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World’s leading shipping firms mull alliance
The world's three largest shipping firms - Maersk Line, Mediterranean Shipping Company and CMA CGM – decided to form a grand alliance, named P3 Network, by the second quarter of 2014. However, the alliance is subject to regulatory and government approval.The alliance would pool the vessels of the three companies, equivalent to 15 per cent of glob
CMA CGM hikes freight rates
Effective March 3, shipping firm CMA CGM decided to raise freight rates on its trade from northern Europe to India and Pakistan. The firm would raise the tariff by $150 per 20-foot dry container and $200 per 40-foot dry container. Effective March 15, the ocean carrier will hike rates from all Asian ports to the east and west Mediterranean and Black Sea by $65

