ZF Appoints New Board Members
ZF Friedrichshafen AG's Supervisory Board has appointed Sabine Jaskula and Dr. Holger Klein to the company's Board of Management.Jaskula, an experienced HR manager and lawyer, will be responsible for Corporate HR and Legal functions from latest January 1, 2019. In this function, she will also be in charge of compliance. Dr. Klein has been appointed to ZF's Board of Management with effect from October 1, 2018. His responsibilities will include Car Chassis Technology and Aftermarket (service and parts business).
Maersk Line Establishes Commercial Office in Nepal
Maersk Line, the global containerized division of the Maersk Group, announced the commencement of its new commercial office in Kathmandu, Nepal from 1st of June this year.Maersk Line since its entry into the Nepal market over 20 years back has been providing shipping and logistical solutions through its strong network in India. However, with the rapid growth of trade in the region, Maersk Line sees an opportunity to serve its customers better by being closer to them.Maersk Line’s…
Maersk Line Pushes Restart in Maldives
Maersk Line announced it has restarted shipping operations to the Republic of Maldives on the heels of rapidly growing market and meeting customer needs.The world’s largest container shipping company introduced a weekly service between Colombo and Male in an initiative aiming to provide a strategic trade opportunity to countries in South Asia.“Maldives has a flourishing tourism market and offers an excellent opportunity for global trade. Interestingly, around 90 percent of Maldives trade is import driven and spearheaded by China, India and Sri Lanka.
DP World Gross Volume Up 4.8% for 1H 2018
Dubai-based port and terminal operator DP World said that its gross volumes rose 4.8 percent to USD 35.6 billion s for the six months to 30 June 2018, despite uncertainties in the container market. On a reported basis, revenue grew 14.4%.Revenue growth is supported by the volume growth across all three regions and the impact of new acquisitions including Drydocks World LLC (Drydocks), Dubai Maritime City (DMC) and Cosmos Agencia Marítima (CAM).Profit attributable to owners of…
After Soybeans, EU Touts US LNG Imports to Woo Trump on Trade
The European Union said it was delivering on a deal with U.S. President Donald Trump to buy more U.S. liquefied natural gas (LNG) on Thursday but called on Washington to do more to make its prices competitive.In talks to urge Trump to drop hefty new tariffs last month, the EU's chief executive Jean-Claude Juncker agreed to work to increase imports of U.S. soybeans and LNG to the bloc.The EU has long worked to diversify away from relying on Russia for almost 40 percent of its gas needs by developing LNG infrastructure to access other suppliers like the United States.Whether U.S.
ZIM Annouces New Asia - America Network with 2M
Zim Integrated Shipping Services (ZIM) has announced the new Strategic Partnership Agreement with the 2M alliance, details of the new improved Asia - U.S. East Coast – Asia network that are now available.Nissim Yochai, ZIM EVP Trans Pacific Trade, said: "The new alignment will enable ZIM customers to enjoy the best of both worlds: ZIM’s highly reputed personalized service, along with the best-in-market infrastructure and product.”The new upgraded network includes 5 services under the ZIM+2M cooperation…
India to Probe Subsidized Stainless Steel Imports from China
India has launched an investigation into subsidized production and export of welded stainless steel pipes and tubes from China and Vietnam, an official notification said.The Directorate General of Trade Remedies, which falls under the trade ministry, said there was "prima facie" evidence of subsidies that were hurting the domestic industry."The authority finds that there is prima facie evidence of existence of countervailable subsidies on production and export of the subject goods in People's Republic of China and Vietnam, and such subsidized imports are causing material injury to the domestic
Indian Ports Register Positive Growth of 4.13%
The major ports in India have recorded a growth of 4.13% and together handled 231.48 Million Tonnes of cargo during the period April to July, 2018 as against 222.29 Million Tonnes handled during the corresponding period of previous year.During this period nine Major Ports - Kolkata (incl. Haldia), Paradip, Visakhapatnam, Kamarajar, Chennai, Cochin, New Mangalore, JNPT and Deendayal have registered positive growth in traffic.The highest growth was registered by Kamarajar Port (12.18%), followed by Cochin (10.30%), Paradip (8.31%), New Mangalore ( 7.88%) and Kolkata [inc. Haldia] (7.74%).
Cepsa, GP Global to Produce Marine Lubricants in India
Cepsa and Global Energy Private Limited (GPGEPL), part of UAE-based global conglomerate GP Global, have announced an exclusive partnership to manufacture and market Cepsa branded marine and power generation lubricants in India.As per the agreement, GP Global will manufacture, package and even import Cepsa branded lubricant products in India.“India is a huge market for port modernization and coastal shipping development. Major initiatives have been taken in this direction by our government.
Cochin Port to Roll-out New Cruise Terminal
A new Cruise Terminal having facilities to handle 5000 tourists will come up at Ernakulum Wharf of Cochin Port, India by February 2020. Cochin Port Trust has issued work order to the contractor today for commencing the construction of the new Cruise Terminal.The facilities inside the Terminal, having 2253sq mtrs area, would include passenger lounge, crew lounge, 30 immigration counters, 8 customs clearance counters, 7 security check counters, Wi-Fi, tourist information counter…
Multi Modal Terminal on Ganga at Varanasi Nearing Completion
The USD 25 mln Multi Modal Terminal (MMT) being built at Varanasi by Inland Waterways Authority of India (IWAI) under Jal Marg Vikas project is set to be completed by November this year. This would be a major landmark for the project.The construction of the USD 41 mln MMT at Sahibganj is to be completed by May, 2019, and the one at Haldia, being constructed at a cost of USD 75 mln, is scheduled to be completed by December 2019. In addition to this the work on the USD 52 mln state-of-the-art navigational lock at Farakka is to be completed By June, 2019.
India Conducts Hydrographic Survey for National Waterway-4
In order to develop waterways from Kakinada to Chenna, detailed hydrographic survey has been completed by the Inland Waterways Authority of India (IWAI) in respect of Kakinada to Ennore stretch of National Waterway-4.Development of National Waterway-4 is planned in three phases. Development of Phase-I works between Vijayawada to Muktyala stretch of Krishna River has been taken up at a cost of USD 14 mln out of which USD 2.62 mln has been utilized so far. Vijayawada to Kakinada and Rajamundry to Polavaram portion of NW-4 is planned for development in Phase-II.
Seaborne LPG Trade Rebounds: Dorian LPG
Seaborne LPG trade rebounded in the second calendar quarter of 2018 thanks to heavy lifting schedules in the Middle East and the United States, as well as an improvement in arbitrage economics towards the end of the three-month period, said Dorian LPG.After a lackluster first calendar quarter of 2018, exports from the United States peaked at approximately 2.7 million metric tons in May 2018, and total U.S. exports for the first half of 2018 were 4% higher as compared to the same…
China Navigation Company Opens Vancouver Branch
China Navigation Company (CNCo), part of the Swire Group, has expanded its presence in North America by establishing a branch office in Vancouver, Canada.The opening ceremony was graced by Bruce Ralston, Minister of Jobs, Trade & Technology, British Columbia, who unveiled a plaque in the CNCo office located at W Hastings Street.Minister Bruce Ralston said, “The Province recognises the significant contribution that The China Navigation Company makes to the shipping industry worldwide.
Maersk: India Recording a 14% Upturn
India´s containerized trade with the BRICS´ nations trademarks a rise of 14 percent. Export trade from India to Brazil, China, Russia and South Africa in Q1 2018 increased 7,5 percent YOY from same period last year. South Africa turned to be Indian´s top trade partner.BRICS EXIM trade registers steady growth of 1.5 percent in Q1 2018 compared to Q1 2017. “Last year, the BRICS´ joint contribution to the world economy was 23.6 percent, and according to the International Monetary Fund’s predictions this is set to rise to 26.8 percent by 2022.
Japan, South Korea Steel Exports to India Surge
India is being hit by a wave of steel from producers in Japan and South Korea, a government document showed, as mills there redirect supply after U.S. President Donald Trump slapped an import duty on the alloy earlier this year.During the first quarter of the fiscal year starting in April, India's steel imports from South Korea rose 31 percent from a year earlier, while those from Japan climbed 30 percent, according to an internal document from the Ministry of Steel that was reviewed…
Middle East Oil & Gas Shipping Routes are at Risk
Saudi Arabia said on Thursday it was suspending oil shipments through the Red Sea after Yemen's Iran-aligned Houthis attacked two crude tankers, underscoring risks caused by the conflict in the world's top oil exporting region.Iran, in its row with the United States over sanctions, has also threatened to block the Strait of Hormuz, the other major strategic shipping route for oil from the region and the main route for Iranian crude exports.Below are facts about region's shipping routes:Bab al-MandebAny move to block the Bab al-Mandeb…
India Spurring Port Development
The government of India has identified 243 projects at a total cost USD 21 billion have been identified for enhancing the infrastructure at Indian ports upto 2035, under Sagarmala Program.Out of these 44 projects (USD 1.25 bln) have been completed and 79 projects (USD 53 bln) are under implementation. These projects are being implemented by Major Port Trusts, State Maritime Boards, State Government/UTs and Private Sector.12 Major ports have spent USD 791 mln in the last two…
ISC Middle East to East Africa Service Reshuffling
In a continued effort to provide our customers with reliable and efficient service, CMA CGM Group will upgrade its service offering connection India and Middle East to East Africa., said press release from the company.Starting 17th August 2018, the group will offer a new product to East Africa whilst combining NOURA 1 and NOURA 2 former rotations.Strengths of this new offer is one direct service serving 6 ports of call in East Africa range.Revised port coverage as follows: Khor Fakkan…
Hapag-Lloyd Investing in East Africa
German shipping company Hapag-Lloyd is continuing to focus on the growing market in East Africa, where annual growth rates of approximately six percent lead the African continent.In April 2018 Hapag-Lloyd launched the East Africa Service (EAS), its first dedicated service to East Africa. The weekly service sails from Jeddah to Mombasa, and from there to Dar es Salaam, in Tanzania, and directly back to Jeddah. The service will be expanded in September with a weekly connection to and from Nhava Sheva, Mundra, Khor Fakkan, Jebel Ali, Mombasa and Dar es Salaam.
India Issues New Guidelines for Investment in Ports
India's Ministry of Shipping has undertaken a diverse set of initiatives as part of its drive to boost profitability across major Indian ports.One major initiative is to improve the returns earned on treasury investments by the ports for pension, provident and surplus funds. Across all major ports, these funds add up to around INR 33,000 crore (USD 4.8 billion), yielding interest of around INR 2,700 crore (USD 394 million)Looking for ways to push this amount further, the Ministry…
Trump Bets on New European LNG Terminals
U.S. President Donald Trump expects the European Union to fund 9 to 11 liquefied natural gas (LNG) ports to absorb "vastly" more shipments from the United States but current EU investment in new projects will only help open small markets.In a White House press conference with Italian Prime Minister Giuseppe Conte late on Monday, Trump said part of the U.S.-EU trade talks sought to expand America's reach into the continent's gas markets which were awash in Russian supply."And we are already talking to the European Union about building anywhere from 9 to 11 ports…
Inland Waterways Authority of India Goes Online for Cargo Movers
The Inland Waterways Authority of India (IWAI) yesterday launched a dedicated portal to connect cargo owners and shippers with real time data on availability of vessels.The Government of India is developing National Waterways as a key transport intervention, as part of an integrated transport network strategy, which will help correct the transport modal mix that imposes huge logistics costs on the Indian economy. At present the cost of logistics in India, at 15 per cent of GDP…
India Allows Domestic Fertilizers Transportation by Foreign Vessels
India's Minister of State for Shipping Pon Radhakrishnan in informed that the Ministry of Shipping has given relaxation to foreign vessels for carriage of fertilizer from one port to another port within the country under section 407 of the Merchant Shipping Act, 1958. The foreign flag ships are now not required to obtain a license from the Director General of Shipping for engaging in coastal trade for carriage of fertilizer by sea.The relaxation is subject to the condition that…
India's Jal Marg Vikas Project on River Ganga on Full Steam
Even as the work on the development of Jal Marg Vikas Project (JMVP) on River Ganga is going on in full steam, a team of Inland Waterways Authority of India (IWAI) held a two day long intensive advocacy and communications outreach at Sahibganj and Rajmahal in Jharkhand. JMVP is India's prestigious development of waterways.The public meetings are being held as part of a month-long dialogue initiative on the entire stretch of JMVP (Varanasi to Haldia) that began in July.The IWAI is constructing a INR 280.
Ports to Acquire Controlling Stakes in Dredging Corporation of India
India's three major ports, including Paradip in Odisha, may acquire a stake in Dredging Corporation of India (DCI) based on availability of surplus funds lying with them."In a meeting chaired by Secretary (Shipping) with Chairmen/Chairmen I/C of Major Ports, held on 18th June 2018, the disinvestment proposal of Dredging Corporation of India Ltd (DCI) was discussed," Minister of State for Shipping Mansukh L Mandaviya informed the Parliament."It was suggested that Visakhapatnam Port Trust (VPT)…