Global Shipping Sinking Fast - Stories

[Disco_Destroyer]

Global Shipping
Sinking Fast - Stories
12-22-8
http://www.rense.com/general84/dm.htm

Shipping Crisis Worst In Decades
http://www.farminguk.com/news/Greece-Shipping-crisis.9392.asp

Lenders Pull Plug On Shipping Sector
http://www.gulfnews.com/business/Shipping/10269062.html

Container Firms Close More Service To US, Euro
http://www.livemint.com/2008/12/21225249/Container-shipping-firms-clos e.html?h=B

Bleak Future For Shipping
http://www.thestatesman.net/page.news.php?clid=6&theme=&usrsess=1&id=2 37052

Japan Shipbuilding Drops 83%
http://www.etaiwannews.com/etn/news_content.php?id=819170&lang=eng_new s

India Shipping Industry Demands Govt Help
http://www.etaiwannews.com/etn/news_content.php?id=819170&lang=eng_new s

[TonyGosling]

Suez Canal hit as CMA CGM considers bypass plans
http://lloydslist.com/ll/news/suez-canal-hit-as-cma-cgm-considers-bypa ss-plans/20017612327.htm
Janet Porter - Tuesday 27 January 2009

FRENCH carrier CMA CGM is drawing up plans to bypass the Suez Canal on a long-term basis and divert all appropriate sailings round the Cape of Good Hope because of the huge cost savings.
Two weeks after re-routing the eastbound leg of the FAL2 Asia-Europe service, which is operated in partnership China Shipping Container Line, CMA CGM is now considering a far more radical network shake-up, chief executive Farid Salem revealed today.

Other loops that may take the longer route in future include the Epic service from Europe to India and Pakistan, and the Nemo service to Australia.
Re-routing the 9,400 teu vessels deployed in the FAL2 service produces savings per ship of around $330,000 a sailing, said Mr Salem. That adds up to $17m a year. CMA CGM and China Shipping contribute four ships each to the service, while a ninth was recently added to compensate for slow steaming.
The two lines are now considering whether to divert headhaul westbound FAL2 sailings as well..........
http://lloydslist.com/ll/news/suez-canal-hit-as-cma-cgm-considers-bypa ss-plans/20017612327.htm

[TonyGosling]

Asia-Europe services cut by a quarter
http://www.lloydslist.com/ll/news/asia-europe-services-cut-by-a-quarte r/20017613601.htm
Janet Porter - Friday 30 January 2009
CONTAINER lines serving the Asia-Europe trades have cut the number of ship loops by more than a quarter in recent months as the economic recession takes its toll on world trade.
The latest string to be removed is the Grand Alliance’s EU5 service, which is being suspended for at least five months with immediate effect.
Member lines Hapag-Lloyd, NYK, OOCL and MISC said this would remove about 12% of capacity from their Asia-Europe network of services.
The weekly rotation consists of eight ships with average capacity of 3,300 teu.
However, the consortium has not yet decided whether to follow a number other carriers and reroute certain eastbound services around the Cape of Good Hope in order to save money and absorb some spare tonnage.
“We are considering everything at present,” a spokesman said.
The latest withdrawal brings to around 17 the number of Asia-Europe services suspended since October when the downturn began to accelerate. ...
http://www.lloydslist.com/ll/news/asia-europe-services-cut-by-a-quarte r/20017613601.htm