ON THE ROAD
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.
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.
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 $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 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
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
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
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
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.
The U.S. Coast Guard said the Port of Virginia will close Friday at midnight in anticipation of Winter Storm Helena, which is expected to bring snow and wind which will likely create particularly hazardous conditions, including zero visibility onshore and on the water.
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
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
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
The Utah Point Multi-User Bulk Handling Facility (Utah Facility) at the Port of Port Hedland has marked a milestone with 100 million tonnes (Mt) of exports since its commissioning in September 2010. The achievement took place on 22 November 2016 following the loading and departure of MV Ju Hua
Standardising trade processes and developing Vietnam’s infrastructure will attract more investment from global trade enablers like DP World, according to its Group Chairman and CEO Sultan Ahmed Bin Sulayem, who met with Vietnamese President Tran Dai Quang at the presidential palace in
The business portfolio internationalization and the development of river operations are two of ETE Group’s strategic focus, as referred last Friday on the 80th birthday ceremonies at Naval Rocha shipyard (in Lisbon) with the presence of the President of Portugal, Marcelo Rebelo de Sousa
The European Commission said on Monday it had approved two Italian public support schemes designed to shift freight transport from roads to cut congestion and pollution. The first measure, with a budget of 255 million euros, aims to shift freight traffic to rail by granting subsidies to rail
The shipping industry faces the threat of paying a levy to the European Union on its greenhouse gas emissions as lawmakers from the bloc grow increasingly impatient with the slow progress being made by the global effort to tackle the issue.
India has one of the largest merchant shipping fleet and ranked 17th among the developing countries with average age of the fleet being 18.03 years. 95% of the country’s trade by volume (68% in terms of value) is moved by sea.
The family-owned company Sandahlsbolagen Sweden AB has signed a five-year agreement with Gothenburg Port Authority to operate the new intermodal terminal at the port. Operations will commence by end of this month. "Sandahlsbolagen has for long time shown an interest in running a intermodal
Coastal shipping provides benefit in the form of less environmental pollution due to lower per km consumption of fuel. However, unavailability of consolidated cargo, return cargo and general lack of awareness among shipper community make coastal shipping unviable.
Korea's Incheon Port is rapidly emerging as a port for government stockpile imports due to a significant increase in imports of US edible soybeans. Incheon Port Authority (IPA) announced that the Korea Agro-Fisheries & Food Trade Corporation (aT) designated Incheon Port as
A new record has been set for the number of containers transported to the Container Terminal at Frihamnen. Never before have so many containers been transported by sea directly to the strongest growing capital city region in Europe and Sweden's largest consumer market.
Spain’s Port Authority of Valencia (APV) has unveiled plans upgrade three of its ports by 2020. The Business Plan approved at the last Board of Directors of the Port Authority of Valencia includes investments in its three ports 56.19 million euros during the year 2017 and plans to invest