Big Time Container Ship Re-deployment Plan Goes Awry

Press Release/Drewry Shipping Consultants
Thursday, June 13, 2013

Ocean carriers’ plans to get rid of surplus 8,000 teu vessels by dumping them into the Asia – East Coast of S. America tradelane appears to have seriously backfired.

The recent launching of MSC’s new Ipanema service in the middle of April, and the subsequent announcement of the deployment of much bigger 8,000 teu vessels by others, will result in a massive 33% increase in capacity between April and July, considers Drewry in its 'Container Insights Weeklly'.

Even before all of the plans have been implemented, they have triggered a rate war, with spot prices from Shanghai to Santos collapsing by 26% between April and May, down to $2,810/40ft (including THCs at both ends), according to Drewry’s Container Freight Rate Insight.

Anecdotal evidence indicates that since the middle of April, the decline was even higher, and rates were still dropping in the first week of June, indicating that no one wants to be muscled out of market share peacefully.


To readd more click here.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

VOS Sugar First Charter

The newest addition to Vroon’s fleet, subsea-support vessel (SSV) VOS Sugar, recently started work in the BARD Offshore 1 Offshore Wind Farm (OWF). The vessel

TAMRF Extends Research Vessel Charter

Overseas Drilling Ltd., a 100 percent owned subsidiary of Siem Offshore Inc., and Texas A&M Research Foundation (TAMRF) have agreed to extend the charter of the

BWTS Refit for Netherlands Naval Vessels

The Defense Material Organization has awarded three contracts to Goltens Worldwide’s Green Technologies business unit for the engineering and turnkey installation

Finance

Wärtsilä Donates Engine to Texas A&M University

Wärtsilä has donated an 8-cylinder Wärtsilä 20 engine and generating set, to the Marine Engineering Technology Department at Texas A&M University at Galveston.

Höegh LNG Turns to Profit in 1Q

Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015.

Fitch Warning on NordLB Shipping Reduction Plan

Norddeutsche Landesbank Girozentrale's (NORD/LB) strategy to reduce its shipping exposures by EUR4bn-6bn over the next three years makes sense, but will likely encounter high execution risks,

Container Ships

OOCL Renews VOD Training Contract

Videotel, producer and distributor of training videos, 3D animation, and e-Learning courses to the maritime market and part of KVH Industries, Inc., (Nasdaq: KVHI),

SOLAS Container Weight Requirements FAQ

With new rules regarding the declaration of the accurate gross mass of a packed containers due to enter force, the International Maritime Organization (IMO) answers

CMA CGM Proceeds with NOL Takeover after China Okay

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.0778 sec (13 req/sec)