Containership owner Global Ship Lease (GSL) has announced the five-year charters of two sister 8,667 teu post-panamax vessels to MSC.
The carrier is continuing to snap up any large tonnage that comes on the market to cover its large scrubber installation programme that will see a substantial number of its ships out of service before the IMO 2020 regulations come into force.
The fixture of the 2004- and 2005-built ex-OOCL-owned ships will …
Charter parties
Seaspan gains $227m charter penalty windfall from Ocean Network Express
More detail is emerging on the significant indirect costs incurred by Japan’s K Line, MOL and NYK when they merged their container businesses into Ocean Network Express (ONE) last year.
Non-operating containership owner Seaspan Corporation said today it had received a penalty contract payment of $227m from a ONE equity owner – which would either be K Line or MOL, as NYK does not have any ships on charter from Seaspan.
The payment related to the early termination of the charter parties of...
https://theloadstar.com/seaspan-gains-227m-charter-penalty-windfall-from-ocean-network-express/
MPV and heavylift sector facing mid-term headwinds as global trade slows
The multipurpose vessel (MPV) and heavylift shipping sector is set for 3.8% growth this year, declining to 1.4% in 2020, as the global economy slows and competition for cargo grows, according to Drewry.
The maritime consultant said the sector would see “strengthening rates through 2019 fuelled by rising project cargo traffic, but prospects thereafter are muted by an anticipated slowdown in world trade”.
Acknowledging that the trade dispute between the US and China appeared to be “moving...
https://theloadstar.com/mpv-and-heavylift-sector-facing-mid-term-headwinds-as-global-trade-slows/
Good news for shipowners as the charter market perks up at last
The charter market has finally turned for containership owners, as ocean carriers snap up available tonnage for new service launches and cover for ships entering dry dock for scrubber installation.
Alphaliner estimates that the market has been skewed by around 200 containerships being taken out of service for up to 40 days, obliging carriers to seek temporary replacements.
According to the consultant’s latest survey, the number of container vessels in hot or …
The post Good news for shipowners...
https://theloadstar.com/good-news-for-shipowners-as-the-charter-market-perks-up-at-last/
IMO 2020 fuel restriction may prove a ‘windfall’ for the charter market
MSC, Maersk, Cosco and CMA CGM are among ocean carriers that expect to temporarily increase their capacity this year to mitigate the downtime as ships are retrofitted with scrubbers, or for the decontamination of tanks to accommodate compliant fuels, ahead of IMO 2020.
Notwithstanding seasonal supply and demand drivers, containership owners are anticipating a charter market boost in the second half of the year, as operators prepare for the introduction of …
The post IMO 2020 fuel restriction may...
https://theloadstar.com/imo-2020-fuel-restriction-may-prove-a-windfall-for-the-charter-market/
IMO 2020 fuel rule will be a ‘game-changer’ for ‘top-heavy’ container charter market
With 1.15m teu of newbuild capacity, including 46 ULCVs, expected to be delivered, 2019 is set to be another “interesting year” in container shipping, according to Alphaliner.
Due to the “top-heavy” orderbook, the consultant is predicting a tighter outlook for tonnage in the 10,000 teu and under sector and a more modest global fleet expansion of around 3.5% than the 5.7% growth of last year.
At the end of the year, the world’s …
Charter market ends 2018 on a gloomy note but hopes for low-sulphur silver lining next year
The short-term market outlook for non-operating containership owners is “grim” according to Alphaliner, but there could be a silver lining from the IMO 2020 regulations next year.
“The container charter market is ending 2018 on a rather uninspiring note, with continuously weak charter rates across the board,” said the consultant.
It added that given the start of the holiday season, which will stymie most deals until at least the second week of …
MPC gambles on scrubbers
Fast-growing Norwegian feeder vessel owner MPC Container Ships has placed firm orders for the installation of exhaust gas cleaning system scrubbers on five of its ships, with options on 50 more of its 68-strong fleet, reports Ship & Bunker.
MPC said its decision to invest in scrubber technology was in response to “significant interest from charterers”, who would otherwise need to use the more expensive low-sulphur fuel (LSFO) when the IMO’s 0.5% …
The post MPC gambles on scrubbers appeared first...
Seaspan still focused on container shipping, despite diversion into energy sector
Boxship lessor Seaspan Corporation says it remains “fully focused” on growing its non-operating containership-owning business, despite its recent decision to invest in the energy sector.
In a lengthy Q&A session, part of its third-quarter earnings call yesterday, management repeatedly denied that a potential $200m investment in the restructured Singapore-listed Swiber Group meant it was no longer interested in container shipping.
Chairman David Sokol said Seaspan would “continue to look at...
https://theloadstar.co.uk/seaspan-still-focused-container-shipping-despite-diversion-energy-sector/