Containershipping Takes a Nosedive

Friday, July 29, 2011

Plunging rates for chartering container vessels that carry consumer goods means a slowdown and losses for shipping lines in what is traditionally their busiest time of the year, according to a report on Bloomberg.com.
As reported earlier today on MarineLink.com, MOL has revised its FY2011 downward, projecting a revenue drop of 6.3% from previous guidance.
According to the Bloomberg report, fees for hiring vessels have fallen 9.3 percent since the end of April, citing the Howe Robinson Container Index. Last year, the index surged 56 percent in the period, as lines added ships on demand from U.S. and European retailers restocking for the back-to-school and holiday shopping periods.
Lines have also delayed the introduction of peak-season surcharges, and combined inbound container traffic at Los Angeles and Long Beach, the two busiest U.S. ports, dropped 4.6 percent last month, according to the Bloomberg report.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

MN 100: Alternative Marine Technologies LLC

62 Southfield Road, Suite 214 Stamford CT. 06902 Website: www.alternativemarinetech.com E-Mail: rkunkel4@gmail.com President / CEO: Robert Kunkel Number of

Statoil: New Compressor Means Heightened Production

The new compressor in operation on the Kvitebjørn field in the North Sea from 17 September will increase production there by 220 million barrels of oil equivalent

India's Coal Imports Causing Port Congestion

Congestion at Paradip expected to ease in a week if rains stop; higher-than-usual congestion at some other ports too. Indian power and steel companies are importing

Container Ships

Specialised Reefer Container Operators can Thrive: DMR

Despite growing competition from container lines, specialised reefer operators can still thrive, according to Drewry’s latest Reefer Shipping Market Annual Review & Forecast,

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

South Carolina Ports Container Volume Up by 13%

SC Ports Authority reported container volumes up 13 percent fiscal year to date, a strong start to the first two months of the fiscal calendar. The SCPA handled 163,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1553 sec (6 req/sec)