Containerships News

20 Nov 2019

Fairway Dredging Project Remains on Track

Image: © WSV

Port of Hamburg is continuing its dredging projects on the Elbe River as per plan. The second hopper dredger named Bonny River has been conducting dredging operations on the federal stretch and taking the spoil to the UWA - underwater dredged material disposal site at Medemrinne, from October.Built in 2018, the ‘Bonny River’ has a hold capacity of over 16,000 cubic meters; consequently having a highly efficient performance level.The holding area near Brunsbüttel and the widening work on the WSV - federal waterways and shipping stretch are finished.

18 Nov 2019

Euroseas Acquires Four Containerships

Image: Euroseas

Greece-based provider of seaborne transportation for containerized cargoes Euroseas  announced that it has entered into agreements to acquire four 4,253 teu containerships built in South Korea, three in 2009 and one in 2008.The owner and operator of container carrier vessels said in a press release that the vessels are being acquired from companies controlled by Synergy Holdings Limited for a total consideration of approximately $40 million.The acquisition will be financed by bank debt…

14 Nov 2019

Seaspan Buys Fleet of 6 Containerships

Image: Seaspan Corporation

Hong Kong-headquartered Seaspan Corporation, a major player in independent containership management and ownership, has agreed to acquire a fleet of six containerships for $380 million in cash.The independent containership lessor said that the purchase of the acquired vessels is expected to be financed from additional borrowings as well as cash on hand.The closing of the acquisition is expected to occur in December 2019, and is subject to customary closing conditions. Upon closing…

14 Nov 2019

Yang Ming Sees Weaker Demand

File Image: Yang Ming Marine Transport Corporation

Taiwanese ocean shipping company Yang Ming Marine Transport Corporation takes a hit with a net loss of about USD 42 million for the third quarter and sees signs of "weaker demand" in the container market.Yang Ming said that according to analyst firm Alphaliner’s latest projections, annual capacity growth is forecast at 3.7% and global throughput growth for 2019 is estimated at only 2.5%, which suggests a softer market demand than was previously expected.Meanwhile, the container shipping market remains vulnerable to trade uncertainties and geopolitical tensions.

08 Nov 2019

S&P Upgrades GSL Ratings

Pic: Global Ship Lease

Global Ship Lease (GSL), a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships, said that  S&P Global Ratings has raised its long-term issuer credit rating.According to the London-headquartered company, its  first priority senior secured notes to B+ from B on the basis of new charters at favorable rates, extended debt maturities, rebalancing supply and demand conditions, and an improved leverage profile.Ian Webber, Chief Executive Officer of Global Ship Lease…

01 Nov 2019

Polymer Pioneer Receives Engineering's Highest Accolade

George A. (Sandy) Thomson (Photo: Thordon Bearings)

On October 31st, 2019, George A. (Sandy) Thomson, the founder of Thordon Bearings and a pioneer in the development of advanced polymer materials, was presented with the 2019 Elmer A. Sperry Award in recognition of “leading the innovation in water-lubricated propeller shaft bearings” in marine transportation through the use of polymeric compounds.The award was presented to Mr. Thomson at the SNAME Maritime Convention, in Tacoma, USA, by the Chairman of the Board of the Institute of Marine Engineering, Science and Technology (IMarEST), Mr.

29 Oct 2019

Boom in Container Shipping: VesselsValue

Graph by VesselsValue

The Containership market has been showing some significant gains across both earnings and values, particularly in the Post Panamax and New Panamax segments, says VesselsValue.The US China trade war has had a negative impact on vessel demand. In terms of values, it’s been very much a split market, with larger container vessels significantly outperforming the smaller types.The best demand and supply fundamentals in the Containership market are found at Post Panamax and above sizes.The Panamax sector is somewhat of a mixed bag.

28 Oct 2019

Hamburg, India Sea Trade Up by 17%

Photo: © HHM / Dietmar Hasenpusch

In the 2019 first half, 106,000 TEU - 20-ft standard containers - were handled in Hamburg on direct services with Indian ports, a gain of 17 percent. This brought India up into tenth place in Hamburg’s ranking of its trading partners for container transport.With Hapag Lloyd and its partner shipowners ONE, YML and COSCO offering an additional weekly sailing from Hamburg on the IEX - South-East India–Europe Express service from November onwards, the prospects for further growth are good.Ten liner services link the Port of Hamburg with India.

24 Oct 2019

Optimarin Inks 30 BWTS Deal with Asiatic Lloyd

Logo: Optimarin

Optimarin, the ballast water treatment (BWT) specialist, has reported a year-on-year increase in sales of more than 100% for Q3, with order intake at an all-time high. The growth, consolidating the trend seen in Q2, comes on the back of a number of new fleet agreements with leading owners and operators, of which Singapore’s Asiatic Lloyd Shipmanagement LLP is the latest signing. “September’s IMO D2 deadline for BWT compliance has created, quite rightly, a sense of urgency in the market…

23 Oct 2019

Costamare Charters 14 Vessels in Q3

Pic: Costamare

Costamare, owners and providers of containerships for charter, said that it has chartered in total 14 vessels over the quarter ended September 30, 2019.According to Gregory Zikos, Chief Financial Officer of the Marshall Islands corporation, during the third quarter of the year the company delivered profitable results.As was the case in the previous quarter, net income and earnings per share more than doubled, boosted by increased charter rates and the addition of new ships, he…

18 Oct 2019

Total’s First LNG Bunker Vessel Launched

Photo: Total

Total said its first large liquefied natural gas (LNG) bunker vessel has been launched, following the signature of a long-term charter contract between Total and Mitsui O.S.K Lines (MOL) in February 2018.After delivery in 2020, the bunker vessel will operate in Northern Europe, where it will supply LNG to commercial vessels, including 300,000 tons per year for CMA CGM’s nine ultra-large newbuild containerships in Europe-Asia trade, for a period of at least 10 years.The LNG bunker…

18 Oct 2019

Boxship Fires: Time for Action, says IUMI

Helle Hammer, IUMI Policy Forum Chair

This year has already seen an alarming number of container ship fires including Yantian Express, APL Vancouver, Grande America, E.R. Kobe and KMTC Hong Kong.The escalation is of growing concern to IUMI (International Union of Marine Insurance) who used a recent forum to call for an urgent improvement to onboard firefighting systems.At a conference in Arendal, Norway, organised by marine insurer and P&I Club, Gard, and attended by IMO, flag states, shipowners, salvors, class, and insurers…

03 Sep 2019

SMM 2020 Publishes Maritime Industry Report

File Image: SMM

“Driving the maritime transition”: In times of the global climate debate and the digital transformation, SMM 2020 will once again be the focal point for decision-makers in the maritime industry.Topics that are currently high on the industry's agenda are highlighted in the new issue of the SMM Maritime Industry Report: Shipping, shipbuilding and supplier companies are especially interested in alternative propulsion technologies and attractive niche markets.The year 2020 marks a major turning point in international shipping: On January 1…

16 Aug 2019

Port of Hamburg Reports Strong Growth in H1

Image © HHM / Annette Krüger

Germany’s largest universal port Port of Hamburg remains on a growth course, achieving a distinct 4.1% advance to 69.4 million tons in seaborne cargo handling in the first half of 2019."Especially good growth trend in the general cargo segment, up 6.1 percent at 48.4 million tons, was the main contributor to the excellent figures for total and container handling," said a press release from the third-busiest port in Europe.The total for bulk cargo handling was just 0.3 percent…

30 Sep 2019

Euroseas Charters Akinada Bridge

Image: Euroseas Ltd.

Euroseas, a shipping company that was founded about a century ago, announced that  its container vessel, M/V Akinada Bridge has entered into a charter contract of minimum duration of ten months and maximum duration of thirteen months at a daily rate of $16,500.The owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes said that the charter will commence upon completion of the vessel’s special survey and drydocking and…

17 Sep 2019

Evergreen Orders Ten Ships

Image: Evergreen

Taiwanese shipping line Evergreen has confirmed its plans to build a total of ten 23,000 TEU containerships.According to a stock exchange filing, the new vessels would be built at three shipyards  in South Korea and China.According to the reports from the South China Morning Post, the enormous order will cost Evergreen anywhere between US$1.4 billion and US$1.6 billion. It is estimated that each vessel will cost between $140 million and $160 million.The new vessels could see Evergreen become the sixth biggest carrier line in the world…

08 Oct 2019

SHI to Build Six Giant Box Ships for Evergreen

Pic: Samsung Heavy Industries

South Korean  shipbuilding giant Samsung Heavy Industries (SHI) has signed shipbuilding deals for Taiwanese shipping line Evergreen’s latest ultra-large containerships, valued at a total of USD 920 million.SHI said that  the order was placed for the construction of six of the world’s largest container ships, world’s largest smart, Eco-friendly mega-ships, with a capacity of 23,000 TEUs, by May 2022. SHI said these newbuildings will be 400 m long, 61.5 m wide, 33.2 m high. Size-wise…

20 Sep 2019

Global Ship Lease Bags Refinancing Deal

Pic: Global Ship Lease

Global Ship Lease (GSL), UK-based holding company and containership charter owner, has now settled a five-year refinancing of its debt.According to the container ship owner, the new syndicated $268m credit facility is signed with a number of commercial lenders including Credit Agricole Corporate and Investment Bank, ABN AMRO Bank, CIT Bank, Hellenic Bank and Siemens Financial Services.GSL expects to draw down the first tranche of the New Senior Loan, in full, of $230 million shortly…

25 Sep 2019

World's Largest LNG-powered Containership Launched

The 400-meter-long, 23,000-TEU CMA CGM Jacques Saadé has been launched at Shanghai Jiangnan-Changxing Shipyard. It will be the world's largest containership to run on LNG fuel. (Photo: CMA CGM)

The CMA CGM Group has launched its first new vessel in a series of nine liquefied natural gas (LNG) powered ultra large containerships at the Shanghai Jiangnan-Changxing Shipyard, the France-based shipping and logistics company announced on Wednesday.At 23,000-TEU capacity, the CMA CGM Jacques Saadé and its eight French-flagged sisterships will be the world’s largest containerships to run on LNG propulsion.“With the launching of the first 23,000-TEU ship powered by liquefied natural gas…

27 Sep 2019

HMM, DSME Join Forces for Smart-ship Tech

Image: HMM

South Korea’s container shipping giant Hyundai Merchant Marine (HMM) and compatriot shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) have joined forces on the research, development and innovation in the field of smart ship technologies.Under a Memorandum of Understanding, the parties would conduct research on real-time service system based on IoT (Internet of Things), design on-shore platforms for optimized fleet operation, develop automated warehousing systems for ship materials and development economic navigation solutions.HMM plans to promote the innovation of smart ship techno

05 Sep 2019

MacGregor Cargo System for World's Largest Boxship

MSC Gülsün (Photo courtesy of MacGregor)

MacGregor, part of Cargotec, has designed the cargo system for the world’s largest containership, MSC Gülsün, which was delivered in July 2019 by South Korea’s Samsung Heavy Industries. She is 400 m long, 61.5 m wide and is the first in a series of 11 ultra-large containerships with a capacity of more than 23,000 TEU. Six of the vessels are being built by Samsung Heavy Industries, and the other five by Daewoo Shipbuilding & Marine Engineering.The system was developed in close collaboration with MSC from an early stage of the project.

09 Sep 2019

MacGregor Develops Cargo System for MSC Boxship

MacGregor has built a new cargo system for one of the world’s largest container ships, the MSC Gülsün. (Photo © MSC Mediterranean Shipping Company SA)

Cargotec company MacGregor has developed a new cargo system for one of the world’s largest container ships, the MSC Gülsün.The ship was built by South Korean company Samsung Heavy Industries (SHI) and delivered in July of this year, having a capacity of more than 23,000 TEU, a length of 400 meters and width of 61.5 meters, and is the first of 11 ultra-large containerships MSC has on order, six of which are being supplied by SHI. Daewoo Shipbuilding & Marine Engineering will construct…

10 Sep 2019

Seaspan Buys 9600 TEU Boxship

Hong Kong-headquartered containership management and ownership company Seaspan Corporation announced that it has purchased a 2010-built 9600 TEU containership and entered into a fixed rate time charter agreement for the vessel with Ocean Network Express (ONE).The time charter will be for a term of 36 months with an option for up to an additional four months, said the charter owner and operator of containerships.Seaspan expects to take delivery of the vessel by the end of April 2020, said a statement.Upon delivery of the vessel, Seaspan's fleet will expand to 113 vessels. Seaspan's operating fleet has now a total capacity of more than 900…

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

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