Newsletter – January 20, 2023
OCEAN FREIGHT UPDATES
Sask. seeking to limit fees on exports going through Port of Vancouver
Saskatchewan is heading to court to get involved in a case based in B.C.
In a media release Tuesday, the provincial government said it was joining Manitoba in seeking leave in Federal Court to intervene in a judicial review of the Vancouver Fraser Port Authority’s new gateway infrastructure fees. Read more here.
Bleak outlook post-Chinese New Year prompts more blank voyages
As China begins its lunar new year celebrations this weekend, ocean carriers are desperately seeking visibility of export cargo demand for the first weeks and months of the Year of the Rabbit.
And with the short-term outlook looking bleaker by the day, 2M partners MSC and Maersk yesterday blanked a further six transpacific headhaul voyages – following those they announced on 12 January – through to the cancelled sailing of the MSC Barbara from Shanghai on 12 February. Read more here.
Despite drop in revenue, Yang Ming pushes on with plan for greener fleet
Yang Ming is pressing ahead with plans to build five 15,000 teu LNG-powered containerships, despite the Taiwanese liner’s revenues plunging across the final quarter of last year.
Figures from the Taiwan Stock Exchange show Yang Ming’s cumulative turnover in the period was 42% below Q4 21, at TW$60bn ($1.96bn). Read more here (login required).
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Jensen says container trade recovery could be delayed until 2024
The hopeful projections for recovery in cargo volumes in 2023 may be overshadowed by the more pessimistic projection of delayed recovery which may only manifest itself in 2024, according to Lars Jensen, Principal at Vespucci Maritime based in Copenhagen, Denmark.
Jensen was speaking to the Propeller Club of Northern California (PCNC) on January 17th in which he said that the recovery in ocean shipping volumes may have to wait until 2024. Read more here.
Shipmanagement software vendors targeted by hackers
hipmanagement software vendors have been warned to be on their guard with experts suggesting this maritime niche is becoming the focus of hackers.
With Voyager Worldwide and DNV’s ShipManager software both hit by cyber attacks in the past couple of months, and other cyber incidents happening but going unreported, there is strong speculation that hackers are targeting this type of software provider, with links to hundreds of ships among client bases. Read more here.