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Tuesday, January 23, 2018

Container Ship News

Diana Containerships Sells Two Post-Panamax Container Vessels

Photo:  Diana Containerships Inc

Greece-based global shipping company Diana Containerships announced that it has entered into an agreement to sell the m/v March and the m/v Great, each a 2004 built containership, for an aggregate price of US$22.0 million to an unaffiliated third party. The Company expects the Vessels to be delivered to the buyer at the latest by March 30, 2018. The unaffiliated purchaser of the Vessels is the same party with which the Company entered into a previously announced agreement to sell up to seven vessels, subject to the purchaser arranging financing.

'K' Line takes Delivery of 14,000-TEU Containership

Milano Bridge (Photo: "K" Line)

Kawasaki Kisen Kaisha, Ltd., Tokyo, (“K” Line) has taken delivery a new 14,000-TEU containership, Milano Bridge, built at Hiroshima Shipyard of Imabari Shipbuilding Co., Ltd, Japan and handed over on January 18, 2018. This new ultra-large containership (ULCS) is the same as a series delivered in 2015 and is the first ship of the second generation. Milano Bridge will be deployed on the Asia-Mediterranean service (MED2) under THE-Alliance. “K” Line said it has five ULCSs scheduled for delivery this year, bringing the total to 10 units. No.

Navios Maritime Containers Acquires Boxship

File Image: Navios Maritime Containers

Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it has acquired the Navios Felicitas, a 2010-built, 4,360 TEU containership for a purchase price of USD 11.45 million. The vessel was delivered to Navios Containers’ fleet in December 2017. Navios Containers financed the acquisition of the vessel with cash on its balance sheet and $6.0 million of bank debt under one of its existing credit facilities. Following this acquisition, Navios Containers controls 21 vessels, totaling 88,820 TEU.

Global Ship Lease Eyes Acquisitions

Photo: Global Ship Lease

The London-based Global Ship Lease (GSL) said that it  is well-positioned as one of few publicly listed containership leasing companies to acquire attractive portfolios of ships, attract growth capital or find a complementary merger partner. The containership charter owner has engaged Evercore to act as financial advisor to assist in reviewing strategic alternatives focused on maximizing shareholder value. GSL has successfully refinanced of all of the its indebtedness in October 2017 and with a strengthening market backdrop.

First Containership Receives LR Cyber Notation

COSCO Aries (Photo: COSCO Shipping)

The newly built containership MV COSCO Shipping Aries, recently delivered to COSCO Shipping Lines, is the first ever containership to receive Lloyd’s Register’s (LR) cyber-enabled ship (CES) descriptive note “Cyber AL3 SECURE PERFORM” for its energy management system. The 20,000 TEU ship was built by Nantong COSCOS KHI Ship Engineering Co., Ltd (NACKS). “MV COSCO Shipping Aries is the first 20K TEU level ultra large containership built in Chinese shipyard owned by COSCO Shipping Container Lines.

Global Ship Lease Extends TC with CMA CGM

Photo: CMA CGM

Global Ship Lease, a containership charter owner, announced that it has agreed to an extension of its charter with CMA CGM for the GSL Tianjin, a 2005-built, 8,063 TEU containership. The vessel will be chartered for a period of eight to twelve months (at the charterer's option) at a fixed rate of $11,900 per day, commencing in direct continuation from its current charter on January 26, 2018. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to have secured this extension with CMA CGM for the continued employment of the GSL Tianjin.

Milaha Acquires its Largest Containership

Majd (Photo: Mike Page / Milaha)

Qatar-based maritime and logistics conglomerate Milaha said it has acquired its largest container vessel to date, Majd, a 3,768 TEU vessel. Majd was built by STX Shipbuilding Co. Ltd. in South Korea, and has a length overall of 246.87 meters and a deadweight of 44,985 metric tons. The new vessel will be one of the 17 container vessels that the group operates, and is part of the ongoing expansion of the group’s overall fleet. Milaha currently fully owns and operates a fleet of over 80 vessels…

First Ship Lease Trust Sells Containership Vessel Us$6.2 Mln

First Ship Lease Trust has sold its containership, FSL Busan, for a cash consideration of USD $6.2million.   The compnay will record a gain on disposal of about USD $0.75 million, in 1Q 2018.​  

Maersk, IBM to Launch Blockchain Joint Venture

(Photo: A.P. Moller-Maersk)

The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy. Success of the platform, which will be made available to the ocean shipping industry around mid-2018, depends on whether Maersk and IBM can convince shippers…

German Boxship Collides with Crane at Keelung Port

MV Hansa Meersburg (Current Name). Photo: Leonhardt and Blumberg

A German-flagged container ship Hansa Meersburg ran into a crane while berthing at Keelung Port, Taiwan resulting in the damage of containers and port infrastructure, CNA reported. The 2007-built freighter, operated by German-based Leonhardt and Blumberg hit and damaged a berth crane valued at NT$200 million (US$6.78 million) as it was sailing into the harbor. In addition to the damage sustained by the crane, a pier was also damaged, suffering a hole three meters wide and two meters deep.

Maersk joins New York Shipping Exchange

Photo: A.P. Moller - Maersk

Danish container shipping giant Maersk Line has followed in the footsteps of its counterparts CMA CGM and Hapag-Lloyd and joined the New York Shipping Exchange (NYSHEX) as its founding member. Along with Hapag Lloyd, CMA CGM, MOL, OOCL, and COSCO, Maersk Line will begin posting digital contract offers for the Transpacific Westbound trade on the exchange as early as March of this year. "This marks a significant milestone for us as we now have added six of the top global ocean carriers as members in the last nine months," says a statement from NYSHEX.

Containership Scrapping Maintains Record Pace

File photo: IMO

Containership demolition has reached an all time high, providing a positive surprise for the struggling container shipping sector. “The demolition activity in the last three months’ surprised BIMCO positively and it exceeded our initial expectation based on the appalling 2015 demolition activity,” said BIMCO’s Chief shipping analyst Peter Sand. “It is important that the demolition of excess capacity comes sooner rather than later, as there is still a huge delivery schedule hanging over the container shipping industry for the rest of this year and well into 2017-2018,” Sand said.

Ex-US Navy Officers Face Negligent Homicide Charges over Ship Collisions

Significant visible damage to USS John S. McCain (DDG 56) following a collision with the merchant vessel Alnic MC while underway east of the Straits of Malacca and Singapore on Aug. 21. (U.S. Navy photo by Madailein Abbott)

The commanding officers of two U.S. Navy destroyers involved in deadly collisions last year in the Pacific Ocean face courts-martial and military criminal charges including negligent homicide, the U.S. Navy said in a statement on Tuesday. Filing charges against the officers marks the Navy’s latest effort to address the problems that led to collisions involving its warships in Asia, in which 17 sailors were killed. The Navy has already dismissed several senior officers, including the commander of the Seventh Fleet, as a result of the collisions.

Korean Yard to Build World's Largest Container Ship for CSCL

Shipyard workers: File picture

Hyundai Heavy Industries (HHI) say they have begun building the first of five 19,000 TEU container ships for China Shipping Container Lines (Hong Kong). HHI explain that the shipowner upgraded the original order for five 18,400 TEU containerships to ones capable of delivering 600 more containers, and thus these new ships will be the largest container ships ever built they claim. The new container ships will feature 77,200 bhp electronically-controlled main engines which will maximize fuel efficiency…

FSL Trust Sells Vessel to Trim Debt

Photo: FSL Trust

FSL Trust Management, as trusteemanager of First Ship Lease Trust (FSL Trust), announces that the Trust has sold its chemical tanker, FSL Tokyo, for a cash consideration of US$13.8 million. FSL Tokyo is a 2006, Japanese-built, 20,938 DWT chemical tanker that has been deployed in the spot market. The net proceeds from this Disposal will be applied in full to the outstanding loan facility in 1Q2018. FSL Trust will record a related impairment charge of approximately US$9.0 million in 4Q2017.

Hong Kong Ready for Mega Containerships

The Hong Kong Marine Department announced that the port is ready to handle the next generation of container vessels. Hong Kong port is capable of receiving the next generation of container vessels and Kwai Chung's alongside water depths are currently adequate to meet navigational requirements of large containerships, a spokesman for the Marine Department said. The assessment was reflected in a study, “Yesterday Evening and Tomorrow Morning of Container Fleet” conducted by the Marine Department earlier. The study confirms that Kwai Chung is able to serve not only large containerships currently in service, but also those expected to be in operation within the next few years.

North America Dominates Global Container Shipping Market

Pic by China Shipping Container Lines

In terms of geography, North America dominates the global container shipping market . This is due to improved transportation services in this region, says a report from Persistence Market Research. The U.S. represents the largest market for container shipping followed by Canada in North America. In Europe, Germany, the U.K., Spain, Italy, and France hold the major share of the container shipping market. Asia is expected to witness high growth rates in the next five years, as many companies are constructing manufacturing facilities in this region.

MHI Kobe Shipyard’s Receives Orders

Mitsubishi Heavy Industries, Ltd. (MHI) has received consecutive orders for large size container ships from the Evergreen Group of Taiwan, one of the leading container transportation operators in the world. Since 1992, MHI has received orders for 38 container ships from Evergreen without a break, of which 32 ships have either been built, or are to be built at MHI’s Kobe Shipyard and Machinery Works, and six at Nagasaki Shipyard and Machinery Works. MHI Kobe has marked the launching of the 30th container ship for Evergreen on February 5, and christened as Hatsu Excel. Among Japanese shipbuilding companies, only MHI has recorded consecutive orders for 38 large size container ships from one ship owner.

Containerships Rebrands South Baltic Services and Agencies

Containerships is rebranding the South Baltic services and agencies built up under the Kursiu Linija name. From February 1, 2007 all Kursiu Linija services will be operated under the Containerships name. Containerships will also have its own agents in Lithuania and Latvia, under the names of Containerships Lithuania and Containerships Latvia. These replace UAB Arijus and Kursiu Linija Latvia. The Finland, Russia, Poland, Sweden service has also been enhanced from January 30, when the Carina made its first call in Klaipeda. She will add in Klaipeda into her rotation, which will then be: Helsinki - St. Petersburg - Klaipeda - Gdansk - Sodertalje.

Ocean Network Express Completes Merger Approvals

Graphics: Ocean Network Express

South Africa’s competition watchdog becomes final signatory allowing Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL ),  Nippon Yusen Kabushiki Kaisha (NYK ) merger, so that Joint venture (JV) can start operations on April 1. "K Line, MOL and NYK have  announced that their new joint venture company, Ocean Network Express Pte. Ltd., established in July 2017, has received all necessary merger approvals from local competition authorities in regions and countries where such approvals are required for the launch of service by the newly established joint venture company…

Shipbuilding Company to Stay Busy Until 2012

Taiwan's CSBC has received orders for 11 container ships, which boosts CSBC's total orders to 67 ships, enough to keep CSBC busy until 2012, the company said on Tuesday. On Monday, CSBC signed a contract to build seven container ships for Taiwan's Yangming Marine, CSBC President Fan Kuang-nan told Deutsche Presse-Agentur dpa. The order, worth 800m, is for five 8,240-TEU container ships and two 6,600-TEU container ships, to be delivered before 2012. The Yangming order comes at the heels of a European shipping company's order for four container ships. CSBC president Huang signed the contract in Switzerland last week. It includes a firm order for four 1,700-TEU container ships worth $250m, with the option for two more. Source: Earth Times

ClassNK: Amendments to Rules of Container Carriers

PRESS RELEASE --  Classification society ClassNK (Chairman and President: Noboru Ueda) announced that it released amendments to its Rules and Guidance for the Survey and Construction of Steel Ships on 25 December 2015, including structural strength requirements of container carriers. In response to a large container ship casualty in June 2013, ClassNK established The Investigative Panel on Large Container Ship Safety, which comprised of shipbuilders, shipping companies, and people with relevant knowledge and experience, to investigate the possibility of casualty occurrence and the structural safety of large container carriers. The results…

Third 14,000 TEU Container Joins Seaspan

Image: Seaspan Corporation

Hong Kong-based owner and operator of containerships Seaspan Corporation has taken delivery of a 14,000 TEU containership, the YM Winner. The new ship, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan’s third 14,000 TEU SAVER design containership and fourth delivery in 2015. The YM Winner will commence a ten-year, fixed-rate time charter with Yang Ming Marine Transport Corp. The ship is the third of a total of eight 14000 TEU SAVER design vessels to be chartered by Seaspan to Yang Ming. The delivery of the YM Winner expands the Company's operating fleet to 81 vessels.

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