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OOCL revenues plunge in 2023, amid solid container growth — OOCL revenues plunge in 2023, amid solid container growth

11/01
2024

COSCO-owned Orient Overseas Container Line (OOCL) has seen a huge 49% decrease in its fourth quarter revenues, compared to 2022 Q4, reporting US$1.62 billion.

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Maersk announces new peak season surcharges worldwide — Maersk announces new peak season surcharges worldwide

11/01
2024

Maersk has unveiled new peak season surcharges worldwide, which are going to take effect in January and February.

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Port Houston handles nearly 3.5 million TEUs in November — Port Houston handles nearly 3.5 million TEUs in November

29/12
2023

Throughout November 2023, Port Houston managed nearly 3.5 million TEUs, reflecting a 5% decrease compared to the record volumes of the previous year.

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CMA CGM close to top spot in intra-Mediterranean — CMA CGM close to top spot in intra-Mediterranean

29/12
2023

CMA CGM is about to surpass Mediterranean Shipping Company as the largest intra-Mediterranean operator, according to Alphaliner.

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Freight rates on Indian trades move up amid Suez Canal routing disruptions — Freight rates on Indian trades move up amid Suez Canal routing disruptions

27/12
2023

After a long streak of declining trends, container freight rates on major trades out of India have begun to rise amid carrier routing disruptions through the Suez Canal, according to the latest market analysis by Container News.

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Oakland sees declined box traffic in November — Oakland sees declined box traffic in November

22/12
2023

The Port of Oakland reported a 6.8% drop in its container volumes in November, handling 132,648 TEUs.

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Panama Canal drought could boost New Year rates — Panama Canal drought could boost New Year rates

19/12
2023

Drought in Panama and war around the Red Sea and Suez is a slow-burning but developing crisis for the container shipping industry as both canals become choke points that could see freight rates double.

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Hapag-Lloyd increases rates from Asia to Latin America — Hapag-Lloyd increases rates from Asia to Latin America

12/12
2023

Hamburg-headquartered container line Hapag-Lloyd has announced a General Rate Increase (GRI) from Asia to the West Coast of Latin America, Mexico, Caribbean, Central America and Latin America East Coast.

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RELATED NEWS

Seaport container handling fees to be adjusted from mid-February 2024 — Seaport container handling fees to be adjusted from mid-February 2024

30/01
2024

The Ministry of Transport has recently issued a circular on seaport services fees, including cargo loading and unloading fees.

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Hanoi modernises logistics industry — Hanoi modernises logistics industry

30/01
2024

Currently, the system of warehouses and logistics yards in Hanoi is still small, lacking connections and types of specific goods storage such as cool and cold storage, or document warehouse

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CMA CGM to apply new congestion surcharge in Cameroon — CMA CGM to apply new congestion surcharge in Cameroon

24/01
2024

In response to the existing congestion situation in Kribi, Cameroon, CMA CGM has announced the implementation of a Port Congestion Surcharge (PCS).

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Los Angeles maintains dominance in US despite container decline — Los Angeles maintains dominance in US despite container decline

19/01
2024

In the last month of the previous year, the Port of Los Angeles demonstrated robust performance by processing 747,335 TEUs, marking a 2.5% increase compared to December 2022.

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Hapag-Lloyd’s departure shakes-up THE Alliance — Hapag-Lloyd’s departure shakes-up THE Alliance

19/01
2024

Shipping pundits are expecting liner alliances to be redrawn, after Maersk Line and Hapag-Lloyd announced on 17 January that they will form Gemini Cooperation in February 2025.

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Port of Los Angeles to handle 85,000 metric tons of Chilean fruit imports during winter season — Port of Los Angeles to handle 85,000 metric tons of Chilean fruit imports during winter season

19/01
2024

This week, the Port of Los Angeles welcomed the initial vessel of Chilean fruit for the year, carrying over 5,300 pallets loaded with grapes and stone fruit.

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Maersk and Hapag-Lloyd to form new alliance — Maersk and Hapag-Lloyd to form new alliance

18/01
2024

Two container giants, Denmark's Maersk and Germany's Hapag-Lloyd have signed an agreement for a new long-term operational collaboration.

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CIF Cost, Insurance and Freight

“Cost, Insurance and Freight” means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. The seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination. ‘The seller also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage. The buyer should note that under CIF the seller is required to obtain insurance only on minimum cover. Should the buyer wish to have more insurance protection, it will need either to agree as much expressly with the seller or to make its own extra insurance arrangements.”

CFR Cost and Freight

“Cost and Freight” means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. the seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination.

FOB Free On Board

“Free On Board” means that the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel, and the buyer bears all costs from that moment on wards.

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