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New Containership

Matson Draws $70m from Credit Line

Matson Navigation Co. Inc. says it has drawn $70m under a $105m revolving credit facility in connection with its latest containership purchase. The 10-year senior secured reducing revolving credit facility is with DnB NOR Bank ASA, Norway's largest financial services group. "A portion of the funds borrowed under the facility was used in connection with Matson's purchase of a new containership, the MV Maunalei, which Matson took delivery of on July 12," Matson said Tuesday. "The balance of the funds borrowed under the facility was used for other general corporate purposes." The funds were drawn on July 12, the same day Matson, a subsidiary of Honolulu-based Alexander & Baldwin Inc., took delivery of the Maunalei, the fourth new containership it bought since 2003 in a $500m modernization program.


Seaspan Takes Delivery of 2nd 10000 TEU SAVER Containership

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  Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the Hanjin Namu. The new containership, which was constructed at Jiangsu New Yangzi Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design, is Seaspan's second of five 10000 TEU SAVER design containerships scheduled for delivery in 2014. The Hanjin Namu will commence a ten-year, fixed-rate time charter with Hanjin Shipping Co. Ltd. ("Hanjin")


Seaspan Acquires 4th 10000 TEU SAVER Containership

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  Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the MOL Bravo. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design, is Seaspan's fourth of five 10000 TEU SAVER design containerships scheduled for delivery in 2014. The MOL Bravo will commence an eight-year, fixed-rate time charter with Mitsui O.S.K. Lines Ltd. ("MOL")


New Containership for Hapag-Lloyd

The Kyoto Express, Hapag-Lloyd’s latest mega containership, was named in Yokohama and consecrated with the traditional Shinto ceremony. The patron was the wife of NYK Chairman Minako Kusakari. The Kyoto Express is a giant containership measuring 1099 ft. (335 m) long, 141 ft. (43 m) wide; and over 197 ft. (60 m) from the keel to the superstructure. The newbuilding has a capacity of 104,000 t and can carry 8,750 standard containers (TEU)


Matson's New Ship Christened

The new Matson Navigation Co. containership MV Maunalei was christened at the Aker Philadelphia Shipyard. The christening, the traditional kind involving breaking a bottle of champagne, was undertaken by Millie Akaka, wife of Sen. Daniel Akaka. Also on hand were Hawaii Rep. Neil Abercrombie and Guam Rep. Madeleine Bordallo. The MV Maunalei is the fourth new containership built by the shipyard for Matson in the past four years


Enterprise Containership Detained; Repayment of $175 Million Bond Forced

Bondholders who financed the shipping company Enterprises Shipholding, said on Tuesday they had arrested one of the company's newest containerships, the Ocelotmax, to force repayment of a $175 million bond on which it defaulted in June. "The Ocelotmax was arrested to secure the bondholders' unquestionable right to judgment and payment of their claims against Enterprises," said a statement from the bondholders. "While the bondholders have initiated multiple efforts to address the default


CP Ships Takes Delivery of TMM Colima

CP Ships Limited has taken delivery of the 3200 teu TMM Colima. It was delivered on schedule by China Shipbuilding Corporation in Kaohsiung, Taiwan. TMM Colima is the third new containership to be delivered under CP Ships' four-year $800 million ship replacement program. It was preceded by sister ship Lykes Ranger delivered in June 2002 and Contship Aurora delivered in September 2002. It is being deployed in the Asia-Americas trade lane.


Synapsis for German Containership Newbuildings

computer rendering of the NSCs new 9,000 TEU series (photo: NSC)

The German navigation system integrator Raytheon Anschütz was selected by the German-based shipowner NSC to supply the latest generation of the IMO-certified Synapsis Integrated Navigation System (INS) to a series of 9,000 TEU Containership newbuildings. The new containerships are built by Korea's Hanjin Heavy Industries and Construction’s Subic Shipyard in Subic Bay, Philippines and are scheduled for entering service in 2014


Matson Containership MV Maunawili Christened in Philadelphia

Matson Navigation Company, Inc.'s new containership MV Maunawili was christened Saturday, July 17 at Kvaerner Philadelphia Shipyard, Inc. (KPSI) by Ms. Maryanna G. Shaw, great grand-daughter of Samuel T. Alexander, one of the founders of Matson's parent company, Alexander and Baldwin, Inc. (A&B). The vessel is the second of a two-ship, $220 million contract with KPSI. Among those present for the ceremony will be Charles M


Canal Proposes New Containership Pricing System

After nine months of informal consultations with its customers and the maritime industry, the Panama Canal Authority (ACP) today announced a formal proposal to update their current vessel measurement and pricing system for full container vessels and other vessel types with on-deck container capacity. The ACP’s proposal would change the system that the Canal currently uses for the container segment – from the Panama Canal Universal Measurement System (PC/UMS) to the industry standard of the


Travel Aboard One of the World’s Largest Containerships

CMA CGM container cruise

  CMA CGM Group is now offering genuine cruises aboard its biggest vessels, the new 16,020 TEUs containerships, such as the CMA CGM MARCO POLO or the CMA CGM ALEXANDER VON HUMBOLDT. These giants of the seas (365 meters long, which is equivalent to more than 4 soccer fields)


Evergreen Holds Naming Ceremony for New Ship

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Evergreen Group held the naming ceremony for Ever Loading, the sixth of its L-type vessels to be built by CSBC Corporation in Taiwan. The ceremony took place at CSBC's Kaohsiung shipyard and was officiated by Bronson Hsieh, Evergreen Group's Second Vice Group Chairman


Seaspan Acquires 3rd 10000 TEU SAVER Containership

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  Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the Hanjin Tabul. The new containership, which was constructed at Jiangsu New Yangzi Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design


Hamburg Süd Christens New Containership

Hamburg Süd today christened its new containership Cap San Raphael in the presence of 700 guests at the Burchardkai Terminal in the Port of Hamburg. The ship’s Sponsor is Ingeborg Schäuble, former Chair of the German Welthungerhilfe and wife of the German Finance Minister, Dr


Container Shipper Nautilus Files for Bankruptcy

Nautilus Holdings Ltd, a Bermuda-chartered company that leases containerships, has filed for Chapter 11 bankruptcy protection in New York, becoming the latest victim of a depressed shipping industry. The company has about $770 million in debt, according to papers filed late Monday with the U.S


Containership to Become Gigantic Artwork

Artist JR will turn CMA CGM Magellan into a giant piece of art (Photo courtesy of CMA CGM)

The CMA CGM Group announced that CMA CGM Magellan, a 365-meter containership, will be covered by a collage made by French artist JR on more than 150 containers as part of “Terre d’Eaux” festival. For the first time, a containership will be turned into a work of art welcoming


Yangzijiang to Build Huge Ore Carriers for Australia

Hanjin Ami, Yangzijiang’s fourth 10,000TEU delivered June 16

Chinese shipbuilder on the SGX Main Board Yangzijiang Shipbuilding Holdings Limited announced that it has secured a shipbuilding contract for four 260,000DWT very large ore carriers (VLOC). The shipbuilding contract was secured from an Australia based ore company listed on the Australian


Global Ocean Trade: Latest Shipbuilding Orders

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Shipbuilding orders for drybulk carriers, tankships, containerships and a RoRo were placed in the past week according to 'Clarkson Hellas S&P Weekly Bulletin'. Dry bulk carriers Cara Shipping, the shipping arm of Chinese domestic company Rizhao Steel, has placed orders for two further 250


Evergreen Name Fifth New Containership

Naming ceremony: Photo Evergreen Group

Evergreen Goup say that their newbuild 'Ever Lissome', the fifth of its L-type containerships to be built by CSBC Corporation in Taiwan, has been named in a recent shipyard ceremony. The ceremony took place at China Shipbuilding Company's Kaohsiung shipyard and was officiated by Raymond Lin


Diana Containerships Reports Q1 Results

Photo: Diana Containerships

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today reported net income of $0.3 million for the first quarter of 2014, compared to a net loss of $31.8 million for the respective period of 2013


Box Ships Inc. Q1 2014 Profit Slip

Image courtesy of Box Ships

Containershilp owners & charters, Greece-based Box Ships, reported that during the first quarter of 2013 it operated an average of 9 vessels. Net Loss and Adjusted Net Income during the first quarter of 2014 was ($1.5) million and $0.3 million, respectively


Matson Q1 2014 Profits Slip, Market Growth Expected

Image courtesy of Matson

Leading US carrier in the Pacific Matson report that in the first quarter of 2014 its financial results were negatively impacted by the timing of fuel surcharge collections. Highlights Net Income of $3.4 million versus $9.1 million in 1Q13


ABS Reports Continued Successes in 2013

ABS Chairman and CEO Christopher J. Wiernicki

ABS hosted its Annual Meeting in New York on April 29, 2014. ABS Chairman and CEO Christopher J. Wiernicki said, "ABS had another strong performance year and achieved several milestones during 2013 as the global economy began to strengthen."  


MOL Achieves 2013 Profitability Goal

Koichi Muto: Photo MOL

The president of Mitsui O.S.K. Lines, Koichi Muto, comments on the company's performance during financial year 2013 in a letter to shareholders, excerpted as follows: Combined with the continuing weaker yen and falling bunker prices, we saw a significant year-on-year improvement in profitability


Aliança Christens New Containership

Photo courtesy of Hamburg Süd  Group

Yesterday, Hamburg Süd subsidiary Aliança christened its containership Pedro Álvares Cabral during a ceremony held for customers at the port of Itapoá. The ship’s Sponsor is Elisabeth von Krüger de Freitas, the wife of Humberto Ramos de Freitas






 
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