The Port of Los Angeles, Ports of Auckland in New Zealand and Guangzhou in China have signed a memorandum of understanding (MOU) a ground-breaking Tripartite Economic Alliance for promoting closer ties. “The port of Los Angeles looks forward to collaborating with the ports of Auckland and Guangzhou on a series of initiatives, including promoting commercial and business opportunities as well as sharing innovative best practices,” said ambassador Vilma Martinez, Los Angeles harbor commission president. Los Angeles, Guangzhou and Auckland are sister cities and strategic trading partners that share similar economic goals. The newly formed alliance provides a platform for growing trilateral cooperation to foster trade, innovation and investment opportunities between the public and private sectors of the three regions. Objectives within the memorandum of understanding include sharing of best practices and expertise; strengthened communication and collaboration on investments, technologies and environmental policies; and working together to enhance capabilities of each port in order to boost their respective regional economies. The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit Southern California’s economy and quality of life.
A division of Aberdeen-based Aiken Group announced an upturn in its overseas business in recent months. Aiken Marine, which supplies a range of services to the global marine and offshore industries, has seen a rise in its business supplying and brokering newbuild resale drilling jackups and offshore supply vessels in Mexico, West Africa, the Middle East and Far East. Marine manager Steve Grant said, “In order to be at the forefront of any industry
OSL Offshore Systems & Deck Machinery has formed a business alliance to manufacture and supply turnkey ballast systems for offshore drilling and production rigs. The alliance partners of OSL Offshore Systems, Rotork Controls, FloTec and W&O forms a comprehensive organization that services the offshore industry with each group's strengths as leaders for process valves and value automation, integrated PLC controls and hydraulic power.
Reliance Industries Limited and BP today announced a historic partnership between the two companies. Mr. Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, and Mr. Robert Dudley, BP Group Chief Executive, signed the relationship framework and transactional agreements in London. The partnership across the full value chain comprises BP taking a 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India
Taking another step in forming The Northwest Seaport Alliance, commissioners from the ports of Tacoma and Seattle voted Friday to submit a final agreement to the Federal Maritime Commission (FMC) for approval. The Northwest Seaport Alliance will unify the two ports’ marine cargo terminal investments, operations, planning and marketing to strengthen the Puget Sound gateway and attract more marine cargo for the region.
The restructuring of the ocean carrier alliance system, triggered by merger and acquisition activities by shipping companies, is a logical business development, but if not carefully monitored and regulated, could also represent a move toward reduced services for shippers, said Mario Cordero, Chairman of the Federal Maritime Commission (FMC). Cordero articulated this concern during remarks he made at the 2016 International Trade Symposium hosted by the Virginia Maritime Association in
Jones Walker today announced the expansion of its government relations practice with the addition of John S. Doyle, Jr., Vice President of Government Relations for Waterways Work!, as special counsel in the firm’s Washington, D.C. office. In making the announcement, R. Christian Johnsen, head of Jones Walker’s Washington office, said, “Mr. Doyle will continue to represent Waterways Work!, a client since 2001, and other Jones Walker clients in the areas of government relations with a
Linde has formed a Global Alliance with Single Buoying Mooring Inc. (SBM) to develop and market Floating Production, Storage and Offloading units (FPSO) for the growing Liquid Natural Gas (LNG) industry, based on Linde's proprietary natural gas liquefaction technology. After having finalized a generic concept for a LNG FPSO with a yearly capacity off app.2.5 million metric tons of LNG, global marketing efforts will start as of today
Norwegian tanker operator Iver Ships will join forces with Japan's Mitsui O.S.K Lines to form the second biggest clean tanker alliance in the Asia Pacific region. Iver said the two companies would merge their medium-range (MR) tanker fleets over the next six months to form a pool of 12 45,000 tonners. "Our customers -- the oil majors and petrochemical companies -- are globalizing to form bigger units, and they're looking to concentrate on a few service providers capable of doing a bigger part
Hanjin’s bankruptcy leaves the proposed carrier grouping THE Alliance at a size disadvantage to both its future rivals. Might a replacement be called up? Drewry says that the container shipping industry is in a state of flux at the moment and nobody can honestly say they know for certain what the landscape will look like in six months from now. Even before Hanjin Shipping filed for bankruptcy protection the industry was preparing itself for big changes
The U.S. Justice Department has ordered top executives from several container shipping lines to testify in an antitrust investigation into an industry that is the backbone of global trade, the companies said on Wednesday. The world's biggest container shipper, Denmark's A.P
The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Korea Gas Corp (KOGAS) said on Thursday it had signed a memorandum of understanding in mid-March with
A decade-long project to promote implementation of an international treaty stemming the transfer of potentially invasive species in ships’ ballast water has reached a successful conclusion at a meeting of stakeholders from Governments, industry and UN bodies.
The world's largest containership, MOL Triumph, was delivered to Mitsui O.S.K. Lines (MOL) from Samsung Heavy Industries on March 27, 2017. MOL's newest vessel, the first of a fleet of six 20,000 TEU-class containerships for the company
Responding to the December 20th joint statement from the United States and Canada, regarding development of a strategy to phase out their use of heavy fuel oil (HFO) from vessels operating in the Arctic, the Clean Arctic Alliance praised both Arctic nations for their ambitious action to rid the
The port of Antwerp will close 2016 with an expected record volume of more than 214 million tonnes of freight handled. The shipping container volume for its part has risen above 10 million TEU (twenty-foot equivalent units, i.e. standard containers) for the first time in the history of the port
Hyundai Merchant Marine (HMM) said it has signed an agreement with intra-Asia trade carriers Heung-A Shipping and Sinokor Merchant Marine to form a container shipping alliance called the HMM + K2 consortium. The HMM + K2 consortium, which is slated to start operation in March after a formal
Singapore continues to attract a diverse range of maritime businesses and is now home to over 130 international shipping groups and more than 5,000 maritime establishments. The maritime cluster employs more than 170,000 people and contributes some seven per cent to Singapore’s Gross Domestic
Slowed by industry headwinds and challenges that included major customer Hanjin declaring bankruptcy, the Port of Long Beach said it moved almost 6.8 million containers in 2016, its fifth best year ever. Overall cargo declined 5.8 percent in 2016 compared to 2015
The Port of Singapore sustained its performance in 2016, amidst weaker-than-expected global economic conditions and significant structural changes in the maritime industry. Annual vessel arrival tonnage increased by 6.3 per cent in 2016 compared to 2015, reaching 2
The Coast Guard and good Samaritans are responding to the report of a vessel on fire approximately 150 miles south of Southwest Pass, Louisiana, Monday. Watchstanders at the Eighth Coast Guard District command center received a report at 3:28 a.m
Expedition cruise ship operator Hurtigruten has joined international environmental organizations in efforts aiming to spearhead the protection of Arctic communities and ecosystems from risks posed by the use of marine heavy fuel oil (HFO) to power ships.
A unit of Swiss shipping group MSC has bought a stake in U.S. ports operator Total Terminals International (TTI) from Hanjin, MSC said on Wednesday, having overcome objections from the South Korean line's U.S. creditors. Privately owned MSC, the world's no
In a ground-breaking analysis Drewry has examined the correlation between carrier terminal ownership and the choice of port calls by the 2M and upcoming Ocean and THE liner alliances. The results show that the choice of port call is often not in line with carrier terminal
The members of THE Alliance announced a contingency plan in the event a member of THE Alliance suffers a bankruptcy. The five member lines Hapag Lloyd, K Line, Mitsui OSK Lines, Nippon Yusen Kaisha and Yang Ming will establish an independent trustee to manage funds to be used