YOU & ME 陽 明 月 刊 102 2015.06 Publisher : Frank F. H. Lu Editor-in-Chief : T. P. Chu Managing Editor : Rita Chang Executive Editor : Laney Shih English Consultants : Shih-chi Chen Service Update YM Launches South East Asia 5 Service Yang Ming Marine Transport Corp. (YM) is to launch South East Asia 5 service (dubbed SE5 service) effective on June 22nd, 2015. SE5 service will be jointly operated by YM and Regional Container Lines (RCL) with two container vessels of nominal 1,200TEU1,500TEU capacity. The rotation of SE5 service is Bangkok, Singapore, Belawan, Port Kelang, Singapore and a round voyage will take 14 days. YM has been deploying 5 loops of feeder services, and continues enhancing its South East Asia feeder network to offer customers more convenient services. Group Insight Yang Ming Receives Port Metro Vancouver Award Yang Ming received the “2014 Blue Circle Awards” from Port Metro Vancouver. The award ceremony was held on June 2, 2015 in Vancouver Convention Centre, and Mr. Lance Lin, General Manager of Yang Ming Canada, attended the ceremony on to receive the award on behalf of Yang Ming. The Blue Circle Awards is recognition of the highest level of participation in the EcoAction Program implemented by Port Metro Vancouver since 2010. The program promotes attainable emission reduction goals for ocean-going vessels that enter Port Vancouver, and rewards those who excel in environmental stewardship. Yang Ming has always striven for environmental protection. Our vessels and terminals promote energy-efficient and eco-friendly transports to fulfill our responsibility as a world citizen. This award reflects Yang Ming Group’s commitment to environmental protection, and will further enhance Yang Ming’s corporate image in global market. Yang Ming’s New Image Advertising Yang Ming delivers goods to make you enjoy a happy life The new design for Yang Ming’s 2015 image advertising uses Yang Ming’s first 14,000 TEUs “YM WISH” through the computer screen, which displays strengthened management system and upgraded service quality. We stand by everyone and carefully carry all kinds of goods to make people enjoy a happy life. Marine transportation is not only a business but also part of our lifestyle. Based on this concept, YM WISH delivers technology, fashion products and so on. These are testimonies of close relationship between happiness and marine transportation. Announcement of YMA HQ Office Relocation We are pleased to announce that Yang Ming (America) Corp. Headquarters in Jersey City is moving to One Newark Center, 1085 Raymond Boulevard, Ninth Floor, Newark, New Jersey 07102, effective from June 22, 2015. Yang Ming (America) Corp. One Newark Center 1085 Raymond Boulevard, 9th Floor Newark, New Jersey 07102 Our Corporate Headquarter phone numbers and E- mail addresses will remain unchanged. Should you have any questions about our relocation or our new facility, please feel free to contact your local YMA representative.We look forward to serving you from our greatly improved office surroundings. Please note this is only a YMA HQ Jersey City office relocation. All other mailing addresses for Ocean Freight Payments and Customer Services remain unchanged. Industry Updates I. Industry Update: Orson Wu, PLGD, YMHQ A. Overall Demand/Supply Forecast Recent mainlane trade indicators have been painting a confusing picture regarding the direction of trade growth in full year 2015. Whilst box trade growth figures on the peak leg mainlane trades of the Far East-Europe and the Transpacific were negative in March, there is no consensus on the longevity of this period of weakness. Whilst initial data points for April look less weak than those for March, projections for volume expansion on the peak leg mainlane trades in 2015 have been revised downwards slightly in order to reflect this uncertainty (see page 12). Global box trade is expected to expand by5.8% in 2015, reaching 181m TEU, before growing by 6.4% in 2016. Overall container capable supply is currently expected to expand by 6.3% in2015. However, the pace at which containership capacity is being delivered is set to slow in 2016, with container capable growth expected to reach 4.3%.Robust growth in the fleet 2012 2013 so far in 2015, particularly in the very large sizes, has contributed to significant downward pressure on box freight rates. Operators are expected to find it very challenging to support mainlane freight rates during the remainder of 2015, as they battle to limit the impact of capacity growth. Meanwhile, the charter market appears to have benefited from a slowdown in key parts of the ‘cascade’. Fundamentals in the charter market have also improved as a result of contraction in the charter market fleet. A limited idle fleet, of around 1.9% by early May, also indicates the tighter market environment. These trends looks set to hold, although in the longer-term, a sustained period of weakness in the freight market could pose a threat to further improvements in charter vessel earnings. (Quoted from Clarkson, Container Intelligence Monthly, April 2015) 2014 2015 2016 Demand 3.1%(±0.0) 5.0%(-0.1) 5.3%(-0.1) 5.8%(-0.2) 6.4%(-0.1) Supply 4.9%(±0.0) 4.7%(±0.0) 5.6%(±0.0) 6.3%(+0.1) 4.3%(+0.3) Balance -1.8%(±0.0) 0.3%(-0.1) -0.3%(-0.1) -0.5%(-0.3) 2.1%(-0.4) note: 1. Blue – upward amendment compared with last projection 2. Red – downward amendment compared with last projection source:Clarkson, Container Intelligence Monthly, Apr 2015 B. Trade Analysis and Statistics ■ Drastic measures needed to halt Asia-Europe rate collapse ✽Freight rates on the Asia to Europe route have dropped to their lowest levels on record as carriers face off in a damaging rate war amidst weak vessel utilisation. The SCFI spot rates from Shanghai to North Europe reached an all-time low of $243/ teu on 12 June and could fall further with rates as low as $150/ teu reportedly offered by carriers. Current spot rates are well below breakeven levels, estimated at about $800/teu based on Alphaliner’s calculations. Effective freight rates, after deducting fuel surcharges, are now negative for carriers with BAF (bunker adjustment factor) averaging $337/teu in June. ✽T he widespread practice of void sailings has proven to be ineffective so far. Carriers have cancelled 52 voyages or 10% of all Far East to North Europe sailings during the first six months of this year, the highest rate of sailing cancellations ever recorded on the trade. Despite this, carriers’ reluctance to permanently withdraw excess capacity have foiled all of their previous rate restoration efforts. ✽The capacity on this ‘2M’ service, branded 'AE-9' by Maersk and 'Condor' by MSC, will be slashed from 9,500 teu to 6,500 teu through a replacement of the 9,500 teu-class ships currently plying the service, and the removal of existing wayport calls on the Mediterranean. The move, to be implemented by August 2015, is part of a revamp of the 2M Asia-Europe network which is expected to affect all six of its FE-North Europe strings and five 13,800 and 19,000 teu are still due to join the FE-Europe trade in FE-Mediterranean strings, with details currently being finalised the coming six months. and to be announced later after receiving regulatory approvals. ✽With cargo demand to Europe expected to remain weak for the rest of the year, there needs to be more drastic capacity cuts. The best way to achieve this is for each of the four alliances to share equally the burden of reducing overall capacity by removing the smallest loop from each of the four alliances. This would entail the suspension of the AE-9/Condor by 2M, the FAL3/ AEC7/AEX4 by O3, the NE8/CES by CKYHE and Loop 1 by G6. Such a move would remove a total of 39,000 teu each week, representing 14% of the current FE-North Europe capacity. ✽Carriers’ failure to take such drastic measures now would have significant negative repercussions, especially since some 25 new ships of between Source: Alphaliner Newsletter ■East-West Trade Capacity Deployment (Last 12 months) ■Only a slight change occurred in the idle fleet during the end of May. The portion set around 1.8% of total fleet. Source: Alphaliner Monthly Source: Alphaliner Monthly II. World Economy: ■Composite leading indicators point to growth convergence in most major economies ■In the latest statistics, there is a slight boost in manufacturing sector in the US whilst a sudden fall appears in the nonmanufacturing sector. The readings in both sectors in Eurozone and China keep flat, showing an uncertainty after/before major financial policy implementation. Source: Institute for Supply Management (ISM); Markit Economics; China Federation of Logistics & Purchasing (CFLP) Personnel Updates 姓名 Name Original Position 莊錦芳 Amber Chuang Senior Manager 陳彥邦 Ted Chen Senior Manager 張聖怡 Andy Chang Deputy Manager 邱鈴雅 Lilian Chiu 莊雅雯 Jenny Chuang 陳威宇 W.Y. Chen 慶裕君 Ann Ching PLAS YM HQ New Position Effective Date Senior Manager PLAS YM HQ 2015/6/1 Senior Manager PLEA YM HQ 2015/6/1 BBRS YM HQ Senior Manager BBRS YM HQ 2015/6/1 Manager PLGD YM HQ Acting Manager PLGD YM HQ 2015/6/1 Manager PLDS YM HQ Acting Manager PLDS YM HQ 2015/6/1 Young-Carrier Company Ltd. (Xiamen) 2015/6/1 Parental Leave 2015/6/12 Team leader of PLDS YM HQ PLGD YM HQ Team leader of PLEA YM HQ TTDP YM HQ Manager GMCC YM HQ Enchanting Bridges-Yang Ming Photo Contest on World's Classic Bridges Winning Entries Photo Works No 21. Theme : Magpie Bridge Name: Hou, Wen-Tsai Award: Excellence Entry Group: Bridges of the Taiwan Group Name of the Bridge: Heart of Love River Bridge Location (Country/ City): Gushan District, Kaohsiung City Yang Ming 5th International Adolescents Painting Competition Winning Entries Painting Works No 4. Theme: Life in a Fishing Village Award: Gold Medal Name: Kelvin Lee Khai Ming Country: Malaysia Age: 15 Comments: The artist used light and transparent colors and the wash technique to portray a fishing village. The composition and the use of color are equally outstanding. This is an excellent masterpiece. New Elegance with Original Beauty Jade Art No.102 Title: Phoenix and auspice The materials: Old white jade of Ming Dynasty, ruby, 18K white/rose, diamond, emerald. Description: This is a Ming dynasty hollowed-out carving featuring a pair of phoenixes and a peony flower. The jade is fine and workmanship is marvelous. The original measures 5cm-by-5cm. Designer's philosophy: The pattern of two phoenixes embracing a peony flower is a symbol of great wealth and nobility. The K-white/rose, diamonds and gemstones around are like gorgeous bouquets of flowers. It looks all the more beautiful and elegant by the addition of an emerald pendant with tussles. Art designed by Rita Chang, GCIS, YMHQ
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