These are the best of times to be buying shipping capacity and the worst of times to be selling shipping capacity. That is the message from Global Shipping Industry
These are the best of times to be buying shipping capacity and the worst of times to be selling shipping capacity. That is the message from Global Shipping Industry: Sustained Oversupply Keeps Outlook Negative', the latest study into the global shipping industry by credit rating agency Moody's.
The classic over-supply of capacity over the next 12-18 months in most shipping trades means that the supply of vessels will likely continue to outstrip demand until at least 2015. While the study focuses mainly on the dry bulk and crude oil tanker segments, the message for the operators of heavy lift ships is clear.
Shipowner finance will remain tight with selective and tightening bank lending continuing over this time, says Moody's, until at least 2014 when scrapping and mothballing of vessels could drive up rates. However, canny shippers may force the signing of forward contracts that lock-in the lower 2013 rates for years.?? The news that Clipper Projects and Thorco Shipping are set to merge and form one of the world's largest multipurpose/project shipping lines is remarkable for the news that the Clipper Projects brand will be no more.
This move is the latest consolidation of the project cargo shipping industry. Managers believe that this is the best way to ensure a profitable business and future growth in the current multipurpose market. They may not be the only ones.
This week's Friday Flyer is sponsored by Crowley Solutions, a project management organization that offers turn-key solutions for clients with marine infrastructure, offshore construction and marine cargo and logistics projects. Crowley provides project management, marine engineering, heavy lift barge transportation, ocean towing, marine project logistics, DP2 tugs to 150MT and barges to 400' x 130'.
In the corporate world
Clipper Projects and Thorco Shipping are set to merge and form one of the world's largest multipurpose/project shipping lines, creating a fleet of approximately 90 MPVs ranging from 5,000-20,000 dwt.
Teras Cargo Transport has acquired 100 percent ownership of Teras BBC, its heavy lift ocean transport j-v with Germany headquartered BBC Chartering.??A record 53,000 visitors trooped through the entrance doors of transport logistic 2013 conference and exhibition in Munich last week, to the delight of organiser Messe Munchen International.
The tills were ringing for logistics services provider Group7 as it achieved record turnover levels for FY2012 seeing a turnover of USD96.51 million, up 5 percent year-on-year over FY2011.
Unions representing staff at Cargolux have decided to snub an offer tabled by the airline and have instead voted to enter the National Conciliation Office after meeting the chairman and airline's interim president.
Capacity developments
Towage and salvage specialist Multraship has inked a contract for the long-term bareboat charter of the 72-tonne bollard pull vessel Multratug 20.
Maximus Air has pulled the plug on its fleet of A300 freighters with immediate effect to concentrate on its remaining AN-124 freighter and two IL-76s, blaming the global economic downturn.
Network news
CLC Projects will host its 4th Global Conference at the Hilton Sentral Hotel, Kuala Lumpur, Malaysia in October.??Into Africa Project has joined the XLProjects network, representing South Africa, while Tripcovich Shipping Agency has joined the network in Italy and four Chinese branches of AMAX Supply Chain Management Co Ltd have also joined the XLP ranks in Shanghai, Shenzhen, Guangzhou and Hong Kong.
Gutmann Heavy Logistics has signed up for the The BigMove Group, which now has representation in Switzerland, Austria, France and Germany.??HLPFI will be present at next week's annual conference of the WCAPN, which will take place in Barcelona.
Hatches, matches and dispatches
Ulrik Rasmussen, pictured top right, has stepped up to the plate as new FREJA Transport & Logistics managing director, and executive board member.
Kevin Buchan is to take up the reins as global managing director at Petrasco with overall responsibility for developing business interests in Aberdeen, Dubai and Houston.
Henrik Ramskov has been appointed ceo of the newly merged company Thorco Shipping, created from the combination of Clipper Projects and Thorco Shipping. Andreas G. Jørgensen, current global head of operations Clipper Projects, will move into the role of global head of operations at Thorco Shipping. Krisitan Morch will join the board of Thorco Shipping.
Esben Poulsson, current Singapore Shipping Association honorary secretary and international committee chairman, is now vice chairman of the International Chamber of Shipping.
DB Schenker has been appointed the sole logistics service provider in the EMEA region for Japanese manufacturer Roland DG.
All about Evie
Evie congratulates Aurora Global Logistics on picking up two prizes at the Club Marine Australian Marine Export & Superyacht Industry Awards. ??She is sad to see the Clipper Projects brand disappearing beneath the waves following the merger with Thorco Shipping.
However, she senses an opportunity for the newly merged company to follow in the footsteps of Clipper Projects by advertising in HLPFI to promote its services to the magazine's readers across the world.
