Israel Corp. subsidiary Zim Integrated Shipping Services Ltd. said it had placed an order to purchase eight mega container ships from the South Korea’s shipyard Samsung Heavy Industries Co. Ltd. The deal, valued at $1.37b, ($170m each) comes six weeks after Zim Integrated Shipping Services Ltd. announced its plan to upgrade its container vessels fleet. The company had ordered eight TEU 12,600 mega containership for delivery by July 2012. The purchase will substantially increase the Israeli-based carrier's fleet when the vessels arrive in 2012. The order took the global shipping sector by surprise, since Zim had generally bought its containerships from rival South Korean's Hyundai Shipyards. Earlier this year the line purchased two 2,450-TEU containerships with an option to buy additional two. These vessels are scheduled for delivery in 2010-11. [Source: http://www.port2port.com]
The massive 19,100-TEU containership CSCL Globe has arrived in Hamburg on its maiden voyage; growth in China trade continues The Port of Hamburg will handle a 19,100-TEU vessel for the first time, as CSCL Globe, currently the world’s largest containership operating in a liner service, is ported in Hamburg from January 13-15 on its maiden voyage deployed in the Europe-East Asia trade. This year, China is due to again further expand its position as Hamburg’s leading
The long-established Hamburg shipping line Hapag-Lloyd named a containership in Malaysia for the first time. The patron of the 336m long “Kuala Lumpur Express” is Ursula Adrion, wife of Adolf Adrion, member of the executive board of Hapag-Lloyd AG. The “Kuala Lumpur Express” can carry 8,749 TEU and is the second ultra-modern training ship on which Hapag-Lloyd trains its nautical and technical personnel, following the identical
The Hanover Express, which is capable of carrying 8,750 containers, is one of the world’s largest containerships. The newbuilding was recently named in Hamburg. The patron was Gabriele Frenzel, wife of TUI’s CEO and chairman of the supervisory board of Hapag-Lloyd, Dr. Michael Frenzel. Naming ceremonies for large containerships are still something special even in Hamburg, and nearly 300 guests from business and politics – including the Mayor of Hamburg Ole von Beust and the Mayor of
In 2015, it was the Asia-Europe route which was the focus of changing deployment trends, says Clarksons Research. This year, it is the Transpacific trade which looks poised to drive key changes in containership deployment, with the expansion of the Panama Canal due to open in late June. In addition, there is now increased interest in the deployment of ‘mega’-boxships on the Transpacific route.
Japanese Yard to Build World’s Largest (20,000 TEU) Containerships Imabari Shipbuilding Co., Ltd. secured newbuild orders with the cooperation of Marubeni Corporation for eleven 20,000TEU Ultra-Large Container Carriers, when delivered the largest containerships in the world. The new ships, the first of which is scheduled to be completed in early 2018, will measure approximately 400m long and 59m wide. Imabari has built more than 200 container carriers, including the 4
The Berth 9 Extension at the Port of Felixstowe, the Port of Britain, has been opened by Dr Therese Coffey MP, Deputy Leader of the House of Commons. The 190-metre extension increases the port's capability to work two of the world's largest containerships simultaneously. More than eighty ships of 18,000+TEU have already been handled at the port in 2015, confirming Felixstowe's position as the port-of-choice for mega-ships in the UK.
The Global Shippers’ Forum (GSF) says that the use of mega ships and alliances remain the main problems within the shipping sector. The popular belief is that larger ships and alliances are good for competition because of the benefits they give, but the reality is that there are added costs due to the negative externalities they impose on others, says Chris Welsh, general secretary of GSF.
Frost & Sullivan today launched its latest research, Mega Trends Malaysia in collaboration with the Malaysian Investment Development Authority (MIDA). Mega Trends are defined as transformative, global forces that define the future world with their far reaching impact on business, societies, economies, cultures and personal lives. According to Hazmi Yusof, Malaysia Country Head and Senior Vice President of Frost & Sullivan
Hsin-Chi Su, Chairman and CEO of Today Makes Tomorrow Group (TMT) launched a suit in Texas federal court on July 28, 2014, alleging that a planned bankruptcy sale of three company ships, including M.V.D Whale, M.V.G Whale and M.V.H Whale, to Mega International Commercial Bank Co. Ltd. (Mega Bank) will strip him of intellectual property worth more than $100 million for each ship. According to Ken Liang's deposition at the court, Mega Bank is the agent for vulture fund Oaktree Capital Group.
CMA CGM’s mega containership Vasco De Gama ran aground off the Port of Southampton on the UK’s south coast just after midnight on August 22, 2016, reported Fleetmon. The damages of the 2015-built, 17,859 teu giant vessel are being assessed
On August 18, a new container terminal built by NYK Line together with PT. Pelabuhan Indonesia II (Persero) (IPC), Mitsui & Co. Ltd. and PSA International Pte Ltd opened for commercial service at Tanjung Priok Port in Jakarta, Indonesia.
While the shipping industry struggles through a historic downturn, ship scrapping business is seeing accelerating demand, reports WSJ. The global economic slowdown is putting shipping through its most bruising period since the 2008 financial crisis.
Euroseas Ltd has announced its results for the three and six month period ended June 30, 2016 as well as certain fleet updates. Total net revenues of $7.3 million. Net loss of $19.2 million; net loss attributable to common shareholders (after a $0
Global Ship Lease (GSL) has extended the charters of the Marie Delmas and Kumasi, two 2,207-TEU vessels, for up to 3.25 years. Under the agreement, a revised rate of $13,000 per day will apply from August 1, 2016 until the charters' previous earliest expiry dates in September 2017
Singapore-based offshore marine group Otto Marine, which is in the midst of a takeover offer by its chairman, has taken a second legal action against payment default, reports Strait Times. Otto Marine said it has commenced arbitration proceedings against Vettal Mega Services
Danaos Corporation, one of the world's largest independent owners of containerships, has reported net income of $47.7 million for the three months ended June 30, 2016 compared to $38.0 million, for the three months ended June 30, 2015, an increase of 25.5% for the period ended June 30, 2016
The Expanded Panama Canal has transited 69 Neopanamax vessels since the Inauguration on June 26, 2016. Specifically, 40 containerships, 24 liquefied petroleum gas (LPG) carriers, three vehicle carriers and two liquefied natural gas (LNG) carriers have transited the Expanded Canal
This week, containership fleet capacity has passed the 20 million TEU mark, another milestone in the rapid rise to prominence of the sector, according to Clarksons Research. Down the years, much of the capacity expansion has been driven by the delivery of larger and larger units at
Elomatic Ltd and Deltamarin Ltd have signed a tri-party engineering contract with shipbuilder MV Werften for the design of Star Cruises’ new Global Class “mega passenger ship,” which, once completed, will be the largest passenger vessel ever built in Germany.
Greece-based Diana Containerships Inc. has reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier. The shipping company posted revenue of $8 million in the period. Net loss for the six months ended June 30
Marking its seventh ship delivery in the span of just over a year, General Dynamics NASSCO has delivered the newly built ECO Class tanker Garden State for American Petroleum Tankers. Garden State was delivered during a special signing ceremony and is one of three classes of ships
The two main construction projects in the Marseille harbor area of leading French port Marseille Fos are nearing completion following a decisive stage in works costing almost €64 million ($70.6 mln) that will cater for mega-ships by enlarging the Passe Nord port entrance and recommissioning
More containership capacity is being demolished than ever before, including old-design ships made redundant by the new Panama Canal. Drewry checks if this end the current capacity surplus? Now is not a good time to own an old containership
New ship orders placed at Japanese yards fell by 80% during H1 2016 compared to H1 2015, according to data from the Japan Ship Exporters' Association (JSEA). According to ALIBRA Weekly Market Report , this is the worst decline since the autumn of 2008 in terms of gross tonnage