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Monday, January 18, 2021

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  • Far East Maritime (375) (X)

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Natural disasters also take out risk management plans

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

Risk management is a basic part of any company’s supply chain planning, but sometimes events are so unforeseen and extraordinary that no amount of planning can provide either a way to avoid being affected, or a way out of the resulting chaos.

Not much to look forward to this year for oversupplied carriers

Posted to Far East Maritime (by Greg Knowler) on April 29, 2011

The first quarter results have been coming in over the last month and they are a mixed bag of good, bad and ugly. Good would be China’s Cosco Shipping, a subsidiary of the country’s largest shipping firm China Ocean Shipping (Group) Co, which announced a 150 percent increase in net profit.

Trucks full of white elephants, not containers, to use bridge across the PRD

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

The bridge is back in the news again. We could say “for all the wrong reasons”, except there was no right reason for starting construction on the bridge in the first place. It is a multi-billion dollar waste of taxpayers’ money, mostly Hong Kong taxpayers…

Structural change to the Factory of the World

Posted to Far East Maritime (by Greg Knowler) on April 20, 2011

Factories filling their wagons and heading west into China is bad news for the ports of both Shenzhen and Hong Kong. A story in yesterday’s South China Morning Post lamenting the fact that manufacturing was moving west would not have surprised anyone outside the Hong Kong government.

Dry bulk sector has gotten a bit too bulky

Posted to Far East Maritime (by Greg Knowler) on April 14, 2011

A Cargill International executive said in Singapore that dry cargo ships totaling 106 million dwt would be delivered this year. The cascade of new capacity would boost the world’s fleet by 17 percent, while the dry bulk market was only expected to grow by 7.5 percent.

Box imbalance set to hurt shippers again

Posted to Far East Maritime (by Greg Knowler) on April 13, 2011

A total of 3.5 million TEU of new boxes will be produced this year by the big box makers, but demand is expected to be closer to 4.5 million TEU. Who can forget the complete mess early last year when inventory rebuilding in the big western markets…

The Containership Company sails into big trouble

Posted to Far East Maritime (by Greg Knowler) on April 8, 2011

When The Containership Company started its so called “low cost” Great Dragon Service across the Pacific from Taicang to Los Angeles in April last year, it took the market by surprise. There were few positive comments and most predictions from the industry were that the line would not succeed…

China’s land link with Europe no match for ocean

Posted to Far East Maritime (by Greg Knowler) on April 6, 2011

The throughput of the port of Lianyungang in 2010 reached 3.8 million TEUs, up 27.7 percent on the previous year. In February alone, its cargo throughput reached 12.11 million tonnes, and container throughput hit 322,800 TEUs, according to China' Ministry of Transport.

Maersk move from Hong Kong raises the same old questions

Posted to Far East Maritime (by Greg Knowler) on April 1, 2011

The strategy of a container shipping line is as basic as it gets – go where the cargo is and fill up with boxes. Profitability may be determined by freight rates and fuel costs, but the decision to call at a particular port is driven by the availability of cargo.

Classify pirates as terrorists, say Asia’s shippers

Posted to Far East Maritime (by Greg Knowler) on March 30, 2011

The Asian Shippers’ Council has joined a growing chorus of complaints that initiatives to combat piracy are failing and more aggressive measures are needed. Treat pirates as terrorists, the ASC said bluntly, highlighting growing fears that the…

Japan puts Plan Bs to the test

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

A cursory glance at the economic statistics of Japan reveals some incredible numbers in the world’s third largest economy: Gross domestic product in 2010 was US$ 5,390,897 million (we won’t attempt converting that into trillions); More than eight million cars are made in the country…

New HK cruise terminal – a case of all berthed up and nowhere to spend

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

People who take long holidays on cruise ships are not backpackers or students. Anyone who has seen one of the giant liners disgorging thousands of passengers will have noticed that the average age is well on the other side of 50. The reason…

Asia holds its breath as Japan battles to avert meltdown

Posted to Far East Maritime (by Greg Knowler) on March 17, 2011

Power disruptions in Japan have forced manufacturers of cars and electronic components and all their suppliers to halt production, sending ripples down the supply chains. With the threat of nuclear meltdown hanging over the country, and the region…

Detente creeping into carrier-customer relations

Posted to Far East Maritime (by Greg Knowler) on March 16, 2011

For the container shipping lines, 2010 was a year of “remarkable recovery” in volumes and profitability, but it did not come close to making up for the losses of 2009, Hanjin Shipping president and CEO YM Kim said. The Hanjin boss was addressing…

Good start to the year marred by rising operating costs

Posted to Far East Maritime (by Greg Knowler) on March 10, 2011

A sense of unease is hanging over the container shipping industry. Despite having achieved record results last year, liner executives are of a pretty gloomy disposition. And for good reason. There will be a huge influx of capacity entering the transpacific and Asia-Europe trades this year…

Philippine shipbuilding alive and well

Posted to Far East Maritime (by Greg Knowler) on March 3, 2011

You could be excused for thinking the Philippines' greatest contribution to shipping was in supplying seafarers to man the world's merchant navy. However, a huge chunk of maritime business in the country last year came from an area you wouldn’t expect – shipbuilding.

Lay-ups loom as low rates and pricey fuel form toxic mix

Posted to Far East Maritime (by Greg Knowler) on March 1, 2011

The container shipping business is fast heading into another situation where it is more economical to lay up a ship than to operate it. This is incredible, considering the impressive 2010 financial results recently posted by the big carriers.

Welcome back, hundred-dollar oil

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

The cost of crude oil almost hit US$120 yesterday, but anything over about $80 a barrel has annoying implications for the world’s transport services providers. Airlines are already scrambling to introduce fuel taxes and shippers can expect to…

Maersk Bets Big On The Market

Posted to Far East Maritime (by Greg Knowler) on February 23, 2011

The news that Maersk Line was planning to order 10 new 18,000 TEU ships leaked out last week. At US$1.9 billion it was a pretty big deal. But it was only on Monday that the actual extent of the order was revealed by the Danish shipping group at a press conference in Hong Kong.

Hutch Listing Bid Gets The Nod From Singapore

Posted to Far East Maritime (by Greg Knowler) on February 17, 2011

Not that it was ever going to be an issue. Singapore has been trying to get big Chinese names to list on to its exchange for ages and this will be the biggest one the SGX has ever seen. The jewels in the trust portfolio are the port assets Hutch holds in Shenzhen and Hong Kong.