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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, governor of PBOC's Urumqi branch in Xinjiang, has been appointed board member of the fund.   The fund was announced by President Xi Jinping last year to build major infrastructure projects aimed to enhance its strategic influence and blunt the US' big push into Asia-Pacific.    The fund is part of China's national strategy to revive the land-based and maritime Silk Roads by financing major infrastructure projects along the centuries-old trading routes. About 65 percent of the fund will come from the country's nearly $4 trillion foreign exchange reserves.   China Investment Corp, the country's sovereign wealth fund, will hold 15 percent stake in the Silk Road Fund. Two other State-owned financial institutions - the Export-Import Bank of China and China Development Bank Capital Co - will hold the rest of the stake, according to previous media reports.  


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


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


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


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


Louisiana Port Wary of Next Hurricane

The only road in and out of Port Fourchon, Louisiana, the main U.S. staging point for deepwater oil and natural-gas production, sits just 2 to 3 feet (61 to 91 centimeters) above the marshland. Hurricanes Katrina and Rita largely spared the road, Louisiana Highway 1, because neither struck Fourchon directly. According to Bloomberg, officials are worried that the upcoming hurricane season, beginning June 1, might play out differently


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."  


Battery-powered Ferry Enters Service in Norway

Photo courtesy of Siemens

The world’s first electrical car and passenger ferry powered by batteries has entered service in Norway, representing a milestone on the road to operating emission-free ferries along Norway’s coastline, with at least 50 other routes currently able to sustain battery-operated vessels.


China Denies Kra Canal Deal

The Kra-Canal Project. Map: International Institute of Marine Surveying

 China has denied it is involved in work on the Kra canal, defusing hype over a project that purportedly lets ships bypass the Strait of Malacca and Singapore's port, reports Strait Times.   There are no plans by the Chinese government to participate


Two ASC Kalmar Cranes for DP World Brisbane

Kalmar automatic stacking cranes at DP World Brisbane

  Kalmar, part of Cargotec, has received an order from DP World Australia to deliver two new Kalmar automatic stacking cranes (ASCs) for its semi-automated terminal in Brisbane.    The cranes will join a fleet of 14 Kalmar ASCs at Fisherman Islands Terminal


Severe Flooding Cuts Off Lone Road to Alaska's Oilfield

Bill Walker photo Wikipedia

  Alaska's lone road to North Slope oil field operations remains closed for the third time in two months while emergency crews continue to redirect flooding from an adjacent river, state officials said on Friday. Alaska Governor Bill Walker's office said he would sign a second disaster


USD 1.83 Billion Singapore Mega Port Project at Tuas

The Port of Singapore: Photo credit: Government of Singapore

 The Maritime and Port Authority of Singapore (MPA) and the Dredging International Asia Pacific-Daelim Joint Venture (DDJV) have inked a contract for the USD 1.83 billion Tuas Terminal Phase 1 Reclamation, Wharf Construction and Dredging Project.  


US Marine Highways to Help Prepare for the Future

Marine Highway

  With America's population expected to grow by 70 million over the next 30 years, moving the goods that enrich our lives --and the freight that fuels our economy-- will be a key challenge.  As our Beyond Traffic draft framework indicates, by 2045, the volume of goods on our roads, rail


Massive Royal Caribbean Cruise Ship Docks in Norfolk

Brilliance of the Seas. Pic by Royal Caribbean Cruises Ltd

 Royal Caribbean’s Brilliance of the Seas, one of the biggest ships on the seven seas, docked in port at Nauticus, Norfolk for a short time and fueled big business across Hampton Roads.   Nearly 3,000 people on-board flooded on the streets of Norfolk


Townsville Port Hikes Charges

Townsville Port

  A 5 percent increase will apply to port charges at the Ports of Townsville and Lucinda effective July 1, 2015. The Layup Concession will continue to operate and its effectiveness will be monitored and reviewed through the Port Advisory Body


Say No to Maritime Silk Road China: Indonesian leader

Sri Sultan Hemengkubuwono X. Photo: Kaskus

 Sultan of the Yogyakarta Sultanate in Indonesia Sri Sultan Hamengkubuwono X asked President Joko Widodo to reject the Chinese government bid to link the World Maritime Axis (Indonesia) with the Maritime Silk Road (China), reports Antara News.  


Massive Pumping Station Transported

Photo courtesy of NICOLAS

Norway’s Royal Transport was recently assigned the task of moving a 420 t pumping station in Bergen. For this, the company used two self propelled platform trailers: one second-generation (G2) MHD SPE and a first-generation (G1) MHD SP from NICOLAS.  


IMO Dodges Marshall Islands Plea for CO2 Target

Emissions from shipping. Photo courtesy: HZG

 The International Maritime Organisation (IMO) has dodged a decision on the setting of a new global target for reducing greenhouse gas emissions from international shipping, proposed by the Marshall Islands.   The environmental lobby group Transport & Environment (T&E)


Container Booking System at ICTSI

ICTSI for Container Booking System

  In its efforts to limit peaks of trucks around the port area and balance their flow on city roads, International Container Terminal Services, Inc. (ICTSI) will be implementing a Container Booking System that will manage the arrivals and departures of trucks at its flagship


No Signs of Improvement in Container Rent Seen: Cosco Pacific

Photo: Cosco Pacific

Cosco Pacific said it has seen no signs of a pick-up in the container leasing market, as oversupply continues to haunt the liner industry. Executive director Feng Jinhua said that the container leasing business has showed a down trend since 2012 and hovered at a low level


Thailand, China Teams Up on Kra Canal

The Kra Canal vs. the Strait of Malacca. Map by the Schiller Institute, Washington

 Thailand and China have signed a memorandum of understanding (MOU) in Guangzhou to jointly cut a shipping passage across Kra Isthmus in southern Thailand, the narrowest part of the Malay Peninsula.   The canal, located at Kra Isthmus


ICTSI Laguna Dry Port Expansion

LGICT

  International Container Terminal Services, Inc.’s (ICTSI) dry port unit, Laguna Gateway Inland Container Terminal (LGICT), recently broke ground to start the expansion of new facilities which include extended and dedicated storage areas for loaded and empty containers






 
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