'Make in India’ - the Newbuzzword in Indian Shipping Sector
The government is aggressively promoting the adoption of ‘Make in India’ campaign including the shipping and port sectors. The Ministry is aiming to raise cargo and passenger movement through waterways from the current five per cent to 30 per cent in the next 15 years. This means that there will be demand for more coastal ships, barges and passenger vessels, which would offer more opportunities to local shipyards.
Seaspan Takes Delivery of New Containership
Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's second 14000 TEU SAVER design containership and third delivery in 2015. The YM Wellhead will commence a ten-year, fixed-rate time charter with Yang Ming Marine Transport Corp. (Yang Ming). Yang Ming may extend the charter for up to an additional two years.
Suezmax Tankers Bullish
Global fixture activity for suezmax crude tankers rose in the first quarter by 5% year on year, with most of the activity coming out of West Africa. Suezmax fixtures out of the Caribbean rose by 48%, most of which headed to the US Gulf and East coast Panama. During the first quarter 2015, there was a 45% rise in suezmax fixtures from the Middle East Gulf (MEG) to West Coast India, compared to the same period last year…
Shipping is Cutting CO2 Emissions
London-based shipping advisors Drewry Supply Chain Associates said that shipping liner operators have made significant inroads into cutting CO2 emissions. Containership CO2 emissions on Asia-North Europe round-voyages have dropped by 35 percent over a five-year period to 2013. Drewry attributes the decline to a corresponding drop in fuel consumption and attributes this to three factors: slow-steaming…
Chinese Submarine to Pakistan: Raising Nuclear Tensions in South Asia
Pakistan, a country plagued by economic and political insecurity, to conclude the deal of eight conventional submarines during Chinese President Xi Jinping's visit to Islamabad on Monday (April 20), reports Bloomberg. This will help Pakistan gain the ability to fire nuclear weapons at sea, keeping pace with rival India, says analysts. Given the political instability and the activities of numerous terrorist groups operating in Pakistan, this poses great threat for whole world too.
Liner Service Reliability Jumps to 64%
According to Drewry Supply Chain Advisors, liner shipping service reliability on the three East-West trades showed an aggregate on-time performance of 64% in March - a five-month high. According to Carrier Performance Insight, the online schedule reliability tool provided by Drewry, this was 8.5% up on the February figure - and the second best aggregate since the new data series begun last May. The…
China Snubs G7 Declaration on Sea Row
China has urged relevant countries to do more that are conducive to regional peace and stability. Foreign Ministry spokesman Hong Lei made the remarks when asked to comment on a statement made by foreign ministers of the Group of Seven (G7) on maritime disputes. "We hope relevant countries can respect the efforts made by countries in the region to maintain the region's peace and stability, and do more that is helpful to regional peace and stability," said Hong Lei.
Naming Ceremony of Evergreen's EVER LYRIC
Evergreen Group today held the naming ceremony for EVER LYRIC, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place at CSBC's Kaohsiung shipyard and was officiated by Mr. Raymond Lin, Evergreen Group's Vice Group Chairman. The official rope-cutting of the new 8,508 TEU vessel was performed by Mrs. Jarijanti Buana, the wife of the Chairman of Evergreen Shipping Agency Indonesia.
NCSP Group Cargo Traffic Up 6% in Q1 2015
Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) reports that Group’s consolidated cargo turnover in Q1 2015 increased by 2 million tonnes or 6.0% year-on-year reaching 35.6 million tonnes. Liquid cargo is up 1410 thousand tonnes or 5.2% year-on-year reaching 28 353.6 thousand tonnes. Bulk cargo grew by 180.5 thousand tonnes or 7.5% year-on-year totaling 2 583.1 thousand tonnes.
New CEO for Evergas
Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk. He brings a wealth of leadership experience in both commercial and technical management, having amongst other positions headed Maersk Tankers fleet management for 9 years. Before that he held both operational and commercial leadership positions in Maersk Tankers, Maersk Contractors and Maersk Drilling. The Chairman of Jaccar Holdings Mr.