News / Peak season demand reduces laid-up container tonnage to two-year low

first_img© Kok Keong Ng Indeed, there are now no spot vessels available of 12,000 teu and over, and of the six showing as available in the 7,500-11,999 teu range most are expected to be deployed in the coming weeks to meet a strong peak season demand.Even the unemployed pool of classic 4,000 teu panamax vessels is shrinking after new services between Asia and West Africa reduced the number of ships seeking employment to 19, from 25 a fortnight ago.And demand in all sectors is expected to remain strong next month, ahead of Chinese national holidays in the first week of October.As a consequence, daily hire rates have improved for non-operating containership owners; although they “still fail to impress”, said Alphaliner, adding hire rates were only rewarding for owners that had purchased tonnage at “broken prices”.Meanwhile, after a dip in activity in recent months, the demolition market is said to be “firming quickly”. London-based shipbroker Braemar ACM reports Indian breakers are prepared to pay as high as $425/Ldt for container vessels that might previously have only commanded $300. The 1998-built 2,226 teu geared ER Hamburg recently sold, basis delivery Alang, for $420/Ldt.The improved rate for recycling could reignite the interest of shipowners frustrated by the failure of charter rates to return to levels that at least cover operating costs, even with the strong demand.After a very bullish start to the year, which threatened to overtake the 2016 all-time scrapping record of 660,000 teu, the demolition market slowed markedly in the summer as shipowners were encouraged by the prospect of employment in the charter market.According to the latest data from Braemar, the demolition total for this year so far is some 345,000 teu for 118 vessels. This compares with 102 for 350,000 teu scrapped in the same period of 2016.The outlook for the demo market, charter market, container freight rates and, indeed, the profitability of ocean carriers will hinge on the strength of demand after the Chinese holiday. By Mike Wackett 31/08/2017center_img Ocean carriers have raided the idle containerships fleet to bolster their peak season offerings, reducing the cellular capacity of vessels in lay-up to a two-year low.According to Alphaliner data, capacity in hot or cold lay-up has fallen sharply in past weeks: by 94,000 teu in 14 days to 151 ships for a capacity of 377,925 teu as recorded on 21 August.This represents just 1.8% of the global containership fleet and includes vessels that await scrapping.The analyst attributes a spike in charter activity to “buoyant demand across all trades, including north-south routes”.last_img read more

Boy With Autism Helps Save Mom in Labor (Video)

first_imgAddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMoreOn the first day of April, which is “Autism Awareness Month”, an eleven year-old Salt Lake City area boy reacted to an emergency with mature awareness, despite his autism. He found help for his mom in the nick of time. AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMorelast_img read more

Borough Tallies 2015 Tax Foreclosure Auction

first_imgMayor Navarre: “They have that option prior to foreclosure, prior to the actual sale taking place so a number of those, 18 of them were repurchased prior to sale. There were six parcels retained by the borough, one was conveyed to the City of Kenai and one was conveyed to the City of Homer because they had a public use or a need for them. The total proceeds resulted in $381,000 that was recovered.” The remaining excess funds obtained from the auction are returned to the previous recorded owner of the parcels sold. FacebookTwitterEmailPrintFriendly分享If your property sold at the Kenai Peninsula Borough’s 2015 Tax Foreclosure Auction, you might be getting a notice to collect excess funds. The borough keeps funds from the auction for two reasons: to recover the tax amounts owed to the borough on the collective parcels and to cover the event costs for 2015, which totaled over $6,400. Of the 42 not repurchased by the owner, 34 were sold on October 24, recovering $78,742 in unpaid real taxes for the borough. Borough Mayor Mike Navarre says a portion of the properties originally up for auction were repurchased by the original owners for the taxes owed. The borough will notify the previous record owners of any parcels sold of their right to claim the proceeds.last_img read more