ZIM - light at the end of the tunnel

Zim reported positive earnings (EBITDA) for 2012 compared to losses in 2011. The modest turn around still represents a significant loss to shareholders. A much smaller player than the Maersks and and Hapags of the word, Zim is still an important Halifax customer.

1. Zim Panama arrives this afternoon.

Zim had to cancel a number of ship orders and take penalties, and defer other orders for several years up to 2016. Freight rates were up a bit too, which helped the bottom line. Zim has also made agreements with the banks to reschedule debt, and will submit a 5 year plan by April 30.

Busan Express - new to Halifax

1. Maersk Pembroke and Zim Panama at Halterm on Saturday- the pier was working flat out.

Both container piers in Halifax are scrambling with extra traffic brought on by the effects of storm Sandy in the ports of New York/ New Jersey. Both Fairview Cove (Cerescorp) and Halterm have been inundated by extra traffic from ships that could not berth in NY/NJ or diverted because of the effects of the storm.

2. Busan Express arrived this morning at Fairveiw Cove, followed by Atlantic Concert

In all this bustle there was also the arrival of Busan Express, a new to Halifax post-Panamax container ship. Until now Hapag-Lloyd has been using OOCL's post-Panamax ships (some renamed to Hapag names), but this may be the first in Hapag colours. Built in 2004 by Daewoo, in Koje, South Korea, it is a 75,590 gross tons/ 85,810 deadweight tonnes ship with a capacity of 6,750 TEUs. This puts it at slightly larger than the OOCL class of post-Panamaxes.

3. Atlantic Concert sails up the Narrows this morning bound for Fairview Cove.

4. Italy Express sails Friday as OOCL Antwerp gets underway from anchorage to go into Fairview Cove.

5. OOCL Antwerp sails on Saturday.

Full House at Halterm

1. Zim Panama readues to turn to tie up at pier 41.

2. Maersk Penang follws for pier 42.

It was a full house at Halterm today, with Oceanex Sanderling arriving first at pier 36. (With her mid-week visit, she is one day ofgf her normal Friday call.)

Next up was Zim Panama slipping in to pier 41. Flying the UK flag, she is a 53,433 gross tons ship, built in 2002 at Hyundai Heavy Industries in Ulsan. She carries 4839 TEUs.

Patiently waiting her turn was Maersk Penanag. Flying the Singapore flag, she is a 31,333 gross tons ship built in 1998. She was formerly the P&O Nedlloyd Jakarata until 2006 when Maersk took over PONL. Despite her oriental influences, she was built by Kvaerner Warnow Werft in Warnemunde, Germany, and carries 2890 TEU, off swhich 400 can be reefers.

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