ON THE ROAD
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.
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
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 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."
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
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.
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
GAC Pindar in J/V with global freight forwarder TNL International, deliver a 7.6 mt Stamas boat from Georgia USA to Aukland, New Zealand. The privately owned motorboat, which is 3.93 metres high and 12.58 metres long overall, was handled with care for its 15,000km voyage. Before being loaded onto a ship bound for Auckland at Savannah, Georgia, it was shrink-wrapped and cradled on a special mafi trailer. Once the craft arrived in New Zealand
Hurricane-force winds lashed parts of northern Europe on Tuesday, including Germany and the Netherlands, causing flights to be cancelled, snarling some train services and hitting port traffic. The Dutch meteorological office issued a code red warning for the low-lying country's northern and
China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity and embrace a brighter future together. The plan consists two segments - One is centered on the Asian land mass and
Chinese officials on Saturday fleshed out some details for the country's ambitious 21st Century Maritime Silk Road (MSR) project in its “one belt, one road,” action plan. Though the plan released by China’s economic planning agency and the commerce and foreign
Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that 'a Chinese delegation will visit Namibia ... for discussions ... on the way forward regarding plans for the proposed naval
The heavy rainfall that battered Chile's usually arid north this week happened because of climate change, a senior meteorologist said, as the region gradually returns to normal after rivers broke banks and villages were cut off. "For Chile
Indonesian President Joko “Jokowi” Widodo and Chinese President Xi Jinping pledged increased maritime cooperation during the formers visit to China. The joint statement issued after his meeting with Xi noted that “the 21st Century Maritime Silk Road
Lloyd’s Register launched its 2015 Container Certification Scheme today to give a clear and concise set of rules to ensure offshore and onshore containers are safe and certified correctly. Aimed at both manufacturers and operators of equipment in the
MTU America Inc., a subsidiary of Rolls-Royce Power Systems AG, will implement an auditing program to ensure proper emissions testing and compliance with federal emission standards for its heavy-duty diesel non-road engines as part of a settlement to resolve alleged Clean Air Act violations, the U
Food and drink logistics giant, Culina Group, has been announced as the first major tenant at the new National Import Centre being developed by the Peel Group, as part of its multi-million pound Port Salford development (located approximately 6 miles (9
The new cruise terminal at Zayed Port in Abu Dhabi, which will be capable of handling 2,500 passengers and three ships simultaneously, is set to become operational by the end of the year, according to a report in the National.
Krishnapatanam Port was declared winner of the CII Southern Region’s EHS Excellence Award for 2014. The 8th EHS Award organized by the Confederation of Indian Industry (CII)-Southern Region was held on 14th March 2015 at ITC Park Sheraton, Chennai.
China's maritime economy generated a total of 5.99 trillion yuan (962.4 billion U.S. dollar) in 2014, a 7.7-percent increase over 2013, says the State Oceanic Administration (SOA). The SOA report said China's maritime economy has become an important part and a boost to the national
IMES informs it has moved to premises in Portsmouth as the company targets further strategic growth. The new 5,500 sq ft premises, based at Voyager Park on Portfield Road, Portsmouth, feature a load testing area for lifting equipment, a component assembly area and purpose-built painting area
Indonesia is seeking US$7 billion in foreign investment to upgrade its ports as part of a five-year plan to improve its ports network, Finance Asia said. The plan involves modernizing existing ports and building new ones in the country
A chemical fire at a Vancouver container terminal led to a partial evacuation of Canada’s largest port for several hours Wednesday afternoon, as a cloud of white smoke drifting over the city prompted health warnings and road closures, says Canadian Press.