By Mike Wackett (The Loadstar) - A perfect storm of radical capacity cuts by carriers and US president Donald Trump’s threat to hike tariffs on Chinese goods could see many more containerships laid-up, according to Alphaliner. Yesterday, The Loadstar reported shipping association BIMCO’s warning that over a quarter of container trade on the transpacific could be at risk … [Read more...]
Big Spike in Containership Lay-Ups Mid-Peak Season a Worry for Owners
By Mike Wackett (The Loadstar) - Alphaliner’s bellwether containership idle tonnage data has recorded a big spike in vessels being consigned to lay-up, shifting the supply-demand balance back in favour of the charterer. The consultant said the capacity of the idle tonnage fleet had risen to 341,000 teu by the end of July, representing 1.6% of the total global cellular … [Read more...]
US Withdrawal from Iran Deal Could Have ‘Significant’ Impact on Transport and Logistics
By Gavin van Marle (The Loadstar) - The response of the remaining countries to the US decision to withdraw from the Iran nuclear deal will likely determine whether non-US maritime and freight forwarding companies can continue trading with the country. The JCPOA [Joint Comprehensive Plan of Action] was signed by Iran, the EU, and the P5+1 – the five permanent members of the … [Read more...]
Good Times Roll for Container Lessors as Carriers Shy Away from Buying Equipment
By Mike Wackett (The Loadstar) - Container lessors are enjoying a purple patch, as demand remains strong, driven by solid growth in global container trades and shipping lines opting to hire equipment rather than buy. In its latest review of the market, Drewry says the move by carriers towards leasing boxes and away from ownership “continues unabated”. “Leasing companies … [Read more...]
ONE Unveils Strategy for Billion-Dollar Cost Savings and Million-Dollar Profits
By Mike Wackett (The Loadstar) - Japanese shipping groups K Line, MOL and NYK, now operating as the Ocean Network Express (ONE) joint-venture, have unveiled their business plan, identifying more than $1bn a year in expected synergy cost savings. The three carriers have signed off their final annual accounts covering the period before the transfer of their container … [Read more...]