Shipping Companies See No signs of China Exports Uptick

choi

Colum Murphy, Shippers' Gloom Tells a Different Story on Exports From China. Wall Street Journal, Jan 24, 2013.
http://online.wsj.com/article/SB ... 59310406370662.html

Quote:

"The parent [of OOCL] said on Tuesday its container-shipping trans-Pacific services volume fell 6.8% in the fourth quarter compared with a year earlier. Volume on Asia-to-Europe services grew 2.8% compared with the year-earlier quarter.

"Chinese exports [officially] in December grew a surprising 14% year-on-year compared with modest growth of 2.9% in November. * * * But many analysts believe the export numbers overstate the gain, and say the latest figures are influenced by exceptional factors such as backlogs caused by port strikes in the US. * * * Both China's Commerce Ministry and customs officials defend the [official] figures

Note:
(a) Orient Overseas Container Line
http://en.wikipedia.org/wiki/Orient_Overseas_Container_Line
(OOCL; founded by C Y Tung [Chao Yung TUNG 董兆榮; better known as 董浩雲; 1912-1982] In 1947)
(b) There was a prt strike in Los Angeles/Long Beach ports of California from late November to early December, 2012. The imminent port strike in east coast was called off on Dec 28, 2012.

choi

(1) Inti Landauro, Meet the World's Largest Cargo Ships; Giant vessels cruise at lower speeds to save costs as companies work to offset declining fares. Wall Street Journal, Jan 8, 2013.
http://online.wsj.com/article/SB ... 28002258742618.html

Quote:

"The new Marco Polo ship [of CGM CMA] can load more than 16,000 containers and reach a speed of 24 knots[, a speed while plying China-to-Europe route]. After a recent stop in this Belgian port city, however, she is cruising back to China at 14 knots. * * * [Shippers] are racing to operate the biggest-possible ships so they can benefit from economies of scale, and run them at moderate speeds to save on fuel costs. * * * The Marco Polo trumps Maersk Line's Emma Maersk and her seven sister ships, which can carry 15,550 standard 20-foot containers

"The Marco Polo will lose her crown as the world's biggest container ship in just a few months, when rival Maersk puts into service the first of 20 ships [of Triple E class, built by Daewoo] it has ordered, capable of carrying 18,000 containers each.

"Mega-ships can be powerful weapons when it comes to winning market share: Their operating costs per container are about 10% lower than those of smaller vessels, according to Charles W Clowdis, a transportation analyst with IHS Global Insight, a consulting firm.

Note:
(a) CMA CGM
http://en.wikipedia.org/wiki/CMA_CGM
(a French container shipping company; is the third largest container company in the world; Its headquarters are in Marseille,[2] and its North American headquarters are in Norfolk, Virginia; Compagnie Générale Maritime (CGM) was founded in 1855, Compagnie Maritime d'Affrètement (CMA) was created in 1978 and acquired the former)
(b) Emma Mærsk
http://en.wikipedia.org/wiki/Emma_M%C3%A6rsk
(launched in 2006; The ship is named after Emma Mærsk, Mærsk Mc-Kinney Møller's late wife)

* Mærsk Mc-Kinney Møller
http://en.wikipedia.org/wiki/M%C3%A6rsk_Mc-Kinney_M%C3%B8ller
(full name: Arnold Mærsk Mc-Kinney Møller; 1913-2012; son of a Danish father, Arnold Peter Møller – founder of the AP Moller – Maersk Group;  

(2) Laurie Burkitt and Josh Chin, A Retailer Discovers China's New 'It' Girl: Grandpa; Retired farmer becomes fashion sensation; He's 5-8, thin and looks great in crimson. Wall Street Journal, Jan 9, 2013 (front page)
(LIU Qianping 刘 谦平 [also known as 麻爹嘎嘎 MaDiGaGa], a 72-year-old farmer fromcentral Hunan, "owes his star turn to his granddaughter, LU Ting 吕 婷, a clothier [based in Guangzhou] who struggled for months to find a model who could boost her online store without breaking the bank")

My xcomment: There is no need to read the rest.