b'SEPTEMBER 27 - OCTOBER 10, 2021MARITIME Section 23ACL AJOT_SailSchedule_2020_ACL2/27/209:33 AMPage 1Shipping insiders caution againstOnew capacity as prices surge atCMBONNEESSHHIIPPShipownersandfinanciersexecutivedirector, should avoid sinking money intoFinancial Leasing, the loans unit new container vessels despite aof China Merchants Bank, saidC onglobalcrunchbecauserecordattheconference.WhiletheCo nttaaiinneerrss,,RROORROO,,BBrreeaakkbbuullkkCCaarrggooordershavedrivenupprices,firmmadeseveraltransactions according to industry insiders. withmajorlinercompaniesin Industry players looking tothe first half of this year, it no buy new vessels at current priceslonger sees any more possibili-willlikelyfindthemselvesties to finance new ships in the overextended,accordingtolast few months of the year.ArjunBatra,groupmanagingThe comments add to senti-directorofDrewryShippingmentexpressedfromwithinthe Consultants,whospokeataindustrythatrisingglobaltrade ship finance conference at Sin- driven by consumer demand and gaporesMarineMoneyWeekexacerbated by supply chain dis-Asia. Its better to invest in mar- ruptions may start to ease. Germa-itime technology and decarbon- nys Hapag-LLoyd AG, said thisRORO Customer Serviceization, he added. week it has decided to stop increas- A SERVICE AL1 SERVICE AL2 SERVICE 877-918-7676The container shipping marketing spot freight rates on routes outCuto Friday Cuto Thursday Cuto Monday Export Customer Serviceisexperiencingoneofitsbestof Asia to Europe and the U.S. asFROM NEW YORK LOLO RORO LOLO LOLO 800-225-1235years as a perfect storm of COVID- it sees an end to the rally that hasTO Transit Time Transit Time Transit Time Transit Time Export Documentation drivenpurchasingdemand,seen prices hit records. ANTWERP 1620 18888-802-0401portcongestionandtyphoonsWhilefreightratesmayDUBLIN 12Import Customer ServiceBELFAST 13 boostfreightrates.OrdersfornotmaintaincurrentlevelsforGTEBORG 21888-802-0403newshippingcapacityreachedmuch longer, they are unlikelyHAMBURG 13 17 15 22 Logisticsarecordofabout3.5millionto plummet, said Steve Saxon,LE HAVRE17 866-821-7449twenty-footcontainerssofarpartneratMcKinsey&Com- LIVERPOOL 9 13 Credit & Collectionsthisyear,exceedingtheprevi- pany, speaking at the same con- LONDON GATEWAY20 19 888-225-7747ous high from 2007, accordingference.PeoplearegoingtoROTTERDAM11 20to Drewry. continue spending on goods and Asset prices have doubledservices, we dont see this drop-insixmonths,ZhaoYang,ping off, he said. Ship owner says commodity freight rates (MOSTcontinued fromdwindle and demand for tankersclose to going parabolicpage 22) grows,ParetoSecuritiesana-Golden Oceans chief executivelysts including Eirik HaavaldsenAnownerofcommodityinterview. I think were gettingfleet handles about 80% of the officer Ulrik Andersen said ear- wrote in a note to clients. hauling freighters said rates forclose to that period. worlds traded goods.lier this month. Butfornow,thetankerthe ships are close to the point ofContainer rates have climbedWith more than 5 billion tons market remains the only blot forspiking sharply higher and mir- because of snarled supply chainsof dry commodities moved each T AnkerD olDruMs an industry where freight capac- roring an unprecedented surge inand extra trade that have strainedyear in so-called bulkersthings While for many shipping sec- ity ever tightening. The Clark- costs for transporting manufac- thefleetscapacityasecono- likeironore,coal,grains,steel tors COVID has brought a boom,Seaindex,whichtracksdailytured goods. mies emerge from the worst ofand lumbera surge in dry freight for oil tankers it has meant loss- earnings across a diverse rangeSpotratesforcontainerCOVID-19. The boom reachedwouldaffectindustriesthatpro-making trades for much of 2021of shipping sectors has alreadyshipstomovemanufacturedinto every corner of the globalduce and process everything from and owners effectively subsidizingposted its longest run of monthlyproductshavesurgedfor20economybecausemerchantraw materials and crops.the shipment of crude oil. gains on record. straightweeksandnowstand WithOPEC+stillkeep- Those bumper earnings are731% above their seasonal aver-ingachunkofsupplyofflinealso being seen in more esotericageoverthepriorfiveyears, there are too many ships and toomarketstoo.Carcarriersnowaccording to Drewry Shipping. fewcargoes,keepingearningscost the most to hire since 2008.John Wobensmith, the president depressed. That has burned oneRatesforgeneralcargoshipsandchiefexecutiveofficerof of the hottest trades in the sectorwith heavy equipment are alsoGenco Shipping & Trading Ltd., at the start of the yearbullishsurging, adding to a boom thatsaidthatpricestomovecom-oil tankers positions on the hopeisbeingledbycontainerandmoditieswhichhavealready of a summer surge in oil demand. bulk shipping. rallied sharplymay follow.Still, with on land oil inven- ThecharterratesreportedYou do get to a point, and toriesdeclining,analystscon- in containers are crazy and its theyouveseenthisincontainers, tinuetoanticipatearebound.same for dry bulk, said Alexan- where you hit a certain utiliza-Ratescouldbegintomovedra Alatari, a shipping analyst attionrateandyoustarttogo higher in October as stockpilesArrow Shipbroking Group.parabolic on rates, he said in an RatesforgiantCapesize carriers had their biggest single-day surge since 2008, reaching $52,908aday.Wobensmith saiddemandiscurrentlyout-pacingvesselsupply,which will remain low for years with shipyardordersmostlyledby container ships.Earnings remain well below the2008peakinexcessof $200,000adayjustbefore theglobalrecessionhitand Wobensmithdoesntanticipate them to get that high this time around. He also expects the situ-ation to calm down again early next year.(OVERSEAScontinued from page 21)Los Angeles, San Juan, PR as well as Puerto Caldera in Costa Rica.As our export business grew, thecomplexitiesinoursupply chain also grew. At Grupomar, we customs brokers&freight forwarders relyonDachserMexico,asour logistics expert, to help us realize these market opportunities in the www . jfmoran.com: 800.944.1041 North American market, said Mr. Armando Gonzalez, Exports Sales Manager, at Grupomar.'