Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

Another big box ship order raises over capacity worries

From Marine Log:

Analysts are worried that the container shipping industry is about to build itself a whole new lot of overcapacity.

South Korea’s Daewoo Shipbuilding & Marine Engineering Co. said in a regulatory filing today that it has clinched a 927 billion won (US$818 million) deal to build five container vessels for delivery by […]

FacebookEmailShare

N. Korea’s missile launch hits S. Korean shipbuilding industry

From Business Korea:

MSC expressed concerns over the contracts with Samsung Heavy and DSME after North Korea carried out its sixth nuclear test on September 3.

North Korea’s sixth nuclear test hit the domestic shipbuilding industry which has been struggling with the sluggish market. Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) was […]

FacebookEmailShare

Latest ‘world’s largest containership’ delivered to Maersk Line

Just two weeks after the delivery of the first containership to surpass the 20,000 TEU mark, the record for the world’s largest containership has been broken yet again with the delivery of the Madrid Maersk to Danish shipping giant Maersk Line.

According to the maritime analyst Alphaliner, the Madrid Maersk has a capacity of […]

FacebookEmailShare

Hanjin Heavy expected to win container ship deal

France’s CMA CGM SA is in talks to build at least three container megaships, joining the race among the top container operators that already use such vessels to increase their market share on the world’s busiest trade routes, people with knowledge of the matter said Tuesday.

The ships would be able to carry around 20,000 […]

FacebookEmailShare

Maersk to pay $100 million less for new giant vessels

Danish oil and shipping group A P Moller-Maersk will pay about $100 million less than predicted for 20 mega-size container vessels ordered from Korea’s Daewoo Shipbuilding & Marine Engineering.

The group said it now expects to pay about $185 million on average per vessel, against previous expectations of about $190 million.

Maersk Line, the group’s […]

FacebookEmailShare

China shipyards slash prices to survive-industry

South Korea’s Daewoo Shipbuilding & Marine Engineering, shown above, along with Hyundai Heavy Industries and Samsung Heavy Industries, have benefited from the industry’s move away from China’s cheaper vessels. Overall sales by Chinese yards have been difficult as struggling shipowners seek quality vessels to offset rising maintenance and fuel costs.

Chinese shipyards are offering […]

FacebookEmailShare

NOL plans $1.54 billion box ship splurge

Singapore’s NOL Group today signed letters of intent to build 12 new containerships for its APL subsidiary. The ships, all to be built in South Korean shipyards, will include ten 14,000-TEU vessels to be constructed by Hyundai Samho Heavy Industries Co., Ltd; and two 9,200-TEU vessels to be constructed by Daewoo Shipbuilding & Marine Engineering […]

FacebookEmailShare