The downturn in German shipping means that a smaller number of banks have now taken over a large number of feeder vessels from ailing shipowners. This development was noted at Unifeeder in the first half of 2016, as charter prices increased. Yet this trend has turned around, says CEO Jesper Kristensen.
Seago Line, which is owned by Maersk Line, is changing the composition of its executive board, which will go from seven members to four. For the carrier, it will be "business as usual" going forward, says Maersk Line to ShippingWatch.
It is a costly exercise when major carriers transport small cargo volumes to smaller ports and thus achieve a low fleet utilization, according to an analysis which points to major savings by leaving feeder transports to other players.
After presenting a solid profit in the most recent annual report, Maersk Group's European feeder and short sea carrier Seago Line can no longer withstand the downturn in the container industry, says CEO Søren Castbak to ShippingWatch after six months as head of the carrier.
The next battleground for orders among container carriers will be centered on the smaller feeder vessel segment, projects SeaIntel in a new analysis. This indicated by the age profile and the current orderbook, even though the market today is struggling with a vast overcapacity.
Unifeeder's takeover of Norwegian shortsea carrier Tschudi Lines will strengthen the company's Baltic Sea business at a time characterized by declining volumes from the Far East as well as consequences from the Russian crisis, CEO Jesper Kristensen tells ShippingWatch.
Taiwanese Evergreen has just ordered ten new feeder container ships which, according to plan, will be deployed in the intra-Asia trade. An upcoming free trade agreement will create growth opportunities, states the carrier.