Liner Shipping: Is There a Way for More Competition?
With around 80 per cent of global trade by volume and over 70 per cent of global trade by value carried by sea, and with these shares being even higher in the case of most developing countries, maritime transport, including liner shipping, remains highly important for international trade and the global economy. UNCTAD Discussion Paper says that to ensure stability in the sector, in various jurisdictions around the world…
Silver Lining for Prospects in Tanker Demolition
The Gibson tanker report reflects on the subject of tanker demolition which is always topical, particularly now after several years of robust investment in new tonnage. With exception of Handy/MRs, the orderbook in percentage terms relative to the existing fleet is quite substantial, starting from 17% for LR1/Panamaxes up to 24% for Suezmaxes at the top. The pace of deliveries will accelerate this year, and even more additions to the market are expected in 2017, to highs not seen since 2009/11.
APM Terminals Readies Lázaro Cárdenas TEC2
APM Terminals (APMT) is continuing with its new deep-water semi-automated Lázaro Cárdenas Terminal 2 (TEC2) project, which represents an overall investment of US$900 million, despite the slow Latin American economic growth, and sluggish global container shipping growth rate. Once complete, TEC2 will have an annual throughput capacity of 1.2 million TEUs. Overall throughput at the Port of Lázaro Cárdenas increased 6 percent in 2015 to 1.05 million TEUs…
Singapore Reaffirms Anti-Piracy Role
The Maritime and Port Authority of Singapore (MPA) Thursday reaffirmed its support for Regional Cooperation Agreement on Combating Piracy and Armed Robbery (ReCAAP), highlighting the "instrumental role" the organisation has played in addressing piracy and armed robbery against ships in Asia. The MPA, host to the ReCAAP Information Sharing Centre (ISC), notes that ReCAAP's membership has risen from 14 contracting parties in 2006 to 20 this year…
Skangas Aquires Risavika LNG
Skangas, a unit of Gasum, signed a deal with Lyse Group to acquire the Risavika liquefied natural gas (LNG)production facility in Norway. The acquisition of the Risavika production plant will strengthen Skangas’s presence in the downstream of the LNG value chain and secure Skangas’s commercial position in the Norwegian market and North Sea. The Risavika production plant has an annual production capacity of 300,000 tonnes of liquefied natural gas (LNG), and the volume of its tank is 30,000 cbm.
Indian Maritime Development Can Create 10 Million Jobs
Indian minister for shipping Nitin Gadkari has said port and shipping sector has potential to create nearly 4 million direct jobs and 6 million indirect employment opportunities over the next 5 years. Recalling Prime Minister Mr. Narendra Modi’s thrust on port led development, Mr Gadkari said his Ministry has drawn up projects with investment potential of Rs 1,20,000 crores, (US $ 18 billion) which will be showcased at the India Maritime Summit to be held in Mumbai from April 14 -16.
Gothenburg Port's Second Oil Storage Cavern Commissioned
A new underground cavern is being brought into operation at the Port of Gothenburg. The cavern is 600,000 cubic metres in size and will be used for interim storage of crude oil. The operator will be the independent storage company Scandinavian Tank Storage. Located immediately beside the Port of Gothenburg is an underground storage facility. Gothenburg Port Authority has two caverns at its disposal, each 600,000-800,000 cubic metres in size. One of them was opened for crude oil storage in 2009.
BSEE, NASA to Examine Offshore Risks
The Bureau of Safety and Environmental Enforcement (BSEE) and The National Aeronautics and Space Administration (NASA) have announced a five-year agreement allowing BSEE to capitalize on the best risk management approaches from the aeronautics industry to inform stakeholders and further strengthen worker and environmental safety protections on the Outer Continental Shelf. “Both BSEE and NASA work in harsh and uncompromising environments…
MarineMax Expands into Yacht Management, Placement, Chartering
At a special press event held at the Palm Beach International Boat Show, MarineMax announced today that they are expanding into yacht management, crew placement and charter of luxury megayachts. Bob Saxon Associates, has joined MarineMax as part of the new endeavor that will be headquartered at the MarineMax Yacht Center in Pompano Beach, Florida. “We are excited to announce this strategic initiative,” offered Bill McGill, MarineMax President and CEO.
Newest Washington State Ferry: M/V Suquamish
On Wednesday, the Washington State Transportation Commission announced that the fourth ferry in our Olympic Class will be named Suquamish. Ferry names were suggested through a public process, and narrowed down to three for the Commission’s consideration. Suggestions are judged based on their statewide significance and representation of Washington’s image and culture. The name Suquamish was selected over Cowlitz or Sammamish.
Ocean Equipment debuts NavPods Gen3
Ocean Equipment, manufacturer of high-quality waterproof housings for marine electronics, announced today the completion of its newly redesigned and retooled NavPods for the 2016 model year. The NavPods represent the culmination of a period of substantial investment by Ocean Equipment and development of a new manufacturing facility equipped with the latest CAD/CAM design software, CNC routers, a full complement of thermoforming manufacturing equipment and a talented engineering team…