By Mike Wackett (The Loadstar) - Japanese carrier Ocean Network Express (ONE) is set to see losses spiral to $600m in its first year, as it struggles to “restore the trust of customers” after the chaotic April launch. ONE has alerted shareholders of K Line, MOL and NYK to a $310m loss for the half-year period to 30 September. Moreover, the merged carrier network has … [Read more...]
About The Loadstar
OOCL Announces Bunker Recovery Surcharge to Cover IMO 2020 Compliance
By Mike Wackett (The Loadstar) - OOCL plans to begin the switch to low-sulphur fuel for its fleet of around 100 container vessels during the second half of next year, in readiness for compliance with IMO 2020. Unlike some of its peers, the carrier has made no reference to scrubber technology that would enable vessels to continue to burn cheaper heavy fuel oil (HFO) from 1 … [Read more...]
Trade War So Far ‘Positive’ for Shipping Companies, But 2019 Looks Less Promising
By Sam Whelan, Asia Correspondent (The Loadstar) - The US-China trade war has seemed “positive” for transpacific shipping lines, so far, with importers rushing to beat tariff deadlines. But there is growing concern that a prolonged dispute would leave shippers with question marks on whether to reorganise their supply chains. APL chief executive Nicolas Sartini … [Read more...]
Container Carriers Sail Towards a Tipping Point of Ocean Freight Rates and Fuel
By Mike Wackett (The Loadstar) - The bellwether Shanghai Container Freight Index (SCFI) did not publish on Monday, due to the national holiday in China, but current sentiment suggests that ocean carriers will find their rates under pressure following the Golden Week break. Last month, the Asia to North Europe component of the SCFI shed 21% to $735 per teu, while for … [Read more...]
Seaspan Diversifies as it Steps In to Take Control and Save Swiber
By Mike Wackett (The Loadstar) - Seaspan, the world’s largest non-operating containership owner, has announced its first significant investment outside the sector, suggesting it intends to diversify its business model. The New York-listed lessor, with an operating fleet of 112 ships, said it planned to invest up to $200m in the restructured Singapore-based oilfield services … [Read more...]