Carriers Blank More Sailings as Transpacific Box Rates Continue to Slide

By Gavin van Marle (The Loadstar) - A blanked sailing from the 2M+HMM grouping on the transpacific this week failed to halt the further erosion of freight rates to both the Asia-US west coast and Asia-US east coast destinations. The departure of the 8,500 teu Hyundai Faith, scheduled for this week, was cancelled “to rationalise capacity supply from Asia to the US west … [Read more...]

DHL Says Ocean Freight Rates Have Reached Turning Point

DUESSELDORF, Germany, April 6 (Reuters) - Demand for ocean and air freight has been better than expected this year, with increasing volumes and rates finally improving after years in the doldrums, executives from freight forwarding company DHL, part of Deutsche Post DHL Group, said. "We're seeing relatively high demand for both ocean and air freight. We're seeing rising … [Read more...]

Capesize Rates to Fall as Too Much Tonnage Stalks Market

By Keith Wallis SINGAPORE, Oct 20 (Reuters) - Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes, brokers said on Thursday. "The market is absolutely dead today - it's all very doom and gloom," said a Singapore-based capesize broker on Thursday. While BHP Billiton and Rio Tinto … [Read more...]

Freight Futures Market Avoids Tougher EU Information Disclosures

By Jonathan Saul LONDON, Oct 14 (Reuters) - The European Union's securities markets regulator has dropped proposals to make participants in the multi-billion dollar commodity derivatives market for freight rates disclose knowledge of loading conditions, the Baltic Exchange said. The European Securities and Markets Authority (ESMA) published its report on Sept. 30 on its … [Read more...]