APM Terminals Pipavav Receives First Domestic Ro/Ro Service Call
APM Terminals Pipavav welcomed the IDM Symex, which arrived with a cargo of 800 Hyundai cars loaded at the Port of Chennai on February 5th, in a pioneering use of economical and environmentally-friendly coastal transportation of Indian-manufactured automobiles. APM Terminals Pipavav, part of the APM Terminals Global Terminal Network, commenced export Roll-on/Roll-off (Ro/Ro) services in August 2015, after NYK Auto Logistics India (NALI) invested in a state of the art stock yard and PDI [pre delivery inspection] facilities. The new cars destined for Western India dealerships originated at Hyundai Motor India Limited’s (HMIL) automotive manufacturing facility near Chennai, in Tamil Nadu State.
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.
WW and OW Acquire HMM’s Car Carrier Division
Representatives from Wilh. Wilhelmsen ASA (WW) and Wallenius Lines AB (OW) on August 10, 2002 signed the agreement with Korea’s Hyundai Merchant Marine Co., Ltd. (HMM) on the acquisition of HMM’s car carrier division. The terms of the agreement include long-term exclusive contracts with Hyundai Motor Company (HMC) and Kia Motor Corporation (KMC) on shipping their car exports for an initial five-year period, with provision for extensions. The newly-established company, which will acquire HMM’s car carrier division, will be incorporated in Korea, with WW and OW together holding 80 percent and with HMC and KMC together holding 20 percent. The price for the acquisition will be $1.3 billion plus the assumption of future vessel charter obligations.
