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Container ship lost 44 containers
The CMA CGM Benjaminn Franklin lost 44 containers at sea due to adverse weather conditions off the coast of South Africa in severe weather on July 9, 2024, during a westbound voyage from Asia to Europe. Another 30 were damaged on the vessel. There were no injuries to the crew, pollution, or damage to the vessel which remained fully seaworthy. After an inspection, it was assessed that all containers lost at sea contained harmless goods and did not contain any dangerous cargo. The company notified the relevant authorities and proceeded to Cape Town for a throughout assessment of the situation and took all relevant and necessary measures to ensure a safe prosecution of the sea voyage.
Mega-container ship too big for shrinking trans-Pacific route
French shipping line CMA CGM SA will no longer run the vessel Benjamin Franklin — the largest container ship to ever call at U.S. ports — between Asia and the West Coast. The ship was replaced with a smaller vessel, the Leo, less than five months into its service on the trans-Pacific route, according to BlueWater Reporting, which tracks ocean sailing schedules. Representatives for CMA CGM didn’t respond to messages Monday. According to documents on CMA CGM’s website, the Benjamin Franklin is now running a route between Asia and Europe, where larger ships are more commonly used. The Benjamin Franklin can carry nearly 18,000 20-foot containers, or TEUs, marking a capacity record when it docked at the Port of Los Angeles late last year. On a second trip to neighboring Long Beach in February, CMA CGM held inaugural festivities. At the time, CMA CGM founder and Chief Executive Jacques Saadé told the crowd that the company was so confident in the U.S. economy and the demand for freight capacity that the carrier planned to launch six more vessels of the same size on its trans-Pacific “Pearl River Express” route. It soon became clear the extra capacity wasn’t needed on the trans-Pacific lane, where a glut of shipping capacity has driven freight rates to record lows. Source: MarketWatch
CMA CGM Cancels West Coast ULCV Service
CMA CGM has confirmed reports that it will not be deploying ultra-large container vessels like the CMA CGM BENJAMIN FRANKLIN on regular trans-Pacific runs. A spokesman for the line cited the "current trans-Pacific market situation" in comments to the Wall Street Journal. Eastbound trans-Pacific spot rates have fallen to $750-$800 per forty-foot unit, roughly half the rate two years ago. CMA CGM is just starting new a carrier alliance with COSCOCS, OOCL and Evergreen, which will begin operations next year (subject to regulatory approval). At least one of these partners – OOCL – has already seen revenue suffer in recent months despite increasing volume, thanks in part to falling rates on oversupplied Asia-U.S. West Coast routes. The addition of six 18,000 TEU vessels calling at Los Angeles / Long Beach would have made the overcapacity problem worse for carriers and alliances, analysts said.
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