New Dry-Freight Box Prices on the Rise
Prices for new dry freight containers increased in the opening months of 2014 for the first time in two years, observes Drewry's latest 'Container Leasing and Container Census'. Standard box prices declined gradually throughout 2013, falling by late in the year to their lowest point since 2009, and they have so far barely managed to recover 10% by April 2014. They presently stand at much the same level as one year ago. “It is too early to say whether the equipment pricing trend as truly reversed…
Box Prices Rise for the First Time in 2 Years
Drewry’s latest Container Equipment Insight, exclusive to subscribers of Drewry’s Container Leasing and Container Census reports, saw prices for new dry freight containers increase in the opening months of 2014 for the first time in two years. Standard box prices declined gradually throughout 2013, falling by late in the year to their lowest point since 2009, and they have so far barely managed to recover 10% by April 2014. They presently stand at much the same level as one year ago.
OIG Will Conduct Survey of Cargo Container Safety
The Department of Transportation Office of Inspector General (OIG) has issued a notification to the U.S. Coast Guard that the OIG is initiating a survey of cargo container safety and security at U.S. seaports. The objective of the survey is to determine whether the Coast Guard's container inspection program (CIP) adequately ensures the safety and security of hazardous material freight containers shipped through U.S. seaports. Source: HK Law
Fifth Consecutive Record Year for Antwerp
The port of Antwerp has achieved a record freight volume for the fifth straight year in a row. In 2017 the port handled 223,606,610 tonnes of freight, an increase of 4.4% compared with the previous year. Practically all sectors turned in an excellent performance: the container volume expanded in tonnage by 4.3% (123 million tonnes), liquid bulk such as oil derivatives by 5.7% (73.1 million tonnes), and conventional breakbulk such as steel by 4.8% (10.3 million tonnes), while ro/ro completed the growth list with 10.5% (5.1 million tonnes).
Seafarer Shore Leave Gets Extra Protection
Seafarers' rights to shore leave have been strengthened through amendments which enter into force globally on 1 January 2018, under the revised treaty which aims to achieve the smooth transit in ports of ships, cargo and passengers. The amendments to the Convention on Facilitation of International Maritime Traffic (FAL Convention) also bring in a new requirement for national governments to introduce electronic information exchange, including electronic data interchange (EDI), to transmit information related to maritime transport.
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.
CHCP To Test E-Seals
The Cargo Handling Cooperative Project (CHCP) has initiated a major project, testing and evaluating e-seal technologies for intermodal freight containers. CHCP is a partnership between the U.S. Maritime Administration and private industry. The project will be conducted through such initiatives as Operation Safe Commerce, the Transportation Security Administration's Port Security Grants Program, and security initiatives begun by U.S. Customs. Electronic seals have been put forward as a way to address the security challenges presented by intermodal freight containers. However, they have not yet been applied on a wide scale basis in commercial applications, and any new equipment requirement must be based on a thorough, objective examination of the technology.
Volumes Up at Ports of Stockholm
All Ports of Stockholm freight segments increased during the first three quarters of the year in comparison to the same period of 2016. More and more goods are being transported by sea, directly to the growing Stockholm region. Over the first nine months of 2017 freight volumes increased substantially at Ports of Stockholm. This rise can be seen across all segments; ferry freight, containers and bulk cargo. “Freight volumes have increased considerably at all Ports of Stockholm ports. The trend is obvious.
Containership Catches Fire at Manila Port
The Marshall Islands-flagged containership MV Cape Moreton caught fire while berthed at the Manila International Container Terminal (MICT)in Tondo, in the Philippines on Saturday. Reports from the Philippine Coast Guard (PCG) said smoke was first seen billowing from freight containers onboard MV Cape Moreton around 9:15 a.m. Photos from the scene show thick smoke billowing from the cargo area as firefighters battled the blaze. The PCG said around 20 fire trucks of the Bureau of Fire Protection (BFP) were sent to put out the flames…
Contargo Rolls out New Service from Rotterdam and Basel
Contargo AG has launched a new rail shuttle service to the German town of Weil am Rhein on the Swiss border. This creates a direct connection between the port of Rotterdam and the important industrial areas around Basel. Three times a week, the container train travels from the DUSS Terminal in Weil am Rhein (Tuesdays, Thursdays and Saturdays) to Rotterdam and vice versa (Mondays, Wednesdays and Fridays) in a mere 18 hours. In Rotterdam the shuttle will stop at the CTT Pernis Terminal.
Human Smuggling Operation Uncovered on West Coast
There may be links between the case of 36 illegal Chinese immigrants found on a container ship here on Tuesday and a similar human smuggling operation uncovered last week in Long Beach, California, Canadian officials said. A Canadian Customs official said it was "highly likely" the two smuggling attempts were connected, but police said they had not confirmed the same smugglers were involved. Both attempts involved hiding the human cargo in squalid shipping containers designed for freight. The containers in which the migrants were found in Vancouver were bound for Long Beach. Canadian immigration officials have begun interviewing the 36 stowaways…
Container Equipment Leasing Rates Hit Record Lows
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…
Radiance Shipping Purchases RoLo Cargo Vessel
Radiance Shipping Line, Inc., a newly formed shipping and transportation logistics company based in Palmetto, Florida, is proud to announce the purchase of the ROLO LUZ B. This roll-on, roll off / load on, load off cargo vessel has 740 lane meters of capacity, enabling the transportation of up to 50 freight containers or a combination of freight and vehicles, as well as many other types of cargo. Additionally, the vessel will have the capacity for an additional 132 containers (Lo-Lo). The LUZ B will also have a minimum of 50 refrigeration spaces, further enabling the ship to maximize capacity. vehicles, rolling stock, heavy machinery, agriculture equipment, refrigeration containers, trailers, rail vans and pallets. Additional details regarding cargo capacity are available upon request.
FIATA Still All at Sea on Container Weight
THE International Federation of Freight Forwarders' Associations (FIATA) has called for enhanced communication from container shipping lines ahead of the deadline by which new IMO regulations requiring verification of a freight container’s gross mass become mandatory. The non-governmental organisation, which represents an industry covering approximately 40,000 forwarding and logistics companies is calling on shipping lines to provide greater clarity on how they wish to receive…
Maersk, IBM to Launch Blockchain Joint Venture
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…
Benchmarking Against Peers Upheld Among BCOs
International transport and logistics executives are increasingly benchmarking their companies’ costs and supplier terms in ocean transport contracts, according to data gathered by Drewry Supply Chain Advisors. In the past 6 months, the ocean transport spend under carrier contracts benchmarked by Beneficial Cargo Owners via the Drewry Benchmarking Club global initiative increased by 50%, to $2.2 billion; the number of benchmarked routes rose by 81% and the volume of benchmarked dry container teu jumped by 67%.
Container Inspection Standards to be Harmonized
In a significant breakthrough for the container shipping business, the two criteria currently used when inspecting containers during the interchange process between operators and leasing companies are now to be harmonised. Until now, there have been two different interchange inspection standards: the “IICL-5” criteria (managed by the Institute of International Container Lessors); and the “Common Interchange Criteria”, administered by the CIC Group of leasing companies, comprising five of the world’s leading container lessors (Triton Container…
COA Appoint Panocean V-P to Board
The Container Owners Association (COA) appoints O. I. Kwon, Senior V-P, Container Business Management Division, STX Panocean, to its Board. The Container Owners Association (COA) was established in November 2004 as an international organisation representing the common interests of all owners of freight containers, worldwide. It has over 165 Members, including container shipping lines, leasing companies, intermodal operators and suppliers of a wide range of container equipment and services. Mr Kwon joins six other Directors, who represent some of the worlds largest container owners, on the Board of the Container Owners Association. "It is a great honour both for me personally, and for my company STX Panocean - to join the COA Board," Mr Kwon said.
Singamas Container: Profit Down in 2014, Bullish for 2015
The world’s second-largest container manufacturer Singamas Container reported 2014 net profit which is lower than the previous year, but is expecting a better 2015 bolstered by pent-up demand from shipping lines and the firm’s investment in a gateway province between China and Southeast Asia. The Hong Kong-listed box-maker saw net profit fall 21 per cent to US$28 million (HK$217miilion), falling short of an estimated US$36.5 million in a Bloomberg poll of three analysts. Revenue jumped 20 per cent to US$1.5 billion…
Crowley Adds Vastly to its Fleet Cargo-Handling Equipment
Crowley Maritime Corporation’s liner services group is adding more than 3,000 pieces of cargo handling equipment to its diverse fleet. The additional resources will allow the company to better meet increasing customer demand throughout Puerto Rico, the Caribbean and Latin America service areas. The equipment includes 200 53-foot (102-inch wide) dry containers, 200 45-foot (102-inch wide) dry containers, 500 20-foot dry containers, 1,000 40-foot dry high-cube containers, 337 40-foot refrigerated high-cube containers…
BWTS in a Box Fits in Cargo Hold
New ClassNK-approved container-type Ballast Water Treatment System (BWTS) installation technology. Mitsubishi Heavy Industries, Ltd. (MHI), working jointly with Mitsui O.S.K. Lines, Ltd. (MOL), has developed installation technology of a ballast water treatment system (BWTS) enclosed in a standard-size freight container for installation in the hold of container ships. The new technology will significantly reduce BWTS retrofitting turnaround time in comparison to engine-room BWTS installation.
Crowley Acquires 500 New 40' Containers
Brings Company Investment in New Equipment for 2011 to more than $23 Million. Crowley Maritime Corporation's liner services group is continuing to grow and update its equipment fleet to better serve customers with the addition of 500 new 40-foot, high-cube containers. The acquisition adds to the company's already robust equipment fleet of more than 45,000 units, as well as phases out some older containers. The new containers, which have a capacity of 2,700 cubic feet, will be used in all liner service operations in Latin America, the Caribbean and Puerto Rico.
Singamas Back in the Black
Singamas Container Holdings Limited, Hong Kong-listed container manufacturing company, turned around in the first half of this year, thanks to a 45 per cent surge in its revenue mainly due to a jump in container sales and a higher average unit. "During the review period, the recovering global economy, rise in international trade and the corresponding pick up in shipping volume as well as the strengthening market sentiment have been favourable for the container industry, leading to the improvement of container demand and a rise of average selling price (ASP)," said a statement from the company.