Containership Volume To Slow
The giant containerships, which act as a floating conveyor-belt for international trade, are struggling to maintain volumes in the face of global slow down, shipping analysts said.
Analysts said it was the container carrying behemoths on the trans-Pacific trades that had started to suffer first, largely because of U.S. slow down.
Many can load over 6,000 truck-sized units at once, packed with anything from refrigerated fruit and shellfish through to televisions and cars.
The Commonwealth Group estimated the Pacific decline at 10-15 percent since a year ago. The result is that earnings will fall.
Clarksons said on top of the threats to shipping demand, there was also the danger of huge oversupply.
The orders were placed during the two boom years of 1999 and 2000.
Shipping database Lloyd's Register- Fairplay lists over 100 new giant ships under construction, each capable of carrying over 5,000 truck-sized containers.
Many smaller ships are also in the pipeline.
While the Japanese are reportedly the most exposed, the Germans have taken a heavy hit as well.
Between them, Japan's NYK, K-Line and Mitsui O.S.K Lines had placed about a third of the big orders, while German tax-incentive schemes were also responsible for about a third.
Traditional European operators had been less involved. Germany's Hapag- Lloyd and A P Moller, Britain's P&O and Greece's Costamare had between them only contributed to one tenth of the glut. One outcome could be consolidation within the market, and many smaller players could disappear.
Other stories from August 2001 issue
- First Wove Marine Files Reorganization Plan page: 36A
- Danish Contingent Strong At OE2001 page: 36C
- Containership Volume To Slow page: 36D
- Hempel Celebrates 50 Years page: 36G
- SSPC 2001 Set For November in Atlanta page: 36E
- Janet M. McAllister Welcomed To NY page: 4
- Reefership Within A Containership page: 8
- Innovation on the fjords page: 9
- Shipping Internet: Where next? page: 12
- Mahachai Dockyard: Freezers for Southern Waters page: 14
- Rodriquez Cantieri Navali Delivers Newest Fast Ferry page: 14
- Elliott Bay Develops Eco-Tourism Vessel page: 15
- Bollinger Delivers 145-ft. Supply/Utility Boat To Bordelon page: 16
- Gladding-Hearn Delivers Cape Fear Pilot Boat page: 18
- Shipbuilding R&D Supported page: 19
- Top Navy Officer Supports DD-21 page: 21
- Bollinger Incat USA - Marking Its Territory page: 24
- Ready to Burn: Fast Ferry Market Looks Good page: 27
- Palmer Johnson Teams Up With Atlantic Dry Dock For SuperYacht Refit Facility page: 29
- U.S. Report America's Cruise Line Faces Delivery Delays, Job Cuts page: 30
- USN Confident Of Raising Sunken Fishing Vessel page: 31
- Detyens Concludes Largest U.S. Conversion page: 32
- IZAR Lands FPSO Order page: 35
- ABB's Compact Pod Makes Mark In $42M Deal page: 35
- Offshore Inland: Poised To Pounce On Offshore Upturn page: 36
- Izar Ferrol Repairs Eight Vessels At Once page: 38
- Loose Cable Contributed To Crane Collapse page: 40
- Raising the Standard for Bulk Carrier Cranes page: 41
- Belotti Handling Reinvents The Reach Stacker Machine page: 41
- Chartco: The Best of Both Worlds page: 42
- U.S. ENC Availability Starts To Gain Speed page: 42
- Kelvin Hughes Bridge Chosen For Queen Mary 2 page: 45
- Raytheon To Supply T45 With IBS, Nav Package page: 46
- RIB Technology Makes Stronger, Faster Boats page: 49
- Zodiac: From Flying Machines to RIBs page: 51
- Willard Marine, MetalCraft Inc. Launch Hybrid Aluminum/FRP RIB page: 52
- Type 45 Destroyer Build Plans Modified page: 53
- UK Manufacturers Seek To Forge New Partnerships page: 54