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.: 4-Apr-2019 :. Search News
Displaying 1 to 14 of Records.
Page 1 of 1
 1  

OOIL, JD Logistics to Jointly Invest in Eshipping
Orient Overseas International Line (OOIL) has signed a deal with COSCO SHIPPING Logistics and JD Logistics to jointly invest in online logistics platform Eshipping.
The agreement, reached on March 29, would see JD Logistics, OOIL s subsidiary Gold Talent and Cosco Shipping Logistics form a joint venture for the acquisition of COSCO s online logistics platform, established in July 2014.
Gold Talent and Cosco Shipping Logistics would subsequently transfer their share in Eshipping into the joint venture, while JD Logistics would provide a capital injection and logistics assets.
The parties plan to establish the JV in Shanghai with an initial registered capital of CNY 255 million (USD 37.9 million). It is subject to approvals by relevant authorities in China.
Once the transaction is finalized, JD Logistics and its affiliate JV ESOP would hold a 56% stake in the JV, while Gold Talent and Cosco Shipping Logistics would have 22% and 18%, respectively.

Posted On:4-Apr-2019



ICS: 10 Years after Downturn, Oversupply Still a Major Challenge
Avoiding overcapacity and unsustainably low freight rates is still a major challenge ten years after the massive downturn of 2008, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS), stated.
"In that time shipping companies needed to show restraint when ordering new ships, to prevent stifling recovery," Bennett said.
"Yet the dark clouds of protectionism and slowing growth in key economies mean that the avoidance of overordering is now more important than ever."
Bennett addressed an audience of shipowners and operators at the Global Maritime Summit 2019 held in Istanbul on April 3. The summit was organized in conjunction with the Turkish Chamber of Shipping.
He acknowledged that individual operators would legitimately make their own individual business decisions regarding new tonnage.
"Opinion is still divided on whether the rapid globalisation that has been experienced in the last thirty years may have run its course, and whether the slower rate of trade growth seen since the 2008 crisis represents some kind of permanent structural change," Bennett said.
"Certainly in 2019, the outlook for the global economy and thus demand for maritime transport appears to be worsening," he pointed out.
As informed, ship ordering - in deadweight tonnage - dropped 14% in 2018, about 17% below the average since the 2008 downturn. According to Bennett, this suggests that many shipowners may be resisting the temptation to over order. In early 2019, the global orderbook appeared to be stable at around 10% of the fleet.
However, he noted that the reluctance of governments in Asia to address overcapacity in shipbuilding remains a serious issue.
"As well as the temptation to over order, decisions about when to recycle older ships are also fundamental to the equation. The good news is that a number of important regulatory uncertainties which have complicated decisions about when best to dispose of older ships are finally being resolved," Bennett added.
"In particular this includes the implementation dates of the IMO Ballast Water Management Convention. And while the precise cost of compliance with the IMO sulphur regulations is still unknown, the situation should become clearer after January 2020 now that IMO has confirmed that the implementation date of the global sulphur cap is irrevocable."
ICS is also encouraged by the decision in 2018 by the Organization for Economic Co-operation and Development (OECD) to resume negotiations on an agreement to remove market-distorting measures from shipbuilding that contribute to overcapacity. However, it remains to be seen whether China - which is not an OECD member - will take an active part.
"Notwithstanding the risks of uncertainty in the immediate years ahead, in the long term there is always cause to remain optimistic," Bennett said.
"The UN has revised its projections for population growth upwards to an incredible 8.6 billion in 2030 from 7.7 billion in 2018. Combined with seemingly unstoppable demand for higher living standards in emerging economies, this indicates that long term demand for international shipping should continue to increase significantly," he concluded.

Posted On:4-Apr-2019



Maritime NZ: Bulker Captain Charged over Safety Breaches
Captain of the Panama-flagged bulk carrier Spinnaker SW has been charged over unsafe work practices.
On March 29, Maritime New Zealand charged Captain Jianxi Chen with permitting dangerous activity involving ships or maritime products under section 65(2) of the Maritime Transport Act 1994.
Namely, the Captain allowed the ship s crew to load a cargo of logs onto the Spinnaker SW without the use of personal protective equipment or systems to prevent falls from height, bringing the seafarers in danger.
He pleaded guilty to the offence and was sentenced in the District Court at Timaru. Chen received a fine of NZD 6,000 (around USD 4,000).
The bulker was detained on March 25, 2019 at Bluff, the South Island, after Maritime NZ discovered that the crew were working at height without any fall protection in place.
"It was disappointing to find that the crew on the vessel were still working at height without safety lines or harnesses. The Maritime Officer then took immediate action escalating previous compliance actions and detained the vessel to further investigate the issues," Domonic Venz, Maritime NZ Acting Regional Compliance Manager (Southern), said.
A Port State Control Officer inspected the vessel a day after it was detained and found deficiencies in their practices, leading to the bulker being further detained under the Maritime Transport Act section 55.
On March 30, the ship passed the independent International Safety Management (ISM) audit and the port State Control officer released the vessel.

Posted On:4-Apr-2019



Balearia Carried Over 4 Mn Passengers in 2018
Spanish ferry company Balearia carried a total of 4.320,000 passengers in 2018, up by 11 percent year-over-year (YOY).
As informed, the number of passengers exceeded a million on international routes in 2018.
What is more, the company s vessels transported 1.209,000 vehicles on its 23 routes, a YOY increase of 17%.
"The foreign market now accounts for 22% of the Balearia group s overall figures," Adolfo Utor, Balearia s president, explained.
On these lines, passenger growth was 26% while sales exceeded EUR 84 million (USD 94.4 million), a rise of 16%. Half of the group s passengers travelled the lines connecting the Iberian Peninsula to northern Africa; thus, northern Africa is the area where the Valencia-based shipping company is growing the most.
With respect to cargo, which accounts for half ofBalearia s business, Utor indicated that growth was 3.5%, with 5.800,000 linear meters of goods carried.
"Cargo is currently concentrated in the Balearic Islands with 79% of the total but it’s a very mature market meaning growth comes from the rest of the routes," Utor said. He also underlined the cargo port s operational digitization.
"We re at a time of expansion as we also consolidate new routes on the Alboran Sea and around the Canary Islands," Utor further said, referring to the lines created in 2018 through strategic alliances with the shipping companies Maritima Peregar and Fred Olsen. Express.
The high cost of the implementation of the new routes, along with the increased price of fuel in 2018 have caused Balearia s profitability and, thus, the final results to drop, according to Utor.
The shipping company saw a turnover of EUR 381.4 million in 2018, an increase of 5%, On the other hand, EBITDA was 14% lower and amounted to EUR 70.3 million last year. The net profit was 37% lower and stood at EUR 27.4 million in 2018.
Utor predicted this trend would remain steady this financial year while new traffic routes are consolidated and the planned ship engine refittings are completed as they are currently inactive.
The company wants to achieve a sustainable economic growth, which would be compatible with environmental preservation, social inclusion and equal opportunities.
As an example, Utor mentioned the use of liquified natural gas which in 2018 was "Balearia s contribution to the fight against climate change".
"Natural gas is a cleaner energy which goes hand in hand at Baleāria with digitization. They are two strategic lines that perfectly combine in our smart ships," Utor pointed out.
By the end of 2020, Balearia will have nine gas-propelled smart ships, three of which will be newly-built and six of which are already in its fleet, but will have new engines - partially funded by the EU.
With regards to the environment, the shipping company s president noted that "Balearia s sailing in 2018 was more eco-efficient" as the miles sailed by the fleet increased by 13% yet its CO2 emissions only rose by 6.5%. Following the addition of the four eco fast ferries added to the Eivissa-Formentera route in 2018, the ratio of CO2 emissions per mile dropped by 36% in comparison to the fleet operating previously.

Posted On:4-Apr-2019



UAE Bans Two Tankers from its Waters after Illegal Ship-to-Ship Oil Transfers
The United Arab Emirates Federal Transport Authority (FTA) has banned two tankers from entering its waters on the grounds of illegal ship-to-ship oil transfer operations.
The vessels in question are the 1979-built clean product tanker Najdiah and the 2008-built Lady Sara, managed by Global Tankers and represented by Prime Tankers.
According to FTA, the ships carried out illegal ship to ship oil transfer operations in the exclusive economic zone of UAE.
After conducting its investigations, the authority has imposed a fine over the two vessels and banned them from entering UAE waters. What is more, the FTA has warned the companies involved against repeating the actions in order to avoid being banned from operations in the UAE.
According to AIS data provided by Marine Traffic, on April 3, the 4,400 dwt Najdiah was underway off Muscat in the Gulf of Oman, while the data shows that the 6,300 dwt Lady Sara is currently anchored off Sharjah.

Posted On:4-Apr-2019



Seaspan, COSCO Shipping Energy to Jointly Explore LNG Opportunities
Hong Kong-based charter owner and operator Seaspan Corporation has signed a framework agreement for strategic cooperation with China s transportation company COSCO Shipping Energy Transportation.
Under the terms of the agreement, both parties intend to strengthen collaboration on opportunities relating to LNG investments, LNG projects, LNG transportation, ethane transportation, or other related and mutually beneficial projects.

Posted On:4-Apr-2019



Thieves Apprehended for Stealing Oil from Tanker in Nigeria
The Nigerian navy arrested two perpetrators after they boarded a product tanker to steal oil cargo off the Nigerian coast on March 24.
According to a ReCAAP notice, the robbers managed to board the 49,994 dwt Nord Steady and start stealing oil cargo before they were spotted by a duty watch keeper.

Posted On:4-Apr-2019



Vice CEO to Leave Maersk
Vice CEO of A.P. Moller - Maersk and CEO of the Energy division, having successfully concluded the separation of the group s oil and oil-related businesses.
Maersk Tankers, Maersk Oil and Maersk Drilling were separated as part of the transformation initiated in 2016 in order for Maersk to focus on becoming the global integrator of container logistics.

Posted On:4-Apr-2019



Record-Breaking 270,000 cbm LNG Carrier In The Making
Hudong-Zhonghua Shipbuilding, the sole builder of China s large LNG carriers, has teamed up with Norwegian classification society DNV GL for development of what the company said would be the world s largest LNG carrier.
The state-run shipbuilder said on April 2 that it started a joint development project with DNV GL for a 270,000 cbm LNG carrier.

Posted On:4-Apr-2019



Growth in container traffic with German ports reflects strength of Swedish economy
Sweden fills fourth place in the Top Ten of the Port of Hamburg trading partners and is a strong economy. With 11.8 percent growth to 334,000 TEU in 2018, the kingdom made a positive showing among Baltic container traffic services. Sweden actually ranks second among trading partners in Europe. With the advance based on loaded boxes, the process of catching up is already in its second year.

Posted On:4-Apr-2019



Credits: www.bunkerportsnews.com

Harbor Star seals deal with grains terminal
Harbor Star Shipping Services, Inc. said it inked a deal to provide harbor assist services to vessels calling at a grains terminal in Bataan.
The listed tugboat and cargo vessel firm said in a disclosure to the stock exchange on Tuesday it signed a two-year service agreement with Mariveles Grains Corp. (MGC), which took effect last Monday, April 1.

Posted On:4-Apr-2019



Credits: www.bunkerportsnews.com

Port charges to go down soon - GPHA
The Ghana Ports and Harbours Authority (GPHA) has said charges at the port will be reduced soon as a result of ongoing reforms.
The paperless system and the Tema Port Expansion project are the two major reforms ongoing at the port.

Posted On:4-Apr-2019



Credits: www.bunkerportsnews.com

Cosco Latest Line To Commit To Port Of Liverpool
The world s top five shipping lines are all now calling at Liverpool following confirmation that Chinese giant COSCO Shipping is to ship via the port.
COSCO Shipping will take slots on an existing Canadian service via Montreal with OOCL. It joins MSC, Maersk, CMA and Hapag in starting or growing a presence in Liverpool.

Posted On:4-Apr-2019



Credits: www.bunkerportsnews.com

India: Containers handled at major ports up 8% at 9.876 million TEUs in FY19
India s 12 state-owned ports loaded a combined 9.876 million 20-foot equivalent units or TEUs in the year to March 2019, 8.08 per cent more than the previous year. In FY18, the dozen major ports handled 9.138 million TEUs.
Containers handled at major ports are expected to cross the 10 million TEU mark this fiscal.

Posted On:4-Apr-2019



Credits: www.bunkerportsnews.com
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