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Saturday, May 26, 2018

Photo: Cargotec

Cargotec, JCE Invest AB Form Joint Bulk Business

Cargotec has signed an agreement with JCE Invest AB to establish a joint venture, Bruks Siwertell Group, specialised in dry bulk handling. The new joint venture will own Siwertell AB (previously part of Kalmar Business Area within Cargotec) and BRUKS Holding AB (previously part of JCE Group). Both companies are world-leading suppliers of bulk materials handling solutions. Cargotec will own 48% of the shares in Bruks Siwertell Group, and JCE Invest AB will own the rest, 52%. The ownerships are included to venturers' consolidated financial statements in accordance with the applicable regulation.

U.S., China Closer on Trade Pact

The United States and China agreed to take measures to reduce the U.S. trade deficit in goods by having China purchase more American goods - particularly agriculture and energy products, according to a joint statement the two nations released on Saturday. "There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China," the joint statement reads. "To meet the growing consumption needs of the Chinese people and the need for high-quality economic development…

© Maria / Adobe Stock

US Retail Imports Growing Despite Tariffs Threat

It's expected that imports at the United States’ major retail container ports will grow steadily throughout the summer despite the prospect of heavy tariffs on goods from China, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.“With proposed tariffs yet to be officially imposed, retailers are stocking up on merchandise that could soon cost considerably more,” said NRF Vice President for Supply Chain and Customs Policy, Jonathan Gold.

D.V. Abeysinghe, Managing Director/ CEO of Colombo Dockyard PLC and Hiroki Namikawa, General Manager Energy Infrastructure Project Department of Toyota Tsusho Corporation exchanging the Contracts witnessed by Dr Toru Takehara Chairman of Colombo Dockyard PLC. Photo: Colombo Dockyard PLC

Colombo Dockyard to Build Two Vessels for Iraq

The leader of Shipbuilding Industry in Sri Lanka Colombo Dockyard PLC (CDPLC) has successfully secured a contract with Toyota Tsusho Corporation (TTC) of Japan to build two vessels; Pilot Station Vessel and Buoy Tender Vessel, for General Company for Port of Iraq (GCPI). TTC and GCPI signed the Prime Contract on 27th April 2018 in Dubai. Subsequent to the signing of the Prime Contract, TTC signed the Sub Contract Agreement with CDPLC as TTC’s preferred Shipyard for the construction of these vessels on 2nd May 2018 in Japan.

Photo: ADNOC Logistics and Services

ADNOC to Run Ruwais Container Terminal

ADNOC Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (ADNOC), has signed a contract with Borouge, a leading provider of value creating plastics solutions, to handle its Ruwais container terminal operations. The five-year contract, awarded through a competitive bidding process, is the first deal signed between Borouge and ADNOC Logistics and Services as a new integrated entity, following the integration of IRSHAD, ESNAAD and ADNATCO into a single ADNOC operating company.

The IWAI chairperson NutanGuha Biswas and other senior officials at the workshop. Photo: PIB

India Seeks Banks Financial Support for Inland Water Transport

The Inland Waterways Authority of India (IWAI) will involve banks for ensuring availability of financing options for the private players engaged in Inland Water Transport (IWT) sector. Financing and funding for Operation and Maintenance of IWT assets is a challenge for shippers, vessel operators and asset management firms as the banking sector is not yet ready with any customized financing option for the sector. Addressing the day-long Stakeholders Conference on Emerging Business opportunities in Inland Water Transport Sectorwas organized by IWAI at New Delhi…

Photo: Norwegian Coastal Administration

Kongsberg Norcontrol Pact with Norwegian Coastal Administration

Kongsberg Norcontrol has signed a framework agreement with the Norwegian Coastal Administration for delivery, operations and maintenance of radars to the maritime traffic service. The agreement has a potential total value of up to NOK 250 million and a duration of up to eleven years. This is amongst the largest framework agreements the Norwegian Coastal Administration has entered into with a single supplier. "The Ministry of Transport and Communications has assigned us to expand the service area for our maritime traffic service…

Photo: Vancouver Fraser Port Authority

Federal Funding for Port of Vancouver

The Vancouver Fraser Port Authority received federal funding for projects that will improve the flow of goods to and from the Port of Vancouver. Through the collaborative efforts of the port authority, Transport Canada, B.C.’s Ministry of Transportation and Infrastructure, TransLink and the Greater Vancouver Gateway Council, an infrastructure program called the Greater Vancouver Gateway 2030 strategy was created to ensure the roads and railways that lead to the Port of Vancouver are ready to manage Canada’s growing trade.

Protests at Santos Port Impacting Flow of Goods

Protests by truckers in Brazil demanding a reduction in diesel prices have impacted the flow of goods at Santos, Latin America's largest port, the port administration said on Monday.Santos port authority said the protests have restricted the arrival of goods to several terminals, as well as the dispatch of imported products to domestic destinations. It did not specify what kind of goods were affected.(Reporting by Marcelo Teixeira, Editing by Rosalba O'Brien)

© Anatoly Menzhiliy / Adobe Stock

Gunvor, Oceangold and Maas Capital Form Tanker JV

A new ship holding company has been formed through a joint venture agreement between physical energy trader Gunvor Group, ship management company Oceangold Tankers and investor Maas Capital.The three partners hold an equal share in the new company, ClearOcean Tankers, which has been incorporated in Cyprus.The new joint venture company has entered into shipbuilding contracts for six vessels from South Korean shipyards, including four MR2 product tankers from STX Offshore & Shipbuilding Co. and two LR2 product tankers from Daehan Shipbuilding Co.

© Nobilior / Adobe Stock

UN Seeks Traders' Help Enforcing North Korea Sanctions

A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said.The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.S. mainland in range of its nuclear weapons.Under the restrictions, Pyongyang is limited to importing 4 million barrels of crude and 500,000 barrels…

Bomin Takes the Lead Supplying IMO-compliant Marine Fuel

Germany-based Bomin Group has started delivering ultra-low sulphur fuel oil (ULSFO) as a marine fuel to ships calling in the Amsterdam-Rotterdam-Antwerp region, the company said. The ULSFO marine fuel has a maximum 0.1 sulphur content and complies with regulations on designated Emissions Control Areas (ECAs)as well as the International Maritime Organization's (IMO) global sulphur cap in 2020. Coming IMO rules will slash the amount of sulphur emissions that ships worldwide are allowed to burn from 3.5 to 0.5 percent by 2020.

China's ShFE plans commodities platform to set physical prices

Shanghai Futures Exchange (ShFE) said on Tuesday it would launch China's first real-time platform for trading physical commodities from copper to chemicals, as it seeks to improve transparency and challenge rivals in the global futures market.The platform will set physical premiums and discounts for cash-settled futures warrants depending on the commodity's location, quality and brand.In commodities trading, buyers typically pay a premium on top of or receive a discount from the…

Photo: DNV GL

DNV GL Invests in Public Blockchain Service Provider VeChain

DNV GL, the risk management and quality assurance company, has bought a stake in leading public blockchain service provider VeChain as it looks to use the technology to develop new digital assurance solutions. The acquisition builds on the strong relationship between the two firms and follows the recent launch of My Story, a blockchain enabled digital assurance product which gives a new level of insight into supplier and product information. DNV GL took the step to buy the minority stake as it recognises the growth potential in both the VeChain and the technology it is advancing.

Photo: MSC Mediterranean Shipping Company S.A.

MSC Expands Intermodal Shipping at Trieste

MSC Mediterranean Shipping Company S.A. is enhancing intermodal connections via the port of Trieste, Italy, to improve transit times for shippers moving cargo between Asia, the Mediterranean and Europe. The new “MSC Graz-Trieste Runner” shuttle train, operated together with Cargo Center Graz, connects Trieste with Werndorf, Austria, once a week. The service is the first direct connection between Trieste and Werndorf and its schedule is coordinated with MSC’s Far East Phoenix ocean-liner service to ensure optimal timing for intercontinental cargo delivery.

President Joko Widodo meeting CMA CGM staff - Jakarta Port (Photo: CMA GCM)

Indonesian President Widodo Visits CMA CGM in Jakarta

CMA CGM welcomed, on Tuesday May 15, the Indonesian President, His Excellency Joko Widodo, on the occasion of his visit to the port of Jakarta (JICT). President Widodo was accompanied by the Minister of Industry, Mr. Airlangga Hartarto, the Minister of Trade, Mr. Enggartiasto Lukita, the Minister of Transportation, Mr. Budi Karya Sumadi, and the Minister of State-Owned Enterprises, Mrs. Rini Soemarno. President Widodo met with the local CMA CGM staff and the crew of the CMA CGM TAGE, a 9,365 TEU ship deployed on the JAX Route between Southeast Asia and the West Coast of the United States.

Photo: Ports of Indiana

Mount Vernon Shipments Drive Record Q1 for Indiana Ports

The Ports of Indiana set a record for first quarter shipments in 2018, handling 3.2 million tons at all three ports. The Port of Indiana-Mount Vernon drove this success by setting a record for the highest first quarter volume ever recorded at any of the state's three ports. This follows a record-breaking year for Port of Indiana-Mount Vernon, which handled more cargo in 2017 than any port in the 57-year history of Indiana's port system. In the first quarter of 2018, the Mount Vernon port handled 2.2 million tons, which is 6 percent higher than the first quarter of 2017.

© Amarinj / Adobe Stock

Japan Plans Retaliatory Tariffs Against US

Japan is considering tariffs on U.S. exports worth $409 million in retaliation against steel and aluminium import tariffs imposed by President Donald Trump, media reported on Thursday.Such a move would signal Tokyo is ready to go beyond backdoor talks and pleas for exemptions from the U.S. duties.It would also add to a growing rift that Trump's "America First" trade policies is creating among major economies, which threatens to slow global trade and business activity.Japan is the only major U.S. ally that did not receive exemptions from Trump's tariff decision.

Photo: Al Madina Logistics

MOL Logistics Signs Pact with Al Madina Logistics in Oman

Mitsui O.S.K. Lines  (MOL) announced that its group company, MOL Logistics (Japan) has signed an agency agreement with Al Madina Logistics Services Company SAOC, which has developed its logistics business in Oman, which is expected to grow as emerging market. MOL is strategically allocating resources to the logistics business under its management plan, "Rolling Plan 2018." MOL Logistics, a core of the MOL Group's logistics business, has 290 offices in 71 countries around the world…

Photo: Scorpio Tankers

Scorpio Tankers to Sell, Leaseback Five Product Tankers

Scorpio Tankers announced that it has agreed to sell and leaseback three MR product tankers (STI Ville, STI Fontvieille and STI Brooklyn) and two LR2 product tankers (STI Rose and STI Rambla) to AVIC International Leasing Co., Ltd. Upon completion, the Company’s liquidity is expected to increase by $42 million in aggregate after the repayment of outstanding debt. These lease financing arrangements are part of the Company’s new financing initiatives that were announced on April 25, 2018. As part of the agreements, the Company will bareboat charter-in the vessels for a period of eight years.

Danny Trasher (Photo: Actisense)

Actisense Restructures Its Management Team

Marine electronic equipment provider Actisense has undergone an internal reorganization. Danny Thrasher, Head of Sales & Operations, has taken on the newly created role of Head of Sales & Marketing. Additionally, Mark Pay former Operations Supervisor, has been promoted to the role of Operations Manager. As the Head of Sales & Operations, Thrasher has been responsible for promoting the Actisense brand overseas as well as managing the internal operations team. In his new role as Head of Sales & Marketing, he will be aligning sales activities with the company’s global business development plans.

File Image (CREDIT: AdobeStock / © Nightman1965)

China 'Welcomes' High-Quality U.S. Products

China welcomes high-quality and competitive products made by the United States to enter its market, the commerce ministry said on Wednesday.   Both China and the United States will seriously implement a deal reached in Washington, including the purchase of farm and and energy products, the ministry said in a statement.   China said on Tuesday it would cut import tariffs for automobiles and car parts in the effort to further open up its markets.   Reporting by Beijing Monitoring Desk 

Photo: Jupiter MLP LLC

Dallas Company Secures Permits to Expand Crude Export Hub at Texas Port

Jupiter MLP LLC, a Dallas-based logistics company, has secured permits to expand a crude export dock at the Port of Brownsville in Texas, the latest in a series of moves made by U.S. companies to tap into booming overseas shipments.The expanded dock space will be able to accommodate Suezmax-size vessels, the company said in a statement Thursday.Privately-held Jupiter has also begun the permitting process to build an offshore supertanker loading facility six miles (9.6 km) off the coast of Texas.The facility will be connected to the expanded dock…

Alysha Chambers  (Photo: KPI Bridge Oil)

KPI Bridge Oil Promotes Chambers to Marketing Manager

KPI Bridge Oil, a global trader and broker in marine fuels, marine lubricants and risk management products, has promoted Alysha Chambers from Group Marketing Coordinator to Group Marketing Manager.Chambers joined KPI Bridge Oil two years ago from a UK healthcare manufacturer where she was responsible for the company’s B2B and B2C marketing activities. Chambers has a MA degree from Kingston University, London in Marketing Communications & Advertising and a BA degree from Saint Leo University, USA in Communication Management.

© Osman Pekoglu / Adobe Stock

Turkey to Impose Retaliatory Measures against US Tariffs

© Roy Ledford / MarineTraffic.com

US Fines Shipping Company $1 Mln for Pollution Crimes

A Japanese shipping company will have to pay $1 million after being convicted and sentenced for obstruction of justice and falsification of an Oil Record Book to cover-up intentional pollution from bulk carrier M/V Atlantic Oasis.The company Nitta Kisen Kaisha Ltd., owner and operater of the Atlantic Oasis, admitted that its engineers failed to document the illegal discharge of oily wastes from the vessel’s fuel and lubrication oil purifier systems, as well as discharges of oily bilge waste from the bilge holding tank and from the vessel’s bilges when delivering steel products to Wilmington…

© GM.Simon / MarineTraffic.com

Diesel Tankers Turn to New York after Stocks Drop

Tankers carrying diesel from Asia and Europe, including a giant 200,000 tonne cargo, are sailing towards New York where fuel supplies have dropped to a three-year low in recent weeks.The very large crude carrier (VLCC) Maran Aphrodite changed its destination on Friday to New York from its previous port of Rotterdam, according to Reuters ship tracking data.The vessel, which traders said was chartered by Total, left Singapore earlier this month.Several tankers have also been booked to go from Europe and the Baltics to the port of New York, a relatively rare route.

Photo: Rolls-Royce

Partners Look to Tackle Risks of Autonomous Shipping

As industry efforts to make autonomous shipping a reality continue, Rolls-Royce and AXA Corporate Solutions have signed a letter of intent (LOI) to explore ways in which they can bring a new risk management offering to the marine market.The companies say they seek to utilize Rolls-Royce Ship Intelligence systems and equipment and AXA’s risk analytics capabilities to support current sailing and future vessels."Combining AXA’s Marine Underwriting expertise and Rolls-Royce Ship Intelligence will enable both companies to deliver higher customer value through continuous innovation…

The MSC Christina (CREDIT: Haifa Port)

Container Shipping Line MSC Stops New Iran Bookings

The world's No. 2 container shipping line MSC said on Wednesday it would stop taking new bookings for Iran due to the decision by the United States to re-impose sanctions on Tehran after withdrawing from the international nuclear deal. In a note to clients, privately held MSC said it was "ceasing to provide access to services to and from Iran", adding that they would "conclude this period with the minimum disruption" to their customers' business. "While MSC is not accepting bookings for shipments originating from Iran…

Photo; Kalmar

Kalmar SmartPower for Indonesian Terminal

Kalmar, part of Cargotec, concluded a deal with Riau Andalan Pulp & Paper (RAPP) to supply three Kalmar SmartPower rubber-tyred gantry cranes (RTGs) for its container yard at the Port of Buatan in Indonesia. The order was booked in Cargotec's 2018 first quarter order intake and delivery is scheduled to take place towards the end of Q4 2018. RAPP, a subsidiary of APRIL Group - one of the world's leading producers of pulp and fine papers - operates a pulp and paper mill in Riau Province on the Indonesian island of Sumatra.

File Image (CREDIT: AdobeStock / © Igor Strukov)

ADM CFO: Supply Chain Can be Managed Through U.S.-China Trade Tensions

Global grain merchant Archer Daniels Midland Co (ADM)feels it can manage its supply chain to adapt to China's threatened tariffs on imports of U.S. soybeans, Chief Financial Officer Ray Young said on Wednesday. The Chicago-based company is confident the world's two largest economies will "get through" the trade dispute, and sees an opportunity for China to import additional ethanol, Young said at the BMO Capital Markets 2018 Farm to Market Conference in New York. Beijing has threatened tariffs on imports of U.S.

Image: Kalmar RTG

Kalmar to Supply SmartPower RTGs to Port of Buatan

Kalmar, part of Cargotec, has concluded a deal with Riau Andalan Pulp & Paper (RAPP) to supply three Kalmar SmartPower rubber-tyred gantry cranes (RTGs) for its container yard at the Port of Buatan in Indonesia. The order was booked in Cargotec's 2018 first quarter order intake and delivery is scheduled to take place towards the end of Q4 2018. RAPP, a subsidiary of APRIL Group - one of the world's leading producers of pulp and fine papers - operates a pulp and paper mill in Riau Province on the Indonesian island of Sumatra.

The 'Hyundai Forward' is one of ten smaller Panamax container ships in the new AEX service Photo: © HHM/Hasenpusch

New Hyundai Container Service Serves Hamburg

The Korean container shipping company Hyundai Merchant Marine (HMM) has started a new, independent Asia-North Europe service in April. The first vessel of the AEX service to call at Eurogate Container Terminal Hamburg on 12 May was ‘Hyundai Forward’ with a capacity of the 4,700 TEU. A total of ten units of these comparatively small Panamax container ships will rotate weekly between Busan (Korea), Shanghai (China), Ningbo (China), Kaohsiung (China), Yantian (China), Singapore, Colombo (Sri Lanka)…

Photo: SWIVEL Software LTD

SWIVEL unveils a Logistics Control Tower

SWIVEL Software announced, at the 3PL Value Creation Asia Summit in Hong Kong,  the launch of SWIVEL 360, a Logistics Control Tower that can provide both visibility and transparency between all parties in the supply chain. With SWIVEL 360, all parties can get real time alerts and search the status of a shipment based on SKU or item code, purchase order, bill of lading, container, or customer. The collaboration portal also allows simple tasks as searching airline and sailing schedules, communication with factories overseas, booking freight to logistics partners/carriers, and much more.

Photo: INTTRA

INTTRA Adds Salam Pacific Indonesia Lines to its Carrier Network

INTTRA, the largest neutral network, software and information provider at the center of the ocean shipping industry, announced an expansion of its rapidly growing carrier network with the addition of Salam Pacific Indonesia Lines (SPIL), its first carrier in Indonesia. The addition of SPIL represents a trend by regional carriers who are joining INTTRA to gain a competitive advantage in their service regions. SPIL provides services to all Indonesian routes, with 32 offices strategically located across the Indonesian archipelago.

Photo: Maersk Line

Maersk Line Rolls out Exclusive Transatlantic Service

Maersk Line, the world's largest shipping company, announced the expansion of its product portfolio between Europe's Mediterranean region and Canada to cater for the growing demands of importers and exporters on both sides of the Atlantic. The exclusive, fully Maersk Line-operated weekly service will be a five-vessel rotation stopping in Salerno and La Spezia (Italy), Fos-sur-Mer (France), Algeciras (Spain), Montreal and Halifax (Canada), and Valencia (Spain). Other Mediterranean…

Photo: Hamburg Süd

Hamburg Süd Adjusts EMCS Service

Hamburg Süd is revising the sequence of ports in its EMCS service between Mexico, Central America, the Caribbean and North Europe. Beginning in June, weekly calls will be made at the following ports as part of the EMCS service: Puerto Moin (Costa Rica) – Cork (Ireland) – Tilbury (UK) – Antwerp (Belgium) – Bremerhaven (Germany) – Altamira (Mexico) – Veracruz (Mexico) – Port of Big Creek (Belize) – Manzanillo (Panama). The EMCS continues to provide clients short transit times and broad port coverage of Mexico, Belize, Panama and Costa Rica to North Europe.

Photo: Liebherr

Liebherr LHM 420 for Shannon Foynes Port Company

Shannon Foynes Port Company (SFPC) has taken delivery of a new Liebherr Mobile Harbor Crane LHM 420, which was delivered fully assembled by sea from Liebherr’s factory in Rostock. Shannon Foynes Port Company opted for a new Liebherr mobile harbor crane type LHM 420. The addition of this crane is designed to help maximize the potential of the deep water port at Foynes and contribute to the creation of up to 3,000 jobs along the Shannon Estuary. The crane was procured by Shannon Foynes Port Company through a competitive tendering process.

Photo: Chamber of Marine Commerce

National Maritime Day Celebrates the Benefits of Waterborne Transportation

The maritime industry is the lifeblood of United States trade, delivering goods throughout North America and around the world. National Maritime Day, Tuesday, May 22, 2018, recognizes the benefits the maritime industry provides in the U.S. and celebrates those who work on the water. Members of the Great Lakes-St. Lawrence Seaway shipping industry are among those celebrating National Maritime Day. The Chamber of Marine Commerce is honored to represent American and Canadian shippers, ports, terminals and marine service providers who work to keep domestic and international trade afloat.

Image: International Seaways

International Seaways Funds FSO Joint Ventures

International Seaways announced that its joint ventures with Euronav NV, which own the FSO Africa and FSO Asia floating storage and offloading service vessels, have closed on a $220 million credit facility. Based on INSW’s 50% ownership in the joint ventures, the Company has received $110 million in proceeds from the drawdown of the facility, which it expects to use for general corporate purposes, including to partially fund the previously announced VLCC acquisition. “With the $110 million term loan…

LNG Vessel - Seri Camellia. Photo: MISC Berhad

MISC to Spend $4B Capex in 5 Years

MISC Bhd, the shipping arm of Petroliam Nasional Bhd or Petronas, which is optimistic of delivering better earnings in its financial year 2018, is setting aside a bigger capital expenditure (capex) totalling RM15.68 billion (US$4 billion) over the next five years to grow its four core businesses, reports Bernama. The core segments are liquefied natural gas (LNG) shipping; petroleum and product shipping; offshore business; and marine and heavy engineering. President and Chief Executive…

(Image: Interlake Steamship Company)

Interlake Charters Barge for Great Lakes Service

Ohio-based shipping firm the Interlake Steamship Company announced it will time charter a 418-foot, 14,400-short-ton capacity dry cargo barge from the U.S. East Coast to operate on the Great Lakes starting this spring.The single-hold covered hopper barge Montville, owned and operated by Connecticut-based towing services provider Moran Towing Corp, will be under charter through 2019 with options to extend.The time charter deal marks a first for Great Lakes carrier Interlake, whose owned fleet includes nine self-unloading vessels ranging in carrying capacity from 24,000 to 68,000 gross tons.

Graph: Drewry Shipping Consultants Limited

Container Equipment Market Surges Ahead: Drewry

The move towards container leasing and away from carrier ownership continues unabated and the leased fleet now has a clear majority over that owned by transport operators, according to the latest edition of the Container Census & Leasing and Equipment Insight published by global shipping consultancy Drewry. Leasing companies accounted for 55% of container purchases in 2017, which continues the trend seen for most of this decade. With the fleet of containers owned by transport operators growing by a mere 2.4%, the leased fleet added 6.7% and the share owned by lessors is now nearing 52%.

Welcoming more than 130 senior-level shipping executives to its third annual Technology Summit in Hamburg on April 24, INTTRA CEO John Fay stressed the importance of industry-wide collaboration to effectively turn innovation into action, a key component to advancing the digital transformation of the ocean freight industry. (Photo: INTTRA)

INTTRA: Enabling Collaboration Across Container Shipping

INTTRA, a neutral network, software and information provider for the ocean shipping industry, hosted a Technology Summit in Hamburg, Germany to address the need for collaboration across container shipping to help advance the ocean freight industry’s digital transformation."INTTRA is well positioned to drive the collaborative effort required to address industry challenges such as a contracted rates management network and data interoperability, as well as landside equipment optimization through Avantida," said INTTRA CEO John Fay.

Wynne Edwards (Photo: MarineMTS)

MarineMTS Launches Silverbox

MarineMTS has launched to market Silverbox, a new piece of technology that is set to provide secure chart and data updates to mariners across the globe. Silverbox will help vessel owners and operators improve voyage planning, enhance safety and prepare for a future of automation.Silverbox, which has undergone rigorous testing on client vessels around the world, will enable the delivery of live, secure, automatic updates to navigational charts on vessels that use an Electronic Chart Display and Information System (ECDIS) - mandatory for all sizes of commercial craft by July 2018.

(File photo: Maersk Tankers)

Maersk Tankers Confirms Order for Six Newbuilds

Maersk Tankers announced a move to renew its fleet with a confirmed order for six Chinese-built LR2 product tankers for delivery from 2020.Maersk Product Tankers’ board of directors approved the order for the six LR2 newbuilds on contract with Dalian Shipyard. The deal includes an option for four additional vessels.“The current market makes the investment attractive because it offers competitive asset prices. The fleet renewal will help to sustain a competitive fleet that is meeting customers’ demands and retain a strong market position in the LR2 segment…

© sornlada833 / Adobe Stock

South Korea's April Exports Fall Unexpectedly

South Korean exports declined in April for the first time in 18 months, unable to keep up with 2017’s brisk pace as global demand softened, adding to worries about the country’s trade outlook amid the risk of a deepening U.S-China trade conflict.Exports fell 1.5 percent to $50.1 billion from a year earlier, marking the first decline since October 2016 when shipments fell 3.2 percent, government data showed on Tuesday. Economists polled by Reuters had forecast 4.1 percent growth.Imports increased 14.5 percent to $43.4 billion…

© khunkorn / Adobe Stock

NRF: Tariffs Against China Would Destroy 134,000 US Jobs

The Trump administration’s proposed tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce U.S. gross domestic product by nearly $3 billion and destroy 134,000 American jobs, according to a new study released today by the National Retail Federation and the Consumer Technology Association. The report finds that four jobs would be lost for every job gained. “As administration officials prepare to head to China for trade talks, the livelihoods of American workers hang in the balance,” NRF President and CEO Matthew Shay said.

Photo: Milaha

Milaha Rolls Out New Container Feeder Service

Qatar-based maritime transport and logistics conglomerate Milaha has launched a direct container feeder service between Qatar and Iraq.The new service, which will be an expansion of the existing Qatar-Kuwait service that the company launched last year, will follow a Hamad Port-Umm Qasr (Iraq)-Shuwaikh (Kuwait)-Hamad Port rotation, and will be initially served by one vessel with a 1,015 TEU capacity and 110 reefer plugs.The service will have a transit time of two days. The first vessel will depart from Hamad Port on May 7 and reach at Umm Qasr Port on May 9…

© stdemiriz / Adobe Stock

Turkmenistan Seeks to Tap into East-West Cargo Flows with New Seaport

Turkmenistan on Wednesday opened a new $1.5 billion cargo and passenger seaport on the Caspian Sea aiming to boost its export revenues by handling shipping traffic between Asia and Europe.The Central Asian country's main source of hard currency is its gas exports, which took a hit when Russia, once its main customer, stopped all purchases in 2016 after a pricing dispute.The port, in the city of Turkmenbashi, will more than triple Turkmenistan's cargo handling capacity to 25-26 million tonnes a year…

Photo: Hapag-Lloyd

Hapag-Lloyd Focuses on Africa

Hapag-Lloyd celebrated the official opening of its new office in Tema, the most important port city in Ghana. Beginning immediately, Hapag-Lloyd will manage all its activities in West Africa from this location. “I’m very pleased that our enhanced presence in West Africa is showing initial signs of success,” said Anthony Firmin, Chief Operating Officer (COO) of Hapag-Lloyd. “Our West Africa Express (WAX) service from and to West Africa has been operating with extraordinary success for several years and is very well received by customers.

Image: Boston Carriers

Boston Carriers to Buy Nuova Abibes SRL

Boston Carriers announced that in April 24 2018, the company entered into an exclusivity agreement with Nuova. The agreement provides six months for the acquisition of Nuova and all its assets and liabilities including but not limited to the storage facility in Italy as well as all its business, licenses and trademarks. "Our preliminary assessment of Nuova’s property plant and equipment assets only without including any valuation on the business, licenses and trademarks is approximately…

Photo: Qatar Navigation Q.P.S.C. (Milaha)

Milaha Rolls Out Qatar-Iraq Direct Container Feeder Service

Qatar-based maritime transport and logistics conglomerate Milaha has announced the launch of a direct container feeder service between Qatar and Iraq. The new service, which will be an expansion of the existing Qatar-Kuwait service that the company launched last year, will follow a Hamad Port-Umm Qasr (Iraq)-Shuwaikh (Kuwait)-Hamad Port rotation, and will be initially served by one vessel with a 1,015 TEU capacity and 110 reefer plugs. The service will have a transit time of 2 days…

Photo: APM Terminals

South Asia Gateway Terminal Welcomes ONE Service

Singapore-based Ocean Network Express (ONE) has introduced its new EC5 route calling at the Port of Colombo, Sri Lanka. Headquartered in Singapore, Ocean Network Express was established on July 7, 2017 through the integration of 'K' Line, MOL and NYK. It’s new EC5 service was launched on April 23rd at the South Asia Gateway Terminal (SAGT) at the Port of Colombo. South Asia Gateway Terminal (SAGT), is owned by a consortium of local and global companies, including APM Terminals, which holds a 33% share. Opened in 1999,  it was Sri Lanka’s first private terminal.

Eco Fleet. Photo: Top Ships

Top Ships Extends Time Charter of M/T Eco Fleet

Top Ships, an international owner and operator of modern, fuel efficient "ECO" tanker vessels focusing on the transportation of petroleum products, announced that it has extended the firm period of the time charter of M/T Eco Fleet with BP Shipping Limited for six months. Following the signing of the above mentioned time charter party extension, the Company’s charter coverage is 100% of the operating fleet including vessels partly owned through joint ventures in the year 2018. The charter coverage of the operating fleet  for the years 2019, 2020 and 2021 will be 83%, 65% and 20% repectively.

© RENE HENRI ROSSEEL/ MarineTraffic.com

Capital Products Acquires M/T Anikitos

Capital Product Partners L.P. has announced that it has completed the previously announced acquisition of the M/T Anikitos, an eco-type MR product tanker (50,082 dwt IMO II/III Chemical Product Tanker built 2016, Samsung Heavy Industries (Ningbo) Co., Ltd.) for a total consideration of $31.5 million from Capital Maritime & Trading Corp.The Partnership funded the acquisition of the M/T Anikitos with the net proceeds received from the sale of the M/T Aristotelis, available cash and the assumption of a term loan under a credit facility with ING Bank NV of approximately $15.6 million.

Could US Sanctions Hit Iranian Crude Exports?

Oil prices are at more than three-year highs, driven by an expectation that renewed U.S. sanctions on Tehran over the country's nuclear program will disrupt Iranian crude flows.But without the Europe Union, or Iran's other big crude customers, joining the effort, as the EU did in 2012, it will be harder for Washington to hit Iran where it really hurts.U.S.

© anekoho / Adobe Stock

China'a April Exports Stronger than Expected

China's exports rebounded more strongly than expected in April after a surprise drop the previous month, suggesting global demand remains relatively resilient and providing a cushion to the economy amid a heated trade dispute with the United States.Imports in April also grew more robustly than anticipated, signalling China's domestic demand is holding up well, good news for policymakers looking to soften the blow from any trade shocks.China's April exports rose 12.9 percent from a year earlier…

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Trade War All About the Eastbound Transpacific -BIMCO

When two of the world’s top trading partners get entangled in a stand-off, where the outbreak of a trade war could become the extended tool of intense negotiations, BIMCO says we’d better prepare for what may come while hoping that it will never take place.The U.S. is China’s largest trading partner measured by value – and China is the largest one-country trading partner that the U.S. has.“The global shipping industry naturally gets concerned when two nations of huge importance to most shipping sectors get in the ring to fight a trade war – gloves off…

New rail freight service launched at Port of Liverpool. (Photo: Peel Ports)

Peel Ports Launches Rail Freight Service

A new rail freight service for containers has left the Port of Liverpool for the first time, thanks to a partnership between Peel Ports and rail freight company DB Cargo.The new service provides shipping lines, forwarders, tank operators and cargo-owners with a seamless route between the quayside at Liverpool and Scotland, in turn minimizing congestion around the Port of Liverpool. Metro Mayor Steve Rotheram officially launched the departure of the inaugural journey on Tuesday 8 May…