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Venezuela and Cuba Sign Economic Integration Agreements

Venezuela and Cuba signed 16 new cooperation agreements in a move that further boosts the Bolivarian Alternative for the Americas (ALBA), a regional economic and social integration initiative launched by the two countries. Venezuelan President Hugo Chavez and Cuban Vice President Carlos Lage attended the signing ceremony held in Caracas. The accords are far reaching in the fields of transport, finances, agriculture, mining, industry, tourism and electricity, according to reports. The agreements also include the possibility of setting up two joint ventures in transportation, particularly shipbuilding and port modernization. The production of stainless steel and ferrous nickel was part of an agreement in the field of mining, while in communications an underwater cable link between the two countries including a satellite system and networks is envisioned. Source: Cuban News Agency

China’s Growth Could Boost Shipping

China’s shift towards a domestic consumer demand-oriented economy could provide a significant boost to the global shipping industry, as the world’s second largest economy targets more sustainable growth. “2013 will be another peak year of new vessel deliveries. Oversupply of capacity is still an obstacle for the shipping industry to overcome, but with the improvement of the world economy, the shipping sector is expected to experience moderate growth

New Sources of Finance Needed for EU Transport Infrastructure

The Transport Committee believes that continued financial inaction on the transport infrastructure may put economic growth at risk. In a report adopted, it calls on the Commission to table proposals on possible new and alternative ways of financing, in particular, the Trans-European Transport Networks (TEN-T). Since the priority investments have been slower than expected, key projects should now be selected for their financial feasibility.

EU Bank Agrees Fos 2XL finance deal

Upon completion of the project, the creation of two new terminals due on stream in 2010, capacity will increase from the current 1m teu per year to 2.5m teu. Some 400 direct jobs will also be generated in addition to several thousand in allied sectors. Backing from the BEI – the European Union finance institution – acknowledges that the scheme meets several criteria for the development of European transport networks. During the signing, M

China, Singapore Partner in Shipbuilding

According to an April 13 report from the People’s Daily Online, the China Shipbuilding Industry Corporation (CSIC) and Singapore's Pacific International Lines (PIL) opened a joint venture - CSIC Pacific. Speaking at the opening of the company, Lim Hwee Hua, Singapore 's Minister in Prime Minister Office and Second Minister for Finance and Transport, said that this CSIC-PIL's partnership is reflective of the close links between China and Singapore.

CMIT's Q1 Volume Double

CHINA SHIPPING vessel at Cai Mep Photo APM Terminals

Cai Mep, Vietnam - With five new services calls added to Cai Mep International Terminal (CMIT) since May of 2015, container volume has surged by 130% to 277,303 TEUs for the first three months of 2016, as compared with the same period a year ago. This growth follows an 80% expansion in container traffic at CMIT in 2015 over the year prior, to 724,768 TEUs.  CMIT, part of the APM Terminals Global Terminal Network, is a deep-water facility located in the Ba Ria‐Vung Tau Province

Spinnaker Reports Buoyant Job Market

Maritime recruitment specialist Spinnaker Consulting has reported that despite general reports of a slowdown in the world economy, recruitment in the shipping, offshore and transport markets remains buoyant. Writing in the latest issue of Changing Course, Spinnaker's monthly e-mail newsletter, managing director Phil Parry says, "Contrary to most industry forecasts, 2002 does not look like being such a bad year for the shipping, offshore and transport job markets

PVA:Moving Cargo, Passengers to the Water

As the U.S. Department of Transportation works to develop transportation policies to meet 21st Century needs, perhaps the most vexing problems faced are those associated with traffic congestion on the Interstate highways which parallel our Atlantic, Pacific and Gulf coastlines. Interstate 95, I-5 and I-10 carry automobile and truck traffic far beyond their design capacities. In the major metropolitan areas, which these highways intersect

New Shipping Risk Management Course

The Baltic Exchange and the Centre for Shipping, Trade & Finance at London’s Cass Business School unveiled plans today (10 March) to deliver a series of executive courses focusing on the management of a range of financial risks in the shipping markets. The two day course “Shipping Risk Management” will cover freight, bunker, ship price, credit, foreign exchange and interest rate risk and will be held in London, Hamburg, Athens, Hong Kong and Singapore during 2005

Cyprus Financial Crisis: Effect on Shipping Interests

Cypriot Transport Minister, Tasos Mitsopoulos, states the nation's shipping registry will not be affected by turmoil in banking sector. The Minister downplayed the impact of Cyprus's banking crisis on the local shipping industry, pointing out that none of the island's banks are active in ship financing, reports Tax-News. Despite Mitsopoulos's assurances, many shipping companies' bank deposits in Cyprus are expected to be heavily impacted by the banking sector developments

Port Challenge Barcelona, committed to innovation and entrepreneurship

Photo Barcelona Port

Innovation and technology use have become a competitive factor for the transport and logistics sector. The Port has launched Port Challenge Barcelona, a programme to support the creation of new technology-based businesses to improve the efficiency and competitiveness of the Port Logistics Community

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

Sembcorp Marine Posts Q3 Loss

Singaporean rig builder Sembcorp Marine Ltd. posted a loss in the third quarter, hurt by higher financing costs and a fall in orders due to weak oil prices.   The company posted a net loss of S$21.8 million ($15.7 million) for the three months ended Sept

Boskalis Wins Work for Hornsea Offshore Wind Farm

Royal Boskalis Westminster N.V. said it has been awarded a contract by DONG Energy Wind Power A/S for the transport and installation of the foundations for a part of the Hornsea Offshore Wind Farm Project One. The entire wind farm will generate a total capacity of 1

France Mulls Majority Stake in STX Yard

France could take a majority stake in the French subsidiary of struggling South Korean shipyard group STX Corp, French daily Liberation said on Monday, citing unnamed sources at the finance ministry. The French state holds a 33 percent minority stake in STX France

New Container Terminal Inaugurated in Iraq

Enrique K. Razon Jr., ICTSI Chairman and President, cuts the ribbon symbolizing the formal opening of the BGT expansion area, the first entirely foreign financed new port infrastructure in Iraq. Photo ICTSI

International Container Terminal Services, Inc. (ICTSI) formally opened the first phase of its new greenfield terminal development at its Basra Gateway Terminal in the North Port, Umm Qasr, Iraq.   The official inauguration of the new facility marks the implementation of the first entirely

DCNS Mulls Buying Stake in STX France

Photo: STX France

The head of the French state-controlled naval defence group DCNS said on Wednesday it was "closely studying" a possible stake purchase in STX France, a shipyard subsidiary of the struggling South Korean conglomerate STX Corp.  

Cosco Raises $1.8bln Capital

Photo: COSCO

 China’s COSCO Shipping Development Co Ltd  announced a proposed nonpublic issuance of about 3.28 billion shares to specific investors, including its parent company, to raise up to 12 billion yuan ($1.79 billion), reports China Daily.  

Seaborne Trade’s Key Role

Graph: Clarksons Research

 Shipping plays a major role in the world’s industries, facilitating the transport of large volumes of raw and processed materials. Clarksons Research takes a look.   However, the maritime sector forms a much more important part of the global supply chain for some commodities and

NYK Establishes Logistics Company for Finished Cars in Kenya

Photo: NYK Line

 NYK has signed a joint-venture agreement with Bolloré Transport & Logistics Kenya Limited (Bolloré) and Toyota Tsusho Corporation to establish Bolloré NYK Auto Logistics Limited, a logistics company for finished cars. 

European Shipping Week Receives EU Patronage

President, Mr Martin Schultz. Photo ESW

European Shipping Week has been granted the European Parliament’s official patronage by its President, Mr Martin Schultz. Commenting on European Shipping Week, Mr Schultz said his institution appreciated the opportunity for open dialogue between policy makers and representatives of the

Foundation of New Krishnapatnam Port Terminal Laid

Hon’ble Minister Santosh Gangwar (Center) with Chinta Sasidhar – Managing Director and Anil Yendluri -  Director and CEO - Krishnapatnam Port Company Limited while laying the foundation stone for the TT terminal at the port.

Santosh Gangwar - Minister of State for Finance, GoI laid the foundation stone of a project intended to offer convenience to transporters CHAs and FFs of the country’s largest all-weather; deep water port on the east-coast of India – Krishnapatnam Port.

Durban Women Scoop Maritime Awards

Sylvia Siyo, Acting Ship Repair Manager in the Port of Durban (left), receiving the Best Head of Department in Transport award from Catherine Larkin, Executive Director of the Chartered Institute of Logistics and Transport. Photo TNPA

Transnet National Port Authority women flew the flag high at the Women in Transport Awards which took place at the Durban ICC on 18 October 2016. The Women in Transport Awards is a collaborative platform co-located with the African Ports Evolution conference and exhibition

EU Transporters Seek Okay for Multi-Annual Financial Framework

Photo: ESPO

 30 European transport associations, representing infrastructure managers, operators, local authorities, users and equipment suppliers in the maritime, inland waterways, railways, road, cycling, aviation and intermodal sectors, call on the European Parliament and the Council to approve the

Danish Maritime Authority to Study Unmanned Shipping

Many believe that masterless ships may become reality within a very short period of time. Surely, the technology for unmanned ships is coming, yet it remains unknown exactly where, when and to what extent.   Now, the Danish Maritime Authority (DMA)

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