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Cosco Endorses Panama Canal Expansion

Captain Wei Jiafu, President and CEO of China Ocean Shipping Company (COSCO), recently endorsed the potential Panama Canal expansion, citing that a more modern, Canal will benefit the global economy and world trade. Nearly five percent of total world trade transits the Panama Canal. Of this trade, 88 percent flows between the United States and Asia. In a speech given in Panama last month, Captain Wei stated that with the rapid development of China’s economy, the Panama Canal becomes more important as a vital link for China to import and export goods to and from the East Coast of the United States, the Caribbean and the East Coast of South America. “I fully support this expansion plan. I believe that the expansion of the Canal will enable more ships to utilize the Panama Canal. It will not only strengthen Panama financially by bringing considerable revenues, promote development of Panama’s maritime industry, and ensure Panama’s position as the regional maritime center, but it will also benefit the growth of regional and world trade,” said Captain Wei.

Britain To Push For WTO Shipping Agreement

The British government will press the U.S. to agree to a liberalization of shipping services at the next round of world trade negotiations, according to a government minister. "The Government will press the U.S. strongly to come on board with a meaningful liberalizing offer," junior trade and industry minister Patricia Hewitt said. However, she conceded that negotiations on maritime transport services could be difficult when the World Trade Organization meets in Seattle in December

WTC Steel Sent to Northrop Grumman Shipyard

Steel salvaged from the World Trade Center is headed to the Ingalls Shipyard in Mississippi. The steel was removed Friday from the Fresh Kills landfill on Staten Island, N.Y. and will be used in the USS New York. The structural steel, weighing about 20 to 30 tons, will be melted down and used to configure the leading edge of the ship’s bow according to a Northrop Grumman spokesman. The USS New York will be the fifth of the 12 amphibious assault ships in the San Antonio class and is

Panama Celebrates Decade of Canal Management

Photo courtesy ACP

December 31, 2009, marked a decade of management of the Panama Canal by Panama. This vital trade artery has long stood as one of the world’s most recognized and respected engineering marvels and a crucial link in the global supply chain. Building on this, the decade of Panamanian stewardship and leadership has been evidenced by change, achievement and growth. By nearly every measure, the Canal’s role in world trade and value to global commerce has increased significantly in the

Maritime 'Silk Road' Between China, Middle East & Africa

HSBC reminds UAE forum of growing importance of MENA (Middle East, North Africa) & China trading corridors Trade corridors between China and the MENA region carry huge economic growth potential for businesses, offering the greatest prospects in the commodity and energy sectors said HSBC at its Middle East and North Africa (MENA) and China Forum recently held in the UAE. Emphasising the growth of China as a trading powerhouse

U.S. House Bill Approving LNG Exports

A U.S. House subcommittee voted on Wednesday to advance a bill that would eliminate the need for government approval of U.S. liquefied natural gas exports to countries that belong to the World Trade Organization.   The legislation, which will be considered by the full House energy committee, would essentially end the Energy Department's review of LNG export applications. (Reporting by Ayesha Rascoe; Editing by Jeffrey

ABS: All Employees Evacuated Safely From WTC Office

ABS confirms that all employees of its New York Executive Office, located on the 91st floor of One World Trade Center, evacuated safely from the building. The office normally staffs 22 people. At the time of tragedy 16 employees were either in the office or in transit to the office. All 16 employees are accounted for. Physical injuries were limited to minor cuts and abrasions. "It is miraculous given the point of impact of the aircraft was immediately above the ABS offices

WESMAR Honored for Export Achievement

The presentation of an Export Achievement Certificate to Small and Medium-Sized Firms was awarded to WESMAR in late May of 2002 by the United States Department of Commerce, International Trade Division. Commerce Deputy Secretary Samuel Bodman highlighted World Trade Week by presenting three Washington companies with the U.S. Department of Commerce's Export Achievement Award. The award recognizes business clients of the Department's Commercial Service that have used their services to make

ACP Reaches Milestone in Canal Expansion

ACP_Milestone_oct 20.JPG

Panama President and Canal Authorities Commemorate New Milestone in Canal Expansion Work. Panama President Ricardo Martinelli witnessed a new milestone at the Canal Expansion with the filling of a segment of the new access channel that will allow the transit of Post-panamax vessels between the new Locks and the Culebra Cut. Panama Canal Authority Board of Directors Chairman and Canal Affairs Minister Rómulo Roux and Panama Canal Authority Administrator Alberto Alemán Zubieta

Chinese Slowdown Hitting Container Shipping

Image: The Hanjin Group

 The slowdown in China’s economy poses some risks for container shipping, according to Drewry Maritime Research.   According to a new report from Drewry Shipping Consultants Ltd, the risks from a slowdown in Chinese consumption to container shipping are far smaller than for the dry bulk sector, but they are not inconsiderable and will contribute to slowing world box growth.   Container-shipping lines

China Says Unaware of Plan to Discuss Sea Dispute at APEC

China is not aware of any plan to discuss the disputed South China Sea at an Asia Pacific leaders' summit next week, a senior Chinese diplomat said on Tuesday, amid tensions between China and the Philippines over the waters.   For its part

Dry Bulk Shipping Record Low a Warning for Global Economy

A slump in dry bulk shipping is set to worsen as the meltdown in global commodities and too many ships free for hire rock the sector used by investors to gauge the health of world trade.   Slower coal and iron ore demand from China - the world's biggest industrial importer - have battered

FDNY Honors 9/11 Hero Feehan at Boat Christening

The vessel’s nameplate, displayed prominently alongside the cabin, is milled from an I-beam lifted from the rubble of the World Trade Center. (Photo: Greg Trauthwein)

November 20, 2015 (New York) -- Today at Pier 16 in lower Manhattan the New York City Fire Department (FDNY) honored William M. Feehan by christening and commissioning of the new fireboat William M. Feehan.   Captain Louis Guzzo led the ceremonies which included a number of dignitaries from

U.S. loses WTO Appeal in Mexican Tuna Dispute

Courtesy WTO

  The World Trade Organization's Appellate Body ruled against the United States on Friday in a dispute with Mexico over tuna labelling, upholding an earlier ruling issued in April that found U.S. rules discriminated against Mexico. "The Appellate Body concludes that the United States

Shipping Confidence Levels Rise to 2015 High

Richard Greiner (Moore Stephens)

Overall confidence levels in the shipping industry rose in the three months ended August 2015 to their highest level this year, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens

APM TEC2 Receives Cranes

APM Terminals Lazaro Cardenas Mexico receives new cranes

The first three of the world’s largest and most technologically advanced Ship-to-Shore (STS) container cranes and two rail mounted cranes for the intermodal rail facility have been delivered to APM Terminals’ Lázaro Cárdenas (TEC2)

UASC Expanding its Reefer Business

Photo courtesy of UASC

United Arab Shipping Company (UASC) has confirmed  that its reefer business will continue to expand. Following several initiatives including investment in new reefer units, and a cooperation agreement with Hamburg Süd opening up new services to South America

Box Shipping Eyes More Overcapacity, Financial Pain

File photo

Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain, according to the latest Container Forecaster report published by global shipping consultancy Drewry.

FDNY Boat Named for Firefighter Lost on 9/11

FDNY’s new fireboat, William M. Feehan, features a nameplate milled from an I-beam lifted from the rubble of the World Trade Center (Photo: MetalCraft Marine)

New York City Fire Department poised to take delivery of state-of-the-art fireboat, named after firefighter lost in the September 11 World Trade Center attacks   Construction of FDNY’s newest fireboat, William M. Feehan, has been completed by shipbuilder MetalCraft Marine Incorporated

APM Terminals Izmir Set for Opening

Final deliveries of remaining STS cranes and RTGs scheduled for December for 1st Quarter 2016 operations

With the delivery of five Rubber-Tire Gantry Cranes (RTGs) and two Ship-to-Shore (STS) gantry cranes capable of handling Ultra-Large Containerships (ULCS) of up to 16,000 TEU capacity, the new 1.3 million TEU deep-water APM Terminals Izmir facility is nearing completion in anticipation of

US Navy to Send Destroyer Near Chinese Islands

USS Lassen (U.S. Navy photo)

The U.S. Navy plans to send the USS Lassen destroyer within 12 nautical miles of artificial islands built by China in the South China Sea within 24 hours, the first of more regular challenges to China's territorial claims, a U.S. defense official said on Monday.

Maersk Axe on Jobs

Photo: Maersk Tankers

 Maersk Oil, part of Danish conglomerate A.P. Møller-Maersk A/S, will cut 10% to 12% of its workforce as part of a plan to reduce operating costs by a fifth by the end of next year, amid weak oil prices.    The oil business of Danish conglomerate sets to cut 1

Angry China Warns U.S. Navy Ship

Map by Asep Setiawan

 A US Navy guided-missile destroyer sailed close to China’s man-made islands in the disputed South China Sea, drawing an angry rebuke from Beijing, which said its warships tracked and warned the American vessel, reports Reuters.  

Shipping Braces for post-Paris Pollution Tax

Brussels sets end-2016 deadline for CO2-cutting proposals by IMO. The shipping industry expects to be stung by a carbon levy as momentum building from climate talks in Paris starting this month makes a cut to its greenhouse gas emissions likely.

China: U.S. Patrol in S.China Sea 'harmed trust'

The patrol by a U.S. warship close to islands China controls in the South China Sea harmed mutual trust between China and the United States and caused regional tensions, Chinese Foreign Minister Wang Yi told his U.S. counterpart in a call.

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