'Party is over': Hapag Lloyd CEO Says Freight Rates to Keep Declining

[Maritime Today]

The maritime industry's original and most viewed e-news service February 1, 2023 Maritime Today The maritime industry's original and most viewed e-news service 'Party is over': Hapag Lloyd CEO Says Freight Rates to Keep Declining Container freight rates will keep declining in the current realignment of shipping demand and supply, said the chief executive of Germany's liner Hapag Lloyd, the world's number five by transport capacity."The party is over. We are back to a normal shipping business," CEO Rolf Habben Jansen told reporters at a briefing late on Tuesday on the state of the UK Navy Buys Mine-hunting ‘Mother Ship’ A specialist ship purchased by the U.K. Royal Navy to support mine-hunting operations has arrived in Plymouth.When deployed, the vessel will be based at Naval Base Clyde and used as a mother ship tp Featured video Harlem Rocket Tour Boat to Debut in 2023 Garry Johnson and his team offer a unique culture- and education-based maritime experience, starting this summer in New York City. Anchorage Launch Gets New Metal Shark-built Crew Boat Metal Shark delivered a welded-aluminum 45 Defiant crew boat to Anchorage Launch Services Company, an Oregon-based operator providing launch, line, pilotage Keppel to Deliver Guyana-bound 'Mega' FPSO to SBM Offshore in 1Q Singapore's Keppel Offshore & Marine’s said Wednesday it was on track to deliver a "mega" floating production, storage, and offloading vessel (FPSO) to SBM Offshore in the first quarter of 2023. Analysis: Container Shipping and Falling U.S. Retail Sales “Despite falling 1.1% m/m in both November and December, US retail sales volumes remain 13% above 2019 levels and 6% higher than the pre-COVID trend. As Ice Recedes, Italian Ship Makes Record Journey into Antarctic An Italian ice-breaker carrying scientists researching in the Antarctic has sailed further south than any ship has done before, the organizers of the voyage said on Tuesday Western Tankers Ramp Up Russian Oil Shipments Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow's flagship Urals grade held below an international price cap, according to market sources and Eikon data. Maritime Reporter and Engineering News (January 2023) pdf • online Middle East Repair Yards Center Stage A wave of new investment, including the resergent offshore oil and gas business, drive activity at repair and refit yards in the Middle East. By Paul Bartlett Future Fuels: Moving toward Ammonia MAN Energy Solution’s Bjarne Foldager recently hosted MR in Copenhagen at the R&D center for a look under the hood of the new ammonia engine. By Greg Trauthwein Interview: Tim M. 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Currently being tested in small scale demonstration and pilot projects Wagenborg's Multi-Purpose Vessel to Support Decommissioning Works in the Southern North Sea Offshore vessel operator Wagenborg Offshore said Tuesday it had secured a long-term deal with an unnamed energy major for the deployment of a multi-purpose offshore vessel. Baltic Index Drops to Lowest Since June 2020 The Baltic Exchange's dry bulk sea freight index fell to its lowest since June 2020, weighed by weaker demand for capesize and panamax vessels. Diana Shipping Takes Delivery of Ultramax Dry Bulker, Secures Charter Bulk carrier firm Diana Shipping said Wednesday it had has taken delivery of the 2016-built DSI Aquarius ultramax dry bulk vessel of 60,309 dwt. WindServe Marine Secures Loan for Offshore Wind CTV Construction WindServe Marine, a U.S. offshore wind support services company, has secured a loan from The Washington Trust Company, for the construction of three new 88-foot crew transfer vessels (CTV) Dalian Coking Coal Slumps as Traders Eye Australian Supply Chinese coking coal futures extended losses to hit their lowest in four weeks on Wednesday, as traders kept an eye on a batch of Australian coal cargoes expected to arrive soon in top steel producer Featured Jobs Temp. 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