Asia-N.Europe Box Rates Hit 6-Year Low
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 23 percent to $342 per 20-foot container (TEU) in the week ended on Friday, a source with access to Shanghai Containerized Freight Index data told Reuters. Freight rates on the world's busiest trade route are now at the lowest level since the index began in 2009 and have more than halved this month. Overcapacity of vessels and sluggish trade are behind the fall. Reporting by Sabina Zawadzki
Kalmar to Debut its latest at TOC Europe Exhibition
Kalmar, part of Cargotec, will introduce yet another port industry first during the upcoming TOC Europe exhibition in Rotterdam, the Netherlands. On 9 June, ONE is coming. Automation is widely accepted as the way towards improved productivity, safety and competitiveness in today's container terminals. However, it is often perceived as a difficult task that requires terminal operators to integrate multiple complex systems.
SENER holds a FORAN seminar in Wuhan, China
The ‘FORAN new modules, new functions and FEM-Link (Hypermesh) Seminar’ was held on April 23rd in Wuhan. SENER is playing a big role in China, where it has been promoting the FORAN System for many years.Through the seminar, important new enhancements in its shipbuilding CAD/CAM System FORAN, SENER (Shanghai) hopes to bolster confidence of existing customers and arouse more interest among the potential customers for FORAN system.
L.A., Long Beach Create Supply Chain Working Groups
Seeking new supply chain efficiencies, the ports of Los Angeles and Long Beach have announced the creation of working groups focusing on peak operations and terminal optimization to develop ways to strengthen the competitiveness of the San Pedro Bay port complex. Participants in the issue-specific working groups will be drawn from goods movement industry stakeholders, including shipping lines, cargo owners, labor, railroads, trucking interests, equipment owners and more.
Adm. Swift Takes Command of Pacific Fleet
Adm. Scott H. Swift returned to his home state and relieved Adm. Harry B. Harris Jr. as commander of the U.S. Pacific Fleet during a change of command ceremony on Joint Base Pearl Harbor-Hickam, May 27. "The magnitude of this moment is not lost on me, especially given my personal and professional history here in Hawaii and the Pacific," said Swift, who became the 35th commander since the Pacific Fleet moved to Hawaii in 1941.
ISS, Brightwell Introduce Onboard Cashless Payment System
Inchcape Shipping Services (ISS), the world-leading marine, cargo and supply chain solutions provider, has teamed up with Brightwell Payments, Inc. to introduce an innovative payment system for ship owners and managers to simplify cross-border crew payments, cut onboard cash and enhance crew and vessel safety. The new payments platform, Brightwell Navigator, will significantly reduce overall cash on board.
Lerwick Port Promoting Shetland Fishing Industry
The importance of investment in the Shetland fishing industry has been highlighted today by Lerwick Port Authority Chief Executive, Sandra Laurenson. The industry – white fish, pelagic, shellfish and aquaculture – is the biggest single contributor to the islands' economy, more than the four other main business categories combined. Commenting ahead of the annual Fishing Expo exhibition in Aberdeen, where the Authority will participate…
Germany Looking to Dock Submarine Deal with India
The German Defense Minister Ursula von der Leyen is visiting India lobbying for the purchase of German Stealth Submarines and European military hardware, say local media. Sources said that Ursula talked of Eurofighter and [HDW] submarines in her discussions with Indian Defence Minister Manohar Parrikar. India reportedly asked Germany what all it could offer if a direct deal was struck between the two countries on next-generation submarines.
Hoegh LNG's Bond Issue
Hoegh LNG (HLNG) has successfully completed the issuance of a USD 130 million senior unsecured bond in the Nordic bond market with maturity date expected to be 5 June 2020. The bond issue will be swapped from floating to fixed interest rate. The bond issue was oversubscribed. The net proceeds from the bond issue shall be used for general corporate purposes. An application will be made for the bonds to be listed on Oslo Børs.
Rieber offloads Polar Prince
GC Rieber Shipping has entered into an agreement to sell subsea vessel "Polar Prince", which the company had built in 1999. The transaction gives GC Rieber Shipping an accounting gain of approximately NOK 10 million ($1.3 million). The construction support vessel (CSV) is expected delivered to new owners in early June, states an announcement. The vessel was built at Flekkefjord Verft in Norway in 1999.
Indian Navy Monitoring Activities of China
Amid increasing Chinese presence in the Indian Ocean region, Navy Chief Admiral R.K. Dhowan said that Indian Navy “minutely” monitors the activities of its Chinese counterpart in the region, reports PTI. Underlining that India's maritime resources are directly linked to country's economy, Dhowan said the Chinese Peoples Liberation Army Navy (PLAN) ships have been deployed in anti-piracy operations in Indian Ocean since 2008 along with some submarines.
NordLB Back to Profit
Although the crisis is not over in all segments, Germany's second-largest marine lender, Nord LB, said its shipping loan portfolio turned a corner in the first quarter after several years of hefty losses, says a report in Reuters. The net profit of the company jumped up 70 percent in the first quarter as commission and lending income rose and as a one-off accounting gain boosted results. NordLB witnessed a turnaround in its shipping unit…
Navios to Expand Fleet with Two VLCCs
Monaco-based tanker owner and operator Navios Maritime Midstream Partners (NAP) plans to launch syndication of a USD 205 million Term Loan B to finance the purchase of up to two very large crude carriers. Apart from financing the purchase of up to two VLCCs from Navios Maritime Acquisition Corporation, NAP plans to use the remainder of the loan to refinance existing term indebtedness and to pay related fees and expenses.
Iran, Oman Sign Maritime Agreement
Iran's Mehr news agency said that Iranian Foreign Minister Javad Zarif and Omani Foreign Minister Yusuf bin Alawi have announced that the two countries have agreed to demarcate a previously undefined stretch of maritime border. Zarif discussed with his Omani counterpart on Tuesday how to advance peace efforts in Yemen, including implementing a ceasefire, setting up talks between warring factions and how to get aid in.
DMCC, DMCA to Promote Dubai’s Maritime Sector
DMCC has signed a Memorandum of Understanding (‘MoU’) with the Dubai Maritime City Authority to help promote Dubai to the maritime sector as a global destination for companies wanting to set up and expand into the GCC and MENA region. The MoU provides a collaborative framework for DMCC Free Zone and Dubai Maritime City Authority to work toward this goal, and will also jointly explore the development…
Lifting of US Crude Oil Export Ban Possible within Year
The U.S. Congress could lift the 40-year old ban on domestic crude oil exports within a year as a drop in gasoline prices and the potential return of Iranian oil…
Duke Energy to Help Develop Jeffersonville Port Site
Duke Energy Indiana has selected a 140-acre parcel of land inside the Port of Indiana-Jeffersonville in Clark County for the utility's 2015 Site Readiness Program.
UNOLS Seeks Nominations for Council Positions
The University-National Oceanographic Laboratory System (UNOLS) is an organization of academic oceanographic institutions working in cooperation with agencies of the U.S.
Savannah Harbor Expansion Project Update
Lt. Gen. Thomas Bostick, commander of the U.S. Army Corps of Engineers, visited the Port of Savannah on Thursday, for an update on the Savannah Harbor Expansion Project (SHEP). "The SHEP will create economic opportunity not only across Georgia, but throughout the Southeast," said Georgia Gov. Nathan Deal. The harbor deepening, currently in the construction phase, will deepen the shipping channel from 42 to 47 feet at mean low water.
Furuno Debuts Updated Echo Sounder
Furuno has introduced a new IMO Echo Sounder, FE800, offering an 8.4-inch Color LCD display with built-in dual-frequency capability. It also features a new system design that provides immediate retrofit capability of older Furuno units, as well as easy installation on new build vessels. The new color display accommodates both full and split-screen options. It offers a traditional single-frequency bottom presentation that you are used to seeing…