The continuing crisis in international shipping constitutes a massive challenge for German shipowners, who are especially hit by German banks' reticence to provide new loans for ships, says Michael Behrendt, Chairman of the German Shipowners, in a new annual report.
If CMA CGM forms an alliance with UASC and CSCL in the wake of the new collaborative agreement between Maersk Line and MSC, the new alliance would have a market share of around 20 percent on the container trade between Asia and Europe, says Alphaliner.
Even though new terminals are being built in the ports, carriers will often sail to the old ones unless the ports' governments intervene. This means that capacity in the new ports are far from optimally utilized, says Drewry.
While the US is planning to ease its grip on the country's crude oil exports, a new rival has entered the field. Iran is now selling cheaper high quality oil to China, leaving little room for the US, according to Reuters.
On paper it looks like a formality for Maersk Line and MSC to secure an approval for 2M, their replacement for the collapsed P3 alliance, but the process and the close monitoring of the alliance will remain unchanged, FMC Chairman Mario Cordero tells ShippingWatch.
The number of banks with stakes in Torm has dwindled down to five. The Chinese are completely out, and now the decision regarding the future ownership structure is de facto in the hands of European banks.
DNB remains challenged by loans to the shipping industry, though the bank predicts improvements in 2014 and 2015. But many new ships in both dry bulk and tanker could disrupt a potential rebound, says the bank.