The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index surged 36.7 percent since last week’s reading to a reading of 752.65, with rates on the Shanghai to Northwest Europe trade jumping 77.4 percent to $1,206 per TEU.
The shipper advocacy group said some carriers and other service providers to the shipping industry appear to be exploiting the new new verified gross mass rule by imposing exorbitant and unjustified charges for ‘administration fees’ and other ‘services.’
The container terminal operator reached an agreement with joint venture partner Aarhus Service Holding for the purchase of the remaining 40 percent of the existing APM Terminals-Aarhus terminal.
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INTTRA has secured commitments from five of the top seven global forwarders for its eVGM product, which allows container weight verification data to be transmitted electronically to carriers.
The freight forwarding arm of Danish shipping conglomerate AP Moller Maersk said it will provide weighing and data transmission services to help shippers comply with new SOLAS verified gross mass requirements.
Due to the deterioration of container freight rates and the subsequent drop in carrier financial results, analysts with Drewry Maritime Equity Research foresee a possible combination of Korean and Japanese carriers.