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Business Services News

09 Jan 2024

US Trade Deficit Shrinks on Falling Imports

© sheilaf2002 / Adobe Stock

The U.S. trade deficit unexpectedly narrowed in November as imports of consumer goods fell to a one-year low amid slowing domestic demand, a trend that, if it persists in December, could result in trade having no impact on economic growth in the fourth quarter.The report from the Commerce Department on Tuesday also showed exports declined in November amid cooling demand overseas. Demand is slowing both in the United States and abroad following hefty interest rate increases by global central banks since 2022 to tackle rampant inflation.The Federal Reserve's rate hiking cycle has likely ended…

31 Oct 2022

MARAD Awards Nearly $39 Million in Marine Highway Grants

© raoyang / Adobe Stock

The U.S. Department of Transportation’s Maritime Administration (MARAD) awarded nearly $39 million in grants to 12 marine highway projects across the Nation under the America’s Marine Highway Program (AMHP). The funding will help expand marine highway services on the United States’ navigable waterways to reduce congestion, alleviate supply chain bottlenecks, and move goods more quickly from ships to shelves.“At a time of record demand for goods, it’s more important than ever to…

26 Jul 2021

Carlos Maenhout Retires, Bruno Storms takes the helm at BMT Belgium

Effective July 1, 2021, Carlos Maenhout is retiring from his position as Founder and Managing Director of BMT Belgium, the company that he and his wife founded in 1991, a company subsequently sold to the BMT Group in 2005. Photo courtesy BMT

Effective July 1, 2021, Carlos Maenhout is retiring from his position as Founder and Managing Director of BMT Belgium, the company that he and his wife founded in 1991, a company subsequently sold to the BMT Group in 2005.Carlos Maenhout qualified with a Master of Science in Naval Architecture and Marine Engineering from the University of Ghent, and with an Honors Degree in Maritime Science from the University of Antwerp. His consultancy career in maritime has spanned over four decades…

01 Apr 2021

Jones Capital Acquires Rockport Terminals

Jones Capital said it has acquired Rockport Terminals, one of the largest private intermodal terminals on the Texas Gulf Coast.Rockport Terminals is located within 28 miles of the fast growing Port of Corpus Christi, but outside of the Port's tariff zone. With more than 250 acres of industrial land, Rockport Terminals boasts access to the Intracoastal Waterway, nearby railways and many major highways. Today, the terminal specializes in bulk liquids storage, bulk and break bulk…

21 Oct 2020

FMC Grants Temporary Relief Requested by CMA CGM

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The U.S. Federal Maritime Commission voted to grant the temporary relief sought by CMA CGM from certain service contract and tariff filing requirements following last month's cyber attack affecting the carrier's servers.Earlier this month, the French shipping company sought relief from Commission regulations as part of its efforts to respond to a malicious cyberattack it experienced in September.The Commission said Wednesday it granted the request for exemption from relevant service contract filing requirements and relevant tariff publishing requirements.

13 Oct 2020

CMA CGM Resumes Online Services After Cyber Attack

(Photo: CMA CGM)

CMA CGM, the world’s fourth-largest container shipping group, said it has restored its online business services after a cyber attack last month paralyzed activity.France-based CMA CGM first reported the incident on September 28, saying it had shut down access to its online services after malware targeted its peripheral servers.“The CMA CGM Group’s e-commerce sites are once again live with all their main functionalities up and running,” the company said in a statement on Sunday. “Applications and essential functionalities are now operational and secured.”In a separate incident, U.N.

25 Aug 2020

Smart Management is Needed as Wave of Digitalization Transforms Maritime

As the shipping industry undergoes major transformation, with operations becomingly increasingly automated, maritime companies need to consider more than just efficiency and safety when it comes to operations. The current global situation has resulted in a growing demand for crew communication, for both work and social purposes, alongside the ongoing need for optimization. All of this causes higher levels of traffic on maritime networks, forcing shipping operators to place an…

13 Jul 2020

Singapore Retains Its Place as World's Top Shipping Hub

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Singapore has maintained its position as the world's top shipping hub for the seventh year straight, according to a report published by the Baltic Exchange and Chinese state news agency Xinhua.The Xinhua-Baltic International Shipping Center Development (ISCD) Index, now in its seventh edition, assesses factors including port throughput and infrastructure; depth and breadth of professional maritime support services; as well as the general business environment in its attempt to…

18 Nov 2019

ABPmer Maps Shipping Cargo Value

Marine Management Organisation (MMO) has published results of a project undertaken by the UK-based marine consultancy  ABPmer, to develop a method to assign values to shipping cargo.The resulting mapping and information will improve the evidence base used in developing marine plan policies.Monty Smedley, maritime sector lead at ABPmer said “This was an exciting and novel project for us. The UK maritime sector plays a critical role in the growth and development of the country, enabling the import and export of goods and providing additional value through maritime and business services.We are very pleased to have developed a methodology providing the MMO with additional information to underpin the development of marine plan policy.”Robert Merrylees…

29 Sep 2019

Keppel Sells Logistics Units to Sinotrans

Keppel Telecommunications & Transportation (Keppel T&T) has entered into agreements to divest its entire stakes in Keppel Logistics (Foshan) Co (KLF) and Keppel Logistics (Hong Kong) to Sinoway Shipping, a subsidiary of Sinotrans Limited, for about S$39 million.Expected to be completed in 2019, the proposed divestments are in line with Keppel T&T's strategy to unlock value and recycle capital, allowing the company more flexibility to pursue other opportunities.Thomas Pang, CEO of Keppel T&T, said, "The divestments are part of Keppel T&T's efforts to sharpen its focus and reallocate capital to grow other parts of its businesses. We would like to thank Sinotrans…

22 Sep 2019

UK Ports Bullish on Maritime Economy

Maritime industry professionals remain confident about the year ahead despite wider uncertainty, according to new data published by the British Ports Association. Ports themselves are more likely to be worried about the economy over the next 12 months, however.Less than a third (29%) of ports feel confident about the economy in the next year, but 51% of the wider maritime industry feels confident. 83% of ports were planning investments into new business services, property or infrastructure in the next three months.Brexit: The survey reveals that half of ports do not feel that Brexit will affect them (either negatively or positively) in the next year, whilst a third feel it will impact them negatively. This can be attributed to the structure of the industry (i.e.

15 Jul 2019

Singapore Ranked World's Top Shipping Center

For the sixth year running, Singapore has clinched the top spot among the world's maritime centers in the Xinhua-Baltic International Shipping Centre Development Index.The island city-state in Southeast Asia beat 42 other cities such as Hong Kong, which ranked second, as well as London, which ranked third.Based on the evaluation scores, Singapore shows strength in ship management and shipbroking services, while Hong Kong is benefiting from China’s Belt and Road Initiative and economic opportunities in the Guangdong-Hong Kong-Macau Greater Bay Area.London’s first-class services in shipbroking, legal and shipping finance were highlighted.

08 Jul 2019

LR Joins with 6 Firms to Fuel LNG Growth

Lloyd's Register (LR), the technical and business services organization and a maritime classification society, said that it is is collaborating with COSCO Shipping LNG Investment, COSCO Shipping Heavy Industry, Jiangnan Shipyard, MARIC, SSSRI and CCS to develop 220k LNG carrier with Mark III containment system.LR has signed an agreement with COSCO Shipping LNG Investment (Shanghai) Co., COSCO Shipping Heavy Industry Co., Ltd, Jiangnan Shipyard (Group) Co., Ltd. (JN), Marine Design and Research Institute of China (MARIC), Shanghai Ship and Shipping Research Institute (SSSRI) and China Classification Society (CCS) to design and develop the first 220k LNG carrier with a GTT Mark III membrane containment system.The seven parties will use their expertise…

11 Jun 2019

Sovcomflot Selects Orange for Maritime VSAT

Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot has chosen Orange Business Services to deploy an advanced Maritime VSAT solution on eight vessels.According to a press release from the the business services arm of Orange S.A., this initial rollout will keep the ships connected even when operating on the high seas, improving safety and optimizing navigation in challenging conditions.In addition, this solution will make it easier for crews to stay in touch with friends and family, which is essential to keep staff morale high.The first ships to receive the solution during this initial rollout phase are the Arctic shuttle tankers Mikhail Ulyanov and Kirill Lavrov, which are the largest oil tankers built in Russia.

06 Jun 2019

SHI receives AiP from LR for LNG-fuelled VLCC

The maritime classification society Lloyd's Register (LR) has presented SHI with approval in principle (AiP) for an LNG-fuelled Very Large Crude Carrier (VLCC) equipped with a 6,000 cubic metre LNG fuel storage tank, a two-stroke dual-fuel diesel engine and an LNG fuel supply system.This AiP was a result of joint development project with SHI named VLCC2020, said a press release from the technical and business services organisation, wholly owned by the Lloyd’s Register Foundation.LR assessed the technical feasibility of the LNG fuel supply system and energy saving technologies, including SAVER Air, a SHI patented air lubrication system…

23 Dec 2018

Rotterdam Port Contributes USD 51.86 billion to Netherlands

USD 51.86 billion (EUR 45.6 billion) or 6.2% of the added value of the Netherlands is due to the Port of Rotterdam. This emerged in ‘The Rotterdam effect - Impact of Mainport Rotterdam on the Dutch economy’ study conducted by Erasmus University Rotterdam (EUR), commissioned by the Port Authority.Port of Rotterdam pointed out that it contributes twice as much to the gross domestic product than previously calculated. Traditionally, when determining the economic significance of the port, only direct employment and added value were measured, including the so-called backwards indirect effects. These backwards effects are the added value that is a consequence of port companies purchasing elsewhere in the Dutch economy.However…

24 Oct 2018

UK Shipping Tech to be Worth USD 16.5 bln by 2030

UK shipping technology sector will grow to become a GBP 12.8 billion (USD 16.5 bln ) market by 2030 from the current level of  GBP 3.7 billion, revealed a study.A new report commissioned by UK venture fund and think-tank PUBLIC estimated the growth will be fuelled largely by digitalisation of the industry, with technologies such as big data, blockchain, and artificial intelligence creating a new market for digitally enabled maritime services.For the purposes of this report,  shipping technology is defined as the technology that can be applied to make maritime trade processes more efficient and reduce bottlenecks in the flow of goods around the world. For the purposes of market-sizing, this means digital and IT spend (though not exclusively).

21 Oct 2018

Tilbury Port to Capitalise on Opportunities to Boost Trade

Tilbury Port and the people that work there will play a major role in helping the UK to increase international trade after we leave the European Union.International Trade Secretary Dr Liam Fox visited Tilbury Port  to meet with port workers and management, as well as members of the Tilbury on the Thames Trust.Tilbury is the fastest growing port in the UK and a £1 billion investment programme will see the port employing 9,000 people by 2020, 3 times more than it did in 2012. One in 5 of the employed people in the local area of Thurrock will work at the port.This investment will see the amount of trade passing through the port reach 32 million tonnes each year…

26 Jul 2018

Women in Shipping: 21st Century Workforce

In an industry facing significant skill shortages many organizations are ready to take a fresh approach to recruiting and retaining women in the shipping workplace. According to Lee Clarke, Regional Director – Northern Hemisphere at Dynama, the first place to start is establishing an accurate gender profile of your organization using workforce management technology.Of the estimated 1.25 million seafarers in the world, fewer than 2% of them are thought to be women. For example, in the UK the maritime minister Nusrat Ghani MP – who herself is only the second woman to hold the UK Department for Transport portfolio for the country’s maritime sector – has praised the establishment of the ‘Women in Maritime Taskforce’.Set up by Maritime UK…

02 Jul 2018

HII Appoints Brady as Chief Operating Officer for SN3

Sharon Brady is chief operating officer of SN3, part of HII’s Technical Solutions division. HII photo

Huntington Ingalls Industries (HII) (NYSE:HII) has appointed Sharon Brady chief operating officer of SN3, part of Huntington Ingalls Industries’ Technical Solutions division, effective June 4. In this new position, she plays a leading role in supporting SN3’s current portfolio and developing strategies for growth. Brady has been with SN3 since 2001, serving in various corporate and government contract positions. She most recently served as director of business services for the Savannah River National Laboratory (SRNL)…

16 Apr 2018

The Day of the Unmanned Ship is Dawning

DNV GL Virtual Bridge Cargo vessels without a superstructure could one day be controlled from a virtual bridge on land. (Photo courtesy of DNV GL / Rolls-Royce)

While debates rage in regards to safety, insurance and cyber security, the tech powering autonomous maritime operations continues to power ahead.Advances in sensor technology, data analytics and bandwidth-to-shore are fundamentally changing the way shipping works. And as operations are digitalized, they become more automated, Dr. Pierre C. Sames, Director of Group Technology & Research at class society DNV GL, has stated.Governments around the world are looking into unmanned shipping…

22 Feb 2018

First Women in Maritime Taskforce Meeting Held

UK Maritime Minister Nusrat Ghani MP joined the first meeting of maritime sector's new Women in Maritime Taskforce, demonstrating government support for the initiative. At the meeting she said: “This task force will be crucial in opening up the wealth of career opportunities in the maritime industry to women around the country. “The UK has one of the most competitive maritime sectors in the world and with only 3% of the workforce being women, it is vital more take advantage of the exciting opportunities the sector has to offer. Maritime UK – the umbrella body for the UK’s shipping, ports, business services, engineering and leisure marine industries – has established a Taskforce to address fairness, equality and inclusion within the maritime sector.

18 Jan 2018

Women in Maritime: New UK Taskforce Established

Nusrat Ghani (Photo: Maritime UK)

Setting out to increase fairness, equality and inclusion within the maritime sector, Maritime UK has established a Women in Maritime Taskforce, a move welcomed by the U.K.’s new Maritime Minister, Nusrat Ghani MP. “I am delighted to see Maritime UK taking action to attract more women into our maritime industries, and I welcome this taskforce as an important first step,” said Ghani, who is only the second woman to hold the Department for Transport portfolio for the U.K.’s £40 billion maritime sector.