Mitsui OSK, NYK & K-Line to merge to solve financiaql problems?
The head of Japan’s largest shipping line — Mitsui OSK — has said that a merger of the three major Japanese container lines into one entity “could be an option” to their financial problems, ifw-net reports. Koichi Muto, President of MOL, made the remark amid broad criticism of the way the bigger container lines on the Asia-Europe trades had demonstrated a "lack of self control” that was detrimental to themselves and the industry. Muto said the idea of a merger “could be an option, of course. At the moment there is no such discussion, but we should be flexible in every way”. He added: “We roughly studied such a possibility, of course.” He mentioned that all the major lines were losing too much money in their container divisions to be sustainable over the long term. MOL itself is set to lose ¥4 billion (US$51 million) this year. K Line has the greatest exposure and has not joined the trend to charter ultra-large container ships through alliances. K Line is set to lose ¥30 billion ($384m) this year. One obstacle to such a merger is existing service alliances between NYK and MOL. en.portnews.ru/ne...
A.P. Moeller-Maersk A/S said its container shipping line, the world’s biggest, will lose money this year, lowering a previous forecast of a “modest” profit as freight rates plunged, Bloomberg reports.
Maersk Line posted a third-quarter net loss of 1.58 billion kroner ($293 million) compared with a profit of 5.9 billion kroner a year earlier, the Copenhagen-based company said today. Its parent, which also owns the Nordic region’s second-largest oil company, reported a profit that missed analyst estimates.
Freight rates are falling because the container shipping industry has added too many ships in anticipation of an economic recovery, spurring overcapacity. Maersk Line, which transports about 16 percent of the world’s manufactured goods by sea, said today that higher global container demand has not been able to offset oversupply.
“The below consensus results were driven by the weak container market and especially the Asia-Europe trade,” Erik Nikolai Stavseth, an Oslo-based analyst at Arctic Securities, said in a note to clients. en.portnews.ru/ne...
Taiwan's Yang Ming mulls ordering five 'mega' ships
Taiwan's Yang Ming Marine Transport Corp plans to order five "mega" containerships despite being hit by the global slowdown as it looks to keep up with rivals, media and an official said Monday, AFP reports.
The new ships, which are likely to be built by the island's biggest shipbuilder, CSBC Corporation Taiwan, could cost a total of more than $700 million and be among the largest vessels at sea, the Commercial Times said.
Yang Ming reported a deficit of Tw$5.3 billion ($176.02 million) in the nine months to September due to sluggish demand and soaring fuel prices, but that has not deterred the firm from ordering more ships, the Taipei-based paper reported.
"Shipping companies are building ever larger containerships, and this is a global trend that Yang Ming is unlikely to ignore," the firm's chairman, Lu Feng-hai, was quoted as saying.
Despite dismal industry outlook, shipping companies are building bigger containerships in a race for a larger market share, analysts say, adding that the bigger vessels are cheaper than the smaller ones in terms of operation cost.
Yang Ming's project, which will be submitted to the board for approval this week, calls for the construction of five containerships with each capable of carrying 16,000 TEUs (twenty-foot equivalent), it said.
The largest container ship currently has the capacity for 18,000 TEUs.
Maersk Drilling wins $550 mln rig order from Total
Maersk Drilling, a unit of Danish shipping and oil group A.P. Moller-Maersk , said it won a $550 million rig contract from Total E&P Norge, a unit of French Total, Reuters reports. The company said in a statement Total E&P Norge would hire one of two ultra harsh environment jack-up rigs currently under construction in Singapore. The firm
contract duration was four years, and included four one-year options. The contract is expected to begin at the latest
by the third quarter of 2014 upon delivery of the rig to the Norwegian North Sea, Maersk Drilling said in the statement.
The contract will last four years and includes four one-year options.
Daewoo Shipbuilding & Marine Engineering Co. (042660.SE) said Monday it is considering acquiring German wind-turbine maker Bard Holdings GmbH to secure a new growth engine.
The shipbuilder said J.P. Morgan will manage the sale for the German company. Source: in.advfn.com/news...
Yang Ming to order its first set of 16,000 teu ships
Taiwan’s Yang Ming Marine Transport will shortly order its first set of 16,000 teu ships, twice the size of its largest ships currently in operation.
Yang Ming already has a series of 12,000 teu ships on order at Kaohsiung;s China Ship Building Corp (CSBC) for delivery next year. These ships will be the largest boxships owned by a Taiwanese owner, with the island’s number one line, Evergreen, content to order 8,000 teu ships at present.
Japanese MHI secures two cruiseship contracts from Carnival's AIDA Cruises
Mitsubishi Heavy Industries, Ltd has completed two shipbuilding contracts with Carnival Corporation & plc, for the construction of two large-sized cruise ships for Carnival’s AIDA Cruises brand, World Maritime News reports. Delivery of the two ships is scheduled for spring 2015 and spring 2016 from MHI’s shipyard in Nagasaki.
The shipbuilding contracts are subject to financing.
The two 125,000 gross tonnage (G/T), 3,250 passenger ships will be the largest ever constructed for AIDA Cruises. The event marks the second new shipbuilding order for MHI from the Carnival group and the third and fourth cruise ships built by MHI for the group. Earlier, MHI built two 116,000 G/T ships for Princess Cruises: the Diamond Princess and Sapphire Princess, both delivered in 2004. Source: worldmaritimenews...
New MSC Divina to be christened in May 2012 by Sophia Loren
MSC Divina will be the newest addition to the MSC Cruises fleet when she finally graces us with her presence in May 2012, Cruisecompare UK reports.
MSC Divina will actually be named in honour of screen legend and MSC Cruises godmother Sophia Loren when she is introduced in May next year.
Although Divina will be a truly unqiue ship just like every other in the MSC Cruises fleet she will be roughly modelled on her sisters MSC Fantasia and MSC Splendida. www.cruisecompare...
Tata NYK joint venture orders three new bulkers in Japan
Tata NYK Shipping has ordered three new bulkers in Japanese yards, Seatrade Asia online reports. The joint venture between Japanese shipowner NYK Line and Indian steel group Tata has inked the supramaxes at Tsuneishi and Oshima shipyards for delivery in 2012 and 2013. The aim of the jv is to get to a position whereby half of all the Indian steel mills cargoes are shipped on the venture’s own vessels.
Currently the NYK Tata fleet stands at 16 ships, of which two are owned.
CSCL ready to order 12 mega containerships worth $1.13bn
China Shipping Container Lines (CSCL) is ready to splash $1.13bn to construct 12 containerships of 10,000 teu each at two Chinese shipyards. CSCL affirmed that it will engage separately Hudong Zhonghua Shipbuilding (Group) and Dalian Shipbuilding Heavy Industries to construct four 10,000 teu containerships, and may engage each of the two yards again to construct two more vessels. The container line added that the contract plan is subject to approval at the general meeting of the company. Source: Seatrade-Asia