High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
HONOLULU — Honolulu-based Pasha Hawaii this week announced the signing of a contract with VT Halter Marine, Pascagoula, MS, for the construction of a ship to enter the Hawaii/Mainland trade lane. The ship’s base price is $144 million and is estimated to deliver in the fall of 2013. Pasha Hawaii is currently negotiating with several sources for financing.
The new ship represents the second vessel to join Pasha Hawaii’s fleet, and will allow the company to provide weekly service between the West Coast and Hawaii. The company also signed an option agreement for the construction of a third vessel with a base price of $137 million.
This will be the second Roll-On/Roll-Off Car Truck Carrier built by VT Halter for Pasha Hawaii based on a proven design by the Uljanik Shipyard, Croatia. The Uljanik and VT Halter Marine engineering teams are collaborating with Pasha to finalize the new ship’s design and engineering specifications. This will ensure the highest level of operating efficiencies as well as reduced environmental impacts. VT Halter Marine is beginning performance on the contract immediately.
The MV Jean Anne, Pasha’s first vessel, was put into service in March 2005. Pasha Hawaii CEO, George Pasha, IV, notes, “Building a second ship has always been part of our organization’s plan. The level of enthusiasm and customer support we received when we deployed our first vessel was well beyond our expectations. Our second vessel will both better serve the Hawaii/Mainland market and also provide increased frequency and superior reliability. A weekly sailing will also allow us to present even more tailored transportation solutions to our clients.”
The MV Jean Anne, now approaching her seventh year and her 150th voyage, was designated the “Ship of the Year” by American Ship Review in her first year of service. Her crew and vessel operations have been recognized by the Chamber of Shipping of America with awards for outstanding safety and environmental achievement.
Pictured: M/V Jean Anne courtesy Pasha Hawaii
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