HMM in New Alliance Deal
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 contract signing next month, will cover Japan, China and South East/West Asia trades. The alliance will include vessel sharing, slot exchange and slot purchase agreements, as well as additional…
Start of 2017 Looks Rocky for Asian Tankers
Asia’s crude tanker market faces the double whammy of a flood of newbuild deliveries and a cut in OPEC production in Q1 2017. On the supply side, net capacity growth is estimated to be around 5 percent for VLCCs, 9.6 percent for Suezmaxes and 7 percent for the Aframaxes/LR2 segment in 2017. At least 50 percent of the newbuild VLCCs and Suezmaxes will be delivered in Q1, worsening the oversupply of tonnage. On the demand side, OPEC’s planned output cut of 1.2 mmb/d starting January will lead to less crude export cargoes with the VLCC segment bearing most of the brunt.
Spot box rates rise above 5-year average - Drewry
Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1,785 for the Rotterdam-New York index (up $4 this week), $2,210 for the Shanghai-Rotterdam index (up $257 this week) and $2,106 for the Shanghai-Los Angeles index (up $545 this week). On the back of 1 January GRIs, the World Container Index between Shanghai and Rotterdam rose by 13% to reach $2,210 this week.
Spot Box Rates Rise Above 5-Year Average
Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years, said a report by Drewry. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1,785 for the Rotterdam-New York index (up $4 this week), $2,210 for the Shanghai-Rotterdam index (up $257 this week) and $2,106 for the Shanghai-Los Angeles index (up $545 this week). On the back of 1 January GRIs…
Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG
Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material. Samsung Total Petrochemical, LG Chem and Royal Vopak are among a number of companies in Asia expanding import terminals or retrofitting plants over the next one to two years as they buy more LPG. The gas is used by petrochemicals firms to make a broad range of consumer and industrial plastics. Asian petrochemicals firms have traditionally used naphtha as a raw material. They are now switching to LPG because rising U.S. supplies have pushed prices below those of both naphtha and LPG from their main supplier, the Middle East.
American Hellenic Insures 1,000 Vessels
American Hellenic Hull Insurance Company (AHHIC) has already provided cover for 1,000 vessels managed from Europe, the Americas and Asia, said said Vincent Solarino, Chairman of the Board of Directors of AHHIC and President and COO of Shipowners Claims Bureau, managers of the American Club. The company’s remarkable initial success that exceeds targets for first six months, underlines its ability to become a global player in the marine hull market as well as industry recognition of AHHIC’s backers and managers, he said.
Geodis Wilson Appoints New Cluster MD
Geodis Wilson announced the appointment of Rene Bach-Larsen as Cluster Managing Director of Singapore and Southeast Asia. Looking forward to his new role of developing Geodis Wilson’s business in one of Asia’s most dynamic economical hubs, Rene said, “The Southeast Asia market—Singapore, Indonesia, Malaysia, Thailand and Vietnam—is certainly often overlooked as a growth area because of its modest size compared to the biggest players China and India. However, from a global perspective, it is actually a key area. It has weathered the global recession well and is experiencing rapid growth.
Wall Named MD of RichLand-LSP
RichLand-LSP strengthens chemical logistics business unit with appointment of Graham Wall as Managing Director; Singapore-based logistics solutions provider looks to expand in South-East Asia region under new leadership. Leading chemical logistics solutions provider RichLand-LSP has appointed Graham Wall as Managing Director as it looks to expand its bulk liquid chemical transport operations throughout South-East Asia. Mr Wall brings 25 years of chemical logistics experience…
CMA CGM Group Takes Delivery of Corte Real
CMA CGM Group took delivery this morning, Monday August,16th, in South Korea of the CMA CGM Corte Real (13,830 teu) built by DSME (Daewoo Shipbuilding and Marine Engineering), the third of a series of eight vessels named after the great explorers. CMA CGM Corte Real (365 meter long, 51,2 meter large and 15.5 meter draught) is up to date the largest vessel sailing under the UK flag, a European flag which is part of the white list of the “Paris Memorandum of Understanding on Port State Control” a guarantee of safety, security and environmental protection. The vessel will join the CMA CGM Christophe Colomb and CMA CGM Amerigo Vespucci on the FAL5 service (French Asia Line) linking Asia to North Europe.
Global Shipbuilding to Turn Around in 2017: Castrol
Despite a marginal deterioration in the growth outlook for the global shipbuilding industry, annualized five-year growth rates for the sector are still forecast to reach a healthy 3 to 5%, before picking up substantially after 2017, says Castrol Marine Trade Barometer. The Barometer predicts that growth will be driven largely by the Asia-Pacific region, but also Latin America and the Middle East. All European nations but the Netherlands face a downward trend until 2017. Mandhir Singh, COO at Castrol, says, “The main growth in shipbuilding will come from AsiaPacific countries to 2019.
Wan Hai Join TBS Service with “K” Line
Taiwan's Wan Hai Lines Ltd will expand further on its already extensive south-east Asia network by joining Thailand-Belawan Service (also known as TBS) on 7th of January 2017, to provide a direct service from Thailand to Belawan. The service will be jointly operated with "K" Line, by using 2 vessels with effective capacity of 1,400 TEU. Wan Hai and "K" Line will deploy one vessel each. TBS service will be a 14-day fixed round trip schedule, the port rotation will be: Bangkok – Laem Chabang – Singapore – Port Klang North Port – Belawan – Singapore – Laem Chabang – Bangkok.
Fleet Growth: Private Trends And Public Developments
According to Clarksons Research, the world fleet has experienced a sustained period of growth during the last decade, with owners based in the Asia/Pacific region responsible for the largest share of this expansion. However, since the start of 2014, European owners have regained market share. Whilst European fleet growth has traditionally been driven by private owners, recently it has been public companies growing at the fastest rate. Since the start of 2014, the European owned fleet has grown by 49.4m GT, accounting for 51.6% of global fleet growth.
ARL Strengthens Asian Presence
Rolf G. Oetter, Founder and President of Albacore Research Ltd (ARL), and Dr. Oskar Lee announced the official launch of ARL Asia Pte Ltd (ARL Asia) as solutions provider and training and technical center for ARL’s ShipConstructor software in Asia. ShipConstructor is the powerful AutoCAD based 3D product-modeling software for the design and fabrication of ships and offshore structures. As Director of ARL Asia, Dr. Lee will provide CAD/CAM system integration in the Asia Pacific region for all ShipConstructor clients, with the aim to co-ordinate sales and technical support. To aid this effort, ARL Asia has enhanced its website (www.shipconstructor.com.sg) to provide full product, training and exhibit information for ShipConstructor’s Asia-based clients. “Under Dr.
Royal Caribbean Anchors In Asia
Royal Caribbean Cruises Ltd. announced the opening in Singapore of its Asia-Pacific headquarters - Royal Caribbean Cruises (Asia) Pte. Ltd. The regional headquarters, which is located in Singapore's central business district, will support the marketing efforts in the Asia-Pacific region for three of the company's cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Cruises. Headed by Rama Rebbapragada, managing director for Asia Pacific, the office also will provide sales and trade support in the region. With the number of cruise guests sailing in the Asia-Pacific region projected to grow by more than 40 percent, from 1.07 million in 2005 to 1.5 million by 2010, the opening of Royal Caribbean's Asia-Pacific regional office is strategically timed.
CMA CGM Services to Asia and Mexico, Central America & WCSA
In a continued effort to provide our customers with reliable and efficient services from Asia to Latin America, CMA CGM wishes to inform about the improvement of ACSA services linking Asia to Mexico, Central America and West Coast South America. Port coverage will increase and will be improved with: Pusan EB call, Balboa EB and Coronel on ACSA 2. CMA CGM will keep providing the most efficient services to link Asia to West Coast Latin America and Caribbean: 4 unique direct services from Asia to Mexico…
Sea Asia 2011 Ends - Record breaking 12,167 Participants
Sea Asia 2011 ended on a high note this evening with a clutch of records broken at what is now confirmed as Asia’s leading maritime conference and exhibition. As Sea Asia closed at Marina Bay Sands Expo and Convention Centre in Singapore, it was revealed by the organisers that 12,167 people attended the three-day event this week. Over 90% of visitors surveyed agreed that Sea Asia 2011 is a leading and prestigious industry event. The number, comprising visitors, exhibitors, conference delegates, speakers and media, was announced as the dates for the next Sea Asia were confirmed.
Asia Plays Intricate Role In Marine Fuels
The International Bunker Industry Association (IBIA) pointed out the role that Asia will play in the future of the marine fuels industry. As announced at IBIA's recent Bunkering in Asia" conference held in Hong Kong, Asia's leading bunker hubs, include Singapore and Hong Kong, where annual bunker deliveries topped 18 metric tons and three metric tons respectively in 1998. The conference was opened by Stephen Ip, secretary for economic services, Hong Kong Special Administrative Region, who stressed Hong Kong's role as a replenishment port in Asia.
New Europe-Asia Heavylift Service
BBC launches new heavy-lift cargo service between Europe and Asia. On 26 March 2012, the BBC KARAN was the first vessel in the new Europe-Asia service of the multi-purpose and heavy-lift cargo shipping company BBC Chartering to berth at C. Steinweg (Süd West Terminal) in the Port of Hamburg. In Hamburg, the new “BBC Euro-Asia Express Line” service will be offering bi-weekly eastward sailings to Asia. Alongside Hamburg, export cargo for Asia will be loaded at the following European ports: Rauma, Kristiansand, Antwerp, Bilbao and Porto Maghera.
Singapore Cruise Conference Check-in
Focusing on regional growth and development, the event will feature two full conference days, travel agent training, buyer appointment programs, and a full trade show floor. There are major developments in the cruise industry marketplace with Asia, Asia-Pacific, and Australia set to host about 1.2 million passengers in 2012. Rama Rebbapragada, Chairman of the Asia Cruise Association and speaker at Cruise Shipping Asia-Pacific said, " A major opportunity is the continuing popularity of cruising as a mainstream vacation option within Asia coupled by the increased deployment of newer and larger ships into the region. The Cruise Shipping…
Cruise Industry Legend to be Honored at Upcoming Awards
Cruise Shipping Asia-Pacific introduces the inaugural Rama Rebbapragada Award for outstanding contribution to the cruise industry in Asia (Rabbapragrada made a name for himself throughout the cruise industry during his quarter of a century with Royal Caribbean International). This award, say the organizers, will honor an individual who has made a particularly noteworthy contribution to the development of the cruise industry in Asia, distinguishing themselves through their dedication to, and passion for, the industry within the Pan-Asia region.
G6 Alliance Modifies Asia-Europe
The G6 Alliance has strengthened its Asia-Europe service by adding additional ports. The G6 alliance, consisting of APL, Hapag-Lloyd, Hyundai Merchant Marine, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Orient Overseas Container Line, will be upgrading its Loop 7 service to include calls at Gothenburg and Antwerp. One of the G6 Alliance operators Hapag-Lloyd, said that in response to market demand, members of the Alliance announced the following Asia – Europe service enhancement to improve the connection between Asia and Scandinavia.
Evergreen Line and CKYH Enter Into Cooperation Agreements
Evergreen Line and Cosco, "K" Line, Yang Ming, Hanjin have agreed to initiate individual cooperative arrangements on Asia-Europe trades, starting April, 2012, as announced last December. This cooperation between Evergreen Line and the four CKYH Lines is designed to offer customers the best sailing frequency, transit time and service coverage to fulfill customers' needs. These bilateral arrangements will be implemented in eight weekly services for Asia - North Europe and four for Asia – Mediterranean, including direct services for Asia-Adriatic regions, calling Rijeka, Koper and Trieste. Weekly services for Asia-North Europe, which offer the highest frequency in the market…
CMA CGM Reshuffles Asia–USEC Services
CMA CGM announces the reshuffling of its services on the Asia – US East Coast trade. A service operated by CMA CGM with 11 vessels of 5 500 teus. A service operated by China Shipping, Evergreen and UASC with 9 vessels of 4 000 teus. The Columbus Suez service operated by CMA CGM and Maersk Line with 16 vessels of 8 100 teus remains unchanged. “The strengthening of our Asia / USEC loops means 3 departures a week and a wider geographical coverage.