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Tuesday, December 1, 2020

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  • Far East Maritime (375) (X)

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Lines quick to lay off costs of any US port strike

Posted to Far East Maritime (by Greg Knowler) on September 11, 2012

The congestion surcharges are hefty, too. OOCL, for instance, is preparing a surcharge of $600 per TEU, $750 per FEU and $950 per 45 foot container that it will levy if labour unrest hits the US, as threatened by the ILA should an agreement not be reached by September 30.

More Pearl River Delta factories failing as demand falters

Posted to Far East Maritime (by Greg Knowler) on September 6, 2012

It is something any liner company serving Asia will tell you. The demand for shipping slots on the major East-West trades is down and the carriers are hurting. But as container lines struggle to find an antidote to the precarious oversupply-low freight rate position they have found themselves in…

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…

Asian triangle of debt builds as orders drop off

Posted to Far East Maritime (by Greg Knowler) on August 30, 2012

triangle of debt that it is causing at the bottom end of the supply chain. absent peak season. narrow margins unable to cope with smaller and more intermittent orders. business. patterns harder to predict so far out. month in some cases. additional…

East Coast shutdown won’t hurt as much as West Coast strike

Posted to Far East Maritime (by Greg Knowler) on August 29, 2012

When the US West Coast ports were shut down by a strike in 2002, throughput at the port of Savannah shot up by 22 percent. It was a year after China was admitted to the World Trade Organisation and the transpacific trade was booming. As ships…

No end in slide for Stock Code 368

Posted to Far East Maritime (by Greg Knowler) on August 24, 2012

Sinotrans Shipping launched its initial public offering on the Hong Kong Exchange in November 2007. At that time, the stock market was on a high, riding a wave of euphoria from Hong Kong investors who a couple of weeks earlier had made Alibaba.com…

Westports plans to ride Port Klang success

Posted to Far East Maritime (by Greg Knowler) on August 22, 2012

Early last year, Hong Kong tycoon Li Ka-shing formed the Hutchison Port Holdings Trust and listed it in Singapore, raising US$5.5 billion in the largest IPO the city has seen. Reports are doing the rounds that Westports Malaysia in Port Klang…

Big ships have yard operators scratching heads

Posted to Far East Maritime (by Greg Knowler) on August 18, 2012

The rapidly increasing size of container vessels is posing an increasing headache for the terminals that have to accommodate the ships. Off-loading half of a 10,000-plus TEU vessel requires plenty of coordination between ship and shore. On busy terminal days…

Maersk predicts ‘satisfactory’ year

Posted to Far East Maritime (by Greg Knowler) on August 16, 2012

Predictions that Maersk Line would be one of the few container carriers to make a profit this year have improved slightly after the Danish giant posted a positive result for the second quarter. AP-Moller Maersk group CEO Nils Andersen was confident of achieving a “satisfactory” full year result…

It seems there ain’t no cure for the summer time blues

Posted to Far East Maritime (by Greg Knowler) on August 8, 2012

If you are holding a glass that is half full, turn it upside down. Now your glass isn’t even half empty, it is completely empty, much like expectations for the container shipping business this year. Even the most stubbornly optimistic, bright…

A profitable first half for a container carrier – imagine that

Posted to Far East Maritime (by Greg Knowler) on August 2, 2012

The comment was made after Orient Overseas (International) Ltd, the parent of OOCL, yesterday announced a 33 percent drop in net profit for the first half. The group also has large property interests and the decline in profit also reflected dividend payouts in its real estate investment trust.

A united Africa will forge better deals with China

Posted to Far East Maritime (by Greg Knowler) on July 31, 2012

As the factory of the world with an insatiable demand for raw materials to fuel its rapid growth, it is unavoidable for a country to have trade ties with China. What the mainland’s trading partners are finding, however, is that greater dependence on China comes with strings attached.

‘Cruise City’ unveils its grand plans

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

Southeast Asia has always been a good market the cruise ship industry with so many exotic destinations in close proximity to hubs such as Singapore. Planned around typhoon season and the monsoon rains, tourists have poured off the floating hotels and photographed their way across the region.

Bunker price tumbles, taking rates along for the ride

Posted to Far East Maritime (by Greg Knowler) on July 24, 2012

SeaIntel’s Lars Jensen raised an interesting point in the market intelligence outfit’s Sunday Spotlight. He said the rate to ship a container on Asia-Europe would decline by US$165 per TEU in June, July and August compared to the May levels.

Lines again reach for the GRI button

Posted to Far East Maritime (by Greg Knowler) on July 19, 2012

We don’t get it. With so much capacity in service and on the way, and with cargo demand falling, the lines are still imposing general rates increases. Cosco, Yang Ming, Zim – you name it, they are all imposing GRIs of up to $400 per TEU between Asia and Europe.

Container makers in a bind as demand drops off

Posted to Far East Maritime (by Greg Knowler) on July 17, 2012

A stark indication of the container industry slowdown is in the profit warning issued this week by China International Marine Containers. The company warned investors that it expects to post a 55-75 percent drop in first half net profit over the same period last year.

South China’s flagship port slides into negative growth

Posted to Far East Maritime (by Greg Knowler) on July 12, 2012

Year-on-year figures for container throughput at Chinese ports are almost always in positive territory. Even if growth slows, it seldom drops below levels reached the previous year. But as news emerges that China’s GDP growth in the second quarter…

Revenue from sale of NOL building a relief to battered balance sheet

Posted to Far East Maritime (by Greg Knowler) on July 11, 2012

When it comes to investment strategies, property is generally deemed to be a highly attractive long-term prospect. That’s why people in the financial advising business advise people to buy rather than rent. No point in paying off your landlord’s home.

Long-term thinking keeps ports positive

Posted to Far East Maritime (by Greg Knowler) on July 6, 2012

These days, no major port wants to have less than 50 feet of water. Anything with a capacity above 10,000 TEUs needs that sort of depth and much of the vessels on order are even bigger. That is why there is such vigorous campaigning by ports…

Carriers in for a brutal year as capacity floods in

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

Alphaliner’s chart of the week focuses on the new tonnage that has been added by the top 20 container shipping lines in the past 12 months. As incredible as the capacity is – 844,000 TEUs for a fleet growth of 6.4 percent – the one carrier that stands out is CSAV.