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Keyword: shipping

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  • Pacific Shipping Rates Surge To Record Highs -- Now 183% Higher Than 2009

    06/21/2010 7:19:23 AM PDT · by blam · 12 replies
    Pacific Shipping Rates Surge To Record Highs -- Now 183% Higher Than 2009 Vincent Fernando, CFA Jun. 21, 2010, 9:38 AM Pacific shipping rates tracked by research firm Drewry (Their Trans-Pacific Charter Rate Benchmark) spiked 18.9% in just the last week, hitting a record high for Drewry's five-year old index. A 40-foot container from Hong Kong to Los Angeles cost $2,607 to ship as of June 14th, which is markedly higher than $2,193 just a week before. JOC: The apparent jump in spot pricing comes as demand on trans-Pacific lanes remains strong even as space on vessels remains tight and...
  • Freight And Truck Traffic Point To Recovery

    06/10/2010 6:46:02 AM PDT · by blam · 13 replies · 43+ views
    Seeking Alpha ^ | 6-10-2010 | Edward Harrison
    Freight And Truck Traffic Point To Recovery by: Edward Harrison June 10, 2010 One common metric used by analysts to gauge how the economy is doing comes from freight or rail tonnage. If the economy is doing well, then more goods will be shipped via trucks and trains. This is exactly what is happening. Andy Lees showed this via a few Bloomberg charts in a note earlier today. Of note: The seasonally adjusted truck tonnage index is at its highest level since September 2008. US railcar container index which is just 4% off its all time high. The ConTex container...
  • After Several Months Of Gains, Rail Traffic Softens In May

    06/07/2010 2:44:42 PM PDT · by blam · 4 replies · 15+ views
    The Business Insider ^ | 6-7-2010 | Calculated Risk
    After Several Months Of Gains, Rail Traffic Softens In May Calculated Risk Jun. 7, 2010, 5:00 PM From the Association of American Railroads: Rail Time Indicators. The AAR reports traffic in May 2010 was up 15.8% compared to May 2009 - and traffic was still 11.8% lower than in May 2008. Image: AAR Click on graph for larger image in new window. This graph shows U.S. average weekly rail carloads. Traffic increased in 18 of 19 major commodity categories YoY. From AAR: • U.S. freight railroads originated 1,153,675 carloads in May 2010, an average of 288,419 carloads per week. That’s...
  • Amid The Financial Turmoil, One Economic Indicator Is Soaring

    05/25/2010 2:42:28 PM PDT · by blam · 7 replies · 649+ views
    The Business Insider ^ | 5-25-2010 |
    Amid The Financial Turmoil, One Economic Indicator Is Soaring May 25, 2010, 5:18 PM The financial world is coming unglued again. Greece has pushed the E.U. to the brink. Global stock markets are tumbling. And yet, at the same time at least one economic indicator is soaring. The Baltic Dry Index. Today, the BDI jumped nearly 9%. The largest daily jump in at least the last six months. In fact, the index is up 40% since the end of April. A jump that has roughly coincided with the recent decline in global stock markets. The BDI tracks global shipping...
  • Shippers Are Blowing Off European Problems And Rushing Vessels Back Into Action

    05/25/2010 10:45:46 AM PDT · by blam · 2 replies · 344+ views
    The Business Insider ^ | 5-25-2010 | Vincent Fernando, CFA
    Shippers Are Blowing Off European Problems And Rushing Vessels Back Into Action Vincent Fernando, CFA May 25, 2010, 1:20 PM Despite the concerns about Europe, global trade continues to show signs of a continued rebound. For example, average freight rates and volume reported by the container shipping company NOL (a leading player) have both continued to rise thanks to strength between North America and Asia. Moreover, ship owners are bringing vessels back into action based on demand growth expectations. Fearnly Fonds: The idle container fleet fell to 4.1% or 549,000 TEUs (263 ships) from 5.3% or 306 ships two weeks...
  • Shippers Launch New Export Route TO Asia From The U.S. In Response To Huge Demand (US Exports)

    05/12/2010 6:20:31 AM PDT · by blam · 4 replies · 253+ views
    The Business Insider ^ | 5-12-2010 | Vincent Fernando, CFA
    Shippers Launch New Export Route TO Asia From The U.S. In Response To Huge Demand Vincent Fernando, CFA May. 12, 2010, 7:58 AM Shipping companies are creating a new Oregon route from the U.S. to Japan, in response to demand for U.S. exports. We should probably get used to these trade trends: Seatrade Asia: Starting on July 11, the monthly service will provide space for more than 200 containers per month under a six month contract. Once successfully established, Port officials say the service could quickly increase in both volumes and frequency of vessel calls.
 “While this will start relatively...
  • TFT INSTRUMENTS Company has designed a new flight simulator that can be used for entertainment

    05/05/2010 9:00:30 AM PDT · by Niuhuru · 2 replies · 397+ views
    Associated Content ^ | Published May 05, 2010 by | Alice Winters
    In one of the many new age music albums, there is a song called "Fly Away" and the constant refrain is "Fly Away, Fly Away, Fly Away," and the refrain really describes what you can do with this new invention. The catch is of course with this, you can only fly away in your imagination. TFT INSTRUMENTS Company has designed a new flight simulator that can be used for entertainment (with both movie studio sets/movie productions), airports, and shopping centers.
  • U.S. Transport Stocks Are Rolling Over

    04/27/2010 6:17:28 AM PDT · by blam · 2 replies · 375+ views
    The Business Insider ^ | 4-27-2010 | Vincent Fernando, CFA
    U.S. Transport Stocks Are Rolling Over Vincent Fernando, CFA Apr. 27, 2010, 4:34 AM Continuing our digestion of recent sector and industry performance data, this chart below shows how multiple U.S. transportation industries (namely Trucking, Water Transport, Railroads, and Air Freight) underperformed the S&P 500 last week, despite outperforming during the last trailing month. This is highlighted by the dark grey vs. red bars below. On a year-to-date basis, all industries below have underperformed the S&P 500 except for Air Freight. Thus the one-month rally vs. the S&P 500 has been aborted (we're talking relative performance here), perhaps due to...
  • U.S. Rail Traffic Hits A Speed Bump

    04/12/2010 6:15:42 AM PDT · by blam · 11 replies · 418+ views
    The Business Insider ^ | 4-12-2010 | Vincent Fernando, CFA
    U.S. Rail Traffic Hits A Speed Bump Vincent Fernando, CFA Apr. 12, 2010, 12:23 AM U.S. rail traffic just slipped, with year over year growth slowing. Weaker traffic in coal, grain, construction materials, vehicles, and metal products were to blame. Journal of Commerce: For just the largest U.S.-owned railroads, new intermodal shipments fell to 196,257 loads last week from 210,914 a week earlier and were the lowest since Feb. 13. Rail freight traffic has maintained most of its recent strength, especially in carloads of bulk materials and equipment. Yet carloadings also slowed some for the North American majors, to 372,270...
  • Hijacked S. Korean tanker arrives in Somali waters

    04/07/2010 8:38:35 PM PDT · by Cheap_Hessian · 1 replies · 230+ views
    Yonhap News ^ | April 8, 2010
    SEOUL, April 8 (Yonhap) -- The crew of a South Korean supertanker seized earlier this week by Somali pirates in the Indian Ocean are still safe though their ship has arrived in Somali waters where the pirates are based, Seoul's foreign ministry said Thursday.
  • Australian Port Congestion Gives Clues To A Staggering Surge In Demand From Japan, Korea, And China

    04/06/2010 5:24:52 AM PDT · by blam · 8 replies · 545+ views
    The Business Insider ^ | 4-6-2010 | Vincent Fernando, CFA
    Australian Port Congestion Gives Clues To A Staggering Surge In Demand From Japan, Korea, And China Vincent Fernando, CFA Apr. 6, 2010, 7:57 AM Despite recent infrastructure expansions, Australian ports have been clobbered by an enormous rebound in demand for coal from Korea, Japan, and most notably... China. Thanks to the added disruptive effects of a recent cyclone, Australian coal terminals are now experiencing even more congestion than they experienced during pre-crisis boom times when the world experienced a commodities super spike. The map below shows a recent snapshot of the area around Hay Point, Australia.[snip]
  • And Now Rail Traffic Is On Fire

    04/01/2010 10:46:23 AM PDT · by blam · 25 replies · 1,064+ views
    The Business Insider ^ | 4-1-2010 | Joe Weisenthal
    And Now Rail Traffic Is On Fire Joe Weisenthal Apr. 1, 2010, 1:29 PM Courtesy of The Pragmatic Capitalist, here's the latest sign that the real economy is springing back to life. Rail traffic is surging to new highs. For the week ending March 27th rails originated 293K carloads which was the highest level since November 2008. This was 16.5% higher versus 2009, but down 11.6% versus 2008. Intermodal traffic is also making a sharp rebound with a 12% year over year increase, but a 5.3% decline versus 2008. Between this, the shipping rebound, the air-traffic rebound, and the factory...
  • Packed Containers Piling Up At Asian Ports Because There's Too Much Demand From West

    03/30/2010 6:53:39 AM PDT · by blam · 35 replies · 1,020+ views
    The Business Insider ^ | 3-30-2010 | Vincent Fernando
    Packed Containers Piling Up At Asian Ports Because There's Too Much Demand From West Vincent Fernando, CFA Mar. 30, 2010, 6:16 AM Packed containers are piling up at Asian ports as strong demand from the U.S. and Europe causes a lack of supply of ships. Shipping companies had purposefully idled capacity during the economic downturn, then started to bring it back recently. Yet they didn't do it fast enough to keep up with the robust pick-up in demand from the West.[snip]
  • Asia-U.S. Shipper Readies Huge Fleet Expansion After Reporting 37% Higher Volumes

    03/29/2010 3:24:11 PM PDT · by blam · 3 replies · 330+ views
    The Business Insider ^ | 3-29-2010 | Vincent Fernando, CFA
    Asia-U.S. Shipper Readies Huge Fleet Expansion After Reporting 37% Higher Volumes Vincent Fernando, CFA Mar. 29, 2010, 10:28 AM Neptune Orient Lines, owner of the formerly U.S.-owned APL container shipping company, just reported a sharp 37% jump in container trade volume for February, crediting strength in both Intra-Asia and U.S. - Asia (Transpacific) demand. (Note that higher volume can come from APL taking share, total trade growth will be lower.) The charts below are from NOL's release.[snip]
  • Shipping Indices Highlight a Potential Commodities Sell off

    03/12/2010 9:57:44 AM PST · by goldenwings · 2 replies · 307+ views ^ | 03/12/2010 | Dave Forest
    The China Containerized Freight Index has bee-lined upward in 2010. The index tracks shipping prices for goods sailing from China to 11 different regions around the world. Between January 15 and February 26, the index rose 17%. During the same period, the Baltic Dry Index (which tracks average shipping prices globally) fell 18%. As I mentioned, these numbers suggest a big increase in goods being shipping from China relative to the rest of the world. With anecdotal evidence that at least some of the exports were metals. The fear being that Chinese metals stockpiles are being drawn down and re-exported....
  • Goldman: Here's The One Way We Could Have A Double-Dip Recession

    02/19/2010 2:31:19 PM PST · by blam · 6 replies · 369+ views
    The Business Insider ^ | 2-19-2010 | Courtney Comstock
    Goldman: Here's The One Way We Could Have A Double-Dip Recession Courtney Comstock Feb. 19, 2010, 4:07 PM Goldman Sach's Tom Kim spoke about the global economy and the company's positive outlook on cargo-carriers at a recent Journal of Commerce event. The firm's outlook on the global economy is positive, providing policy-makers don't screw anything up. "We think [the risk of a double-dip] is largely related to policy and policy is the greatest threat to any recovery." Kim also talks a lot about his specialty, transportation, during the interview. He's pretty excited about container shipping: "The determination from the carriers...
  • Following The Bouncing Baltic Dry Index

    02/17/2010 7:30:55 AM PST · by blam · 2 replies · 448+ views
    Seeking Alpha ^ | 2-17-2010 | Hard Assets Investor
    Following The Bouncing Baltic Dry Index by: Hard Assets Investor February 16, 2010 Julian Murdoch Mid-February may seem like an odd time to look at 2009's shipping year in review. But as we enter earnings reporting season, now is actually the ideal time to revisit the things that were for shipping companies, as well as look ahead to what may come. And 2009 was a heck of a year. Just look at the Baltic Dry Index: As we've discussed previously, the Baltic Dry Index [BDI] gives an idea of the spot price for hiring a commodity-carrying ship at a given...
  • Hired guns secure ships, stir controversy

    02/14/2010 4:15:21 PM PST · by Jet Jaguar · 39 replies · 968+ views
    Stars and Stripes ^ | February 15, 2010 | By Sandra Jontz,
    NAPLES, Italy — As the world struggles to stop piracy in the waters off the coast of Africa and the Middle East, several companies have stepped forward to provide armed escort boats for commercial ships. Small, fast boats with a handful of armed mariners are an "emerging way to handle the [piracy] problem in a safe way," said Jim Jorrie, CEO of Espada Logistics and Security-MENA, a San Antonio-based company offering such services. But shipping industry experts frown on the practice. "It slightly smacks of vigilantism to me," said Tony Mason, secretary general of the International Chamber of Shipping and...
  • N.Korea declares 'no sail' zone off west coast

    01/26/2010 9:49:38 PM PST · by ErnstStavroBlofeld · 1 replies · 194+ views
    Space War ^ | 1/26/2010 | Seoul AFP vai Space War
    North Korea has announced a shipping exclusion zone off part of its west coast, a South Korean military official said Tuesday, a move which in the past has sometimes preceded missile test-launches. The official confirmed to AFP that the North had banned shipping from an area in the Yellow Sea but gave no details. Yonhap news agency said Seoul was watching to see if there were any preparations for a missile launch. The agency, quoting an unidentified Seoul military official, said the communist state declared a "No sail" zone south of the disputed sea border between the two countries. The...
  • Trouble Brewing For The Baltic Dry Index

    01/25/2010 3:01:58 PM PST · by blam · 37 replies · 883+ views
    Seeking Alpha ^ | 1-25-2010 | The Business Insider
    Trouble Brewing For The Baltic Dry Index by: The Business Insider January 25, 2010 The dry bulk shipping vessel orderbook is so massive over the next two years that even huge cancellation estimates would have trouble making it manageable, and thus saving the Baltic Dry Index (a measure of spot rates for bulk shipping). FTAlphaville highlights that broker Icap expects 1,400 vessels to be delivered in 2010, which equates to 120 vessels per month on average. (Even if in reality they won't be spread out evenly) How bad is 120 ships per month relative to what the market has had...
  • Trailer Shipments Hit 32-Year Low

    01/24/2010 7:20:58 PM PST · by FromLori · 35 replies · 1,116+ views
    Depressed December totals still high point for 2009, ACT says Shipments of commercial trailers hit a 32-year low in December while reaching their highest point in 2009, said ACT Research. At 8,296 units, shipments of trailers used to haul freight were off 44 percent from December 2008. Trailer shipments haven’t been so low since the trucking industry was regulated and P-I-E was hauling freight. That’s a sign of the extent of excess trailer capacity at the end of the worst year in shipping since the Great Depression. In its latest report on the trailer market, ACT said trailer factory shipments...
  • Somali pirates free oil tanker after record ransom

    01/18/2010 2:22:53 AM PST · by Cheap_Hessian · 12 replies · 604+ views
    Reuters ^ | January 18, 2010 | Abdi Guled and Abdi Sheikh
    MOGADISHU (Reuters) - Somali pirates freed a Greek-flagged tanker carrying 2 million barrels of oil on Monday, a day after the biggest ransom yet paid to them was dropped onto its deck, the pirates and a maritime official said. The Maran Centaurus was seized on November 29 with 16 Filipinos, nine Greeks, two Ukrainians and a Romanian on board. An aircraft dropped a ransom believed to be between $5.5 million and $7 million onto the vessel on Sunday, officials said. "We have agreed to solve our disagreements and release the ship. It is free and sailing away now," one of...
  • Shipping Into The U.S. Unexpectedly Jumped In December

    01/12/2010 3:02:01 PM PST · by blam · 4 replies · 285+ views
    The Business Insider ^ | 1-12-2010 | John Carney and Kamelia Angelova
    Shipping Into The U.S. Unexpectedly Jumped In December John Carney and Kamelia Angelova Jan. 12, 2010, 4:58 PM Shipping into the U.S. climbed from November to December, defying typical seasonal trends and perhaps demonstrating growing demand in the U.S. "December was a surprisingly good month that put a promising end to 2009," the research company Panjiva said in a report issued today. Specifically: There was a 3% increase in the number of global manufacturers shipping to the U.S. market There was a 2% increase in the number of U.S. companies receiving waterborne shipments from global manufacturers Traditionally, these numbers decline...
  • Record scrapping of container ships [2009]

    01/04/2010 8:48:31 PM PST · by Vince Ferrer · 17 replies · 1,141+ views
    A record 370,000 TEUs of ship capacity was scrapped in 2009 – an amount equal to the cumulative capacity scrapped over the past decade – says Shipping Gazette quoting figures compiled by Alphaliner, the Paris-based consultancy agency. This is the largest ever recorded level of scrapping of capable container ships largely because the owners struggle to find employment for surplus vessels. According to figures, 200 container ships were sold for scrap in 2009, including the 17-year-old Hyundai Admiral (capacity 4651 TEUs). With this high level of scrapping, the average age of vessels demolished has dropped to 27 years, thus reversing...
  • The Baltic Dry Index Is Collapsing

    12/21/2009 9:44:08 PM PST · by blam · 17 replies · 1,749+ views
    The Business Insider ^ | 12-21-2009 | Vincent Fernando
    The Baltic Dry Index Is Collapsing Vincent FernandoDec. 21, 2009, 1:06 PM Dry bulk vessel over-supply is finally taking its toll, the Baltic Dry Index (BDI) has gone into a nosedive as shown below. US-listed dry bulk stocks such as DryShips (DRYS) and Eagle Bulk (EGLE) have been drifting lower. While the current index level is still equivalent to historically strong rates, continued strength in 2010 is entirely predicated on continued growth of Chinese dry bulk raw material imports. While November iron ore imports were encouraging and 2009 was a year of surprising strength, with China it could all disappear...
  • Piracy: The Threats and Possible Solutions [personal suggestions]

    12/19/2009 10:30:41 PM PST · by UAConservative · 13 replies · 1,815+ views
    December 19, 2009 | me
    Occasionally, I like to write editorials and opinion pieces to keep my writing skills up and take my frustrations with government policy at the same time.I doubt this will ever run in a newspaper, but I've decided to share it anyhow. Piracy: The Threats and Possible Solutions Part I: The Threat We all remember the times when we were kids. We remember raising the jolly roger, wearing an eye patch, and having a parrot on our shoulder. Normally we would have our parents play the role of victim as we plundered fake gold coins as we, and our friends, would...
  • Trade Data Points To L-Shaped Outlook

    12/13/2009 11:52:41 AM PST · by blam · 8 replies · 390+ views
    Seeking Alpha ^ | 12-13-2009 | Wildebeest
    Trade Data Points To L-Shaped Outlook by: Wildebeest December 13, 2009 At first glance the contraction in the trade deficit for October looks positive. I'm generally wary of seasonally adjusted data -- not because seasonal effects don't exist but because I prefer to see the raw data and the algorithm used to do the smoothing. Non seasonally adjusted data for the trade in goods is available here. A seasonal plot of the trade deficit, derived from 22 years of data, is shown in the next chart. From that chart we see that October is typically a larger deficit month. That...
  • What Recovery? Behold The Amazing Ghost Shipping Fleet Of Singapore

    12/09/2009 7:22:21 AM PST · by FromLori · 14 replies · 1,399+ views
    The Business Insider ^ | 12/9/09 | Vincent Fernando
    Whatever trade statistics you may be reading, here's a simple dose of reality: There's an armada of empty shipping vessels lying idle off the coast of Singapore. Yet Singapore is supposed to be one of the busiest ports in the world. It is a major transhipment hub for global trade. But today, it still looks relatively dead. Don't believe us? Check out the stunning pics we captured on a recent trip: See Amazing Pictures of Singapore's Ghost Fleet >>>
  • Pirates Beware: New Deadly Cargo

    11/25/2009 9:49:45 AM PST · by Vigilanteman · 11 replies · 1,493+ views
    Military.Com ^ | 25 November 2009 | Staff Report
    A neat video of about four minutes on what pirates can expect if they attack a vessel outfitted by this new security technology.The water walls may be new technology, but the armed snipers are almost as old as piracy itself.
  • EDITORIAL: An anti-pirate policy that works

    11/20/2009 8:20:20 AM PST · by R4Roger05 · 5 replies · 427+ views
    The Washington Times ^ | November 20, 2009 | John R. Lott, Jr.
    Merchant ships need guns to fight pirates. Seven months ago, Somali pirates attacked the Maersk Alabama and held its captain hostage. Pirates attacked the Maersk Alabama again this week but were repulsed because the Maersk Shipping Line put armed guards on its ships. Pirates successfully attacked another unarmed ship on Monday, leaving 28 members of its crew dead. On Tuesday, 36 crew members of a Spanish ship were released only after pirates were paid a $3.3 million ransom. But when the pirates got within 300 yards of the Maersk Alabama, the ship tried evasive maneuvers and its security team successfully...
  • Figures confirm dismal year at Port of Tacoma

    11/17/2009 9:48:27 PM PST · by Kartographer · 6 replies · 492+ views ^ | 11/17/09 | Kelly Kearsley
    The Port of Tacoma will end this year $17.9 million in the red – the first time the agency’s bottom line has been negative in recent memory. The agency’s loss of profit is largely the result of a $38.8 million write down – or accounting for the lessened value – of investments the port made in projects that have since been canceled.
  • Little Cargo, Loads of Debt

    11/11/2009 8:55:21 PM PST · by blam · 1 replies · 335+ views
    International Herald Tribune ^ | 11-11-2009 | LANDON THOMAS Jr.
    Little Cargo, Loads Of Debt LANDON THOMAS Jr. Published: November 11, 2009 LONDON — When Eastwind Maritime, a medium-size carrier company, went bankrupt this summer, few banks in the United States took notice. Charles Pertwee/Bloomberg News Singapore's container port last month. As global trade recovers, a glut of a new ships is expected to undermine a price recovery. Vivek Prakash/Reuters Cargo vessels off the coast of Singapore last June. With trade slowed by the recession, bankruptcies of carriers could rise. But in Europe, where banks hold over $350 billion of increasingly dubious shipping industry loans, the inability of Eastwind, which...
  • Wreck of the Edmund Fitzgerald 34th Anniversary

    11/10/2009 12:12:18 PM PST · by LukeL · 94 replies · 4,168+ views ^ | November 10 2009 | Mike R
    34 years ago today, on November 10, 1975, the SS Edmund Fitzgerald - aka "Mighty Fritz," - foundered and sank during a storm on Lake Superior. Launched on June 8, 1958, the Edmund Fitzgerald was the largest ship on the Great Lakes for the next 13 years
  • DryShips Q3 Earnings Beat Estimates

    10/27/2009 1:56:40 PM PDT · by blam · 2 replies · 194+ views
    Reuters ^ | 10-27-2009 | Hezron Selvi
    DryShips Q3 Earnings Beat Estimates Mon Oct 26, 2009 6:34pm EDT By Hezron Selvi BANGALORE, Oct 26 (Reuters) - Drybulk shipping and contract drilling company DryShips Inc (DRYS.O) reported quarterly earnings that comfortably beat Wall Street expectations, helped by increased spot charter rates for its ships and higher revenues from its drilling rigs. "There was some upside from spot vessels. The spot vessels in the dry bulk fleet came better than expected, but a lot of it also had to do with the fact that the drilling business came in strong," Credit Suisse analyst Gregory Lewis said. Dry bulk shipping...
  • Holiday miracle needed for turnaround at U.S. ports [Container Shipping]

    10/24/2009 5:21:24 PM PDT · by Vince Ferrer · 23 replies · 940+ views ^ | 19 Oct 2009
    LOS ANGELES, Oct 20 - Foreman Danny Miranda remembers the days when the Los Angeles and Long Beach, California, ports were so jammed that ships waited in line to unload. Now the lingering recession has longshoremen waiting in line for work. After a year of grappling with fewer shifts and falling wages, Miranda and other union port workers hope a surprise jump in September retail sales will fuel a late-season bump in holiday cargo. "Out of seven days, only two we see work. The last quarter it would be four days out of the seven," said Miranda, a veteran port...
  • Four Shippers Emerging From The Mire

    10/22/2009 8:36:20 AM PDT · by blam · 1 replies · 318+ views
    Seeking Alpha ^ | 10-22-2009 | Skymist
    Four Shippers Emerging From The Mire October 22, 2009 After a thrilling two-week rally in the stock market during early September, shippers began to fall. They had been enjoying a nice rally on the general premise of economic recovery, market stabilization, and rising materials prices. But suddenly on September 17th, the shipper sector broke, and leading names fell - plummeted, actually, at a much faster rate than the modest pullback in the general market would have implied. With shippers today generally on the rise again, it is worthwhile to look at the reasons for the mid September breakdown. What was...
  • Port of Long Beach TEUs Year To Date [Container shipping]

    10/20/2009 6:31:20 PM PDT · by Vince Ferrer · 4 replies · 482+ views
    Port of Long Beach ^ | October 20, 2009 | Port of Long Beach
    Container Trade in TEUs* 2009 Year-to-Date*TEUs: 20-foot equivalent units or 20-foot-long cargo container **Preliminary estimate   Loaded Inbound Loaded Outbound Empties Total Containers January 200,588 88,510 110,197 399,295 February 149,299 92,781 75,962 318,042 March 186,450 117,674 70,007 374,131 April 199,051 112,976 96,678 408,705 May 208,591 121,064 89,900 419,555 June 206,358 114,107 92,882 413,347 July 221,719 108,420 102,874 433,013 August 249,920 130,623 112,796 493,339 September 224,924 109,337 106,103 440,364 October November December Year-to-Date 1,846,900 995,492 857,399 3,699,791 YTD % Change -23.8% -26.3% -24.2% -24.6%
  • Great Lakes shippers fuming over EPA fuel proposal

    10/20/2009 5:19:11 AM PDT · by Willie Green · 59 replies · 2,302+ views
    Prairie Business Magazine ^ | Tuesday, October 20, 2009 | Peter Passi
    Federal efforts to clean up laker emissions are fueling a heated debate throughout the St. Lawrence Seaway. “It’s a threat to the economics of shipping on the Great Lakes,” Adolph Ojard, executive director of the Duluth Seaway Port Authority, said of rules recently proposed by the Environmental Protection Agency. The EPA wants to wean older lakers off their diet of inexpensive No. 6 “bunker” fuel to reduce sulfur levels 50 percent in 2012 and help prevent tens of thousands of premature deaths. The entire fleet would convert to low-sulfur marine diesel by 2015. But lake carriers say the effort could...
  • Number of laid up containerships rise 10.4pc by October 12 [Container Shipping]

    10/14/2009 8:23:10 PM PDT · by Vince Ferrer · 22 replies · 1,114+ views
    Hellenic Shipping News ^ | october 14, 2009
    The number of laid up containerships increased 10.4 per cent in a fortnight, according to the latest Alphaliner survey, which showed 568 ships were idle, aggregating 1.35 million TEU as of October 12 from the 548 idle vessels, totalling 1.29 million TEU, noted two weeks earlier. The Paris-based agency said laid up fleet is now the biggest ever. Apart from ships in the 1,000-TEU - 2,000 TEU range (7,500-TEU plus sized ships lay-up rate remained steady), all sizes showed increases in idling during the two-week period. Alphaliner also reported that the raft of service cutbacks by major carriers had an...
  • Revealed: The ghost fleet of the recession anchored just east of Singapore

    09/30/2009 7:18:59 AM PDT · by RBW in PA · 36 replies · 2,290+ views
    Mail Online ^ | September 28, 2009 | Simon Parry
    The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination - and is why your Christmas stocking may be on the light side this year
  • Idled Charter Box Ships Hit Record [Container Shipping]

    09/29/2009 4:37:01 PM PDT · by Vince Ferrer · 15 replies · 1,090+ views
    The Journal of Commerce Online ^ | Sep 29, 2009 6:32PM GMT | Bruce Barnard
    Exceeding unemployed carrier controlled fleet for first time The fleet of idled container ships controlled by charter ship-owners reached a record high in September and exceeds the number of unemployed vessels controlled and operated by ocean carriers for the first time. The non-operating owner fleet without work has risen to 654,000 20-foot equivalent units as ocean carriers shrink their capacity and return chartered ships to their owners when they come off hire, according to Alphaliner, the Paris-based container shipping consultancy. The carrier-controlled idle fleet stood at 643,000 TEUs and has fallen below the non-operating owners unemployed fleet for the first...
  • Financial News: Banks Face $90B Ship Write-Downs [Shipping]

    09/22/2009 8:43:56 PM PDT · by Vince Ferrer · 9 replies · 582+ views
    Wall Street Journal ^ | SEPTEMBER 14, 2009, 3:35 A.M. ET | Mike Foster
    Banks are facing the prospect of being forced to write down loans to the shipping industry worth more than $90 billion (EUR62 billion) next year. The write-downs would be a delayed response to a crash in ship values of more than 50%, which has fatally undermined loan cover.
  • Revealed: The ghost fleet of the recession anchored just east of Singapore (Recession NOT Over Ben!)

    09/16/2009 10:43:56 AM PDT · by fightinbluhen51 · 24 replies · 1,625+ views
    UK Daily Mail ^ | 16 September 2009 | Simon Parry
    The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination - and is why your Christmas stocking may be on the light side this year The tropical waters that lap the jungle shores of southern Malaysia could not be described as a paradisical shimmering turquoise. They are more of a dark, soupy green. They also carry a suspicious smell. Not that this is of any concern to the lone Indian face...
  • Ghost Fleet of the Recession - hundreds of cargo ships parked in 'secret' Singapore harbor

    09/13/2009 7:36:56 PM PDT · by BP2 · 46 replies · 6,060+ views
    The Big Picture ^ | September 13, 2009 @ 7:58 pm | Barry Ritholtz
    The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination> – and is why your Christmas stocking may be on the light side this year. >Fascinating article by Simon Parry in the Daily Mail this evening on the Ghost Fleet of Singapore — 100s of empty container ships sidelined by the recession.Excerpt: Here, on a sleepy stretch of shoreline at the far end of Asia, is surely the biggest and...
  • Most Do Not Realize How Bad it Really Will Be (The Coming Economic Depression)

    09/13/2009 2:19:29 PM PDT · by Signalman · 60 replies · 2,417+ views ^ | 9/13/2009 | Economic Analyst
    At the end of this past July, one of the largest ports in America, Long Beach, reported that the 20% year-over-year cargo business decline is among the sharpest since the Great Depression. This is not a trend specific to Long Beach. “It’s phenomenal how much things fell away even since December,” said Paul Bingham, managing director of global trade and transportation for IHS Global Insight, the business research firm that monitors North America’s biggest ports for the National Retail Federation. As of September 4, 2009, reported that unemployment in the US is now near 21% and is showing no...
  • Revealed: The ghost fleet of the recession

    The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination - and is why your Christmas stocking may be on the light side this year Read more:
  • Revealed: The ghost fleet of the recession (Largest fleet in history- going nowhere- thanks Obama!)

    09/13/2009 12:50:31 AM PDT · by blueglass · 33 replies · 2,725+ views
    Daily Mail UK ^ | 9-13-09 | Simon Parry
    The world's ship owners and government economists would prefer you not to see this symbol of the depths of the plague still crippling the world's economies The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination. Do not tell these men and women about green shoots of recovery. As Briton Tim Huxley, one of Asia's leading ship brokers, says, if the world is really pulling itself out of recession, then all...
  • Arctic Shortcut Beckons Shippers as Ice Thaws

    09/12/2009 4:43:42 AM PDT · by reaganaut1 · 23 replies · 1,098+ views
    New York Times ^ | September 10, 2009 | Andrew E. Kramer and Andrew C. Revkin
    MOSCOW — For hundreds of years, mariners have dreamed of an Arctic shortcut that would allow them to speed trade between Asia and the West. Two German ships are poised to complete that transit for the first time, aided by the retreat of Arctic ice that scientists have linked to global warming. The ships started their voyage in South Korea in late July and will begin the last leg of the trip this week, leaving a Siberian port for Rotterdam in the Netherlands carrying 3,500 tons of construction materials. Russian ships have long moved goods along the country’s sprawling Arctic...
  • Supertankers May Halt Oil Trading, Frontline Says

    09/04/2009 6:56:03 PM PDT · by Vince Ferrer · 30 replies · 1,773+ views
    Hellenic Shipping News ^ | Saturday, 05 September 2009
    Supertanker owners may start refusing cargoes within the next three months unless rates return to a profitable level, said Frontline Ltd., the biggest operator of the ships which carry almost half the world’s oil. Ship owners are contributing $942 a day toward fuel costs to ship Middle East crude, according to the London-based Baltic Exchange. Rates have been below operating costs since July. Should the losses persist, some owners may choose to idle their ships, according to Jens Martin Jensen, Singapore-based chief executive officer of Frontline’s management unit. “If you see another quarter, then I think owners have to do...
  • Global Trading Showing No Sign of Recovery [Container Shippping]

    08/22/2009 9:39:30 PM PDT · by Vince Ferrer · 24 replies · 970+ views
    I happened to be watching The Kudlow Report last tonight were First Trust’s Chief Economist, Brian Wesbury, stated that the economy is in great shape and global trade is fantastic. He cited the Baltic Dry Index as an indicator of strong trade. However, there must be another Baltic Dry Index as the one everyone else follows shows a horrible past month. In fact, the Baltic Dry Index has dropped another 3.1% Wednesday on top of horrible losses in the last few weeks. Couple that with Japan’s latest trade data which shows the China is now Japan’s largest trade partner. Furthermore...