The accident history of ship that crashed into Baltimore bridge
28.03.2024
The 10,000 TEU container vessel Dali that hit Francis Scott Key Bridge in Baltimore has been involved in another shipping accident back in 2016.
In particular, the boxship smashed into a quay at the port of Antwerp in Belgium on 11 July 2016, as it was exiting the North Sea container terminal.
The Antwerp port authorities said the vessel had remained at the dock for repairs for some time after the incident.
The Antwerp accident happened due to a mistake by the Master and pilot on board the vessel, according to VesselFinder reports.
As is evident, Dali's latest accident is notably more severe, likely resulting in fatalities and expected to cause significant challenges to the global supply chain.
Etihad Cargo and Astral Aviation launch first Nairobi-Abu Dhabi flight
25.03.2024
Etihad Cargo and Astral Aviation announced the successful completion of their first flight from Nairobi, Kenya, to Abu Dhabi, UAE. Following the memorandum of understanding (MOU) signed between the two carriers, the event marks a new era of connectivity between the Middle East and Africa.
The inaugural flight is part of a broader capacity-sharing agreement offering Etihad Cargo’s partners and customers increased cargo space on Astral Aviation’s weekly flights from Nairobi to Abu Dhabi.
Yang Ming vessel knocks over three cranes after hitting Turkish wharf
19.03.2024
A ship operated by Yang Ming Marine Transport slammed into a wharf in Turkey’s Evyapport on 16 March, while attempting to dock.
The 2015-built 14,000 TEU ship, YM Witness, chartered from Seaspan Corporation, reportedly knocked down three container cranes in the accident.
YM Witness, assigned to Yang Ming’s MD3 Asia-Mediterranean service, had arrived from another Turkish port, Ambarli, had a pilot on board and was trying to berth around 3.45pm local time when the accident happened.
Video footage taken by port staff shows that after the paddle wheel of the YM Witness hit the wharf, a crane swayed to the right, and collapsed after hitting another crane. As the first crane fell to the ground, it hit a second crane.
Reportedly, a worker operating one of the cranes was injured in the accident. Evyapport officials said that several containers on YM Witness also fell into the waters.
The damages are estimated to be in the region of US$50 million.
Information from VesselsValue shows that since its delivery, YM Witness has been on a 10-year charter to Yang Ming.
As of today (19 March), YM Witness remains anchored in Turkey’s Yarimca port pending investigations and repairs.
In a customer advisory issued on 18 March, Yang Ming confirmed the accident occurred and said that the rescheduling of ships and cargo transfers would be made in due course.
The Taiwanese shipping line stated, “Whereas navigational behaviour and seamanship are under the supervision and management of the ship owner, administrative enquiries and a full investigation into this incident are currently conducted in conjunction between the ship owner and the relevant maritime authorities. According to the ship owner, there are no casualties following the incident and no marine pollution has materialized for the time being.”
OCEAN Alliance rolls out new service network
15.03.2024
OCEAN Alliance, consisting of CMA CGM, COSCO, Evergreen and OOCL, has announced the launch of its updated service network, called "DAY 8 Product".
After extending their partnership for an additional five years, the four ocean carrier allies are unveiling their new programme aimed at tackling the emerging challenges posed by the volatile conditions in the Red Sea.
The DAY 8 Product, which is expected to commence in April, will include:
The deployment of 321 container ships, including 119 vessels for the CMA CGM Group
35 services worldwide
A total capacity of approximately 4.5 million TEUs
The OCEAN Alliance DAY 8 Product will offer the following services from/to Asia:
6 services between Asia and Northern Europe
4 services between Asia and the Mediterranean
20 Transpacific services - 8 between Asia and the East Coast of the United States and 12 services between Asia and the West Coast of the United States and Canada
2 Transatlantic services connecting Northern Europe to North American ports
3 services between Asia and the ports of the Persian Gulf.
At the same time, the OCEAN Alliance will suspend its two services connecting Asia to the Red Sea until further notice due to the unstable environment in the region.
Red Sea challenges boost charter rates
11.03.2024
Analysts and brokers are continuing to report charter rates spiralling upwards as carriers look to plug gaps in their diverted Asia to Europe services as rates, which were falling decisively in early December, make a rapid rebound.
Linerlytica’s charter index increased 5% last week with the larger sizes getting the biggest boost as supply was limited.
“Maersk and CMA CGM have been particularly active in recent weeks, along with smaller carriers such as SeaLead and Tailwind that have been keen to secure additional tonnage for their Med routes,” said the analyst.
Meanwhile, London-based shipbroker Braemar reported a 46% increase in its container charter market index, Boxi, since mid-December when the Houthis first began missile attacks against international shipping in the Red Sea, Bab al-Mandeb and Gulf of Aden.
According to Braemar, carriers have scrambled to deploy tonnage on diverted Asia to Europe services that have been diverted around the African Cape.
Diversions around the Cape require an extra two to three ships forcing lines to vacuum up tonnage to maintain weekly schedules.
As a result, the broker had forecast charter rates to fall to a 70-point low and to average around 80 points in 2024. But as the Red Sea crisis hit the Asia to Europe trade the index did a U-turn recording a steep increase in January from 90 points to around 130 today and still rising.
Braemar commented, “Geopolitics have ambushed our time charter estimates for 2024 and we have had to have a rethink. Instead of an average of 80 points and a low point of 70 points in 2024, the upwardly revised forecast is for an average of 130 / 135 points with a high point of 145 / 150 points.”
Meanwhile, Alphaliner reported that owners and charterers are engaged in a struggle, with owners seeking to close contracts with extended periods, but cautious carriers wary of the volatile nature of the current market conditions and, therefore, looking for shorter deals.
Alphaliner believes the larger vessel market is largely spent now, with no new fixtures in the 7,000-13,000 TEU range, leading to a rapid rise in the medium sized range of 4,000-5,000 TEUs, now stabilising which means that attention has now turned to the smaller vessels.
“In the smaller sizes, the fixing activity was frantic in the past fortnight, especially between 1,000 TEUs and 1,900 TEUs with around thirty fixtures concluded. Fast-expanding SeaLead was one of the busiest market players, fixing seven vessels of 1,700-1,800 TEUs, including several modern ‘Bangkokmax’ units,” said Alphaliner.
Braemar puts this fixture surge into dollars, with its original estimates for this year for an 1,700 TEU ECO-Bangkokmax at US$9,000—US$10,000/day, now revised upwards to US$14,000 to US$15,000/day.
Braemar said the Israel - Hamas conflict is continuing and therefore the Houthi attacks will continue, as seen this week with devastating effects on the crew of the True Confidence.
“We are not political commentators but the chances of the Red Sea avoidance situation remaining, perhaps for the whole of 2024 could be a possibility. With this in mind liner companies will be planning well into the future to minimise service disruption.”
As a result, Braemar has revised its estimates on vessel oversupply for 2024 from the expected 19% to 10%, “effectively halving oversupply in 2024”.