⚓ Your Weekly Maritime News - 05
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Today's Wisdom from the Waves; 🌊
“🌊 Life is like the ocean, it can be calm or still, and rough or rigid, but in the end, it's always beautiful." - Walt Disney
🚢 Navigating Knowledge: Container Shipping Quiz Time! 🚢
1- Malcom McLean: The Father of “Containerization”
2- Global Growth Slows in Q3
S&P Global PMI surveys show July's economic growth slowdown worldwide.
Service sector's recovery weakens 2nd month, manufacturing downturn deepens.
Hiring slows from reduced orders, weaker business outlook. EU, US, China hit, India & Japan more resilient.
3- Maersk's Market Share Falls to 15%
As per Alphaliner latest report, Maersk's market share drops sharply from 18.5% to 15.2%, placing it second after MSC, as other carriers grow.
Maersk pledges not to exceed 4.3 MTeu fleet capacity, focusing on transformation into a global integrator of container logistics.
Fleet reduction of 1.4% in 2022 and further 2.1% in H1 2023, while revenue from logistics and terminal activities continues to grow.
4- Resilient Reefer Shipping Amidst 2022 Contraction
According to Drewry recent report, Reefer container freight rates outperform dry cargo trade despite a 2022 decline in reefer seaborne trade.
Gradual recovery in reefer cargo demand since the start of 2023 highlights trade resilience.
Seaborne reefer cargo fell by almost 1% in 2022 due to disruptions and normalized demand. Recovery in 2023 driven by global population growth and Asian economic rebound.
Reefer container freight rates decline moderately but remain 60% above pre-pandemic levels.
5- Stock Markets Remain Weak Due to Negative Outlook
6- Brent Crude Oil Exhibits Constrained Outlook
Investors cautious due to upcoming US inflation data
Fed's Bowman suggesting tighter monetary measures impacts risk appetite
China's economic slowdown lowers petroleum demand; potential incentives could boost it.
US crude stocks unexpectedly rise by 5.9 million barrels, confirming weakened demand.
7- Carriers Drive Slot Additions Amid Industry Challenges
According Alphaliner, MSC's fleet growth involves active second-hand market engagement and new vessel deliveries.
The whole sector, particularly the fastest-growing carriers, faces challenges in absorbing the more capacity from new vessels.
8- China Vs USA - Trade Evolution Over 20 Years
Countries whose largest trading partner is China or the USA.
9- Hapag LLoyd - Shareholders
Kühne: majority owner of Kühne + Nagel, shareholder since 2009.
CSAV: shareholder since merger with CSAV in 2014.
HGV Hamburg: City of Hamburg, shareholder since 2009.
Wealth funds of Qatar & S. Arabia: after the merger with UASC in 2017.
10- Two Key Players Influencing Decarbonization
According to MMM Center for Zero-Carbon Shipping, Among the many players with a role in the maritime sector, two types of market participants play a central role influencing the pace of decarbonization. These are:
Ship owners and operators as maritime shipping providers (MSPs),
Users of shipping as maritime shipping users (MSUs).
Each has key leverage over the sector’s energy transition due to its central placement in the network of shipping operations and shipping demand, respectively.
