Sea

European exporters still up against it, but equipment shortages are easing

Blank sailings, escalating freight rates and a shortage of equipment continue to hobble European exporters.
Shippers to Asia and the US are facing lengthy delays and uncertainty for container bookings as the knock-on effect of short-notice carrier blanking programmes plays havoc with supply chains.
As a consequence, rates have soared, particularly to Asia where they have doubled in the past year, and in some instances are being increased after containers have been …

The post European exporters...

https://theloadstar.com/european-exporters-still-up-against-it-but-equipment-shortages-are-easing/

Demand spike and blank sailings make US importers scramble for capacity

Just as their inbound flows are building up, US importers are facing tight capacity on the water, chiefly out of Asia.
“We had at least two conference calls with customers and shipping lines about this in the last few days,” reported Bob Imbriani, senior vice-president international of forwarder Team Worldwide.
“It’s more difficult to get space, and you have to book earlier,” he added.
Waterborne US imports from Asia in June were 9.5% …

The post Demand spike and blank sailings make US importers...

https://theloadstar.com/demand-spike-and-blank-sailings-make-us-importers-scramble-for-capacity/

Shippers pressured into no-roll premiums as full ships give carriers the edge

Shipping lines are using rollovers to bump up freight rates, ‘forcing’ the vast majority of shippers to pay no-roll premiums.
According to Cas Pouderoyen, head of ocean freight at Agility, around 80% of shippers feel they have to pay premiums of $400 to $500 per container on the deepsea trades.
“Otherwise, odds are, you’re going to be rolled,” he said.
“That’s happening with cargo going Europe-to-Far East, Far East-to-Europe and transpacific-eastbound. The latter …

The post Shippers pressured...

https://theloadstar.com/shippers-pressured-into-no-roll-premiums-as-full-ships-give-carriers-the-edge/

Crisis looming for global shipyards as orders for new containerships ebb

With global demand expected to contract by some 10% this year, due to the impact of the pandemic, blanked sailings are likely to be increasingly common feature among liner networks.
As a consequence, ocean carriers are reviewing their capacity growth plans and, in addition to doubling down on off-hiring surplus chartered tonnage, they are also shunning the newbuild option.
With so much surplus capacity on the water, the big non-operating owners are …

The post Crisis looming for global shipyards...

https://theloadstar.com/crisis-looming-for-global-shipyards-as-orders-for-new-containerships-ebb/

Crew change crisis and who has failed to act…

An angry article about seafarers and crews stuck at sea, in Splash24: the Wallem group’s Frank Coles admonishes all the relevant parties who have failed to act, noting that a 13-country conference held last week changed nothing – and represented less than 50% of all seafarers. He calls some politicians “despicable”, Maersk “disappointing” and says the maritime industry must review the way it makes decisions. A compelling, passionate read.

The post Crew change crisis and who has failed to act…...

https://theloadstar.com/crew-change-crisis-and-who-has-failed-to-act/

On the wires: Evergreen convertible debut – Taiwan honeymoon over?

“The board of directors resolved to issue the first overseas unsecured euro convertible bonds.” – Evergreen Marine Corporation, 9 July 2020.
If anything, last week’s announcement by Taiwanese carrier Evergreen Marine means that there isn’t enough cash to spare in Taiwan to bail out all the container shipping companies in need of fresh funding there – or just to fund their overly ambitious projects.
Reminder: in early June, Evergreen told The Loadstar that it applied for …

The post On the wires:...

https://theloadstar.com/on-the-wires-evergreen-convertible-debut-taiwan-honeymoon-over/

As UK freeport consultation ends, Teesside eyes ‘investment and jobs boost’

The UK government will on Monday end industry consultation on proposals to build up to 10 freeports around the country following its formal departure from the EU.
According to partners at UK law firm Dentons, the government has three main aims from the development of freeports: to serve as national hubs for global trade and investment across the UK; to promote regeneration and job creation; and create hotbeds of innovation.
A freeport is …

The post As UK freeport consultation ends, Teesside eyes...

https://theloadstar.com/as-uk-freeport-consultation-ends-teesside-eyes-investment-and-jobs-boost/

Australian supply chains threatened by containership crew-change crisis

As the crew-change crisis inexplicably drags on, Shipping Australia has warned that vessels will soon be detained, blocking the country’s ports and disrupting supply chains.
“Commercial mariners, Australia and international shipping are now at crisis point,” said the carrier lobby group.
“Seafarers are being forced by government rules to combat Covid-19 to stay at sea for months beyond what they originally agreed – we have heard of seafarers being required to stay …

The post Australian supply...

https://theloadstar.com/australian-supply-chains-threatened-by-containership-crew-change-crisis/

Analysis: DSV & CMA CGM ahead – pick the jockey dumped by the horse

Gone are days like at the end of the last summer when too many, me included, were slightly worried about the financial health of French carrier CMA CGM whose rally on the bond market of late has been one of the most remarkable, let alone impressive and memorable, in recent times.
It was almost as good as DSV Panalpina’s, in fact, on the equity markets.
Is that right?
The CMA CGM performance reads: …

The post Analysis: DSV & CMA CGM ahead – pick the jockey dumped by the horse appeared first on The...

https://theloadstar.com/analysis-dsv-cma-cgm-ahead-pick-the-jockey-dumped-by-the-horse/

Strong demand on Asia-Europe sees carriers hike rates and bring in surcharges

Demand remains strong on the Asia-North Europe trade, with full ships encouraging carriers to increase rates and introduce peak season surcharges (PSSs).
CMA CGM today announced an increase in its 40ft FAK rate of $100, to $2,300, effective 1 August, and has introduced a $200 per teu PSS for July, which it is yet to extend into August.
Today’s Shanghai Containerized Freight Index (SCFI) recorded a 1.4% increase in the spot rate …

The post Strong demand on Asia-Europe sees carriers hike rates and...

https://theloadstar.com/strong-demand-on-asia-europe-sees-carriers-hike-rates-and-bring-in-surcharges/

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