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Container Shortage in Asia
The Asia market has seen a large increase in container transport traffic in 2010, such that there is a shortage in containers in the Asian market. The largest freight carrier is working on alleviating the shortage by both building more containers and shifting containers from the US-Europe sector over to Asia. On top of that, surcharges are being put on containers in the Asian market to take advantage of the shortage.

The increase in traffic from Asia has caught the shipping industry by surprise, as the first part of 2010 has seen a 27% increase in traffic when single-digit increases were expected. Such increases might not be sustainable, especially if the decline in the Euro due to the financial difficulties in Greece, Spain and other Eurozone countries makes Eurozone exports more attractive.

However, the authoritarian nature of many Asian producers, especially China, may make them a more reliable supplier of goods compared to Europe, especially as general strikes roil Europe as countries have to trim wages, add hours to the workweek and push back retirement ages in order to balance budgets. A declining Euro might give producers there an advantage, but the chaotic democracies of Europe may not be able to deliver as well as less-democratic areas like China, Singapore and Malaysia.

For now, business is booming in Asia, which will be good news for west coast ports in the US, as they will be the first stop for much of that Asian traffic that is bound for North American markets.
Posted on 08 Oct 2010 by Momentum
Peru LNG delivering LNG to Canaport
South American-based ocean freight carrier of LNG freight Peru LNG is currently engaged in transporting gases on a new trade route for LNG carriers. Sources indicate that the 173,000-cbm ocean LNG carrier Barcelona Knutsen might be somewhere between Peru and Repsol's Canaport facility on the east coast of Canada, right about now. The Barcelona Knutsen was recently delivered by South Korea's Daewoo Shipbuilding & Marine Engineering and was loaded with her first eastbound LNG export freight, before meeting the Peruvian President, Alan Garcia, during a special dedication ceremony to mark the occasion of the Barcelona Knutsen's arrival and departure with her first LNG load bound for the east coast of Canada.

After meeting President Garcia the Barcelona Knutsen traveled around Cape Horn on a journey that according to sources should take about 30 days, which would mean Peru's first ocean freight carrier load of LNG freight could have arrived in Canada by now.

In fact, the LNG loads that will be offloaded in Repsol's Canaport facility were originally slated to be transported to Mexico's westcoast LNG terminal at Manzanillo. Accept that work on the Manzanillo terminal isn't completed and the terminal isn't ready to receive the LNG freight, which means they had to find another LNG terminal for Peru's LNG freight, and the Canaport facility was the lucky terminal. In the future Repsol could even feasibly transport Peruvian LNG freight to Europe, the Far East, and once the Panama Canal expansion is completed, sometime around 2014, Repsol can begin sending its ocean freight carriers of LNG through.
Posted on 07 Oct 2010 by Momentum

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