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31  Shipspotters all over the world / Shipping News and information / Mega container ship order considered trend-anomaly on: September 05, 2017, 08:35:32 pm
CMA CGM's latest order for nine mega container ships will not spark a buying spree, according to one broker, but the price for the large vessels appears to have stabilised.

CMA CGM’s latest deal for nine 22,000 teu container ships from Chinese yards – the first ultra-large container ship order since 2015 – is not expected to inspire to a rash of orders akin to that seen in 2013–15.

Ranulf Swallow, a broker at Braemar ACM told Fairplay, “The alliances are all set up now and they have structured their services with all the large vessels that they need, and with the industry consolidation there is no reason for the other lines to follow suit."

In total IHS Markit Maritime and Trade figures show that 90 ships totalling 1.799 million teu have been ordered since 2013 with the latest order from CMA CGM adding a further 198,000 teu.

Mega-container ship prices hovered at around the USD160 million mark at time of press, a little under the USD163 million price tag seen for Maersk’s last Triple E order at the Daewoo Shipbuilding and Marine Engineering (DSME) yard in South Korea. It is of note that the Triple E vessels were fitted with IMO Tier II engines, and vessels with tier II engines ordered from Chinese yards bore a sticker price of  around USD155 million.

CMA CGM did pay USD145 million per ship for a series of three 20,000 teu vessels in 2015 from Hanjin Heavy Industries and Construction, Philippines. However, this pricing was considered an exception from the norm, mainly due to low labour costs in the Philippines.

In its latest order, CMA CGM has signed a letter of intent for nine vessels at a reported USD160 million each, but the order has yet to be confirmed. However, yards often lay a number of keels, prior to the enforcement of new rules to “skirt around regulations”, according to one shipyard industry insider.

Tier III NOx regulations came into force in January 2016, but some yards are still offering Tier II slots, which will reduce the final price of the vessel. The insider said that the yards “offer cheap rates to close clients”.

There is no suggestion that CMA CGM has managed to “skirt” the Tier III regulations in this way, and when Fairplay contacted the line for a comment on the letter of intent, a spokesperson said, ”We cannot confirm the order, we never comment on market rumours.”

Source IHS
32  Shipspotters all over the world / Shipping News and information / Germany’s Harren takes over ‘K’ Line heavy-lift unit SAL on: July 27, 2017, 03:16:00 am
The family-owned German shipowner Harren & Partner has reached an agreement with Japanese shipping major ‘K’ Line to take over the latter’s heavy-lift carrier SAL, headquartered in Hamburg, along with its fleet of 15 multipurpose heavy-load vessels.

The deal was closed after lengthy negotiations, which are believed to have been dragging on since autumn 2016, and will come into effect from tomorrow, 27 July, according to a statement issued by Harren & Partner on Wednesday.

The Bremen-based owner of a diversified fleet of container vessels, dry cargo ships, tankers, and other types is already active in heavy-lift shipping both as asset owner and operator of ships through its group affiliate Combi Lift.

The joint fleet of Harren and SAL comprises 26 units, 23 of which will fall under central commercial management by SAL in the future. The employment of the other three units remains unclear. They may be operated within the BHS pool, which was jointly set up by Harren and Leer-based owner Briese a few years ago.

The company’s managing director, Martin Harren, said in a press release that SAL’s integration into Harren & Partner would allow it to take a more dominant position in the premium heavy-lift segment, which would help increase “pricing discipline” in the sector. Freight and charter rates in the project cargo/heavy-load segment reached new lows early this year, with average vessel earnings far below daily running costs.

The purchase price was not disclosed. Harren’s management was also not available to clarify the financing of the transaction and whether ‘K’ Line itself and/or the financing banks of SAL’s ships will remain involved as lenders to Harren for the takeover.

The company has a track record of co-operating with private equity investors and investment banks such as Goldman Sachs and JP Morgan for some years. It has also just placed newbuilding contracts for a number of tugboats and barges to support project cargo shipments for the Amur gas processing plant project in eastern Russia at a time when most other German shipowners are struggling to cover their daily expenses.

The integration of SAL into Harren would see the heavy-lift carrier assume all control over heavy-lift vessel operations within the group, while sister company Combi Lift would switch its focus to project logistics, engineering, decommissioning, and salvage solutions, the group said.

Source IHS Fairplay
33  Shipspotters all over the world / Shipping News and information / Re: Berge Stahl back into service until 2021 on: April 19, 2017, 03:53:51 am
Will she be calling Europoort again?

No,now she sail between China and Brasil for the comming years Frans.
34  Shipspotters all over the world / Shipping News and information / Berge Stahl back into service until 2021 on: April 18, 2017, 09:59:51 am
Berge Stahl Re-approved until the end of 2021.All certificates have been renewed.She is now en route to Tubarao Brazil.

35  Shipspotters all over the world / Site related news, functions and modules / Re: New Category: First photo / obstructed view??? on: March 20, 2017, 07:15:44 am
Not all IMO numbers arevisible on the ships.

Rgds
Hannes.

36  Shipspotters all over the world / Help and Advice / Re: Stolen photos on Instagram on: February 25, 2017, 06:34:08 am
His page is no longer available.
https://www.instagram.com/ship_spotter68/
Thanks for your effort David.

Rgds
Hannes.
37  Shipspotters all over the world / Help and Advice / Re: Copyright abuse - Shelby80 on: February 11, 2017, 07:07:48 am
Thanks David,for all your effort you have made to solve this problem with shelby80. TOP!!

Rgds
Hannes.
38  Shipspotters all over the world / Shipping News and information / Maersk 2016 loss expected to narrow on Q4 Hanjin effect on: February 07, 2017, 09:57:13 pm
Maersk Line container volumes in the fourth quarter of 2016 will show that the carrier has been a key beneficiary of the Hanjin Shipping collapse, joining Orient Overseas Container Line that also enjoyed a volume bounce in the last three months of the year, said Lars Jensen, CEO and partner at SeaIntelligence Consulting.

Annual results season has begun and so far of the major carriers, the three Japanese lines have announced their results while OOCL has released its operational update for the year that shows revenue and volumes but no profit and loss figures. Maersk Line will release its 2016 earnings tomorrow.

Maersk Line recorded a USD116 million loss in the third quarter that took its nine-month losses to USD230 million. The 2016 year got off to a dismal start with first quarter profit collapsing 95% year on year, followed by a second quarter loss of USD151 million. Maersk Group CEO Soren Skou warned at the third-quarter results announcement that low rates in the first half would see liner division earnings falling sharply in 2016.

But it appears Hanjin's loss was Maersk's gain. When Hanjin collapsed on 31 August, shocked shippers fled to “safe haven” carriers that were more financially secure, such as OOCL and Maersk Line. Jensen said this was reflected in OOCL’s fourth quarter container volumes and Maersk would enjoy the same effect.

OOCL’s operational update showed that trans-Pacific volume during the fourth quarter increased by 30.6% to 439,620 teu, and Asia-Europe volumes grew 28% to 264,410 teu.

“I expect to see Maersk Line as a key beneficiary of the Hanjin collapse in terms of freight volumes,” Jensen said. “Thus far, we have seen OOCL benefit substantially from this effect, whereas the three Japanese do not appear to have benefited in the same substantial way.”

NYK as a group lost USD2 billion for the nine months ended 31 December 2016, but its liner operation was profitable, recording a USD36 million profit. ‘K’ Line’s container shipping unit lost USD27 million for the period, and Mitsui OSK Lines lost USD43 million in its third quarter.

“We still need to await operational results from the other global carriers to get the full picture of how the spoils from Hanjin has been divided, but it certainly appears that the ‘flight to safety’ for Hanjin volume, which the market has been talking about for months, has indeed been good for OOCL who is seen as one of the more financially stable carriers,” said Jensen.

Alphaliner analyst Tan Hua Joo was also optimistic about the effect of an improved fourth quarter on the Danish carrier. “I expect Maersk to post a significantly reduced loss in the fourth quarter due to volume gains and higher spot rates,” he said.

The Maersk 2016 earnings will benefit from recovering rates on Asia-Europe, which ramped up OOCL’s revenue in the fourth quarter by 22.9% to USD217 million, and its trans-Pacific revenue rose 12.4% to almost USD500 million. However, a good last quarter will not be able to lift declining average revenue per container rates into positive territory. OOCL reported this per-box revenue falling 17.4% for the full year compared with 2015 as record low rates during the first half dragged down earnings.

Jensen said he expected Maersk to deliver a 2016 performance that would enable the carrier to maintain an EBIT margin above that of its peers, but he added: “In my view it is the long-term game that matters, and not whether or not any single year is profitable.”

Maersk Group in September last year announced that it will be reorganised into two separate divisions, with the synergy efforts expected to deliver cost savings of about USD600 million over the next three years.

Transport & Logistics, comprising Maersk Line, APM Terminals, Damco, Svitzer, and Maersk Container Industry, will be led by Skou. The Energy division will consist of Maersk Oil, Maersk Drilling, Maersk Tankers, and Maersk Supply Services and will be headed by Claus Hemmingsen, who is also group vice CEO, the company announced from its Copenhagen head office today.

Maersk Group was also involved in the wave of consolidation that swept through the liner industry, announcing in December that it was acquiring German carrier Hamburg Sud and that the deal would be finalised by the end of 2017.

Source IHS
39  Shipspotters all over the world / Help and Advice / Re: Stolen photos on Instagram on: December 25, 2016, 09:55:33 am

Have just emailed them and await response on behalf of all our members who have had photos used without permission

best regards

Derek
[/quote]

I've also emailed them in the past (Instagram), but they do not respond even.I have posted some comments on nader_zahra his account on Instagram.I guess he does not like it.

Rgds
Hannes.
40  Shipspotters all over the world / Shipping News and information / Hanjin's 141 ships all now offloaded on: December 02, 2016, 09:15:32 pm
All 141 ships operated by Hanjin Shipping when it went into receivership have discharged their cargoes, South Korea's Ministry of Oceans and Fisheries (MOF) has announced.

The vessels comprise 97 container ships and 44 bulk carriers and tankers. Hanjin Shipping's descent into receivership caused logistical chaos worldwide as the company scrambled to secure stay orders in various jurisdictions to prevent creditors from arresting its ships.

The last loaded ship, Hanjin Vienna, which was arrested by Saam Smit Canada in Constance Bay, Canada, had its containers offloaded on 27 November, said the MOF. The boxes were transferred to another ship, Hanjin Seattle, which is sailing towards China and South Korea.

The MOF formed a task force to expedite the discharging of cargoes from Hanjin Shipping's stranded ships and to safeguard the welfare of their crews. Assistance was also provided to affected shippers and freight forwarders. The ministry estimated that KRW383.7 billion (USD327 million) was disbursed to 694 applications over expired contracts during logistical disruption.

To plug the gap, other South Korean lines, especially Hyundai Merchant Marine, deployed 11 ships to collect cargoes meant for Hanjin Shipping's routes.

Forty-six of the 61 ships (37 container ships and 24 bulk carriers) under Hanjin Shipping's management were supplied with 75 items of daily necessities. The 649 seafarers (255 South Koreans and 394 foreigners) from the ships Hanjin Shipping has redelivered to its tonnage providers have also been informed they may return to their countries.

The MOF said that follow-up measures will continue, especially for handling Hanjin Shipping's cargo contracts and re-employing seafarers as the company's operations remain at a standstill.

It is estimated that 39.9 million teu of cargoes were contracted with Hanjin Shipping.

Once South Korea's largest shipping line, Hanjin Shipping collapsed after incurring over USD5 billion of debt and losing its banks' support. The company is expected to produce a rehabilitation plan by 3 February 2017, although liquidation is very likely, given its massive debt and the monumental effort restarting its operations would require. Hanjin Shipping's intra-Asia and Asia-US container shipping businesses have been sold to Korea Line Corporation at the courts' orders.

Source IHS
41  Shipspotters all over the world / Shipping News and information / Hamburg Süd sale will come with a loss-making dry bulk division on: December 02, 2016, 09:09:48 pm
Maersk Line and CMA CGM are reportedly in talks to buy Hamburg Süd, but whichever container shipping company buys the German carrier will also inherit a sizeable and loss-making dry bulk and product tanker business.

Hamburg Süd spokesperson Christiane Krämer said the carrier would not comment on market rumours that it was in acquisition discussions with Maersk Line, even as maritime analyst Alphaliner reports that CMA CGM has now made a bid for the carrier.

While most of the attention is focused on Hamburg Süd's liner services where it has 116 vessels, the carrier also operates a tramp bulk business with 59 chartered-in ships comprising bulk carriers and product tankers. The bulk vessels are Handysize and Handymax vessels of 35,000 to 58,000 dwt, and Panamaxes of up to 76,000 dwt, while the product tankers are smaller units of up to 45,000 tonnes capacity.

The bulk sector is in a poor state with no carriers reporting profits while excess capacity and weak demand drag down rates. As a private company, Hamburg Süd is not required to report full financial results, but in its review of the 2015 performance, the carrier’s parent Oetker Group said the bulk shipping business was marked by difficult market conditions and missed its target results “by a wide margin”.

Its forecast for 2016 was equally bleak, “No fundamental improvement of the 2016 market environment is expected in dry bulk shipping”. The outlook Hamburg Süd gave for product tankers is slightly better.

There has been an improvement in volumes in the fourth quarter but BIMCO chief shipping analyst Peter Sand said in a recent report that the stronger demand side growth was the only reason market conditions have improved in the chronically oversupplied sector. However, he warned that the dry bulk shipping supply side was worse off today than earlier estimates projected for 2016.

“The dry bulk market is still in a terrible condition. Regardless of a significant improvement in the BDI from its all-time low back in February 2016, the freight market remains loss making and in a very bad state,” he said.
 
While the container line that acquires Hamburg Süd will also take over this poorly performing side of the shipping business, their attention will be more focused on integrating the German carrier’s liner division and capitalising on its north-south strength.

The Oetker Group only reports overall turnover numbers, and according to Alphaliner, total revenue from liner shipping operations, after adjustment for foreign exchange losses, has been declining since 2013 when it hit a peak of USD6.4 billion. Turnover dropped to USD6.32 billion in 2014 and to USD6.26 billion in 2015, despite the inclusion of CCNI’s liner shipping activities since March 2015.

Of the carrier’s liner fleet, 44 are owned and 72 chartered, with an aggregate capacity of 600,344 teu and a market share of 2.9%, Alphaliner said. The total value of ships and container assets on the Oetker Group’s books is listed at USD2.19 billion as at the end of 2015 and it has eight ships comprising 30,400 teu on order.

Source IHS
42  Shipspotters all over the world / Shipping News and information / Renaming Hanjin Africa on: November 27, 2016, 08:25:24 pm
Hanjin Africa renamed to

MAERSK EMERALD
TEU:(Nominal)13102
Built 10 Aug 2012
IMO No.9502910
Call Sign2FQW2
Class DNV-GL 100 A5
Flag Isle of Man
Arrived Rotterdam 06 Dec 2016, 07:00

Rgds
Hannes.
43  Shipspotters all over the world / Site related news, functions and modules / Re: New Category: Seasons Greetings 2016 on: November 26, 2016, 05:05:37 am
Good work. Grin
44  Shipspotters all over the world / Shipping News and information / Maersk Line takes redelivered Hanjin ship on: November 01, 2016, 02:13:55 pm
Maersk Line has taken a Panamax container ship which stricken Hanjin Shipping recently redelivered to a tonnage provider.

According to a Korea Exchange filing by Kukje Maritime Investment (Kmarin), it has fixed out a 4,532-teu ship to Maersk Line for a minimum period of two years, with options to extend the hire up to 62 months.

The ship name was not disclosed, but Kmarin stated that Hi Gold Ocean Kmarin No 8 SA is the special purpose vehicle that owns the vessel concerned.

According to IHS Maritime & Trade’s Sea-Web data, Hi Gold Ocean Kmarin No 8 SA owns the 2013-built Kmarin Aqua, which was formerly called Hanjin Aqua.

The data shows that the ship was returned to Kmarin in September, shortly after Hanjin Shipping went into receivership. The latter was ordered by the Seoul Central District Court to return all of its chartered-in vessels, which numbered more than 80 ships.

Demand for Panamax ships has fallen following the expansion of the Panama Canal, which now accommodates post-Panamax ships. It is thus likely that the Kmarin Aqua has been fixed to Maersk Line at a rate substantially lower than what Hanjin Shipping paid.

According to shipbrokers, the going rate for Panamax container ships is languishing at around USD4,600/day, which is less than half of what is required to cover financing costs.

On 4 December 2015, the then Hanjin Aqua ran aground in the Sunda Strait while sailing from Adelaide to Jakarta, with damages of USD53.24 million.

After the incident, it was found that Hanjin Aqua was detained by Australian Port State Control inspectors for four deficiencies, including fire safety, and propulsion and auxiliary machinery repairs.

Its hull was breached on a rocky shallow and one of the ballast compartments flooded, causing the vessel to list 3° starboard. The vessel was subsequently repaired.

Many industry observers now have doubts that Hanjin Shipping can ever be revived.

Source IHS
45  Shipspotters all over the world / Shipping News and information / UPDATE: HMM and Korea Line among five bidders for Hanjin's trans-Pacific, intra- on: October 28, 2016, 01:30:14 pm
Hyundai Merchant Marine, Korea Line Corporation and the Korea Shipowners' Association are among five bidders for Hanjin Shipping’s Asia-US and intra-Asia networks.

HMM and KLC said in Korea Exchange filings that they have submitted letters of intent for their bids on Friday, 28 October, the last day for such submissions. The announcement came after a HMM spokesman told Fairplay that the company is “positively considering a bid for Hanjin Shipping’s Asia-US network”.
 
The spokesman said, “HMM has received consulting services to strengthen competitiveness from various angles, and acquisition of Hanjin’s assets is one of them.”

South Korean private equity firm Hahn & Co, which formed H-Line Shipping after acquiring Hanjin Shipping's LNG and dedicated bulk shipping contracts in 2014, has also submitted a letter of intent. The company had also acquired HMM's dedicated bulk business earlier this year.

The Seoul Central District Court, however, declined to identify the fifth bidder.

The court ordered Hanjin to sell these networks as it explores ways to keep the stricken company alive after it went into receivership on 1 September, having accumulating more than USD5 billion debt and losing its bankers' support.

The deadline for the submission of letters of intent coincided with HMM CEO Yoo Chang-keun’s return from business trips to the US and Europe, where he sought to bolster HMM’s standing after the company staged a remarkable escape from bankruptcy. HMM staved off receivership after its parent, Hyundai Group, sold considerable assets, reduced charterhire costs, and announced plans to join the 2M alliance in June. These moves convinced the company’s main creditors to swap debt for equity and HMM is now restructuring under its bankers’ guidance.

While this is just a preliminary bid and is pending due diligence, HMM apparently thought of participating in the tender to see the extent that acquiring Hanjin’s Asia-US and intra-Asia networks would strengthen its own competitiveness. The Asia-US network comes with five container ships, related personnel, the company's logistics systems, and seven overseas subsidiaries.

The submission for letters of intent closes at 1500 h local on 28 October and due diligence will take place from 31 October to 4 November. Bidders must submit a final proposal by 1500 h local time on 7 November.

KSA vice-chairman Kim Young-moo said that if the association passes the due diligence process, it is likely to form a consortium with three local feeder operators, Korea Marine Transport Co., Ltd (KMTC), Sinokor Merchant Marine and Heung-A Shipping to take its bid to the next step. South Korean politicians have expressed concern about Hanjin Shipping's business being acquired by a foreign company.

If the aforementioned feeder operators were to acquire Hanjin Shipping's Asia-US network, these companies would be diversifying their areas of focus.

Maersk Line and Mediterranean Shipping Company (MSC), widely viewed as likely bidders, also apparently decided that there was no commercial value in expanding their trans-Pacific businesses.

Internally, HMM is also said to have determined that the acquisition of the Asia-US network would not add value to its business, although it hoped it could realise some benefit from the assets.

In any case, there have been strident calls from the local shipping community that a South Korean shipping line should acquire Hanjin’s assets to help resolve the crisis afflicting the country’s troubled shipping industry. There is speculation HMM has been urged by the government to take over its domestic rival’s business.

An industry source said, “In the two months since Hanjin Shipping filed for bankruptcy protection, its liner services have come to a standstill, and the company is virtually worth nothing. These assets should have been sold before Hanjin Shipping went into receivership, so the ‘golden period’ for the sale has been missed.”

MSC has scotched rumours that it was planning to bid for Hanjin’s trans-Pacific sales network that the Seoul Central District Court has agreed to put up for sale.

If the aforementioned feeder operators were to acquire Hanjin Shipping's Asia-US network, these companies would be diversifying their areas of focus.

Maersk Line was also reportedly approached as a potential buyer but a spokesman said the carrier did not comment on speculation.

Alphaliner, which analyses container trade, said recently that Hanjin’s trans-Pacific network has little value to its rivals, saying it was unclear what the value of the trans-Pacific network would be to existing trans-Pacific operators.

“Apart from the fact that Hanjin’s operations have been loss-making, most of its network would overlap with the existing networks of the incumbent carriers, and the added overhead costs of a duplicated network and redundant vessels are the last things that carriers would buy at the moment,” the analyst said in its weekly newsletter.

The latest trans-Pacific carrier statistics for Asia-US cargo discharged in September show that Hanjin’s share fell from 7.3% to 4.4%, but with container ship charterhires at historic lows and idle vessel capacity nearing an all-time high, Alphaliner said it was easy for Hanjin’s competitors to step in and fill the void.

Rgds
Hannes.
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