testata inforMARE
Cerca
18 May 2024 - Year XXVIII
Independent journal on economy and transport policy
22:26 GMT+2
LinnkedInTwitterFacebook
FORUM of Shipping
and Logistics


 

The dry bulk market in 2001

Has the announced crisis happened?

 
While the year 2000 was a colour print, 2001 was the negative. We should not however be surprised. The low prices for newbuildings, offered throughout 1999 and even in 2000 by Far Eastern shipyards led to a plethora of orders. Deliveries in the course of the year reached record levels of 6.6 million dwt for the Handysize (158 ships), 8.6 million dwt for the Panamax (116 ships), and 5.8 million dwt for the Capesize (34 ships), whilst at the same time the demolition figure was only 8.6 million dwt for all sizes.

bulk fleet

The freights
Already towards the end of 2000 a slowdown could be felt, the Baltic Dry Index closing at 1,600 points, below its maximum of 1,760 points reached in November, and expectations were clearly bearish. However against all likelihood, the market held up with mixed fortunes until the end of May when the number of ships delivered started to weigh heavily. Exports of Australian coal continued at a sustained rate to an extent that they were able to absorb in the initial months the deliveries of new Panamaxes.
 

Capesize freight rates

Panamax freight rates

time charter rates

Demand
China started playing a more and more active role in this sector, overtaking South Africa in second place as largest coal exporter in the world. In the month of March alone, China exported nearly 10 million tons of coal. On the other hand, right from the start of the year, the demand of iron ore was in decline as compared to 2000 figures.

Although the Chapter 11 bankruptcy filing of a number of American steel companies of which Bethlehem Steel is the most noteworthy had a relatively small impact on the volume of ore transported by sea, the world economic environment dictates the rules for steel operators. According to the International Iron and Steel Institute, American production in 2001 has dropped back by 10.9 % as compared to 2000. Production in the E.U. was down by 2.7 % and the two heavyweights - France and Germany- were respectively down by 7.7 % and 3.4 %. At the same time India saw its production rise by 1.4 % and Japan's dropped by 3.4 %, but Asia registered a combined production of 332 million tons namely 4.0 % higher as compared to 2000. Once again China showed itself to be a major player with production reaching 141 million tons.

In 2001 world crude steel production totalled 823.9 million tons against 829.6 in 2000. Given the uncertainties in the international scene, the result is remarkable.

In the light of these figures one is tempted to conclude maybe a little hastily that the fall in freight rates was the result of an excess of tonnage on offer. This impression needs to be tempered somewhat. One of the highlights of this year was the merger, after that of British Steel and Hoogovens in 1999, of Usinor, Aceralia and Arbed to give birth to the number one steel company in the world with a production capacity of 45 million tons. Other steel companies are following as a merger between NKK and Kawasaki has been announced.

Whilst awaiting the outcome of the big merger, as well as doubts about the world demand, an important volume of contractual cargoes was not covered. Elsewhere the necessary adjustments to production and stocks were done at the last minute, on a step by step basis as the American economy slipped into recession, as Japan went deeper into its stagnation, and with the slowing-down of activity in Germany.

Finally, suffering from a double monetary constraint and the high freight rates of 2000, Japan and more especially China relocated their ore supplies from Australia at the expense of Brazil, thus reducing the volume in tonnes-miles transported. This situation prevailed right throughout 2001.

Elsewhere world demand for coal, despite rising regularly, has also seen some changes. As for ore, the Asian economies switched increasingly to Australian or Chinese coal, at the expense of South Africa and America. To illustrate this, in the first nine months of 2001 South Africa exported 5.9 million tons towards Asia as compared to 11.8 million tons for the same period in 2000.

Steel companies have not been the only ones to merge. The Australian mining company BHP and the South African Billiton have created one of the biggest world groups. In the cement industry the merger between Lafarge and Blue Circle has created the biggest world force in this sector with a production of 14 million tons. The German Heidelberg Cement with its purchase of Scancem are close on their heels. Grain companies got into the act with the purchase of the American Continental Grain by its compatriot Cargill in 1998. There are others who have been left aside in this consolidation as can be witnessed by the bankruptcy of the Swiss Andr'.

This process could not leave the shipowners totally indifferent. Their response came quickly as already in November 2001 the English ABC-Zodiac (ABC being already the product of a merger between P&O/Shougang) and the Belgian Bocimar announced their union, giving rise to the largest world Capesize owner with 80 ships (bearing in mind that the total Capesize fleet is 656 ships). The creation of very large Panamax or Handymax owners has not yet occurred, but it is true that these markets are much more dispersed.

We are therefore seeing a globalisation of the market with a small number of players but with increased influence. At the same time freight has become a commodity like others that one can buy and sell spot and term, giving birth to a new type of operator specialised in Capesize and/or Panamax in certain geographical zones or trades, such as SwissMarine or Enron (whose bankruptcy is only a blip in this evolution). The recent period when a contract was wide open, now seems something of the past. Nowadays for each charter, a dozen owners at least (luckily not always the same) propose variations of a theme. In this respect the growth in the market for buying and selling freight 'futures', provides a host of possibilities for hedging or making other alternative complex coverings.

The nearly instantaneous knowledge of ship's positions, the rapid circulation and the abundance of information paradoxically can complicate getting to the basic essentials. In order to remain in the game, it is now more than ever crucial to be part of the initiated few.

It is true that after an euphoric 2000, 2001 pales in comparison and the facts are there to back this up. However the rationalisation of the market, which began several years ago, has quickly accelerated and only a more positive economic situation will lead to improved freight markets.

The strong players of the future are formed in these times of crisis. Abundant, complex information requires specialists and also favours the development of new tools for its analysis and interpretation, and only the best armed will be able to survive.
 

Bulk - Lake Maine Lake Maine
53,500 dwt, grab-fitted blt 2001by Imabari Shipbuilding, owned by Daio Kaiun Ltd (Japan) and on long time charter to Louis Dreyfus Armateurs (France)
The second-hand market
The Capesize second-hand market (80,000 dwt and over)
Last year we concluded our analysis by stating that it would be necessary to be prudent in 2001. In practice during the first quarter, the second-hand Capesize market continued to follow its downward trend already begun at the end of 2000.

Values then flattened out between March and April. They rose strongly up to the end of June when they literally collapsed until September, before steadying out at a level well below last year's. One only needs to look at the fluctuations in freight rates to find the reasons for these dramatic variations in prices.

As always the oldest ships were the most affected, whereas modern units tend to gain less in rising periods and lose less in falling ones.

There were some 26 sales for further trading (comprising 16 ships delivered from 1990 to 2001 and 10 built between 1981 and 1989.) Eight ships built between 1969 and 1978 were demolished this year amounting to 1,043,000 dwt, whilst 34 ships were delivered totalling 5,769,000 dwt.

For a fully classified ship and in good condition, the following values were applicable:

January 2001 December 2001
150,000 dwt built in 1995 about $26 / 27 m about $18 / 19 m
150,000 dwt built in 1990 about $19.5 / 20 m about $14 / 14.5 m

The consolidation in the market, reinforced by the setting up of the Cape International pool, does not prevent some strong crosswinds from blow-ing. Even if at year's end it seems to be calmer with a slight rise in the freight rates, the tendency for ship's values are declining as there are big uncertainties within the world's economies.

Construction prices should not rise next year which will have a direct repercussion on values of the most recent ships. In a poor market, it is always preferable to renew one's fleet by a newbuilding rather than by acquiring a modern second-hand ship with immediate availability.

The drop in the yen if it continues its path pursued at the end of the year, should incite Japanese sellers to be more flexible on asking prices for their ships financed locally. Values expressed in dollars should therefore suffer.

It will take a real and solid recovery in freight rates together with a renewed revival in growth prospects for second-hand values to be able to move up substantially. If the hopes are less muted at the end of the year, the reality remains stubbornly subdued even if in a thin market like the Capesize, changes in situations can sometimes be quicker than expected.

A glimmer of hope lies in the current modest orderbook. It represents about 9.3 % of the existing fleet. In 2002 only 25 ships should be delivered by shipbuilding yards for a total capacity of 4.2 million dwt.

The Panamax, Handymax & Handysize second-hand market
At the end of last year, we concluded our review for this segment of the sale & purchase bulk carrier market saying that players in the shipping industry could be "cautiously optimistic" for the near future only if an accelerated demolition activity is re-established coupled with positive industrial production and world trade figures, as this could be the only counter-balance to the massive number of deliveries both in the Panamax and Handymax segments. Let us look at what happened.

While deliveries took place, demolition was very slow to follow. The world economy did not continue with the same vigour, to say the least, Japan still cannot get out of its decade long recession, Far Eastern economies again walking a tightrope, the European Union slowing down and we now have an U.S. economy officially declared as being in recession since March this year, resulting in decreasing industrial production figures.

The effect of all the above was, as expected, a severe downward pressure on freight rates which, as one would anticipate, put ship values under pressure. Values softened across the board for all types and age segments of the dry bulk carrier market.

The youngest units too, experienced similar downward pressure on their values as the yards started to look for new business and were expected to become more aggressive, trying to secure new orders by offering attractive prices and terms.

All this was already happening when terrorists struck the U.S.A. on September 11th.

The uncertainty and speculation of what the future may bring, has become the number one preoccupation in everybody's mind which, in the shipping industry just as with every economic activity, translates itself into "inaction, do nothing, wait and see".

As one would anticipate, the above mentioned factors had a negative effect in the second-hand sale and purchase activity resulting in a lower number of successful transactions in all sizes. The number of reported sales during 2001, when compared to those for 2000, yield the following:

  • 26 % less Panamax sales (40 vessels in 2001 against 54 during 2000)
  • 31 % less Handymax sales (48 vessels in 2001 against 70 during 2000)
  • 23 % less Handy sales (77 vessels against 100 during 2000)

The Greek shipping community still had a leading role amongst buyers this year, although the number of reported bulk carrier sales to Greek buyers was half (59 ships) the one recorded in 2000 (120) and about one third of 1999's figure (158). The much publicised listing of shipowning companies on the Athens Stock Exchange did not happen this year although we understand that the legislation is in place. It may take a while before any company attempts such a listing and definitely not in an exchange, which after having gone through "a very drastic correction" has also been suffering from a long "bear" period.

Chinese buyers made their presence felt this year, by doubling the number of ships purchased, 19 ships as opposed to only nine during 2000. Similarly Norwegian buyers were reported to have purchased 17 vessels versus only seven in 2000.

As 2001 is drawing to an end, second-hand dry bulk carrier values continue their downward trend at a slower pace and many feel that we may be very near the bottom of this cycle. The result is an increase in the willingness of prospective buyers to inspect vessels, that are being offered for sale, even if most are of the opinion that prices may drop somewhat further before they pick up again. An apt example of this is the number of interested parties, 16, who inspected in Argentina (not on the Continent) earlier in December 2001 the 'Panagiotis A', a 1995-built 71,500 dwt Panamax bulker. She has been reported sold to Greek buyers, Angelicoussis, for a price in the region of $13.4 million. This is $100,000 more than the reported price for which the 'Maratha Memory', a 1997-built 72,000 dwt vessel, was sold only a week earlier! Is this a "blip"? Could it be the proof that we have indeed reached the bottom? Or, is it just because competition was fierce and not seen since 1999? We do believe that it is a mixture of all the above.

The Japanese yen has weakened further this year and at the end of 2001 has reached a three year low ($1 = yen127) if this trend continues, and according to exchange rate specialists, it may well do so considering the dire state of the Japanese economy, there may be a greater number of vessels being offered for sale from Japanese shipping companies. This together with the fact that prices will be considered as very near the bottom may well "kick start" second-hand sale & purchase activity.

Second-hand sale and purchase activity picks up as soon as there are healthy signs in the freight markets, but apart from world economy, international trade etc. the criterion of supply and demand is forever present in shipping.
 

The Panamax and Handymax scheduled deliveries for 2002 are at much lower levels (about 9 % and about 11 % of the active fleet respectively) than 12 months ago and the figures for Handysize scheduled deliveries remains very low (about 4 % of the active fleet).

Demolition this year picked up significantly and in terms of dwt removed from the market we note:

  • Panamax: about 2.2 million dwt were removed this year, 33 ships, representing an increase of about 400 % over the figures for 2000. However, this is only about 3.3 % of the active fleet.
  • Handymax: about 1.07 million dwt were removed this year, 25 ships, which is about the same figure as for 2000, i.e. no significant change. This is only about 2 % of the active fleet.
  • Handysize: about 2.5 million dwt were removed this year, 90 ships, which represents an increase of about 32 % over the 2000 figures. This is only about 3 % of the active fleet, but the scheduled deliveries for this size of vessels are only about 4 % of the fleet'

Panamax (55,000 to 75,000 dwt)

A total of 40 ships were reported sold during 2001 and some points worth noting are:

  • 52.5 % (21 vessels) built in the 90's of which eight were constructed after 1995.
  • 42.5 % (17) built in the 80's of which two were built in 1988-1989 the rest prior to 1985.
  • Only two vessels sold in 2001 were built in the 70's representing only 5 % of the sales.
  • More than half (24 vessels) involved en-bloc purchases ranging from two ships up to five or six vessels.
  • Some vessels had been reported "sold on subjects" several times during the course of the year, but had subsequently not been lifted and their owners re-marketed them until an eventual firm sale. This was true for younger ships as well as ships over 15 years old.
  • We noted several en-bloc sales of modern ships (less than five years old) involving long period time charter or bare boat back arrangements with sellers. This would appear to be the only way possible for a ship to be sold, in the view of the uncertainties of the freight markets, large orderbook, etc. One example is the sale of the 'Far Eastern Progress' and the 'Far Eastern Auspice' both of 72,000 dwt and 1996-built, at $15.6 million including a 10 year bare boat charter back to sellers, another one including a long period time charter back is that of 'Pacemperor' and 'Pacmonarch', both 74,000 dwt and 2000-built, sold for $22.0 / 23.0 million including a 12 year time charter back.
  • Transactions whereby owners were selling their entire Panamax fleet, some included long period employment and others were straight sales. The sale of the Lasco controlled Panamax fleet involved five vessels of which two were built in 1990 and three in 1994, the en bloc transaction included a 10 year bare boat charter back to the sellers and a purchase option. The en bloc charter-free sale of the Docenave Panamax fleet to Elcano of Spain, involved five vessels all 20 years old.
  • Some deals whereby the buyer would take a fairly modern vessel on bare boat charter with purchase options at predetermined prices during the course of the period and a purchase obligation at an agreed price at the end of the period: the 'Aspen', 'Hawthorn', 'Capella' and 'Polaris' all 1997-built and of 73,000 dwt were sold in pairs to two different buyers, but with the same reported structure, where the buyer takes the vessel on bare boat charter for five years at $5,250 per day with purchase option at the end of years three and four for $12.0 and 11.0 million respectively and a purchase obligation at the end of year five at $9.8 million.
  • The sale to Actinor Shipping of Norway of the 'Northern Venture' and 'Xinshi Hai' both 1995-built and of 68 000 dwt, for $15.0 million including a 12 year bare boat charter to Cosco and the en bloc sale of the A.P. Moller controlled 'Maersk Taikung', 'Maersk Tanjong' and 'Maersk Tukang' to Spar Shipping of Norway at $13.25 million each including a three year time charter back to the sellers including optional periods are also worth noting.

At the end of 2001 the value of a 10 year old Panamax bulk carrier stands at about $9.0 million, about 20 % less than what it was 12 months ago, whereas a 5 year old vessel of this size is worth about $13.0 / 13.5 million, about 16 / 17 % less than what it was valued at $16.0 / 16.2 million, in December 2000. In short, values have diminished back to their 1999 levels, if not somewhat lower.

Having said this, the reported sale at the end of December of the 'Panagiotis A' (mentioned earlier) would seem to indicate that values are no longer as low as mentioned just above, but this is only one sale. On the other hand, it takes very little (just one sale might prove to be enough') to change buyers' sentiment into deciding whether "the market has reached the bottom and that now is the time to buy", this could lead to a stampede, like the one experienced in the spring of 1999' To avoid this, our advice "in good faith but without guarantee" would be, if you are potential Panamax bulk carrier buyers, to buy now rather than later.
 

Among a total of 48 ships were reported sold during 2001:

  • 23 % (11 vessels) built in the 90's of which one was built in 1990 and the rest after 1994.
  • 54 % (26) built in the 80's of which 10 after 1985.
  • 23 % (11) built in the 70's.
  • As opposed to the Panamax sales, few en bloc deals were reported and even fewer involved long period charter back arrangements to the sellers.
  • Chinese buyers made their presence felt by inspecting and offering on 80's built ships calling to China.
  • This is the size of vessel that the former principal of Golden Ocean (the VLCC shipping company that was taken over by Frontline) chose to make his comeback in shipowning by purchasing the 'Bara', a 1998-built 42,000 dwt unit, from Louis Dreyfus Armateurs, for a reported price of $14.5 million including a four year time charter back to the sellers.

The value of a 10 year old Handymax bulk carrier 12 months ago was about $ 11.5 million, whereas at the end of 2001 it is estimated at about $8.75 / 9.0 million representing a 20 % drop in value, a five year old vessel of this size currently stands at about $12.5 million, about 19 % less than what it was worth ($15.5 million) in December 2000.

Our feeling is that for this size of ship we are very close to the bottom, however there have not been any recent end-of-the-year sales to indicate a reversal of this downward trend, but this may be just around the corner. So if one is considering investing in a Handymax bulk carrier, one should actively be inspecting such vessels in order to be ready to "move" once one feels "the time is right". It will not be too long'
 

A total of 77 vessels were reported sold during 2001:

  • 34 % (26 vessels) built in the 70's of which four were built prior to 1976.
  • 53 % (41) built in the 80's of which 18 units were built after 1985.
  • 13 % (10) built in the 90's, of which half were built in the second half of the decade.
  • Two of the 90's built ships sold, involved charterers exercising purchase options.
  • Very few en bloc deals were reported during 2001.
  • Far Eastern buyers proved to be more active during 2001 than in previous years, Greek buyers too were quite active and these two nationalities were reportedly involved in about 60 % of the total number of sales.

At the end of 2001 we estimate the value of a five year old Handysize bulk carrier at about $10.5 million, whereas 12 months earlier the same type of vessel was worth about $11.75 / 12.0 million. A 10 year old ship in December 2001 is estimated to be worth in the region of $7.0 / 7.25 million, whereas in December 2000 her value was closer to $8.25 / 8.5 million. The drop in value for the five and ten year old categories is about 10.6 % and 12 % respectively. It would seem that the drop was greatly decelerated due to the weak orderbook in this size. Again, the feeling is that values may have reached a bottom'

* * *

Concluding this year's review of the second hand bulk carrier market, the majority of the Panamax and Handymax deliveries is behind us and prices are at levels similar to those of early 1999. The world economy is experiencing a recession after many years of expansion, but economists are forecasting a recovery in the second half of 2002. The reasons evoked for this recovery include the level of interest rates, which are at record lows, generous financial stimulus in the U.S. (tax cuts, emergency spending following the 11th September attacks') amounting to about $375 billion and lower oil prices. The recovery may come more rapidly if all the above has a stronger impact. Confidence and sentiment will revive faster than expected.

Next year, we shall look back at what actually happened during 2002, but for the time being we are of the opinion that values have or are about to "bottom out" and therefore any investment in these sizes of bulk carriers should be undertaken sooner rather than later.
 

Bulk - Santa Christina Santa Christina 
25,378 dwt, blt 1996 by Imabari Shipbuilding, owned by Nissho Shipping (Tokyo) and on long time charter to Le Nickel SLN (Noum'a) Eramet Group


Shipping and Shipbuilding Markets in 2001

I N D E X

›››File
FROM THE HOME PAGE
In the first three months of 2024, CMA CGM's revenue fell -7.0% percent.
In the first three months of 2024, CMA CGM's revenue fell -7.0% percent.
Marseille
Decline of -11.3 per cent of the shipping business volume alone
In 2023 combined transport shipments to Europe decreased by -10.6%
Brussels
Numerous the causes of the disappointing annual performance highlighted by UIRR associates
Last month the container traffic in the port of Valencia amounted to 457mila teu (+ 14.2%)
Valencia
In the first four months of this year, the total was 1.7 million teu (+ 12.8%)
New US duties on imports from China that also affect ship-to-shore cranes
Washington / Beijing
Protest by the association of the Chinese steel industry
In the port of Hamburg it keeps containerized traffic as they drop the bulk
Hamburg
In the first three months of 2024, the German climber handled 27.4 million tonnes of cargo (-3.3%).
SEA Europe and industriAll Europe solicit an EU strategy for the European shipbuilding industry
Brussels
Among the demands, the introduction of the "Made in Europe" requirement in public procurement
Logistics associations urge operators to be ready at the third stage of ICS2
Brussels
Concerns about important goods in the European Union by sea
Marco Verzari is the new secretary general of Uiltransport
Rome
Undergoes to the demissary Tarlazzi
Switzerland increases investment for the exercise and renewal of the rail network
Bern
Expected investment contributions in favour of private facilities
Locomotives powered by Ultimo Miglio of Mercitalia Logistics in service to Gioia Tauro
Joy Tauro
Used to transport cars from Campania to the Calabrian port
The terminalist company SSA Marine creates a division for cruises
In the first three months of 2024, container traffic in HHLA terminals increased by 3.4%
Hamburg
Stable revenues
The negative trend of the economic performance of Hapag-Lloyd continues.
The negative trend of the economic performance of Hapag-Lloyd continues.
Hamburg
In the first quarter of 2024, revenues fell by -24.2% percent. Noli down -32.0% and cargoes carried by the growing fleet of 6.9%
Brussels gives reason to Italy asking Austria to remove restrictions on road transport of goods to the Brenner
Rome / Vienna
The Tyrolese government announces that it is ready to fight before the EU Court of Justice
In the first quarter of 2024, shipping traffic in the Suez Canal collapsed by -42.9% percent.
In the first quarter of 2024, shipping traffic in the Suez Canal collapsed by -42.9% percent.
Ismailia
In March the reduction was -49.1%
In the first quarter of 2024, Evergreen's net profit rose +187,7 percent.
In the first quarter of 2024, Evergreen's net profit rose +187,7 percent.
Taipei
Investment of more than 65 million in the purchase of new containers
HMM returns to record growth of quarterly economic results
HMM returns to record growth of quarterly economic results
Seoul
In the first three months of 2024, revenues increased by 11.9% percent and net profit of 63.0% percent.
India invests in the development of the Iranian port of Shahid Behesthi (Chabahar)
Chabahar
Announced the next establishment of an indo-Iranian shipping company
Spinelli Srl renews the board of directors
Genoa
New appointments after the precautionary measures arranged by the gip of the Genoa court against Aldo and Roberto Spinelli
In the first three months of 2024, the traffic of goods in the port of Ravenna fell by -6.3%
In the first three months of 2024, the traffic of goods in the port of Ravenna fell by -6.3%
Ravenna
In March, a decline of -1.5%
In the first quarter of this year, the container traffic made in Trieste by TMT decreased by -20.3%
Trieste
In 2023, the traffic of short sea shipping between Spain and Italy fell by -5.2% percent.
Madrid
The motorways of the sea have risen to ten compared to seven in 2022
In the first quarter of 2024, the net profit of Yang Ming grew by +173,1 percent.
In the first quarter of 2024, the net profit of Yang Ming grew by +173,1 percent.
Keelung
The board has deliberated the purchase of new containers
Leonardo signs binding agreement for sale of Underwater Armaments & Systems to Fincantieri
Rome
Total transaction value of a maximum of 415 million euros
Uiltransport, well the amendment for workers of agencies for the port work of Gioia Tauro and Taranto
Rome
Provides for the extension of the allowance up to December
To develop its resilience the port of Livorno looks to the southern shore of the Mediterranean
Livorno
Next month an agreement with the Egyptian port of Damietta
Decarbonization of shipping could create up to four million jobs in the energy supply chain
Copenhagen
Study of the Getting to Zero Coalition
In the first three months of 2024 the traffic in goods in the port of Venice decreased by -9.8%
In the first three months of 2024 the traffic in goods in the port of Venice decreased by -9.8%
Venice
Growth of liquid bulk and rotatable bulk. Decline of solid bulk and containers
ISS-Tositti and intergroup have established the newco ISS-Tositti Agency
Venice
Synergistic fusion of the skills of both realities
Rasmussen (Bimco) : When the ships return to cross Suez shipping containerized shipping will have to reckon with an excess of stir
Copenhagen
Currently the impact of record deliveries of container carriers is absorbed by the additional capacity needed for the route around Africa
U.S. Intermarine enters the segment of the reins
Houston
Established the Intermarine Bulk Carriers that will manage the bulk carriers of the German group Harren
President of the Liguria Region, former president of West Liguria's AdSP, and entrepreneur Spinelli
Genoa
Among those achieved by the measures, the president of Ente Bacini
WWF, sustainable planning for the largest marine areas in the EU is fragmented and incomplete
WWF, sustainable planning for the largest marine areas in the EU is fragmented and incomplete
Brussels
The most discomforting scenario is that of the Mediterranean basin
In the first quarter the performance of combined transport in the EU kicked off
Brussels
Decrease in container traffic, strikes, work on infrastructure and weak economy among causes
Maersk warns that the expansion of the crisis area in the Middle East increases shipping costs
Copenhagen
Reported a 15 -20% reduction in capacity on the route from the Far East to the North Europe / Mediterranean
FS Logistics Pole orders Alstom 70 new locomotives with the option to buy more 30
Go Ligure
Commits from more than 323 million. Taking delivery to go Ligure a locomotive for freight transport
COSCO activates an e-commerce system to provide spare parts and services to the naval sector
Shanghai
Is aimed at domestic and foreign customers
Joint venture of Autamarocchi and Cosulich for logistics on rubber at the service of the steel industry
Genoa
Iran announces release of crew of container ship MSC Aries
Tehran
Foreign Minister confirms that seamen from the seized ship will be allowed to leave the country.
Merlo (Federlogistics) relaunches the alarm over the impact of the bridge over the Strait of Messina on naval traffic
Palermo
In the first three months of this year, maritime traffic in the Bosphorus Strait increased by 9.3%
In the first three months of this year, maritime traffic in the Bosphorus Strait increased by 9.3%
Ankara
Growth of transits of all major typologies of naviglio
In the first three months of 2024, cruise traffic in Global Ports Holding's terminals increased by 30% percent.
London
The consortium led by GPH has been selected as a preferential bidder for the Casablanca cruise terminal
In the first quarter of 2024, Maersk Group revenues fell by -13.0% percent.
In the first quarter of 2024, Maersk Group revenues fell by -13.0% percent.
Copenhagen
7.0% increase in the operating costs of containerized shipping
Ferretti inaugurates the renewed nautical construction site of La Spezia
The Spezia
The ligure establishment is dedicated to the production of the Riva yachts
Positive first quarter for Global Ship Lease
Athens
Revenue in growth of 12.7%
Launched by Interporto Padova the intermodal service of Trans Italy with the Interport of Livorno Guasticce
Padova
Initially it provides for two weekly circulations
Operating the new automated gate at Reefer Terminal of Going Ligure
Go Ligure
The drivers can carry out the loading and unloading activities without getting off the vehicle
Last month container traffic in the port of Hong Kong decreased by -10.2%
Hong Kong
In the first eventful four-year period 4.5 million teu (-4.7%)
DP World inaugurates new port infrastructure and logistics in Romania
Dubai
New terminals in the port of Costanza destined for cargo project and rotatable
In April, the growth of container traffic in the port of Long Beach continued.
Long Beach
In the first quarter of 2024, the increase was 15.8% percent.
Uniport Livorno buys three new port tractors
Helsinki
Kalmar will deliver them in the last quarter of 2024
They will rise from five to six the weekly rotations of the Melzo-Rotterdam service of Hannibal
Melzo
Increase in frequency as of June 10
In 2023, the revenues of Maritime stations increased by 18.5%
Genoa
Net profit to 1.7 million euros (+ 75.5%)
In the first three months of 2024, freight traffic in the port of Koper fell by -6.6% percent.
Lubiana
In March, the decline was -3.1% percent.
In April, freight traffic in the port of Singapore grew by 8.8%
Singapore
The containers were equal to 3.4 million teu (+ 3.8%)
Quarterly traffic of the growing containers for Eurogate and Contship Italia
Hamburg
In the first three months of 2024 the eventful volumes increased by 8.0% percent and 4.9% percent respectively.
Meyer Werft has delivered to Silversea the new luxury cruise ship Silver Ray
Papenburg / Vienna
It has a capacity of 728 passengers
In the first three months of 2024, new orders acquired by Fincantieri fell by -40.7% percent.
Rome
Stable the revenues
Call for tenders for the structural adjustment of a quay of the port of Ancona
Ancona
The amount of the contract is 16.5 million euros
Port operators in La Spezia call for a relaunch of the port
The Spezia
They solicit targeted and effective actions
In the first quarter of this year, the traffic of goods in Montenegrin ports grew by 1.8% percent
Podgorica
The flow to and from Italy has increased by 16.2%
GNV installs a system to ensure the stability of ships
Genoa
NAPA Stability, developed by Finnish NAPA, has been extended to ferries
Decided to drop -24.9% percent of goods in Croatian ports in the first quarter of this year
Decided to drop -24.9% percent of goods in Croatian ports in the first quarter of this year
Zagreb
The containers were equal to 92mila teu (-0.4%)
Vard will build two Commissioning Service Operation Vessel
Trieste
They are intended for a company in Taiwan
The new maritime station of the port of Termoli is running.
Termoles
In 2023 the Molisan climber handled more than 217mila passengers (+ 5%)
New line of CTN that links the ports of La Goulette, Livorno, Salerno and Rades
Genoa
Will be inaugurated on May 21
In the first three months of 2024 the revenues of Wan Hai Lines grew by 8.1%
Taipei
Net profit of approximately 143 million US dollars
The growth trend of Taiwanese Evergreen and Yang Ming is continuing.
Taipei / Keelung
In April, it increased by 42.4% percent and 35.3% percent, respectively.
Evergreen orders 10,000 new containers
Taipei
Committed 32.3 million to the Dong Fang International Container (Hong Kong)
Vard will build an Ocean Energy Construction Vessel for Island Offshore
Trieste
It will be delivered in the first quarter of 2027. Option for two more ships
SAILING LIST
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
Lombardy among the most virtuous regions in food transport
Milan
Over 50% of the controlled temperature vehicles are matriculated in classes 5 and 6
Positive quarterly economic performance by Wallenius Wilhelmsen
Lysaker / Oslo
Ad Emanuele Grimaldi on 5.12% of the capital of the Höegh Autoliners
In the first three months of 2024, container traffic in New York increased by 11.7%
New York
In March, growth was 22.1% percent
Inaugurated the road of connection with the new areas of the port of Piombino
Plunge
The infrastructure cost 10.1 million euros.
First quarter of the year hardship for Finnlines
Helsinki
Accentuated increase in operating costs
In 2023 the turnover of Fercam decreased by -6%
Bolzano
Established a company in Lithuania
ICTSI recorded record quarterly economic performance
Manila
In the first quarter of this year, the traffic of goods in Albanian ports increased by 3.4% percent
Tirana
Passengers decreased by -1.9%
Speeding up the times to make the port of the Spezia and its retroport the first ZFD
The Spezia
They ask for maritime agents, customs officers and freight forwarders
Air and passenger routing service in the ports of Olbia and Gulf Aranci
Cagliari
It will be managed by the Roman Italpol Fiduciary Services
Decision to drop -15.1% percent of goods in the port of Taranto in the first quarter
Taranto
The loads at the landing decreased by -21.0% and those at the embarkation of -8.7%
This year the national forum for rail freight transport Mercintrain will be held in Padua
Padova
It will take place within the scope of Green Logistics Expo
Inaugurated in Safaga, Egypt, a factory for the construction of tugboats
Safaga
Ten naval units will be carried out for Suez Canal Authority
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
Tomorrow in Livorno a conference on the history of the city port
Livorno
It will be talked about architecture, trade and politics between the XVI and the twentieth century
On April 11, the sixth edition of the "Italian Port Days" will begin.
Rome
Also this year the project has been divided into two sessions : the first in the spring and the second from September 20 to October 20
››› Meetings File
PRESS REVIEW
Chabahar Port: US says sanctions possible after India-Iran port deal
(BBC News)
Iran says MSC Aries vessel seized for 'violating maritime laws'
(Reuters)
››› Press Review File
FORUM of Shipping
and Logistics
Relazione del presidente Mario Mattioli
Roma, 27 ottobre 2023
››› File
New Italy-Libya-Egypt service of Tarros and Messina
The Spezia / Genoa
It will be inaugurated in mid-June and made with two ships
Tomorrow PSA Venice will open the Venetian terminal to the port community and the city
Venice
Hannibal plans to activate a rail link between Italy, Hungary and Romania
Melzo
Two weekly rotations will be inaugurated by the end of 2024.
Approved the 2023 consuntive budget of the Central Tirreno's AdSP
Naples
Annunziata : the coming years, fundamentals to finalise the European investment of the PNRR
Sensitive increase in the production and sale of CIMC dry boxes
Hong Kong
Chinese firm responds to growth in demand
Approved the consuntive budget 2023 of the AdSP of the South Tyrrhenic and Ionian
Joy Tauro
May 6 meeting at MIT on the future of the Gioia Tauro Port Agency
The 2023 budget of the East Ligure Sea AdSP shows a primary surplus of six million
The Spezia
In the year new investments of around 17 million euros
Cargotec's quarterly net profit to 81.2 million (+ 11.8%)
Helsinki
In the first three months of 2024, revenues fell by -1.7% percent.
The negative trend of the economic performance of the ONE continues, less marked.
The negative trend of the economic performance of the ONE continues, less marked.
Singapore
In the first three months of 2024 the goods in containers carried by the fleet increased by 15.6%
The Genovese Messina has taken delivery of the largest ship in its fleet
Genoa
The "Jolly Verde" is a 6,300-teu container ship
The inclusion of the Civitavecchia port in the Core network of the TEN-T network is final.
Cyvitavecchia
On Wednesday the OK of the European Parliament
In 2023 the goods transported by Rail Cargo Group decreased by -11%
Vienna
Revenue in decline of -1.8%
Sustained quarterly growth of new orders acquired by Wärtsilä
Helsinki
In the first three months of this year, the group's revenues fell by -9.8% percent.
DIS orders two more new tankers LR1
Luxamburgo
New commits at the Jiangsu New Yangzi Shipbuilding Co.
An MSC container ship targeted with missiles and drones in the Gulf of Aden
San'a ' /Portsmouth
No damage to the ship and crew
Approved the consuntive budget 2023 of the Central Adriatic AdSP
Ancona
In the first quarter of 2024 the orders of port means produced by Konecranes fell by -51.6%
Hyvinkää
Grimaldi has taken delivery of the multipurpose ro-ro Great Abidjan
Naples
It is the fourth of six class ships "G5"
Baltimore attributes to owner and operator of the ship Dali the blame for the collapse of the Key Bridge
Baltimore
They would have been established dysfunction to the power supply on board that would cause a blackout
Grimaldi and IMAT have renewed the five-year agreement for the training of crews
Castel Volturno
Focus on new technologies installed on board ships
The quarterly economic performance of DSV is still declining
Hedehusene
In the first quarter of this year, the value of net profit decreased by -27.2%
Approved the consuntive budget 2023 of the AdSP of the Sardinia Sea
Cagliari
An administration surplus of 530 million euros, of which more than 475 tied for works in progress
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio
No part may be reproduced without the express permission of the publisher
Search on inforMARE Presentation
Feed RSS Advertising spaces

inforMARE in Pdf
Mobile