Transpacific demand triggers rate boost

Container carriers in the US-Asia markets will ask shippers for USD1,600 in rate and surcharge increases by 1 July, citing strong cargo demand in 2Q15.
The increases, announced by the Transpacific Stabilization Agreement (TSA) on 6 May, include a USD600 per feu rate increase effective 1 June and 1

MHI books $8.3bn orders in FY2014

Japan’s Mitsubishi Heavy Industries (MHI) said on 8 May that its shipbuilding unit booked almost JPY1 trillion (USD8.3 billion) worth of orders for fiscal year 2014 (FY 2014), which ended on 31 March.
This exceeded the JPY360.3 billion of orders booked in FY 2013.
The surge was due to the higher

North Korea Threatens South with Targeted Strikes

By Reuters 2015-05-08 02:56:06 North Korea’s military warned on Friday of “unannounced targeted strikes” against South Korea’s navy, accusing the South of violating its territorial waters off the peninsula’s west coast, the scene of deadly naval clashes in the past. Pyongyang’s warning came during the annual crab fishing season, which runs until June in the…