Total container capacity supply by ocean carriers on the three main east/west shipping trades rose by an average of 5 percent in 2001 despite the recent attempts of several carriers to remove excess capacity, according to a report released this week by ComPair Data Inc., a global ocean shipping research and information technology firm based in Jacksonville, Fla. Several ocean carriers in the transpacific and Asia/Europe routes made capacity cut-backs in the last three months of 2001, according to the January 2002 World Liner Supply report from ComPair Data, leading to an average 1-percent reduction in east/west capacity. But those reductions did not outweigh the addition of substantial new vessel capacity early last year or the ongoing expansion of other carriers, which led to the overall annual capacity increase. Results of the January 2002 World Liner Supply report show that transpacific shipping lines have expanded capacity by 3 percent between January 2001 and January 2002. Transpacific capacity currently amounts to over 196,000 TEUs a week (equivalent to a yearly one-way capacity of 10.2 million TEUs), down 6 percent from the corresponding figures in October 2001, but up from capacity offered in January 2001. "Capacity growth has slowed down, but there are still concerns about a further rise in over-capacity in the major trades," said Hayes H. Howard, President of ComPair Data
DP World and the Prince Rupert Port Authority have announced an agreement to study further expansion of the Fairview Container Terminal in Prince Rupert. The agreement was signed by DP World Canada Group General Manager, Maksim Mihic, and Prince Rupert Port Authority President & CEO, Don Krusel, further strengthening the commitment of their respective organizations to the development and growth of the Port of Prince Rupert.
The deployment of the 4,050teu Aguascalientes on the Mexico-Asia Premier service completes TMM's newbuild program on the transpacific. The ship, on long-term charter, joins the TMM Monterrey and four other sister ships on the weekly Mexico-Asia Premier service. It is the last of the series of newbuilds, both owned and chartered, which we have taken delivery of in the last 18 months. The 3,200 teu TMM Yucatan, TMM Colima and TMM Guanajuato, all owned ships
John P. Lauer has joined Matson Navigation Company as director, Transpacific services, for Matson's China - Long Beach Express. Lauer will lead Matson's U.S. sales efforts for its burgeoning China - Long Beach Express service and will focus on trade lane yield management and revenue enhancement strategies in conjunction with other Matson operations. He will report to Dave Hoppes, senior vice president, ocean services.
Mediterranean Shipping Company (USA) Inc. (MSC) has announced the following staff promotions and appointments effective immediately: Francesco Pansardi was named Marketing Manager, based in New York City; Tom Hughes was named National Trade Manager Transpacific Service, based in Los Angeles; Halina Rosa was named Trade Manager East Coast for the company's Transpacific service based in New York City; and Juan Wilson has been named Credit Manager, also based in New York City.
Total vessel capacity supply by ocean carriers on the transpacific trade has started increasing again, according to a report released this week by ComPair Data Inc. Weekly eastbound transpacific capacity expanded by 2 percent between January and April 2002, to 201,000 TEUs, while the latest capacity count also represents a 4-percent increase when compared to April last year. CHART Changes in Asia/North America eastbound capacity 2001-2002 (based on index
The Horizon Hawk, a new 2,824 TEU containership in the Horizon Lines, Inc. fleet, made her maiden call today at Tacoma, launching the carrier's enhanced Transpacific-1 (TP1) service between Mainland US, Guam, Micronesia and Asia. The Horizon Hawk is the first of the five Hunter class vessels entering service this year for Horizon Lines, the leading American domestic ocean carrier. All five are of proven international design, have a service speed of over 23 knots and are U.S
APL, the container transportation arm of Neptune Orient Lines, has signed a charter agreement for five new post-Panamax container vessels. The ships will each have a nominal capacity of 7,000 TEU (twenty-foot equivalent unit) and will be deployed in the Transpacific trade from 2009. The vessels are being built at Hyundai Heavy Industries in South Korea and will be chartered for five years from German owners, Bernhard Schulte.
Drewry’s latest Container Forecaster is optimistic that a market‘recovery is underway but cautions that close monitoring of key market drivers is essential as the patient is not off the at-risk list yet. The latest container trade data suggests we may have entered a real recovery phase but comparisons with the depth of the recession in 2009 must be treated with caution. With a major carrier failure thus far averted and container volumes on the upturn
The Drewry Hong Kong-Los Angeles container rate benchmark, soared by 17.5% to US$2,452 per 40ft container this week. Last week’s Drewry transpacific price benchmark dated 1st August increased by just $71 per 40ft container from levels in the previous week, but it has now become clear that the rate increase was deferred by most carriers. “We said last week that one factor in the price changes was that carriers are staggering the implementation of this month’s GRI [General
Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates
Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight
Taiwan’s shipping company Wan Hai Lines has placed an order for eight 1,900 teu box ships worth a total of $212 million - $236 million. Wan Hai said that the vessels will be built by shipbuilder Naikai Zosen Corp.
On 26th June 2016, a landmark development for the shipping industry will occur with the opening of the new third set of locks at the Panama Canal. Clarksons Research takes a look. Around ten years in the making, the expansion will enable significantly larger ships to transit the
All signs point to a continuation of struggling theme for containerized-ocean-freight industry into 2016 and beyond, warns a study by AlixPartners. The containerized-ocean-freight industry suffered in 2015. Its continuing financial woes accelerated because nearly all key
No improvement in capesize rates expected until April; around 120 capesize vessels idle or open for charter -broker Freight rates for capesize bulk carriers on key Asian routes are likely to remain flat as the number of vessels for hire outpaces cargo demand, ship brokers said.
French carrier CMA CGM’s revenue and profit slipped last year despite a 6.3 percent volume increase, but the company said it’s counting on cost cuts and the pending acquisition of Singapore’s NOL to overcome a “tough” start to 2016.
The World Container Index’s composite index, an average of spot freight rates on 11 global East-West routes connecting Asia, Europe and the US, reached a record low of US$701 per 40-foot container on March 10, says Drewry Shipping Consultants.
Three years ago the majority of containerships sized 8-12,000 TEU were deployed on the Asia-Europe route. In the period since, this sector of the fleet has expanded considerably, whilst also diversifying in deployment, and these ships are now viewed as the future ‘workhorses’ of
Coordinated efforts create outlet for Oregon agricultural producers Piggybacking on the success of the Upriver Container Barge-Rail Shuttle program, Northwest Container Service announced they would increase rail service from twice a month to weekly starting in April
CMA CGM Group has decided to postpone its project to deploy 18,000 TEU-capacity vessels on Transpacific market trade. The much-anticipated launch of a weekly service with six mega-ships which was planned for the end of May has been delayed in order to optimise the use of its
Four carriers have announced a new OCEAN Alliance to start next year. Where does this leave those carriers left behind? To the surprise of many it was announced last Wednesday that four carriers – CMA CGM, COSCO Container Lines
Chemical tanker shipping freight rates are expected to remain firm over the medium term, thanks to rising production capacity in key exporting countries, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.
Matson Logistics Supply Chain Services is expanding its less-than-container-load (LCL) capabilities by offering direct fast transit from China to the New York and New Jersey markets. The service is based on Matson’s China-Long Beach Express (CLX) service
In 2015, it was the Asia-Europe route which was the focus of changing deployment trends, says Clarksons Research. This year, it is the Transpacific trade which looks poised to drive key changes in containership deployment, with the expansion of the Panama Canal due to open in late