⚓ Your Weekly Maritime News - 14
Greetings, Fellow Seafarers! ⚓🌊
Get ready to embark on an exciting odyssey through the vast world of the sea.
Your unyielding love for all things nautical is our North Star, driving us to unveil new horizons and deliver the most captivating updates curated especially for you.
As we embark on this collective voyage, we'll plunge into the limitless ocean of maritime knowledge, charting each wave, unearthing concealed treasures, and revealing the maritime marvels that lie ahead! 🚢🔍✨
Today's Wisdom from the Waves; 🌊
"The sea, the great unifier, is man's only hope. Now, as never before, the old phrase has a literal meaning: we are all in the same boat." - Jacques Yves Cousteau
🚢 Navigating Knowledge: Container Shipping Quiz Time! 🚢
*Last Week’s Answer: Container Overboard
1- Where are ships built, owned, registered and scrapped from 2015 towards 2023?
🚢 Cast Your Vote: Container Shipping Insights Poll! 🚢
Last Week's Insight: 46% of our followers consider Real-Time Container Tracking 'absolutely vital,' while the other 64% see it as 'important for efficiency' in optimizing their supply chain operations.
2- Container Shipping Market Shows Signs of Recovery
Global container shipments upby 3.7% YoY in August, signaling turnaround.
YTD volumes in 2023 are now closer to matching 2022, with a 3.3% decline.
CTS projects a 1.2% decrease in 2023 loaded traffic compared to 2022.
N America saw improved import volumes but declining exports in August.
Drewry Shipping Consultants downgraded the 2023 global port handling outlook to -0.2%, indicating slower growth compared to earlier forecasts.
3- Africa Emerges as Container Bright Spot
Containerized imports into Africa see a 10.1% increase in 2023 compared to 2019.
The Asia-Africa market records a remarkable 19.6% year-to-date growth in 2023.
Despite growth, Asia-Africa trade accounts for only 3.2% of global deep-sea volumes.
Rapid urbanization in Africa fuels demand for containerized goods.
The African Continental Free Trade Area (AfCFTA) promises to boost shipping opportunities.
4- N. America and Africa Face Container Trade Imbalance
N. America and Africa import 2.5 times more loaded containers than export.
Empty steel containers have become their primary export, causing inefficiency, high costs, and environmental concerns.
The annual cost of transporting empty containers is estimated at a staggering $16 billion.
5- OOCL Reports 65% Revenue Decline Despite 6.7% Container Volume Growth
OOCL recorded a -65% decline in revenues in Q3, amounting to $1.76 billion.
TEU increased by +6.7% to reach 1.86 million TEUs in the same period.
Loadable capacity also grew by 13.6% compared to Q3/2022.
However, the average revenue per TEU dropped by 67.3% compared Q3/2022.
Revenues of 9M/2023 decreased by -61.8% to $5.9 billion, while volumes increased by 1.5% to around 5.5 million TEUs.
Conditions may deteriorate further in Q4, with Asia-Europe rates declining.
6 -MSC China: World's Largest Container Ship Launched in Shanghai
MSC China, the world's largest container ship, was delivered in Shanghai with a capacity of 24,116 TEUs.
Built by Hudong Zhonghua Shipyard under China State Shipbuilding Corporation, it surpasses the Ever Alot in capacity.
This is the last of a series of four similar ships, with MSC Tessa being the first.
MSC China is enormous, with a length of 399.99 meters and advanced eco-friendly technology.
Shanghai is now a leading hub for developing ultra-large container ships.
7- COSCO Group's Fleet Nears 3 M TEU with New Mega-max Ship
COSCO is about to surpass 3M TEU in its fleet with the arrival of the mega-max ship OOCL ZEEBRUGGE.
The group previously reached 2.90 M TEU after acquiring OOCL.
COSCO and OOCL have multiple vessels on order, totaling 54 new buildings with a combined capacity of around 0.90 M TEU.
8- Record Container Ship Orders Driven by Green Initiatives
- Carriers have ordered 187 container ships in 2023, totaling 1.75 million TEU.
- "Green" ships, powered by methanol and LNG, make up 83% of new capacity.
- The global vessel orderbook hits a record 7.88 million TEUs.
- Methanol-powered ships represent 52% of new capacity, LNG ships 31%.
- Ammonia emerges as the next "green" fuel option.
🚢 Cast Your Vote: Container Shipping Insights Poll! 🚢
9- Container Shipping Stocks Decline After Antitrust Exemption Removal
Container shipping stocks plummet after the European Commission announces removal of liner block exemption.
Stock price declines for major shipping lines, including Evergreen (-6.8%), Yang Ming (-5.4%), Maersk (-4.0%), Wan Hai (-3.6%), Hapag-Lloyd (-3.2%), HMM (-2.6%), and ZIM (-1.1%).
The regulatory change is the primary driver of this decline. Another driver is sector weakness throughout the year.
10- Hapag Lloyd Revenue Vs. Cost Performance - H1/2023
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