Ocean carriers have pushed the orderbook for new vessels to a multiyear high in 2021 thanks to the strength of the freight market and the dearth of surplus vessels.
Ships & Shipbuilding
Ships & Shipbuilding
Four out of the world’s five largest shipbuilders are located in South Korea: Hyundai Heavy Industries, Daewoo Shipbuilding, Samsung Heavy Industries, and Hyundai Samho. The fifth largest shipbuilder is Japan’s Mitsubishi Heavy Industries.
The pullback in orders has hurt shipbuilding yards in major production centers in South Korea, China and Japan, where authorities considered closing some operations, consolidating businesses and other strategies to keep the industrial operations running. South Korea’s shipping and shipbuilding industries were hit hard by weak global demand for ships and offshore rigs, which resulted in massive losses for shipyards and the bankruptcy of the country’s biggest shipping line, Hanjin Shipping, in 2016. Following the bankruptcy of Hanjin, sales of South Korea’s shipping industry declined drastically, sparking the government to undertake a multi-year restructuring of the sector.
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News & Analysis
31 Dec 2020
The containership orderbook remains very low by historical standards – presently at around 8 percent of the total fleet to be delivered over the next couple of years.
01 Dec 2020
If ship ordering restraint were to be extended pending clarity on zero-carbon ships, the capacity shortage that manifested itself in 2020, and resulting upward pressure on rates, could continue beyond 2021.
15 Jan 2020
The fleet-to-orderbook ratio is at its lowest in nearly a decade as carriers maintain a tight grip on capacity, aided by scrubber retrofitting and scrapping.
28 Oct 2019
A seeming shift in philosophy among a number of key players in the container trade when it comes to orderbooks is about to change the competitive dynamics in the main deep-sea trades.
22 Oct 2019
With scrapping levels still relatively low, overcapacity is expected to continue to keep downward pressure on multipurpose/heavy-lift (MPV/HL) vessel rates.
24 Jul 2019
Yilport and the Mississippi State Port Authority are making headway in agreeing to a concession and aim to have a binding letter of intent — featuring a roadmap of planned investments — by the end of the year.
13 Feb 2019
The multipurpose/heavy lift market continues to struggle with overcapacity, weak demand, and increased competition for breakbulk and project cargo from the bulk, ro-ro, and container sectors.
09 Nov 2018
State-owned Korea Development Bank, the primary lender and shareholder of HMM, is hardening its attitude towards the loss-making carrier.
30 Aug 2018
The data were provided by the largest deepsea container ship operators, who collectively control more than 66 percent of the world’s cellular fleet.
20 Jul 2018
Amid a slew of low water-level carrier surcharges, the Port of Montreal said concern that its future is limited by its shallow draft is overplayed.
18 Jul 2018
Declining volume is forcing capacity cuts and heaping additional pressure on carriers battling to cope with rising operating costs.
30 May 2018
Concerning the peak season fee, at the same time that Hapag-Lloyd added a $1 fuel surcharge, the ocean carrier surprised the market with a peak season surcharge of $55 per TEU that it said will be levied from June 1 on all trades out of China.
25 May 2018
Rodolphe Saadé, group CEO of CMA CGM, announced the surcharge along with first-quarter results, which saw revenue surge. Despite that increase in demand, fuel costs resulted in a $77-million net loss for the quarter.
25 May 2018
With such a sharp increase in bunker fuel prices that dragged carriers into a loss-making first quarter, it is no surprise that Maersk and Mediterranean Shipping Co. will levy an emergency bunker surcharge from June 1.
23 May 2018
The Canadian East Coast’s very stable market has recently changed significantly: it’s in a state of turmoil with many container port projects being considered — Quebec City (Beauport); Dartmouth, Halifax; Montreal (Contrecoeur); Melford, Nova Scotia; and Sydney, Nova Scotia (Novaporte).
18 May 2018
A sharp increase in fuel prices is placing carriers under pressure, and they've responded with rate increases planned for June 1.
14 May 2018
Port congestion at some Asian ports is delaying cargo.
03 May 2018
In 2017, marine terminals continued to struggle with the demands presented by larger ships, but implied in that are several encouraging statistics regarding the condition of global trade.
02 May 2018
Ports in North Europe had the biggest increase in average call size in 2017, but Southeast Asia and Latin America also had impressive average growth increases.
13 Apr 2018
The annual blanket of fog has been wreaking havoc at the busy ports of Shanghai and Ningbo.
10 Apr 2018
The new order for mega-ships gives Hyundai Merchant Marine the container shipping industry's third-largest orderbook.
04 Apr 2018
Yilport, which signed a memorandum of understanding with the Mississippi State Port Authority in February, is promising to invest hundreds of millions of dollars in the state’s Port of Gulfport, which it says has the potential to feed volume, particularly refrigerated goods, between Gulfport and Yilport terminals in Ecuador and Peru.
16 Mar 2018
The biggest ship in CMA CGM's fleet called at Hamburg this week, but even though the port has the infrastructure to handle mega-ships, the delay in dredging the Elbe River access channel continues to hold back volume growth.
12 Mar 2018
Maersk Line will make alternative vessels available to European exporters after a fire crippled the Maersk Honam in the Arabian Sea.
08 Mar 2018
The IMO’s Marine Environment Protection Committee is working on a strategy to reduce greenhouse gas emissions from ships, which includes a list of short- and long-term measures.
28 Feb 2018
CMA said the plan provides door-to-door coverage for 30 days before loading and after discharge of goods on and from a CMA CGM vessel. However, the risk cover is restricted to single-shipper bills of lading.
28 Feb 2018
HMM says mega-ships will be ordered in the first half of 2018 but provided no info on the number of vessels or their sizes.
27 Feb 2018
Analysts are trying to figure out HMM's growth plans, with the South Korean carrier widely expected to place its mega-ship order.
02 Feb 2018
Container ships are getting too wide and too deep for Australian container ports, officials say. And that leaves the nation with a choice: find ways to accommodate bigger container ships or risk a negative outcome.
26 Jan 2018
The mega-ships continue to flood in to the Asia-North Europe container trade lane.
19 Jan 2018
The supply-demand balance will become more favorable to carriers in the second half, believes Jefferies.
12 Jan 2018
The orders come after Cosco and Yang Ming delayed delivery of roughly 200,000 TEU of capacity to 2019 amid signs overcapacity remains in the market.
10 Jan 2018
As capacity floods into service, some carriers have started to delay the delivery of new mega-ships.
19 Dec 2017
SM Line is hoping to partner with its larger Korean rival HMM as the carrier plans to launch a new trans-Pacific service.
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Commentary
Yilport’s plan for Gulfport