Drewry Many exHanjin Ships to Remain Idle for Some Time

first_imgzoom Some five months after the collapse of Korean shipping group Hanjin Shipping, more than two-thirds of all Hanjin-operated containerships remains inactive, according to shipping consultancy Drewry.Although a number of ships was auctioned for a total of USD 460 million so far, Drewry estimates that there remains up to as much as 150,000 TEU of Hanjin-owned ships still for sale.Hanjin’s demise exposed the frailty of container lines in an era of ultra-low freight rates and caused panic among cargo owners with assets aboard their ships. After the logistical chaos has been cleared up, what has happened to those vessels?An immediate impact could be seen on the containership idle fleet, which surged after 98 ships with an aggregate capacity of around 610,000 TEU were suddenly left without employ. The idle fleet went from 904,000 TEU in mid-August to 1.7 million TEU in mid-November.The declining stature of the idle fleet from December onwards is in large part due to some of those ex-Hanjin ships being re-chartered.Four vessels of 15,000 TEU in total have been scrapped, two of which were owned by Hanjin and none older than 20 years, while another 31 ships of 134,000 TEU have found new service elsewhere.Non-operating charterers have managed to find replacement lessors for 30 ships so far. Maersk Line has shown the biggest appetite for the former Hanjin fleet by chartering 11 vessels of 77,000 TEU, the largest being two 13,000 TEU units that were sold at auction to unnamed buyers in December for around USD 131 million apiece, according to unconfirmed media reports. Maersk is deploying the vessels in the 2M Alliance Asia-Europe network.There remain some 63 ex-Hanjin ships with close to 460,000 TEU worth of nominal capacity that are parked up. At least eight vessels should be back on the water fairly quickly.With such a glut of containerships already available and limited demand growth it is debatable just how big a market they can attract even at knock-down prices. The biggest and youngest ships are likely to have the biggest pull, according to Drewry.last_img read more

Republicans boycott Twitter ad spending after McConnell campaign account locked

first_img Tags Comments 14 Trump criticizes ‘censorship’ on social media, SpaceX… Following similar tweets from the House and Senate GOP campaign organizations, the National Republican Campaign Committee joined the ad spending stand-off. “I have directed the @nrcc to immediately halt all spending with @Twitter until they correct their inexcusable targeting of @Team_Mitch. We will stand firmly with our friends against anti-conservative bias,” NRCC director Parker Hamilton Poling tweeted Thursday.Republican lawmakers have accused Silicon Valley giants of bias before. Earlier this week, President Donald Trump, without evidence, accused Google of anticonservative bias in a series of now-deleted tweets.Trump alleged that Google is trying to “illegally subvert” the next election. “All very illegal,” he tweeted. “We are watching Google very closely!”Originally published Aug. 8, 2:44 p.m. PT.Correction, 3:47 p.m.: An earlier version of this story had the incorrect Twitter account that was locked. It was McConnell’s official campaign account. Also, the story misstated the day the account was locked. It was Wednesday. Update, Aug. 9: Adds that Twitter will allow the video, with a sensitive media warning. The Twitter account of Sen. Mitch McConnell’s campaign has since been restored, and the video has been removed.  Win McNamee/Getty Images After Twitter temporarily locked the campaign account of Senate Majority Leader Mitch McConnell, a string of leading Republican campaign committees announced an ad spending boycott against the social media platform. McConnell’s official campaign account was locked Wednesday after his team posted a video of protesters outside his Louisville, Kentucky, home earlier this week.Twitter’s blanket policy bans videos that include violent threats, even from those who receive such threats. The video in question, which also aired on Fox News, featured protest chants calling McConnell “murder turtle,” and shouts from the crowd inciting violence against him. Twitter told CNET in a statement that McConnell’s campaign account was locked because the video “violated our violent threats policy, specifically threats involving physical safety.”McConnell’s campaign account has since been restored.On Friday, Twitter said it reviewed the case more closely after multiple appeals and will allow the video to be visible with a sensitive media warning.”Going forward, the video will be visible on the service with a sensitive media interstitial and only in cases where the Tweet content does not otherwise violate the Twitter Rules,” the company’s communications team tweeted. Going forward, the video will be visible on the service with a sensitive media interstitial and only in cases where the Tweet content does not otherwise violate the Twitter Rules. https://t.co/Cuvh305ERA— Twitter Comms (@TwitterComms) August 9, 2019center_img Now playing: Watch this: Mobile Tech Industry Mobile Apps Digital Media Politics Share your voice 1:23 Twitter Donald Trumplast_img read more