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SSE Rolls Out Two Shipping Indices

Image: Shanghai Shipping Exchange

 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.  

China's $40b Maritime Silk Road Shaping Up

Artists perform during a Chinese Dance Drama entitled The Dream of the Maritime Silk Road, at the United Nations headquarters in New York on Feb. 4, 2015 (Image: United Nations, Youtube)

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

USCG and USN Open Harbor Operation Center in Hampton Roads

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

Rail-Barge Service from Eastern Shore to Resume

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

Port of New Orleans: Varied Third 2013 Meeting Agenda

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

China to Link Maritime Silk Road with India's 'Mausam'

Map: PIB

 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

New Ferry Gets Volvo Penta Engines

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

Hampton Roads Receives Rescue 21

The Coast Guard's Rescue 21 Acquisition Project will hold an acceptance ceremony and demonstration at Coast Guard Sector Hampton Roads. Rescue 21 is the Coast Guard's critical command, control and communications acquisition project, offering cutting edge technology to mariners nationwide.  The system is the backbone of the National Maritime Distress and Response System, a maritime version of 911 that allows the boating public

Nav Safety Advisory Council Seeks Applicants

The U.S. Coast Guard is seeking applications for membership on the Navigation Safety Advisory Council (NAVSAC). NAVSAC provides advice and makes recommendations to the Secretary of the Department of Homeland Security on issues related to the prevention of collisions, rammings and groundings, including, but not limited to Inland and International Rules of the Road, navigation regulations and equipment, routing measures, marine information, diving safety and aids to navigation systems.

Container Ship Runs Aground at Fremantle Port

Maersk Garonne (Image by Maersk Line)

 A ship that ran aground at Fremantle Port early Saturday has been refloated. The 62,000-tonne Denmark-registered container ship Maersk Garonne became stuck in soft sand about 500m off South Mole.   Jeanette Murray from Fremantle Ports said: “the Maersk Garonne was pulled free by tugs around 8.30am and will go to anchor in Gage Roads to be assessed by the Australian Maritime Safety Authority."  

Heavy Rains Cause Delays on East Africa Trade Route

Heavy rains near the Indian Ocean port of Mombasa have swept away a road and slowed transport to a trickle on the main trade route into east Africa, officials said on Wednesday.   Mombasa port handles imports such as fuel and other vital goods for Uganda, Burundi, Rwanda

Heavy Rain Hampers Kenya Port Trade

A washed-out road in Kenya has blocked the flow of goods from Kenya's Indian Ocean port of Mombasa for a second straight day, officials said on Wednesday, choking the main trade route into East Africa.   Mombasa handles imports such as fuel and other vital goods for Uganda, Burundi, Rwanda

Terex Cranes for ICTSI

Three similar cranes will be supplied to Basra

  Terex Port Solutions (TPS) has received an order from a subsidiary of International Container Terminal Services, Inc. (ICTSI) in Iraq for two Terex shiptoshore cranes (STS) and three Terex rubber-tyred gantry cranes (RTG). With this order including comprehensive services, TPS and ICTSI

Controversial Nicaragua Canal Project Postponed

Image: Hong Kong Nicaragua Development (HKND) Co

 China's Hong Kong Nicaragua Development (HKND) Co. said it is delaying the start of construction on a controversial $50 billion inter-ocean canal across Nicaragua until late 2016.   HKND has obtained approval for environmental studies of the canal earlier this month

Houston Braces for Floods as Texas Deluged by Rain

Hurricane Patricia Image Courtesy NOAA

  Heavy rains fueled by the meeting of two strong storm systems, one the remnants of Hurricane Patricia, pounded southeastern Texas on Saturday, triggering flash floods and derailing a freight train as the heavy weather tracked toward Houston.

Hurricane Patricia Brings Rain, Flooding to Louisiana

Torrential rainstorms battered Louisiana on Sunday, leaving thousands without power, after pounding southeastern Texas as the remnants of Hurricane Patricia converged with a second storm. The heaviest band of rain moved over the Gulf of Mexico

West Calcasieu Port Adds 11.5 Acres

West Calcasieu Port officials announced today that the port has completed the $1.5 million purchase of 11.5 acres of adjacent property to the facility on the Gulf Intracoastal Waterway.    “The additional property will increase port acreage to more than 200 acres

China Cosco Posts Q3 Loss

Photo: China Cosco

 China Cosco, the flagship unit of state conglomerate Cosco Group,  swung to a net loss in the third quarter of calendar 2015 at 1.7 billion yuan. Its revenue fell 19 per cent to 14.1 billion yuan in the third quarter.   

US Port Projects Awarded $44.3 Mln in Grants

Oxnard Harbor District (Photo: Port of Hueneme)

After evaluating 627 applications, 50 of which were from ports, for the FY 2015 Transportation Investment Generating Economic Recovery (TIGER) grants, U.S. Department of Transportation (USDOT) Secretary Anthony Foxx today announced 39 awards for $500 million in funding to be made in the seventh

Port of Rotterdam Ties Up with Bank of China

Photo by: Port of Rotterdam Authority

 The Bank of China and the Port of Rotterdam Authority signed a Memorandum of Understanding aimed at strengthening relations between China and the Netherlands.   Through this Memorandum, the Port of Rotterdam Authority and the Bank of China

Ministerial Round Table at Felixstowe Port

Shipping Minister Robert Goodwill MP (centre left) discusses transport-related issues with business leaders at the Port of Felixstowe

  Transport Minister Robert Goodwill MP has taken part in a round table discussion with transport leaders from the ports, road, rail freight and shipping industry at the Port of Felixstowe, the Port of Britain.   Mr Goodwill’s responsibilities at the Department for Transport

Clean Energy Bunkers Isla Bella with LNG

Photo by Clean Energy Fuels Corp.

  Clean Energy Fuels Corp. participated in a little history last month when it supported General Dynamics (GD) NASSCO’s launch of the Isla Bella container ship, the first of its kind to operate on LNG fuel. Clean Energy provided bunkering services and fuel from its Boron

ABS Exec Speaks at World Shipping Summit

Howard Fireman (Photo: ABS)

ABS announced its participation in the World Shipping (China) Summit 2015, November 5-6, in Guangzhou, China, where ABS Senior Vice President and Chief Technology officer Howard Fireman spoke about changes in the global shipping industry.

Columbia Group Opens NJ Intermodal Depot

The Columbia Group of Companies will open a new intermodal chassis depot located in Bayonne, NJ on November 16, 2015.   Trac Intermodal will be the first customer to join the depot. Columbia Group, through its affiliates Columbia Container Services and Columbia Intermodal

Kenya Building Cruise Terminal at Mombasa

East Africa's biggest port of Mombasa will spend 100 million shillings ($980,392.16) to build a new cruise ship terminal aimed at boosting tourism, port management said on Wednesday. Piracy in the Gulf of Aden and the Indian Ocean struck a major dent into cruise tourism in the region

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