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01 July 2025 - Year XXIX
Independent journal on economy and transport policy
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The containership market in 2005

2005 has been the best year ever seen for liner trades in modern times, with volumes outstripping ship capacity -at least until the autumn-, leading to consequent increases in box rates and amazing charter rates. The year has, however, ended on a softer note, attributable to the traditional winter lows and to the beginning of a massive delivery wave of giant ships.

Container shipping is indeed at a crossroads, as overconfident owners and operators have ordered a huge quantity of ships in 2003-2004, which are to pour onto the market during 2006 and 2007. The 2008 orderbook is also well filled. During the three years to come, the fleet will grow on average by 14 % p.a. in teu terms and 13 % p.a. deadweight terms.

Even more worrying is the huge gap in the growth of large ships when compared to that of smaller ones. The fleet of ships above 4,000 teu is to grow by 20 % per annum over the next three years, against only 9 % for ships under 4,000 teu (the gap will however decrease as large ships are usually ordered ahead of smaller ships, for comparable delivery dates). The most astonishing development will come from the VLCS (ships over 7,500 teu), with an inventory jumping from 86 to 232 units within the space of three years.

Consequently, many east-west ships of 3,000-4,000 teu are expected to migrate to north-south trades (a phenomenon which took off during the last weeks of 2005).

The resulting offer/demand imbalance will have to be credited to this supply growth, rather than a weakening in transportation demand, which is expected to remain strong.



2006 is thus expected to yield lower returns than 2005, as 1.3 million teu of newbuildings will push the existing cellular fleet of 8.2 million teu up by 16 % for this sole year. It will be the largest fleet increase since the 15 % growth logged in 1997.

Fall in fortunes

With such a fleet increase, it does not require a crystal ball to anticipate a fall in fortunes. The big questions are: is there a rate collapse awaiting around the corner? And if so, when will it happen?

Answering such questions is a challenge in this fast changing world, where the future transportation demand is so delicate to forecast. What is for sure is that the fall in rates observed during the last quarter of 2005 has generated a gloom, although it appears to be a psychological one. After all, charter rates still remain above the previous record highs of 2000, and box rates remain at remunerative levels.

Once the next peak season opens, around May-June, there may well be a revival. During this period, which lasts until October, a lot of goods -including toys- are imported in the perspective of the Christmas and New Year period of high consumption. This phenomenon is particularly prevalent on the Asia-US trade, and last year it appeared to have affected Asia-Europe cargoes as well.

It is a paradox, but large ships available for charter will remain in short supply for most of 2006 (because operators have anticipated their needs by securing tonnage well in advance). So, in the case of a bullish peak season, the extra demand could push rates up again temporarily. But they are not expected to reach the mid-2005 levels.

The big worry is for the end of the 2006 peak season, in September-October. The market will then feel the full impact of the newbuildings delivery wave as the demand plunges to its seasonal lows. If a rate collapse is to happen, it will be in this period.



October 2006 could thus be a black month in container shipping memories. A collapse in rates could come at a period when some 120,000 teu of new ships come on stream every month, mainly big ships. And prospects of massive demolitions are poor (see insert).

And then newbuildings will continue to amass in 2007, without much hope for further significant scrapping, given the age profile of the cellular fleet. A big question mark is: will the market grow sufficiently in 2007 to scoop up all the new leviathans?

Expectations of a 7 % growth in trade in 2006 and -hopefully- in 2007 (a perilous assumption) will help at least to dampen the container market downturn and would allow operators and owners to bridge the gap until 2008, when the delivery rate of new ships would slow down; provided of course that orders cease to flow, which is yet another perilous assumption.

Demolition prospects

No cellular ships were scrapped in 2005. Even if non cellular ships are included, only one 609 teu container-friendly ship went to the scrapyard, and that was because of a damaged engine. The only other ships with some teu capacity that were broken up were a half dozen of aged cargo vessels which did not, however, interfere with container trades. The year has seen the recommissioning of a 1,113 teu ship, which had been sold for scrap in 2002 after having been gutted by fire. So, in one sense, the scrapping statistics were negative!

As oldies do continue trading, the potential for scrapping increases as months pass, with expectations that a lot of ships will suddenly join the scrapyard when the next recession bites on. It is thus interesting to compare the age profile of the fleet with newbuilding deliveries. Containerships are usually scrapped at an average age of 27 years. With this figure in mind, there is a potential to scrap 333 ships for 350,000 teu before 31 December 2007, and a further 43 ships for 46,000 teu during the year 2008.

Even if all these ships were broken up by then, the capacity removed would correspond to 10 % of the newbuilding deliveries (i.e. 400,000 teu removed against 4 million teu of expected entries during the three year period 1/1/2006 to 1/1/2009).

Decisions to scrap ships are strongly linked to gain expectations. In a context of high box and high charter rates on a background of ship shortage, it is worth spending money on older ships when comparing the cost of charters for replacement ships. Taking a 3,000 teu ship as an example, a replacement ship chartered for three years at $ 30,000 a day would cost a minimum of $ 7 million per year above operational costs, compared with a well amortised veteran.

For a 27 year old ship, it is worth spending $ 7 million on steel renewal, class extension work and routine repairs, in order to stretch its commercial life to 30 years. In this case, it would lead to savings of up to $ 14 million. Given this, no containerships, big or small, are expected to join the scrapyards in bullish periods. It may soon change.


The Box as a magnet?

As box rates fall, together with the filling ratio of ships, more non-containerised cargoes could end in boxes (mainly agriproducts, forest products and metallurgical products).

How much of it could end in containers is difficult to assess, as such cargoes can swing from Handysize bulk carriers to boxships and vice versa depending on bulk rates as well as box rates. Also, for these cargoes, rates are not the only parameter, with logistical constraints on the inland side and established commercial practices playing their parts too, not to mention shippers engaged in long term contracts with bulkship owners.

So, container carriers will remain mostly dependent on the world economic health. Trade is expected to remain sustained. The IMF puts the trade growth at +7.4 % for 2006 (including goods and services), against 7.0 % in 2005, which was itself down from 10.3 % in feverish 2004.

The fundamentals remain good, as China, Southeast Asia and India continue to export massively, with the USA and Europe at the receiving end. The drawback is, that this bi-polar pattern results in heavy imbalances with which carriers have to live, as this issue -implying the repositioning of huge quantities of empty boxes- will continue to affect their bottom line for many years to come.

And there are some reasons to remain optimistic. China seems quite sure that its growth will remain sustained at 8 % p.a. for at least a decade, with its coastal regions enjoying the fruits of growth (and hence heavier consumption), while western China starts to emerge with a vast pool of cheap manpower and low overheads.

This optimism is counter-balanced by pessimistic views on the US deficit and energy prices. There are fears that the growth in US consumption could be thwarted by the growing deficit and steeper rises in interest rates, leading to a downturn in house buying and a spending change in consumer behaviour.

As for energy, a surge in oil prices could not only lead to a slower economic growth, it would also have an impact on the carriers. Bunkers now account for half the total daily expenses for large ships running at 24-25 knots, and this already huge share would increase further.

For shippers, high oil prices mean that high BAFs (bunker adjustment factors) are here to stay. But more pain could be around the corner, with a looming clash between Iran and the West over nuclear matters, Iraqi uncertainties, and Venezuelan politics. The development of a crisis situation would send the price of the barrel soaring to $ 100 or more, thus seriously denting the carriers profits, provided they manage to raise a profit at all, given the impact of bunker rates within vessel operating costs.

Everyone would suffer as a result, and operating ships at a slower speed could be considered, although it remains to be seen if the fuel savings from slowdown programs could match the total savings raised from simply putting a few ships into lay up and keeping others sailing at nominal speed.

Actually, slowing down is not as straightforward a solution for containerships as it is for tankers or bulk carriers. Transit times are essential for a lot of containerised goods, and carriers which would test slowdown programs could lose cargo to competitors who maintain higher ship speeds.

Therefore, lay-up is a more likely option in case of oversupply. It has already been experienced during the October 2001-March 2002 depression. The idle capacity gathered up during the fourth quarter 2001 to reach 170,000 teu in January 2002, stagnating around this figure until April-May, when it plummeted down to 60,000 teu in the space of a few weeks, thanks to a market recovery and the approach of a promising transpacific peak season.

Mega mergers

2005 has also been a year rich in M&A activity, dominated by three large transactions with A.P. M'ller-Maersk buying P&O Nedlloyd, TUI (Hapag-Lloyd) buying CP Ships and CMA CGM swallowing Delmas.



A.P. M'ller-Maersk has reinforced its top position, with a fleet now reaching 1.65 million teu and a global market share of 18 %, almost twice the size of its nearest rival, MSC (785,000 teu. CMA CGM climbed to the third slot with a fleet of 508,000 teu. Hapag-Lloyd took the fifth position wit a fleet of 412,000 teu. The fourth position is held by Evergreen, with 478,000 teu (see graphs: TOP 25 and Evolution of market shares).

These deals occurred at the top of the market, and the targets have been far from cheap. It reflects the confidence of carriers for the future, and raises new challenges for those left behind.

The five largest carriers currently boost a 42 % market share, against 36 % at the beginning of 2005. This consolidation movement is to continue, with medium-sized carriers worrying about the role they could play in the future.

Maintaining a wide pallet of sailings to as many destinations as possible, while investing in very large ships in order to benefit from economies of scale are contradictory goals that only the largest mega carriers can achieve. This argues in favour of further M&A activity or in a widening of alliances.

It is in this context that the remaining partners of Grand Alliance (which loses P&O Nedlloyd) and of the slimmer New World Alliance have concluded an agreement allowing them to swap boxes between services. The drawback is that such an agreement is not flexible and the partners cannot reorganise rotations or adapt capacities at will.



The CKYH partners (COSCO, K Line, Yangming, Hanjin) have also confirmed the strengthening of their ties in order to maintain the quality of their services.

As for future M&A possibilities, they are rather limited, given the fact that many of the large carriers in the Top 30 lines are privately owned, and often family-controlled. Unless there is a will to sell, nothing is expected from their side (and they would even be more buyers than sellers).

Having said that, the next round of consolidation could well come from Japan, where a regrouping of the liner divisions of NYK, MOL and K Line would create the world second largest carrier, rivalling in size with MSC.

There have been numerous smaller deals and other corporate moves, which are summed up in the accompanying table.

Operators: transactions and significant moves in 2005

Straight sales & mergers

  • A.P. M'ller-Maersk (APM - parent of Maersk Sealand and Safmarine) (Denmark) purchased Royal P&O Nedlloyd (Netherlands) and its subsidiary P&O Nedlloyd Containers Ltd (UK).
  • TUI A.G. (parent of Hapag-Lloyd A.G.) (Germany) purchased CP Ships Ltd (Canada & UK).
  • CMA CGM (France) purchased Delmas (France) and its subsidiaries (OTAL and share in Setramar) from Bollor' Technologies.
  • CMA CGM (France) took over the whole of SudCargos (France).
  • Jindo Corp. (Korea - part of the Seven Mountain Group) purchased Dongnama Shipping Co Ltd) (Korea).
  • Mitsui-OSK Lines (MOL) bought the SAECS operations of P&O Nedlloyd from A.P. Moller-Maersk.
  • Wan Hai (Taiwan) took control of the whole of Interasia Line (Japan) through the purchase of the 43.75 % MOL stake.
  • Samskip (Iceland) purchased Geest North Sea Line (GNSL) (Netherlands).
  • Samskip (Iceland) purchased Seawheel Ltd (UK) from its management and merged it with Geest North Sea Line (GNSL).
  • Eimskip (Iceland) went under control of the Avion Group (an Icelandic holding specialising in services to the aviation industry).
  • Eimskip bought a 50 % stake in HAL Shipping Inc. (Halship), a company set up at Halifax in December 2004 to provide a feeder service linking Halifax to Portland and Boston.
  • DFDS A/S (Denmark) took control of the whole of Lys Line (Norway) through the purchase of the remaining 34 % of the shares from Simonsen Holding.
  • Grimaldi (Napoli) bought 11.61 % of shares and votes of Finnlines PLC (Finland).
  • D'hle (IOM) Ltd, part of the Peter D'hle Group, became the sole owner of Swan Container Line.
  • Magsaysay Lines Inc. (Philippines ' manager of NMC Container Lines) took over the management of Lorenzo Shipping Corp. (Philippines).
  • Norfolkline (Netherlands - a subsidiary of A.P. M'ller-Maersk) purchased Norse Merchant Ferries (UK).
  • Spliethoff (Netherlands) acquired the remaining 49 % of the shares in Transfennica Ltd (Finland) from UPM-Kymmene, M-real and Myllykoski Paper.
  • Rettig Group Ltd / Bore Line took control of Bror Husell Chartering Ltd and Rederi AB Engship (all Finland).


  • New operators of liner services

  • Yaiza Shipping, a division of Grupo Logistico JSV (Spain), launched its own service on Spain-Canary Islands.
  • Chrysobel Asia Line, a Singapore-based freight forwarder, launched its own service linking Jakarta, Singapore and Mumbai.
  • Saturn Container Lines (Pte) Ltd, a Singapore-based subsidiary of the India-controlled WW Group launched a service linking Singapore and Chennai in partnership with HubLine Bhd.
  • Soci't' Malgache de Transports Maritimes (SMTM - The Madagascar state-owned carrier) made a come back on the liner shipping scene with services linking Madagascar, Mauritius, Reunion and South Africa.
  • Gunes Container Line, Turkey, launched a service between Turkey and Libya.


  • Cessations of activity in liner shipping <

  • Mer Austral ceased its Indian Ocean Islands services.
  • Sarlis Container Services filed for bankruptcy.


  • Significant other moves

  • COSCO Holdings (parent of COSCON) (China) was listed on Hong Kong Stock Exchange.
  • STX Pan Ocean Ltd (Korea) was listed on the Singapore Stock Exchange.
  • Horizon Lines LLC (USA) was listed on the New York Stock Exchange.
  • TBS Shipping Ltd was listed on the New York Stock Exchange.
  • Seaspan (Canada) listed the newly formed Seaspan Corporation, created to own the containerships of Seaspan Container Lines Limited (SCLL), on the NY Stock Exchange.
  • Norwegian shipowner John Fredriksen bought Heung-A shares.
  • China Shipping Container Lines (CSCL) (China) increased its share in the Shanghai Puhai Shipping Co, Ltd (SPS) from 50 % to 90 %.
  • CP Ships Limited re-branded its container shipping services under the CP Ships name and has retired its seven operating brands.
  • The Malaysia International Shipping Co Berhad was renamed MISC Berhad.
  • Lloyd Triestino di Navigazione SpA (Evergreen Group) becomes Italia Marittima SpA (ITS).






  • The charter market

    Lessors of container tonnage have been at feast since the 2002 upturn. Charter rates have increased five fold between early 2002 and mid-2005 as ships went in short supply, but this bullish trend has now faded away.



    Rates have slipped since the peak of April-May 2005, and even literally plunged during November, before stabilising in mid-December. But they are still far from the abyss, as they are still above historical records.

    Interestingly, this plunge concerned ships chartered for periods of around 6 months while rates remained firm for longer periods of 12-24 months. It gave the strange feeling that, contrary to the good order, short term fixtures were commanding discounted rates against long term ones! In fact, it reflects the confidence of owners that the medium to long term demand will remain firm, whereas lower rates were accepted only to cover the winter gap. As a result, the market was very confused over the last weeks of 2005, with charter rates showing large discrepancies.



    Actually, the plunge was exacerbated by the traditional low which follows the peak transpacific season. Adding to the lower resulting demand is the fact that operators anticipated their needs by chartering ships well in advance, with most positions covered for the winter.

    On the contrary, the Europe-North America trade is enjoying -at last- a revival, triggering the shifting of larger ships there and even the launch of a new loop in November 2005 by MSC, while CMA CGM and CSCL plan to launch their own loop in March 2006.

    The softening in volume growth has also been translated in the carriers' figures. The growth in containers carried has slowed, while the pressure exerted on freight rates has had a negative impact on profits. Although still there, the growth in container volumes is not expected to be as sustained in 2006 as it has been in 2004-2005.

    Once past the Christmas-Chinese New Year festivities (say in March), if the world economy remains bullish, and 'if China and India exportations continue growing' even at a slower pace, the market could well remain tight for a few months, despite the large influx of newbuildings.

    Operators may need to charter additional tonnage ahead of the 2006 peak season. It is also at this time that things will start to settle after the big deals of 2005 (Maersk-PONL, CMA CGM-Delmas, Hapag-Lloyd-CP Ships), with a possible increase of chartering activity linked to service restructurings and enhancements.

    Indeed, the withdrawal of P&O Nedlloyd from a number of agreements is leading to loops splitting, resulting in more ships being needed.

    As far as the supply is concerned, it is interesting to note that there is not much unemployed tonnage left for 2006, compared to the overall fleet, as shown by the table 'Availability of ships for charter (comparison 12 months).

    More interesting still is to compare the availability today with the same data 12 months and 24 months ago, which has been summed up in the accompanying table. It shows that available ships of more than 3,000 teu are today as rare as they were two years ago, but remain above the low availability level reached 12 months ago. The big difference is that today it is on the downward slope.



    A more worrying figure concerns the 1,500-2,000 teu range where 25.7 % of ships this size come out of charter over the next 12 months, against 16.7 % one year ago.

    Conversely, an encouraging sign of future market tightness is the low ratio of tonnage on order still left unfixed. We found that some 80 % of the total capacity on order (4.5 millions teu) is assigned to operators (as owners or charterers). When broken down by year of delivery, we observe that 86 % of the capacity planned for delivery in 2006 is assigned, leaving only 14 % of the fleet still without employment, almost exclusively ships under 4,000 teu.

    This low rate of availability must however be weighted against the fact that large operators have anticipated their needs for 2006 well, and they may not be under much pressure to charter extra ships. This pool of 14 % of available newbuildings for 2006 totals only 180,000 teu, which could be quickly mopped up if there is a surge in demand during the next peak season.

    So, there are some positive signs among the fears that the market will slide next year, as there is more capacity coming on stream than the trade can absorb. And although the cellular fleet is to grow by 16 % in 2006 in teu terms, the figure stands just under 15 % in dwt terms, and the deadweight is probably a better yardstick to assess future imbalances.



    The fleet

    The cellular fleet will grow from 8.2 million teu in January 2006 to 12.3 million teu in January 2009, taking into account the existing orderbook without including demolitions.

    Assuming reasonable demolition volumes (see related insert) and a few more orders for 2008 deliveries, the cellular fleet in January 2009 is likely to stand at around 12 million teu, i.e. twice its level in mid-2003.

    Orders flowed into hungry shipyards from early 2003 to summer 2005, despite hefty price increases. This order wave came to an end in September 2005, when the rosy barometer took a plunge, with receding box rates on the east-west lanes and carriers issuing warnings of lower profits.

    All of a sudden, orders plummeted. Only 64 ships, totalling 120,000 teu, were ordered during the 4th quarter 2005, compared with 458 ships, totalling 1.5 million teu, during the first 9 months of the year, and a total of 3.8 million teu during the years 2003 and 2004. Despite this fall in the number of orders, the orderbook still made up 54 % of the existing fleet on the 1st January 2006, down from 60 % at its peak, in July 2005. Orders extend until end 2009 for large ships.

    This gap in orders will only have an impact on 2008-09 deliveries. In the meantime, the fleet is to grow at a fast pace. After the 16 % increase expected in 2006, it is expected to increase by 14.7 % during 2007 and 12.3 % during 2008. As there is still spare building capacity available for medium and small size ships for 2008 delivery, the latter figure could still be higher.

    The world liner fleet

    The world liner fleet will reach 10 million teu in September 2006

    The world liner fleet (see note) passed the 9 million teu mark in November 2005, for a total tonnage of 130 million dwt, according to BRS-Alphaliner data. The figure includes all types of ships effectively deployed on liner trades, in the common acceptance of the term (5,360 ships are involved). The cellular ships contribute to 90 % of this figure. The remaining 10 % is shared by non-celled container ships, multipurpose tonnage and ro-ro ships. We expect that the 10 million teu mark will be reached in September 2006.

    Previous and forecasted 'round' million teu capacities stand as follows:
    > 6 million teu (94 million dwt = > 15.67 tons per teu) in July 2001
    > 7 million teu (106 million dwt = > 15.14 tons per teu) in April 2003
    > 8 million teu (118 million dwt = > 14.75 tons per teu) in October 2004
    > 9 million teu (130 million dwt = > 14.44 tons per teu) in November 2005
    > 10 million teu (140 million dwt = > 14 tons per teu) in September 2006 (forecast)

    Time to reach the 'next' million teu
    > 6 million teu to 7 million teu in 21 months
    > 7 million teu to 8 million teu in 18 months
    > 8 million teu to 9 million teu in 13 months
    > 9 million teu to 10 million teu in 10 months (expected)

    Note: This count includes all the ships deployed on liner services in the common acceptance of the term. Given this common acceptance, we exclude a number of specific, more or less regular services such as the parcel trades (steel and other neo-bulk products), pure forest product trades or pure vehicle carrying services. Given this, the numerous multipurpose cargo vessels and conbulkers deployed on non-liner trades or on tramp trades are NOT included in the above figures (even if container fitted), although they are listed in the Alphaliner database for the sake of exhaustiveness.




    Ships of over 2,000 teu

    The charter market for ships of 4,000-5 000 teu has virtually disappeared in 2005, in the absence of available ships - at least for 12-24 months charters. The charter deals concluded concerned mainly newbuildings fixed for long term periods of 5 to 15 years, and such contracts have more to do with financial engineering than conventional market play.

    There are only 6 ships of 4,000-5,000 teu which will see their charters expire in 2006 (and free of optional periods), while only one newbuilding in this size range is left available.

    Rates for 2,500 teu ships have peaked at $39,000 in March-April, before falling to more reasonable levels of $25,000 in December.

    It is worth noting that the 2,500-3,000 teu size range is more exposed than neighbouring ranges, with 16 % of the capacity in this range coming on the market in 2006 (45 ships - charter expiry and newbuildings without charters). By comparison, it stands at only 11.5 % for the 2,000-2,500 teu range (36 ships) and 10 % for the 3,000-4,000 teu range (24 ships).

    Medium-sized units of 1,500-3,000 teu, which were employed as stopgap ships during the first three quarters of 2005 on services normally employing larger tonnage have since left to accommodate adequate tonnage.

    Ships of 1,500-2,000 teu

    Rates for 1,700 teu ships reached an astounding $ 32,000 in April for 12 months periods. Such rates were unthinkable two years ago. They have since fallen to half this level, but in January 2006 they still remained above the record $ 15,000 of the year 2000.

    The 1,500-2,000 teu range is a populous one, counting almost 450 ships, of which 290 are charter market ships. There are another 130 units on order for this size range only. Many of these ships are squeezed out from the north-south trades by larger units and many of them happily find other employments on intra Asia services (including South Asia). But should the market collapse, our feeling is that this range could suffer more than others, simply because there are not enough regional niches to accommodate them, while they are still too big to be flowing in large quantities onto feeder trades.

    Ships of 500-1,500 teu

    Smaller ships, under 1,500 teu, are doing well, and there is even a forthcoming shortage of ships of 900-1,200 teu (especially geared ones). The demand is high for this size range. Several regional services in Asia or along the west coast of the Americas have been launched, or are being launched, with such ships. Meanwhile, the demand for feeders of this size remains strong, especially in the Mediterranean, West Asia and Southeast Asia.

    In 2006, there could be even more pressure developing as ships of 900-1,200 teu could replace ships of 700-800 teu on services linking Northwest Europe to the Baltic and UK-Ireland.

    Besides, there is a fair amount of multipurpose (non-cellular) ships being used as pure containerships, which at other times are mostly used on non-container trades. This is especially true for the 1,300-1,400 teu range.

    For example, ten out of the eleven ships of the 'C-box' class (1,301 teu - built 1998-2000), are currently employed on container services (five of which by MSC). Half of the 15-strong CEC-controlled 'Confidence' type (650 teu - built 1997-2002) are more or less permanently employed on container services, although unlike the 'C-box', a few of them come and go, acting as extra ships often chartered for short periods or round trips.

    Even the rather old and slow 'OBC-25' ships (1,300-1,400 teu - built 1978-82) have made a comeback, with five of the 12 'OBC-25' in service currently used on container trades (a 13 th one was converted into an Orange Juice carrier). These ships had disappeared from the container scene in 2001-2002 and came back progressively in 2004-2005. This December, a 1,167 teu ship, de-celled six years ago, is making a come back on the container scene.

    With so many non-cellular ships drawn from tramp or parcel trades to be employed as full containerships, there is not much left to swing tonnage, and this helps to keep the market under pressure for 1,000-1,500 teu ships. It is not by chance that Delphis chartered three 1,118 teu newbuildings for 5 years at $ 12,500 in December 2005. Having said that, rates for 1,000 teu ships flirted with the $ 19,000 level in April-May, and fell to $11,000 at the end of the year.

    As for smaller modern ships of 500-700 teu, they continue to attract good rates, especially the geared ones. After years of flat rates, this size range at last saw a revival during the first months of 2004, reaching a climax in May-June 2005, with $ 11,000 for 12 months. Rates have since receded to around $ 8,000, but are still way above their early 2000s flats of $ 4,000-5,000.


    The containership second-hand market

    'The calm after the storm'

    The containership second-hand market began to contract as of March and April 2005, with a more pronounced reduction from the beginning of September. Prices stabilised at the end of the year at levels close to those achieved at the beginning of 2004.

    Already at the end of 2004 there were signs of weakening, particularly for ships of 1,000 to 1,500 teu. In addition, it is in this size category, that the biggest drop in prices was witnessed.

    Sale statistics for 2005 (for all sizes) show a net decline in activity, with the total transactions reported being 206 (cellular, non-cellular and ro-ro's) against 391 in 2004, including 145 cellular ships (with 33 ships under construction).

    The volume of ships purchased or long term charters signed up in 2004 was sufficient to cover most of the tonnage needs in 2005. No less than 60 ships, out of the 145 cellular containerships were sold to German investors, either with charters back, or with long t/c attached to the sale. These German investment funds, the KG's, made a show of strength this year by taking a predominant role in the purchase of containerships. They come in second place, after the Swiss operator MSC, which has been in the lead these past two years, with over 50 ships being purchased.

    With declining freight rates not inciting traditional buyers to invest, it was left to the fiscal operators being the only players to help uphold the second-hand market as well as they could. Uncertainties concerning the trade flow, bunker prices or even the exchange rates, have contributed to owners-operators' lack of optimism.

    Paradoxically, owners' asking prices remained very high compared to freight rates, which continued to drop as from the spring. This caused an important gap and a negative return on investment ratio in the short and medium term, making it even harder to carry out transactions. The situation was such, that at the end of the year neither traditional buyers, nor the German and Norwegian investment funds were in a position to conclude a deal. Only the biggest ships, of 2,500 teu or more, were able to emerge unscathed, given the few ships being offered and their popularity with the investors.

    The pursuit of economies of scale on the regular liner services justifies in the same way the relative price resistance for ships of 2,500-3,000 teu and over. Large ships seem to reassure investors, who consider them to be less exposed to the vagaries of the market.



    Amongst the main en-bloc sales we can list:

  • 4 ships of 9,700 teu, built by Daewoo, for delivery in 2008, sold by CMA CGM to Conti Rederei against a 15 year time charter at $48,000 per day.
  • The German group Schoeller sold 6 ships of 3,388 teu, which are being built in Germany, for delivery in December 2006, April, May, June 2007, February and April 2008 respectively to two different German buyers: NSC Schiffart (4 ships for $60 million each) and Thien & Heyenga (2 ships).
  • The same owner, Schoeller, sold 6 units of 2,742 teu, which are being built at Aker for delivery in March, April, June, August, September, and October 2006 respectively to 3 different buyers: Far Eastern Shipping (Russian), Salamon (German) and Zim (Israeli).
  • Evergreen (Taiwan) sold 3 units of 4,229 teu, built in 1993 by Onomichi, to Dainichi Invest for a price of $ 45 million each, backed by a 10 year charter.


  • Containerships less than 900 teu

    In this size category, the market has returned to its traditional habits for second-hand transactions. Last year, due to a scarcity in the larger and faster ships, owners had to fall back on the smaller and slower units, of which there are plenty in this category of the fleet. Under much less pressure this year, buyers were able to be far more selective. Only 11 ships with a speed of under 15 knots found buyers out of the 49 transactions registered in this sector. Even the non-cellular ships, of which the vast majority of existing units are relatively slow, followed the same pattern, with 24 ships having a speed under 15 knots being sold out of a total of 50 deals.

    On the other hand, the nationalities of buyers remain extremely varied. This year, again, the Far East is well represented in this category, as well as Greece, Italy and, of course, Germany.

    Values of these ships have suffered the most during the course of 2005, with a drop of around 30 to 35 % between January 1st and December 31st, depending on age and quality.

    Containerships from 900 to 2,000 teu

    There was far less activity compared to 2004, but with an average of one ship being sold per week, this sector remained the most active. The three buyers who enlivened this market in 2004, Zim, MSC, and CMA CGM were relatively quiet this year, with respectively 1, 2, and 3 ships being purchased in this category.

    The market's peak was achieved in March 2005, with the sale of two Flensburg-type resales 'Viking Hawk' and 'Viking Eagle', 1,740 teu, for delivery in 2005 by the Chinese shipyard Guangzhou Wenchong, to owner Seatankers (Fredriksen) for $49.5 million each!

    Another interesting sale took place in the summer, with three 1,155 teu, gearless, resales from the operator Kasif Kalkavan and of the improved Mark XI-type, built at Orskov, to MPC Capital (Germany) for a price close to $ 33 million per unit. These ships were nevertheless inspected by a large number of potential buyers during 8 to 9 months, without any takers able to find employment justifying such a price being found.

    In January 2005, Foresight sold two units of the BV1700 type, 'Pride of Mumbai' (geared), and 'Pride of Delhi' (gearless), built respectively in 1993 and 1994 in Germany, for a price of $ 31 million each to Marconsult (Germany). This price was justified by a 36 month charter, fixed at $ 23,700 per day with Hapag-Lloyd, being attached. It is interesting to note that a sister ship of these two, the 'Lina' was sold at the end of the year by Zim to Marconsult at a price of $ 24.5 million, against a charter for less than 30 months with Evergreen at a level of 'only' $ 19,750 per day.

    Containerships from 2,000 to 3,000 teu

    This market also faced a reduced number of transactions in 2005 compared to 2004, with 22 against 42 respectively, and no less than 14 sales of ships on order or under construction.

    The few ships on the market for sale explain the weak activity in this sector. It was not, however, the buyers that were in short supply. The confidence of operators was particularly felt in this size category, which, to a large extent, explains the relatively firm prices being proposed. In addition, the majority of ships had been financed thanks to the German KG system or by way of British tax-lease schemes, which prohibited their resale for several years. The owner Schoeller, already mentioned, stood out with the sale of 6 of its ships of the CS2700 type, all for delivery in 2006, at a unit price of $ 57 million.

    Half of the remaining sales were made up of 4 old ships belonging to MC Shipping, the 'Maersk Belawan', 'Maersk Brisbane','Maersk Bahrain' and 'Maersk Barcelona', 2,824 teu, built between 1975 and 1976, sold to KGAL (Germany) for $ 7.5 million each, including a 24 month time charter to Maersk Line, and some other less significant transactions.

    Containerships of over 3,000 teu

    Less than 20 ships over 3,000 teu changed hands in 2005, compared to nearly 60 the previous year. Except 5 ships, of which 2 units (4,334 teu and built in 2004) sold to Danaos, and 3 ships (of 4,229 teu and built in 1993) sold to Dainichi, the German KG's swallowed up all the other transactions.

    The entirety of these sales was confined to just 7 en-bloc deals! We can make the same comment as for the previous category, namely that the scarcity of transactions was due to the virtual absence of sellers'

    Conclusion

    A year which proved all in all to be fairly morose in terms of number of sales and a slackening trend which progressively developed throughout the whole year. The decline in market prices became noticeable as from the autumn of 2005. It is always difficult to give a definite view as to the evolution of the container market in the medium and long term, as the mini crisis at the end of 2003 is still fresh in one's mind and is witness to the speed at which the market can turn around.

    However, the forecast of slight weakening in Asian economic growth, the long list of ships to be delivered in 2006 (which has not really put a dampener on the continuing chase for orders) and the umpteenth hike in the price of bunkers gives cause for concern'

    Without actually falling into a deep pessimism, the market can begin to worry about the enthusiasm which potential buyers will demonstrate in the face of ships which will be coming off charter in 2006. The only containerships which will be still intensively pursued, will be those being committed for the next two to three years, and at a reasonable charter rate'

    Shipping and Shipbuilding Markets in 2005

    I N D E X

    ›››File
    FROM THE HOME PAGE
    European Commission meeting to define the strategy for the development of EU ports and maritime industry
    Brussels
    Call for papers by July 28th
    Assarmatori asks for support for Italian seafarers employed on short-haul routes and for the renewal of ferry fleets
    Assarmatori asks for support for Italian seafarers employed on short-haul routes and for the renewal of ferry fleets
    Rome
    Messina: State Aid regime needs to be redesigned for European shipyards
    In the first four months of 2025, maritime container traffic between Asia and Europe grew by +4.8%
    Tokyo
    -6.4% drop in shipments to Asian ports. +9.0% increase in unloading volumes in Europe
    The impact on Italy of a possible closure of the maritime route through the Strait of Hormuz would be significant
    Rome
    The merchant fleet for energy products controlled by the Italian shipping industry interested in these traffics amounts to approximately 80 units.
    Cargo traffic in China's seaports grew by +3.7% last month
    Cargo traffic in China's seaports grew by +3.7% last month
    Beijing
    Containers amounted to 26.7 million TEU (+6.1%)
    In 2024, 576 containers were lost at sea out of over 250 million transported by ships
    Washington
    About 200 have fallen from container ships in the Cape of Good Hope region
    FMC questions deal exempting World Shipping Council companies from US antitrust rules
    Washington
    Meanwhile, Sola, appointed by Trump on January 20 to the presidency of the federal agency, is leaving his post today.
    The European maritime-port sector nitpicks the reform of the Community customs rules
    Brussels
    Note from CLECAT, ECASBA, European Shipowners, ESPO, Feport and WSC
    EU Council agrees on reform of the Union Customs Code
    Brussels
    CLECAT is concerned about the persistence of the concept of "Single Liable Person" in the text
    In the first three months of 2025, freight traffic in the port of Civitavecchia grew by +2.4%
    Civitavecchia
    Increase of +9.9% in Gaeta and decrease of -17.1% in Fiumicino
    Le Aziende informanoSponsored Article
    Accelleron consolida le partnership con Somas e Geislinger per sostenere l'efficienza e la sostenibilità del settore marittimo
    Japanese shipbuilding company Imabari Shipbuilding acquires control of fellow Japanese JMU
    Imabari/Tokyo
    Ownership share increased from 30% to 60%
    WTO: New tariffs have given a boost to trade that is unlikely to last
    Geneva
    Recovery driven by importers who brought forward purchases in view of expected tariff increases
    Terminal Investments Limited of the MSC Group acquires 50% of the capital of Barcelona Europe South Terminal
    Barcelona
    The transaction was authorized by the Port Authority of Barcelona
    There are no implementing decrees for the SalvaMare law and Italian citizens are paying for the management of fished waste that is not carried out
    Rome
    The Marevivo Foundation and the Federation of the Sea report it
    In five and a half years, 1,244 tons of drugs have been seized in EU ports
    In five and a half years, 1,244 tons of drugs have been seized in EU ports
    Lisbon
    The largest quantities pass through ports in Belgium, Spain, Holland, Italy and Germany
    The International Convention on Ship Recycling will enter into force tomorrow
    Copenhagen
    BIMCO urges EU to include Indian shipyards in EU list of ship recycling facilities
    Assologistica presents the "Cruscotto" project to ensure transparency and legality in the logistics sector
    Milan
    Ruggerone: it is an infrastructure of trust between clients and operators
    Federagenti, cruises cannot and must not become the target of an indiscriminate hate campaign
    Federagenti, cruises cannot and must not become the target of an indiscriminate hate campaign
    Rome
    A "Pact for the Sea" proposed with solutions to tackle overtourism for which passenger ships are not to blame
    New step forward for the construction of the underground freight transport system in Switzerland
    New step forward for the construction of the underground freight transport system in Switzerland
    Bern
    Cargo sous terrain plans to build a 500-kilometer system by mid-century
    Carnival posts record earnings for March-May period
    Carnival posts record earnings for March-May period
    Miami
    The number of cruise passengers embarked also peaked this quarter
    Federlogistica, it is reckless to activate railway construction sites without a concerted plan
    Genoa
    Falteri: Isolating the port of Genoa from the railway network for three weeks means putting the whole of Northern Italy in difficulty
    Multipurpose terminals privatized in eight Saudi ports
    Multipurpose terminals privatized in eight Saudi ports
    Riyadh
    Four will be operated by Saudi Global Ports and four by Red Sea Gateway Terminal
    Public debate launched on the project for Pier VIII in the port of Trieste
    Public debate launched on the project for Pier VIII in the port of Trieste
    Trieste
    A total investment of 315.8 million euros is expected
    South Korea's HD Hyundai partners with US Edison Chouest Offshore to build containerships in US
    South Korea's HD Hyundai partners with US Edison Chouest Offshore to build containerships in US
    Seoul
    The possibility of building other types of ships and constructing port cranes is foreseen
    Rixi: with the Omnibus decree, Phase B of the new Genoa breakwater is guaranteed
    Rome
    Expenditure of 50 million euros authorised for 2026 and 92.8 million for 2027
    Israel-Iran conflict prompts Maersk to suspend calls at Haifa port
    Copenhagen
    Those at the port of Ashdod will continue instead.
    Northern European Nations Commitment to Counter Russian Shadow Fleet
    Warsaw
    If the vessels do not fly a valid flag in the Baltic Sea and the North Sea - they specify - we will take appropriate measures in compliance with international law.
    Freight traffic in French ports stable in the first quarter of 2025
    Freight traffic in French ports stable in the first quarter of 2025
    The Defense
    Containers and liquid bulk on the rise. Increase in unloading loads and decrease in loading loads
    Cognolato (Assiterminal): Today more than ever we need a coherent port policy
    Rome
    All the critical issues highlighted in recent years still remain open - he highlighted.
    Alessandro Pitto confirmed as president of Fedespedi
    Milan
    The Board of Directors, the Board of Arbiters and the Board of Auditors have been renewed
    A protest action by Greek seafarers is heated, with the PENEN and PNO unions launching very serious accusations, including mutual ones
    Piraeus
    The strike, declared illegal by the courts, blocks some ships of the Attica group in the port of Patras
    Saipem awarded contract for a phosphate mining project in Algeria that includes the upgrading of the port of Annaba
    Milan
    The construction of railway lines is also planned
    Suez Canal celebrates return of large-capacity containership transits
    Suez Canal celebrates return of large-capacity containership transits
    Ismailia
    Today it was crossed by the vessel "CMA CGM Osiris" which can carry 15,536 teu
    IMO, ILO, ICS and ITF urge protection of seafarers' rights against unjust criminalisation
    London
    The "Guidelines on the Fair Treatment of Seafarers Detained in Relation to Alleged Offences" were adopted in April
    Trump's new tariffs also hit container traffic at the Port of Long Beach
    Long Beach
    In the first five months of 2025, an increase of +17.2% was recorded
    Transfer of the port of Carrara from the Ligurian to the Tuscan AdSP not without a discussion with the operators
    Milan
    Dario Perioli, FHP, Grendi and Tarros ask for it
    Up to $768 billion in investments needed to adapt world ports to rising sea levels
    New York
    Port of Los Angeles Feels Impact of New Tariffs on Container Traffic
    Los Angeles
    A decrease of -4.8% was recorded in May
    Assagenti proposes a task force to solve port, logistics and industrial problems
    Genoa
    A "problem solver" consultative body composed, in addition to the categories of the maritime cluster, of the manufacturing industries of the North-West quadrant
    Cargo traffic at the port of Singapore fell by -4.6% in May
    Singapore
    New crane overturned for delivery in new Tuas port area
    In the first quarter of 2025, freight traffic on the Swiss rail network fell by -6.4%
    Neuchatel
    Service performance at 2.35 billion tonne-km, down -8.2%
    ANGOPI fears that new measures to ensure maritime continuity will penalise mooring services
    ANGOPI fears that new measures to ensure maritime continuity will penalise mooring services
    Ischia
    Power: it is necessary to remove them from a perverse mechanism
    Dutch HES International to operate bulk terminal in Marseille-Fos port
    Marseille
    The concession contract will have a minimum duration of 30 years
    Ibiza government opposes Trasmed's overnight stay on board ferry program
    Ibiza/Valencia
    It is considered a "clandestine hotel", while the company defines it as a cruise service
    Bruno Pisano appointed extraordinary commissioner of the AdSP of the Eastern Ligurian Sea
    Rome
    He will take up his post next Monday
    Federlogistica proposes a comparison between operators on the congestion fee while waiting for a solution from the government
    Genoa
    In the first five months of 2025, container traffic in the port of Gioia Tauro grew by +10.3%
    Joy Taurus
    1,813,071 TEUs were handled
    Trasportounito, truck waiting times in ports must be paid
    Genoa
    Tagnochetti: The Port Fee aims to redistribute the costs of all disruptions more equitably
    Commissioners of the AdSPs of the Northern Tyrrhenian, Ionian and Western Liguria appointed
    Rome/Genoa
    Trade unions concerned about the future of Genoa Port Terminal workers
    Political instability and green transition are the main problems that shipping faces
    London
    This is highlighted in the "ICS Maritime Barometer Report 2024-2025"
    The new container terminal of the port of Termini Imerese presented
    Palermo
    Transfer of traffic handled by Portitalia to the port of Palermo
    GCMD survey confirms shipping's commitment to decarbonisation
    Singapore
    Ports concerned about lack of certainty about demand from shipping companies
    The EU Commission has re-identified Port Said East and Tanger Med as neighbouring container transhipment ports
    Brussels
    Road haulage extends congestion fee application to Livorno port
    Livorno/Rome/Milan/Genoa
    Fedespedi, they do not solve the problems, but have the only effect of increasing costs
    The new Border Control Post has been inaugurated in the port of Livorno
    Leghorn
    The structure cost 15 million euros
    The transfer of 80% of Louis-Dreyfus Armateurs' capital to InfraVia has been implemented
    Suresnes/Paris
    The Louis-Dreyfus family retains the remaining 20%
    Port of Genoa, green light for extension of concession to Spinelli until September 30
    Genoa
    Ok also to the extension to the Campostano group
    The National Maritime Fund has started the recognition of scholarships
    Genoa
    They are granted for basic training and security familiarization courses.
    RFI and MIT sign the update to the program contract for approximately 2.1 billion
    Rome
    Around 500 million euros expected for the management of the railway network
    San Giorgio del Porto delivers a vessel for the bunkering of liquefied natural gas
    Genoa
    It was built for Genova Trasporti Marittimi
    Pisano (AdSP Liguria Orientale): the ports of La Spezia and Carrara have integrated almost perfectly
    La Spezia/Bari
    Extraordinary Commissioner of the Southern Adriatic Sea Port Authority appointed
    Raffaele Latrofa appointed president of the AdSP of the Central-Northern Tyrrhenian Sea
    Rome
    He is the deputy mayor of Pisa
    India's Mazagon Dock Shipbuilders Acquires Control of Sri Lanka's Colombo Dockyard
    Mumbai
    Investment of approximately 53 million dollars
    The Commissioner of the Western Ligurian Sea Port Authority has been granted the powers and prerogatives of the Management Committee
    Genoa
    The measure pending the restoration of the ordinary top management bodies
    The Three-Year Operational Plan 2025-2027 of the Central Adriatic Port Authority has been approved
    Ancona
    Favorable opinion of the Sea Resource Partnership Body
    The public meeting of the International Containers Studies Center will be held in Genoa on July 2nd
    Genoa
    It will deal with the physical transformations of the container and the digitalization of processes
    Andrea Ormesani is the new president of Assosped Venezia
    Venice
    The board of directors has been renewed. Paolo Salvaro remains general secretary
    Witte (ISU): In 2024, the ship salvage sector stabilized from the low of two years ago
    London
    Finnish Elomatic to Install Tunnel Thrusters on 11 Carnival Cruise Ships
    Turku
    The works will begin next autumn and will end in 2028
    The Assarmatori assembly will be held in Rome on July 1st
    Rome
    "Mediterranean against the current" the theme of the meeting
    Fincantieri has delivered the new cruise ship Viking Vesta to the American Viking
    Trieste/Los Angeles
    It was built in the Ancona shipyard
    The Genoa Coast Guard has placed the container ship PL Germany under administrative detention
    Genoa
    Italian Navy orders two new Multipurpose Combat Ships from Fincantieri
    Trieste
    The order to the shipbuilding company is worth 700 million euros
    MSC Group to manage cruise services in the ports of Bari and Brindisi
    Bari
    Ten-year concession with possibility of extension
    German Kombiverkehr Returns to Profit in 2024
    Frankfurt am Main
    The level of revenues remained unchanged at 434.6 million euros.
    Deltamarin to design the six new ro-pax vessels ordered by Grimaldi for the Mediterranean routes
    Turku
    SAILING LIST
    Visual Sailing List
    Departure ports
    Arrival ports by:
    - alphabetical order
    - country
    - geographical areas
    The practice of subcontracting in European logistics is creating a parallel labour market where rights are not enforced
    Brussels
    "Sorry, We Subcontracted You" Report Presented
    Tomorrow Grendi will launch the group's fourth ship on routes to and from Sardinia
    Milan
    "Grendi Star", with a load capacity of 2,800 linear meters, will connect Marina di Carrara and Cagliari
    FREMM frigates operational support contract signed between Orizzonte Sistemi Navali and OCCAR
    Taranto
    The agreement has a total value of approximately 764 million euros
    Call to reform the entire driver training system in the transport sector
    Rome
    Seven proposals presented
    In the port of Gioia Tauro, the Guardia di Finanza soldiers seized 228 kilos of cocaine
    Reggio Calabria
    Two dockers arrested
    Port of Livorno, new observatory to find solutions to the problem of port congestion
    Leghorn
    Marilli: We will seek solutions to reach the possible revocation of the port fee
    Lockton PL Ferrari closed the last fiscal year with gross revenues of 34 million dollars
    Genoa
    Insurance premium volume rose to 350 million
    Polish Trans Polonia Group acquires Dutch Nijman/Zeetank Holding
    Tczew
    It specializes in the transportation and logistics of liquid and gaseous products
    d'Amico Tankers Sells Two 2011-Built Tankers for $36.2 Million
    Luxembourg
    They will be delivered to buyers by the end of July and on December 21st.
    The Italian Merchant Marine Academy plans 13 new free courses
    Genoa
    Over 300 positions available
    A delegation of Wista Italy visits the ports of Catania and Augusta
    Catania/August
    The association is made up of women who hold positions of responsibility in the maritime, logistics and trade sectors.
    In the first five months of 2025, the port of Algeciras handled 1.9 million containers (-6.3%)
    Algeciras
    Empty containers decreased by -5.5% and full ones by -6.4%
    Reway Group enters the port railway infrastructure maintenance sector
    Licciana Nardi
    Two contracts awarded by the AdSP of the Eastern Ligurian Sea
    Delcomar and Ensamar take over maritime services with the smaller Sardinian islands
    Cagliari
    The tender for the six-year concession of the connections has been awarded
    Port of Trieste, the newly appointed Gurrieri torpedoes the newly appointed Torbianelli
    Trieste
    Russo (Pd): it's a squalid power game
    Singapore's SeaLead expands its maritime shipping offering to connect Turkey and Italy
    Singapore
    Route connected to services transiting the Suez Canal
    The US Container Security Initiative program has been extended to Morocco
    Rabat
    Amrani: Let's consolidate Tanger Med's role as a safe and world-class maritime hub
    Very positive first quarter for Greek Euroseas
    Athens
    Pittas: the positive momentum continued in the second quarter
    Assonat and SACE present a plan for Italian tourist ports
    Rome
    Kuehne+Nagel has opened a new branch in Naples
    Milan
    The aim is to support the operational growth of the group in Southern Italy
    RINA has acquired the entire capital of Finnish Foreship
    Helsinki
    The Helsinki-based company specializes in consulting in the field of marine and mechanical engineering.
    Container traffic down at Barcelona and Valencia ports in May
    Barcelona/Valencia
    Resumption of containers in transit at the Catalan port
    Annual cargo traffic in Greek ports stable in 2024
    Piraeus
    Domestic volumes are growing, while foreign trade is decreasing
    Perplexity of freight forwarders, customs agents and maritime agents of La Spezia at the transfer of the port of Carrara to the Tuscan AdSP
    The Spice
    Timidly, they "hope for consideration for the progress made so far"
    Francesco Mastro appointed extraordinary commissioner of the Southern Adriatic Sea Port Authority
    Rome
    He will take up office on June 30th.
    John Denholm to be new president of the International Chamber of Shipping
    Athens
    He will take over from Emanuele Grimaldi in a year
    Extraordinary commissioners of the two Ligurian Port System Authorities have been installed
    Genoa/La Spezia
    Matteo Paroli and Bruno Pisano at the helm of the institutions
    Container traffic at Hong Kong port drops sharply in May
    Hong Kong
    1.05 million TEUs were handled (-12.7%)
    Assogasliquidi-Federchimica shows the way to accelerate the decarbonization of road and maritime transport
    Rome
    Amadei: Our sector is ready and the time has come for courageous industrial choices
    Eagle S tanker command blamed for cutting submarine cables in Gulf of Finland
    Advantages
    The accident was caused by the ship's anchor
    Online platform to report critical issues that put transport workers at risk
    Genoa
    It was prepared by Fit Cisl Liguria
    GNV to create a direct summer connection between Civitavecchia and Tunis
    Genoa
    It will run alongside the historic route via Palermo
    The unification of Grimaldi's concessions in the port of Barcelona has been completed
    Madrid/Barcelona
    The contract expires on September 20, 2035.
    In the first five months of 2025, cargo traffic in Russian ports fell by -4.9%
    St. Petersburg
    A decrease of approximately -12% was recorded in May
    Raben Logistics Group Creates Subsidiary in Türkiye
    Milan
    It will have 20 employees and a 2,000 square meter cross-dock warehouse
    Alberto Dellepiane confirmed as president of Assorimorchiatori
    Rome
    The composition of the entire association leadership remains unchanged
    Agreement between Fincantieri and Indonesian PMM to develop solutions to face new unconventional underwater challenges
    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
    The Assarmatori assembly will be held in Rome on July 1st
    Rome
    "Mediterranean against the current" the theme of the meeting
    The public meeting of the International Containers Studies Center will be held in Genoa on July 2nd
    Genoa
    ››› Meetings File
    PRESS REVIEW
    US has its eye on Greek ports
    (Kathimerini)
    Proposed 30% increase for port tariffs to be in phases, says Loke
    (Free Malaysia Today)
    ››› Press Review File
    FORUM of Shipping
    and Logistics
    Intervento del presidente Tomaso Cognolato
    Roma, 19 giugno 2025
    ››› File
    Structural adaptation works on dock 23 of the port of Ancona awarded
    Ancona
    Intervention worth over 11.8 million euros
    Conference on the role of LNG and bioLNG for the decarbonisation of transport and industry
    Rome
    The Federchimica-Assogasliquidi event will take place on Monday in Rome
    Dutch Bolidt increases presence in cruise ship sector with acquisition of American Boteka
    Hendrik Ido Ambacht
    Contship Italia has acquired the Genoese customs services company STS
    Melzo
    The Ligurian company was founded in 1985
    Francesco Benevolo has been appointed extraordinary commissioner of the AdSP of the Central-Northern Adriatic Sea
    Rome
    He is the operations director of RAM - Logistics, Infrastructure and Transport
    Montaresi resigns as commissioner of the Eastern Ligurian Port Authority
    The Spice
    In the eight months of administration - he underlines - we have not lost even a second
    Gurrieri has been appointed extraordinary commissioner of the AdSP of the Eastern Adriatic Sea
    Trieste
    Pending the completion of the formal process for the designation of the president
    The commissioners of the AdSP of Western Liguria have handed over their mandate to Minister Salvini
    Genoa
    The decision is part of the process of designation and nomination of the new leaders
    Confetra criticizes the provisions of the decree-law Infrastructure for road transport
    Rome
    The Confederation urges the blocking of the process of appointing the presidents of the port authorities
    Taiwanese Evergreen, Yang Ming and WHL saw revenue decline in May
    Keelung/Taipei
    The decline is accentuated for the two main companies
    South Korea's KSOE wins order to build eight 15,900 TEU containerships
    Seongnam
    The unit value of each vessel is approximately $221 million.
    First port terminal for car traffic of Greek Neptune Lines
    Piraeus
    It will be inaugurated next year in the French port of Port-La Nouvelle
    The assembly of the association of Genoese maritime agents and brokers will be held on June 16th
    Genoa
    Round Table on Genoa, the hub of the North West and the Mediterranean
    BN di Navigazione Board of Directors Renewed
    Genoa
    BluNavy aims to reach one million passengers by 2025
    Viking Line designs world's largest all-electric ro-pax vessel
    Viking Line designs world's largest all-electric ro-pax vessel
    Åland
    Record Monthly Container Traffic at Turkish Ports
    Ankara
    In May, almost 1.4 million TEUs were handled (+17.6%)
    Sergio Landolfi has been elected president of the Customs Association of the Port of La Spezia
    The Spice
    The board of directors has been renewed
    The ferry industry elite will attend the Interferry conference in Salerno in October
    Victoria
    Event titled "Connections"
    Uniport launches an initiative to support ALS research
    Rome
    Fundraising for the NeMO Clinical Center Serena Foundation Onlus
    The Propeller Club of Genoa has analyzed risks and opportunities of using AI in the maritime and insurance sectors
    Genoa
    The importance of training in the use of technology was highlighted
    Chantiers de l'Atlantique delivers luxury cruising yacht Luminara to The Ritz-Carlton Yacht Collection
    Saint Nazaire
    The ship will debut in Alaska
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