Chang Yung-fa, Photo By Pan Suofei/ColorChinaPhoto

According to Forbes, the net worth of Evergreen’s Founder and Group Chairman, Chang Yung-fa, is in the range of $1.6 Billion, and he is listed number 782 among the world’s billionaires.

Born in Penghu, an island chain off the western coast of Taiwan in 1927, he entered the shipping business directly after high school in Taiwan and over the years he progressed through the ranks to that of Captain.

In 1968, he struck out on his own to establish Evergreen Shipping with a single secondhand 15,000 ton vessel, Central Trust.  Over the next few years, his one ship quickly multiplied to a fleet of 12, and shortly thereafter, his now global, and rapidly growing fleet was calling on ports worldwide on a regular basis.

Employing over 27,000 employees and more than 220 offices/agents worldwide, the Evergreen Group now comprises about 30 major corporations worldwide, 3 of which are listed on the Taiwan Stock Exchange.

In a report by Taipei Times today, Chang Yung-fa announced he would bequeath all the assets listed in his name to charities, and not his children, as a way of giving back to society and having his money perform good deeds long after his death.

During a tea party with reporters, Chang defined true wealth as being able to help people and give back to society.

“Money is something that should be circulated around the world and not enjoyed exclusively by one individual,” he said. “A lot of people think that earning a lot of money constitutes wealth. For me, working hard to earn a lot of money is certainly not a bad thing, but the happiness from earning a lot of money is fleeting because of the pain you feel when you lose it.”

“But if that money is used for good deeds, it’s wonderful to see people get back on their feet because of the help you’ve given. The happiness gained from doing a good deed always remains in your heart,” Mr. Chang said.

Chang also said that young people should depend less on their parents. They should fight for their future themselves and learn to shoulder responsibility.

Estimated New Containership Deliveries by Carrier in 2012. Source: Alphaliner

Container shipping industry analyst Alphaliner said today that overcapacity in the liner industry will continue into 2012 as supply growth continues to accelerate.

In their weekly report, Alphaliner projected that the net growth of the world cellular containership fleet is expected to grow by 8.3% in 2012, compared to the 7.9% growth seen in 2011.  Alphaliner adds that some 253 cellular containerships with the combined capacity of 1.47 million TEU’s are planned for delivery this year.

Alphaliner says that the 8.2% fleet growth that is expected for 2012 will present a serious challenge for the industry and orderbook bias toward larger ships will worsen the oversupply afflicting the main East-West trades.  The report notes that of the expected deliveries in 2012, 49% are concentrated in ships of above 10,000 teu.

“The container market has been witnessing a significant correction during the last six months and has now entered into the traditionally low period which usually lasts until after the Chinese new year (end of January for 2012) when volumes start to pick up again. We had four vessels opening up during this challenging period. We are happy to have been able to extend the time charter on the Despina P and our decision to accelerate the scheduled dry docking of the Captain Costas reflects our belief that we can utilize currently idle time so that the ship will not need to lose time in the summer when we expect to see improvements in the market. We have also been able to fix employment for the containership Jonathan P for a minimum of 21 to a maximum of 70 days so the only vessel currently idle is the containership Marinos (ex YM Port Kelang). We continue to believe that provided the world economy grows at levels close to the 4% mark we should see a reversal of the fortunes of the container sector as of Q2 2012. We also think that the presently soft market may offer us opportunities to buy further vessels in both the container and drybulk sectors at depressed prices and we continue to scan the markets accordingly.”

Euroseas announced today that one of their subsidiaries has extended for approximately one year (until March 1, 2013) its time charter agreement, for the vessel Despina P, a 1932 teu, 1990 built Handysize containership, at a gross daily rate of $7,000. The new rate will commence on January 19, 2012.

Following the above mentioned charter, approximately 30% of Euroseas’ total container fleet days for 2012 and approximately 6% in 2013 are secured under period charters.

Furthermore, the Company has decided to accelerate the scheduled dry docking of the containership Captain Costas and perform it during this challenging period. The dry docking was originally scheduled for the summer of 2012.

About Euroseas Ltd.

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas trades on the NASDAQ Global Market under the ticker ESEA since January 31, 2007.

Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2000 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.

The Company has a fleet of 16 vessels, including 4 Panamax drybulk carriers and 1 Handymax drybulk carrier, 3 Intermediate containership, 5 Handysize containerships, 2 Feeder containerships and a multipurpose dry cargo vessel. Euroseas` 5 drybulk carriers have a total cargo capacity of 331,808 dwt, its 10 containerships have a cargo capacity of 17,787 teu and its multipurpose vessel has a cargo capacity of 22,568 dwt or 950 teu.

The CMA CGM TITAN boasts impressive technical features combining environmental technology with high performance. Like other comparable-in-class vessels in CMA CGM’s fleet, the CMA CGM TITAN is equipped with the Fast Oil Recovery system, an electronically controlled engine and a twisted leading edge rudder. A host of innovations means the CMA CGM Group can offer customers an even more efficient and competitive service, while taking into account sustainable development issues, in line with its commitments and values.

The CMA CGM TITAN is deployed on the Group’s flagship lines linking Asia to Europe, the historic “French Asia Line” and calls at strategic ports in Asia and on the European Atlantic side. These high-capacity have become indispensable for CMA CGM Group, allowing the company to scale with the growth in Asian exports and the resulting demand for transportation.

Photo via MarineTraffic.com

Available online to all CMA CGM customers, the calculator produces an accurate calculation of the carbon footprint of a journey, based on real data including points of departure and arrival, volume of freight, fuel consumption and vessel speed.

Developed according to the methodology of the CCWG (Clean Cargo Working Group), this eco-calculator will be the first to be verified by the Bureau Veritas.

“Our new tool is extremely reliable and means we can now supply customers with very accurate data about their carbon footprint. We hope this eco-calculator will prove a useful tool in the decision making process and will help customers to determine the optimal mode of transport from an ecological point of view,” explains Philippe Borel, Environment Director for the CMA CGM Group.

Reducing its environmental impact has been for long one of the key objectives of CMA CGM Group, the world’s third largest container shipping group. Combating climate change, preservation of the oceans, proposing eco-friendly solutions to customers and developing an environmentally aware culture within the company are key components of its policy.

CMA CGM has already seen a 26% drop in CO2 emissions between 2007 and 2010 (from 107 to 85 grams/kilometre-teu). The target is 80g/km-teu by the end of 2012, a reduction of 30% in five years.

Starting in April CMA CGM Group, the world’s third largest container shipping company, will make available an ‘eco-calculator’ to help its customers accurately measure the carbon footprint of a journey.

Available online to all CMA CGM customers, the calculator produces an accurate calculation of the carbon footprint of a journey, based on real data including points of departure and arrival, volume of freight, fuel consumption and vessel speed.

Developed according to the methodology of the CCWG (Clean Cargo Working Group), this eco-calculator will be the first to be verified by the Bureau Veritas.

“Our new tool is extremely reliable and means we can now supply customers with very accurate data about their carbon footprint. We hope this eco-calculator will prove a useful tool in the decision making process and will help customers to determine the optimal mode of transport from an ecological point of view,” explains Philippe Borel, Environment Director for the CMA CGM Group.

Reducing its environmental impact has been for long one of the key objectives of CMA CGM Group, the world’s third largest container shipping group. Combating climate change, preservation of the oceans, proposing eco-friendly solutions to customers and developing an environmentally aware culture within the company are key components of its policy.

CMA CGM has already seen a 26% drop in CO2 emissions between 2007 and 2010 (from 107 to 85 grams/kilometre-teu). The target is 80g/km-teu by the end of 2012, a reduction of 30% in five years.

London, 10 January 2011 – Drewry Shipping Consultants believes that the industry has emerged from the global recession with both carrier profitability and demand figures bearing this out, but still ask whether or not the industry has learnt anything? The fact that no major companies went to the wall still seems to have insulated the industry from the despair of 2009 and there is now the feeling that perhaps the dark days did not happen. In essence, Drewry observes that it is back to normal operating conditions.

A number of carriers have come back into the newbuild market, believing it is the right time to buy again despite the fact that bank financing is now much more circumspect. Hapag- Lloyd, CSAV, OOCL and Hamburg Sud have all placed significant orders since September and we are awaiting AP Moller Maersk to confirm its supposed order for a number of huge 18,000 teu vessels from a South Korean yard which will take the industry into new territory. Other players including Hanjin, CSCL and Evergreen have indicated that they will also place further orders and a new breed of Greek owners, attracted by potential healthy returns when compared to the now moribund tanker and bulk markets, are coming to the fore.

Financial prudence is disappearing

Drewry points out that in 2010, ocean carriers acted prudently with a keen eye on the supply/demand balance and most importantly on profitability. However, as the year ended, all the indicators pointed to the fact that the largest carriers are now gearing up for a fight for market share in 2011 which will inevitably lead to a decline in freight rates.

Neil Dekker, editor of the Drewry Container Forecaster, said: “Unfortunately, the desire to maintain market share seems to be the primary driver in the east-west trades at the moment since carriers have resolutely refused to take out capacity from the market place despite the fact that headhaul utilisation factors were in the low 80’s (mid-December) and spot rates were falling steadily week by week. Although carriers have released record or near-record financial results for 3Q, this is not a time for complacency, concentrating on market share Embargoed until 24hrs GMT instead of profitability. The trends being displayed are the same as have been evident in recent times and are usually the precursor of a downwards spiral in the market.” He added: “Perhaps the biggest carriers are happiest with no long-term profitability as long as they have market share. However, the utopia of freight rate stability sought by shippers seems a long way off if carriers abandon their short-lived prudence and profitability.”

Rates to fall in 2011

In the latest Container Forecaster Drewry projects that the global fleet forecast will grow by 8.5% in 2011 and much of this capacity in the 8,000+ teu sector, cautioning that carriers will need to be extremely careful in their deployment strategies if they are not to upset the supply/demand scenario. However, current behaviour suggests lines are reluctant to shed excess tonnage and we do not expect the same intensity of lay ups as previously seen. Drewry’s projection is that average east-west rates (excluding fuel) will fall by 7% next year and after a strong rebound in 2010, carrier profitability will fall back into the $8 billion range, although this could be considerably lower if carriers’ pricing and capacity discipline weakens further.

Drewry indicates, one noticeable factor is the rise of the smaller carriers in the east-west trades lanes. Although the smaller carriers are deploying relatively small ships, the biggest players have now become more wary of them and no longer wish to relinquish market share. This time round, carriers have already trimmed all the fat they can from their operations and any future downturn could potentially be more telling.

Dekker cautions that, “Just before the crucial contract re-negotiation period, carriers are passing any aces to their customers once again, but shippers maintain that they do not necessarily just want low rates – they also want a sufficiently reliable service. The Federal Maritime Commission is also suggesting that both parties talk to each other more, but unfortunately, it seems that some carriers are not necessarily heeding this message. However, it is also time for shippers to bring more detail and information to the negotiating table and anecdotally we hear that this process is starting to happen.”

The Journal of Commerce has just released it’s rankings of the Top 40 Container Lines by import and export volumes based on data from the first nine months of 2010.  While the JoC website strictly restricts it’s content to “member’s only”, here is the press release telling a little about this year’s list.  If any of its dedicated members want to hint at the top 10 in the comments, we won’t tell anyone.

The Journal of Commerce Ranks US Top 40 Container Carriers, MSC Rises to No. 1 in Exports, Maersk Holds Imports Lead

NEWARK, N.J.:  U.S. import and export volume carried by top ocean carriers expanded a combined 12.2 percent this year, shifting market share percentages and highlighting capacity concerns for 2011, reports The Journal of Commerce today in its Top 40 Container Lines ranking and special report.

Total exports increased by 8 percent and imports by 15.3 percent, but overall trade still lags pre-recessionary 2008 numbers by 6.4 percent. Based on exclusive data from PIERS, a sister company of The Journal of Commerce, the ranking Top 40 carriers moved 98.2 percent of the United States’ 8.6 million TEUs of containerized exports and 99 percent of the 12.4 million TEUs of containerized imports.

Mediterranean Shipping Co.’s exports market share grew to 11.8 percent from January to September 2010, bringing it above Maersk Line into No. 1. In import volumes, Maersk grew 6.5 percent and maintained its top position, but growth from MSC in imports narrowed its previous market share lead.

APL, Hanjin and Hapag-Lloyd also experienced market share gains that pushed their rankings higher. Hainan PO Shipping — a carrier operating between China and Southern California — began U.S. service in September and joined the list at No. 40.

Port changes to chassis handling and expansion projects currently under way will produce expanded footprints and capacity for 2011. But, with U.S. trade volume predicted to grow 7 to 8 percent a year, a rapid return to the overload felt a few short years ago may be an inevitable compromise for recovery.

The Container Shipping Information Service recently launched its new website shipsandboxes.com to provide information to the public, businesses and media on the importance of container shipping in our everyday lives.

The Container Shipping Information Service (CSIS) is an organisation, formed in 2007, comprising 23 of the largest container shipping companies across the world. CSIS was formed to give the global container shipping industry a voice with which to communicate with the world.

Normally people do not give the world of container shipping a second thought. Yet, without it, modern life would not exist in the way we know it. In this context, the aim of CSIS is to encourage an understanding and appreciation in the wider world about the container shipping industry, and to show the benefits that it brings to our everyday lives.

The CSIS website, www.shipsandboxes.com, provides a one-stop shop of information about the industry, accessible to anyone in the world, so that consumers, businesses, journalists and any other interested parties can find CSIS’ views, facts and figures at the touch of a button.

The site focusses on four key topics: environment, globalization, innovation and security.  However, within its pages there is a wealth of information and resources. that works great for educating the general public on the container shipping industry.

Maritime Industry Custom Search Engine

Our first stop in researching any maritime related topic is our own Maritime Industry CSE. It’s a powerful resource since it provides search results with the aid of google’s powerful search database and algarithims. Actually the only difference between it and google.com is the fact that our tool narrows the results down and only displays sites that pertain to large ships.

*Tip: Try the “incidents” refinement to narrow down the results even further.

The Maritime Incident Casebook

If you are looking for trusted information on incidents as they happen then MAC should be your first stop. Be sure to visit their podcast section as well as their links page which contains a list of the best maritime resources for incident prevention.

Searates.com Container Shipping References

For those looking for data that specifically pertains to Container Ships, head over to Searates’ Container Ship Reference Book. Not only is it full of Web 2.0 eye candy, it also has some great hard data.

*Tip: Its shipping lines section has links to both Cosco and Hanjin. By visiting Cosco’s site you will quickly learn they have removed their official “Cosco Busan” statement from Nov 11th.

gCaptain’s Maritime News Mash-up

For breaking news your first stop should be our Maritime News Discoverer but a close second is our Maritime News Mash-up which is automatically updated with the industry’s most trusted news sources.

*Tip – Also take a look at our gCaptain News and Maritime Blog Mash-ups

The Council of American Master Mariners

For those looking for expert opinion from Ship Captain’s we hope you contact us… but your next stop should be CAMM. Contact them directly for contacts from the Maritime Expert Database.

Maritime Executive Magazine

Traditional media is know for making small errors when reporting maritime incidents. To obviate this problem subscribe to MAREX’s FREE weekly newsletter. It is published every Thursday and is written by professional journalists with maritime backgrounds. For past articles click HERE.

*Tip: If you are more interested in weekly blog postings check out Fred Fry’s Maritime Monday

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If you have a reference site of interest please submit it to our Maritime News Discoverer under the category “Links“