million TEU.
7/7/10 (DJ) Depressed iron ore demand from Chinese steel mills has been pressuring shipping rates over the last month, with iron ore a key ingredient in steel production and the main product in dry bulk shipping. Chinese spot iron ore prices are near $US125 per tonne, a steep discount to the all-in cost of having it shipped from Australia, which is at $US155 per tonne.
7/1/10 (Bloomberg) -- Commodity shipping costs measured by the Baltic Dry Index extended their longest losing streak in almost five years on a surplus of ships for hire.
6/18/10 Maersk, the world's biggest container shipping group, is warning of an unprecedented shortage of containers in the run-up to the peak shipping season on the back of a strong rebound in global trade.
6/10/10 Container traffic at major ports in India for the April-May period increased by 21 % YoY.
4/9/10 Oppenheimer analyst Scott Burk said the very large crude carrier day rate was about $59,000 Friday, up from about $20,000 to $30,000 a few weeks ago.
3/24/10 The Department of Transportation’s second-highest official told senators that DOT’s preference for freight shipping is keep goods on waterways and rail as much as possible, getting them away from trucks except for the final delivery
3/24/10 Figures from Hong Kong Airport Authority showed that cargo volume rose 30% YoY in February to 257,000 tonnes.
Air cargo demand is rocketing in response to global economic recovery, says Lufthansa Cargo CEO Carsten Spohr.
3/3/10 YoY container volumes on the transpacific eastbound trade from Asia to the US fell by 15.3% in 2009 to 10.1 million TEU
3/2/10 Shanghai, the world's second largest container port after Singapore, experienced a throughput increase of 18% to 2.24 million TEU in January, reported Xinhua.
2/22/10 The London Metal Exchange has approached the Baltic Exchange to develop an electronic exchange for freight derivatives.
1/12/10 (Reuters) Dry bulk ship owners are insisting vessels go via the Cape of Good Hope on voyages from South Africa to Mediterranean ports to avoid pirates in the Gulf of Aden - adding 10 days to shipping times. Utilities in Italy, Greece and Israel which use coal shipped from Indonesia and South Africa are having to pay higher shipping costs for the longer voyages, utility sources said. Around 60 percent of South Africa's 60 million tonnes a year of coal exports goes to Europe.
1/5/10 The coal price at Qinghuangdao Port rose for four consecutive months, and set a new record high over the past year, meanwhile, coal inventory fell 29.4% from early December, approaching the alarm point of 5 mln tons again. (Beijing faced the coldest weather in half a century)
1/4/10 Maersk hired a warship to protec the Brigit Maersk tanker from pirates.
But, new building cancellations will reach about 40% of the total orderbook sayd NBG, which means that 100 million dwt will never reach the water. This, coupled with an estimated 70 million dwt of scrapping of older tonnage, could allow for a gradual recovery of dry bulk usage, close to the ten year average of 87% of available hiring days. Should this scenario materialize, dry bulk rates will drop below 2,000 points during 2010 and recover higher than 3,000 points during 2011, which could be deemed as very satisfactory, should one consider the current imbalance in the market.
8/27/09 Shipping Co’s hiking rates:
Unired Arab Shipping Company announced it is increasing rates from the Far East to Arabian Gulf and Indian subcontinent ports.
Emirates shipping line has announced rate increases on cargo moving between Far East to the Middle East.
Maersk hikes rates on full range of intra-America trades. Hapag-Lloyd hikes rates on wide range of secondary trades.
Mitsui OSK Line is implementing a general rate increase on its Europe-South Africa trade.
8/11/09 More than 62% of ships on order today are bigger than 4,000 TEU, and only 11% are under that size at a time when smaller ships will be the first to benefit from recovery, according to Paris-based Alphaliner.
8/10/09 (SSY News) Latest information from China’s iron ore ports indicate that a total of 47 Capesize vessels are waiting to berth compared with a peak of 88 in mid-June.
7/29/09 Container throughput at China ports fell 10.9% in the first half of 09.
Shanghai’s foreign trade value fell 15.1% YoY but rose 13% MoM
7/16/09 Imports at the leading container ports increased 5% MoM compared with April, but were down 20% YoY.
7/6/09 Moody's Investors Service has downgraded American ports from "stable" to "negative" as the downturn reduces consumer demand and cargo volumes.
5/19/09 China Shipping Container Lines rose 5.6% as Goldman Sachs said it was turning more positive on the transportation industry.
China’s imports of iron ore, used in steelmaking, jumped 33% in April, setting a record for a third month, the customs office said.
5/18/09 Baltic Dry Index Up 11 Days in a Row: Should You Care? The Baltic Dry Index is currently riding an eleven-day winning streak during which the index has gained 43%. Year to date, the index is now up 228%. Given that it is a measure of shipping rates, the increase in the Baltic Dry Index is regarded by many as an important indicator of an improving global economy. How this translates to the stock market, however, is unclear.
5/9/2009 The Port of Shanghai’s foreign trade value fell 25% YoY, but rose 34% February to March.
4/16/09 The number of idle containerships worldwide has fallen from 1.42 million to 1.31 million TEU the first drop since September.
“We expect industry fundamentals [for bulk carriers] to deteriorate further as demand continues to remain weak and the large order book begins to be delivered,” wrote Nomura’s Andrew Lee in a note to clients. On container shipping, the outlook is similarly miserable: “International routes are loss-making and are likely to remain so,” he said.
3/4/2009 The number of containerships sitting idle worldwide is said to have soared to an historic high of 453 ships, that is 1.35 million TEU or 10.7 per cent of the world's box tonnage, AXS-Alphaliner News reports.
2/5/09 BHP Billiton said build-up of iron ore stockpiles in China that prompted suppliers to defer shipments last year is ending – causing ore shipments to rise, one broker said.
1/21/09 The level of idle containerships has risen to 255 -- 5.5% of the global fleet, a historic high.
1/13/09 Shipping rates hit zero as trade sinks Freight rates for containers shipped from Asia to Europe have fallen to zero for the first time since records began, underscoring the dramatic collapse in trade since the world economy buckled in October.
"Should China Iron and Steel Association successfully achieve an early reduction in contracted iron ore prices, the dry bulk market could experience a revival as iron ore shipments to more profitable steel mills resume", Nokta said in a report published on Friday
11/25/08 Ports in China registered a 6% per YoY volume growth in October.
"All the issues that will help the recovery are probably coming faster than people expect," Mr Soanes said.
10/24/08 The port of Rotterdam announced that throughput during the first nine months of the year rose by 6.1% YoY. Most types of cargo showed a positive trend, with agribulk up 26% YoY, liquid bulk up 16%, ores and scrap up 11%, coal up 9%, crude oil up 7%, containers up 6%.
9/25/08 YoY, Global Insight anticipates inbound cargo volumes at US ports will be down 6%.
9/22/08 Cargo volume at major US retail container ports is expected to fall 6% in 2008 compared with 2007 on the back of the global economic slowdown, according to the monthly Port Tracker report.
Clarkson, the London shipbroker, says world containership orders fell 49% so far this year as charter rates slump, freight rates come under pressure and growth volumes shrink on major trade lanes.
9/12/08 INTERFAX-CHINA - Lower iron ore demand from China is a major factor behind the sliding Baltic Dry Index (BDI), a measure of the freight rates of raw materials, which plunged from above 10,000 points five months ago to around 5,000 points on Sept. 9, industry analysts told Interfax on Sept. 10.
Asia - Europe volumes continue to rise according to Far Eastern Freight Conference statistics, which record a 3.2% YoY westbound container throughput increase in July, and a 7.5% jump to 5.75 million TEU in the first seven months.
8/15/08 Hong Kong’s port handled 2.19 million TEU in July, an increase of 4.7%.
Singapore reported an 11.6% increase in container movement in July.
8/5/08 A national container fee may be the most equitable means available to raise the billions of dollars needed to build freight infrastructure, a congressional hearing is told.
7/3/08 China Customs data show that during the first five months of this year, China's foreign trade value rose 26.2% over the same period last year to US$1.01 trillion. India was the fastest growing among its trading partners. Trade with India rose 70.3% to $24.2 billion, making it Chinas eighth largest trading partner.
4/23/08 Port of Shanghai's March container throughput rose 17.9% to a new monthly record of 2.39 million TEU, Logistics Week reported.
4/22/08 Queues at the Panama Canal are becoming longer. About 90 ships are waiting to get through the Canal, doubling transit times to a record 53 hours from the usual 27 to 30 hours.
4/2/08 Weak dollar boosts Long Beach (CA) exports 36%, but cuts imports 7.6% in February.
2/4/08 China is building an enormous logistics facility covering nearly 70 hectares for the newly-launched Sino-Germany Container Railway. It is predicted that the volume of Germany-bound boxes on this railway will reach 20,000 to 26,000 TEU by 2010 while Beijing-bound boxes will be about 10,000 TEU.
1/11/08 Baltic dry sea freight index makes record fall Dry commodities trading analysts have so far attributed the steep pullback from the all-time high hit last November to a correction at the top of a white-hot market and an expected seasonal downturn in shipments in the first quarter.
12/19/07 Shangyu port is planning new terminals with total annual capacity of 10 million tons. Capacity of the new port will be 40 times larger than the present Shangyu facility, which can accommodate 3,000-tonne vessels and handle 245,000 tons of cargo a year, Xinhua reported.
12/11/07 Rongcheng’s cargo volume for foreign trade grew 78% YoY
12/6/07 YoY Oct. traffic at major US container ports fell 3.5%.
One of the biggest operators in the booming dry bulk shipping market has warned that conditions where charter rates for ships have nearly tripled in a year, were “insane” and “unsustainable”.
9/4/07 Panama begins canal expansion: The $5.25-billion expansion will accommodate a new class of huge ships capable of carrying more than twice the number of containers as the vessels that currently transit the waterway. Completion is set for 2014 to coincide with the 100th anniversary of the inauguration of the original canal.
6/26/07 Shares of COSCO, Asia's largest container line, as much as doubled Tuesday on their Shanghai trading debut.
5/25/07 YoY goods shipped by truck in the U.S. fell by 2.7 percent in April.
Container volumes on the Asia — Europe trade rose 20% in the first four months of the year.
5/22/07 The handling capacity of China's ports is expected to hit 8 billion tons and 170 million TEUs (twenty-foot container equivalent units) in 2010. The cargo handling capacity of all China's ports totaled 5.6 billion tons and 93 million TEUs in 2006.
4/30/07 China Shipbuilders, Rivaling U.S. in WWII, to Cut Freight Costs April 30 (Bloomberg) -- The cost of shipping coal and iron- ore is about to decline as the supply of cargo vessels overwhelms demand. Japan, China and South Korea will produce so many vessels that shipping costs, now at an all-time high, will fall 40 percent by 2010, according to futures contracts traded privately between banks, transportation companies and hedge funds.
1/16/07 YoY November air cargo shipments rose 2.9% , the Air Transport Association said.
12/28/06 American Trucking Associations’ seasonally adjusted truck tonnage index dropped 3.6% in November, following its 1.9% drop in October.
12/12/06 The number of trucks in use in the U.S. is down 0.6% in the third quarter, a sign expanding hauling capacity by carriers may have peaked.
8/22/06 Hong Kong's port transshipment cargo recorded an average annual growth rate of 12% from 2000 to 2005, the Census & Statistics Department says.
8/15/06 China's ports post 22 % growth According to a Xinhua report, during first half of 2006, China's major sea and river ports together handled over 42 million TEUs posting a growth of more than 22 percent.
6/23/06 Panama's Congress will debate next week whether to push ahead with an ambitious and costly plan to expand its canal.
4/3/06 The tiny biodiesel industry received a boost from Big Oil on Monday when a major petroleum refiner, Motiva Enterprises LLC, began blending the soy-based alternative with traditional motor fuel at a Dallas terminal
2/17/06 Class 8 truck orders in North America are off to a roaring start in 2006, with January’s total reaching an all-time monthly high of 43,100 units.
2/15/06 Overall air cargo shipments rose 1.3% in December from a year earlier, but domestic shipments dipped, the Air Transport Association reported.
The cost of shipping commodities such as iron ore and coal fell to its lowest in more than five months because of a buildup of vessels available for hire in the Pacific and Atlantic Oceans.
12/27/05 Overall for-hire trucking freight volumes surged 1.9% in November from a month earlier, American Trucking Associations said Tuesday.
12/20/05 The average retail prices of diesel and gasoline each rose for a second straight week by 2.6 cents, with diesel climbing to $2.462 and gasoline to $2.211 a gallon, the Department of Energy reported.
U.S. Sales of Class 8 trucks jumped 16.6% in November as truck buyers took delivery in a market where freight rates remained strong and truck production showed no signs of letting up, manufacturers said.
11/30/05 Overall for-hire trucking freight volumes rose 0.3% in October from a month earlier, the American Trucking Associations said.
Justifying the move, the ‘notice to trade” points out that all member lines are facing considerable increases in charter rates that continue rising dramatically. It also attributes the hike to a worldwide shortage of container equipment.
11/20/05 Global shipping: Challenges ahead As on January 1, 2005, the world trading fleet was made up of 46,222 ships, with a combined 597,709,000 gross tonnes. The vast bulk of the fleet was made up of: general cargo ships (18,150), tankers (11,356), bulk carriers (6,139), passenger ships (5,679) and container ships (3,165). Other ship types accounted for 1,733 vessels.
11/18/05 The United States and the European Union reached a tentative deal on Friday expand aviation service and boost competition on both sides of the Atlantic
11/15/05 The average U.S. retail price of diesel fuel fell for a third straight week, dropping 9.6 cents to $2.602 a gallon, the Department of Energy.
The Panama Canal Authority’s largest customers are forecasting a 12% increase in traffic between Asia and the US east coast in 2006 as trade between the US and China shows no sign of slowing.
10/28/05 Surface trade amid the United States, Canada and Mexico rose 12.3% in August from a year earlier to a total of $60.2 billion, the highest monthly level ever recorded, the Department of Transportation reported Thursday.
10/27/05 U.S. monthly retail sales of Class 8 trucks rose by 16.3% over last September’s level to 21,677 units, YoY the 23rd straight monthly increase.
10/13/05 A Crisis could be threatening for world shipbuilders investment banker Morgan Stanley warned that overcapacity in the industry could be as much as 30% by 2008.
10/06/05 Domestic air cargo shipments rebounded from a 5% drop in July to climb 0.6% in August in year-over-year comparisons, the Air Transport Association reported Thursday.
09/13/05 The cost of shipping commodities such as iron ore, coal and crude oil is poised to rise through the rest of this year as Chinese steel mills and refineries increase imports, according to shipbroker Lorentzen & Stemoco said, Bloomberg reports .
09/12/05 The container throughput of the Shanghai Port increased by 27 percent year-on-year
08/30/05 Surface trade among the U.S., Canada and Mexico rose 7.2% in June to $59.4 billion from a year earlier, the Department of Transportation reported.
08/29/05 With the peak shipping season in full force, intermodal container traffic for the week ended Aug. 20 was the highest week ever on record, the Association of American Railroads said.
08/16/05 Port of Long Beach: Junes Asian imports at the second-largest port in the U.S. pushed overall volume to 576,604 TEUs from 494,098 TEUs a year earlier, according to the port's preliminary data.
08/01/05 Ocean freight continued weak, taking gulf to Japan back to $34 a ton, which is the lowest rate in almost 30 months.
07/26/05 The average retail price of diesel fuel fell for a second straight week, dropping 5 cents to $2.342 a gallon, the Department of Energy said Monday.
07/26/05 U.S. sales of Class 8 trucks jumped 38.2% in June from year-ago levels, and reached their highest monthly total since December 1999, as fleets’ buying spree continued.
06/22/05 The long-haul, heavy-duty truck transportation industry in the United States is experiencing a national shortage of 20,000 truck drivers, the American Trucking Associations reported
06/22/05 COSCO, China's biggest shipping conglomerate has found hesitant interest by retail investors in its $1.65 billion IPO on worries that the global shipping boom has peaked.
06/20/05 he Singapore Exchange has confirmed plans to develop a clearing house for freight and energy derivatives as the country looks to capture more of the growing Asian market.
06/20/05 US rail carloads totaling 332,491 units decreased 2.2 percent the week of June compared to the same week in 2004.
06/20/05 Despite ongoing demand running ahead of capacity faltering Charter rates and new ship prices could be a sign that the three-year rally in box shipping is leveling off.
06/08/05 Cruise Lines International Association (CLIA) carried 2.63 million worldwide guests in the first quarter of 2005, an 8.9 percent increase over the same period in 2004. North American passengers grew by 12.9 percent during the quarter to 2.34 million guests, up from 2.10 million first-quarter guests one year ago.
06/08/05 Shares of a handful of major truckload firms fell Wednesday after analysts from the firm Bear Stearns & Co. lowered ratings on several trucking stocks, citing a slowing business environment, falling demand and higher costs, the Associated Press reported.
06/07/05 Total air cargo shipments rose 0.3% in April compared with a year earlier, following a 3.1% year-over-year drop in March, the Air Transport Association reported.
06/01/05 Growth in the world’s tanker fleets is outstripping demand, forcing charter rates down to new lows and putting pressure on shipping company share prices – Lloyd’s List reports.
05/26/05 YoY New York Customs District saw overall air-cargo tonnage increase 1.67 percent in March.
05/12/05 Bullish outlook for FedEx ..FedEx reiterated that it expects profit to range between $1.40 per share to $1.50 per share for the fiscal fourth quarter ending May 31.
05/09/05 Amid rising gas prices, makers warm to diesel cars Diesels use 20 percent to 40 percent less fuel than comparable gasoline engines. And diesel fuel coming to market starting this year will have lower sulfur content, reducing emissions dramatically.
05/09/05 Total air cargo shipments rose 3.1% in March compared with a year earlier, following a 1.3% year-over-year drop in February, the Air Transport Association reported.
05/05/05 The tanker market is likely to be the first shipping sector to suffer an oversupply of tonnage, leading to earnings declines for the next three years, Citigroup Smith Barney tanker analyst John Kartsonas has warned.
05/05/05 International trade through the Los Angeles region will grow by more than 14% this year to a record $302.1 billion, according to an economic study released Wednesday, the Associated Press reported.
05/04/05 Transport costs between Richards Bay, which has the world's largest coal export terminal, and Rotterdam dropped 7.2 percent last week to $18.62 (R114) a ton.
04/27/05 Overall trucking freight volumes fell 3.3% on a seasonally adjusted basis to 111.6 in March, according to an American Trucking Associations index released Wednesday.
04/26/05 Rates for very large crude carriers have peaked and are unlikely to match the euphoric highs seen last year, says Helmut Sohmen, owner of World-Wide Shipping.
04/26/05 China has announced further container terminal expansion by giving the go-ahead for a 2.5m teu facility at Shenzhen, the world’s fourth largest box port city.
04/22/05 During week of April 16th Tonnage Volume for US railroads reached 33.3 billion ton-miles, up 4.7 percent from the same week in 2004.
04/22/05 Earnings for Suezmax tankers in November reached a record of more than US$150,000 a day as global oil consumption grew faster than ship supply.
04/13/05 Overall trucking freight volumes fell 2.4% on a seasonally adjusted basis to 115.5 in February, according to an updated American Trucking Associations index released Tuesday.
04/08/05 Shipping industry faces shortages The problem now is that shipowners will have to wait until 2008 to get any delivered with the South Korean shipyards already full with orders
03/04/05 U.S. wholesale prices for heavy motor trucks jumped 1.6% in January, marking their largest monthly increase in more than five years, as equipment makers continued to pass along higher costs for raw materials, including steel, aluminum, wood and rubber
03/03/05 The Panama Canal is nearing full capacity and should seriously consider expansion to continue to be a major player in world trade, experts and users said.
03/02/05 India hikes rail freight to curb iron-ore exports China sourced more than 5 million tonnes of ore from India in January, a 46 percent increase on last year. India is China's second largest exporter of ore after Australia, according to official custom's figures.
ATA Truck Tonnage Index Surged to Record High in January.“January proved to be a strong month for truck tonnage” said ATA Chief Economist Bob Costello. “Growing manufacturing production continues to be the driver of truck freight. And, we have seen big gains in heavy commodity movements, like steel, which is another reason why tonnage is growing at a solid pace.” he said.
02/24/05 From the JoC comes news that there is no let-up for West Coast ports. January began the year the way 2004 ended: with double-digit growth in containerized imports from Asia.
02/17/05 THE government of Panama has approved a new charging structure for containerships and has given the go ahead for big increases in charge, to be phased in on over three years, despite strong opposition from owners.
02/16/05 HUTCHISON Whampoa Ltd, Cosco Pacific Ltd and other operators of Hong Kong's port handled 7.8 per cent more containers in January as shipments of Chinese-made goods to US, Europe and Japan increased.
02/16/05 THE price paid for ships to be scrapped for steel rose 5 per cent to a record last week in Bangladesh, the world's largest ship-breaking market, as buyers competed for oil tankers to wreck.
02/08/05 The national average price of diesel fuel fell 0.9 cent to $1.983 a gallon, the US Department of Energy said Monday.
01/26/05 Liang Hong, an economist with Goldman Sachs in Hong Kong, said that the government had expanded the capacity of many ports by 30 percent to 60 percent within months, a task that would take years in practically any other country. China also increased electrical output 14 percent last year alone.
01/18/05 THE global economy may be hit by a sharp drop in trade following an abrupt decline in the cost of shipping cargoes across the world, analysts say.