Hapag-Lloyd CEO: US consumer still ‘holding up,’ demand not collapsing

photo of a container ship

The container shipping outlook from Hapag-Lloyd, the world’s fifth-largest liner company: Demand is moderating, spot freight rates should keep ticking lower, and congestion — currently very high — should abate. But demand is not collapsing. Congestion in some regions, such as the U.S. East Coast, is more stubborn than in others. And higher contract rates will offset spot rate declines, leading to near-record second-half profits.

Container shipping demand

“The U.S. consumer seems to be holding up...


Yang Ming: Revenue up nearly 50% — end of story

Yang Ming Marine Transport Corp. released a brief financial statement Thursday in which it announced net profit for the first six months of 2022 totaled $4.04 billion. 

Yang Ming does not typically share wordy earnings reports, but Thursday’s news release was even briefer than usual — only one paragraph long, about 150 words and numbers. 

The Taiwanese ocean carrier said Q2 consolidated revenue, converted to U.S. dollars, totaled $3.8 billion. It said that represented a 49.4% improvement from the...


HMM cautious in short term despite Q2 profit long jump

HMM reported Wednesday its operating profit shot up by 153% year over year, but the South Korean ocean carrier isn’t counting on revenue figures to be quite as impressive in the second half of 2022.

Seoul-headquartered HMM said the operating profit for the first half of 2022 was KRW 6.08 trillion ($4.68 billion), up from KRW 2.4 trillion ($1.8 billion) in the first six months of 2021. 

First-half revenue leapt by 87% year over year from KRW 5.33 trillion ($4.1 billion) to KRW 9.95 trillion ($7.66...


Tanker shipping stocks pull away from the pack, hitting fresh highs

a photo of Wall Street; shipping stocks are seeing mixed fortunes

Shipping stocks are not considered “buy and hold” investments these days — for good reason. It’s all about timing. Case in point: Tanker stocks are now soaring after years mired in negative territory.

Fresh 52-week highs were hit Tuesday by Scorpio Tankers (NYSE: STNG), Ardmore Shipping (NYSE: ASC), Euronav (NYSE: EURN), DHT (NYSE: DHT), International Seaways (NYSE: INSW) and Teekay Tankers (NYSE: TNK).

Tankers stocks are up double digits year to date (YTD), in some cases triple digits. However,...


July volumes at Georgia Ports Authority climb 18%

An aerial photograph of a berth at the Port of Savannah.

July volumes at the Georgia Ports Authority were 18% higher year over year, kicking off what the operator says is “the fastest start ever” for a new fiscal year.

GPA handled 530,800 twenty-foot equivalent units in July. The 2023 fiscal year runs from July 1 to June 30, 2023.

Since January, GPA has handled 3.4 million TEUs, which is 7% higher than the same period in 2021. 

July’s volume growth comes as East Coast and Gulf Coast ports have been seeing an increase in vessels as operators seek to...


No precipitous plunge in container shipping rates, just ‘orderly’ decline

A photo of a container ship; rates remain high

There’s an old Greek shipping saying that goes: “Ninety-eight tankers and 101 cargoes, boom. Ninety-eight cargoes and 101 tankers, bust.” This doesn’t translate so well into modern-day container shipping because the consolidated liner sector manages the number of ships in service a lot better than the fragmented tanker business.

Tanker spot rates can plunge violently lower when supply exceeds demand. One of the big questions for container shipping has been: Will spot rates plunge precipitously...


Performance Team breaks ground on South Carolina cold chain facility

Performance Team – A Maersk Company will open a cold storage facility in Charleston, South Carolina, early next year designed to get imports of proteins, fruits and vegetables to 80 million U.S. consumers within one day and 225 million consumers within two days. 

“We have been evaluating South Atlantic cold chain market opportunities for the past three years, and this opportunity stood out in a strong way for a number of good reasons. The South Atlantic is one of the fastest-growing areas in the...


War effect on crude trade: Long-lasting and just beginning

photo of a crude oil tanker

Is the shift in global crude flows due to the Ukraine-Russia war a fleeting event or a more lasting, structural change?

At first, many market watchers and investors viewed it as short-lived. It now seems like something to count on for at least the medium term. More Russian crude will likely head to India and China for a longer period of time, and more Atlantic Basin and Middle East crude will head to Europe to replace Russian barrels.

“Oil supply chain disruptions related to Russia’s invasion of...


Πρόσθετες χρεώσεις των liners για «υπέρβαρα» φορτία

Αυξάνονται οι εταιρείες μεταφοράς εμπορευματοκιβωτίων που προβαίνουν σε πρόσθετες χρεώσεις για «υπέρβαρα» εμπορευματοκιβώτια που αποστέλλονται από την Ινδία σε άλλους προορισμούς, προκαλώντας έτσι έναν επιπρόσθετο πονοκέφαλο στους Ινδούς εξαγωγείς.

Πιο πρόσφατο παράδειγμα αποτελεί η απόφαση της CMA CGM για πρόσθετη επιβάρυνση $1.000 για οποιοδήποτε υπέρβαρο εμπορευματοκιβώτιο το οποίο πρόκειται να μεταφερθεί στην Ανατολική, Δυτική Ακτή και στον Κόλπο των ΗΠΑ, καθώς και στον Καναδά. Η εν λόγω...


Συνεχίζεται η διόρθωση τους ναύλους των containerships

Την πτωτική τους πορεία συνεχίζουν οι ναύλοι των containerships όπως προκύπτει από την πορεία του δείκτη της Drewry World Container Index.

Ο εβδομαδιαίος δείκτης της Drewry, που λαμβάνει υπόψη τους ναύλους στη spot αγορά των containerships σε κύρια routes, κατέγραψε την 23η διαδοχική πτώση του την εβδομάδα 28/07-03/8 και διαμορφώθηκε στα $6.628,29 /FEU. Πρόκειται για πτώση 2% σε σχέση με την περασμένη εβδομάδα και πτώση 29% συγκριτικά με την αντίστοιχη εβδομάδα του 2021.

Στα επιμέρους routes η...


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