Amazing how the obvious doesn't always happen. When Lehman Bros collapsed 5 years ago banks stopped trading with each other, letters of credit became a nightmare, and the financial system was close to collapse. Against this background shipping analysts looked at the enormous shipbuilding orderbook and concluded that it wouldn’t be delivered.The problems seemed insurmountable. The orderbook was an enormous 584m dwt, 47% of the fleet, with a contract value of $542bn. The first obstacle was that the banks had too many problems with their existing ship loan portfolios to contemplate adding another
While intra-regional trade is likely to be the largest source of trade volume growth this year, the prospects for inter-regional trades remain diverse. The Graph of the Month shows the projected absolute volume growth in 2013 accounted for by a breakdown of routes, along with full year % growth forecasts.Mainlane trade growth is likely to remain relatively subdued this year, as the US and European economies struggle to achieve substantial growth. Westbound Far East-Europe trade grew by 1.1% in 1H 2013, and is expected to grow by 1.4% in full year 2013, adding just 0.19m TEU to last year’s tota
Maersk Line almost doubled its second quarter profit as above-target cost cuts, buoyed by lower fuel prices, more than offset sluggish growth in container volumes and a double-digit decline in freight rates.The world’s largest ocean carrier posted a net operating profit of $439 million in the three months through June, against $227 million in the same period in 2012.A.P. Moller-Maersk said it now expects its container shipping unit’s full year profit to be “significantly above” 2012, compared with an earlier forecast of “above” the $461 million it earned last year.“Maersk is now an industry le
Containership building is dominated by South Korean and Chinese shipyards, who together accounted for 86% of the capacity on order at the start of July. South Korean yards have contracts for 1.76m TEU, while Chinese yards have just over a million TEU on their orderbook. However, until now the two key building nations have been largely focused on distinct size sectors, and have displayed differing delivery performance versus schedule.The Graph of the Month shows that containership building has become increasingly dominated by South Korean and Chinese yards, with Japanese shipyards in particular
Awkwardly perched on cargo ships such as the Zhen Hua 24 are new and bigger cranes destined be installed at shipping ports around the world.The recent delivery of huge new containerships like CMA CGM Marco Polo and the 18,000 TEU Maersk Mc-Kinney Møller, as well as the expansion of the Panama Canal marks a new era of global container shipping, one that is requiring ports worldwide to supersize their cranes.APM Terminals released the following graphic today showing how container cranes have evolved in size over the years.APM notes that a number of their ports have been recently upgraded to hand
It is reported that Hanjin Shipping has teamed up with APL and ANL to offer a new weekly service covering Asia, Australia and New Zealand.Being named as AAZ (Asia - Australia - New Zealand for Hanjin Shipping), the service is scheduled to be launched on Sept. 1, 2013. Under the Vessel Sharing Agreement (VSA), Hanjin Shipping will be operating with another two partners each contributing two container ships and allocating a combined capacity of up to 2,200 TEU for every weekly sailing.Rotating from Singapore, Port Klang, Brisbane, Sydney, Auckland, Tauranga, Brisbane and back to Singapore, the s
P3 Roils the WatersPeter Tirschwell, Senior VP Strategy|Jul 05, 2013 8:30AM EDTprint665071As the container shipping market sizes up the impact of the P3 alliance amongMaersk Line, Mediterranean Shipping and CMA CGM, some key themes are emerging: Don’t expect a reduction in capacity, don’t expect any less competition, expect more commoditization of service and, perhaps along with that, an increasing trend toward the spot market and hedging.Nowhere in the picture is the idea that the P3 will stabilize rates or create upward pressure on rates, or that any other carriers are likely to drop out. “N
Ocean Carrier Rate Revision Roundup for July 5JOC Staff |Jul 05, 2013 12:09PM EDTprint1001Majorcontainer lineshave announced rate increases for a variety of trades, as detailed below, with most slated to take effect in August.Asia-EuropeEffective Aug. 1,Maersk Linewill hikerates from India and Sri Lanka to North Europe by $200 per 20-foot container and $400 per 40-foot, 40-foot high-cube and 45-foot high-cube container. Starting Sept. 1, Maersk Line will boost rates from the India subcontinent and the Middle East to North Europe by $350 per 20-foot container and $700 per 40-foot, 40-foot high-
Asia’s Shipping Industry Downturn Draws Private Equity InterestBYREUTERSONJULY 2, 2013STX Pan Ocean’s Ocean Vanguard, image: STXBy Keith WallisSINGAPORE, July 3 (Reuters) – U.S. private equity and investment funds are betting Asia’s shipping industry, hit by a restructuring wave that has already swept Europe and the United States, is the best spot to ride a recovery from the industry’s worst downturn in three decades.Sturdy commodity demand growth and slower newshipdeliveries will help balance fleet and cargo demand for the first time since 2004, analysts say, boosting freight rates by next ye
Europe’s Exporters Must Take Fair Share of Freight Rates, say Container LinesBYTHE LOADSTARONJULY 1, 2013Image: AP Moller-MaerskEuropean exporters targeting markets in China and elsewhere in Asia have been warned that the era of cheap container shipping freight rates on the backhaul Asia-Europe leg is likely to come to an end.Maersk’s head of Asia-Europe Network, Lars Mikael Jensen, told delegates at the TOC Container Supply Chain conference in Rotterdam, which opened today, that European exporters should expect to pay a greater share of the overall costs incurred by lines running strings betw
Dry Bulk Shippers Rally as China Books More Ore CarriersBYBLOOMBERGONJUNE 25, 2013Vale Brasil, Credit: Agência ValeJune 25 (Bloomberg) — The biggest jump in shipping rates since September is spurring speculation that demand from Chinese steelmakers is rebounding after stockpiles of the second-biggest seaborne cargo dropped to a five-year low.Rates for Capesizes, the largest iron-ore carriers, doubled in 10 days, a sign to ICAP Plc and Pareto Securities AS that more cargoes are being booked. The shipments would arrive in two to three months, boosting port stockpiles that fell to about 21 days o
Gazprom Announces Plan to Build 13 Ice-Class LNG Carriers, New Strategic PartnershipsBYROB ALMEIDAONJUNE 21, 2013Image: STXIn St. Petersburg, Russia, it was a day of signatures and handshakes as strategic partnerships were formed between Russian energy major Gazprom, JSC United Shipbuilding Corporation, and the Russian Maritime Register to cooperate on a strategic initiative aimed at maximizing Russian content in all elements of their LNG shipping activities, as well as supporting the development of a new LNG carrier construction facility at USC’s shipyard ‘Zvezda’ inBolshoy Kamen, slightly ea
Drewry’s recently launched Container Freight Rate website, shows that average global freight rates fell to a 17-month low in May.Saturday, 22.Jun.2013, 21:52 (GMT+3)Drewry: CFRI reports global freight rates hitting 17-month lowDrewry’s recently launched Container Freight Rate website, shows that average global freight rates fell to a 17-month low in May. Drewry’s Global Freight Rate Index declined for the fourth consecutive month shedding 9% in May. While the bulk of the damage came from east-west routes and particularly westbound rates on the Asia Europe trade lane, weak load factors led rate
STX Pan Ocean Seeks Protection From US CreditorsBYREUTERSONJUNE 20, 2013June 20 (Reuters) – The bulk shipper STX Pan Ocean Co Ltd filed for protection under U.S. bankruptcy law on Thursday to shield its assets from creditors in the United States, less than two weeks after filing for court receivership in South Korea.STX sought protection under Chapter 15 under the U.S. bankruptcy code with the federal bankruptcy court in Manhattan.The company had previously said it needed protection because it faced “a liquidity crunch” that left it unable to obtain sufficient funds to repay its debt, which re
Alphaliner - TOP 100Operated fleets as per 18 June 2013Based on existing fleet and orderbookTEU capacity available on board operated ships.All figures areconsolidatedThe graph and figures shown in this section can be reproduced freely, provided that the source is mentioned (Alphaliner)How the Top 100 is computed ? Download market share studyGLOBAL FIGURESToday, there are5,932ships active on liner trades, for17,265,244TEU and220,789,046TDWIncluding4,960fully cellular ships for16,803,144TEUThe total existing cellular fleet (all sizes / all positions) stands at4,967ships for16,835,
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