East Coast Of Panama News

A record year for containership demolitions in 2016 has helped suppress total fleet growth close to the rate for demand. To repeat that feat the scrapping record will need to be smashed again, and again. There are multiple ways to measure the vitality of the container industry, from looking at port and trade volumes to carrier income and balance sheet statements. Another is to look at the average age of containership demolitions. Generally, the earlier that owners decide to cut short the life cycle of their steel assets the more downbeat they are of their future revenue earning potential. So far this year there have been three cases of ships being scrapped just before they reach their 10-year birthday (a record)…

The members of THE Alliance announced the details of the plan for their product starting from April 2017. THE Alliance plans to deploy a fleet of more than 240 modern ships in the Asia /Europe, North Atlantic and Trans-Pacific trade lanes including the Middle East and the Arabian Gulf/Red Sea. The start of THE Alliance as the most integrated liner shipping consortia is scheduled for April 2017 (subject to completion of all relevant regulatory requirements). “The product of THE Alliance is a milestone which will significantly improve the service offering for all shippers on the East West trade lanes“, said the member carriers Hapag-Lloyd, “K”Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Yang Ming in a statement.

About 10 Hanjin vessels effectively seized at China ports; Court says plans to start rehabilitations proceedings soon. Hanjin Shipping Co Ltd vessels have been seized at Chinese ports in the wake of the South Korean firm's collapse, further roiling the industry as freight rates jump and manufacturers scramble for alternatives. Seeking to contain the fallout, a South Korean court said it would soon begin proceedings to rehabilitate the carrier - which would allow Hanjin to take legal action in other countries to keep its ships and other assets from being seized. Rival Hyundai Merchant Marine will also deploy at least 13 of its ships to two routes exclusively serviced by Hanjin, while the South Korean government also plans to reach out to overseas carriers for help.

Ahead of the Panama Canal expansion two alliances have announced they will upsize some of their ships on the Asia-US East Coast route. How quickly will the others follow? The 9,400-teu Cosco containership Andronikos will make the first transit of the expanded Panama Canal on Sunday 26 June, and ahead of that two shipping alliances – CKHYE and G6 – have laid out their plans to upgrade the size of ships used on the Asia-US East Coast via Panama route. In November last year Container Insight Weekly noted that Drewry expected carriers to resist the urge to flood the trade with the biggest ships possible and that vessel upgrades will be incremental and in line with demand growth. That prediction seems to have come true based on the immediate plans that have been communicated thus far.

Today in U.S. 1884 - USS Bear left the New York Naval Shipyard as part of the Greely Relief Expedition. USS Thetis would join the mission a week later, with USS Alert also joining on this mission. The Greely Expedition was marooned in the Arctic. Greely and six other survivors were found at Cape Sabine, 23 June 1884. 1959 - Organization of American States asks U.S. 1981 - RCA delivers to the Navy, NOVA I, the 1st production unit of the improved navigational satellite. For more information about naval history, visit the Naval History and Heritage Command website at history.navy.mil.

In a visit to the Port of Savannah, Panama’s Minister for Canal Affairs Roberto Roy described progress on the canal expansion and heard the latest news on deepening the Savannah Harbor to 47 feet. “With the historic expansion of the Panama Canal nearing completion, I applaud Georgia for making the improvement of its port infrastructure a fiscal priority,” said Roy, who also serves as Panama Canal Board Chairman. The Record of Decision, signifying final federal approval for the Savannah Harbor Expansion Project, was issued in October 2012.

The Georgia Ports Authority (GPA) has received final approval for its harbor deepening, which will allow the Port of Savannah to more efficiently serve Post-Panamax vessels and lower shipping costs for containerized trade by $213 million a year. Assistant Secretary of the U.S. Army (Civil Works) Jo-Ellen Darcy issued the Record of Decision Oct. 26, approving the Savannah Harbor Expansion Project (SHEP). “The Record of Decision affirms that this is a project of national significance,” said GPA Executive Director Curtis Foltz. “It is a major milestone culminating what has been a 15-year effort.

The New World Alliance (TNWA) – APL Co. Pte Ltd (APL), Hyundai Merchant Marine (HMM) and Mitsui OSK Lines (MOL) - today announced the launch of a new Trans-Atlantic service connecting Europe and the UK with the US East Coast and Panama. The Americas Europe Express (AEE) service is TNWA's third dedicated Trans-Atlantic service. It offers multiple weekly sailings from major US and European ports, as well as competitive transit times from Latin America to North Europe via the trans-shipment hub in Panama. The Alliance will deploy high reefer capacity ships with an average effective capacity of 3,200 TEU. APL will operate three vessels, and HMM and MOL will operate one vessel each.

1778 - Continental Navy sloop Ranger captures HMS Drake 1862 - Battle of New Orleans; Union Navy under David Farragut runs past forts into Mississippi River 1884 - USS Thetis, Bear, and Alert sailed from New York to search for Greeley expedition lost in Arctic 1906- Ceremonies at Naval Academy commemorate John Paul Jones; President Theodore Roosevelt delivers speech 1917 - Destroyer squadron departs Boston for European service 1959 - Organization of American States asks U.S. to establish naval patrols off east coast of Panama to prevent invasion of Cuban forces 1974 - Naval forces begin minesweeping operations in the Suez Canal Zone 1981 - RCA delivers to the Navy, NOVA I, the 1st production unit of the improved navigational satellite. (Source: Navy News Service)

1778 - The Continental Navy sloop Ranger captures HMS Drake. 1862 - Battle of New Orleans; Union Navy under David Farragut runs past forts into Mississippi River. 1884 - USS Thetis, Bear and Alert sailed from New York to search for Greeley expedition lost in Arctic. 1906- Ceremonies at Naval Academy commemorate John Paul Jones; President Theodore Roosevelt delivers speech. 1917 - A destroyer squadron departs Boston for European service. 1959 - The Organization of American States asks the United States to establish naval patrols off the east coast of Panama to prevent invasion of Cuban forces. 1974 - Naval forces begin minesweeping operations in the Suez Canal Zone. 1981 - RCA delivers to the Navy, NOVA I, the 1st production unit of the improved navigational satellite.

APL, Hyundai Merchant Marine (HMM), Mitsui O.S.K. Lines (MOL) ¬¬– and CMA CGM announced additional winter capacity plans for the trade between Asia and the US East Coast via Panama Canal. Late last month, the New World Alliance carriers APL, HMM and MOL announced that they would be withdrawing more capacity to the US West Coast and earlier than in previous years in the face of an unprecedented rise in operating costs – particularly for fuel. The latest announcement will see APL, HMM, MOL and CMA CGM reduce capacity to the US East Coast by withdrawing some sailings in their ESX/SAX deployment. APL, HMM, MOL and CMA CGM confirm that…