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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

Antwerp Port Volume up 3.3% in 9 months

Courtesy Antwerp Port

The port of Antwerp continues its excellent performance, handling 161,671,573 tonnes of freight in the first nine months of this year, up 3.3% on the same period last year. The container volume in the first three quarters came to more than 7.5 million TEU. This represents growth of 4

Hanjin Talks on Long Beach Sale

Photo: Hanjin Shipping Co Ltd

 Hanjin Shipping Co Ltd is in talks to sell its stake in the Long Beach Terminal in California to Geneva-based Mediterranean Shipping Company S.A.(MSC), reports Reuters.   The court overseeing Hanjin's receivership says the company is negotiating with MSC

Container Shipping Industry Calls for Climate Action

Pic: Business for Social Responsibility

 Members of BSR’s Clean Cargo Working Group (CCWG) have agreed on a climate action statement and call to action for the container shipping sector and its value chain to support private-sector contributions for the global goals on climate change.   

Moore Stephens: 4th Straight Year of Operating Costs Decline

Richard Greiner (Photo: Moore Stephens)

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average of 2.4% in 2015.   This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction

Container Shipping Market has Bottomed Out

Photo: CMA CGM

Hanjin’s receivership represents the trough of the container shipping market and despite continuing concerns of weak trade growth and fleet oversupply a gradual market recovery is now expected, according to the latest annual Container Forecaster and Review 2016/17 report published by global

Hyundai Mulls Bid for Hanjin Assets, Routes

Photo: Hanjin Shipping

Hyundai Merchant Marine is considering bidding for its bigger local rival Hanjin Shipping Co.'s Asia-U.S. route, reports Yonhap.   Hyundai Merchant, currently under a creditor-led debt restructuring scheme, is planning to submit a preliminary bid for Hanjin Shipping's route

Freight Futures Market Avoids Tougher EU Information Disclosures

The European Union's securities markets regulator has dropped proposals to make participants in the multi-billion dollar commodity derivatives market for freight rates disclose knowledge of loading conditions, the Baltic Exchange said.  

Asia Dry Bulk-Capesize Rates could slide as Tonnage Outweighs Demand

A typical Capesize Bulker (credit: BSM)

Many vessels available for charter put pressure on freight rates. Freight rates for large capesize dry cargo ships on key Asian routes are set to slide next week as the number of ships available for charter outpaced cargo demand, ship brokers said on Thursday.

NYK Expects Loss of $1.9 Bln

Image: NYK Line

 The Japanese shipping operator Nippon Yusen Kabushiki Kaisha (NYK Line) will book an ‘extraordinary’ loss totaling 195 billion Japanese yen (U.S. $1.89 billion) for the interim period of its current fiscal year, forced by a deep slump in the shipping market to write down the

Gibdock Performs Quick Freight Ferry Repair

Photo: Gibdock

Gibdock has redelivered the Seatruck Ferries container/ro-ro vessel Clipper Point on-time, after a fast turnaround 11-day renewal project for the Clipper Group-owned operator. The ship has subsequently been introduced to Seatrucks’ Irish Sea operations.  

147 Vessels Sent to Shipbreaking

Photo: NGO Shipbreaking Platform

 So far this year 147 vessels have been sent to the shipbreakers for their steel to be recycled, Telegraph reported quoting new data from Braemar ACM shows.   A record number of container ships have been scrapped this year as owners battle a perfect storm of vast overcapacity and

Drewry Finds Risk of Carrier Failure Still High

Figure 1

Drewry’s Z-score carrier financial stress index sunk to its lowest ever point following the first-half 2016 results. After Hanjin’s bankruptcy shippers are demanding more financial transparency from carriers. There is still much work to be done to clean up the logistical chaos

Japan's NYK Line Warns of $1.9 bln hit to Earnings

NYK Line may book losses as shipping slump slashes asset values. Nippon Yusen, Japan's biggest shipper by sales, warned it would book a $1.9 billion hit to first-half income, after the industry's deepening slump forced it to write down the value of container ships and other assets.

Zim to Defer $115 Million in Debt Payments

A Zim Boxship alongside and working cargo. (Credit: Zim)

Israeli shipping company Zim, which has been hit hard by the weak global shipping market, said on Wednesday it was planning to defer $115 million of upcoming payments to creditors until 2018. Zim said in its second quarter report that it had agreed with some of its creditors to defer payments

Top 5 Carriers to Dominate Container Shipping, Says Drewry

Photo: Hapag-Lloyd

If both APL and UASC are included within their new parents, the top five ocean carriers now control approximately 54 percent of the world’s containership fleet, says Drewry.   In 2015, the top 10 carriers were close to controlling 90 percent of the market

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