Tag: containerships

Capital-Executive Ship Management Corp. has successfully taken delivery of four new 2,862 TEU container vessels from HD Hyundai Mipo Dockyard.

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, looks at the capacity expansion of the container fleet which, compared to one year ago, has experienced the fastest growth in 15 years. 

Efforts are underway to locate over three dozen containers lost at sea from the CMA CGM Benjamin Franklin while sailing near South Africa.

According to an analysis provided by Xeneta, the dramatic spike in the ocean freight container shipping market is reaching its peak as importers push back against spiralling spot rates.

HD Korea Shipbuilding & Offshore Engineering, has secured a significant order for new containerships, with the deal valued at around $27 billion.

A planned operational alliance between Maersk A/S and Hapag-Lloyd AG, aimed at jointly using vessels in shipping routes between the US and Asia, the Middle East, and Europe, has been delayed by the Federal Maritime Commission (FMC) to assess potential competitive impacts.

On July 9, 2024, the CMA CGM Benjamin Franklin encountered unexpectedly strong adverse weather conditions off the South African resulting in 44 containers lost at sea, and 30 containers on the vessel damaged.

Severe weather conditions near the Cape of Good Hope this week have caused a complete suspension of container traffic, according to analysis conducted by LSEG Shipping Research.

Asian ports, including those in China and Singapore, have been facing challenges due to increased backlogs caused by containerships diverting from their usual routes through the Red Sea. This congestion is now expanding to affect other nearby ports.

PSA Singapore (PSA) has ramped up its capabilities to support increased activity and mitigate the impact of global supply chain disruptions since the beginning of 2024.