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.

Scapegoating a law that protects good jobs will not help Puerto Rico

From The Hill:

More than a month after Hurricane Maria devastated Puerto Rico, the situation remains dire. Forty percent of the island is without running water. Many roads and bridges are impassable. The electric grid is largely offline. The people of Puerto Rico desperately need and are entitled to help from the U.S. government. But […]

FacebookEmailShare

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

OOCL Hong Kong Achieves Guinness World Record

From Maritime Executive:

The OOCL Hong Kong has officially been recorded as the world’s biggest container ship at 21,413 TEU by Guinness World Records. The vessel was the first container ship in the world to exceed the 21,000 TEU mark.

This is a second record for OOCL, with OOCL Shenzhen claiming the title for largest […]

FacebookEmailShare

Matson, U.S. shipyard mark ‘Aloha Class’ milestone for Hawaii fleet

Excerpts from Marine Link:

Philly Shipyard, Inc. (PSI) and Matson, a U.S. carrier in the Pacific, have marked a milestone in the construction of the first of two new “Aloha Class” containerships to be delivered to Matson in the third quarter of 2018 and first quarter of 2019, respectively. Designed specifically for Hawaii service, […]

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

MOL plans four 20,000 TEU LNG mega-ships

Mitsui O.S.K. Lines (MOL), the largest and oldest of Japan’s international ocean carrier companies, has got the green light for four LNG-powered 20,000 TEU container-ships that have been under construction with Samsung Heavy Industries (SHI).

DNVGL, a registrar and classification society headquartered in Germany, has approved plans for the series of container-ships.

Global regulations on […]

FacebookEmailShare

Hanjin Shipping’s bankruptcy backfires on Korean shipbuilders

Global shipping giants reportedly are reluctant to place orders and are postponing the delivery of completed container ships because vessels that were chartered by the nation’s once-largest shipping line have been released into the market at lower prices.

According to industry sources on Sunday, the world’s largest shipping line, Maersk Line, placed a $1.1 billion […]

FacebookEmailShare

Advice to box ship owners: Defer newbuild deliveries

Table by Drewry

From Marine Log:

The latest Container Insight Weekly from Drewry Shipping Consultants Ltd. says that newbuilding deferral offers the container industry a golden opportunity to smooth out the capacity peaks in the coming years.

Drewry points to the dire state of the shipbuilding industry where “nobody is ordering vessels, of any […]

FacebookEmailShare

Maersk Line defers delivery of new container ships to prop up cashflow

From The Loadstar:

Maersk Line is to postpone delivery of nine newbuild 14,000 teu ‘utility’ ships with the last vessel to be received at the end of 2018, instead of at the end of this year.

Maersk Line says it does not need the ships as it is able to charter vessels of this […]

FacebookEmailShare

Maersk may target Hanjin, Hyundai in new acquisition plan

From Bloomberg:

A.P. Moeller-Maersk A/S’s container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea’s two biggest shipping firms, according to Jefferies International Ltd.

Hanjin Shipping Co. last month filed for bankruptcy protection and Hyundai Merchant Marine Co. is in the […]

FacebookEmailShare

Matson orders two new shipping vessels at a cost of $511M

Artist rendering of the new Matson ship design. Each ship will be 869 feet long and 115 feet wide at the beam with a deep draft of 38 feet and enclosed garage space for up to 800 vehicles.

Matson Inc. has announced that its subsidiary Matson Navigation Co. Inc. has contracted with General Dynamics […]

FacebookEmailShare

Giant strike planned at Korea’s eight top shipyards

Strikes at Korean yards are becoming more common as anger grows at senior management and the government This photo was taken in September 2015 when workers struck at Hyundai Heavy Industries in Ulsan, South Korea.

From Vesselfinder:

Workers at eight of South Korea’s largest shipyards will go on strike on July 20 as a […]

FacebookEmailShare

MSC Cruises to build two more megaships

The Meraviglia Plus ships will be due for delivery respectively in November 2019 and April 2020.

MSC Cruises announced it will build two new mega ships that will be able to carry 6,300 passengers at full capacity.

The two new ships — which will be known as “Meraviglia Plus class” — will be 16 […]

FacebookEmailShare

Analysis: Is shipping in double dip danger?

Drewry Maritime Research asks: will carriers repeat the same tactics that saved them in 2009, or will they wait until things reach boiling point, as the risk of a double dip recession rears its head?

Today’s market does share some similarities to the 2009 crisis: carrier staff redundancies, ultra-low freight rates and the rapid increase […]

FacebookEmailShare