Southern Ports are Getting with The Program…
The In-transit cold treatment program, that is! The dimensions of The Program are remarkable. The Reefer Shipping Market and Forecast 2017/18 produced by Drewry calculated that 79 percent of perishable cargo moved in refrigerated containers in 2016 and only 21 percent on reefer ships. By 2021, reefer containers will carry 85 percent of perishable products, while reefer cargo will reach 134 million tons, Drewry study predicts. One reason for the growth of reefer cargo in containers is the remarkable expansion of the USDA sponsored In-Transit Cold Treatment Pilot program.
OP/ED: How Growth Can Benefit the Environment
You might call 2017 a banner year for California ports. San Pedro Bay, home to the nation's leading twin ports of Los Angeles and Long Beach exceeded their pre-recession peaks. Collectively, San Pedro Bay was up 7.2% from its 2006 peak. It took a decade to get there and while you wouldn't want that sort of annualized growth going forward, it did arguably mark the end of San Pedro Bay's recession dip. More importantly, growth looks to continue in 2018. As of the end of May, year to date container volumes are 3.7% higher over the same period in 2017.
Singapore Tops World's Shipping Centre Rankings in 2018
Singapore has emerged as the world's top maritime center for the fourth consecutive time in the Xinhua-Baltic International Shipping Center Development Index. "Singapore remains unmoved at the top of the International Shipping Centre Development (ISCD) Index for the fifth successive year, following a benchmark report published today (10 July 2018) by the Baltic Exchange and Xinhua, China’s news agency," said a press release. The index covers 43 of the world’s largest ports and…
Supertanker Hauling Saudi Crude U-turns After Recent Attack
A supertanker carrying Saudi Arabian crude has turned around near the Bab El-Mandeb strait, days after the world's top exporter said it was suspending all oil shipments through the strait following an attack by Yemen's Iran-aligned Houthi movement on two other ships.The Khuzama, a Very Large Crude Carrier (VLCC) transporting about 2 million barrels of oil, has made a U-turn and is now sailing east - ClipperData and Reuters vessel tracking data.Yemen, where a Saudi-led coalition has been battling the Houthis in a three-year war, borders the strait, which connects the Gulf of Aden to the Red Sea
Port Manatee, Carver Maritime Ink Long-term Terminal Deal
Port Manatee and Carver Maritime LLC have entered a long-term marine terminal operating agreement for a 10-acre aggregate offloading facility at the Florida Gulf Coast port.The agreement, for as many as 20 years including options, was approved Thursday by the Manatee County Port Authority and ensures property lease payments totaling $1.8 million for the initial five-year term, in addition to wharfage payments for annual cargo throughputs.Carver Laraway, president of Altamont,…
ETP Reopens one of two Philadelphia Area Product Pipelines
Energy Transfer Partners LP reopened the smaller of two Philadelphia area pipelines that help carry refined products from the region's refineries to the New York Harbor and Western Pennsylvania but the larger of the two remained shut, the company said in a customer notice seen by Reuters. The two lines, 8-inch and 12-inch in size, were shut on Friday as a precaution after gasoline was discovered in a creek outside of Philadelphia. ETP said on Friday it was still trying to determine whether the leak came from its pipelines, and did not respond to requests for comment on Monday.
ACMF Receives Grant from Former SeaFreight Boss
The American Caribbean Maritime Foundation (ACMF) announced it received a contribution of $150,000 from Mr. and Mrs. Roland Malins-Smith. Mr. Malins-Smith, now retired, is founder of SeaFreight Line Ltd. which was acquired by Crowley in 2015.The ACMF funds scholarships and provides grants for classrooms and other facilities at the Caribbean Maritime University (CMU).Malins-Smith, born in Grenada, began his career in 1970 researching shipping and transportation issues for the then Caribbean Free Trade Area (Carifta) Secretariat based in Georgetown Guyana.
GLDD Wins $164 Million in Dredging Awards
Great Lakes Dredge & Dock Corporation (Great Lakes), provider of both dredging services in the United States and environmental and infrastructure services, announced the receipt of a several dredging awards totaling $164 million. the Delaware River Deepening Variation Order (Capital, Delaware, $14.3 million). The scope of work for the four coastal protection projects includes sustenance of beachfronts with sand excavated from off-shore borrow which is then used to rebuild dunes and restore the shorelines eroded by winter storms.
WFW Advises CMBFL on Sale, Leaseback of 15 Dry Bulker
Watson Farley & Williams (WFW) has advised CMB Financial Leasing (CMBFL) on a US$180.4m sale and leaseback transaction with Star Bulk Carriers Corp, a Nasdaq-listed global shipping company providing worldwide seaborne transportation of dry bulk cargoes.The funds obtained by Star Bulk under this new five-year capital lease of US$180.4m entered into with CMBFL were used to part-finance the cash portion of the consideration with regards to Star Bulk’s acquisition of 15 dry bulk vessels from Norwegian shipowner Songa Bulk ASA.Founded in 2008…
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…
Chinese Imports to US Ports Peaking Early
Chinese imports to U.S. ports rose more than expected in June, suggesting that some retailers moved up orders to insulate themselves from an intensifying trade war that threatens to send up costs on a growing number of consumer products.Retailers such as Walmart Inc and Amazon.com face uncertainty due to U.S. President Donald Trump's threat to impose more tariffs on Chinese goods, and the jump in imports from the country was likely because of "pre-emptive buying in anticipation of the tariffs"…
McAllister Christens Tug Pair in NYC
There's nothing like New York City for a maritime event, and McAllister Towing and Transportation Co., Inc., one of the historic family-run companies serving the industry for more than 150 years, held a signature ceremony and party last night at Pier 16 in Manhattan with the christening of two tugboats, the Rosemary McAllister and the Capt. Brian A. McAllister, both ABS classed FiFi 1 with propulsion systems meeting EPA Tier 4 emission regulations: 3516E Tier IV Caterpillar engines…
Maritime College to Host 'Marine Highways' Conference
Roads around the New York metro area, and up and down many parts of the East Coast, are increasingly congested. The congestion increases air pollution, leads to poor roads, and slows the flow of people and goods throughout the region.On September 27, SUNY Maritime College will host a conference to discuss ways to move cargo transport off land and onto the water, thereby reducing road congestion and air pollution.Other nations and regions around the world are increasingly seeking to move cargo traffic off the roads and onto ships.
New Scholarship Established at SUNY Maritime
Rear Adm. Michael Alfultis, president of SUNY Maritime College, today announced the establishment of the Ruth Mulan Chu Chao and James Si-Cheng Chao Endowed Scholarship Fund as a permanent, need-based scholarship. The scholarship has been funded by Dr. James S.C. Chao, Founder and Honorary Chairman of Foremost Group, and his daughter, Ms. Angela A. Chao, Chairman and CEO of Foremost Group in honor of Dr. Chao and his late wife, Mrs. Ruth Mulan Chu Chao.“The Chao Scholarship will benefit generations of students who are interested in pursuing maritime and engineering studies…
ONE Accepts Delivery of 14,000 TEU Box Ship
Singapore headquartered container carrier Ocean Network Express Pte. Ltd. (ONE) has taken delivery of a new 14,000 TEU-class containership from Japanese shipbuilder Imabari Shipbuilding Co., Ltd, on July 24, 2018.The new ultra-large containership, One Minato, was built at Imabari’s Hiroshima yard and joins the ONE fleet under sublet from Kawasaki Kisen Kaisha, Ltd.
GCT Bayonne Welcomes the ONE Stork
GCT USA has welcomed the Ocean Network Express’ (ONE) first magenta ship on its first dual call to the most advanced terminal in the Port of New York and New Jersey, GCT Bayonne.Following the merger of NYK Line, Mitsui OSK, and “K” Line on April 1, 2018, ultra large container ship (ULCS) ONE STORK joined the Transport High Efficiency (“THE”) Alliance’s EC4 Asia-North America all-water Suez service on its maiden voyage to the East Coast.THE Alliance chose to host all of its Far East all water services at semi-automated GCT Bayonne, due to its award-winning high marine and landside productivity.
Hyundai Merchant Marine Joins NYSHEX
The New York Shipping Exchange (NYSHEX), the innovator of the first reliable digital forward freight contract for global container shipping, announced the addition of Hyundai Merchant Marine (HMM) as the newest carrier member to join the exchange.HMM joins a group of innovative carriers – Maersk Line, CMA CGM, Hapag Lloyd, OOCL, and COSCO – who have embraced the value of digital contracting and fully enforceable ocean freight contracts as a new offering for their customers. Model introduced by NYSHEX that is proven by a 99.8% fulfillment rate…
Port of Corpus Christi Raises $216.2 Mln in Bond Sale
The Port of Corpus Christi said it has raised $216.2 million to support the deepening and widening its ship channel and other projects through a Senior Lien Revenue Bonds sale.“We are pleased with the level of interest the institutional investment community demonstrated for both series of our bonds,” said Sean Strawbridge, CEO of the Port of Corpus Christi. “This round of funding will help the Port of Corpus Christi further progress our ambitious yet achievable capital investment…
Port of Corpus Christi Raises USD 216mln for Ship Channel Expansion
Port of Corpus Christi successfully priced and sold $216.2 million of Senior Lien Revenue Bonds. These bonds will be used for both the deepening and widening of the Corpus Christi Ship Channel as well as upcoming capital projects within the Port.Wells Fargo Securities acted as Lead Manager of a syndicate of underwriters including JP Morgan, Citigroup, and Frost Bank.“We are pleased with the level of interest the institutional investment community demonstrated for both series of our bonds.” said Sean Strawbridge, CEO of the Port of Corpus Christi.
Port Everglades Names Jenkins Port Security Manager
Port Everglades has appointed Robert “Rob” Jenkins to the position of Port Security Manager, a promotion from Security Compliance Manager.In his new position, Jenkins will be responsible for overseeing security and fire rescue operations and management for the Port, as well as facilitating related contracts, grants and funding. Additionally, he will interface with federal, state and local regulatory agencies that operate in Port Everglades.Jenkins joined the Port staff in 2013.
American P&I Club Manager Prepares for Further Growth
Shipowners Claims Bureau, Inc. (SCB), the Manager of the American P&I Club, has recently announced a series of appointments designed to service the Club’s growing membership and help fulfil longer-term goals of continued expansion. The American Club has grown its membership substantially over recent years, tonnage having increased by some 25 percent over the past 24 months, and these appointments are intended to consolidate the Club’s continuing service capabilities in the future.The…
Polli to Replace Lovetro as TRAC Intermodal CEO
TRAC Intermodal announced that Keith Lovetro, President and Chief Executive Officer, will retire on July 31, 2018. Jennifer Polli has been named to replace Lovetro as President and Chief Executive Officer effective August 1, 2018.Lovetro, who has led the company since joining in 2011, solidified TRAC Intermodal as a leading provider of intermodal equipment and services.Polli, who joined TRAC in 2012, has been a member of TRAC’s executive leadership team and has led multiple business functions at the ccompany, including pricing, asset management, marketing and product development.
Diana Shipping Appoints Directors and Executive Officers
Diana Shipping announced that, effective August 1, 2018, the Company increased the size of its Board of Directors from nine to eleven members.The global shipping company specializing in the ownership of dry bulk vessels appointed Christos Glavanis to serve as a Class I Director and appointed Mr. Andreas Michalopoulos, the Company’s Chief Financial Officer and Treasurer, to serve as a Class III director, in each case effective August 1, 2018.The Board has determined that Glavanis is an “independent director” as such term is defined under the Securities Exchange Act of 1934…
One Minato Shines Through Port of Yantian
Ocean Network Express East Asia (ONE EA) has celebrated the maiden voyage of the second of a series of seven 14,000 TEU-class magenta containership of the company, ONE MINATO at Yantian International Container Terminals Limited (YICT).Sailed under the flag of Japan, One Minato is a newly built 14,000 TEU-class containership which was delivered from Imabari Shipbuilding Co., Ltd. in Hiroshima, Japan on 24 July 2018.At 365.94 metres length and 51.2 metres width, the vessel deployed on THE Alliance’s Asia to North America East Coast trade (EC4 service)…
Scorpio Bulkers Gets New Build Financing form Nordic Banks
Scorpio Bulkers announced that it has received a commitment from Nordea AB (publ), acting through its New York branch, and Skandinaviska Enskilda Banken AB (publ) for a loan facility of up to $184.0 million.The loan facility will be used to finance up to 60% of the fair market value of six Ultramax dry bulk vessels (SBI Athena, SBI Thalia, SBI Zeus, SBI Hera, SBI Poseidon and SBI Apollo) and six Kamsarmax dry bulk vessels (SBI Conga, SBI Bolero, SBI Sousta, SBI Rock, SBI Reggae and SBI Mazurka).The loan facility…
China Surprises with Threat on US Energy Exports
Beijing surprised oil markets with threats to levy tariffs on imports of U.S. crude oil, natural gas and other energy products on Friday, just as China has risen to the top of the list of importers of oil from the United States.China responded to $50 billion in tariffs imposed by U.S. President Donald Trump with a similar amount of levies on a variety of U.S. goods. But China also said it would impose tariffs on U.S. energy products, which analysts considered a surprise as previous tariff threats had centered on agricultural goods and automobiles."This is a big deal.