Braemar

Vessel deliveries set to outpace growth in new year

Deliveries of new ships will double the excess capacity after Red Sea diversions have absorbed the vast swathe of new tonnage delivered this year, following the Houthi’s attacks on shipping passing close to its coasts.

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https://container-news.com/vessel-deliveries-set-to-outpace-growth-in-new-year/

No turning back from shift towards fleet renewal

Vessel ordering is continuing apace with Hapag-Lloyd confirming it is negotiating with yards for a 24-ship order and Maersk’s rumoured order of 22 LNG dual fuel vessels worth in excess of US$4 billion.

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Mary Anne Evans
Correspondent at Large


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https://container-news.com/no-turning-back-from-shift-towards-fleet-renewal/

Braemar: Updating ageing feeder sector critical

Hub and spoke maritime supply chains, while always in use, are becoming increasingly important, with the Gemini Cooperation to be launched in a few months an example, but the feeder sector is in anything but ship-shape, according to shipbroker Braemar.

According to the broker’s figures, the orderbook for vessels in the 1,000-3,000 TEU size range is well below the level of expected scrapping given the number of ageing ships in the fleet and the incoming environmental regulations that will impact...

https://container-news.com/braemar-updating-ageing-feeder-sector-critical/

Booming charter market driven by mid-sizes

The container market is on fire, according to Braemar which outlines the combination of geopolitical upheaval and market economics that is driving parts of the charter market ever upwards, with every sector in the broker’s index on the up.

Braemar’s Monday Briefing note, for 10 June, suggested that charter periods are becoming longer, even for feeder vessels of under 2,000 TEU, that were lagging behind the larger sized vessels, while the same report pointing to rumours of a “batch of 3,500 TEU...

https://container-news.com/booming-charter-market-driven-by-mid-sizes/

China backhaul costs mirror headhaul rate shifts

Rates on the Europe to Asia trades have mirrored headhaul trades with China’s import cargo paying more for carriage since the Red Sea crisis hit the industry in December.

At the end of last year, eastbound cargo out of European ports of origin was US$303/FEU, in January, as in the headhaul trade, rates started to climb as carriers diverted around the Cape, peaking at US$1,066/FEU on 1 February according to Xeneta, which shows rates on the slide again, now down to US$866/FEU.

“These developments...

https://container-news.com/china-backhaul-costs-mirror-headhaul-rate-shifts/

Red Sea challenges boost charter rates

Analysts and brokers are continuing to report charter rates spiralling upwards as carriers look to plug gaps in their diverted Asia to Europe services as rates, which were falling decisively in early December, make a rapid rebound.

Linerlytica’s charter index increased 5% last week with the larger sizes getting the biggest boost as supply was limited.

“Maersk and CMA CGM have been particularly active in recent weeks, along with smaller carriers such as SeaLead and Tailwind that have been keen to...

https://container-news.com/red-sea-challenges-boost-charter-rates/

Braemar sees looming crisis in feeder sector

Demand for feeders is rising mainly as a consequence of the Red Sea crisis which has had a knock-on effect on demolition, but ultimately the ageing feeder and regional fleet will need replacing.

Following the Houthi Movement’s attacks on commercial shipping at the Bab al-Mandeb strait major liner operators have diverted their services around the African Cape, but this means ships no longer transit the Mediterranean, requiring cargo to be feedered to southern European destinations.

That has seen...

https://container-news.com/braemar-sees-looming-crisis-in-feeder-sector/

Demolition to stay in the doldrums

Any expectation that capacity will be removed from the market over the coming year is being scotched by market analysts who say that the age profile of vessels points to depressed scrapping over the coming year.

Only 82 boxships have been scrapped to date in 2023, amounting to just 145,50 TEUs, which has been more than offset with 40 ships of 247,441 TEUs delivered over the last 30 days alone, according to an analysis by Linerlytica.

This is a significant increase on the 23 ships demolished in...

https://container-news.com/demolition-to-stay-in-the-doldrums/

Golden week holidays no barrier to rate index decline

Rates on the two major trades to Europe and the United States continued to slide even as workers begin their slow return to factories in China following the Golden Week holidays.

Last week’s shutdown of production in China included the Shanghai Container Freight Index (SCFI) which will resume publishing its rates this week with the headhaul Pacific rates already US$200/FEU below the last SCFI value.

Spot freight rates to Europe were set at a pre-Golden Week level of US$1,166/FEU but are now said...

https://container-news.com/golden-week-holidays-no-barrier-to-rate-index-decline/

Falling steel prices reveal glut of demolitions to come

The declining price of steel prices are a barometer for the rise in demolitions in the container shipping sector according to Braemar, the London-based shipbroker.

Given that scrapping prices were at a high in March 2022, at US$685ldt, as vessels delivered for demolition fell to a measly four ships in the year, prices have taken a plunge as the scrappage rate has accelerated in 2023 with demolitions expected to continue to increase into 2024 and 2025.

Current prices paid by scrapyards are...

https://container-news.com/falling-steel-prices-reveal-glut-of-demolitions-to-come/

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