Braemar

MSC buys more second-hand ships and may be eyeing Seaspan newbuilds

The world’s largest non-operating containership owner, Seaspan Corporation, has ordered five newbuild 12,200 teu vessels, backed by 18-year charters with a major ocean carrier.
“All five vessels will commence long-term charters with a leading global liner company and are subject to vessel purchase obligations at the conclusion of the charters,” said Seaspan.
But it gave no details of the charterer, other than that it is a “long-standing customer”, or the construction yard.
“Executing …

The post M...

https://theloadstar.com/msc-buys-more-second-hand-ships-and-may-be-eyeing-seaspan-newbuilds/

High charter rates could freeze boxship demolition market

The high charter rates the market is experiencing are likely to halt container ship demolitions until time charter rates being reduced, according to Jonathan Roach, a container market analyst at UK-based shipbroker Braemar.

“Some vessels which were potential demolition candidates have been fixed or extended well into 2021 and will likely be reconsidered for demolition after redelivery from their current charter,” Roach told Container News.

Braemar’s BOXI containership index hit 100 points this...

https://container-news.com/high-charter-rates-could-freeze-boxship-demolition-market/

Ocean carriers on a high and ‘surfing a wave’ of profitability

Ocean carriers are “taking advantage of the moment”, according to Alphaliner, boosting their balance sheets on the back of booming demand and all-time high spot rates.
Carriers are “surfing a wave”, said the consultant, but added that mid-term visibility was low and global growth predictions for next year and beyond were shrouded in uncertainty.
Alphaliner said 2020 would be remembered as “one of the strangest years” for container shipping, with carriers issuing …

The post Ocean carriers on a...

https://theloadstar.com/ocean-carriers-on-a-high-and-surfing-a-wave-of-profitability/

Demolition market volatility will see 100 boxships scrapped this year

Approximately 100 container ships, aggregating 240,000TEU, are expected to be demolished during 2020, according to Jonathan Roach, a container trade and shipping analyst from Braemar ACM Shipbroking.

During the first three quarters of this year, it is estimated that 81 container vessels totalling 193,000TEU have been sold for demolition, which is around a 15% year-on-year increase in terms of TEU capacity. During the corresponding period in 2019, the industry saw approximately the same number of...

https://container-news.com/demolition-market-volatility-will-see-100-boxships-scrapped-this-year/

With the charter market still booming, carriers chase ‘any box ship still floating’

Ocean carriers flush with cash after an estimated cumulative $1.8bn Q2 net profit and with even better results predicted for Q3, are targeting the S&P market for quality second-hand tonnage.
MSC, which does not publish results, but as the second-largest carrier can be assumed to be trading highly profitably, has completed the purchase of the 5,456 teu post-panamax SM Tacoma, at a reported $10.5m, from ship recycler GMS.
The 20-year-old ship was …

The post With the charter market still booming,...

https://theloadstar.com/with-the-charter-market-still-booming-carriers-chase-any-box-ship-still-floating/

Another Costamare scrapping comes after demolition market upturn

Hong Kong Convention compliant ship-breaking is receiving more green recycling enquiries, especially for container ships, according to a Braemar shipbroker analyst.

One of the ships that has been sent to Hong Kong for scrapping is reportedly Costamare’s 4,900TEU container vessel, Singapore Express. The Greek shipping company has agreed to sell the 2000-built boxship in Hong Kong for US$7.3 million (US$365/ltd), according to reports.

Singapore Express, which came off a time charter with...

https://container-news.com/another-costamare-scrapping-comes-after-demolition-market-upturn/

Economic indicators ease as Hapag increases Asia-Europe capacity

In some positive economic news the shipbroker Braemar Shipping reported that China’s economy, which saw a severe decline in the first quarter, returned to growth in the second three-month period.

Figures released last week show China’s economy grew 3.2% in the first three months of the year, with the country’s industrial production increased 4.8% year-on-year in June 2020, “the largest increase in six months,” said the broker.

While the latest figures from Beijing do not mean that the economic...

https://container-news.com/economic-indicators-ease-as-hapag-increases-asia-europe-capacity/

Pandemic effects force lines to continuous schedule adjustments

In terms of blanked sailings and capacity management, there are no signs of recovery going forward into the third quarter, according to a Braemar container trade and shipping analyst, as the peak season demand is likely to be subdued.

“A controlled and phased blanked sailing strategy will continue and when demand recovers, a phased and controlled re-introduction of tonnage is likely to happen. Liner companies will aim to maintain rates rather than increase them significantly,” the Braemar...

https://container-news.com/pandemic-effects-force-lines-to-continuous-schedule-adjustments/

Lines turn a crisis into a buck

Carriers are set to enjoy a US$9 billion bonanza as a result of their successful capacity management programme throughout the pandemic period, which is set to continue into the third quarter.

Alan Murphy at Sea-Intelligence believes that the carriers have created a situation as a result of the Covid-19 crisis where they have a choice, start a rate war, the old style of competition, which could lead to a loss of US$7 billion or to maintain and raise rates and make a profit by continuing to manage...

https://container-news.com/lines-turn-a-crisis-into-a-buck/

Another Costamare demolition marks the limit of scrapping candidates

Shipbroker Braemar is forecasting a significant increase in the demolition of feeder ships in the sector makes up the bulk of the 550 idled vessels, with 920 ships in the current aged over 20-years old.

One hundred and thirty vessels in the 1,000-1,999TEU range are idle and 287 of these units are over 20-years old, while only 70 newbuildings are expected up to be delivered by the end of 2022.

Jonathan Roach, a container shipping researcher at Braemar, told Container News, “Position lists for...

https://container-news.com/another-costamare-demolition-marks-the-limit-of-scrapping-candidates/

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