Thursday, December 15, 2011

ITF newsletter on the economic crisis

ITF newsletter on the economic crisis

Link to Economic Crisis Newsletter

Company shorts - 15 Dec. 11

Posted:

Medlink Shuttle Containers, the operator of the 550-km Medlink inland waterways linking the French port of Marseilles-Fos and nine inland ports, has reported a 12 per cent growth in volumes to 55,300 units.

South Korea's container line Hyundai Merchant Marine (HMM) has secured a US$500 million loan from a group of banks led by DNB Bank. HMM plans to order six 13,000 teu vessels for Asia to Europe services.

Japanese box line Kawasaki Kisen Kaisha (K Line) has commenced a weekly service between Xingang in North China and Ho Chi Minh City, Vietnam's capital.

ANZEX, a partnership between France's CMA CGM and Hong Kong-based Orient Overseas Container Line (OOCL), is a new six-ship service between China and New Zealand.

A weekly service with eight ships between Asian ports and Venice in Italy, operated jointly by United Arab Shipping Company, Hanjin, Hyundai Merchant Marine and Yang Ming, has been suspended.

Dutch company IHC Merwede has sealed three offshore and dredging orders, worth €200 million, from US-based Weeks Marine, China's Zheijang Dredging and Royal Boskalis Westminster.

Source: Lloyd's List; International Freighting Weekly; 14-15 December 2011

Capesize and panamax rates remain steady

Posted:

An increasing steel production in China in the past weeks has kept the bulk carrier average charter rates at high levels. Capesize rates have hit US$32,587 per day and panamax average rates stood just under $13,500 at the beginning of the week, according to the Baltic Exchange. The Atlantic market is still stronger than the transpacific trades. On the other hand, the idle containership capacity has surged to 526,000 teu, the highest level in 18 months, following a collapse in demand. Idle fleet is forecast by analyst Alphaliner to climb to 600,000 teu by the end of the year.

Source: Lloyd's List; 14 December 2011

Revised pace for US containerized imports

Posted:

New Jersey-based cargo-data analyst Piers has downgraded its estimate for the growth in US box imports for 2012. As the recovery in the country's economy is slower than expected, and the unemployment rate stays at a high level, imports are forecast to increase by 2.8 per cent to 17.4 million teu next year. Piers estimated a stronger rise in US exports, as transpacific trade from the US to Asia was 1.7 million teu in the third quarter, a 10.4 per cent increase compared to the same period last year.

Source: Lloyd's List; 14 December 2011

Evergreen expands services

Posted:

Taiwan's container line Evergreen Marine has announced an enhancement of its Southeast Asian business by launching a new weekly service between Ho Chi Minh City in Vietnam, and several ports of Indonesia and Malaysia. Having just one 10,000 teu ship and eight vessels of 8,100 teu on charter, Evergreen's orderbook consists of 30 vessels of 8,800 teu on order at South Korea's Samsung Heavy Industries and Taiwan's China Ship Building Corp. Evergreen, the sixth largest boxline in terms of capacity, could order megaships of 12,000 teu or more to face the competition in the Pacific market, although the company has constantly denied this.

Source: Lloyd's List; 14 December 2011

Modernisation plan for the Port of Charleston

Posted:

The Port of Charleston on the US east coast is to increase its capacity by 50 per cent by 2018, following a US$1.3 billion investment announced by the South Carolina Ports Authority (SCPA). The ten-year plan will see a new port terminal built on the 280-acre site of the former Charleston Navy Base, in addition to the five terminals owned and operated by SCPA. Several infrastructure improvements and upgrading facilities at the old terminals are also part of the modernisation plan for the forth busiest port in the USA.

Source: International Freighting Weekly; 14 December 2011