The Donald Trump Shipping Stock Boom
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- Published on Sunday, 20 November 2016 18:34
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Euroseas is a tiny Greek shipping company with a fleet of 12 vessels and a penny stock traded on Nasdaq. On Tuesday, Euroseas’ shares rose by 100%. Since Donald Trump was elected president, Euroseas’ stock has nearly quadrupled. Seanergy Maritime, another small dry bulk shipping company that moves grain and coal, saw its shares soar by 75% on Tuesday. Shares of DryShips, a Greek shipping company that recently looked like it could be headed for bankruptcy, have climbed by 1,400% since Election Day.
President-Elect Trump’s initial impact on financial markets has been seismic, steepening the yield curve, sending copper prices soaring and sparking a broad stock rally in most sectors outside of technology. But one of the most bewildering and out-sized moves has been in
Stormy Seas Ahead For Shippers Following Hanjin’s Bankruptcy
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- Published on Wednesday, 21 September 2016 04:18
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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
INDIA: Container trade grows four times global pace
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- Published on Monday, 19 September 2016 04:08
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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
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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,
Hanjin Ship Unloading at Long Beach After Bankruptcy Ruling
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- Published on Tuesday, 20 September 2016 18:17
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Bloomberg
- About $14 billion of cargo left stranded on Hanjin’s ships
- Other Hanjin vessels close to port are also expected to unload
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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
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- Published on Wednesday, 07 September 2016 02:57
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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,