South American Business News

Hapag-Lloyd has taken delivery of two wide-beam 3,500-TEU ships from the Dutch shipping company NileDutch for an undisclosed purchase price. The two 2015-built containerships will initially be deployed in South America, and Hapag-Lloyd is also chartering two more identical ships from NileDutch’s same series, both of which will be deployed together with their sister ships. The wide-beam design of the hull means that the ships maintain a comparatively high slot capacity despite having a lower draught, thereby making them particularly well suited for ports with shallow water as for example some South American ports. “For Hapag-Lloyd, these state-of-the-art and highly efficient vessels represent an important enhancement of the fleet,” said Anthony J. Firmin, COO of Hapag-Lloyd.

Panamax fixtures for end-March loading dates supported forecasts that Atlantic rates are set to move higher, shipbrokers said. But although the Capesize move to higher ground removed resistance against a prolonged Panamax uptrend, spreading foot- and-mouth disease is threatening to dampen dry bulk spring bullishness, they added. They said that reports that the disease in Britain and France may affect European grain exports was disturbing. However on Thursday Tunisia and Morocco, two major importers, contradicted earlier statements and said they were not banning grain imports from Europe due to concern over foot-and-mouth infection. Panamax fixtures suggest a confident market, shipbrokers said.

McQuilling Services announced that is expanding its emphasis on South American business opportunities as part of its overall strategy of providing commercial advisory services to clients in the oil and marine transportation industries. In support of this strategy deployment, McQuilling Services announced that longtime industry participant Pedro Paulo Saraceni had joined the company in the capacity of Senior Commercial Advisor - South America, located in Rio de Janeiro, Brazil.

Freight rates for Panamaxes trading the Atlantic are holding strong but the Pacific market is now starting to weaken, shipbrokers said. "Prospects for May in the Atlantic are very good as South American business is expected to accelerate," said a shipbroker, adding that the strength in the Atlantic Panamax market was likely to continue into next month. South America's grain export season started later than expected this year and should therefore produce further opportunities for the Panamax sector in late spring, he said. One fixture was reported for this market on Tuesday, the 1981-built Golden Glow, 63,990 dwt, for prompt delivery Piraeus to be followed by an east coast of South America round voyage for at a daily rate of $10,250.

To say the Gulf of Mexico maritime business had a down year would be a major understatement. But rags-to-riches-to-rags experience of the past has resulted in a consolidated, resourceful group of companies poised to pounce on the next market upturn … which should be very soon. The business trends of consolidation and globalization that have largely defined the late 1990s have touched every level of business in the U.S., including the Gulf of Mexico maritime industry. Companies that had largely depended on "business as usual" are generally out of business today. The result: a resilient industrial base that is poised to prosper in good times and bad. "Business is bad right now, as the oilfield is our primary source of business," said Ralston P.

The only logical reason the sustained high price per barrel of oil has not already been dubbed "OIL BOOM 2000" is the fact that hindsight is 20/20. Companies that operate, build and supply vessels for the fickle oil patch have seen schizophrenic markets of days past bring industry goliaths to their knees. There remains a reserve among Gulf of Mexico area companies regarding prospects 2000 and beyond, but there is a growing feeling the business - which has largely been dismal since the end of 1997 - is set to embark on one of those notorious end runs that will fill area yards with healthy backlogs for years. The reason for the "look before you leap" attitude is also largely rooted in changing business dynamics which have effectively altered the way in which the world does business.