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Monday, October 21, 2019

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  • Far East Maritime (15) (X)

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Hutch a step closer to taking over HK port

Posted to Far East Maritime (by Greg Knowler) on March 13, 2013

With 16 of 24 Kwai Tsing container terminal berths, the world’s biggest port operator has just Modern Terminals and one berth at CT3 to go before it can convert the entire Kwai Tsing container port into prime waterfront real estate when the sun inevitably sets on the Hong Kong box shipping business.

Hong Kong port’s days are numbered

Posted to Far East Maritime (by Greg Knowler) on November 28, 2012

Way back in the mists of 2004, the government of Hong Kong released its Port Masterplan: 2020. The plan, compiled by consultants GHK, took a comprehensive look at the port and its needs over the next couple of decades. Naturally the government watered down the first draft…

China looks inwards as export demand remains weak

Posted to Far East Maritime (by Greg Knowler) on October 25, 2012

China became known as the world’s factory by offering manufacturing costs that could not be matched by the developed nations. Its wages paid to uneducated rural migrant labour were a fraction of the mostly unionized pay required in the West, and land for factories was plentiful and cheap.

Rates war back in the picture on Asia-Europe

Posted to Far East Maritime (by Greg Knowler) on September 4, 2012

“A general rate increase in November? Skou must have lost his mind,” was the retort of Hong Kong Shippers Council executive director Sunny Ho to news that the Maersk boss planned to hike box rates from November 1. It was an understandable reaction from the feisty Ho…

Evergreen shrugs off conservative cloak

Posted to Far East Maritime (by Greg Knowler) on April 26, 2012

Working out supply and demand is a tricky business at the best of times, so trying to predict the container shipping market a year or two in advance is as good as sucking a thumb and writing down the first thing that comes to mind. Looking at an Alphaliner chart of current vs ordered ships…

Laissez faire or just plain blasé

Posted to Far East Maritime (by Greg Knowler) on April 20, 2012

Hong Kong and Singapore have developed into fierce rivals over the last two decades. During that time, both iconic cities have become transportation hubs, Hong Kong as a gateway to China and Singapore as the transshipment point between East and West.

Scary stuff from the experts, but 'wait and see' is the best advice

Posted to Far East Maritime (by Greg Knowler) on April 13, 2012

Container shipping lines, and their bulk carrying counterparts, are being squeezed from both sides of their balance sheets. The top lines are throttled by excess capacity and poor freight rate levels, while the bottom lines are hammered by rising fuel costs.

Just what the world needs, another Middle East conflict

Posted to Far East Maritime (by Greg Knowler) on January 5, 2012

There are varying estimates of how much crude oil is shipped through the Straits of Hormuz, but the most consistent figure given is around 20 percent of the global supply. That’s about 17 million barrels a day that the Iranians are threatening to choke off…

Asia-Europe will decide the shape of shipping in 2012

Posted to Far East Maritime (by Greg Knowler) on December 22, 2011

When Daily Maersk was announced a couple of months ago, the industry held its breath to see what the other carriers would do about it. What Maersk was offering were guaranteed transit times between certain Asian and European destinations with the payment of penalties for late delivery.

Container shipping shambles claims first high profile victim

Posted to Far East Maritime (by Greg Knowler) on November 24, 2011

Some pundits are predicting significant consolidation of the container shipping industry as it is hit from all sides by falling demand and burdened with over capacity and high fuel prices. Among the top carriers, it is hard to see where that…

Top three driving Asia-Europe rates into the sea bed

Posted to Far East Maritime (by Greg Knowler) on October 26, 2011

Looking at the container shipping rates, it seems that for a carrier to even achieve zero rate would be an improvement. The bunker adjustment factors being charged are more than the rate per TEU, which means the lines are paying shippers to transport their cargo.

When is a Hong Kong manufacturer not a Hong Kong manufacturer?

Posted to Far East Maritime (by Greg Knowler) on October 4, 2011

The Hong Kong Toys Manufacturers Association was this week complaining that falling orders from the European Union and the US will leave factory owners facing a bleak Christmas. The expectation is that toy exports will be down about 25 percent this year…

Will the Korea who blew up that warship please report to the principal’s office

Posted to Far East Maritime (by Greg Knowler) on April 27, 2010

South Korea’s government believes it was a torpedo that blew up and sank its warship near the border with North Korea last month. The 1,200-tonne Cheonan was blown in two on March 26 by an “external explosion”, according to an investigation…

Aren’t you glad not to be in Asia-Europe air freight

Posted to Far East Maritime (by Greg Knowler) on April 21, 2010

But could something happen that would shut down most of the ports in continental USA? The answer is yes, but the cause will be no natural disaster. Hurricane Katrina closed New Orleans and many of the Gulf ports and those on the eastern seaboard are regularly threatened by hurricanes.

Trumpeting year-on-year growth an annoying practice this time around

Posted to Far East Maritime (by Greg Knowler) on February 23, 2010

Ports and terminal operators across China are showing some impressive year-on-year container throughput growth for January. The problem is that in January last year the container throughput arrow at the ports in question was heading in the same direction as a downhill skier in Vancouver…