Stormy Seas Ahead For Shippers Following Hanjin’s Bankruptcy
- Details
- Category: Marina Mercante
- Published on Wednesday, 21 September 2016 04:18
- Written by Administrator2
- Hits: 568
iBy Michael McDonald - Sep 16, 2016, 5:25 PM
CDT
The Hanjin Shipping Company bankruptcy is starting to have ripple effects for others in this transportation sector. Hanjin is in competition with dry bulk carriers such as Safe Bulkers, Inc. (SB), Diana Shipping Inc. (DSX), and Scorpio Bulkers Inc. (SALT) who all lease cargo containers like that of Hanjin. Those competitors along with container leasing firms like Textainer (TGH) are all going to see major business impacts from Hanjin’s collapse.
The shipping sector is likely to see both short-term disruption push prices higher, while in the longer term the fight for Hanjin’s previous customers could erode pricing discipline. For firms like Textainer that rely on strength in container pricing, the bankruptcy can only be interpreted as
Hanjin Ship Unloading at Long Beach After Bankruptcy Ruling
- Details
- Category: Marina Mercante
- Published on Tuesday, 20 September 2016 18:17
- Written by Administrator2
- Hits: 553
Bloomberg
- About $14 billion of cargo left stranded on Hanjin’s ships
- Other Hanjin vessels close to port are also expected to unload
Share on FacebookShare on Twitter
A Hanjin Shipping Co. vessel began unloading its part of $14 billion worth of cargo Saturday morning at the Port of Long Beach in California after a U.S. court granted the company a reprieve from having its assets seized, easing a cargo bottleneck resulting from the container line’s filing for bankruptcy protection.
The Hanjin Greece had been stranded near Long Beach since Aug. 31 after its parent company filed for court receivership in South Korea. Port workers began taking its cargo ashore at 8 a.m. local time and should continue until Sept. 12,
Global container ship demolition forecast upgraded
- Details
- Category: Marina Mercante
- Published on Wednesday, 07 September 2016 02:57
- Written by Administrator2
- Hits: 545
Kari Reinikainen, Special Correspondent |
Sep 06, 2016 3:18PM EDT
JOC
BIMCO
increased its projection for the number of twenty-foot-equivalent units that ship scrapping would take out of circulation this year by 150,000.
BIMCO has significantly increased its forecast for demolition sales of container vessels as the market continues to suffer from substantial overcapacity.
In a report published Tuesday, chief shipping analyst Peter Sand said BIMCO now expects 400,000 twenty-foot-equivalent units to leave the market through demolition sales. In January, he forecast 250,000 TEU. The figure in 2015 was about 200,000 TEUs.
The global container ship fleet now stands in excess of 20 million TEUs while newbuildings added 85 ships with a total capacity of 598,000 TEUs by early August. In the same period,
INDIA: Container trade grows four times global pace
- Details
- Category: Marina Mercante
- Published on Monday, 19 September 2016 04:08
- Written by Administrator2
- Hits: 530
The Hindu
Container trade grows four times global pace
Reuters
BOX BOOST:Overall global containerized trade grew 2.8 per centin the first half. File photo
×
Containerized foreign trade grew 11% in H1
A recovery in the U.S. economy and various measures taken by the Centre helped India register a 11 per cent jump in containerized foreign trade in the first-half of 2016. The rate of growth was four times the pace in worldwide containerized trade in the period, according to a report by Maersk Group, owner of the world’s biggest container shipping company.
In its first ever trade report on India titled ‘India, a silver lining in global trade’ the Maersk Group, which has a dozen companies operating in India,
PENSION RIGHTS 0F SPANISH SEAFARERS WHO FORMERLY WORKED ON NORWEGIAN SHIPS
- Details
- Category: Marina Mercante
- Published on Monday, 11 July 2016 21:50
- Written by Administrator2
- Hits: 535
cmngkasmngi
COMPLAINT TO THE EUROPEAN COMMITTEE 0F SOCIAL RIGHTS AGAINST THE KINGDOM 0F NORWAY - REGARDING THE PENSION RIGHTS 0F SPANISH SEAFARERS WHO FORMERLY WORKED ON NORWEGIAN SHIPS
https://rm.coe.int/CoERMPublicCommonSearchServices/DisplayDCTMContent?documentId=09000016806421dc