Week 04 Marinesthing Newsletter

Also in this Week’s edition:

  1. Startup Container Line Closes Down After Four Months

  2. Latest & Greatest of the week

  3. Gadget of the week for your next ship (pinky promise, you need this)

  4. Book of the week

  5. Meme of the week

  6. Picture of the week

  7. Job Listings for Seafarers.

Startup Container Line Closes Down After Four Months

The transition to low freight rates has been hard on the small upstart container carriers that launched during the boom times of the late-pandemic era.

Gone are the hefty profit margins of yesteryear, but the high charter rates that newly-minted carriers signed up for are still in effect – and generating enough revenue to pay those rates can be tough now that shipping demand has fallen.

Focus Container Line is the latest of these new carriers to start up and wind down long-haul vessel operations.

The company just launched a new service from Ningbo to New Zealand and Australia on November 4 with a first sailing of the chartered feeder BBC Denmark. The other ship on the rotation, San Giorgio, departed November 19.

Four months later, the company has entered liquidation, and the Australian Securities and Investments Commission has put two independent directors in charge of its assets.

About 100 of its customers’ containers are now tied up at Ports of Auckland alone, according to the New Zealand Herald.

The line’s branded empties are stacked by the hundreds at container depots around Australia and New Zealand, awaiting a new fate, Daily Cargo News reports.

As of Sunday, San Giorgio was still under way, carrying Focus’ cargo northbound through the Philippines towards China. BBC Denmark was also under way, bound for the small port of Gladstone, Queensland.

The business model for an aspiring new container line made sense in 2021-22, when capacity on established ocean carriers was tight and customers were willing to pay top dollar for expedited service.

However, the cyclical industry has entered a slowdown, and marginal players are getting pushed to the side.

Allseas Global Project Logistics, founded in early 2022, folded in October and now owes its creditors at least $70 million, according to The Loadstar.

Asian carrier China United Lines (CU Lines), which decided last year to charter container ships and jump into the Asia-Europe trade, has announced early termination for 12 panamax boxships owned by Antong Holdings.

Latest and Greatest of the Week

94 ft Yacht Pumps Out Diesel Into The Honolua Bay During Salvage Operation

Enraged community members say the diesel should have been drained from the ship first, terming it “a major state fail”.

MOL Tests Fuel Made of Cow Manure to Power Coastal LNG Ship

The biogas produced by cattle farmers is about 60 percent methane and 40 percent carbon dioxide.

Shipping Containers With Billions Of Dollars Worth Of Imports Are Stuck At Pakistan’s Ports

An inflation that’s also at the fastest in almost half a century is putting many goods out of the public’s reach.

New Data Reveals Risk of Maritime Incidents in Ports and Terminals

“Many of these risks are out of the port’s control, and they need to be ready to deal with issues as they occur, while also making sure their operations across all facilities are not disrupted,” added Yildiz.

15 Flee From A Cargo Ship In The Baltic Sea After Engine Room Caught Fire

The crew members escaped without injury and got on a nearby vessel named Kairit, safely transporting them to Riga Bay.

Gadget of the Week for all Seafarers

Sign on/ Sign off OR Shore Leave

Carrying essential items is a must and here is an amazing accessory for you to manage all your essential things in one umbrella.

Open it, organize as per your need and enjoy your day without any tension.

Buy it here

Book we are reading this week and you must as a Seafarer

For decades, The One Minute Manager® has helped millions achieve more successful professional and personal lives. While the principles it lays out are timeless, our world has changed drastically since the book’s publication. The exponential rise of technology, global flattening of markets, instant communication, and pressures on corporate workforces to do more with less—including resources, funding, and staff—have all revolutionized the world in which we live and work.

Now, Ken Blanchard and Spencer Johnson have written The New One Minute Manager to introduce the book’s powerful, important lessons to a new generation. In their concise, easy-to-read story, they teach readers three very practical secrets about leading others—and explain why these techniques continue to work so well.

As compelling today as the original was thirty years ago, this classic parable of a young man looking for an effective manager is more relevant and useful than ever.

Found this book here

Contents we have shared this week

Instagram

Meme of the Week

Photo of the week

Cargo "Rio" is a seaport that sank in December 2018 off the shores of the village of Kabardinka in Krasnodar Krai. Currently it is one of the sights of the Moscow Region "Gelendzhik" and a pilgrimage site for Russian tourists.

It is a specialized vessel for bulk cargo transportation (balker). Features and sizes of "Rio": exact length - 146.81 m; side height - 12.2 m; deck width 22.80 m; total height 42 m. The comb screw of a steel giant is 6 m in diameter.


Picture by dobriy_provodnik

Job Listings available

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