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Dry Container

Rate Increase, Transatlantic Trade

As a result of market instability in the transatlantic trade, Maersk Line is announcing the following general rate increase, effective 1 April 2009. The filed increases are as follows between Northern Europe and the East Coast and Gulf Coast of North America: •    $160 per 20 ft dry container •    $220 per 40 ft container/high cube/45 ft container/reefer The filed increases are as follows between Northern Europe and the West Coast of North America: •    $200 per 20 ft dry container •    $300 per 40 ft container/high cube/45 ft container/reefer  The increases apply equally to all Eastbound and Westbound cargo moving between the US & Canada and Northern Europe.


Crowley Acquires 4,300 Pieces of Liner Equipment

Photo: Crowley

In response to continuing high customer demand, Crowley Maritime Corporation’s liner services group has placed orders for additional equipment, including hundreds of new chassis and containers for use in the company’s U.S., Puerto Rico, Caribbean and Central America trade lanes. This latest equipment acquisition includes nearly 400 gensets – both nosemounts and underslungs – which will begin arriving in Jacksonville between July and September


Crowley Adds 400 Refrigerated Containers

Photo courtesy Crowley Maritime Corporation

As produce farmers across the Americas gear up for the peak winter produce season, Crowley has added 400 new refrigerated containers to its fleet to accommodate their needs. The 40-ft containers were delivered last week at Puerto Limon in Costa Rica and will be distributed throughout the Central American countries Crowley serves within the next couple of weeks. The state-of-the-art units were purchased to accommodate future growth and to replace older units


Maersk Line to Increase US Gulf/WCSA Freight Rate

Photo courtesy of Maersk Line

Maersk Line informs its customers it will be implementing a General Rate Increase (GRI) for dry cargo shipments from Houston, TX and New Orleans, LA to West Coast South America. All dry cargo shipments loading from Houston, TX and New Orleans, LA to Chile, Colombia, Peru, Ecuador and Bolivia will be increased by the following amounts and scope, with an effective date of September 16, 2013:     •    USD 150 per 20’ container


National Strike at French Ports

Workers at French ports embarked on a national strike starting at 6 a.m. local time today, February 12. The strike, which affects most public terminals but not private ones, will likely last 24 hours. Fos/Lavera - Port workers stopped work 12/0600 (probably until 13/0600) at Fos/Lavera oil terminals (not fully privatized). Dry bulk and containers terminals must be affected too (dockers). Le Havre - Private terminals (CIM/Antifer – crude oil and product cargoes) not affected/ Dry


Box Prices Rise for the First Time in 2 Years

Photo: Drewry

Drewry’s latest Container Equipment Insight, exclusive to subscribers of Drewry’s Container Leasing and Container Census reports, saw prices for new dry freight containers increase in the opening months of 2014 for the first time in two years. Standard box prices declined gradually throughout 2013, falling by late in the year to their lowest point since 2009, and they have so far barely managed to recover 10% by April 2014


Container Census & Container Equipment Insight Publication

Frontispiece: Image DMR

Described by publishers Drewry Maritime Research as the definitive Annual enhanced with quarterly updates released in July, October, January and April. Key areas of analysis in the Annual include:     •    Development of the global container fleet     •    Forecasted supply and manufacturing levels of new containers     •    Fleet ownership profiles, including geographical analysis


Container Equipment Leasing Rates Hit Record Lows

Development of per diem rental rates and ex-factory prices for newbuild 20ft standard container placed on long-term operating lease (LTL), 2004-16 (Source: Drewry Maritime Research)

Container equipment rental rates came under renewed pressure in 2014 and by mid-2015 new dry freight pricing was at a 10-year low, while lease rates had fallen to an all-time low, according to the latest edition of the Container Leasing report published by global shipping consultancy Drewry. Similarly, used dry freight container prices have also reached a five-year low, largely in line with the decline in new equipment costs and also because of increased resale volumes.   


India: Negative Outlook on Shipping Sector

Image: Shipping Corporation of India

 India Ratings and Research (Ind-Ra) has maintained a negative-to-stable outlook for the shipping sector for the current financial year.   The agency expects the performance of dry bulk and container operators to continue to be affected by weak global trade growth and persistent overcapacity, while the offshore segment will face the negative impact of lower crude oil prices.   The agency, however, believes that the tanker segment


Slower China Growth Hurts Global Shipping Sector: Fitch

Image: China Ocean Shipping Company

 China's slower growth and economic transition will pose significant risks for the already struggling shipping sector, rating agency Fitch said.   The shipping sector is already faces overcapacity, weak freight rates and stretched financials.   "Weaker data on exports and manufacturing in China and its economic transition increase uncertainty for container shipping," said Fitch in a report.  


LNG Bulker Cements Thordon's Green Future

JT Cements LNG-fuelled cement carried Greenland undergoing sea trials (Photo: Thordon Bearings)

Sea trials aboard Greenland, the world’s first LNG-fuelled short-sea dry bulk vessel, have validated the performance of Thordon Bearings COMPAC propeller shaft solution, indicating that seawater-lubricated bearing systems are applicable to all ship types and are definitely here to stay.


Grounded Giant Chinese Boxship Freed

One of the world's largest container ships has been freed from a mud bank after running aground almost a week ago near Germany's largest port of Hamburg, German authorities said on Tuesday. The vessel CSCL Indian Ocean of Chinese company China Shipping Container Lines was pulled free by tugs


Containers to Be Weighed Before Departure

Photo: Danish Maritime Authority

In a new measure aiming to minimize the number of shipping accidents, packed containers intended to be carried on international sea voyages must be weighed before being loaded, starting July 1, 2016.   In recent years, there has been a number of accidents where large ships have lost


Amazon Expands Logistics Reach in China

Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages.   Its plans in China, outlined in filings there, include handling cargo and customs for goods headed to ports in Japan


Maybulk Issues Profit Warning

Photo: Malaysian Bulk Carriers

 Malaysian Bulk Carriers Bhd (Maybulk) is forecasting significant losses for the fourth quarter of 2015 and the financial year ended December 31, 2015 amid depressed market condition.   Maybulk, which operates the country’s largest fleet of dry bulk vessels used for international


Dry Bulk Suffers From Poseidon’s Potent Prongs

Graph: Clarksons Research

 It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year so far, says Clarksons Research.   With a nearly constant stream of negative news continuing to emerge across each of the key dry bulk


Syscorp Focuses on Domestic Routes

Image: Shin Yang Shipping Corp Bhd

 Shin Yang Shipping Corp Bhd (Syscorp) has shifted the focus of its container shipping business to domestic routes in the face of continued volatility in the international container shipping market, reports the Star.   The leading Malaysian shipping company has realigned its focus to


New China Cosco Shipping Commencing Ops

Pic: China Cosco Holdings

China's Ministry of Commerce has approved the merger of China Ocean Shipping (Group) and China Shipping (Group) so that the combined company can begin full operations.   The company sources said, the newly merged entity will officially be launched and commence operations in Shanghai on


Kalmar to Deliver Straddle Carriers for Maher's NJ Terminal

Straddle carriers for Maher Terminals Photo Cargotec

Kalmar has received a large order for  27 straddle carriers from its long-term customer Maher Terminals LLC in Elizabeth, NJ.   The order has been booked into Cargotec's 2015 third quarter order intake and deliveries are expected to be completed during the spring 2016


Boxship Aground Near Port of Hamburg

A Chinese container ship that is one of the world's largest has run aground on the river Elbe near Germany's largest port Hamburg but shipping to the harbour continues as normal, German marine police said on Thursday.   The stricken vessel is the CSCL Indian Ocean of Chinese shipping


Diana Shipping to Acquire Three Panamax Ships

Diana Shipping Inc. has signed, through three separate wholly-owned subsidiaries, three Memoranda of Agreement to acquire from a related party three Panamax vessels for an aggregate purchase price of $39.8 million. These vessels are the m/v Sunshine, a 2010 built Panamax dry bulk vessel of 75


Dry-Bulk Shipping: Hitting the Bottom

Photo: China COSCO Bulk Shipping (Group) Co

 Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei.   The global commodities bust has rocked the dry-bulk shipping industry


Asia-Europe Box Rates Down 8 pct

The containership Maersk Kalmar. Maersk controls around a fifth of containers transported from Asia to Europe. (file image)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.


Cosco Merger May Change Industry Dynamics

Image: China Shipping group

 The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ.   The merger will free the two Chinese shipping groups from competing


Demolition Age Drops as the Dry Bulk Market Enters Another Challenging Year

Graph: BIMCO

 The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions, says BIMCO.   2016 has shown no improvements so far and prospects for the rest of the year are not looking promising






 
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