Ocean Shipping Slows Down as Pandemic Pummels Retailers
The $1 trillion container shipping industry is in a slowdown. Literally.Some shipping lines, whose retail customers are being hammered by the coronavirus pandemic, are reducing sailing speeds and taking longer routes around Africa, avoiding Suez canal passage fees, according to the companies and ship-tracking specialists.Many are also cutting down the number of voyages and providing short-term storage for clients as the industry, which includes heavyweights like Maersk, MSC and Hapag-Lloyd…
Inmarsat Extends Seafarer Support
Satellite communications provider Inmarsat says it continues to ramp up its response to COVID-19, with additional initiatives to improve seafarer wellbeing. These initiatives include further collaboration with ISWAN (International Seafarers’ Welfare and Assistance Network) and maritime charities, the launch of a new chatcard and the wider roll-out of a COVID-19 video telemedicine call service.As the pandemic has unfolded, the ompany has worked closely with welfare organization…
Inmarsat Offering Crews Discounted Voice Calls
Inmarsat has formalized a 50% discount for crew voice calling services available for up to 40,000 ships in response to the COVID-19 pandemic and its impact on seafarer well-being.The maritime satellite service provider is also ensuring that calls made to the SeafarerHelp service provided by welfare organization ISWAN (International Seafarers’ Welfare Assistance Network) are available free of charge. In addition, Inmarsat is working with crew healthcare specialist Vikand and software platform provider FrontM…
AGL Decision on LNG Import Terminal Expected in FY2019
AGL Energy Ltd, Australia's biggest power producer, expects to make a final investment decision on the country's first liquefied natural gas (LNG) import terminal in the financial year of 2019, a company official said on Friday.The A$250 million ($189 million) project will consist of a leased floating storage and regasification unit (FSRU) and jetty at Crib Point in the southeastern state of Victoria. The terminal will handle up to 130 to 140 petajoules a year, or 2.6 million tonnes of LNG, by 2020 or 2021."We are working to progress the project to a final investment decision in the financial year 2019 and are on track to do that," said Phaedra Deckart…
General Mills Strategically placed in Port Salford
General Mills UK & Ireland – responsible for a range of market-leading brands, including Old El Paso, Green Giant, Betty Crocker and Nature Valley – is to be the first tenant at a new state-of-the-art distribution hub that will save 600,000 road haulage miles each year whilst providing a “future proof” solution to market trends. The 280,000 sq. ft. site at Port Salford – which will be run by food and drink logistics expert Culina Group – will act as a central hub for General Mills’ ambient brands arriving by short sea freight from Europe. Located adjacent to the Manchester Ship Canal and next to the arterial motorway routes of the M60 and M62…
Retailers Head North of England
A shortage of inland transport capacity and increased waiting times for lorries at ports in the south of England have brought an uplift in the volume of containers to the Port of Liverpool. Over the last 12 months Metro Shipping has transferred several high-profile retail customers from Felixstowe and Southampton to Liverpool to realise the benefit of reduced inland haulage costs, especially for goods coming from the Far East and US. Metro Shipping handles over 80,000TEU per annum through the UK, both inbound and outbound, and works with various end users including international retail chains. Owners of the Port of Liverpool, Peel Ports Group…
Navico Appoints New Regional Sales Managers
Navico, parent company to the Lowrance, Simrad Yachting and B&G brands, announced the hiring of two new Regional Sales Managers, Chris Melena and Russ Stevens. Melena and Stevens will drive sales and support dealers, distributors and retail customers in the Great Lakes and New England regions, respectively. Each Sales Manager has over a decade of experience in the marine industry and brings a wealth of talent to the Navico sales team. Prior to joining Navico, Melena was a Regional Sales Manager with Raymarine in their Great Lakes territory. He entered the marine industry in 1993 and has held positions at Captain’s Marine Supply and West Marine. Mr. Melena grew up boating on Lake Erie and is an experienced sailor. He is a graduate of Miami University and resides in Catawba Island, Ohio.
CENTRE GROUP, TUFTON OCEANIC STRUCTURE HIGH-YIELD CDO
Shipping Bond Fund Ltd. A member of the Centre Group and TuftonOceanic have completed what is believed to be the first collateralized debt obligation (CDO) comprised entirely of high-yield shipping bonds. The $50 million CDO, Shipping Bond Fund Ltd., is unique due to its size and the fact that it selected assets solely from a select group of shipping industry bonds with high asset coverage ratios. Centre looks for opportunities to work with experienced partners to structure and provide capacity to CDOs and other asset-backed structured finance transactions through the application of non-traditional insurance and reinsurance products.
Old Company with a Modern Vision
In 1994, 27-year-old Thomas B. Crowley Jr. faced the kind of challenge that few can imagine. With the untimely passing of his father, he had suddenly ascended to chairmanship of a diversified international organization employing over 5,000 people, operating more than 200 vessels, and generating annual revenues in excess of $1 billion. Just six years out of college at the time, the eyes of the maritime world were focused on the young man and his impending adventure, wondering how well he would take the reins of Crowley Maritime Corporation. Founded by his grandfather Tom Crowley in 1892, and run by his father Thomas B. Crowley since the mid-1960s, Crowley Maritime began with a single 18-ft rowboat servicing ships and sailors in San Francisco Bay.
Navionics Makes Changes to Sales Team
Navionics announced two changes to its national sales management team. The company has hired Tshombe Moore as the new West Coast Regional Sales Manager and Terry Crockett, the former west coast manager, will relocate to become the Southeast Regional Sales Manager. Moore will support dealers, distributors and retail customers in California, Nevada, Oregon, Washington and British Columbia, while Crockett will service accounts in Florida and Georgia. A seasoned sales professional with over twenty years of experience, Moore brings a knowledge of marine electronics and customer service skill to the team. Crockett is a twenty-year veteran in the marine industry and has been a strong member of the Navionics team for the last four years.
