Top 10 Ship Owning Nations
VesselsValue's head cargo analyst, Olivia Watkins, has compiled a list of the world's top ship owning nations ranked by total fleet value.ChinaChina has moved up from second in January to firs place this time, owning a total of $191 billion in assets.China owns the largest number of containerships and, consequently, the recent surge in rates and values has moved them up the ranks to top spot in terms of fleet value. The increase in rates has also prompted an ordering spree across the container sector, as owners’ confidence in the market exploded.
Kia Motors to Use Georgia Ports for SUV
Kia Motors Manufacturing Georgia has announced the Telluride, its new eight-passenger SUV, will be shipped to the Port of Brunswick for global markets this month.“The launch of the Kia Telluride, our largest and most refined SUV to date, will be a monumental achievement for KMMG,” said Countess. “From the support we receive from GPA with our inbound parts from our global supply chain to supporting our export of finished vehicles to current and future markets, GPA will play an important role.”Through vertical integration – parts in via Savannah, autos out via Brunswick – Kia takes advantage of Georgia’s extensive road and rail infrastructure…
Hyundai Glovis Bags $1.3bln Contract
Hyundai Glovis, a logistics company headquartered in Seoul and part of the Hyundai Kia Automotive Group, has secured 1.42 trillion won (US$1.3 billion) in orders to ship vehicles, said a report in RTT News. The auto freight unit of South Korea's Hyundai Motor Group quoted as saying that the orders are to ship vehicles built by Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. The report said that, under the two separate deals, Hyundai Glovis said it is set to ship Hyundai and Kia cars to the United States, Europe, the Middle East and Asia until December 2019. The two deals cover up to 60 percent of Hyundai and Kia's exports, respectively. Last year, Hyundai Glovis signed a share purchase agreement with Eusu Ship Management Co., Ltd.
SKorean Shipbuilders Lower on Steel Price Concerns
Hyundai Heavy Industries was down 4,500 won or 1.2 percent at 380,000 won, Samsung Heavy Industries was off 600 won or 1.9 percent to 30,400 won and Daewoo Shipbuilding & Marine Engineering fell 300 won or 0.8 percent to 39,300 won. Hyundai Motor was down 1,300 won or 1.9 percent at 67,600 won and Kia Motors down 50 won or 0.5 percent at 10,400 won. The mainboard KOSPI was down 0.5 percent. Fears are mounting that key steel makers could jack up product prices to reflect higher cost of raw materials, including iron ore and coal. POSCO and Nippon Steel said Monday that they have agreed to a 65 percent increase in iron ore contract prices with Brazil's Companhia Vale do Rio Doce, which will set a global benchmark.
Norway: Teekay Seeks to Grow Suezmax Fleet
Expanding the Suezmax fleet and greater involvement in carrying oil products are among the ambitions being pursued by theTeekay Tanker Services (TTS) business unit of Teekay. "At the same time, we're working to expand our strong Aframax position," said TTS Vice President Peder Farmen, who heads the product transport sector of TTS from the group's Norwegian office in Stavanger. Teekay's conventional shipping operations in Norway have further diversified the company's fleet, the majority of which is comprised of Aframax vessels. Since Teekay's acquisitions of Bona Shipholding in 1999, Ugland Nordic Shipping in 2001 and Navion in 2002, Teekay has established itself as a leading tanker operator in the North Sea and Atlantic, in addition to the Pacific.
