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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 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.

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

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

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

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

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

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.    

Skangas Secures Framework Agreement with Statoil

Viking Energy Photo Skangas

Skangas has entered into an agreement with Statoil for delivery of liquefied natural gas (LNG) fuel for their platform supply vessels (PSV). The LNG will be delivered to several bases along the Norwegian west coast by ship.   Skangas will in addition deliver LNG to Statoil’s tugs at

Intermodal terminal moves to Gothenburg Port

Freight terminal in central Gothenburg moves to the Port of Gothenburg Photo Gothenburg Port

Plans are in place to move the freight terminal currently located in the central city of Gothenburg to the Port of Gothenburg. The switch will allow a higher proportion of transport by rail instead of road. At the intermodal terminal, in the city centre of Gothenburg

Sagarmala: Revolutionizing Logistics Through Port Led Development

Sagarmala, the ambitious program for ‘Port-led development’ in the country is all set to change the logistics sector performance by optimizing India’s logistics modal mix.  The flagship program by the Ministry of Shipping  will help in reducing the logistics cost for

India Mulls Development of National Waterway -1

Map: IAS Preparation

 Development of Inland Water Transport is one of the major endeavours of the Ministry of Shipping. The Phase-1 of Jal Marg Vikas project will cover the Haldia- Varanasi stretch.    The project includes development of fairway, Multi-modal terminals at Varanasi, Haldia and Sahibganj

Energy Action Month Reinforces Navy's Energy Resiliency

A U.S. Navy graphic provided by the Chief of Naval Operations Energy and Environmental Readiness Division for Navy Energy Action Month. (U.S. Navy photo Release)

Through a presidential proclamation, October has been designated as Energy Action Month to stress the importance of energy for our nation's economic vitality today and for a sustainable future. The Department of Navy's Energy Action Month theme for 2016 is "Power. Presence

New Hamburg Terminal for OPDR

Aerial view of the Süd-West-Terminal (SWT) in the Port of Hamburg (Photo: OPDR)

The short sea shipping expert OPDR, as part of the CMA CGM Group, will call a new terminal in the Port of Hamburg: the C. Steinweg Group’s Süd-West-Terminal (SWT). The first OPDR vessel will call the SWT on October 11th 2016. The Süd-West-Terminal is a highly flexible

India Approves $77.4 Mln for Sagar Port Project

Photo: Kolkata Port Trust

 Indian Government has given in principle approval to a grant of Rs. 515 crores ($77.4 Mln ) to make the development of the proposed Sagar Port project in West Bengal financially viable.    This is part of the continuous efforts by the Ministry of Shipping during the last two

Consolidation, Greater focus on Risk Management and Higher Finance Costs - BIMCO


BIMCO has today published the next in its series of reports looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties. The foundation for the new report follows the conclusion of BIMCO’s previous analysis – that due to the severity of

Bimco Publishes Dry Bulk Crisis Report

Philippe Louis-Dreyfus. Photo: BIMCO

 BIMCO has published the next in its series of reports looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties.    The foundation for the new report follows the conclusion of BIMCO’s previous analysis – that due to the

Hurricane Matthew Strengthens as it Heads for US

Image: National Hurricane Center

Hurricane Matthew, the fiercest Caribbean storm in nearly a decade, strengthened as it barreled toward the southeastern United States on Thursday after killing at least 140 people, mostly in Haiti, on its deadly northward march.   As Matthew blew through the northwestern Bahamas on Thursday

Hurricane Matthew Death Toll nears 900 in Haiti, Cholera takes lives

Atlantic Tropical Cyclones and Disturbance Image  National Hurricane Center

Hurricane Matthew's trail of destruction in Haiti stunned those emerging from the aftermath on Friday, with the number of dead soaring to 877, tens of thousands left homeless and outbreaks of cholera already claiming more lives. Information trickled in from remote areas that were cut off by the

Bunkering First for Gazpromneft Marine Bunker

Photo: Gazpromneft Marine Bunker

 Gazpromneft Marine Bunker Ltd performed its first delivery of marine oil to the vessel operated by Chevron in Ust-Luga port.    The delivery was arranged with cooperation with Gazpromneft-Lubricants – the Gazprom neft’s oil and lubricants business operator – as

Dutch Sustainable Maritime Solutions Presented

left to right Roel de Graaf (Managing Director NMT), Hans Voorneveld (Chairman NMT), Brigit Gijsbers (Ministry of Infrastructure and the Environment), Salima Belhaj (Member of the Dutch Parliament party D66), Margot Ribberi

On October 10, 2016, during the Dutch national Sustainability Day, on board of the MS Borelli, a barge that has been converted with electric propulsion, the 178 sustainable maritime solutions powered by the Dutch and collected by Netherlands Maritime Technology (NMT) have been presented

Lithuania Terminal Operator to Start LNG Bunkering in 2017

Lithuania plans to start liquefied natural gas (LNG) bunkering next year, and will soon call a tender for a test cargo, Klaipedos Nafta, the operator of the terminal, said on Wednesday.   The onshore bunkering station at Klaipeda port would be able to reload 250

Inland Waterways A Game Changer in India

Photo: Official Twitter Page of Nitin Gadkari

 Indian Minister for Road Transport Highways & Shipping,  Nitin Gadkari gave an overview of his Ministry’s achievements as well as plans for future growth.    Beginning with Shipping, he informed that while ports around the world had faced losses

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