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

Contracts

UK Navy Chooses Effer Crane Again

Cranes manufacturer Effer informs its marine crane has recently been installed aboard the U.K. Royal Navy’s patrol vessel HMS Mersey.   The new 5s 275M crane,

Fire-stricken Icebreaker Overhauled

SENER concludes the Almirante Irizar icebreaker engineering works for re-outfit and overhaul   SENER reports it has completed the engineering works relating to

Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated

Finance

Substantial Demand Underscores Need for TIGER Grants

U.S. Transportation Secretary Anthony Foxx has announced that applications to the U.S. Department of Transportation for its seventh round of Transportation Investment

Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated

Intelsat Records $598 mln Q2 Revenue

Satellite services provider Intelsat S.A. has reported total revenue of $598.1 million and net income attributable to Intelsat S.A. of $60.2 million, or $0.47 per common share on a diluted basis,

Container Ships

Hapag-Lloyd Names Haeser Next CCO

Container shipping line Hapag-Lloyd AG’s supervisory board has appointed Thorsten Haeser as a new executive board member in charge of Hapag-Lloyd’s global sales

Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated

Matson Settles with Hawaii Settle on Molasses Incident

Pacific cargo shipper Matson, Inc. informs that a settlement has been reached with the State of Hawaii to resolve all civil, criminal and administrative claims

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1372 sec (7 req/sec)