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Seaspan Corp and the Freight Industry

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Seaspan Corp. is the worldwide leader in independent container shipping management and ownership. They are dedicated to providing an unmatched level of quality and service to all of their customers. And as part of their dedication, they have now informed that they are acquiring the controlling shares of Greater China Intermodal Investments LLC which is a China-based joint venture with firm Carlyle Group.

This will give the company an even bigger share on the charter market. Julie Steinberg from WSJ writes that this $450 million-dollar deal will bring Seaspan 18 container ships. This would jumpstart into a bigger acquisition strategy. Currently, Seaspan is the world’s largest containership lessor by cargo-carrying capacity. According to Alphaliner, the combination of companies would compose 8% of the market and along with the charter demand, leasing prices will go up.  Adding the revenues of the companies along with the $250 million investment that was infused from Canada’s Fairfax Financial Holdings Ltd., this will give Seaspan the financial advantage and positioning within the freight industry.

The Combined Fleet of SSW and GCI

Seaspan GCI Combined
Vessels (including newbuilds) 94 18 112
Fleet TEU (including newbuilds) 701,900 204,000 905,900
TEU-Weighted Avg. Remaining Charter Period  5.2 years 5.4 years 5.2 years
TEU-Weighted Avg. Vessel Age 6.1 years 2.6 years 5.4 years
Avg. Vessel Size 7,500 TEU 11,333 TEU 8,100 TEU
Future Contracted Revenue (US$) $4.3B $1.3B $5.6B

 

When shipping your cargo always make sure to have the best insurance coverage and policy for your shipment. At Ramon Insurance we provide clients the best rates, services, and coverages every time guaranteed.

By Iris Arden (Ramon Inc.)

Sources: https://www.wsj.com/articles/todays-top-supply-chain-and-logistics-news-from-wsj-1521109811

http://www.seaspancorp.com/press-release-post/press-release-122843/

Hapag-Lloyd Freight Vessel

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After the merger with UASC (United Arab Shipping Company), Hapag-Lloyd has boasted one of its youngest fleets in the cargo industry. The vessels will be dismantled accordingly to the environmental regulations and certified shipyards. The seven-year-old container ships that had a capacity of 4,101 TEU will be recycled in Turkey and in China. The shipyards within Turkey and China are certified to recycle ships in an environmentally friendly manner.

The COO of Hapag-Lloyd said that the recycling of these ships is part of the restructuring project of their fleet. In 2017, the company already had three older vessels from the former UASC fleet that was dismantled in an environmentally friendly manner.

Also, Hapag-Lloyd is now offering a service to the East Coast of Africa for the very first time. They are already demands to Mombasa and Daar-es-Salaam over Jeddah for onward transshipment and local distribution.

They are expecting in April to deploy four vessels each with a capacity of 1,200 TEU in the new East Africa Service. This will be a sole operation.

Senior Managing Director Region Middle East, Lars Christiansen, informed that this would a trade which their customers have wanted the company to serve for awhile now. And EAS will benefit from Hapag-Lloyd’s strong presence in the Middle East and connection to the global network.

No matter where you are located, Ramon Inc. is an International Insurance Brokerage that can provided you coverage anywhere in the world. Freight Insurance, Cargo Insurance, Shipping Insurance is how our clients find us. For more information www.freightinsurancedirect.com

Written by Iris Arden (Ramon Inc.)

Source: https://www.worldcargonews.com/news/hapag-lloyd-to-recycle-more-vessels-49099

The Age of Google

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In the age of the internet there are so many options available for just about anything. As consumers, it is imperative that we do our due diligence and research before making any purchases. For example, you may do research on the company’s history, read product reviews, or ask a friend for a recommendation.

world-of-internetWhen it comes to cargo insurance, the same is true. Many cargo insurance companies advertise on Google; however, Google is not a regulatory body. They are not responsible for whether a company is conducting unlicensed activity or not. More than just seeing a nice ad or a beautifully designed website, it is in your best interest to look past the surface. Here are three questions you can ask to help you identify a quality cargo insurance provider.

  1. Longevity – Do they have proven success and longevity in the industry?

Ramon Inc has been in business since 1982. We insure billions of dollars of cargo each year and work with the world’s highest rated insurance carriers. Our effectiveness in the industry has been proven and stands the test of time.

  1. Customer Service – Are they responsive to your needs?

Ramon Inc is centered around customer satisfaction and making our clients lives easier. With so much to do while running your business, you don’t need another hassle. Our company pioneered the technology that allows clients to issue their certificates online, anytime, anywhere. Additionally, our clients are consistently impressed with our quick turnaround time for any requests.

  1. Licensed – Are they licensed to sell insurance?

Ramon Inc. is licensed every state which includes major states: NY, CA, FL, GA, OH, NJ, MO, MI, NV, MA, PA, CO, TN, IN and other states. It is illegal for any company to sell you a certificate of insurance if they are not licensed. Insuring your cargo with a company who is not licensed is a substantial risk because in the even of claim, you will not be protected under any laws.

The staff at Ramon Inc are experts in the cargo industry. Contact us today and we would be happy to advise you further.

Written by Iris Arden (Ramon Inc.)