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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Drop in Cocoa Bean Size Worries Ivorian Exporters

Dry weather in top cocoa grower Ivory Coast has caused a sharp drop in bean size and will delay the start of the April-to-September mid-crop by nearly two months,

Wärtsilä, CME Offer ‘Scrubber Finance’

Funding concept promotes installation of scrubber systems by offering financing to shipowners, with returns taken from fuel price spread   In a move intended

Statoil: Johan Castberg, Snorre 2040 Timelines Changed

The licensees in the Johan Castberg and Snorre 2040 licences have decided to spend more time on the projects. “Castberg and Snorre 2040 are two major and important projects in our portfolio,

Container Ships

IACS Comments on MOL Comfort Report

The International Association of Classifications Societies (IACS) informs it will study the final report issued in Japan by the Committee on Large Container Ship Safety (CLCSS),

Are Megaships Game Changers?

Bragging rights for the world’s largest container ship have changed hands four times in as many months and keep on shifting again, says a report in the Bloomberg.

Port of San Pedro Seeks to Fund Upgrades with European Roadshow

Ivory Coast's second largest port of San Pedro will hold a roadshow in France and Britain next month as it seeks to raise 180 billion CFA francs ($300 million) to fund upgrades,

 
 
Maritime Contracts Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Repair Sonar 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: 0.0944 sec (11 req/sec)