Moller-Maersk slashes container rates from Asia to US by 25% Danish shipping and oil group AP Moller-Maersk has slashed container freight rates from Asia to the US West Coast by nearly a quarter as the American economy slows, industry sources said last Friday.
Owners fear domino effect from loss of trust ECSA chairman Philippe Louis-Dreyfus warns industry erosion of confidence could force market down further.
Market holds breath for news of derivatives defaults
IMO calls for policy on arming vessels FLAG states should work with owners to come up with a policy on carrying armed professional security teams on ships.
Transpacific box rates dragged down by weak demand ASIA-US rates 'fall substantially' as recession in America hits demand.
Berlin turns on shipping funding tap GERMANY'S federal government is pledging hundreds of millions of euros in financial guarantees and disbursements to German yards and ports to mitigate the economic downturn
Piracy spreads to South China Sea PIRATES have reportedly attacked a coal ship 10 n-miles off Malaysia
Polish yards snagged on layoffs POLAND'S main opposition party refused today to support the government's bill on severance packages for shipyard workers
US LNG crisis deepens US LNG imports are falling more rapidly than predicted, bolstering the case against new terminal schemes and raising serious concerns about existing facilities
Pollution payout over Hawaii reef OWNERS of the pollution control vessel Casitas have today agreed to pay $2.8M a consent decree filed in a Hawaiian federal court for damages caused when the vessel grounded on a reef in July 2005
Subcontractor yard peril warned TURKISH shipyards are using a subcontractor system that results in deadly working conditions, a union leader warned Fairplay today
Cruise ship hits rocks in Antarctica AN ARGENTINE cruise ship ran aground off Antarctica last night but is not at risk of sinking, an Argentine maritime official told Fairplay today
Court delays LA-LB trucks ruling until '09 Federal judge won't rule before next year on FMC's request to block parts of the clean-trucks program at Southern California's largest container ports
Thousands must re-apply for TWIC after contractor error
Box slide hits 16th month
Container capacity shrinks
US, China in trade co-op
Export ABCs: Cargo insurance
Asia-NZ slots for Maersk
Panama Canal gets bids for latest expansion project
To lay-up or not to lay-up: that is the question Today's 64-million-dollar question at the top of the agenda for embattled ocean carriers and boxship owners is, yes or no: should we lay-up surplus or redundant vessel capacity? It's a tough call. Electing to mothball depreciating assets - while still incurring significant operating overheads - has to be weighed up against the race-to-the-bottom risk scenario: the more cargo you carry the more you lose
'Rotterdam Rules' heads up for terminal operators
Barcelona breakwater finished
'The Box' arrives in LA
Maersk improves intra-European service [corrected copy]
Finstaship directors resign Managing director Esko Mustam'ki and financial director Hannu Haltsonen at Shipping Enterprise Finstaship in Finland are resigning their offices. Master mariner Veijo Hiukka has temporarily been appointed new managing director. Finstaship is expected to generate a clear loss for 2008 ...
Maersk Line to lay up eight container ships Maersk Line will lay up eight container carriers for at least the coming six months in order to reduce the capacity on the services, due to a declining market. However, some of the eight vessels will be laid up in ...
Absalon handed over pirates On Friday morning the Danish frigate Absalon handed over eight suspected Somali pirates to the authorities in Yemen as distressed seafarers. Last night they were taken on board Absalon after being found drifting at sea. The engine on the pirate ...
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