While Panama’s “logistics hub” lags:
Not only are investments surging in US railroad networks, but mega ships are demanding public and private railroad sectors in Europe to pick up steam. An extensive survey of these phenomena is reported in the January 23 edition of the Journal of Commerce by Special Correspondent, Malcolm Ramsay. “With the largest mega-ships now carrying up to 19,000 twenty-foot-equivalent units, modern ports need the capability to transport huge volumes of containers [...]
The continued decline in freight rates caused by the lack of measures to reduce capacity of ships could accelerate the decline in industry profits of container shipping companies in 2016, states the latest version of Container Forecast Report of the maritime consultant, Drewry.
It is anticipated that the decline in global container freight rates reached around 9% in 2015 and Drewry estimates that the profits of the shipping lines will suffer steeper losses in 2016, [...]
Ship breakers are watching with much interest the evolvement of mega ships – not in admiration, but as a future source of metal recycling.
If we’re to believe the big container lines, who justify ever-larger ships as the remedy for their financial woes, why are so many of them still losing money?
In the size race, Maersk Line led the pack with its Triple-E vessels of 18,000 twenty-foot equivalent units (TEUs). But nearly all of [...]
Anticipating the opening of the expanded Panama Canal, which will allow the transit of ships carrying up to 13,500 TEUs, the port of Balboa, on Panama’s Pacific coast, began to receive ships of 13,100 TEUs (20-ft container equivalents). Previously it received ships of approximately 9,000 TEUs.
The shipping world’s largest container carrier, Maersk Line, announced the replacement of ships of 9,640 TEUs that were part of the AC2 service between Asia and the west coast [...]
By Franklin Castrellón
About 90% of the cargo transported in the world is carried on container ships, and this is the main business of the Panama Canal.
Indeed, this segment accounted for 33.8% of the 340 million Canal tons (PC/UMS) which crossed this Canal in 2015. That segment of containerized cargo, like other segments, had a bad year in 2015 and prospects for 2016 could be worse, according to the maritime economist James Catlin.