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ON THE ROAD

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 One Belt, One Road: Will it Reshape Global Trade?

Kevin Sneader and Joe Ngai discuss. Photo: McKinsey Insights

 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 $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


Indian Shipping Seeks Road Fund for Development of Waterways

Nitin Gadkari. Photo: Press Information Bureau, Govt of India

 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 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


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


Jawaharlal Nehru Port Goes for External Commercial Borrowing

Photo: APM Terminals Mumbai

 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.    


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


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


HAROPA ports Road Shows in Indian cities

HAROPA - Ports of Le Havre, Rouen and Paris to connect India with European markets Photo HAROPA

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


Shipping Industry Calls for Exemption from EU Carbon Market Reform

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.


ExxonMobil inks patent agreement with Pason Systems

Photo ExxonMobil

ExxonMobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System, a key component of the company’s Fast Drill technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in


OSA opens Operational Office in Singapore

3D measurement on a vessels rudder in dry dock. Photo OSA

On Site Alignment (OSA) has formally opened its 3rd international operational office in Singapore at the turn of 2017. The office is in the Tuas area of Singapore, which is perfectly placed to access the extensive shipyards and road networks servicing the surrounding area


India Spends $ 20 mln towards Clean, Green Ports

Pon Radhakrishnan, Union Minister of State for Road Transport, Highways and Shipping, Government of India. Photo: Official Twitter page

 Under the Green Port Initiative (Swachh Bharat Abhiyan), the shipping ministry of India has identified 12 activities to make the Major Ports more clean and green from the environment perspective, stated the Minister of State for Shipping Pon. Radhakrishnan.   


NTSB Reports on Safety Risks in Shared Waterways

Photo: Larry Dosta / NTSB

The National Transportation Safety Board issued a report Thursday identifying the risks associated with the shared use of America’s Marine Transportation System by recreational and commercial vessels.   The growth of both commercial and recreational vessel traffic during the last


Port of Oakland Mulls $600m Upgrade

Image: Port of Oakland

 A Port of Oakland executive outlined a $600 million spending plan here today for growth at his West Coast trade gateway.  Maritime Director John Driscoll told a maritime audience that Oakland would increase trade volume by investing in new facilities and better infrastructure


Richmond Express Starts Operation at RMT

Barge Photo Virginia Port Authority

The Port of Virginia’s new barge – the Richmond Express arrived in the Norfolk Harbor and scheduled to sail Sunday and be at Richmond Marine Terminal (RMT) Monday, Feb. 6. This new barge helps reduce congestion on I-64 and wear-and-tear on the road by taking trucks off of that


Boskalis Bags Netherlands Projects of EUR 200 mi

Courtesy Royal Boskalis

Royal Boskalis Westminster N.V. (Boskalis) has over the last couple of weeks acquired a number of medium sized and various smaller projects in the Netherlands with a combined contract value of more than EUR 200 million.   Today, Boskalis was awarded the project for the expansion and


COSCO Secures Finance Pledge from CDB

COSCO Shipping Corporation said policy lender China Development Bank has pledged to provide it with 180 billion yuan ($26 billion) in financing in the years through 2021 to support the Chinese shipping giant's business development.   Cosco Shipping said in a statement on its website late on


Verifavia, INSB Class Sign MoU

Signing the MoU Photo VERIFAVIA SHIPPING HELLAS

Verifavia, the world’s leading emissions verification company for the transport sector (aviation and shipping), today announced that it has signed a memorandum of understanding (MoU) with independent Greek ship classification society and certification organisation, INSB Class.  


Sagarmala – Sailing Towards a Vibrant Gujarat

Photo courtesy:  Vibrant Gujarat

 India's Shipping Minister of State  Mansukh Mandaviya inaugurated the state- of -the -art exhibition display of Sagarmala, Ministry of Shipping at Vibrant Gujarat Global Investors Summit, 2017, yesterday (Jan 11).    Gujarat has been at the forefront of the maritime


Harris Pye to Refurbish Kishorn Port Dry Dock Gates

Chris David Photo Harris Pye

Harris Pye begins work today on refurbishing the historic dock gates at Kishorn Port, last opened nearly 25 years ago. This will be the first step in making them, and the Kishorn dry-dock, operational once more. The contract value is £340


EU Ship Levy Proposal Could Undermine IMO Emissions Work

A European Union proposal to impose a levy on ships over their greenhouse gas emissions risks undermining the sector's global efforts to tackle the issue, the UN shipping agency's chief said on Monday. EU lawmakers voted in December in favour of including shipping in draft reforms of the bloc's


Snowstorm hits Traffic in Istanbul; Straits Closed

A snowstorm forced the closure of Turkey's key shipping straits and sweeping flight cancellations on Saturday, while hazardous roads left many drivers stranded overnight in Istanbul, a city of 15 million people. Turkish Airlines cancelled hundreds of flights in and out of the city's main






 
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