BDP Trendwatch: Freighters escape B777 suspensions after United Airlines engine failure, Port of Los Angeles diverts ocean carriers to reduce cargo backlog, Maersk Eindhoven expected in Yokohama Thursday following container loss

Plane Flying over High Rise Buildings on Cloudy Day

Freighters escape B777 suspensions after United Airlines engine failure

Boeing 777 freighters will remain in the skies despite the recommendation to ground some B777 aircraft following a United Airlines engine failure on Saturday over Denver.

Yesterday, Boeing said it “recommended suspending operations of the 69 in-service and 59 in-storage 777s powered by Pratt & Whitney 4000-112 engines, until the FAA identifies the appropriate inspection protocol”.

Only 777-200s and 777-300s are affected, and not all of those have the P&W engine type under scrutiny. 777 freighters are powered by GE90 engines.

Source: The Loadstar

 

Port of Los Angeles diverts ocean carriers to reduce cargo backlog

The port of Los Angeles will see some incoming containerships diverted to other US west coast ports in an effort to reduce the backlog of cargo on vessels currently at anchor and awaiting berths.

The decision to divert ships from America’s premier port comes as the Federal Maritime Commission steps up its enquiry into congestion there as well as at the ports of Long Beach and New York-New Jersey.

“There have been several services that have been switched so far temporarily that will come back to Los Angeles,” port of Los Angeles executive director Gene Seroka told reporters on Wednesday.

Source: Lloyd´s Loading List

 

Maersk Eindhoven expected in Yokohama Thursday following container loss

The Eindhoven, which lost 260 containers overboard last week, is in Japanese waters, A.P. Møller – Maersk said Monday, and is expected to berth at APM Terminals Yokohama on Thursday.

Maersk is the parent company of APM Terminals, which expanded the Yokohama facility last year.

Maersk said it is awaiting clearance from Japanese authorities for transit to the container terminal. In estimating the arrival at APM Terminals Yokohama, Maersk factored in that Tuesday is a public holiday in Japan to celebrate the emperor’s birthday.

Maersk said Monday that a company examiners had boarded the Eindhoven and were inspecting the container ship, which can carry 13,100 twenty-foot equivalent units (TEUs).

Source: FreightWaves

 

No rate relief for ocean shippers as hopes of usual post-CNY slump sink

Ocean carriers are determined to keep container spot rates at their highly elevated levels for as long as possible, as they look to lock in annual contract customers with rate increases of 100% or more.

And with no sign of a spot rate decline following the beginning of Chinese New Year last week, shippers that have held off sitting down with their carriers, expecting the normal rate erosion after CNY, are now having to bite the bullet and agree much higher contract rates, rather than taking their chances on the spot market.

Source: The Loadstar

 

Taiwan sees fastest growth since 2014 amid global chip shortage

Taiwan’s economy will probably grow at its fastest pace in seven years in 2021, the government said, forecasting that a global scramble for semiconductors will deliver a boost to the island’s exports.

Gross domestic product will likely expand 4.64% in 2021, the statistics bureau said Saturday, compared to a forecast of 3.83% made late last year. Officials also revised up fourth-quarter GDP expansion to 5.09%.

The government more than doubled its estimate for 2021 export growth to 9.58% from 4.59%.

Source: AJOT, Bloomberg

 

January air cargo volumes at same level as year ago

Worldwide air cargo volumes in January were at the same level as in January 2020, the first month since the start of the COVID-19 pandemic not to show a decline year-over-year (YoY), according to the latest figures from WorldACD.

Although worldwide rates per kg were 75% higher YoY, they were 8% lower than those in December. The worldwide load factor dropped by two percentage points month-over-month (MoM) but increased by 17 percentage points YoY, thanks to a drop in capacity of 28 percentage points  (excluding the integrators). The load factors on wide-body freighters gained seven percentage points  YoY, while wide-body passenger aircraft booked an increase of 22% percentage points.

Source: Lloyd´s Loading List

 

Melbourne port strike suspended, while DP World ends lengthy dispute with union

The industrial action at Melbourne’s Victoria International Container Terminal (VICT) has been suspended.

And, in a rare double-header of good news for delay-hit Aussie shippers, DP World has finally ended its protracted dispute with the Maritime Union of Australia (MUA).

The union began a strike at ICTSI’s VICT on Friday, but the Fair Work Commission (FWC) issued an interim-order suspending the action early Saturday morning.

Source: The Loadstar

 

No rate relief for ocean shippers as hopes of usual post-CNY slump sink

Ocean carriers are determined to keep container spot rates at their highly elevated levels for as long as possible, as they look to lock in annual contract customers with rate increases of 100% or more.

And with no sign of a spot rate decline following the beginning of Chinese New Year last week, shippers that have held off sitting down with their carriers, expecting the normal rate erosion after CNY, are now having to bite the bullet and agree much higher contract rates, rather than taking their chances on the spot market.

Source: The Loadstar

 

MSC topples Maersk at the top of the box rankings

For the first time in more than a quarter of a century Maersk is on track to lose its mantle as the world’s largest containerline.

Mediterranean Shipping Co (MSC), now run by former Maersk COO, Soren Toft, has been hoovering up secondhand tonnage in a massive way over the last six months. Combined with new orders for 24,000 teu ships, MSC is now set to overhaul its 2M partner, Maersk, at the top of the global rankings, according to updated data from Alphaliner.

Source: Splash 247