Based on the writings of the Shipping Herald, Crowley Maritime Corporation, a U.S.-owned and operated marine solutions, transportation and logistics company has already completed designs for the ships it plans to build within the framework of containership newbuilding programme.
The company is providing services in domestic and international markets through six operating lines of business: Puerto Rico/Caribbean liner services; Latin America liner services; logistics; marine contract solutions; deep sea petroleum transportation; and petroleum transportation, distribution and sales in Alaska and is interested in vessels up to 1,400 teu, which would be deployed both on international and domestic routes.
Even though Crowley wanted to launch building of the vessels last year, the situation on the market started changing. Namely container trades deteriorated in addition to yard prices, which are predicted to continue falling.
Therefore, before embarking on a considerably high investment project, worth hundreds of millions of dollars, the company decided to play it safe.
Chairman and chief executive of the company, Tom Crowley while commenting on the plans said that in anticipation of the stabilization of the ongoing developments on the market, the company “decided to hold back”.
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World Maritime News Staff, April 3, 2012; Image: Crowley Maritime