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 […]
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 […]
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 […]
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 […]
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 […]
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.
Workers at eight of South Korea’s largest shipyards will go on strike on July 20 as a […]
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 […]
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 […]
”The most dramatic symbol of these problems is that an 18,000 container Triple-E freighter, one of the largest (and therefore theoretically most cost-efficient) container ships on the planet, was idled by Maersk in late October.” — Fortune
From an article titled ”Maersk’s terrible earnings report shows ocean shippers are sinking themselves” in Fortune Magazine:
From the Wall Street Journal:
Maersk is canceling options to buy six Triple-E vessels.
The world’s biggest container-ship operator is altering course, slashing jobs and canceling or delaying orders for new vessels after years weathering a sharp downturn in the container-shipping market.
Danish conglomerate A.P. Møller-Maersk A/S said Wednesday its Maersk Line container-shipping unit would […]
American shipyards have issued a fierce rebuttal of repeated links between the Jones Act and the sinking of the 40-year-old El Faro containership at the beginning of October.
“To imply that vessels that do not have to comply with rigorous US safety standards are safe than those that do defies common sense,” said Matthew Paxton, […]
Koningsdam is the biggest ship to be built for Holland America Line – like Cunard, P&O, and Princess, part of the giant Carnival Corporation. 2,660 passengers, 99,500 tons.
From The Mirror UK:
When the lavishly painted hull of Norwegian Escape swings into the Solent at the end of next month it will be the […]
Taiwanese carrier Yang Ming Marine on 9 September ordered five 14,000 teu box ships at Imabari Shipbuilding.
The vessels, priced at USD125 million each, are scheduled for delivery in 2018 and 2019, and will be chartered to Shoei Kisen Kaisha.
Yang Ming’s 14,000 teu box ship fleet will grow to 20 vessels when the newbuildings […]
Nippon Steel & Sumitomo Metal Corp (NSSMC), the largest steel producer in Japan, intends to replace its fleet of chartered-in capesize vessels with nine super-cape vessels of 230-250,000 dwt each.
According to the U.S. shipbroker Compass Maritime, the very large ore carriers (VLOCs) will be chartered on periods of 8 to 15 years from four […]
According to the White House, the call for the building of the specialized ships comes as part of new investments to enhance safety and security in the changing Arctic.
U.S President Barack Obama called for funding the construction of new Coast Guard icebreakers on his recent visit to Alaska.
A Congressional Research Service report […]