On the wires: Boxship boom turns to bust, bigly!
Here comes the pain
By Alex Lennane
And so the saga continues – but not well for beleaguered Hanjin Shipping. Ship lessor Seaspan says the renegotiation of rates is illegal, and it will not tolerate it. However, it said it may consider ordering new, more fuel-efficient ships and leasing them to Hanjin to help improve the shipping line’s competitiveness, although that isn’t going to help its short-term fate. At the moment, Hanjin leases seven ships from Seaspan but is also in talks with other lessors, covering 60 ...
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June 18, 2016 at 3:53 pmData from Alphaliner revealed last week that the 13,154 teu Hyundai Pride will be phased out of the G6 Loop 4 service this week, replaced by the 13,208 teu OOCL Egypt, and over this weeks, the 13,092 teu Hyundai Together, 13,154 teu Hyundai Hope and 13,154 teu Hyundai Victory will all be removed from Loop 5 in favour of OOCL vessels of the same class.
As mentioned above by Alphaliner. HMM’s 4 container vessels are laid up to the port. OOCL’s container vessels have been laid up around the ports.
According to Lioyd List interview with Seaspan. The press said Seaspan expressed to withdraw vessels from Hanjin Shipping without correcting charterage for Hanjin Shipping. When this news was announced on June 17, 2016 by Korea media. The stock price of Hanjin Shipping rose by 2210 at 3 pm.
If Seaspan withdraw 7 container vessels from Hanjin Shipping without correcting 30% charterage for a period of about three-and-a-half years. Hanjin Shipping seems to charter 7 container vessels from HMM and other operators promptly at the reasonable prices. but Seaspan seems to take times to find another operator for 7 container vessels.
As all HMM’s vessel owners corrected charterage 21% for container ships and 25% for bulk ships. If you want Hanjin Shipping to survive in the container shipping industry, Seaspan should correct over 27% for Hanjin Shipping. Compare Maersk Line ‘s charterage rate with Hanjin Shipping’s one
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