Shipping Losses Continue to Fall
Large shipping losses have declined by 38 percent overall in the past decade, according to the Safety & Shipping Review 2018 by Allianz Global Corporate & Specialty (AGCS).Further, the number of total losses declined by 4 percent to 94 last year, the second lowest number in a decade.“Insurance claims have been relatively benign, reflecting improved ship design and the positive effects of risk management policy and safety regulation over time,” says Baptiste Ossena, Global Product Leader Hull & Marine Liabilities…
Yang Ming Marine Transport Upgrade China-Indonesia Service
Taiwanese ocean shipping company Yang Ming Marine Transport Corp. (YM) will upgrade its China to Indonesia Service (CTI service).Four container vessels of nominal 4,250TEU will be deployed for the service effective on 7th August 2018.They will serve customers not only from Central & South China to/from Jakarta & Surabaya but also provide direct service from Davao to Kaohsiung & China.The CTI service will make a round voyage in 28 days. The rotation of ports of call are: Shanghai–Ningbo–Shekou–Jakarta–Surabaya–Davao–Kaohsiung– Shanghai.
Severstal Does Not Expect Major Impact from EU's Steel Curbs
Russian steel producer Severstal does not expect the European Union's curbs on steel imports to have a substantial impact on its financial performance as its distribution mechanism is flexible, the company said on Wednesday.Severstal plans to continue supplying steel to European consumers as part of announced quotas, it added.The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States would instead flood European markets.Reporting by Polina Devitt
Liverpool2 to Receive New Container Services
Peel Ports’ flagship deep-water container terminal, Liverpool2, will welcome its largest regular caller to date when 2M (Maersk and MSC alliance) introduce a new transatlantic container service to the port beginning July 22, 2018.2M is switching its TA2 service from Felixstowe to Liverpool on a temporary basis. At the same time, Maersk Line’s South American service, Colombia Express, will also start calling at the port of Liverpool, exporting UK goods to Newark.Liverpool will be the final port of call for both weekly services as they head westbound across the Atlantic.
EU to Curb Steel Imports after Trump Tariffs
The European Union will launch measures on Thursday designed to prevent a surge of steel imports into the bloc following the U.S. imposition of tariffs on incoming steel and aluminium, the EU's official journal said.The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States would instead flood European markets.The measures are the third part of the EU's response to U.S. tariffs. It has also imposed tariffs on 2.8 billion euros ($3.3 billion) of U.S.
Vitol Invests in Coal-to-oil Venture as Shipping Fuel Rules Loom
Energy trader Vitol and coal miner Peabody Energy are partnering with start-up Arq to turn coal waste into a low-sulphur oil product that could be an alternative fuel for shippers as new U.N. pollution rules loom, the companies said in a statement.Global oil and shipping companies are looking at any and all options to avoid becoming a casualty of the major market dislocations that the new standards will create when they come into effect in 2020.The U.N. International Maritime Organization (IMO) will ban ships using fuel with a sulphur content higher than 0.5 percent…
Scorpio Tankers Sells, Leaseback Seven Product Tankers
Scorpio Tankers announced that it has agreed to sell and leaseback six MR product tankers (STI San Antonio, STI Benicia, STI St. Charles, STI Yorkville, STI Mayfair and STI Duchessa) and one LR2 product tanker (STI Alexis) to an international financial institution.The international provider in the transportation for refined petroleum products said that upon completion, its 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…
As Trade War Escalates, China's Steel Exports are Rising
The European Commission will this week unveil its proposed provisional "safeguard" measures to limit steel imports in response to the imposition of 25 percent tariffs on steel imports by the United States.The European Union fears that the U.S. tariff barrier will simply divert more steel into its marketplace. Others are equally concerned, with India also planning its own "safeguards".Such is the ripple effect of tariffs. Walls beget more walls.As the steel trade war heats up,…
APL Adds Port Calls to West Asia Express Service
Ocean carrier APL announced that the West Asia Express (WAX) service will be calling the additional ports of Xingang, Busan and Sohar as part of its service rotation, expanding coverage between the Far East and Middle East.According to APL, the WAX service will offer unparalleled transit time from Asia to the key Gulf ports of Sohar, Jebel Ali and Dammam. Shippers will also gain direct access to Sohar from Qingdao; as well as to Dammam and Doha from Xingang.The updated WAX service…
Low Water Levels Hinder River Shipping in Germany
Water levels on the Rhine and Danube in Germany remain low after recent dry weather and cargo vessels cannot sail fully loaded on some sections of the rivers, traders said on Monday.The Rhine is too shallow for normal sailings from Cologne to south Germany, traders said. All of the German section of the Danube is too shallow for full loads, they said.Shallow water means vessel operators impose surcharges on freight rates, increasing costs for cargo owners.The Rhine is an important shipping route for commodities including grains, minerals, coal and oil products including heating oil.
d'Amico International Shipping Sells MT High Trust
Luxembourg-based d’Amico International Shipping announced that its operating subsidiary d’Amico Tankers signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Trust for a consideration of US$ 29.5 million. The marine transportation company operating in the product tanker market said that High Trust is a 49,990 dwt medium-range product tanker vessel, built in 2016 by Hyundai-Mipo, South Korea. Thistransaction allows d’Amico Tankersto generate at the vessel’s delivery around US$ 11.9 million in cash…
Powering Ships with Plastic in Amsterdam
In the Port of Amsterdam, a new factory is being built that could revolutionize the way we dispose of plastic waste. Utilizing groundbreaking technology, the facility will use previously unrecyclable plastic to create fuel for diesel powered cargo ships. The group behind the facility is Bin2Barrel, a Dutch company founded in 2012 by waste management entrepreneurs Floris Geeris and Paul Harkema. While the chemical recycling technology used in the past has worked, Bin2Barrel is the first company to utilize it commercially.
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"…
d'Amico International Shipping Sells Handy Vessel Cielo di Milano
d’Amico International Shipping nnounced that its operating subsidiary d’Amico Tankers (Ireland) signed a memorandum of agreement for the sale of the MT Cielo di Milano, a 40,081 dwt handy product tanker vessel, built in 2003 by Shina Shipbuilding, South Korea for a consideration of US$ 8.025 million. This transaction allows d’Amico Tankers to generate around US$ 2.4 million in cash, net of commissions and reimbursement of the Vessel’s existing loan, contributing to the liquidity of the international marine transportation company operating in the product tanker market.
North P&I Club, 24Vision Sign Partnership Agreement
North P&I Club and 24Vision announced today that they have entered into a partnership agreement, with effect from 1 July 2018, to provide P&I insurance to charterers and small ship operators. As part of 24Vision’s wider service proposition to their marine industry clients, the partnership agreement provides for North P&I Club to be the insurance carrier for 24Vision’s marine liability products. “An alliance with North P&I Club puts us in an excellent position to provide our clients with top-rated security,” says Rocco Bozzelli, Managing Director of 24Vision Insurance Solutions.
OTCGH Announces Freight Forward Curves
OTC Global Holdings LP (OTCGH), an independent interdealer broker in over-the-counter commodities, has announced the availability of its latest data product, Freight Forward Curves powered by EOXLive.The Freight Forward Curves provide an independent market valuation tool to support investment and trading decisions in freight markets across the globe. As with all OTCGH Market Data products, the product draws from the deep liquidity of OTCGH’s breadth of brokerages and leverages…
New Premises for Damen Marine Components
Damen Marine Components Netherlands (DMC NL) has laid the first foundations for its new premises in Hardinxveld, the Netherlands. Construction of new buildings reflect growth potential following company merger. With capacity for approximately 80 people, the new buildings will be used for both offices and production purposes. With construction of the new buildings beginning as the first foundation pile was driven into the ground on the site of DMC former head office, the company’s motivations to build new premises were twofold.
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.
China Will Hit Back After New US Tariffs
China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.China's commerce ministry said on Wednesday it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S. actions "completely unacceptable".The foreign ministry described Washington's…
Panama, China Start Free Trade Talks, Eye Regional Hub
Panama and China opened free trade talks on Monday with the aim of crafting an agreement that could turn the Central American country into a hub for Chinese goods across Latin America.Panama’s Minister for Trade and Industry Augusto Arosemena said the first round of talks would last until Friday, July 13, and establish the basis for the rest of the negotiation.Traditionally close to Washington because the U.S.
BW Group Acquires Higher Stake in Hafnia Tankers
BW Group has entered into a definitive agreement to buy a 36.3% stake in Hafnia Tankers, a shipping company formed by the management team of former Tankers Inc. The majority of the shares will be acquired through BTS, a collaboration between Blackstone-managed funds, Tufton Oceanic and Hartmann, and the balance purchased directly from certain Blackstone-managed funds. ombined with recent purchases from other shareholders, BW Group will own 43.5% of Hafnia Tankers. Carsten Mortensen…
THE Alliance Updates Asia-North America West Coast Service
Members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming have announced a services update regarding their Trans Pacific - West Coast products in response of schedule integrity improvement, extensive product enhancement and better cost efficiency. The update of THE Alliance product will feature total six services in Asia/North America West Coast. The PS5 and PS8 services will conjugate into one combined service and cater for customers connecting the key ports of North China, Central China and North America gate ports.
InterManager Secretary General Receives Honorary Degree
Secretary General of InterManager, Captain Kuba Szymanksi, has been awarded the honorary degree of Doctor of Maritime Studies by Solent University. In addition to his role at InterManager, Captain Szymanski sits on the Executive Board of The Nautical Institute, is a Director at TK Foundation, and a Director at Seafarers Rights' International. Captain Kuba Szymanski started his sea career in 1985. He graduated from the Maritime University of Szczecin with a Master's Degree and started his deck officer career with Dorchester Maritime Limited, Isle of Man.
Brazil May Import U.S. Soybeans due to U.S.-China Trade Spat
Brazil, the world's largest soybean exporter, may have to import the oilseed from the United States this year to satisfy demand from local processors, an executive of exporters association Anec said on Thursday. If China's demand for Brazilian soy rises due to a trade war with the United States, local processors may have to resort to importing 500,000 to 1 million tonnes from the United States, Luis Barbieri told an event in Sao Paulo. China has announced 25 percent tariffs on a range of U.S. products scheduled to take effect from July 6.
Global Automakers Hail More Ships as Trade Battles Heat Up
Automakers are scrambling to ship vehicles to the United States to pre-empt possible higher tariffs, according to port data, port officials and logistics companies. Data from a number of U.S. ports showed a surge in vehicle exports and imports in May, as U.S. President Donald Trump ratcheted up pressure on China and Europe to drop tariffs on U.S. vehicles and make other changes to their trade practices. May is the most recent month for which figures are available. The Trump administration's tariffs on $34 billion of Chinese imports are due to go into effect at 0401 GMT on Friday…
Drydocks World Initiates Health Care Campaign
Drydocks World - Dubai organized a health care campaign in cooperation with Al Baraha Hospital and Dubai Health Authority.Employees benefited from medical tests, examinations, information and health advice from doctors and experts at 12 stations covering: safety, nutrition, urology, dermatology, physiotherapy, pharmacy, accident and emergency. This annual health care campaign aims to bring specialist medical services and educational awareness to the yard’s large workforce, in…
KPI Bridge Oil Athens Promotes Chandris
KPI Bridge Oil, a leading global trader and broker in marine fuels, marine lubricants and risk management products, announces the promotion of Isidoros Chandris to Senior Bunker & Lubricant Consultant. Isidoros joined KPI Bridge Oil’s London office as a Bunker & Lubricant Trader in 2014, and relocated to the Group’s Athens office as a Bunker & Lubricants Consultant in 2016. Before joining KPI Bridge Oil, Isidoros spent over four years working as an Offshore shipbroker in Houston and Oslo, and as an Operations Assistant and Bunker Trader in Piraeus, Greece.
Trade Wars Threaten to Derail Container Revival: Drewry
The risk to container shipping from US-led trade wars is currently low, but potentially very damaging, according to the latest edition of the Container Forecaster published by global shipping consultancy Drewry. “In the March report we said that we were hopeful of a peaceful resolution, but at this point in time we must accept that tariffs are going to become a reality. The only question now is: how severe will they be?” said Simon Heaney, senior manager, container research at Drewry and editor of the Container Forecaster.
Hamburg Süd “Top Ranked Carrier” For Third Time in a Row
Hamburg Süd has been a reliable and efficient partner of US shippers of agricultural and forestry products for many years. For its outstanding performance, it was recently honored as “Top Ranked Carrier” for the third year in a row by the Agriculture Transportation Coalition (AgTC), the largest association of exporters of agricultural and forestry products in the United States. The award ceremony was held in mid-June. “Hamburg Süd won’t become complacent just because of the success it has seen so far,” says Jürgen Pump, Senior Vice President of Hamburg Süd North America, Inc.
British Ports Association for Border Continuity
As the UK Cabinet prepares for an away day’ at Chequers this week, the British Ports Association (BPA) has urged Ministers to agree a proposal that will ensure goods continue to flow uninterrupted between UK and EU ports post-Brexit. Commenting on the Government’s forthcoming revised customs ‘blueprint’ proposals the BPA’s Chief Executive, Richard Ballantyne, said: “We are eagerly awaiting the outcome of the Cabinet discussions and forthcoming Brexit White Paper. The UK’s post-Brexit customs relationship with the EU will dictate how almost half of our trade is handled at the border.
Klein Named Carnival Maritime MD
Carnival Maritime GmbH has announced that Dr Hermann J. Klein has been appointed as its new Managing Director, starting September 1st, 2018. Klein is currently Managing Director and Group COO of CPO Holding (Offen Group) in Hamburg, Germany. He will be succeeding Lars Ljoen, who will join Carnival Cruise Lines in Miami, USA, as Head of Marine Operations. Carnival Maritime is the marine service unit for Costa Group with its brands AIDA Cruises, Costa Cruises, and Costa Asia. “Hermann Klein is a long-standing…
MAC to provide Marine Assurance Services for Chrysaor
Maritime Assurance & Consulting (MAC), a Bureau Veritas company, has won a contract from Chrysaor for marine assurance services. The contract also includes engineering, DP assurance, marine warranty surveying (MWS), project assurance and compliance services. Chrysaor is focused on the development and commercialization of dormant oil and gas discoveries and incremental reserves. The company acquired stakes in 10 North Sea fields from Shell last year and was recently granted acreage in the UK’s 30th licensing round.
Contract Win Brings More Manufacturing to Teesside
Middlesbrough freight logistics firm AV Dawson has signed a multi-million dollar deal with a major blue-chip manufacturer, securing new business and jobs in Teesside. AV Dawson has won a contract with British Gypsum, the UK’s market leader for plaster and plasterboard products, to import materials through its site in Middlesbrough. British Gypsum, part of the global Saint Gobain group, is importing a product which is used to make plaster and plasterboard, through AV Dawson’s Teesside freight terminal, based on Riverside Park in Middlesbrough.
ESL Shipping Acquires AtoB@C
Finnish dry bulker ESL ShippingLtd, a shipping company fully owned by Aspo Group, is going to acquire all the outstanding shares of AtoB@C Shipping AB and AtoB@C Holding AB (AtoB@C) that offer shipping services. The enterprise value is EUR 30 million. The final purchase price will be mainly financed by Aspo's existing financing reserves, and approximately EUR 4.2 million will be covered by new shares issued by Aspo Plc. The transaction will require the competition authority's approval in Finland to be completed.
I-Tech AB Opens Stock Exchange
The CEO of I-Tech AB Philip Chaabane rings the bell to open I-Tech’s first day of trading on Nasdaq First North.I-Tech recently completed a share issue for listing on Nasdaq First North. The shares will be traded under the ticker ITECH and ISIN code SE0011167725.I-Tech AB is a public held bio-technology company based in Mölndal, Sweden that owns all IP and regulatory rights to the antifouling agent Selektope (generic name, medetomidine). I-Tech also controls the largest and most efficient source of medetomidine production.Since 2006…
Evergreen Strengthens Asia – East Africa Service
In order to meet increasing and diverse market demands, Evergreen Line has announced enhancements to its current Asia – East Africa service (AEF) – adding to its direct calls in Central & Southern China. Five vessels are currently deployed on the AEF service – three operated by Evergreen Line, the remaining two by COSCO and X-Press Feeders. To accommodate the extended service to China, Evergreen Line and COSCO will each provide one more vessel. As such a total of seven ships with an average capacity of 4,200 TEU will be utilized with a service rotation of seven weeks.
Customers Not Happy with Service Quality of Ocean Carriers
The service provided by container shipping lines has deteriorated since 2016 and is now seen by exporters, importers and freight forwarders as more problematic, according to the second annual shipper satisfaction survey of Drewry and the European Shippers’ Council (ESC). The joint ESC and Drewry survey reveals that the 400 shippers and forwarders who took part rated the service of container shipping lines with a score of 3.2 on average on a scale of 1 (very dissatisfied) to 5 (very satisfied).
BRP Marine Group Created With Evinrude, Alumacraft
Evinrude has announced that it is now a part of the newly established BRP Marine Group. Tracy Crocker, Senior Vice-President and General Manager of Evinrude since 2017, has been appointed President of the Group, effective immediately. Crocker will be responsible for the strategic direction and operations of the BRP Marine Group while maintaining his active role at Evinrude. Evinrude, an outboard engine manufacturer that developed the first commercially viable outboard engine in 1909, will join Alumacraft, a 70-plus year-old manufacturer of aluminum fishing boats which was acquired today.
Fraser to Head DNV GL’s Noble Denton Marine Services
DNV GL has appointed Neil Jamieson Fraser as its new head of Noble Denton marine services in the UK and West Africa. The role will focus on marine warranty, marine advisory/assurance, technical assurance, and advanced engineering services. Fraser has worked with DNV GL for more than 25 years and has held a number of senior positions within the company in the UK, West Africa and most recently, in South America. He recently returned to the UK after nearly four-years based in Rio…
Fincantieri Bay Shipbuilding to Build 740ft Self-Unloading Great Lakes Barge
Fincantieri Bay Shipbuilding has signed an agreement with VanEnkevort Tug & Barge, Inc. to construct a new self-unloading barge for transportation of bulk products throughout the Great Lakes region. Measuring 740 feet in length (78 feet W, 45 feet H, 37,512 DWT), the vessel will be constructed in Sturgeon Bay, Wisconsin. VanEnkevort Tug & Barge, Inc. (VTB) of Escanaba, Michigan is a growing company operating three articulated tug and barges (ATBs) on the Great Lakes. This newest…
Xeneta Rolls-out Container Shipping Index
Xeneta, the leading ocean freight rate benchmarking and market intelligence platform, is launching a product offering that aims to transform the way shippers, freight forwarders and carriers conduct freight rate negotiations. The Oslo headquartered firm has created a new offering, Xeneta Shipping Index (XSI) that allows all parties to set rates at transparent, efficient and fair prices that directly follow market fluctuations. This ensures all stakeholders get the right price for their products and services, relationships are improved and complex, time-consuming negotiations become efficient.
Foss Maritime Centralizes Ops with Helm
Foss Maritime will centralize fleet management and operations with Helm CONNECT. The announcement comes as Foss progresses to better organize and streamline operations across core business units and wholly-owned subsidiaries along the U.S. West Coast, and in Hawaii and Alaska.As part of the agreement with Helm Operations, Foss will centralize its vessel dispatching, billing, maintenance, compliance and personnel management in the Helm CONNECT software platform.“At Foss, we’re constantly looking at new ways to improve our business.
TNPA Focuses on Ship Repair
Transnet National Ports Authority (TNPA) appointed Preston Khomo, previously Richards Bay Port Manager, as Executive Manager: Ship Repair, to manage and administer the organization’s ship repair resources nationally.Thamsanqa (Thami) Sithole has been appointed as the new Port Manager for Richards Bay. Both appointments are effective July 1.Khomo joined TNPA in 2004 as Head of Infrastructure Development: Port Operations and Consulting at Portcon (the then international arm of Transnet)…
Former AWO Chairman Earns Public Service Award
The Coast Guard recently awarded Mr. James Farley a Meritorious Public Service Award in recognition of his outstanding contributions to navigation safety, environmental stewardship and homeland security during his decades-long involvement with the American Waterways Operators (AWO). This award is the Coast Guard’s second highest public service award, and was presented at the annual AWO business meeting in Washington, DC, in April. Mr. Farley was applauded in a citation accompanying…
U.S. Coal Cargo Reaches China, Beating Import Tariff Deadline
A vessel carrying 164,000 tonnes of coal from the United States reached Caofeidian port in northern China on Tuesday, Thomson Reuters Eikon ship tracking data showed. The vessel named Partnership is on schedule, while Beijing plans to impose steep tariffs next month on a list of U.S. At least three U.S. The other two vessels, Navios Taurus and West Trader, are expected to arrive at Jingtang port on July 18 and Aug. 10 respectively, according to Eikon data.
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.
BNSF: Crude Rail Service Could Resume Tuesday
BNSF Railway Co on Monday said it could resume service Tuesday on a stretch of northwestern Iowa track damaged when a train left the track and crude oil spilled from derailed cars. The crude oil train derailed near Doon, Iowa, on Friday sending 32 rail cars off the track and spilling an estimated 230,000 gallons of oil into flood waters and toward a nearby river. Crews are nearly finished removing oil from damaged cars and repairing tracks, BNSF said in a statement. Its crews are using booms to contain the oil and skimmers to remove it from the waters…
China to Cut US Oil Imports Amid Trade Spat
Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said.Beijing has put U.S. energy products, including crude oil and refined products, on lists of goods that it will hit with import taxes in retaliation for similar moves by Washington.Beijing did not specify when it will impose a 25 percent tax on oil…
Partners Unveil New Digital Operations Tool
Navigation solutions provider Marine Press, environmental product and services company Total Marine Solutions and maritime software and technology firm Brenock have partnered to advance digital transformation in the maritime industry.In an exclusive arrangement announced today at Marine Money, Marine Press will offer Total Marine Solution’s Ocean Guardian as an embedded software in its SeaPassage suite of integrated e-navigation solutions.“Bringing Ocean Guardian to Marine Press clients is a significant step forward in transforming the industry.
RoRo Vessel Transports a European Space Agency Satellite
On June 15, 2018 at the Montoir de Bretagne roro terminal, an AEOLUS satellite designed by Airbus Space and Defense for the European Space Agency was loaded aboard the ro-ro vessel Ciudad de Cadiz, bound for Kourou, in French Guiana. Managed by the Louis Dreyfus Armateurs Group and chartered to the Airbus Group, the Ciudad de Cadiz usually transports aircraft sections and components, so the loading of the satellite expands its range of industrial cargo. This is the first time that an aerospace industry product will have transited the Port of Nantes − Saint Nazaire…
‘Cool Port’ Barge Service at Rotterdam
The logistics surrounding the Port of Rotterdam are daunting. Eight deep sea terminals; 600 barges with 150 different owners; some 150,000 shippers from across Belgium, the Netherlands and Germany all relying on the port. The result is a fragmented and complex area - which especially affects the delivery of fresh produce. Delivering fresh fruit, vegetables and other goods demands efficient, timely and reliable logistics chains. From the terminals to the importers' distribution centres to the local European consumers, clean lines of delivery are key.
What Can Beijing Do if China-US Trade Row Worsens?
China and the United States sank into a deepening trade conflict that roiled financial markets Tuesday after U.S. President Donald Trump threatened to impose tariffs on an additional $200 billion of Chinese products, prompting Beijing to accuse Washington of starting a trade war.Trump said Monday his threat was retaliation for China's decision to raise tariffs on $50 billion of U.S. goods over the weekend, a move that itself was in response to additional U.S. tariffs on Chinese…
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.
China to Impose 25% Tariffs on 659 US Goods
China will impose additional 25 percent tariffs on 659 U.S. goods worth $50 billion in response to the U.S. announcement that it will levy tariffs on Chinese imports, the Chinese commerce ministry said.Tariffs on $34 billion of U.S. goods including agricultural products such as soybeans will take effect from July 6, the ministry said. Soybeans are China's biggest import from the United States by value.The tariffs will also be applied to autos and aquatic products, the ministry said.The list of 659 U.S.
INTTRA Sets Record Transaction Volume
Ocean shipping electronic marketplace INTTRA announced that May 2018 was a record month with more than four million requests for container bookings or shipping instructions processed on its platform.It was the first time in its 17-year history the company eclipsed four million requests in a single month as shippers and carriers increasingly embrace digitalization to drive efficiency, visibility, and connectivity across the container freight supply chain. “INTTRA continues to have strong momentum,” said John Fay, CEO of INTTRA.
Bolidt Eyes Polar Cruise Sector
Bolidt Synthetic Products & Systems' position for decking and flooring in mainstream cruise ship and superyacht markets has been quickly converted into a series of business wins in the fast-emerging polar expedition cruise ship sector.The most recent contract for the Dutch manufacturer’s hardwearing, environmentally friendly and visually attractive products covers the Hurtigruten newbuildings, Roald Amundsen and Fridtjof Nansens, two hybrid propulsion expedition cruise ships under construction at Kleven shipyard in Norway.
APM Terminals' New Gateway to Iraq
New pre-arrival clearance protocols and reduced terminal handling charges for containers in transit, mean that Jordan’s deep-water Aqaba Container Terminal (ACT), located on the Red Sea, is now a realistic alternative maritime gateway for Iraq-bound cargo. Containers imported into Iraq will no longer have to be trans-loaded onto new trucks as they cross the Jordanian/Iraqi border. “The Aqaba Container Terminal has been working hard over the years to develop a competitive gateway to Iraq," says ACT Managing Director Steven Yoogalingam.
Monjasa Acquires Bunker Supply Vessel for English Channel Operation
Monjasa acquires the 3,600 DWT tanker, MT Fredericia for continued bunker operation in the English Channel. Leading up to the acquisition, the vessel has been on time charter by Monjasa for several years and the ceaseless high performance of the vessel now leads to definitive Monjasa ownership. In 2016, Monjasa established a niche market in the English Channel as an alternative for shipowners and operators taking bunkers in the ARA hub. In this setup, MT Fredericia plays a significant role and currently performs exclusive bunkering operations in the Portland…
International Seaways Completes Acquisition of Six Euronav VLCCs
US-based tanker shipping company International Seaways (INSW) has completed the acquisition of six 300,000 dwt very large crude carriers (VLCCs) from Euronav NV. The tanker company providing energy transportation services for crude oil, petroleum products and liquefied natural gas announced in a press release that it has completed its previously announced acquisition of six 300,000 DWT VLCCs for a purchase price of $434 million, inclusive of assumed debt, from Euronav. The six vessels have an average age of two years and include five 2016-built VLCCs and one 2015-built VLCC…
Rotterdam Joins Start-ups for Port of the Future
The Port of Rotterdam Authority has signed partnership agreements with four recent participants in the annual PortXL innovation programme. The products developed by these promising start-ups range from compact tulip-shaped wind turbines to blockchain applications for freight tracking. Together with 10 other start-ups and scale-ups, these companies took part in this year’s PortXL innovation accelerator programme, which brings innovators from all over the world to Rotterdam to further develop their technologies.