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New Year

The New World Alliance to Reduce Ocean Capacity

The New World Alliance said it will temporarily reduce capacity on selected Trans-Pacific Trade services to coincide with Lunar New Year factory shutdowns in Asia.  The three container shipping lines in the alliance -- APL, Hyundai Merchant Marine (HMM) and Mitsui O.S.K. Lines (MOL) said the winter deployment program is expected to last six weeks; more if necessary.   "We'll review demand and capacity again well in advance of the peak shipping season," said APL President Eng Aik Meng.  "As conditions warrant, we'll re-introduce capacity."   Winter deployment programs are routine for The New World Alliance carriers and the Trans-Pacific Trade in general, where Asian exports slow significantly during the Lunar New Year holiday break.  Factory closures sharply curb the production of finished goods which are a staple of the trade.  Alliance members said Lunar New Year factory closures this year are expected to be longer than usual, perhaps up to three or four weeks.   Alliance carriers said they will reduce capacity during the period by selectively omitting sailings on the SAX, PSW, PCX and PCE services.  They said other services may be adjusted to ensure complete port coverage and that customers will be notified ahead of deployment changes.


Asia-Europe Trade May Grow Until February

Maersk Line believe demand for trade on its Asia- Europe route may grow until Lunar New Year in February. Imports into China have also helped increase demand as raw materials are shipped to Asia’s largest economy for final assembly while local consumers increase spending, Bloomberg learned from Tim Smith of Maersk Line in a Hong Kong television interview. A year-end surge in demand also prompted the container line, owned by A.P


Carnival Suffers Another Fire

Carnival Corp.’s spate of bad luck continued in the new year, as a fire reportedly broke out aboard the cruise ship Celebration Wednesday, leaving the vessel adrift in the Caribbean for hours without engine and main electrical power, according to owner Carnival Cruise Lines. None of the passengers or crew were injured by the fire, which began shortly after midnight in one of three auxiliary generators as the Celebration sailed about 100 miles northwest of Montego Bay, Jamaica, Carnival said


Container Freight Rates Gain

A short-lived revival in rates still means rich pickings for shippers coming into the transpacific contracting season, but beware the capacity crunch to come.   Shippers should not lose sleep over the recent, short-lived jump in spot rates, but ought instead focus on ways to mitigate the risk of another sudden capacity crunch later in the year, urges Drewry Maritime Research. Freight rates on east-west trades have been in the ascendency of late


Retail Imports Forecast: Up 4.8% in January

Containership at dock in port of Oakland (Katharine Sweeney)

2013 Estimated at 2.8 Percent Over 2012. Import volume at the nation’s major retail container ports is expected to grow 4.8 percent in January over the same month last year, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates. Estimates show 2013 up 2.8 percent over 2012. “Retailers are still assessing the holiday season, but they’re also looking ahead to see what will happen in the new year


Container Volumes Up 2.5% in Los Angeles

The Port of Los Angeles has released its January 2014 cargo volumes. January overall volumes increased 2.5 percent compared to January 2013. The increase is due in part to shippers moving cargo in advance of the Chinese New Year,  which this year fell on January 31. Container imports increased 6.7 percent, from 337,428 Twenty-Foot Equivalent Units (TEUs) in January 2013 to 360,037 TEUs in January 2014. Exports increased 1


An ISO Standards New Year’s Resolution:

Captain Katherine Sweeney

Objectives & Targets add up to “Saying What You Mean, Meaning what You Say and then, Proving it.”   As a maritime compliance auditor in the field, I’m often called upon to explain the ISO’s (International Standards Organization) approach to continual improvement which says a company shall establish, implement and maintain documented objectives and targets at each relevant function and level within the organization


ISS Offers Management of Pollution Response in China

David Young

Inchcape Shipping Services China launches pollution regulation intermediary service. Inchcape Shipping Services (ISS), the world’s leading maritime services provider, today announced the launch of an intermediary service for ships calling at ports in China.  The move is in response to new pollution prevention and control regulations introduced by Chinese regulators and the service is already fully operational.    


UK P&I Club: 7.5% Rate Increase

At its annual board meeting on 29 October 2012, the board of the UK P&I Club (the Club), one of the oldest shipping protection and indemnity insurance mutuals, agreed that the general increase for 2013 renewal will be 7.5 percent.    The premium rating increase is in addition to any increase in the cost of the International Group reinsurance premium for 2013 for the mutual members, which will be determined in the New Year.   


InterManager to Tackle Industry Challenges

InterManager President Gerardo Borromeo

Low freight rates and a challenging market are concerns for ship managers as they begin 2013.   A survey of members of InterManager, the international trade association for the ship and crew management industry, has identified the main concerns affecting the industry as it begins the New Year.   In addition to fears about how challenging market conditions impact on operating budgets, ship and crew managers are also concerned at the difficulties of finding and retaining quality


TGS reports net revenue of USD 222 mi for Q1 2014

TGS

TGS has reported net revenues of USD 222 million for the first quarter of 2014 a rise of 5% from USD 211 million in Q1 2013.Net late sales totaled USD 137 million, up 9% from USD 127 million in Q1 2013. Net pre-funding revenues rose to USD 74 million and increase of 33% from Q1 2013 - funding


Vard 2014 Order Book Bulging: Q1 2014 Report

Image credit Vard Holdings

Joint Singapore/Norway based offshore & specialised vessel designer and shipbuilder, Vard Holdings, has released its first quarter 2014 financial results, showing its order book value at a five-year high. Highlights Exceptionally high order intake of NOK 5


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


Brazilian Ports Pause for World Cup Matches

Marcelo of Brazil is challenged by Hector Herrera of Mexico (Photo courtesy of FIFA)

Football fever is so intense in Brazil, the host of the World Cup soccer tournament, that even the main shipping ports in the commodity-exporting powerhouse are shutting down when the national team plays. In Paranagua, Brazil's No. 2 soy exporting port


Torqeedo Powers Zero-Emission Electric Boat

Photo: Torqeedo

Team Scarab, in conjunction with Torqeedo Motors and Ruckmarine, is pleased to announce the launch of the KONA 17' SportRIB, the first zero-emission, all-electric sport boat. The Kona debuts at the Progressive Insurance San Francisco Boat Show, January 23-26 at Pier 48 in San Francisco, California


EMAS Wins Nearly $80m in Subsea Projects

EMAS announced that its Subsea Services division (EMAS AMC) has been awarded projects worth a total of approximately $80 million (USD), including options. The scope of these projects cover a large spectrum of subsea work, including the decommissioning and towage of an FPSO in Asia and the


SCI Simulator Offers One-on-one Training

Photo: SCI

What does a new year of training look like at SCI? With a new simulator in full operation, SCI helps individual mariners complete assessments previously only available in large class settings or in the real world when exact conditions could be met on the water.


Kopernicki joins BMT Group Board

Jan Kopernicki

BMT Group Ltd., an international design, engineering and risk management consultancy, has announced that Jan Kopernicki has joined the Board of Directors as a nonexecutive Director. Jan has extensive experience in the shipping industry, with his career at Shell spanning over 40 years


Latest Global Deep-Sea Shipbuilding Orders

COSCO (Zhoushan) Shipyard: Image courtesy of COSCO

China shipyards as usual again figure prominently in the weekly round-up of contracts placed in an active market for ocean shipping set out in the latest Clarkson Hellas S+P Weekly Bulletin as follows: Dry bulk carriers Sinotrans Shipping have signed contracts for two firm 78


Positive Trends Mark Start to Port Authority Year

Notable accomplishments in revenue generation, cargo throughput, professional performance and international recognition highlighted today's monthly meeting of the Port Commission of the Port of Houston Authority (PHA). Executive Director Roger Guenther


Port of LA Throughput Negatively Impacted by Chinese New Year

Port of Los Angeles container ship: Image courtesy of the Port

February 2014 cargo volumes in the Port of Los Angeles decreased 8.9 percent compared to the same month last year informs the Port in its latest report. The Port considers that the decrease is due in part to the Chinese New Year, which closed many factories in Asia for two to three weeks in


East-West Freight Rates Remain Down After Chinese New Year

Image courtesy of Drewry

Following three consecutive months of price rises, freight rates on the East-West trades declined in February, according to Drewry’s online Container Freight Rate Insight. Rates came under most pressure on the Asia-Europe trade, which weakened following a meteoric rise in the run-up to the


Long Beach Cargo Import Dips in February

Photo: Port of Long Beach

Import volume was down 2.7 percent, while exports were up 2.1 percent at the Port of Long Beach in February, compared to the same month last year. Overall cargo volume dipped 2.6 percent due to an 8.3 percent decline in empty containers. A total of 517


Rickmers Maritime Report Fair Sailing in 2013

Chairman (L) & CEO: Image Rickmers

In a letter to unitholders introducing its 2013 financial results, the chairman and the CEO of Rickmers Maritime, state that its commitment to long-term, fixed-rate container ship time charter agreements has provided insulation from the continued pressure on time charter rates


Port of LA March 2014 Container Volumes Surge

Container ship: Image courtesy of Port of LA

The Port of Los Angeles has released its March 2014 containerized cargo volume figures, showing that container imports surged 42 percent, from 231,397 TEUsin March 2013 to 327,497 TEUs in March 2014. Exports rose 21 percent, from 154,428 TEUs in March 2013 to 187,826 TEUs in March 2014.






 
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