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Container Equipment News

17 Aug 2020

Matson Promotes Ashton

Marc Ashton (Photo: Matson)

U.S.-based ocean carrier Matson announced it has promoted Marc Ashton to the role of Director, Equipment, Vehicle and Reefer Operations.Ashton will be responsible for planning and directing all container equipment positioning efforts, including container equipment fleet, equipment control, asset management, and inland logistics departments, throughout the Matson network. He will also manage Matson’s company-wide vehicle operations and all processes and systems related to automobiles…

07 Apr 2020

COVID-19 Impacts on Demurrage and Detention

© Sandra / Adobe Stock

What might not be so obvious in this COVID-19 environment, which we have grown to associate with shortages, is that counterintuitively there are issues beginning to appear dealing with the opposite situation. The Journal of Commerce has reported that “[t]he container shipping industry is marshaling a response to signs of a building import backlog as some retailers and manufacturers fail to pick up containers because warehouses are full or closed due to not being deemed essential…

23 Jul 2019

Smart Containers Transform Shipping

Smart devices have the potential to radically transform the utility and value of shipping container equipment assets.According to Drewry, Smart containers have increased in prominence in a very short space of time and the pace of adoption is expected to accelerate over the next five years.A container becomes “smart” when fitted with a telematics device that provides real-time tracking and monitoring, enabling operators to increase turn time of their container equipment and so utilization. It also allows beneficial cargo owners (BCOs) to understand the location and status of their cargo so that they can better control their supply chains.“There are a number of factors driving this market growth…

17 May 2019

Maersk Adds APM in Logistics Division

A.P. Moller - Maersk said it will integrate APM Terminals' Inland Services division into Maersk's Logistics and Services division beginning August, providing customers with seamless access to a wider range of logistics & services offerings."This is a next step for A.P. Moller - Maersk in the implementation of our strategy to offer end-to-end solutions to our customers," said a press release.The Inland Services portfolio is a network of inland terminals around the globe consisting of 36 business units with over 100 locations. By bringing together all operations skills and capabilities within logistics, it creates a base for growth and enables Maersk to excel in the execution within Logistics & Services products.“APM Terminals can fully focus on becoming a world-class port operator…

14 Dec 2018

Los Angeles APM Terminals Volume Up

APM Terminals set a new North American operations record this month with 27,846 TEUs handled on one vessel.This represents a complete discharge of the vessel for import cargo and a complete new load of export containers, in addition to empty containers needed back in Asia to balance the container equipment flow, said a press release.Steven Trombley, APM Terminals Pier 400 Los Angeles Managing Director said, “Our terminal operations team works closely with our customers to optimize their peak season needs to ensure the port productivity and yard, rail and gate capacity meet and exceed customer expectations.”The 15,500 TEU, E-class, Eleonora Maersk vessel normally sails in the Asia/Europe service…

08 Aug 2018

Seaborne Reefer Trade Continues to Expand: Drewry

Despite moderating perishable seaborne trade growth, continued modal shift will sustain expansion in the containerised reefer trade and so support freight rate development, according to Drewry’s latest Reefer Shipping Annual Review and Forecast 2018/19 report, by global shipping consultancy Drewry.Global seaborne reefer trade continues to expand, posting a gain of over 5% in 2017 to 124 million tonnes, a big improvement on trend growth over the past 10 years of 3.6% a year. Underpinning this progress was strong growth in banana, meat and fish trades.Drewry estimates that containerised reefer traffic expanded by 8% in 2017, outpacing the growth in overall seaborne reefer trade.

10 Jul 2018

Container Equipment Prices Put Pressure on Ship Leasing: Drewry

Container equipment rental rates and cash investment returns remain weak, despite last year’s recovery. But an earlier rise in container prices which lifted values to their highest level in five years will continue to put a dampener on returns, according to Drewry’s latest Container Census & Leasing annual review and forecast report, published this month. Long-term lease rates for standard dry equipment leapt by over 50% in 2017, having begun their recovery the year before as the Hanjin bankruptcy left large quantities of equipment impounded and therefore out of the market. But newbuild prices rose by a similar margin, limiting cash investment returns to around 9%.

30 Apr 2018

Container Equipment Market Surges Ahead: Drewry

The move towards container leasing and away from carrier ownership continues unabated and the leased fleet now has a clear majority over that owned by transport operators, according to the latest edition of the Container Census & Leasing and Equipment Insight published by global shipping consultancy Drewry. Leasing companies accounted for 55% of container purchases in 2017, which continues the trend seen for most of this decade. With the fleet of containers owned by transport operators growing by a mere 2.4%, the leased fleet added 6.7% and the share owned by lessors is now nearing 52%. “Drewry expects this trend to continue over the next few years,” said Drewry’s director of research products Martin Dixon.

26 Sep 2017

Container Lines Speed up Their Assault on Reefer Cargo

Container shipping lines are increasing their share of the seaborne reefer market and are forecast to accelerate their assault over the coming years, according to the latest edition of the Reefer Shipping Market Review and Forecast 2017/18 published by global shipping consultancy Drewry. In 2016, the estimated perishable reefer cargo split was 79% in reefer containerships and 21% in specialised reefers. By 2021 this modal split is forecast to have changed to nearer 85% and 15% in reefer containerships and specialised reefers respectively. One interesting development in 2017 saw specialised reefer operator Seatrade team-up with CMA CGM to provide a 13-vessel reefer container service offering a weekly sailing between Europe and Australasia.

30 Aug 2017

Container Equipment Leasing Rates Under Pressure

Leasing companies are tightening their stranglehold over container equipment ownership as ocean carriers cut back on new purchasing and sell older inventory for leaseback, Drewry's report said. But the lessors’ rapid expansion has come at a price as the combination of low borrowing costs and competitive pressures has had an adverse impact on lease rates and accompanying investment returns. Lease rates slumped to a new low in 2015 and although the improved market climate since has prompted some recovery, they remain well below the long-term average. The pressure on hire rates is not just confined to the dry sector, as reefer and tank leasing rates have suffered in a similar way.

23 Mar 2017

Crowley’s New STS Cranes Arrive in San Juan

Photo: Crowley

Three new ship-to-shore cranes that were constructed in Ireland were delivered to Crowley Puerto Rico Services’ Isla Grande Terminal in San Juan on Wednesday. The cranes are a key element of the $130 million Crowley is investing in infrastructure improvements to its Isla Grande Terminal, and their arrival marks the first time new, specialized gantry cranes have been received for operation in the San Juan Harbor in five decades. “With the delivery of these state-of-the-art cranes…

03 Jan 2017

HMM in New Alliance Deal

Hyundai Merchant Marine (HMM) said it has signed an agreement with intra-Asia trade carriers Heung-A Shipping and Sinokor Merchant Marine to form a container shipping alliance called the HMM + K2 consortium. The HMM + K2 consortium, which is slated to start operation in March after a formal contract signing next month, will cover Japan, China and South East/West Asia trades. The alliance will include vessel sharing, slot exchange and slot purchase agreements, as well as additional plans to bring in joint investment in port infrastructure and sharing of container equipment in the medium and long term. Under the agreement, HMM will fully access Heung-A and Sinokor’s Intra Asia networks with particularly focus on the Korea-Japan and Korea-China trades.

31 Aug 2016

Growth in the Leased Container Equipment Fleet to Slow

Following markedly slow growth of just 3.5% in 2015 due to decreased rental demand, the global leased container equipment operating fleet is forecast to increase by little more than 1% in 2016, according to the latest edition of the Container Leasing Industry Annual Report 2016, published by global shipping consultancy Drewry. By the end of 2015, leasing companies were again having to shift a sizeable factory stockpile, as well as contending with rental rates at an all-time low. New and used container prices had also fallen to their lowest in more than a decade because of weaker demand and a recent steep drop in the cost of steel and factory running costs.

25 Aug 2016

New Container Equipment Prices to Fall to Record Lows

Cheaper production and material costs as well as weaker demand has driven the price of new container equipment down to record lows and is forecast to fall  further during 2016, according to the latest edition of the Container Census report published by global shipping consultancy Drewry. The container equipment index price at the end of 2015 was $1,450 per CEU equivalent (or 20ft standard), down from $1,900 a year earlier. The average price for the year was $1,750, down 15% on 2014 and by the end of 2015 the index had fallen close to the all-time low of 2001-02. “Some of the recent price fall has resulted from the weakening state of the global economy and the decline in trade demand,” said Drewry’s lead analyst for container equipment Andrew Foxcroft.

10 May 2016

Container Equipment Prices Nosedive - Drewry

Prices for new dry freight containers declined to their lowest point since 2002 during first-quarter 2016 and are still going down, according to the latest edition of the Container Equipment Insight, published by global shipping consultancy Drewry. Average container equipment prices fell 15% through the first quarter, as the deteriorating outlook for trade growth impacted pricing. As a consequence of this and the fact that steel and other material costs are no longer in decline, Drewry estimates that the container manufacturing sector made a small net loss in the first quarter of 2016. Used dry freight container prices also declined further, to a level not seen since in almost a decade.

21 Jul 2015

Container Equipment Leasing Rates Hit Record Lows

Development of per diem rental rates and ex-factory prices for newbuild 20ft standard container placed on long-term operating lease (LTL), 2004-16 (Source: Drewry Maritime Research)

Container equipment rental rates came under renewed pressure in 2014 and by mid-2015 new dry freight pricing was at a 10-year low, while lease rates had fallen to an all-time low, according to the latest edition of the Container Leasing report published by global shipping consultancy Drewry. Similarly, used dry freight container prices have also reached a five-year low, largely in line with the decline in new equipment costs and also because of increased resale volumes. “The outlook…

02 Jul 2015

Container Equipment Costs at Record Low

Source: Drewry Maritime Research

Low material costs and stable demand has driven the price of new container equipment down to record lows where it is forecast to stay, according to the latest edition of the Container Census report published by global shipping consultancy Drewry. The container equipment index price hit a 10-year low in June 2015, falling below $1,750 per CEU equivalent (or 20ft standard). The index fell sharply in late 2012 before stabilizing at just above $2,000 per teu throughout much of 2013-14, but has declined sharply this year.

24 Feb 2015

Crowley Deploying New Container Equipment

         Photo courtesy of Crowley Maritime Corporation

Crowley Maritime Corporation’s liner services group is deploying an influx of new container equipment, including hundreds of chassis, ISO tanks and high-cube containers, for use in the company’s services between the U.S., Puerto Rico, the Caribbean and Central America, the company announced today. To date, 534 of 1,300 40-foot chassis have been received, with the remaining 766 scheduled to arrive in Jacksonville by April 1. Additionally, 240 new 20’ ISO tank containers have also been delivered, replacing 145 units that had served customers for over 30 years.

26 Feb 2015

Containership Becomes Largest to Sail the Thames

Munkebo Maersk (Photo: DP World)

The Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway, the U.K.’s newest deep-sea port hub. The 399-meter-long, 60-meter-wide, 195,000-ton Triple-E class vessel – equivalent in length to almost four football pitches and capable of carrying more than 18,300 TEUs – is one of the largest container vessels in the world, operating on Maersk’s new East-West Network. It was drawn alongside DP World London Gateway Port, adjacent to Europe’s largest logistics park, at 7:30 a.m.

25 Mar 2015

Lloyd's Launches 2015 Container Certification Scheme

Lloyd’s Register launched its 2015 Container Certification Scheme today to give a clear and concise set of rules to ensure offshore and onshore containers are safe and certified correctly. Aimed at both manufacturers and operators of equipment in the intermodal industry, the Lloyd’s Register Container Certification Scheme (LRCCS) gives industry the latest requirements for the design, inspection and certification for three main service areas of intermodal equipment: CSC* containers, offshore containers, and tanks for the transport of dangerous goods.

06 Aug 2014

Weak Financials Drive Container Leasing Sector - Drewry

The container leasing sector experienced another year of stellar growth in 2013 thanks to the continuing weakness of carrier financials, according to Drewry’s recently published Container Leasing report. And Drewry forecasts that this trend will continue. The leased container fleet (teu) expanded 7.3% in 2013, fast outpacing the 2% growth recorded by the fleet owned by transport operators, most of whom are shipping lines. This brought lessors’ share of global inventories to an eight-year high of 46%, which marked a 6 percentage point gain on 2009. “The leasing sector’s fleet growth has outpaced that of owner operators for each of the four years since the worldwide recession of 2009,” said Andrew Foxcroft, author of Drewry’s Container Leasing report.

25 Nov 2014

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the Northern Marianas Islands (CNMI) and Micronesia services by $225 for both westbound and eastbound containers, effective January 25, 2015. The increase will be filed with the Surface Transportation Board and the Federal Maritime Commission. The rate increase also applies to the Commonwealth of the Northern Marianas Islands, the Republic of Palau, the Federated States of Micronesia and the Republic of the Marshall Islands. There will be no adjustment made to the company's terminal handling charge (THC).

26 Nov 2014

Matson Raises 2015 Westbound Hawaii Box Rates

Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $225 per westbound container and $110 per eastbound container, effective January 4, 2015. The increase will be filed with the Surface Transportation Board. No adjustment will be made to the company's terminal handling charge (THC). Matson estimates that the rate adjustment will result in shipping costs rising by an average of 5.4% percent. "This rate increase will help offset rises in operating costs and support ongoing investments in our Hawaii service," said Dave Hoppes, senior vice president, ocean services.