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09/18/2014
With the number of laid-up container ships hovering close to three-year lows, vessel owners may enjoy a short-term boost in charter rates this fall, industry analyst firm Alphaliner reports in its latest newsletter. As of Sept. 8, the number of idle container ships with capacities of more than 500 20-foot-equivalent units...
09/18/2014
China Cosco Holdings will splash out $618 million on five 14,500-TEU vessels that will be built by CSSC’s Jiangnan Changxing Shipbuilding yard as the mainland’s largest carrier continues to upgrade its fleet in an attempt to arrest declining profitability. The giant shipping company managed to negotiate an attractive price for the vessels...
09/17/2014
Maersk Group said it has raised $1.25 billion from the successful issue of two maiden U.S. dollar bonds. The parent of the world’s biggest ocean carrier Maersk Line issued a $750 million four-year bond due in September 2019 and a $500 million ten-year bond due in September 2024. The net proceeds of...
09/17/2014
With the odds growing that a global ballast water treaty will come into force next year, concern is building among shipowners, including container carriers, that its implementation will be chaotic, expensive and ineffective. The ballast water convention was approved by the International Maritime Organization and sent out for national ratification in...
09/16/2014
As the use of formalized alliances and vessel-sharing agreements accelerates, carriers’ core product ― moving containers from Point A to Point B ― becomes increasingly identical across alliance partners in major trade lanes. In the Asia-U.S. East Coast trade lane, in particular, carriers have rationalized weekly port calls, and in...
09/15/2014
Slow-steaming has absorbed significant amounts of space on container ships, helping carriers save money on fuel. But according to SeaIntel’s latest Sunday Spotlight report, this phenomenon of slowing down ships has also created a reserve of capacity that can cater to several years’ worth of potential increased demand, giving shippers...
09/15/2014
A ZIM reefer specialist monitors the containers. Improving technology allows carriers to transport perishables further than ever before.An estimated 300,000 40-foot reefer containers are expected to be added to the global fleet by 2018 as strong demand for perishables drives the business and improving technology enables their long distance transport. Drewry’s...
09/12/2014
Full-size-chartAll major trade lanes saw a dip in spot rates for the week ahead, according to the latest reading of the Shanghai Containerized Freight Index, as carriers’ September’s general rate pushes failed to hold. SCFI spot rates from Asia to northern Europe dropped by 6.6 percent this week, down $74 to...
09/12/2014
More container lines have announced congestion surcharges for shipments moving to Sohar, Oman, to compensate for the extra costs caused by berthing delays and cargo processing bottlenecks. Hapag-Lloyd in a trade notice said it will charge $100 per 20-foot container for dry cargo and $200 per 20-foot container for reefer shipments,...
09/12/2014
Soren Skou isn’t just the leader of the world’s largest container shipping company. He’s also become the voice of the industry. It’s an apt role for Skou, who is in his third year as CEO of Maersk Line, and, as revealed in a wide-ranging interview with Peter Leach in this...



 
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