By Mike Wackett (The Loadstar) - With the containership charter market in the doldrums, demolition sales have picked up, with reports of a number of vessel sales. Among them is the 1998-built 9,600 teu Sine Maersk (pictured above), which has been sold to Turkish breakers and will become the largest containership ever sent for recycling. According to vesselsvalue.com, the … [Read more...]
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Carriers Accused of ‘Profiteering from the Crisis’ Get Benefit of the Doubt for Now
By Mike Wackett (The Loadstar) - After better-than-expected first-quarter results, ocean carriers have upgraded their financial guidance, despite the impact of the pandemic. However, they are being accused in some industry circles of “profiteering from the crisis”. Container spot rates have soared on the major tradelanes as aggressive carrier capacity management … [Read more...]
Ocean Alliance Takes the Lead on Asia-Europe Market Share
By Mike Wackett (The Loadstar) - The Ocean Alliance has overtaken the 2M alliance, adding the market share lead on the Asia-Europe tradelane to its already dominant position on the transpacific. The vessel-sharing alliance of CMA CGM, Cosco (including OOCL) and Evergreen did not follow rivals 2M and THE alliances in temporarily suspending an Asia-North Europe loop through to … [Read more...]
More Transatlantic Blankings Unveiled as New Trade War Threatens
By Mike Wackett (The Loadstar) - 2M partners Maersk and MSC have extended the suspension of their TA4/NEUATL4 transatlantic loop through to September. The service, which deploys five vessels with an average capacity of 5,300 teu and has a rotation of Antwerp-Rotterdam-Bremerhaven-Liverpool-New York-Savannah-Port Everglades-Savannah, was originally suspended until mid-June … [Read more...]
Reversal of Fortune for Box Carriers as Charter Rates Tumble
By Mike Wackett (The Loadstar) - Ocean carrier optimism is being driven by higher freight rates and cheaper fuel – but tumbling charter hire costs are proving to be the icing on their cake. According to a recent Alphaliner report, containership daily hire rates have slumped by up to 50% since the coronavirus pandemic wrecked global demand and led container lines to off-hire … [Read more...]