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.
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.
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.
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
Maersk Line has opened a new transpacific service between Asia and the United States West Coast. The first sailing is scheduled for September 15. "We are responding to increased demand in the Transpacific," says Klaus Rud Sejling, Head of Maersk Line's East-West Network. The service will be calling Yantian, Shanghai, Busan and Los Angeles/Long Beach. It will have six vessels with a capacity of 4,000 TEU per week deployed
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.
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
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
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
In the containership market today, Panamax sector, the charter rates rest at rock-bottom rates and the fleet is in steady and perhaps terminal decline, with scrapping at record levels. Is the battle now lost? A report by Clarksons Research.
Service introduced in wake of Hanjin announcement and continues from Yantian. MSC’s Maple service is to resume on Friday 28th October, sailing from Yantian and including Vancouver in its full rotation. The service was first introduced in September on the Transpacific
What does the story of the collapse of Korean container shipping line Hanjin illustrate in terms of the journey undergone by the liner sector in modern times? Clarksons Research analyses the biggest headlines that the container, or any other
A Transpacific shipping route linking Asia and the U.S. will add weekly Port of Oakland stops beginning in November. The Port said that Oakland will become the sixth stop in the service operated by three Asian shipping lines.
Global shipping giants are now trying to fill the void left by South Korea's Hanjin Shipping. According to Nikkei, Global shipping heavyweights are rushing to open new lines on the trans-Pacific route, seeking to fill the gaps left by Hanjin.
The world’s largest shipping alliance 2M partners - Maersk Line and Mediterranean Shipping Co (MSC) - have been quick to offer shippers an alternate service on the transpacific trade in the wake of Hanjin Shipping’s collapse.
After successfully acquiring a controlling interest in NOL, CMA CGM has consolidated the Singapore-based company since 14 June, says a press release from the company. Singapore’s Neptune Orient Lines (NOL) is the parent company of container carrier APL.
As the leader of customer-focused terminal operations in North America, GCT USA has welcomed the Hyundai Saturn to GCT Bayonne. The Saturn is the first of five Hyundai ships in the G6's New York Express (NYX) service calling the port of New York and New Jersey through the
It was another lacklustre month for the shipping industry as freight rates in almost all sectors softened further. Drewry’s Earnings Index declined by 0.5% during the month to 52.4. The new locks of the Panama Canal finally became operational in June
Container freight rates are forecast to rise modestly over the next 18 months from the all-time lows reached recently, but this will not be sufficient to rescue the industry from substantial losses in 2016, according to the latest Container Forecaster report published by global shipping
Israeli carrier Zim Integrated Shipping Services (ZIM) might join the 2M Alliance between Maersk Line and Mediterranean Shipping Co., Alphaline said quoting industry sources. This news followed the last week's news of South Korea’s Hyundai Merchant Marine (HMM)
Ocean carriers achieved a six-month high for liner service reliability in May, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors. The on-time average of 76.0% for the 10 trades covered was a 4
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
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.
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