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Wednesday, November 25, 2020

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  • Far East Maritime (375) (X)

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Mainland FTZs have Hong Kong in a froth

Posted to Far East Maritime (by Greg Knowler) on September 18, 2013

It is difficult to pick up a newspaper here and not read about how the planned free trade zones of Shanghai and Qianhai near Shenzhen will rob Hong Kong of its competitiveness and steal away trade. Free trade zone fever is sending everyone into…

Sri Lanka the latest to outlaw THCs

Posted to Far East Maritime (by Greg Knowler) on December 4, 2013

Well, maybe not dancing, but they are pretty happy. For a good 15 years, shippers in Asia have been trading barbs with the container lines over the carrier practice of slapping terminal handling charges on top of freight rates. And then adding peak season surcharges…

New emissions curbing law makes little sense

Posted to Far East Maritime (by Greg Knowler) on November 28, 2013

The various studies into the effects of shipping emissions are blunt and unequivocal: Fuel emissions cost lives. Ship engines burn the sludge that settles to the bottom of the oil refining tank, and even though using the fuel to power the world’s vessels is the most efficient way to dispose of it…

Dodging the mainland taxman keeps HK exports rolling

Posted to Far East Maritime (by Greg Knowler) on November 27, 2013

The statistics manipulators - I mean, statistics department - issues regular statements on Hong Kong’s “imports and exports” as though it still has busy factories clustered in the New Territories with furnaces stoked and churning out products for the world.

Low emission scheme could hurt Hong Kong

Posted to Far East Maritime (by Greg Knowler) on November 20, 2013

In the first nine months of this year, Shenzhen port handled almost a million boxes more than Hong Kong. There is little doubt that it will move past its neighbour into the world's third busiest container port by the time the New Year bubbly is raised.

Blues continue for troubled China Cosco

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

Don’t leave town, police told an executive director at China Cosco Holdings last week. Okay, they probably never said that, but it doesn’t change the fact that Xu Minjie is under investigation in what is widely believed to be part of Beijing’s crackdown on widespread corruption.

Panama expansion gets Latin America moving

Posted to Far East Maritime (by Greg Knowler) on November 7, 2013

The expected launch of Panama 2.0 is "sometime in 2015" and ports across the US East Coast - at least the ones that have received funding - are busy digging away to make the channels and berths deep enough for the big ships. But it is no only US ports that are getting ready.

Shanghai showdown looms as China Cosco sails into last chance saloon

Posted to Far East Maritime (by Greg Knowler) on November 1, 2013

China Cosco now has a financial target for the fourth quarter to avoid a third consecutive year of losses and delisting from the Shanghai Stock Exchange – 1.67 billion yuan. But it is a target that would have a CEO and board of directors anxiously…

Nicaraguan delegation takes China tour to punt its cross-country ditch

Posted to Far East Maritime (by Greg Knowler) on October 29, 2013

There was no fanfare involved, just a low-profile, under the radar tour. The Hong Kong Nicaragua Canal Development Investment (HKND) outfit hosted a delegation of 21 politicians, academics and businessmen on a junket around Beijing, Wuhan, Xuzhou and Hong Kong.

Tankers fret over easing US-Iran tensions

Posted to Far East Maritime (by Greg Knowler) on October 25, 2013

Shipping analysts are alarmed at the thought of thawing relations between the West and Iran. Their chief concern is that the dropping of sanctions on Iran’s oil exports will see the Islamic state putting its fleet of 35 VLCCs back into service.

Carriers prepare for slow trot into into Year of the Green Wood Horse

Posted to Far East Maritime (by Greg Knowler) on October 24, 2013

The Year of the Horse is riding into China early next year and it is playing havoc with shipping schedules in the first quarter. Chinese New Year falls at the end of January and factories traditionally close for three weeks and sometimes even longer.

NVOCCs pass the bubbly while carriers grind on

Posted to Far East Maritime (by Greg Knowler) on October 15, 2013

Shipping market intelligence outfit SeaIntel has found some interesting differences between NVOCCs and container lines. In bad times, the volumes handled by the large forwarders fall faster than those of the carriers, but when conditions improve the volumes grow faster than those of the lines.

Rates hit lowest levels ever, GRIs reach for record highs – go figure

Posted to Far East Maritime (by Greg Knowler) on October 10, 2013

Here's the story so far ... European demand for containerized imports from China vanished as the continent melted down into a steaming pile of sovereign debt. Meanwhile, the ever-optimistic and market share protecting shipping lines continued to place orders for new ships.

Rates riding a new record low on Asia-Europe

Posted to Far East Maritime (by Greg Knowler) on October 5, 2013

Rates on the Asia-Europe trade have fallen to an abysmal level. We are hearing of forwarders securing freight rates of as low as US$900 per container, which is well below any kind of sustainable level as far as shipping lines are concerned.

World’s top three betting heavily on P3 tie-up

Posted to Far East Maritime (by Greg Knowler) on October 1, 2013

Earlier this year, the world’s three top carriers announced they would put their rivalry aside on the east-west trades and combine services in a gigantic container shipping alliance. Switzerland-based MSC and France’s CMA CGM plan to link up with Maersk on the P3…

Political turmoil more likely to block Suez Canal than ship attack

Posted to Far East Maritime (by Greg Knowler) on September 4, 2013

Egypt rakes in around US$5 billion a year from shipping passing through the Suez Canal. That is a great incentive for keeping the vital Asia-Europe waterway open, but it may be a big ask for a military already stretched in imposing a state of emergency.

Shipping slump spreads the pain to box makers

Posted to Far East Maritime (by Greg Knowler) on August 29, 2013

If you think the container shipping business is depressing, try the container making business. A good 20 percent of the 30 million boxes in circulation around the world are more than 20 years old, even though their lifespan should be 15 years.

Triple-Es slipping into AE10 string

Posted to Far East Maritime (by Greg Knowler) on August 28, 2013

In an online discussion recently, a maritime consultant described the container shipping industry as “a machine with small and large cogs synchronized at different speeds”. He was commenting on the trend of introducing ultra large container carriers (ULCCs) on the Asia-North Europe trade…

Time the Philippines cleaned up its maritime act

Posted to Far East Maritime (by Greg Knowler) on August 20, 2013

Four years ago Sulpicio Lines changed its name to Philippine Span Asia Carrier Corp (PSACC), but that doesn’t appear to have altered the carrier’s unfortunate penchant for being involved in fatal accidents. On Friday, 55 people died and 65 are…

Gloves come off in battle for Britain’s shippers

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

The battle for the hearts and minds of shippers has begun as two port-operating giants compete for Britain’s containerised trade. Felixstowe, owned by Hutchison Port Holdings, has been a long established hub and the busiest, and biggest, port in the UK.