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Asia-US east coast capacity increases 18.9pc

PostTime:2022-08-09 07:12:11 View:14

ASIA to US east coast capacity is up 18.9 per cent, while congestion on the US west coast led to an increase in demand and capacity on the Asia-US east coast routes, reports the UK's Seatrade Maritime News. In the three months to July 24, capacity between Asia and the US east coast was up 18.9 per cent year on year to an average of 210,000 TEU, said Xeneta data. "Compared to the average weekly capacity in the same period last year, this is the equivalent of adding four 8,750-TEU ships a week," said Xeneta. Global container line reliability rises to 40 per cent, said the data provider. Asia-US west coast capacity eased, but remained the bigger trade by far. In the same period, Asia-west coast capacity was down 1.7 per cent, averaging 310,000 TEU. The shift between the coasts was driven by delays and queues at US west coast ports. Schedule reliability fell on the US east coast with 18.7 per cent of services running on time in June with average delays of nine days for those arriving late. On the west coast, reliability improved to 24.8 per cent in June, with average delays of 9.9 days.

Maersk cuts free container dwell time at US ports

PostTime:2022-08-09 07:10:38 View:8

DANISH shipping giant Maersk has cut import container dwell time by five days at two major US cargo ports in a bid to clear boxes from terminals. The carrier will reduce import container dwell time from 14 days to nine at Los Angeles and Long Beach and at choked-up New York-New Jersey terminals. From this week, Maersk will begin transferring containers dwelling for nine or more days that are customs cleared and have no appointment confirmed for pickup at the terminals. Maersk may also include containers with confirmed delivery appointments in situations where the appointments have been routinely missed or cancelled. "Unfortunately, persistent congestion continues to impact operations in our key Los Angeles/Long Beach and Newark/Elizabeth gateways," Maersk said. "However, average dwell times remain excessive across the United States, so we feel it's important to do more to free up capacity and improve productivity in our marine terminals so we can provide a more reliable service," it said. Containers trucked to Maersk designated off-dock locations in the Pacific southwest and New Jersey can only be made available on a "Last-In-First-Out" (LIFO) basis. Consequently Maersk asks shippers to take delivery of most urgent loads within the first seven-days after discharge to avoid potential delays in a 'peel off' stack.  

ICTSI profit up 50pc to US$294 million, sales rise 20pc

PostTime:2022-08-09 07:08:43 View:7

MANILA's International Container Terminal Services Inc (ICTSI) posted a first half 50 per cent year-on-year net profit increase to US$294.5 million, drawn on revenues of $1.06 billion, up 20 per cent. Second quarter net profit increased 43 per cent year on year to $152.2 million, drawn on revenues of $534.6 million, up 20 per cent. "We have delivered another period of strong operational and financial results across our global portfolio with throughput growth of five per cent," said ICTSI president and chairman Enrique Razon. "Over the years, we have demonstrated our resilience and the benefits of having a clear strategic market position and a disciplined and purpose-led culture," he said. ICTSI handled 5,752,582 TEU in the first six months of 2022, up five per cent year on year due to volume growth and general improvement in trade activities as economies continue to recover from the impact of Covid restrictions. For the quarter ended June 30, total consolidated throughput was six per cent higher at 2,919,581 TEU compared to 2,751,731 TEU in 2021, said the company. First half expenditure amounted to $231.3 million. This went to upgrading terminals, namely the Manila International Container Terminal (MICT), VICT in Melbourne, ICTSI DR Congo (IDRC) in Matadi, Contecon Manzanillo de CV (CMSA) in Manzanillo, Mexico, and the acquisition of land in the Philippines and in Brazil for new projects. The group's capital expenditure budget for 2022 is US$33 million to go to payment of the concession extension upfront fees at Madagascar International Container Terminal Services Ltd (MICTSL); ongoing expansion at the company's terminals in Democratic Republic of Congo, Australia, Mexico and Philippines; equipment acquisitions and upgrades and for various maintenance requirements.

Shipping loop opens linking central Vietnam, India

PostTime:2022-08-08 09:42:38 View:10

A SHIPPING route linking the central region of Vietnam and India was inaugurated on July 27, reports Hellenic Shipping News Worldwide. India's Vietnam Trade Office Counselor Bui Trung Thuong, declared that India is Vietnam's 8th largest trading partner. Two-way trade is likely to reach US$15 billion this year, on the occasion of the 50th anniversary of Vietnam-India diplomatic ties. Vietnam Maritime Corporation (VIMC) deputy general director Le Quang Trung confirmed that in its development strategy, VIMC considers India an important trading partner of Vietnam. Sea freight rates have increased recently, significantly affecting transport activities of the world. As a way to find a solution, VIMC has implemented market research and expanded new sea routes connecting Vietnam and other regions around the world. VIMC inaugurated a container shipping route linking Vietnam, Malaysia and India in November last year to ease pressure on cargo transportation. Vietnamese ambassador to Bangladesh Pham Viet Chien expressed hope that the route will promote trade between Vietnam and Bangladesh. Mr Pham affirmed that the Vietnamese Embassy in Bangladesh is ready to support Vietnamese and Bangladeshi firms in business connection.

World Container Index off 0.9pc to US$6,761/FEU

PostTime:2022-08-08 09:39:25 View:11

DREWRY'S composite World Container Index decreased 0.9 per cent to US$6,761.63 per FEU this week, the 22nd consecutive weekly decrease, reports Hellenic Shipping News Worldwide. The latest composite index of US$6,762 per FEU is 35 per cent below the peak of $10,377 reached in September 2021. Average composite index for the year-to-date is $8,219 per FEU, which is $4,645 higher than the five-year average.

Panama Canal transits biggest ship by capacity - 16,285 TEU

PostTime:2022-08-08 09:38:16 View:16

THE Panama Canal celebrated the transit of the 16,285-TEU CMA CGM Zephyr, the containership with the largest cargo capacity to ever transit the waterway, reports the American Journal of Transportation. Pre-canal expansion completed in 2016, it was hoped double ship capacity from 4,500-TEU to 9,000 TEU. It rapidly went up to 10,000-TEU and further developments brought it up to 13,000 TEU. On July 1, the vessel completed its return trip through the expanded canal's neopanamax locks, which opened six years ago to accommodate the world's growing fleet of large containerships. The neopanamax containership Zephyr has a total capacity of 16,285 TEU. After calling at New York and Savannah, the Zephyr sailed back southbound through the canal, from the Atlantic to the Pacific Ocean, en route to Qingdao. While the neopanamax locks were initially expected to serve vessels with a maximum of 12,600 TEU the Panama Canal team quickly surpassed this threshold, thanks in part to the experience gained operating the locks and its close collaboration with customers. Since its inauguration on June 26, 2016, the expanded canal has exponentially increased connectivity and reshaped trade, with 180 maritime routes now converging through the waterway, linking 1,920 ports across 170 countries. Today, containerships are the leading users of the third set of locks, contributing 45 per cent of all transits. "There's no better way to mark the anniversary of the expanded canal than with this month's Zephyr transit, which exemplifies the continued growth potential that it offers for our clients," said Panama Canal Administrator Ricaurte Vasquez Morales.  

Chinese electric car maker BYD exports SUVs to Oz

PostTime:2022-08-08 09:35:41 View:13

BYD, the Chinese carmaker that recently overtook Tesla as the world's largest electric vehicle (EV) maker, has boosted its go-global ambitions by sending its first shipment of 1,000 Atto 3 sport utility vehicles (SUV) to Australia, reports Hong Kong's South China Morning Post. The Shenzhen-based carmaker, which is backed by Warren Buffett's Berkshire Hathaway, said that the SUVs would be sold for between A$44,990 (US$32,350) and A$47,990. The SUV, which is known as Yuan Plus in the mainland Chinese market, is the first vehicle BYD has designed and made for the global market. "Chinese EV companies have yet to earn recognition in markets outside the mainland," said Chen Jinzhu, CEO of Shanghai Mingliang Auto Service, a consultancy. "But top Chinese carmakers such as BYD - buoyed by their success on the mainland - are determined to expand their global footprint."

Taiwan turmoil prompts detours and shipping delays

PostTime:2022-08-05 09:29:38 View:17

CHINESE naval drills around Taiwan as US House Speaker over Nancy Pelosi's visit to the island created ripple effects across global supply chains, prompting detours and energy shipment delays, Bloomberg reported. Gas suppliers re-routed or reduced speed on some liquefied natural gas vessels currently en route to North Asia, according to people familiar with the matter. Shipping companies are assessed their options after China¡¯s response to the visit of the highest-ranking US official to the island in 25 years. The actions threaten to disrupt one of the world¡¯s busiest waterways. China, which regards Taiwan as part of its territory, condemned Ms Pelosi's visit and said its military exercises would include "long-range live firing" near Taiwan, as well as more drills encircling the island. Local branches of China¡¯s maritime safety administration have issued multiple warnings for ships to avoid certain territories, citing the military exercises. A notice from the regulator in Fujian, the province along the Taiwan Strait, said ships were banned from sailing into the areas where exercises will be conducted. Taiwan's Maritime and Port Bureau warned ships to find alternative routes to access and depart from seven major ports on the island during China's drills, according to the Apple Daily. Ship managers and shipowners said traffic overall through the Taiwan Strait was normal on and consulting firms reported little impact for oil tankers in the region. But as China ramps up military activity and bans take effect, shippers may need to reroute vessels around the eastern side of the island, rather than through the busy waterway between mainland China and Taiwan.  

CA Shipping orders four boxships from Huangpu Wenchong

PostTime:2022-08-04 09:43:12 View:23

 CA Shipping, an indirectly non-wholly owned subsidiary of CSSC (Hong Kong) Shipping is ordering a quartet of containerships from CSSC Huangpu Wenchong Shipbuilding. Katherine Si | Aug 03, 2022 The total contract value is $110m. CA Shipping has further entered into an option agreement with Huangpu Wenchong Shipbuilding and has purchase options to acquire four more vessels at the same consideration of $110m. The first four vessels are expected to be delivered at the end of July, September, November 2024 and the end of March 2025, respectively. The option vessels are scheduled for delivery in April, June, August and October 2025 if the purchase options are exercised finally.  Related: CSSC newbuild order volume up 147% in January The acquisitions represent a strategic move for the group to expand the proportion of feeder containerships in its vessel portfolio, said CSSC Shipping, the purchase of vessels from CSSC Group and its associates enables the group to secure the earliest possible ship delivery timetable, which will improve the ultimate operation efficiency.

Singapore suspends Glencore’s bunkering license for two months

PostTime:2022-08-04 09:41:23 View:23

The Singapore authorities are suspending Glencore Singapore’s bunkering licence for two months over its role in the sale of contaminated fuel in the world’s largest bunkering port in March this year. Marcus Hand | Aug 03, 2022 The Maritime & Port Authority of Singapore (MPA) has concluded its investigation the sale of bunker fuel which contained high concentration levels of Chlorinated Organic Compounds (COC) and it said previously was sold to around 200 ships in March by Glencore and PetroChina. Around 80 ships reported engine, fuel pump and other issues. The contaminated Heavy Fuel Oil (HFO) was loaded at the Port of Khor Fakkan, United Arab Emirates (UAE) onto a tanker and shipped to floating storage facilities in Tanjung Pelepas, Malaysia to be further blended. It was then delivered to Glencore’s storage facilities in Singapore where part of the cargo was sold to PetroChina. Related: Singapore traces bad bunkers to Khor Fakkan cargo Releasing its conclusions on Wednesday MPA said it found no evidence Glencore or PetroChina had intentionally contaminated the HFO. However, it was discovered that fuel tests on the HFO carried between 21 – 23 March carried out by a laboratory engaged by Glencore contained concentrations of COCs that ranged from approximately 2,000 ppm to 15,000 ppm. While not part of standard ISO 1827 tests such high levels of COCs are also unusual in bunker fuel. Related: 200 ships bunkered contaminated fuel in Singapore The authority said: “MPA’s investigation found that despite this, Glencore continued to supply bunkers blended with the fuel purchased that was contaminated with high levels of COC to vessels in the Port of Singapore from 22 March 2022 to 1 April 2022.  “By doing so, Glencore contravened the terms and conditions of its Bunkering Licence (Bunker Supplier) in failing to ensure that no bunkers supplied by it were contaminated.” In that period a total of 24 vessels were supplied with contaminated fuel by Glencore and at least three vessels reported issues with their fuel pumps and engines as a result. For breaching its bunkering licence the MPA is suspending Glencore’s license for two months from 18 March. “MPA has also asked Glencore to improve its internal procedures to ensure that prompt action is taken in future when it becomes aware of, or reasonably suspects, any irregularity in fuel quality,” the authority said. The MPA is not taking any action against PetroChina which it said promptly stopped supplies of the fuel by 19 March after its own tests showed it was contaminated with high levels of COCs. The port authority stressed it takes compliance with the bunkering regime seriously. “MPA has reminded all licensed bunker suppliers to adhere strictly to the terms and conditions of their licences. MPA takes a serious view of contraventions of the bunker supplier licence terms and conditions, and will not hesitate to suspend or cancel the relevant licences, where necessary,” it warned. The largest bunkering port in the world Singapore bunker sales were 50.04m tonnes in 2021, of which 49.99m was fuel oil.

Xeneta container rates show long-term shipping rates peak

PostTime:2022-08-04 09:23:18 View:21

THE Xeneta Shipping Index (XSI) is 112 per cent higher than this time last year, showing a possible peak, reports the American Journal of Transportation. "The carriers have enjoyed staggering rates rises, driven by factors such as strong demand, a lack of equipment, congestion, and Covid uncertainty, for 17 of the last 19 months," said Xeneta CEO Patrik Berglund. "July has seen yet more upticks across the board, but the signs are clear there is a 'shift' in sentiment as some fundamentals evolve." Mr Berglund notes that July's increases are the slowest since January, with upward pressure on long-term agreements easing as spot rates fall across major trades. "So, indications are there that we may have reached a peak and that prices of new agreements are more likely to hold than suddenly leap up again, as we've become accustomed to seeing of late," said Mr Berglund. "However, that's probably of little comfort to shippers that have been continually battered by a market in overdrive and now see prices stabilizing at historically high levels." "That said, nothing is certain. US and European ports are still congested, industrial action on the logistics chain is spreading globally and, of course, we still have the threat of Covid and its impact on economic activity, particularly in China. There's a lot of variables at play, so it's imperative to stay tuned to the latest intelligence when negotiating long-term contracts to achieve a competitive edge," said Mr Berglund. On a regional basis, July's XSI shows a rise in the global index of 435.2 points and gains across all major corridors.  

Port of Antwerp-Bruges sees slight growth in H1 cargo volume

PostTime:2022-08-04 09:21:42 View:18

THE Port of Antwerp-Bruges handled 147.2 million tonnes of cargo in the first six months of this year, an increase of 1.4 per cent compared to the same period last year, reports the American Journal of Transportation. "Given the current geopolitical and macroeconomic context, this slight growth, despite a decline in the container segment due to ongoing global congestion problems, confirms its strengthened position as a unified port," the port said. Container throughput is down 9.8 per cent in tonnes and 6.2 per cent in TEU compared to a strong first half in 2021. With globally disrupted container liner shipping, vessel delays and high volumes of import cargo, the container trade continues to face operational challenges. Moreover, the throughput of containers related to Russia decreased by 39 per cent due to the war in Ukraine. Conventional general cargo grew strongly by 22 per cent in the first half of the year compared to the same period in 2021 and recorded the highest throughput volume since 2011. The main reason for this is the increase in imports of steel, the most important cargo group in this segment. Steel imports from Russia banned by sanctions are being replaced by imports from other countries. Other product groups, such as wood, plywood and fruit, are also showing growth. Roll-on/roll- off traffic saw an increase of 8.9 per cent. Ro/ro traffic to the United Kingdom and Ireland shows significant growth, with 3.8 million tonnes and 0.6 million tonnes respectively, up 6.8 per cent and 47 per cent compared with the first six months of 2021. The number of new and used cars shows a slight growth of 2.5 per cent and 1.7 per cent, while the number of trucks decreased 19 per cent. Jacques Vandermeiren, CEO of Port of Antwerp-Bruges: "Given the current geopolitical and macroeconomic context, this slight growth is definitely a relief. These figures confirm that we are stronger together as a unified port. The context continues to pose significant challenges, especially in the container segment. Thanks to the merger, we can now offer two complementary platforms as a unified port, significantly strengthening our position in the international logistics chain and as one of the main gateways to Europe."