As previously reported, the MOL Comfort ruptured on 17th June whilst en route from Singapore to Jeddah with over 4,000 containers on board. Shortly afterwards, the vessel split in two and the stern section sank after drifting for 10 days.
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China Shipping Container Lines (CSCL) is looking to place an order for five 18,000 teu vessels (known as triple- E) to add to its current fleet.
At the start of 2013, the freight rate level was already below the long term average with the carriers looking at ways to push rates upwards.
The freight rate increases imposed by all carriers on this trade lane from 1st July appears to have succeeded. There are good reasons for this;
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