#Maritime

260 containers lost, 65 damaged in Maersk Eindhoven at-sea mishap

A.P. Møller – Maersk has confirmed 260 containers were lost overboard and an additional 65 damaged on the deck of the Eindhoven on Wednesday.

“As previously reported, the Maersk Eindhoven experienced a loss of engine propulsion for three to four minutes while sailing 45 nautical miles off northern Japan in heavy seas,” a spokesman said Friday. “The loss of maneuverability resulted in severe rolling with 260 containers overboard and 65 containers damaged on deck. 

“Customers were advised...

https://www.freightwaves.com/news/260-containers-lost-65-damaged-in-maersk-eindhoven-at-sea-mishap

All eyes turn to timing of tanker rate resurrection

Frontline tanker

Crude tankers are seeing “classic signs of recovery.” “Newbuilding orders are extremely low. We have the lowest orderbook is in 25 years.” On the product-tanker side of the equation, “refineries are shutting down so products are being shipping from further away, which is very interesting from a ton-mile point of view.”

Those quotes are from a shipping conference in New York in 2011, a full decade ago.

A few quotes circa-2017: “New capacity additions for global refineries are set to double, a...

https://s29755.pcdn.co/news/all-eyes-turn-to-timing-of-the-tanker-rate-recovery

Hapag-Lloyd CEO: COVID, congestion, container shortage form ‘perfect storm’

All eyes are on California’s San Pedro Bay. Hapag-Lloyd focused on the congestion crisis at the ports of Los Angeles and Long Beach during a virtual press conference conducted Thursday from Germany with media outlets around the globe. 

“Today there is fairly extreme port congestion,” Hapag-Lloyd CEO Rolf Habben Jansen said, sharing an image crowded with dots representing ships anchored in San Pedro Bay waiting to berth. Jansen did not count the dots, but Port of LA Executive Director Gene Seroka...

https://www.freightwaves.com/news/hapag-lloyd-ceo:-covid-congestion-container-shortage-form-perfect-storm

The big get bigger in public dry bulk shipping

dry bulk ship

The largest U.S.-listed dry bulk shipping companies are buying up ships in the secondhand market in anticipation of higher rates ahead.

During conference calls on Thursday, executives of both Golden Ocean (NASDAQ: GOGL) and Star Bulk (NYSE: SBLK) highlighted stronger fundamentals for 2021, with vaccine-fueled cargo demand growth expected to outpace vessel supply growth.

According to Star Bulk CEO Petros Pappas, “Clarksons expects the dry bulk trade to expand by 3.7% in terms of ton-miles. On the...

https://www.freightwaves.com/news/the-big-get-bigger-in-public-dry-bulk-shipping

Global Supply Chain Week Days 6-8 preview: Maritime

While the theme of the final three days of FreightWaves’ eight-day virtual summit is global maritime logistics, the scope truly will cover the world of shipping, from containers on the ocean to cargo in the air and the geopolitical issues that cloud worldwide trade. 

Getting goods from point A to point B when there are customs and international regulatory hurdles is an ever-evolving challenge, so expect to hear thought-provoking conversations on global logistics, importing and exporting,...

https://s29755.pcdn.co/news/global-supply-chain-week-days-6-8-preview:-maritime

Another Maersk ship sailing for LA loses containers

A.P. Møller – Maersk has confirmed yet another midocean loss of containers.

A Maersk spokesman told American Shipper that while en route from Xiamen, China, to Los Angeles on Wednesday, the Maersk Eindhoven “experienced an engine stop in heavy seas near Japan during her crossing, resulting in the loss of a number of containers overboard.”

Maersk did not provide an approximate number of containers lost, only saying that “a detailed cargo assessment is ongoing.” 

The Eindhoven is deployed on...

https://s29755.pcdn.co/news/another-maersk-ship-sailing-for-la-loses-containers

62 ships at anchor in San Pedro Bay on Wednesday

Sixty-two vessels, including 20 container ships destined for the Port of Los Angeles, were at anchor in San Pedro Bay early Wednesday afternoon.

“If we do nothing, we will still have vessels at anchor come midsummer,” Port of LA Executive Director Gene Seroka said during a press conference Wednesday. 

“Under normal conditions, we usually don’t have any container ships at anchor. Before the import surge, we would see 10 to 12 container vessels at berth on a typical day here at the Port of LA....

https://s29755.pcdn.co/news/62-ships-at-anchor-in-san-pedro-bay-on-wednesday

Chinese factories won’t build enough containers to save US shippers

containers

There are still not enough containers in the right places to carry the world’s cargoes. The hope was that Chinese container factories would shift into ultra-high gear — that the industry would build its way out of the equipment crisis.

It hasn’t happened.

In fact, Chinese factories are intentionally not going into their highest gear, according to Tim Page, interim president and CEO of container-equipment lessor CAI International (NYSE: CAI). Instead, they are managing output to keep prices high.

Th...

https://s29755.pcdn.co/news/chinese-factories-wont-build-enough-containers-to-save-us-shippers

Regulator to order container detention reports from ocean carriers

A federal maritime regulator is ordering the world’s largest containership companies to provide her agency with container detention and demurrage information to ensure they’re meeting their legal obligations.

The orders, announced Wednesday by Commissioner Rebecca Dye of the Federal Maritime Commission (FMC), are being issued under Dye’s authority as the fact-finding officer for the FMC’s Fact Finding 29, “International Ocean Transportation Supply Chain Engagement.”

Ocean carriers operating in an...

https://www.freightwaves.com/news/regulator-to-order-container-detention-reports-from-ocean-carriers

US exposes North Korea blockchain plot to evade ship sanctions

A North Korean computer hacker has been charged in a plot using blockchain to get investors to unknowingly fund North Korean cargo ships with cryptocurrency as a way to evade U.S. sanctions.

The hacker, known as Kim Il, was part of a group of three computer programmers named in a federal indictment unsealed Wednesday in Los Angeles by the U.S. Attorney’s office. The indictment exposes a wide-ranging conspiracy to steal and extort more than $1.3 billion in money and cryptocurrency from financial...

https://www.freightwaves.com/news/us-exposes-north-korea-blockchain-plot-to-evade-ship-sanctions

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