Maritime

  • Vietnam's Cai Mep port gets set to benefit from supply chain switch from China

    Jul 1, 2020 — South Vietnam’s Cai Mep-Thi Vai container port recently saw the maiden call of 2M’s TP17 service – another milestone in the long-awaited comeback of the much maligned deepwater complex. The 12,000 teu Seroja Lima was welcomed by the APM Terminals-operated Cai Mep International Terminal (CMIT), the second-largest of the port’s seven competing facilities and boasting a 25% share of volumes.
  • More transatlantic blankings are unveiled as a new trade war threatens

    Jun 25, 2020 — 2M partners Maersk and MSC have extended the suspension of their TA4/NEUATL4 transatlantic loop through to September. In contrast to the main Asia-Europe and transpacific tradelanes, where carriers have seen a pickup in demand in recent weeks, trade between Europe and the US is still very much in the doldrums.
  • New Zealand Tightens Border Rules

    Jun 23, 2020 — Cargo vessels will still be allowed to load and unload, fishing vessels to unload and resupply, and vessels can come to New Zealand to undertake repairs and refitting, Prime Minister Jacinda Ardern said, although some quarantine rules would be tightened.
  • Hawaiian Barge Loses More Than 20 Containers Overboard Off Hilo

    Jun 23, 2020 — A Hawaiian interisland barge lost more than 20 containers overboard off the coast of Hilo on Monday morning and several containers remain missing. The U.S. Coast Guard said it responded to a report of lost cargo from the barge Ho Omaka Hou as the tug Hoku Loa was transiting with the barge to Hilo Harbor.
  • MPC Container Ships flags bankruptcy risk

    Jun 22, 2020 — Oslo-listed MPC Container Ships has warned it could go bankrupt and will face severe liquidity strains from as early as next month. In a presentation to bondholders on Friday, the company, one of the fastest growing boxship tonnage providers in recent years, said it will need to sell ships or risk going bankrupt unless it can seal a $200m loan soon.
  • Box Carriers’ Blanked Sailing Strategy Could Bring $9 Billion in Profit

    Jun 22, 2020 — Notwithstanding a significant decline in container liftings as a consequence of the global pandemic, ocean carriers have a more optimistic outlook for earnings. Sea-Intelligence said that, based on its remodelling, the carriers could potentially achieve a profit for the year “in excess of $9bn”.
  • Transpacific spot rates hit highest level for 18 months, but US imports are drying up

    Jun 15, 2020 — Last week’s Shanghai Containerized Freight Index (SCFI) recorded a second massive spike, of over 25%, in three weeks to take the spot rate to $2,755 per 40ft – double the rate recorded by the index at this time last year.
  • More blanked voyages a summer certainty on major east-west trades

    Jun 8, 2020 — The widespread removal of capacity across most of the world’s shipping trades via blank sailings and the withdrawal of services been the primary reasons that freight rates in recent weeks have managed to remain relatively high.
  • World’s Largest Megaship Arrives in Europe

    Jun 4, 2020 — The 24,000 TEU-class HMM Algeciras arrived in Rotterdam today setting a new record as the largest ship to enter a European port. The ship arrived at Rotterdam’s Amaliahaven to transfer containers at the Rotterdam World Gateway (RWG) terminal after traveling from the Chinese port of Yantian on its maiden voyage.
  • 'No hope' of bounce-back in demand for container shipping this year

    May 26, 2020 — Cold water is being poured on any optimistic outlook by some ocean carriers for a speedy recovery of the container industry from the impact of Covid-19. In his latest assessment of the market, Bimco’s chief analyst, Peter Sand, said the current economic situation “provides no hope for a short-term recovery”.
  • Maersk Sees Sharp Drop in Global Container Shipping Demand This Year

    May 14, 2020 — Maersk, which also reported a 23% rise in first-quarter core profits on Wednesday, now expects global container demand to contract this year, after previously forecasting growth of between 1% and 3%.
  • Panama Canal Emerges from Dry Season Promising Steady Draft Reliability

    May 14, 2020 — The Panama Canal says water conservation measures have been successful in securing steady draft reliability for the next several months as the waterway continues to seek long-term measures to ensure water levels are maintained. After several years of below average rainfall, last year the Panama Canal experienced its fifth driest year in 70 years with rainfall just 20 percent of average.
  • World’s Largest Containership Departs China with Record Load

    May 12, 2020 — The world’s largest containership has departed China carrying a record 19,621 TEUs. South Korean shipping line HMM said its new HMM Algeciras departed the Port of Yantian on May 8 bound for Rotterdam with 19,621 TEUs loaded on board.
  • Lines using cheaper Cape of Good Hope route will cost Suez Canal $10m

    May 6, 2020 — According to new Alphaliner research, “the number of containerships that have opted to use the Cape route and bypass the Suez Canal has risen to a historic peace-time high,” including at least 20 sailings on the Asia-Europe, Europe-Asia and North America east coast-Asia trades.
  • FMC commissioners call for federal support for 'struggling' box terminal operators

    May 4, 2020 — The US federal government should consider stepping in to help container terminal operators stay in business, as volumes plummet as a consequence of the coronavirus pandemic.
  • Some relief for seafarers trapped at sea for months as a few nations ease restrictions

    May 4, 2020 — Thousands of seafarers remain trapped at sea, on containerships and other cargo vessels, by coronavirus travel restrictions – a threat to supply chains, the International Chamber of Shipping (ICS) has warned. According to the Chamber, the number of seafarers in need of a crew change will reach 150,000 by 15 May.