http://www.joc.com/node/412708Israel Corp.
to Give Zim $350 Million Boost
Bruce Barnard Aug 3, 2009
The Journal of Commerce Online
- News Story
Container Lines
Maritime
Zim's first quarter net loss widened to $119 million from $29 million a year earlier and revenue slumped to $622 million against $1.04 billion as traffic shrunk by 33 percent to 410,000 TEUs from 610,000 TEUs.
Zim is the world's sixteenth largest ocean carrier with 30 owned ships and 65 chartered vessels aggregating 287,930 TEUs, according to Alphaliner, a Paris-based consultant.
The carrier has 29 ships of 244,604 TEUs on order, equivalent to 85 percent of its current fleet capacity
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http://www.joc.com/node/411659
Idled Box Fleet Shrinks
Bruce Barnard Jun 2, 2009 The Journal of Commerce Online - News Story
But some carriers continue to have a very high percentage of their fleet unemployed, led by Malaysia's MISC which has idled 28 percent of its capacity.
Zim, the Israeli carrier, has taken out 20 percent of its capacity and APL has withdrawn 19 percent of its fleet.
Maersk Line, the world's biggest carrier, has temporarily laid up six percent of its owned fleet, or just over 120,000 TEUs.
The top 22 carriers have idled 6.6 percent of their operated fleet, equivalent to 728,000 TEUs.
The collective cost of idling these ships is around $4 million a day, AXS estimates.
Charter owners have idled 322 ships, taking the total unemployed fleet to 521 ships of 1.3 million TEUs, or 10.2 percent of total capacity. The idled fleet peaked at 484 ships of 1.41 million TEUs, or 11.3 percent of global capacity, in mid-March.
The jobless fleet includes seven vessels between 7,500 and 10,000 TEUs and 49 of 5,000 to 7,500 TEUs. There are 146 ships of 1,000 to 2,000 TEUs without work, most operated by charter ship-owners
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Box Ship Charter Rates Plumb New Lows
Bruce Barnard Mar 20, 2009 2:27PM GMT The Journal of Commerce Online - News Story
Container Lines
Maritime
Carriers return hire vessels amid tumbling cargo volumes
London --
Container ship charter rates have plumbed new lows as ocean carriers trim their fleets and press ship owners for deeper discounts amid slowing cargo volumes and sagging freight rates on most liner trade routes.
Carriers are returning record numbers of ships to their owners as they come off hire rather than renew charters even at current depressed rates, with many of the vessels joining a growing pool of laid-up tonnage.
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http://www.stocktradersdaily.com/News%20Release/News_release_TA_000020009000624fishcrude.htm
With Demand for Crude Declining, Oil Tankers are Sinking:
NAT, SEA, FRO, USO
June 24, 2009
By: Jonathan Yates Contributor, Stock Traders Daily (La Jolla, CA)
In a precursor of troubled waters ahead for the shipping industry, Frontline Ltd, the world’s largest operator of supertankers, recently cancelled orders for two supertankers and four supermaxes, a total value of $556 million.
The chairman of Frontline, Jens Martin Jensen, predicted that moves by other shippers will “emerge in the next weeks” that could result in as much as one-third of all orders for new oil tankers being cancelled or delayed due to the slacking global thirst for crude.
The stock price of Frontline Ltd (NYSE: FRO) has fallen from a high of $72.36 in the past year to $24.32.
As a result of the slack in demand, the rental price for a supertanker, based on shipping rates from Saudi Arabia to Japan, is now so low that many are being used for storage. There are now about 60 supertankers only holding oil, a one-third increase since April of this year.