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.: 25-Jun-2019 :.
Displaying 1 to 12 of Records.
Page 1 of 1
1
Drewry: Shipping Industry s Benefits from US-China Trade War
Escalating trade hostilities between the US and China spells bad news for the Transpacific container trade but should also result in higher volumes of intermediate goods, according to shipping consultancy Drewry.
Potential losers in this trade war will be those countries that provide the raw materials and semi-finished goods to China that go into the re-export of the final products to the US. The US itself could suffer as China uses up some of its exports for re-exports, the consultancy explained.
China has developed its manufacturing capacity to such an extent that it barely needs inputs from the rest of the world to support its exports, which should limit the collateral damage.
Drewry noted that China s hogging of production is partly responsible for the slowdown in world trade witnessed in the past few years and its ever-growing self-sufficiency diminishes the fears of the spill-over effects from the trade war on global container flows.
"This should be a fairly isolated affair with the Transpacific bearing the brunt, compensated to some degree by trade diversion."
However, Drewy explained that this does not mean the end of China s export dominance.
"While we do foresee some erosion of its market share in outbound container flows to the US, the sheer size of its export machine means that it cannot be replaced overnight. China was responsible for around one-third of all US finished goods imports last year, when measured in bilateral trade, twice as much as the rest of East Asia combined."
Summarizing, Drewry said that some short-term disruption to the container market is expected as new trading links are developed, but further fragmentation of production would boost the need for shipping, assuming demand levels are sustained.
"For the foreseeable future China will remain the world s container export hub, albeit a slightly smaller one."
Posted On:
25-Jun-2019
Maersk to Address Overbookings with New Digital Product
Danish shipping giant Maersk has introduced Maersk Spot, a new fully digitally enabled, online product that can break the cycle of overbookings and offer a much simpler way to ship a container with load guarantee.
With the launch of the new product, Maersk said it takes further steps towards simplifying the supply chains of its customers by addressing some of the fundamental inefficiencies that exist across the industry.
"It is not uncommon to see overbookings to the tune of 30%, and often this leads to rolling of the customers cargoes since there is overbooking to compensate for the high downfall. This creates a lot of uncertainty for our customers," Silvia Ding, Global Head of Ocean Products at Maersk, explained.
"With Maersk Spot, we provide full visibility of the price and terms that will ensure cargoes get on board. Ultimately allowing customers to move their cargo in a much simpler and more reliable way," Ding added.
With Maersk Spot, customers can search and get rates online 24/7, according to the company. The all-in price is calculated and fixed when the booking is confirmed, which happens instantly. This dynamic online pricing fixed at booking creates one transaction for the customer from quotation to booking confirmation, simplifying the buying process.
"Maersk Spot … simplifies the buying experience for our customers. Today s offline process can be up to 13 individual steps, often involving a lot of communication and paper work from rate sheets to terms and conditions and surcharges, etc. With Maersk Spot, this cumbersome process is reduced to five simple and integrated steps - all online," Ding further said.
Specifically, when a booking is confirmed by the customer, Maersk commits to load and grants certainty in operational execution. This is a mutual commitment between the customer and Maersk which ensures that the vicious cycle of overbookings is addressed. In case of booking cancellations, fees apply at the customer’s charge. If cargo is rolled, Maersk compensates the customer.
As informed, the mutual commitment paired with increased visibility of sailings and certainty of prices has been to date embraced by more than 3,000 customers each week, with already over 50,000 Forty-Foot-Equivalent (FFE) units booked in Q2.
Maersk Spot is now available on all trades, except in and out of US. Currently available as BETA site, the product will be implemented on Maersk website at the beginning of August.
Posted On:
25-Jun-2019
Blockchain Consortium to Curb Dangerous Goods Misdeclaration
Maritime Blockchain Labs (MBL), founded by BLOC and the Lloyd’s Register Foundation (LRF), has established a consortium to explore the use of blockchain in tackling the significant risks and challenges associated with the declaration and handling of dangerous goods.
The consortium would explore the use of digital tools for traceability of dangerous goods cargo, and immutable attestations and digital audit trails for due diligence with a view to generating more transparency and accountability in tracking dangerous goods; ultimately, reducing incidents.
According to the Cargo Incident Notification System (CINS), nearly 25% of all serious incidents onboard containerships were attributable to misdeclared cargo.
The MBL consortium would build and test a prototype to assess the potential for distributed ledger technology (DLT) to address the challenges faced by stakeholders throughout the supply chain.
Funded by LRF and conducted in partnership with Rainmaking, the consortium includes Copenhagen Malmö Ports (CMP), Flexport, X-Press Feeders, SecureSystem, DSV, PSA, Port+, Agility and MTI. It represents stakeholders throughout the value chain, from ports, to carriers, to technology and service providers.
"The global economy is a highly interconnected machine, and with container ships transporting more than 90% of non-bulk cargo worldwide, this machine only operates efficiently when the shipping and logistics components operate efficiently," Deanna MacDonald, CEO and Founder of BLOC, said.
While the exact breakdown of cargo contents varies by container, between 5-10% of an average container ship s cargo is declared as hazardous goods and around 12% of global container trade comprises dangerous goods. However, it is nearly impossible to know how much dangerous cargo is undeclared or misdeclared.
The parties said that the demonstrator project will run until September, 2019.
Posted On:
25-Jun-2019
Incat Crowther to Design New Ferry for Korea
Australian ship designer Incat Crowther has secured a contract to design a catamaran passenger ferry for operation in Korea.
The Incat Crowther 65 will be built by shipbuilder Khan, based in Geoje-si, Korea, and operated by Dolphin Shipping.
Posted On:
25-Jun-2019
Int l Tribunal: Switzerland Seeks Release of Tanker, Crew Detained in Nigeria
Switzerland has requested the International Tribunal for the Law of the Sea (ITLOS) to order the release of a Swiss tanker and its crew detained in Nigeria since early 2018.
The public hearing concerning the arrest and detention of the tanker San Padre Pio, its crew and cargo took place on June 21 and 22, 2019.
Posted On:
25-Jun-2019
Meyer Werft Delivers New Cruise Ship to Saga
German shipbuilder Meyer Werft has handed over Spirit of Discovery to the British cruise company Saga Cruises.
The delivery ceremony for the 236-meter-long newbuild, which is intended for the British market, took place on June 24.
Posted On:
25-Jun-2019
Autonomous Vehicles In Ports: Expectations And Requirements
The Port Planning and Development Committee of the International Association of Ports and Harbors IAPH has asked itself what impact the development of autonomous vehicles will have on ports.
Posted On:
25-Jun-2019
Credits:
www.bunkerportsnews.com
Making Chinese investment in African ports work despite risks
The value of goods exchanged between China and Africa exceeded more than $200 billion (€177 billion) in value last year, making it the continent’s largest trading partner. The vast majority of these were shipped - more than 90% of Africa’s exports travel by sea.
But African shipping costs are high, ranging from 1.5 to 3.5 times more to transport a single container via sea than in other regions with high trade volumes, according to a recent report by PricewaterhouseCoopers (PwC).
Posted On:
25-Jun-2019
Credits:
www.bunkerportsnews.com
Japan reaffirms commitment to develop East Container Terminal
Dr. Hiroto Izumi, the Japanese Prime Minister s Special Advisor, reaffirmed his Government s commitment to develop the East Container Terminal of the Colombo South Harbour as a joint venture partnership of Sri Lanka and India, at a meeting he had with Prime Minister Ranil Wickremesinghe recently.
Prime Minister Wickremesinghe met Dr. Hiroto Izumi, the Japanese Prime Minister s Special Advisor, Akira Sugiyama, Ambassador of Japan and his team at Temple Trees.
Posted On:
25-Jun-2019
Credits:
www.bunkerportsnews.com
Mombasa Port continues to record incredible cargo handling statistics
The Port of Mombasa has continued to record exceptional performance at its container terminal.
Container carrier, MV X Press Kilimanjaro docked at the facility on Friday at 16.45 hrs with 1,887 import containers and planned to load 1,914 export containers.
By 0700hrs Saturday morning (after 14.25 hrs),the vessel had registered a total of 2,344 moves at 165 moves per hour.
Posted On:
25-Jun-2019
Credits:
www.bunkerportsnews.com
Port of Rotterdam Authority to collaborate with four new companies
During the finale of the 4th edition of the annual innovation programme PortXL, the Port of Rotterdam Authority signed individual Letters of Intent with four enterprising new companies that are expected to help make the port more sustainable, more efficient and smarter . The firms in question are Richtlijn Geodesie, Flower Turbines, Ladar Ltd and Planys Tech.
Posted On:
25-Jun-2019
Credits:
www.bunkerportsnews.com
"Market based and technological developments in the shipping sector and technological innovation represent major challenges for the port sector" says an EU funded study
In June 2013, ETF, IDC, FEPORT and ESPO established, with the support of the European Commission, the Sectoral Social Dialogue Committee for ports (SSDC for Ports).
In order to feed their discussions about the current challenges faced by the port sector, ETF, IDC, FEPORT have requested and obtained funding from DG Employment to commission a study about the socio-economic impact of technological innovation and market-based developments in shipping on the port sector.
Posted On:
25-Jun-2019
Credits:
www.bunkerportsnews.com
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