American shipping companies are spending more than $120 million to repair and maintain their fleets of Great Lakes bulk carriers this winter. https://lnkd.in/gvbEbfbR
Good news for Donjon and Bay
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American shipping companies are spending more than $120 million to repair and maintain their fleets of Great Lakes bulk carriers this winter. https://lnkd.in/gvbEbfbR
Good news for Donjon and Bay
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The amount of containership capacity idled has surged again, the latest survey from Alpha liner reporting 315 vessels (1.18 million TEU) in lay-up, representing 4.3% of the global fleet. In its fortnightly review of the inactive container vessel fleet, the consultant recorded a big jump from the 271 ships, for 942,035 TEU, shown as idled two weeks previously. It said the idle tonnage figures had been boosted by the addition of several larger ships, including four 12,500 to 18,000 TEU vessels and three of more than 18,000 TEU, either anchored, or sent to shipyards for surveys and repairs. The disconnect between a stable idle containership fleet, which hovered around 3% of the global fleet for much of the summer despite a downturn in demand, is partly due to the other capacity adjustment management measures taken by carriers, including sliding and super-slow steaming, used in addition to blanking programs to soak up surplus capacity. The upward momentum in idle tonnage is expected to continue to build as the market enters the traditional slack period, which typically lasts through Q4 and Q1,” said Alpha liner. “This will be further exacerbated with the continuous inflow of fresh tonnage into the sector.” Indeed, there have already been three 24,000 TEU ultra-large container vessels (ULCVs) delivered this month, two received by MSC as well as the 24,188 TEU OOCL Zeebrugge Source:The Loadstar
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𝐓𝐏𝐌24: 𝐒𝐡𝐢𝐩𝐩𝐞𝐫𝐬 𝐡𝐨𝐩𝐞 𝐥𝐢𝐧𝐞𝐫 𝐨𝐯𝐞𝐫𝐜𝐚𝐩𝐚𝐜𝐢𝐭𝐲 𝐰𝐢𝐥𝐥 𝐝𝐫𝐢𝐯𝐞 𝐫𝐚𝐭𝐞𝐬 𝐝𝐨𝐰𝐧 – 𝐛𝐮𝐭... Shippers hoping the burgeoning overcapacity in global liner trades may lead to a prolonged period of cheap freight rates may be disappointed, delegates at this year’s S&P TPM24 conference in Long Beach were told. According to Jan Tiedemann, VP of liner strategy at consultancy AXS Alphaliner, 819 containerships are currently on order, amounting to a total capacity of 6.99m teu and representing nearly 25% of current global fleet capacity – and which, combined with weak demand, has led to predictions of a crash in freight rates. “The capacity coming is certainly huge, but it might not be as bad as some think,” he said, adding that a chief factor behind the rash of orders was “prices for new ships are going up and carriers have been trying to lock-in new orders before shipyard slots become completely full, and the vast majority of the new capacity will actually be delivered quite late. Source: The Loadstar https://lnkd.in/gkddSh6s #silogscs #logisticrates #supplychainsolutions
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True believer of Shipping & Supply Chain Transformation | Logistics digitalization | Global Trade & Geopolitics Enthusiast | Marine Science, Technology & Management PhD. Student | WISTA | MELYT
According to data from Clarksons Research fully 50% of the the global orderbook in cgt terms is contracted for just two #shipping segments, #LNG and #containers. Other notable shipyard data from the publication include the statistic that yard capacity is still 35% down from its 2011 peaks and yard slot availability is tight with the orderbook standing at 3.5 times last year’s output. Owners of #tankers and #drybulkers anxious to kick off fleet replacement programmes are faced with a long wait and elevated prices. Clarksons data shows 31% of the global merchant fleet is now over 15 years of age, and 30% of tonnage ranks in the D and E bands for the International Maritime Organization’s #CarbonIntensityIndicator (#CII) ratings. https://lnkd.in/d_ruDMpM
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From this article by my old friends at Transport Topics: "Mike DeAngelis, head of ocean operations at FourKites, expects some containerized ocean shipments originating in Asia that would normally travel via canal to the East Coast will instead terminate at West Coast ports and be routed cross-country to the East Coast by rail or truck. He noted cargo owners pursuing this option to avoid canal-related delays should expect a price increase for the overland routing." I tend to agree, and J.B. Hunt Transport Services, Inc. was 13% in Q4 on transcon business on the West Coast. To the extent this is true, there can be additional domestic intermodal loads in Q1, either indirectly or directly via transloading. If I'm trying to get cargo to Memphis, KC, Nashville, Chattanooga, Indianapolis, Ohio Valley, or even western Georgia, and I want a no-fuss land bridge via rail, this is where J.B. Hunt, Hub, or Schneider can generate new business. The advantage here is that J.B. Hunt and Schneider have private chassis and use mostly company drivers. You tend to have a lot smoother experience on the final mile compared with IPI. Now IPI works, but if it's got a more time-sensitive element, we might see an uptick on West Coast transloads.
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The global fleet of inactive containerships has experienced significant growth in recent weeks. It has now, once again, surpassed 1 million TEU. Late May was the last time we saw this figure creep so high. The proportion of inactive capacity rose to 4.3% of the total containership fleet as of October 9, up from 3.4% two weeks earlier, according to Alphaliner’s survey. This news article offered the following nugget: "The disconnect between a stable idle containership fleet, which hovered around 3% of the global fleet for much of the summer despite a downturn in demand, is partly due to the other capacity adjustment management measures taken by carriers, including slidings and super-slow steaming, used in addition to blanking programmes to soak up surplus capacity.” WHAT DOES THIS MEAN? Less ships = less sailings = tight space on the services that are on offer = your cargo may not depart as planned = freight rates are sure increase On an unrelated note 🤣 😉 Shipping line predicted earnings for Q3 are quite the mixed bag with some lines anticipated to show losses, while others will show profits (albeit not as large as previously has been seen). (Link in comments) https://lnkd.in/g7iQzMhF
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Interesting read on shipping industry.
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Due to DP World's construction works to reconfigure the landside truck grids in the West Swanson Terminal, 35% of the landside capacity has been removed. This has caused major congestion within the terminal for many weeks leaving much longer turnaround times and canceled plans for import pick-ups and reschedule deliveries. Coupled with these landside constraints, DP World has a very heavy program of vessel arrivals this week and next week: • 10 vessels are advertised as having import availability between now and 7th of June; while • 10 vessels have export receivals at the Terminal up until 7th of June 2024. Furthermore, businesses should anticipate a longer period of congestion due to the effect of the West Gate Tunnel Project on Footscray Road and the Dock Link Road intersection in the Swanson Dock. We advise clients and partners to coordinate with our customer support team and have a proactive plan to address this ongoing congestion. #McHughandEastwood #FreightForwarding #Logistics #DPWorld #MelbournePort #LogisticsUpdates
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Lloyd's List and other shipping media reported Drewry's quantified assessment and forecast concerning the impact of the Red Sea attacks on container shipping, carriers, supply-demand and shippers For more specific forecasts, contact [email protected] #drewry #supplychains #containers #benchmarking #ocean #shipping #rates #logistics #transportation #freightforwarding #containershipping #lloydslist https://lnkd.in/dmxixqRg
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How much do you know about logistics history? 🚢 🚛 ✈ Tranco Tributes is a series where we highlight the centuries of innovation that shaped our industry into what it is today. Today’s Tribute? The First Container Ship! The first dedicated container vessel was the Ideal-X, which left the Port of Newark, NJ on April 26th, 1956, bound for Houston, Texas. Built by trucking magnet and visionary Malcolm McLean, the ship was actually an oil tanker retrofitted to handle 58 specially designed 8 x 8 containers. While McLean anticipated a significant reduction in labor costs, even he could not have imagined the impact his vessel would have on the shipping industry. Pretty soon, ports began reorganizing their loading processes using jumbo cranes, and container sizes became standardized for global use. Mclean’s vessel changed everything about how ocean freight is loaded, shipped, and unloaded all over the world! 🌎 🌍 🌏 #trancotribute #logistics #history #oceanfreight #wespeaklogistics
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Deputy Chief Marine Firefighting Division IES
5moIES Deputy Chief Mike Oder and DonJon-SMIT Deputy OPA 90 Program Manager Marion Weinand visited Toledo, Ohio to perform a winter lay up walk through of several Great Lake Bulkers owned by Key Lakes Inc, Grat Lakes Fleet. Key Lakes personnel included Sam Buchannon, Captain Richard Laskey and Andy McFall.