INTERNATIONAL NEWS

Box carriers: slow steaming here to stay

SLOW steaming is delivering cost savings for container lines beyond the obvious one of cheaper fuel bills.

No-frills box start-up set for trans-Pacific launch

TIMING is everything. Starting a new container service across the Pacific would have seemed the height of folly a few months ago, given the desperate straits of this particular trade, which has been worst hit of all by the recession.

Navies seize 35 pirates as tanker hit

EUROPEAN anti-piracy naval forces have captured 35 suspected pirates over the past four days and thwarted six separate attacks on vessels in the Gulf of Aden.

Shippers tell of fears over pricing collusion

SHIPPERS have again raised questions over possible antitrust breaches by container lines on major trade routes amid rising freight rates and capacity reductions.

PierPass becoming financially unviable

THE GROUND-breaking scheme designed to prevent the southern Californian ports of Los Angeles and Long Beach from grinding to a halt under the weight of too much cargo is now struggling as freight volumes languish.

Box sector ‘out of intensive care’

A NEW container sector analyst’s report suggests the deterioration in market conditions has “clearly stopped” despite a weak finish to 2009, although “macroeconomic variables” continue to send mixed signals about demand.

Maersk posts shortfall but eyes profit return

CAUTIOUSLY consigning shipping’s annus horribilis to history, AP Moller- Maersk Group reported a US$1bn loss for 2009 and predicted a modest return to profit this year.

Obama export drive highlights line’s plight

PRESIDENT Barack Obama’s push for an export-led US recovery has left container lines in a quandary about how best to respond to the challenge.

State support ‘hindering box recovery’

INTERVENTION by governments and other interested parties to prevent a major container line from collapsing could be counter-productive in the long run, delaying much needed industry consolidation.

Idle boxships down as slow steaming is gathering pace

THE NUMBER of idle boxships has again shrunk reflecting rising cargo volumes and the effects of super-slow steaming on the supply and demand equation, according to latest Alphaliner figures.

Box lines left reeling after unexpected volume surge

A HUGE surge in container volumes over the past three months has caught container lines by complete surprise and left them uncertain whether to reactivate idle tonnage even though their customers are screaming for extra space straightaway.

Kolding slams ‘casino’ box derivatives market

MAERSK Line chief executive Eivind Kolding has dealt a blow to the fledgling container derivatives market by describing it as a potential freight rates casino.

Shipping debt heads east

Asian banks are starting to lend to foreign shipowners, a trend that is consistent with the shift of shipping to the region, reports STEVE MATTHEWS