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Myanmar Scrambles to Clear Port Jam

Photo: Myanmar Industrial Port

 The weeks-long traffic jam of cargo ships at the Myanmar’sbiggest port threatens to scare potential investors away and choke off nascent economic growth, says a report in Reuters.   The bottleneck at the dilapidated port was caused by a spike in demand for goods as the opening up of the economy accelerates following a historic election win by Aung San Suu Kyi’s National League for Democracy (NLD) in November.   “Because of the general growth of the economy we are packed. The ships have nowhere to go,” said Ma Cherry Trivedi, managing director of Ayuroma International, an advisor to Myanmar Industrial Port (MIP), where congestion has been worst.   Its main port has changed little since the end of British colonial rule nearly 70 years ago – emblematic of ramshackle infrastructure that could hold back the foreign investment Suu Kyi needs to live up to sky-high expectations and remake a country impoverished by decades of junta rule.   The number of ships docking in Yangon has doubled over the past decade and the number of containers has jumped fourfold, data shows, clogging up inadequate storage space, overwhelming sclerotic logistics systems and delaying deliveries.   Industry sources said the holdup cost major shipping lines millions of dollars a week.  


Maersk Ships Rice to Haiti for Free

Maersk Line, part of the Danish group A.P. Moller - Maersk, will provide free ocean freight for 147 containers (3,525 metric tons) of rice donated by the Government of Thailand to Haiti through the World Food Program. The rice will be split and shipped across four sailings, from Laem Chabang, Thailand to Caucedo, Dominican Republic, before being trucked into Haiti. The first shipment set sail on 15 March 2010, on Maersk Line vessel Maersk Kendal


Atlantic Container Rates To Soar

Starting next year, the price to ship a container across the Atlantic ocean is to soar, as container shipping lines on the Atlantic will be seeking hefty rate increases s next year. Rates for 20 foot containers heading westbound to U.S. Atlantic, Gulf and Pacific ports would rise by $600 from January 1, 2000, carriers in the Trans-Atlantic Conference Agreement (TACA) said. For 40 and 45 ft units the increase would be $750, they said


New Members of NOAA’s Hydrographic Services Review Panel

NOAA Administrator Jane Lubchenco recently appointed nine new members to the Hydrographic Services Review Panel, a federal advisory committee that gives NOAA independent advice for improving ocean and coastal navigation products, information, data and services.   “Optimizing the benefits of navigation services and products is a priority for the agency,” said Margaret Spring, chief of staff for NOAA and the agency’s representative to the Committee on the Marine


Maersk Line Introduces Sustainable Container Floors

Maersk-line-logo.gif

New Maersk Line procurement policy for container floorboards aims to reduce demand for illegally logged tropical hardwood Today, Maersk Line announced a new policy to refrain from purchasing containers with floors made of uncertified tropical hardwood. “Illegal logging is widely recognised as a serious threat to forests, people and wildlife. We feel obligated to use our purchasing power to push for higher standards and ensure that the timber we use for container floors come from


Odfjell Elects Klaus Nyborg Director of the Board

Klaus Nyborg (Photo: Odfjell)

Odfjell SE’s Extraordinary General Meeting, held December 9, 2015, supported the Nomination Committee's proposal and elected Klaus Nyborg as new director of the Board.   Nyborg, a Danish citizen, owns no shares in Odfjell SE and has no formal ties to major shareholders of the company, according to Odfjell.   Nyborg was recently Interim CEO of DS Norden AS from 2014-2015, where he has also been on the board since 2012, and chairman since 2015


Maersk Container Line Leads in Reliability Says Report

Photo credit Maersk

A new research report confirms the Asia-Europe product 'Daily Maersk' continues to lead competitors in reliabiltiy ratings The report, a joint effort between ecommerce network provider INTTRA and container shipping analyst SeaIntel, examined the performance of the top 20 container lines in schedule reliability. In the past year, Maersk Line has been the No.1 carrier in eight of the months and No.2 for four. The report also highlights, among others


First Triple-E named Mærsk Mc-Kinney Møller

Ane Mærsk Mc-Kinney Uggla, lady sponsor, christens the ship (Photo: Maersk)

Maersk Line’s newest vessel, the first of the Triple-E series, was named this morning in a ceremony at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. It bears the name of the late Mærsk Mc-Kinney Møller, who passed away in April 2012 at the age of 98. Maersk Line CEO, Søren Skou, began the ceremony by welcoming all the special guests and recounting the important tradition of naming ceremonies in Maersk ever since the first


Maersk Buying Back Shares, Earnings Up

Shares rise 5 pct after improved guidance, better quarter than expected. Maersk indicates more buybacks after first in its history. Efficiency, cost savings boost Maersk Line compared to rivals. Denmark's A.P. Moller-Maersk announced the first share buy-back in its 110-year history on Tuesday as an overhaul of the sprawling shipping and oil empire leaves it with more cash than it can usefully invest. Maersk shares jumped 5 percent after the company reported better than expected quarterly


First ORC Operation on Maersk Vessel

ORC Module 125EJW Courtesy  MHI Marine Machinery & Engine

The newly developed waste heat recovery system "Hydrocurrent Organic Rankine Cycle (ORC) Module 125EJW" 1 by MHI Marine Machinery & Engine Co., Ltd. (President: Kazuo Soma, Head Office: Nagasaki) has begun operation on the vessel named Arnold Maersk belonging to Maersk Line. The ORC system enables the utilization of extremely low temperature heat sources to generate electrical power at low-cost and high-efficiency in marine applications


Two Maersk Jack-up Rigs in for Reapir

Photo courtesy of Semco Maritime

Semco Maritime has welcomed the recent arrival of two Maersk Drilling high specification jack-up rigs to its Invergordon shipyard facility. Maersk Reacher will be berthed in the Queens Dock facility for an undisclosed duration, carrying out necessary upgrades and modifications


Maersk Break-Up Soon ?

Photo: Maersk Line

 A.P. Moeller-Maersk A/S, in its strategic review, is considering several options including a two-way split into an energy and a transport company, says a Bloomberg report.   According to Danish daily Berlingske, the shipping group is likely to break up into transportation and energy


Another Hurdle for The Ocean Alliance

William P. Doyle (Photo: FMC)

Commissioner William P. Doyle of the U.S. Federal Maritime Commission today voted in favor of requesting additional information from The Ocean Alliance parties.   The Request for Additional Information (RFAI) effectively stops the clock on the agreement until such time as the filing parties


Maersk Line's Innovative Smart Reefers

Image: The Maersk Group

 Have you heard about Maersk Line's smart reefers that can listen and talk? Cutting edge technology that reduces risk in customer supply chain, claims Maersk Line.   "We’re always looking for ways to improve cargo care on behalf of our customers


Cost Cuts Ease Pain of Maersk's Gloomy Shipping Forecast

File photo: Maersk Line

Net profit below forecasts, operating figure above; group hit by low freight rates and low oil prices. A.P. Moller-Maersk's progress in cutting costs reassured investors on Friday after the Danish shipping and oil giant reported a sharp decline in quarterly profit and its new chief executive


DOF Secures North Sea PSV Contracts

Skandi Caledonia (Photo: DOF Group)

DOF Group said it has secured an extension with Maersk UK for 2011-built platform supply vessel (PSV) Skandi Gamma until the end of 2016 and for 2003-built PSV Skandi Caledonia with Apache North Sea Ltd until mid-January 2017.


Maersk Paints a Gloomy Picure

Photo: Maersk Line

 Danish shipping conglomerate A.P. Moeller-Maersk A/S has reported a plunge in profits in the second quarter in the face of tough market conditions.    Maersk's quarterly net profit dropped 89 per cent to $118m compared with a year earlier


Maersk Cautions on U.S. Protectionism

Photo: Maersk Line

 Danish conglomerate  A. P. Moeller-Maersk A/S, the world’s largest container shipping company, has voiced its concern as a potential shift in U.S. policy threatens to reduce global trade, reports Bloomberg.   Maersk group's chief financial officer Trond Westlie said any


Two MOL Subsidiaries' Names Changed

Courtesy MOL

Mitsui O.S.K. Lines, Ltd. today announced name changes for two of its major wholly owned subsidiaries: MM HOLDINGS (AMERICAS) INC. to MOL (AMERICAS) HOLDINGS, INC., effective July 7, 2016; and MITSUI O.S.K. BULK SHIPPING (ASIA OCEANIA) PTE. LTD. to MOL (ASIA OCEANIA) PTE. LTD


Maersk Drilling Delivers $164m Profit

Claus V. Hemmingsen, CEO in Maersk Drilling  Photo Maersk

Maersk Drilling delivered a profit of USD 164m (USD 218m) in the second quarter of 2016. The result is positively impacted by a strong operational performance with an average uptime of 98% and savings on operating costs, however partly offset by more idle days


Asia N.Europe Box Rates PLunge 10.5 pct

A containership alongside engaged in cargo operations in the port of Hamburg, Germany (port of Hamburg)

Container spot freight rates from Asia to Northern Europe fell 10.5 percent to $771 per twenty-foot equivalent units (TEU) last week, data from the Shanghai Shipping Exchange showed. Specifics of the Intermodal news include:   Freight rates from Asia to ports in the Mediterranean


Shipping Industry Slumps, but Ship Scrapping Looks Up

Alang, Gujarat: Worlds biggest ship breaking yard. Photo from Youtube video

 While the shipping industry struggles through a historic downturn, ship scrapping business is seeing accelerating demand, reports WSJ.   The global economic slowdown is putting shipping through its most bruising period since the 2008 financial crisis.   


Low Freight Rates Hit Maersk Line

Photo: Maersk Line

 Record low freight rates have driven the World’s largest container carrier Maersk Line to report a second-quarter loss of US$151 million.   The second quarter result and revenue both fall year-on-year as average freight rates hit record low levels


Maersk Supply Service to Cut Fleet, Crew

Photo: Maersk Supply Service

 The AP Moller-Maersk Group subsidiary Maersk Supply Service,, which is part of the "fifth leg" in the light blue conglomerate, is divesting up to 20 vessels over the coming 18 months and reducing its crew pool by 400 offshore positions.  


Jakarta's New Container Terminal Starts Operating

A new container terminal at Tanjung Priok Port in Jakarta, Indonesia

On August 18, a new container terminal built by NYK Line together with PT. Pelabuhan Indonesia II (Persero) (IPC), Mitsui & Co. Ltd. and PSA International Pte Ltd  opened for commercial service at Tanjung Priok Port in Jakarta, Indonesia.






 
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