Sunday, April 26, 2020

Shipping: There's a New 'World's Largest Container Ship"

From The LoadStar, April 23:

HMM launches world's biggest box ship – but its first voyage may be the last
As South Korean shipping line HMM today formally launched the world’s largest containership, the country’s government outlined an enormous financial package to prop up its maritime industries.
According to a report in The South Korea Herald, the ministry for oceans and fisheries has set aside SKw1.25trn (US$1bn) to help shipping lines, shipyards and other maritime players.

Minister Moon Seong-hyeok said: “The shipping firms are expected to suffer more serious damage after the second quarter, considering the time lapse between the global economic turmoil and the decline in their performances.”

The Herald additionally reports that the Korea Development Bank and state-owned Korea Ocean Business Corporation will also spend SKw470bn to repay HMM’s maturing debts.

The fresh injection of cash coincides with the launch of the 24,000 teu HMM Algeciras at the DSME shipyard in Okpo in a ceremony attended by President Moon Jae-in....MORE 
Meanwhil MSC sent the former "World's Largest Container Ship" to deadhead some empty boxes which is not a very good sign. From gCaptain, March 12:

MSC Sending World’s Biggest Containerships to U.S. to Pick Up Empty Boxes
MSC is deploying the world’s biggest ships to evacuate empty containers from China to the US, as carriers on the transpacific try to overcome imbalances after weeks of coronavirus disruption to their box control systems.
There have been reports of severe equipment shortages in the US and Europe as a consequence of carriers blanking around half of all headhaul sailings since Chinese New Year, due to the Covid-19 virus outbreak.
Alphaliner said MSC was redeploying the 23,756 teu MSC Mia to the transpacific leg of the 2M’s North Europe-Asia-USWC, combined AE1/Shogun-TP-6/Pearl, loop, and it will be the largest container vessel ever to call at the US.
It added that two weeks later the 23,656 teu MSC Nela would shift from the AE2/Swan Asia-North Europe loop to the transpacific, to perform a similar function....
And March 18:
Shipping Containers in Short Supply