|
||||||
|
International Longshoremen’s Association delegates voted overwhelmingly Wednesday for a two-year extension of the union contract covering 18,500 Atlantic and Gulf dockworkers. … ILA President Richard Hughes said he is confident the extension will win rank-and-file approval. He said the agreement a year ahead of the Sept. 30, 2010, expiration of the current pact will [...]  CMA CGM on Tuesday became the largest container line to announce a restructuring in the face of the losses brought on by the biggest crisis to hit the industry. … CMA CGM has long been seen as one of the lines most vulnerable to a slump in traffic volumes and earnings – currently gripping the [...] Greek shipowner and charterer Danaos Corp. said last Tuesday it has not agreed to a deal with Zim, to reduce charter rates on the six containerships Zim is leasing. In a press release Danaos said that: “Zim Integrated Shipping Services Ltd. has stated that it is reducing, unilaterally, all of its long-term charter hire payments [...] China and South Korea’s support for shipbuilders may add to a glut of capacity, slowing a recovery in freight rates and vessel prices. The world’s two largest shipbuilding nations have taken steps this year to aid shipyards and safeguard jobs as customers delay or scrap orders amid tumbling world trade. That support will likely ensure [...] The world trade’s contraction has harshly hit the Mediterranean’s leading shipping company CMA-CGM: freight rates have lowered on average by 75% in 2008, while the group has been enlarging the fleet with a significant number of new vessels – 18 in 2009, ordered when the sector was at its peak – thus causing a huge [...] The German government is ready to provide Hapag-Lloyd with state loan guarantees worth $1.759 billion, a government official told Reuters on Monday, speaking on condition of anonymity. The guarantee is the amount which the shipping line, which is owned by German travel company TUI AG and Albert Ballin, had sought. Hapag-Lloyd lost $274.3 million in [...] The Port of Vancouver ended 2008 in a “strong” financial position, according to a report released Monday by the Washington state Auditor’s Office. The positive appraisal comes despite the onset of the global recession late last year and a slight dip in the port’s net assets to almost $150 million as of Dec. 31, 2008, [...] Haifa: Troubled Israeli container line ZIM Integrated Shipping has reached an understanding with shipyards regarding postponing the delivery of four new ships, writes source Your Industry News. This follows a recent understanding to postpone delivery of nine 12,600teu ships until 2014 or 2015. … ZIM ceo, Rafi Danieli: “As with the rest of the shipping [...] Neptune Orient Lines subsidiary APL, China Cosco Holdings and 12 other container lines agreed to raise rates on Asia-US routes, seeking to end a price war caused by slumping demand, overcapacity and “panic”, writes Fresh Plaza. The lines decided on a $500 increase for carrying a 40-foot box from August 10 as a “voluntary guideline,” [...] German shipping group Hapag-Lloyd’s request for 1.2 billion euros ($1.77 billion) in state loan guarantees has merit, Economy Minister Karl-Theodor zu Guttenberg said on Thursday. A final decision on the aid request has yet to be made however, and will be taken by a committee which meets later this month, Guttenberg and an economy ministry [...] Hanjin Shipping, of Korea, incurred a net loss of $516m, with revenues down 38 per cent and Singapore’s Neptune Orient Lines reported a net loss of $391m, with revenue down 37 per cent. Growing numbers of Asian container lines face the prospect of having their ships seized by creditors because of financial strains caused by [...] Canadian Pacific Railroad, looking to capitalize on the regulatory stability and supply chain collaboration Canada has developed, intends to help the Port of Vancouver increase its share of the lucrative market in the U.S. Midwest, the railroad’s chief executive said. …Canadian Pacific intends to build on the infrastructure development and collaborative supply chain efforts from [...] The Baltic Dry Index, the benchmark for freight costs for iron ore, coal and grains, fell for a ninth consecutive session on Wednesday, reflecting concern that demand for commodities from China was starting to weaken. … “The recent decline in the Baltic Dry Index may be an early warning sign,” said James Lord of Capital [...] Seaspan Corporation announced today that it accepted delivery of the CSCL Manzanillo from Jiangsu Yangzijiang Shipbuilding Co., Ltd., on September 18, 2009. The 2500 TEU containership is Seaspan’s sixth newbuilding in 2009 and expands the Company’s fleet to 41 vessels. Upon delivery of Seaspan’s full fleet of 68 vessels, the Company’s contracted revenue stream is [...] Excerpt here. [...] |
 |
|||||
|
© 2013 Longshore & Shipping News, Coast Longshore Division, International Longshore and Warehouse Union, - All Rights Reserved Powered by WordPress & Atahualpa |
||||||
