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Among the three major European container lines covered by credit rating agency Moody's, Maersk is hit the hardest by the coronavirus. But CMA CGM and Hapag-Lloyd are also impacted by the outbreak, Moody's states.
Maersk Container Industry has found its new CFO in an industry far from shipping and container production. He will start in May.
In the past month, container shipping lines have voided almost half of the planned departures from Asia to North Europe due to the spread of Coronavirus, reports Alphaliner.
The repayment time for a scrubber currently stands at one year. This means that shipping companies with scrubbers installed face two options. One of these could create the basis for a rate war on Asia-Europe in 2021, projects Sea-Intelligence.
Several shipping lines have reopened offices in China, which have been closed due to the coronavirus outbreak. Others are working toward a return to normal operations. The death count of the virus has gone down for the first time, and China hopes to see the end of the outbreak in April.
In order to match both alliance partners and competitors, Hapag-Lloyd plans to order six new 23,000-teu container ships, the shipping line tells ShippingWatch. Several port investments are also being planned.
The EU's work program states that the container lines' consortia block exemption regulation will be extended by four years before long. This makes the organizations opposed to the regulation voice fierce criticism of the EU Commission.
South Korea's HMM concedes there might be a concern in the container sector over how the coronavirus could affect the market – at least in the short term, the carrier comments to ShippingWatch.
The coronavirus outbreak could impact container growth in 2020, projects Alphaliner. The outbreak is starting to "have a substantial impact on the maritime industry." HMM sees concerns of a short-term drop in trade volumes.
The good news for container majors is that they have become better at arriving on time. The bad news is that more than one in five containers still arrive late, according to new figures on the full year 2019.
The price for new containers is under severe pressure with growing competition and uncertainty in the industry. Prices for all container types went down in late 2019, reports Drewry.
The container shipping lines have not been able to push the costs of the new sulfur regulations on to customers in January. At least not when looking at backhaul voyages, notes analyst firm Sea-Intelligence.
The net result for Cosco's container and terminal business is expected to grow by 449 percent in 2019. The acquisition of OOIL in 2018 has boosted the result significantly.
2019 saw container volumes slide on the eastbound Transpacific trades for the first time since 2009, reports Alphaliner.
Japanese container carrier ONE will soon launch its strategy for the coming years, having absorbed the bulk of synergies from the merger. New mega-vessels are already on the table, ONE tells ShippingWatch in an interview.
Growth will continue this year in the global container fleet, where capacity is set to increase by 3.5 percent to almost 24 million teu, reports Alphaliner.
According to Lloyd's List, container shipping line PIL is behind on its bunker payments. Sources say that at least one supplier is considering arresting ships. A spokesperson form the shipping company denies financial problems.
1.2 million extra teu will be deployed this year on the world's container routes, and this includes several ultra-large vessels. New orders will be kept in check by three factors in particular, projects analyst firm Drewry.
The balance between supply and demand on the container market has gained a momentum that could last for the next few years, Hapag-Lloyd CEO Rolf Habben Jansen says in an interview with ShippingWatch. One factor above all will keep supply low.
Last year, two shipping lines pulled the plug on services with small container ships sailing between the Far East and Europe. A final farewell to small sizes on this route, writes Alphaliner, which has examined the growing ship sizes.
In the second quarter, South Korea's HMM will receive the first of a number of large container vessels, while another year with high uncertainty has commenced, CEO says in New Year's address.
While Dutch Seatrade noted a setback after many years of being the world's by far biggest shipping company in specialized reefer transport, Russia's Baltic Reefers has manifested its position as the world's number one.
Data, and the correct data, is a vital piece of information if you aim to reduce a company's carbon footprint from, Global Sustainability Manager Elisabeth Munck af Rosenschöld, IKEA Transport & Logistics Services, tells ShippingWatch.
Container rates have just reached the highest end-year level in five years. The level could continue into the new year, which according to Jefferies is good news for Maersk and its competitors. One of the reasons is a new billion-dollar expense, which customers now have to foot the bill for.
The Container Owners Association has elected a new chairman in Uffe Ernst-Frederiksen, who will take over in 2020. He serves as head of cargo management at Maersk. The association has also picked a new deputy chairman.
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