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Freight Containers

COA Appoint Panocean V-P to Board

The Container Owners Association (COA) appoints O. I. Kwon, Senior V-P, Container Business Management Division, STX Panocean, to its Board. The Container Owners Association (COA) was established in November 2004 as an international organisation representing the common interests of all owners of freight containers, worldwide. It has over 165 Members, including container shipping lines, leasing companies, intermodal operators and suppliers of a wide range of container equipment and services. Mr Kwon joins six other Directors, who represent some of the world’s largest container owners, on the Board of the Container Owners Association. "“It is a great honour – both for me personally, and for my company STX Panocean - to join the COA Board,”" Mr Kwon said. “"This position carries considerable responsibility and I will do my best to promote the COA in Asia and to support the wide range of initiatives that the COA is working on." The COA Board comprises senior representatives from some of the world’s largest container shipping lines and leasing companies, including: Maersk Line, CMA-CGM, United Arab Shipping Company, STX Panocean, Seaco Global, Triton Container and Florens Container Services.   Its newly appointed Chairman is Michael Callus, Vice-President, Container Management, at UASC.


Crowley Adds Vastly to its Fleet Cargo-Handling Equipment

New Shipping Containers: Photo credit Crowley

Crowley Maritime Corporation’s liner services group is adding more than 3,000 pieces of cargo handling equipment to its diverse fleet. The additional resources will allow the company to better meet increasing customer demand throughout Puerto Rico, the Caribbean and Latin America service areas. The equipment  includes 200 53-foot (102-inch wide) dry containers, 200 45-foot (102-inch wide) dry containers, 500 20-foot dry containers, 1,000 40-foot dry high-cube containers


BWTS in a Box Fits in Cargo Hold

BWTS Box Technology: Image credit MHI

New ClassNK-approved container-type Ballast Water Treatment System (BWTS) installation technology. Mitsubishi Heavy Industries, Ltd. (MHI), working jointly with Mitsui O.S.K. Lines, Ltd. (MOL), has developed installation technology of a ballast water treatment system (BWTS) enclosed in a standard-size freight container for installation in the hold of container ships. The new technology will significantly reduce BWTS retrofitting turnaround time in comparison to engine-room BWTS installation


Calais Crisis Presents Liability Issues, TT Club Warns

As the political and humanitarian situation in Calais continues to unfold, the specialist freight transport insurer, TT Club provides a perspective on the implications for the freight and haulage industry and steps which operators can take to avoid heavy penalties from being caught carrying illegal immigrants. While focused on the current situation in Calais, the precautionary measures recommended are generally relevant.  


ITCO Promotes Safe, Green Tank Containers

The International Tank Container Organisation (ITCO) will unveil a new tranche of industry knowledge on intermodal tank containers in three specialist presentations to be made at the Transport Logistic 2009 event in Munich on 12-15 May 2009. Two of the papers highlight recent studies which bring together a wide range of established knowledge to explain why tank containers are the safest, most reliable and efficient means of transporting bulk liquids, powders and gases


Following the Path of the Transport Revolution

Photo credit: Captain Katharine Sweeney

TT Club, established to fill a gap in insurance as the freight container revolutionized trade, celebrates 45 years dedicated service to the transport and logistics sector. In 1956, the first strengthened containers were loaded onto a spar deck of the converted tanker, Ideal X. This marked the fulfilment of a dream for American trucker Malcom McLean who had, since 1937, been working on how to reduce the long waiting hours for dockers to stow or unload his vehicles onto or off ships


First Electronic Container Freight Swap Settled in USD

Saxo Bank and ICAP Shipping Involved in World's First Electronic Container Freight Swap Settled in USD.   Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were involved in the execution of the world's first electronic, voice-assisted trade of a container freight swap agreement settled in US dollars. The counterparties to the trade were Saxo Bank in Denmark as the buyer and a Netherlands-based trading house


China Joins UN Trucking Treaty

China has taken a major step towards establishing a speedy new "Silk Road" to Europe by signing up to a U.N. trucking treaty.   Fifteen years after joining the World Trade Organization (WTO), China is hoping a revival of its ancient trading corridor to the west will help boost its slowing economy.   Becoming a member of TIR, an international guarantee scheme that will enable Chinese freight containers to travel all the way to Ireland without being opened up for


Index-Linked Container Contracts Take-Off

Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks.   Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts, according to the US Federal Maritime Commission (FMC). The agency also indicated that uptake of index-linked container contracts on US trades was fast growing


Asia to Northern Europe Shipping Rates Jump 177%

Photo by Maersk Line

 Asia to Northern Europe shipping freight rates for transporting containers jumped by 177.3 percent to $1.109 per 20-foot container (TEU) in the week ended on Friday, reports Reuters, quoting data from the Shanghai Shipping Exchange.   As all major container shipping lines implemented a price hike announced earlier, the  freight rates rose nearly three-fold.   Freight rates on the world’s busiest shipping route have tanked this year due to overcapacity in


BG Freight Line Orders Four Containerships

Image: BG Freight Line

BG Freight Line, a fully owned subsidiary of Peel Ports Group, is to receive new tailor-made short sea container feeder vessels optimized for the company’s Irish Sea Hub services.    The new class of ‘green’ vessels has been developed by BG Freight Line operation with


Port of Hamburg Seaborne Cargo Down Slightly in 2016

Containervessels at HHLA Container Terminal Altenwerder (Photo: Port of Hamburg)

First-half seaborne cargo throughput of 70.2 million tons reflected stabilization of the trend for the Port of Hamburg. At the same time, a steep increase occurred in freight transport by rail to/from the Port of Hamburg.   At 70.2 million tons


Wave goodbye to $50 bln - Drewry

Figure 1 Estimated industry revenue, 2008-16F (USD billion) Note Preliminary forecast based on smaller 1H16 sample

Container industry revenues are contracting faster than carriers can cut costs. First-half results so far suggest sales are down by around 18%, increasing the pressure to reduce costs. The container shipping industry is currently enduring a severe revenue contraction that is placing carriers


Low Freight Rates Hit Maersk Line

Photo: Maersk Line

 Record low freight rates have driven the World’s largest container carrier Maersk Line to report a second-quarter loss of US$151 million.   The second quarter result and revenue both fall year-on-year as average freight rates hit record low levels


Asia N.Europe Box Rates PLunge 10.5 pct

A containership alongside engaged in cargo operations in the port of Hamburg, Germany (port of Hamburg)

Container spot freight rates from Asia to Northern Europe fell 10.5 percent to $771 per twenty-foot equivalent units (TEU) last week, data from the Shanghai Shipping Exchange showed. Specifics of the Intermodal news include:   Freight rates from Asia to ports in the Mediterranean


Maersk Paints a Gloomy Picure

Photo: Maersk Line

 Danish shipping conglomerate A.P. Moeller-Maersk A/S has reported a plunge in profits in the second quarter in the face of tough market conditions.    Maersk's quarterly net profit dropped 89 per cent to $118m compared with a year earlier


Rickmers Group Revenue Slides in First Half of 2016

In the first half of 2016 the Rickmers Group generated consolidated revenues of €249.3 million ($279 mln), 13.9 percent lower than in the corresponding period in 2015 (€289.6 million, $324 mln).   The main underlying factors are the persistently strained market situation


Cost Cuts Ease Pain of Maersk's Gloomy Shipping Forecast

File photo: Maersk Line

Net profit below forecasts, operating figure above; group hit by low freight rates and low oil prices. A.P. Moller-Maersk's progress in cutting costs reassured investors on Friday after the Danish shipping and oil giant reported a sharp decline in quarterly profit and its new chief executive


Newbuild Volatility to Alter Future Shipping Cycles -MSI

Photo: Robert Kunkel

Independent research and consultancy firm Maritime Strategies International (MSI) has forecast a structural change to future shipping cycles, driven by increased volatility in newbuilding activity.   In an article by Dr. Adam Kent, MSI notes that as a consequence of the current glut of


Hapag-Lloyd in Troubled Waters

Photo: Hapag-Lloyd AG

 German container shipping company Hapag-Lloyd AG has swung to a loss in the first half of the year as tumbling freight rates weighed on revenue.   The bad news comes as the Hamburg-based company tries to boost its fortunes through a merger with United Arab Shipping Company.  


Hapag-Lloyd Posts H1 Loss

File Image: A Hapag-Lloyd Containership. (credit: Hapag-Lloyd)

Freight rates down 20 pct; CEO says to focus on costs cuts, merger deal with UASC. German container shipping group Hapag-Lloyd said it dropped to a first-half operating loss as disappointing freight rates hurt its business. The loss before interest and tax (EBIT) came to 39


Orient Overseas Hit with Loss

Photo: Orient Overseas Container Line (OOCL)

 The downturn in the container industry has taken a toll on the half-year results from Hong Kong-based Orient Overseas (International) Ltd, the parent of Orient Overseas Container Lines (OOCL).   OOCL turned to a $56.7m loss in the first half (for the six-month period ended 30th June


Asia-N.Europe Box Rates Plunge 23.5 pct

File Image: a containership alongside during cargo operations in the port of Oakland, CA (credit: Katharine Sweeney)

Container spot freight rates from Asia to Northern Europe fell 23.5 percent to $861 per twenty-foot equivalent units (TEU), data from the Shanghai Shipping Exchange showed. Freight rates from Asia to ports in the Mediterranean fell 13.8 percent to $865 per TEU. Freight rates from Asia to the U.S


Spot Rate Trends on Asia-Europe See Reversal: Drewry

Graph: Drewry

 The downwards trend line in Asia-Europe spot freight rates has finally been reversed, as data from World Container Index Shanghai-Europe reveals.   Whereas the first four months of 2016 saw 50% or larger reductions in freight rates and record-low spot rate levels


Brexit Implications for Global Shipping, Sea Trade

Photo:  International Chamber of Shipping

 The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect that Brexit will have on local and global economies, says  Eversheds International.  






 
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