Containers

Splash Extra: Boxship tonnage providers under pressure

The troubled state of many of the world’s boxship tonnage providers is the lead story in the May issue of Splash Extra, which launches today.

According to data from Sea-Intelligence, just six carriers – Maersk, Cosco, CMA CGM, Hapag-Lloyd, Evergreen and Yang Ming – have redelivered 430,000 teu of charter tonnage since the end of January.

The change in fortunes is hitting the bottom lines of small and large tonnage providers alike.

Tobias Koenig, managing director at Hamburg-based Lexington Maritime, said a number of tonnage providers would go bust soon.

“For those companies, which have not been restructured yet, this crisis might be the last nail in the coffin. Those who are overleveraged will probably not survive,” Koenig said.

Elsewhere in the 15-page issue there are the regular markets updates and the popular Analyst Abstract pages where the best research reports are dissected.

The main feature this issue looks at the state of the global shipbuilding industry through to 2024 with the very real threat that another 200 shipyards will close in the coming years.

For this month’s special interview there’s an extended chat with Şadan Kaptanoğlu, the president of BIMCO, while on the back page our special correspondent identifies the characteristics needed to become a successful shipping magnate.

Splash Extra serves as a concise snapshot of what is driving the shipping markets, published on the last Wednesday of every month. Priced for as little as $200 per year it is an essential tool for the shipping community to help navigate investment decisions in today’s tricky environment. For more subscription details, click here.

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