Maritime

  • New mega-containership arrivals risk upsetting the balance on box trades


    Aug 20, 2020 — Despite the containership orderbook at an historic low, the top carriers have a backlog of 86 ships of over 10,000 teu stemmed for delivery over the next two to three years. The orders were placed before the pandemic stunted global growth, but with considerable uncertainty over the speed of a recovery against the recessionary background, the deployment of 1.47 million teu of capacity on the newbuild ULCVs could prove challenging.
  • Container Costs Risk Spiraling Out Of Control


    Aug 20, 2020 — Container shipping costs and service levels are at risk of spiralling out of control, according to Drewry. As well as a massive withdrawal of capacity since the start of the Covid-19 crisis – 468 blanked departures on east-west trades – the analyst said schedule reliability had been “extremely low”.
  • Pandemic to Weigh on U.S. Ports’ Peak Shipping Season


    Aug 14, 2020 — Imports at major U.S. container seaports could hit their lowest level in four years as the novel coronavirus pandemic pummels a U.S. economy that was already grappling with negative effects of the U.S.-China trade war, experts said.
  • Hong Kong Seaport Alliance offers remedy to address competition concerns


    Aug 13, 2020 — Long plagued by monopoly accusations, the Hong Kong Seaport Alliance, formed by four of the five container port operators at Kwai Tsing Container Terminals, has released a list of proposed remedies in order to address concerns raised by Hong Kong’s competition authority.
  • Three men fined in Nigeria as new anti-piracy laws take effect


    Aug 13, 2020 — A new anti-piracy law in Nigeria has delivered its first results. A court in Port Harcourt has fined three men $52,000 each for hijacking a ship in March and securing a ransom of $200,000 for the release of its crew. Nigeria is the world’s hotspot for piracy with four out of five attacks around the globe taking place in and around its waters.
  • Strong winds cause container cranes to collapse at JNPT, Mumbai


    Aug 6, 2020 — With heavy rains continuing to lash the city of Mumbai, the Jawaharlal Nehru Port Trust (JNPT) at Navi Mumbai has not been able to carry out the planned insurance survey after three out of its nine ship-to-shore cranes collapsed Wednesday due to strong winds.
  • More carriers must blank voyages to avoid transatlantic rate collapse


    Aug 5, 2020 — Transatlantic demand continues to be hit by the pandemic, obliging carriers to extend voyage-blanking programmes and putting rates under pressure.
  • Vessels redirect to other ports as strike chaos continues at Montreal


    Aug 5, 2020 — The stand-off between labour and employers at the port of Montreal saw another strike disrupting container traffic this week. Frustrated by the situation, carriers have begun to redirect vessels to other ports.