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Largest Container Ships

Laid-Up Container Ships

A sharp contraction in world trade has idled more than 200 container ships, threatening the survival of many companies, according to The Journal of Commerce. "The slump in container shipping appears certain to extend into 2010 or beyond. Some companies won't survive," said Joseph Bonney, editor-in-chief of The Journal of Commerce. Carriers operating from Asia to Europe, the world's busiest container trade route, are expected to lose up to $5b this year. Additional losses are forecast for 2009. "This is the biggest challenge the industry has faced since container ships began replacing conventional freighters nearly 50 years ago," Bonney said. Statistics compiled by PIERS (Port Import Export Reporting Service) Global Intelligence Solutions, a sister company of The Journal of Commerce, show that volume on Asia-to-U.S. routes declined 7.8 percent in 2008. The decline accelerated toward the end of the year as the recession hit full force and retailers cut back on orders. Further declines in trade volume are forecast for this year. Most of the world's trade in consumer and manufactured goods is carried in containers, which began to replace conventional freighters on international trade routes in the 1960s. Today the largest container ships carry enough cargo to fill 6,000 over-the-road trucks.


Sungdong Shipbuilding Wins $583M Order

According to a Jan 31 report from Reuters, South Korea's small and medium-sized shipbuilder Sungdong Shipbuilding and Marine Engineering Co Ltd  won orders worth $582.6m to build six large container ships. (Source: Reuters)  


Container Ship Capsizes in Belgian Port

Photo Credit: International Marine Consultancy According to the Herald Tribune, a large container ship capsized during loading Thursday in Belgian port city Antwerp, officials said. No injuries were reported. The cause of the capsizing of the Republica di Genova, a roll on/roll off vessel of the London-based Grimaldi Lines, was not immediately clear, authorities said. Grimaldi Group vessels carry containers and Fiat cars from Italy to Antwerp.


Wreck Removal Costs More Nowadays

Insurers, Lloyd's of London, say in a new report that the cost of dealing with shipwrecks is rising as ships grow in size. The report, 'The challenges and implications of removing shipwrecks in the 21st century', warns that the cost of dealing with shipwrecks is spiralling and the increase in removal cost is often passed to insurers, reinsurers and ship owners. Recent examples of expensive wreck removals include the container ship Rena which sank off New Zealand in 2011


Taiwan's Evergreen Plans Mega-Containership Fleet Upgrade

Evergreen Line vessel: Photo courtesy Evergreen Lines

Evergreen Marine Corp, Taiwan's largest container shipping company, plans to charter seven new vessels with capacity of 14,000 twenty-foot equivalent units (TEU) to upgrade its fleet at lower unit costs, while disposing of smaller and older vessels, reports the Taipei Times, . The seven vessels — owned by Sumitomo Corp, a leading integrated trading company in Japan — are scheduled to be delivered to Evergreen in 2016 and 2017, with a 10-year term of tenancy.


Korean Yard to Build World's Largest Container Ship for CSCL

Shipyard workers: File picture

Hyundai Heavy Industries (HHI) say they have begun building the first of five 19,000 TEU container ships for China Shipping Container Lines (Hong Kong).   HHI explain that the shipowner upgraded the original order for five 18,400 TEU containerships to ones capable of delivering 600 more containers, and thus these new ships will be the largest container ships ever built they claim. The new container ships will feature 77


Ship Grounded off Norfolk Coast

A rescue operation has been launched after a large container ship ran aground off Haisboro Sands. The vessel, The City of Sunderland, is carrying a cargo of 642 Nissan cars and is currently lying on a sand bar eight miles off the north Norfolk coast. There are 13 crew members on board. The 9,576 ton ship became stuck at approximately 2.20am this morning while on a voyage from the port of Zeebrugge to Tees Port.


MSC and CMA CGM Enter Partnership

MSC Ship:Image MSC

 The world’s second and third-largest container shipping companies have announced the signature of a major agreement.   The two family-owned companies, the Swiss-Italian MSC and France’s CMA CGM, today agreed to form a broad-based operating partnership spanning several trades, including Asia-Northern Europe, Asia-Southern Africa and all of the South American markets. The agreement, which is designed to improve the two partners’ respective performance


Korean Shipbuilders Wins UASC Container Ship Orders

Malik Al Ashtar: Image courtesy of UASC

United Arab Shipping Company (UASC) has placed orders worth over $2 billion for very large container ships with South Korea's Hyundai Heavy Industries., reports Trade Arabia. UASC has ordered five vessels of 18,000 twenty-foot equivalent units (TEU) each, and five 14,000 TEU vessels. The ships are to be delivered starting in late 2014. In addition, UASC has signed options to buy one additional 18,000 TEU vessel and six 14,000 TEU ships


Hapag-Lloyd, CSAV Advance Merger Negotiations

Photo: Hapag-Lloyd

Talks between German containership company Hapag-Lloyd and Chilean fellow shipping company Cia. Sud Americana de Vapores SA (CSAV) about combining the container liner shipping activities are entering the next phase, Hapag-Lloyd said in a press release today. Both companies have signed a nonbinding Memorandum of Understanding (MoU). As the next step, the due diligence will take place, after which a binding contract could follow, Hapag-Lloyd said.


CMA CGM Reports Solid Performance in 2013

Photo: CMA CGM

The Board of Directors of France’s CMA CGM, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the year ended December 31, 2013.


Miami's Port to Issue Bond to Pay Debt, Fund Tunnel Project

The port of Miami's total debt is set to pass $1 billion after Miami-Dade County commissioners approved a $225 million bond offering on Tuesday to meet existing lending agreements and pay the balance on a nearly finished underground tunnel connecting the island-port to nearby highways.


Maersk Line named race partner for the Volvo Ocean Race

The world’s largest container shipping company, Maersk Line, is the official shipping partner for the Volvo Ocean Race, the pre-eminent round-the-world yacht race. The race takes place from 4 October 2014 to 27 June 2015. During the nine month race, seven 65-foot (19


Rotterdam port's throughput almost stable

The Port of Rotterdam’s throughput in the first quarter of 2014, at 109 million tonnes, was 0.2% below the level for the corresponding period last year.Split up by goods type, less crude oil (-2%), mineral oil products (-14%) and other liquid bulk cargo (-14%) were transferred


Arctic Sea Routes of Limited Use to China

Photo: The Arctic Institute

As China’s international trade remains seemingly ever-growing, the country continues to seek diversified options for expanding its global trade. The prospect of Arctic shipping passages have generated much discussion throughout the industry


Atlantic Energy Enters Total Lubmarine Fleet

Atlantic Energy

A naming ceremony was held for Atlantic Energy, the newest addition to marine lubricant provider Total Lubmarine’s fleet. The ceremony for the the newly-built vessel took place on November 18 at Posttrans B.V in Rotterdam, The Netherlands.


CMA CGM Records Mixed Q3 Results

CMA CGM Marco Polo (Photo: CMA CGM)

The Board of Directors of CMA CGM Group, the world’s third largest container shipping group, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the third quarter 2013.


Adani Ports, Port of Zeebrugge Explore Joint Opportunities

The signing ceremony in Mumbai

Adani Ports & SEZ Ltd., India’s largest private port developer and part of the Adani Group, signed a Memorandum of Understanding with the Belgian Port of Zeebrugge to act as a strategic entry port for the lucrative European market. It will now collaborate with the Belgian port to explore


UASC Places Huge Containership Order

United Arab Shipping Company (UASC) closed a $1.3 biillion (USD) multi-tranche syndicated loan facility for the partial financing of seven 14,000 TEU container ships and five 18,000 TEU container ships. The facility is part of a larger $1.7 billion debt financing related to UASC’s announced


New Report Examines MOL Comfort Casualty

MOL Comfort: Photo courtesy of PTI

Following the loss of the container vessel MOL Comfort on June 17, 2013, ClassNK established a special Casualty Investigation Team in order to investigate and determine the cause of the casualty. Japan’s Ministry of Land, Infrastructure


MOL Responds to Containership Safety Report

MOL Comfort: Photo courtesy of PTI

Mitsui O.S.K. Lines, Ltd. (MOL) responded to the interim report of the Committee on Large Container Ship Safety related to the incident on June 17, 2013, involving the MOL-operated MOL Comfort, which hull broke in half. The committee was established by Japan’s Ministry of Land, Infrastructure


Hans Jakob Kruse has Died

Hapag-Lloyd mourns the loss of former Executive Board chairman Hans Jakob Kruse, who led the company from 1973 until 1993. On February 4, Hans Jakob Kruse died in Hamburg at the age of 84. He was the chairman of the Hapag-Lloyd Executive Board for two decades from 1973 until 1993.


Maersk Beats Profit Forecast on Shipping Business

Q4 net profit falls to $936 mln vs $808 mln forecast; Company will issue bonus shares. Danish shipping and oil group A.P. Moller-Maersk said 2013 net profit fell less than expected thanks to higher earnings at container shipping business Maersk Line


Price-Fixing Chilean Shipping Firm Fined US$8.9-Million

Reuters –  Chilean shipping firm Compania Sudamericana de Vapores has agreed to plead guilty to a price-fixing conspiracy and pay an $8.9 million criminal fine to the U.S. government, the U.S. Justice Department informs. The Justice Department's anti-trust prosecutors said in a


Rickmers Charter Out Two Panamax Container Ships

A Maersk Containership: Photo courtesy of the owners

Rickmers Maritime, inform it has chartered out to Maersk Line the container ships 'Henry Rickmers' (formerly 'Ital Fastosa') and 'Richard Rickmers' (formerly 'Ital Festosa'), each of them 3,450 TEU panamax-size container ships. Henry Rickmers will be delivered to Maersk Line this week and Richard


 
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