CMA CGM puts 6,500- and 10,400-TEU ships on Asia/Europe
Dubai World puts restructuring plan before its lenders
Box truck in six-vehicle pileup, 11 injured in Kowloon
CMA CGM ups capacity on Americas 'Columbus' service via Suez
MOL makes first Halifax call on Far East-east coast via Suez loop
Qingdao volume up 11.5pc to 5.6 million TEU in first half
Ningbo volume up 38.6pc to 6.38 million TEU in first half
Evergreen orders 500 FEU reefers for US$4.4 million
Hapag-Lloyd buys slots on Hanjin-UASC Africa service
Union Pacific profit up 53pc, CEO blasts Democrat rail reforms
Seattle Port up, Tacoma, Portland box volumes down
Dragonair to resume Hong Kong-Fukuoka service
Rolls-Royce wins US$130 million China Southern order
Emirates orders 30 Boeing 777-300ERs at Farnborough air show
Delta comes back with record second quarter earnings
Australia's Qantas expand fleet with Canada's Bombardier Q400s
Influx of containerships risks undermining freight rates
lunes, 26 de julio de 2010
viernes, 23 de julio de 2010
Boeing delivers 800th plane to China - a 737 to Air China
THE Civil Aviation Administration of China (CAAC) and Air China recently celebrated the delivery of the 800th Boeing aircraft for China - a Boeing Next-Generation 737-800 to Air China.
"Boeing and China have had a long-standing and productive partnership since 1972," said CAAC deputy administrator Wang Changshun. "We hope we will continue to further strengthen this win-win partnership. CAAC and Boeing have broad cooperation in safety, flight standards, airworthiness and new technologies."
In 1972, CAAC ordered 10 Boeing 707s, establishing it as a major world airline. Today, Boeing jets are the mainstay of China's air travel and cargo system. More than 50 per cent of all the commercial jetliners operating in China are Boeing aircraft.
"The history of working together between Boeing and Air China dates back to 37 years ago. We have created a mutual benefit through our long-term partnership," said Air China vice president Zhang Lan.
Air China, China's flag air carrier, is the largest airline in mainland China in terms of Air China's international traffic and size of its twin-aisle fleet.
"We have witnessed the rapid development of the aviation industry in China. We are honoured to be part of the development by providing our best products and services," said Boeing vice president Jim Simon. "We are also proud that China has a sophisticated and expanding role in the commercial aviation industry and on all Boeing commercial airplane models including the 787 Dreamliner."
Since the 1980s, Boeing has purchased more than US$1.5 billion in aviation hardware and services from China and will double that in coming years. More than 5,700 Boeing aircraft currently in service include Chinese-made parts.
"Boeing and China have had a long-standing and productive partnership since 1972," said CAAC deputy administrator Wang Changshun. "We hope we will continue to further strengthen this win-win partnership. CAAC and Boeing have broad cooperation in safety, flight standards, airworthiness and new technologies."
In 1972, CAAC ordered 10 Boeing 707s, establishing it as a major world airline. Today, Boeing jets are the mainstay of China's air travel and cargo system. More than 50 per cent of all the commercial jetliners operating in China are Boeing aircraft.
"The history of working together between Boeing and Air China dates back to 37 years ago. We have created a mutual benefit through our long-term partnership," said Air China vice president Zhang Lan.
Air China, China's flag air carrier, is the largest airline in mainland China in terms of Air China's international traffic and size of its twin-aisle fleet.
"We have witnessed the rapid development of the aviation industry in China. We are honoured to be part of the development by providing our best products and services," said Boeing vice president Jim Simon. "We are also proud that China has a sophisticated and expanding role in the commercial aviation industry and on all Boeing commercial airplane models including the 787 Dreamliner."
Since the 1980s, Boeing has purchased more than US$1.5 billion in aviation hardware and services from China and will double that in coming years. More than 5,700 Boeing aircraft currently in service include Chinese-made parts.
Asia airlines underperform on Morgan Stanley Asia/Pacific index
DESPITE the rise of the MSCI (Morgan Stanley Capital International) Asia/Pacific index early this month of four per cent and analysts forecasting outperformance in the next 12 months on the back of strong global recovery, Asian airlines index has yet to outperform last year's 15 per cent increase.
The airlines forecast for strong fourth quarter profit and those airlines with high cargo exposure are high risk rather than carriers that focus on premium passengers. Strong recovery in the year in the nine-month period has been down to retail re-stocking which with overcapacity and air-to-ocean freight rates widening is unlikely to be unsustained into 2011, said Morgan Stanley.
"As the global economy recovers and premium travel returns, we believe the well-capitalised airlines will be competitively positioned to participate in the recovery phase of the airline industry cycle," they said in a MarketWatch report.
Premium travel and its yield will be the key revenue driver with those lines such as Singapore Airlines and Hong Kong's Cathay Pacific tracking local markets underperforming compared to Korean Air Lines and Taiwan's China Airlines, said Morgan Stanley who has downgraded Korean Air stock.
Both Yuanta analyst Stone Line and Morgan Stanley has downgraded China Airlines and EVA Airways stock despite significant earnings strength for China Airlines its continued trajectory is unlikely. Such factors as lowering direct-flight ticket prices, oil prices fragility and "one-off" items such as rising demand from China's Shanghai Expo will dampen the Taiwan carrier's growth.
The airlines forecast for strong fourth quarter profit and those airlines with high cargo exposure are high risk rather than carriers that focus on premium passengers. Strong recovery in the year in the nine-month period has been down to retail re-stocking which with overcapacity and air-to-ocean freight rates widening is unlikely to be unsustained into 2011, said Morgan Stanley.
"As the global economy recovers and premium travel returns, we believe the well-capitalised airlines will be competitively positioned to participate in the recovery phase of the airline industry cycle," they said in a MarketWatch report.
Premium travel and its yield will be the key revenue driver with those lines such as Singapore Airlines and Hong Kong's Cathay Pacific tracking local markets underperforming compared to Korean Air Lines and Taiwan's China Airlines, said Morgan Stanley who has downgraded Korean Air stock.
Both Yuanta analyst Stone Line and Morgan Stanley has downgraded China Airlines and EVA Airways stock despite significant earnings strength for China Airlines its continued trajectory is unlikely. Such factors as lowering direct-flight ticket prices, oil prices fragility and "one-off" items such as rising demand from China's Shanghai Expo will dampen the Taiwan carrier's growth.
CMA CGM finance chief Schapiro to quit by September 1
MARSEILLES' French shipping giant CMA CGM, will lose its chief financial officer Jean-Yves Schapiro at the end of August, according to Tradewinds.
Mr Schapiro will leave at the end of August to "pursue a new challenge outside the shipping business," the report said, quoting a company spokesman.
It is not known whether Mr Schapiro's departure is linked to tumultuous talks with potential investors to reschedule the financially troubled carrier's formidable debt of US$5.3 billion, accrued from one of the largest order books in the industry.
CMA CGM has until the end of July to meet a deadline for outside investment or face more stringent measures from lenders.
The shipping line, the third largest in the world after Maersk and MSC, said it would announce when a replacement CFO when one it found one.
Tradewinds also reported it is nearing a deal for the French sovereign wealth fund FSI and another unnamed partner to become investors, while other news outlets said founder and chairman Jacques Saade had broken off talks with a Qatar fund for similar investment.
Mr Schapiro will leave at the end of August to "pursue a new challenge outside the shipping business," the report said, quoting a company spokesman.
It is not known whether Mr Schapiro's departure is linked to tumultuous talks with potential investors to reschedule the financially troubled carrier's formidable debt of US$5.3 billion, accrued from one of the largest order books in the industry.
CMA CGM has until the end of July to meet a deadline for outside investment or face more stringent measures from lenders.
The shipping line, the third largest in the world after Maersk and MSC, said it would announce when a replacement CFO when one it found one.
Tradewinds also reported it is nearing a deal for the French sovereign wealth fund FSI and another unnamed partner to become investors, while other news outlets said founder and chairman Jacques Saade had broken off talks with a Qatar fund for similar investment.
NOL orders ten 8,400-TEUers, to add two 10,000 TEUers for $1.2 billion
SINGAPORE's NOL Group has announced an order for ten 8,400-TEU ships to be delivered in 2013 and 2014 from South Korea's Daewoo Shipbuilding & Marine Engineering, as well as signing a letter of intent to buy two 10,700-TEU vessels all for a total of US$1.2 billion.
Neptune Orient Lines (NOL) said it is investing in new ships, to be operated by its container shipping line APL, to meet future growth needs and to replace vessels with charter agreements that expire in the next few years.
NOL follows Evergreen Group in ordering ships, as container lines take advantage of lower vessel prices the result of a two-year downturn. NOL container volumes have risen 39 per cent in the first half as US and European consumer demand revives.
"There couldn't be a better time for financially stable companies to invest," Seoul-based Heungkuk Securities research chief Cho In Karp told Bloomberg. "Shipping lines will pay a lot less for new vessels if they order now."
NOL last signed contracts for new vessels in June 2007, when it ordered eight 10,000-container ships. The order was Daewoo's first for containership order in two years.
++++
Neptune Orient Lines (NOL) said it is investing in new ships, to be operated by its container shipping line APL, to meet future growth needs and to replace vessels with charter agreements that expire in the next few years.
NOL follows Evergreen Group in ordering ships, as container lines take advantage of lower vessel prices the result of a two-year downturn. NOL container volumes have risen 39 per cent in the first half as US and European consumer demand revives.
"There couldn't be a better time for financially stable companies to invest," Seoul-based Heungkuk Securities research chief Cho In Karp told Bloomberg. "Shipping lines will pay a lot less for new vessels if they order now."
NOL last signed contracts for new vessels in June 2007, when it ordered eight 10,000-container ships. The order was Daewoo's first for containership order in two years.
++++
lunes, 19 de julio de 2010
MSC News
EIC Announcement for all containers 20`dv from Far East to SAWC 15/07/2010
MSC Mediterranean Shipping Company informs to its clients that will be applied a charge: Equipment Imbalance Charge (EIC) for all containers 20`dv from Far East to SAWC.
This charge will be effective from the 15th of August 2010 as follows:
EIC
20' USD 200
++++
MSC Mediterranean Shipping Company informs to its clients of the following General Rate Increase (GRI) for all cargo from Far East to SAWC.
The increase will be effective from the 1st of August 2010 as follows:
GRI USD 500 x TEU
++++
OWS Announcement for all cargo from Southern China and other Far East to SAWC 23/06/2010
MSC Mediterranean Shipping Company informs to its clients of the following Over Weight Surcharge (OWS) will be applied for all cargo from Southern China and other Far East to SAWC.
The adjustment will be effective from the 06th of July 2010 as follows:
South China USD 300
Other Far East USD 250
Maximum weight allowed without collect: 21 tons
Maximum weight allowed with collect: 27 tons
++++
BUC Announcement for all cargo from Europe to Chile 11/06/2010
MSC Mediterranean Shipping Company informs to its clients of the following Bunker Contribution (BUC) will decrease for all cargo from Europe to Chile.
The decrease will be effective from the 1st of July 2010 as follows:
BUC
€ 400 x TEU
++++
BAF Announcement for all cargo from Far East to SAWC 11/06/2010
MSC Mediterranean Shipping Company informs to its clients of the following Bunker Adjustament Factor (BAF) will be adjusted for all cargo from Far East to SAWC.
The adjustment will be effective from the 15th of July 2010 as follows:
BAF
USD 738 x TEU
++++
Fuente MSC
MSC Mediterranean Shipping Company informs to its clients that will be applied a charge: Equipment Imbalance Charge (EIC) for all containers 20`dv from Far East to SAWC.
This charge will be effective from the 15th of August 2010 as follows:
EIC
20' USD 200
++++
MSC Mediterranean Shipping Company informs to its clients of the following General Rate Increase (GRI) for all cargo from Far East to SAWC.
The increase will be effective from the 1st of August 2010 as follows:
GRI USD 500 x TEU
++++
OWS Announcement for all cargo from Southern China and other Far East to SAWC 23/06/2010
MSC Mediterranean Shipping Company informs to its clients of the following Over Weight Surcharge (OWS) will be applied for all cargo from Southern China and other Far East to SAWC.
The adjustment will be effective from the 06th of July 2010 as follows:
South China USD 300
Other Far East USD 250
Maximum weight allowed without collect: 21 tons
Maximum weight allowed with collect: 27 tons
++++
BUC Announcement for all cargo from Europe to Chile 11/06/2010
MSC Mediterranean Shipping Company informs to its clients of the following Bunker Contribution (BUC) will decrease for all cargo from Europe to Chile.
The decrease will be effective from the 1st of July 2010 as follows:
BUC
€ 400 x TEU
++++
BAF Announcement for all cargo from Far East to SAWC 11/06/2010
MSC Mediterranean Shipping Company informs to its clients of the following Bunker Adjustament Factor (BAF) will be adjusted for all cargo from Far East to SAWC.
The adjustment will be effective from the 15th of July 2010 as follows:
BAF
USD 738 x TEU
++++
Fuente MSC
jueves, 15 de julio de 2010
Latin America Air Freight
Cargo Airlines, South America
Monthly year-over-year percent change in scheduled international freight traffic and capacity in the Latin America trade lane.Latin America combined January through May international traffic surged 48.8 percent year-over-year, and capacity increased 24.8 percent, with May contributing a 60.2 percent year-over-year traffic spike and a 30.9 percent capacity increase.
The Journal of Commerce
Monthly year-over-year percent change in scheduled international freight traffic and capacity in the Latin America trade lane.Latin America combined January through May international traffic surged 48.8 percent year-over-year, and capacity increased 24.8 percent, with May contributing a 60.2 percent year-over-year traffic spike and a 30.9 percent capacity increase.
The Journal of Commerce
US Freight Index Jumps 9.1 Percent in June
Fastest growth yet reported in Cass shipments, spending monthly measures
The closely watched Cass Freight Index for shipments grew 9.1 percent in June over the previous month, accelerating at a pace that contrasted with other slowing economic signals and reaching a new high for the recovery.
The index of shipping activity in the United States also expanded 18.5 percent in June over the same month a year ago.
Both the annual and the month-to-month gains were the strongest the shipments index has shown in a rebound from the depths of shipping activity during the 2009 recession.
The June index of 1.106 also marked the highest point so far since the Cass Information Systems’ measure began turning sharply downward in the fall of 2008.
The Cass expenditures index also grew at the sharpest rate so far, expanding 28.9 percent in June over the same month a year ago and 7.6 percent compared to May. That put the measure at 1.919, the highest point since November 2008.
The growth in the freight shipments index came as other key measures, including the Institute of Supply Management’s manufacturing index and the American Trucking Associations’ truck tonnage index, showed weaker activity.
The closely watched Cass Freight Index for shipments grew 9.1 percent in June over the previous month, accelerating at a pace that contrasted with other slowing economic signals and reaching a new high for the recovery.
The index of shipping activity in the United States also expanded 18.5 percent in June over the same month a year ago.
Both the annual and the month-to-month gains were the strongest the shipments index has shown in a rebound from the depths of shipping activity during the 2009 recession.
The June index of 1.106 also marked the highest point so far since the Cass Information Systems’ measure began turning sharply downward in the fall of 2008.
The Cass expenditures index also grew at the sharpest rate so far, expanding 28.9 percent in June over the same month a year ago and 7.6 percent compared to May. That put the measure at 1.919, the highest point since November 2008.
The growth in the freight shipments index came as other key measures, including the Institute of Supply Management’s manufacturing index and the American Trucking Associations’ truck tonnage index, showed weaker activity.
lunes, 12 de julio de 2010
Air India's Chennai warehouse clogged with cargo backlog
AIR FREIGHT is said to be piling up at Air India's export warehouse at the old airport in Chennai.
There have been reports of 76 trucks laden with cargo intended for export, ranging from electronic components to perishable vegetables, having to return without being unloaded. The warehouse also has not been accepting all fresh consignments because pending cargo had not been cleared. This has slowed down cargo bookings, reports the Times of India.
The process is being slowed by a lack of personnel to handle consignments that are offloaded as well as by a shortage of personnel to scan them.
The warehouse of Air India, which handles export cargo for Singapore Airlines, Air Arabia, Kuwait Airways, Saudi, Gulf Air and Oman Air, can handle 200 trucks a day. "Over 100 arrive each day but just 60 manage to unload their ware. The rest are often turned back," the report said.
"Air India's security personnel who are authorised to conduct the scanning on the four scanners come for work only in the evenings. So, there is hardly any movement of cargo in the mornings and afternoons. The cargo that piles up for scanning often prevents unloading of fresh consignments," an unidentified clearing agent was quoted as saying.
There are just 25 loaders between 1400 hrs and 2300 hrs, and 10 between 1100 hrs and 0600 hrs. The agents have demanded that the number of loaders be increased to 50.
In spite of repeated complaints, "Things have not improved in the last one year," added AV Vijayakumar, secretary of Chennai Custom House Agents Association.
There have been reports of 76 trucks laden with cargo intended for export, ranging from electronic components to perishable vegetables, having to return without being unloaded. The warehouse also has not been accepting all fresh consignments because pending cargo had not been cleared. This has slowed down cargo bookings, reports the Times of India.
The process is being slowed by a lack of personnel to handle consignments that are offloaded as well as by a shortage of personnel to scan them.
The warehouse of Air India, which handles export cargo for Singapore Airlines, Air Arabia, Kuwait Airways, Saudi, Gulf Air and Oman Air, can handle 200 trucks a day. "Over 100 arrive each day but just 60 manage to unload their ware. The rest are often turned back," the report said.
"Air India's security personnel who are authorised to conduct the scanning on the four scanners come for work only in the evenings. So, there is hardly any movement of cargo in the mornings and afternoons. The cargo that piles up for scanning often prevents unloading of fresh consignments," an unidentified clearing agent was quoted as saying.
There are just 25 loaders between 1400 hrs and 2300 hrs, and 10 between 1100 hrs and 0600 hrs. The agents have demanded that the number of loaders be increased to 50.
In spite of repeated complaints, "Things have not improved in the last one year," added AV Vijayakumar, secretary of Chennai Custom House Agents Association.
Vessel speeds of 14-18 knots will be the future for container shipping
THE average vessel speed in the future will be between 14 and 18 knots as super slow steaming appears to have firmly established itself as a permanent fixture in the container shipping sector.
It was only last year in a conversation with Neptune Orient Lines chief executive Ron Widdows, when we reported that liner executives foresaw slow steaming as an ongoing trend for the foreseeable future.
This year we have seen the introduction of super slow steaming, which appears to be superseding the original slow steaming now…
Speaking to delegates at our recent Supply and Demand conference in Hong Kong, Maersk Line vice president for South China and Hong Kong, Soren Karas, confirmed that the super slow steaming practice would continue to play a significant role in the sector going forward due to its financial and environmental benefits.
"The speed/fuel use curve is exponential. You save a lot of fuel by taking the speed of your ship down. But there are two dimensions that one has to think about when talking about slow steaming. There is the pure financial decision and there is the environmental angle as well,” he said.
Super slow steaming saves a reported 30 per cent overall in bunker consumption, and also reduces CO2 emissions by the same amount, when compared to regular steaming.
As we also know, slow steaming has also helped to reduce the supply overhang that threw the industry into a tailspin last year, and threatened any chance at restabilising it again this year.
One might even suggest it has been one of the unsung heroes of the industry in 2010.
Mr Karas agreed that it has helped bring stability back into the market.
It was only last year in a conversation with Neptune Orient Lines chief executive Ron Widdows, when we reported that liner executives foresaw slow steaming as an ongoing trend for the foreseeable future.
This year we have seen the introduction of super slow steaming, which appears to be superseding the original slow steaming now…
Speaking to delegates at our recent Supply and Demand conference in Hong Kong, Maersk Line vice president for South China and Hong Kong, Soren Karas, confirmed that the super slow steaming practice would continue to play a significant role in the sector going forward due to its financial and environmental benefits.
"The speed/fuel use curve is exponential. You save a lot of fuel by taking the speed of your ship down. But there are two dimensions that one has to think about when talking about slow steaming. There is the pure financial decision and there is the environmental angle as well,” he said.
Super slow steaming saves a reported 30 per cent overall in bunker consumption, and also reduces CO2 emissions by the same amount, when compared to regular steaming.
As we also know, slow steaming has also helped to reduce the supply overhang that threw the industry into a tailspin last year, and threatened any chance at restabilising it again this year.
One might even suggest it has been one of the unsung heroes of the industry in 2010.
Mr Karas agreed that it has helped bring stability back into the market.
According to Alphaliner, the idle containership fleet fell further in the last two weeks as strong demand continues to absorb available capacity in the market. The idle fleet as at 5 July stood at 174 vessels for 340,000 TEU compared to 192 vessels for 380,000 TEU recorded a fortnight ago. This represents 2.5% of the total fleet, the lowest idling percentage recorded since December 2008.The carrier-operated idle fleet has now dropped to only 44 ships for 120,000 TEU. At its peak in March last year, it stood at more than 240 ships for over 1 million TEU. The non-operating owner idle fleet currently stands at 130 ships for 219,000 TEU, with the majority of these units in the 1,000-2,000 TEU size range.The drop in the idle fleet comes amidst a record number of new vessel deliveries made in the second quarter. During the April-Jun period, 88 new vessels with a total capacity of 440,000 TEU were delivered. This is the highest level of quarterly deliveries ever recorded.
Source: Motorship
Source: Motorship
Emergentes Cierran al Alza Impulsados por Wall Street
Bovespa lideró ganancias en la región con un avance de 3,33%, aunque su semana fue más corta al tener dos días festivos.
Uno de los principales factores que incidieron en el alza generalizada de los índices bursátiles de los países emergentes, fue el positivo desempeño que registró el Dow Jones estadounidense, al avanzar un 5,28% y cerrar la mejor semana en casi un año.
Al apetito bursátil que hubo después del festivo del lunes en EE.UU. ante expectativas de buenos resultados de las empresas que están pronto a conocerse, se sumaron al informe del Departamento del Trabajo que constató una baja en el subsidio por desempleo, el buen rendimiento que registraron las bolsas europeas y las menores previsiones del Fondo Monetario Internacional (FMI) para la economía mundial.
De este modo, el Bovespa cerró con un alza de 3,33%, liderando las alzas en la región. Lo siguió el Merval trasandino, registrando un desempeño semanal de 3,27%. Ambas plazas tuvieron una semana corta, ya que el viernes fue feriado y en el caso del parqué brasileño, tampoco registró actividad el lunes.
El IPC mexicano acumuló un avance de 1,99%, acompañado del 1,65% semanal de la plaza colombiana. El IGBVL limeño tuvo una ganancia más moderada, al cerrar en 1,17%.
Fuera de la región, Shanghai aumentó un 3,69%, a la espera de la salida a bolsa del Banco Agrícola de China, prevista para esta semana, mientras que el RTS ruso cifró un positivo 3,25%.
Uno de los principales factores que incidieron en el alza generalizada de los índices bursátiles de los países emergentes, fue el positivo desempeño que registró el Dow Jones estadounidense, al avanzar un 5,28% y cerrar la mejor semana en casi un año.
Al apetito bursátil que hubo después del festivo del lunes en EE.UU. ante expectativas de buenos resultados de las empresas que están pronto a conocerse, se sumaron al informe del Departamento del Trabajo que constató una baja en el subsidio por desempleo, el buen rendimiento que registraron las bolsas europeas y las menores previsiones del Fondo Monetario Internacional (FMI) para la economía mundial.
De este modo, el Bovespa cerró con un alza de 3,33%, liderando las alzas en la región. Lo siguió el Merval trasandino, registrando un desempeño semanal de 3,27%. Ambas plazas tuvieron una semana corta, ya que el viernes fue feriado y en el caso del parqué brasileño, tampoco registró actividad el lunes.
El IPC mexicano acumuló un avance de 1,99%, acompañado del 1,65% semanal de la plaza colombiana. El IGBVL limeño tuvo una ganancia más moderada, al cerrar en 1,17%.
Fuera de la región, Shanghai aumentó un 3,69%, a la espera de la salida a bolsa del Banco Agrícola de China, prevista para esta semana, mientras que el RTS ruso cifró un positivo 3,25%.
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