ON THE ROAD
Shanghai Shipping Exchange launched on Wednesday the "Belt and Road" shipping indices, tracking trade data and shipping freight rates under the initiatives of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, reported China Securities Journal. The indices, with January 2015 used as the base period, will be released on the last Monday of every month. The Belt and Road Freight Trade Index (SRFTI), is designed to track the volume and value of international trade between China and 66 countries along the Belt and Road, which are in Asia, North Africa, Europe, and Oceania, a statement of SSE said. The Maritime Silk Road Freight Index (MSRFI), tracks the shipping freight rates of imported and exported containerised cargoes, imported dry bulk cargoes, and imported crude oil.
The future of trade in Asia could depend heavily on what becomes of China’s expansive One Belt, One Road initiative, which calls for massive investment in and development of trade routes in the region. In this episode of the McKinsey Podcast, recorded in May, McKinsey senior partners Joe Ngai and Kevin Sneader talk with Cecilia Ma Zecha about One Belt, One Road—what it really means, what it needs to become a reality, and why people should take it seriously.
China's $40 billion fund to finance its most ambitious global plan - the Silk Roads and Maritime Silk Road is moving forward steadily as its management team has taken shape. China has appointed top officials to manage the fund. A team headed by Wang Yanzhi, an official with China's foreign exchange regulator, has been formed to formally operate the fund. People's Bank of China (PBOC) assistant governor Jin Qi will be the fund's chief executive and Zhu Surong
The Shipping Ministry of India has mooted a proposal to utilize part of the fuel cess collected for building national highways for expansion of National Waterways as well. The Union Minister for Shipping, Road Transport & Highways, Nitin Gadkari said his Ministry has sent a proposal seeking allocation of 5% of the Central Road Fund for development of Inland Waterways. “My Ministry has prepared the proposal
China has expressed its readiness to work with India to link its ambitious Maritime Silk Road plans with India's 'Mausam' project in a bid to address New Delhi's strategic concerns and derive "common benefits", reports PTI. Ever since the "One Belt and One Road" initiative to revive the ancient Silk Road and Maritime Silk Roads (MSR) was mapped out by Chinese President Xi Jinping, India has been showing vacillation and hesitations over whether to join the
The Coast Guard the U.S. Navy opened the Hampton Roads Sector Command – Joint Harbor Operations Center (SCC-JHOC) on March 24. The SCC-JHOC combines detection capability and command and control functions of Coast Guard and Navy entities within the Port of Hampton Roads. The mission of the Coast Guard and Navy personnel is to detect, monitor, and track vessel movements, critical port infrastructure, and militarily essential waterways in the port area
Governor Bob McDonnell announced today that the Bay Coast Railroad Car Barge will resume service next week as a result of a partnership between the Commonwealth, area localities, and the Bay Coast Railroad. The barge, which was removed from service last year, provides connecting service between the Virginia’s Eastern Shore and Norfolk/Virginia Beach. Last year, the Bay Coast Railroad suspended service on the barge when it identified $1 million in structural deficiencies critical to
India’s premier container port, Jawaharlal Nehru Port in Navi Mumbai, has signed an agreement with State Bank of India and Development Bank of Singapore for External Commercial Borrowing (ECBB) to the tune of USD 400 Million at a “very competitive” interest rate to improve the infrastructure required for “doubling” its existing capacity to 9.85 Million TEUs annually.
The port informs that its meeting no. 3 of fiscal year 2013-2014 is to be held on Thursday, September 26, 2013, 11:00 a.m. in the main auditorium at 1350 Port of New Orleans Place, New Orleans, Louisiana. The order of the meeting is as follows: I. Determination of Quorum and Call to Order II. Pledge of Allegiance III. Approval of Minutes for August, 2013, Meetings IV. Acceptance of Financial Statement for August, 2013 V. Public Comment VI. Actions Required
The car ferry Venus, which recently entered traffic, is the Swedish Road Administration’s most modern ferry and the first in a series with a distinct environmental profile. The propulsion engines onboard are modern Volvo Penta low-emission engines equipped with catalytic converters and particle filters. The high efficiency of the engines results in low fuel consumption and good performance. The Road Administration’s ferry unit, with slightly more than 60 ships
A 5-car rally team of Indian Navy’s Social Outreach Programme “Coast to Coast”, arrived at Indian Naval Academy on 21 March 2017. The rally is part of celebrations to commemorate the Platinum Jubilee of INS Valsura.
The government of India said berthing operation of a vessel was carried out at the newly-constructed Roll-on Roll-off (Ro-Ro) terminal on the Brahmaputra in Assam. The Inland Waterways Authority of India (IWAI) vessel will be deployed for Ro-Ro (roll-on
Liquefied natural gas from the Świnoujście LNG terminal is being loaded onto tank trucks and transported to Estonia. Its serves as fuel for ferries built in 2015 in the Polish shipyard in Gdańsk. The loading of LNG onto tank trucks takes place at the terminal on business days
Significant improvement in efficiency has been achieved by India's Major Ports in the last two years, said the Minister of State for Shipping Pon. Radhakrishnan. With a view to improve further the efficiency and productivity of the major ports and make it comparable internationally
The dry bulk industry remains well on target for profitable freight rates in 2019, according to BIMCO. This relies however, on the projected fleet supply growth rate of 0 percent in 2017 continuing. The handymax segment may even see profits in 2018 as demand may go beyond 2 percent in 2017 before
River Brahmaputra from Dhubri to Sadiya was declared as National Waterway-2 (NW-2) in 1988. A Detailed Project Report (DPR) for NW-2 was prepared by the Howe Engineering Project (India), Central Water and Power Research Station (CWPRS) and Water and Power Consultancy Services (India) Limited
Christopher A. Hart’s term as Chairman of the National Transportation Safety Board concluded on schedule Wednesday and Vice Chairman Bella Dinh-Zarr will serve as the agency’s acting chairman. Hart will remain at the NTSB
46th Safety Week Celebration was inaugurated in V.O. Chidambaranar Port. The Safety Week Celebration for the year 2017 commenced with the flagging off of safety procession by U. Rajendran, Traffic Manager, V.O.Chidambaranar Port Trust.
Kalmar, part of Cargotec, has delivered nine Kalmar Gloria reachstackers to the Italian ro-ro and container shipping line Messina Group. The order includes a Kalmar Complete Care maintenance contract, which brings several advantages, such as financial predictability
France-based Haropa port expects maritime trade with India to grow at double digit this calendar year after having reported 7% growth in 2016, said Herve Martel, , CEO - Port of Le Havre & President- HAROPA ports. “We have received encouraging response from the Indian policy
France's Fosmax LNG has announced that it is considering making short/medium-term investments to modify its existing facilities to make them capable of receiving both existing and planned small scale LNG vessels at the Fos Cavaou LNG terminal, near Marseille.
International Maritime Organization (IMO) Secretary-General Kitack Lim has spoken about the importance of a global approach to climate change regulation for the shipping industry. During the World Ocean Summit in Bali, Indonesia (22-24 February)
Mike Corrigan, the incoming CEO of global trade association Interferry, is to advocate greater European Union involvement and investment in the ferry sector during an address on the opening day of European Shipping Week, which takes place in Brussels from February 27-March 3.
In a bid to raise the maritime container trade between French port HAROPA and Indian ports, a power-packed delegation is visiting India from February 20-23 to hold road shows in four cities across the country. During the visit, the delegation led by Mr Herve Martel
The global shipping industry has urged the European Union to drop the sector's inclusion in proposals adopted on Wednesday to reform the bloc's carbon market, saying it risks distorting trade and international efforts to cut the sector's emissions.