Peak Season to be Muted Says Drewry Shipper Survey
Carriers hoping for a respite from difficult market conditions with the traditionally buoyant peak season may be disappointed as a recent survey has revealed that…
South Asia Shining in Container Growth
Amid generally weak demand around the world the South Asia region is the shining light for container growth, says Drewry's Maritime Research. Growth in container shipping is becoming a rare commodity; global port throughput only increased by 1% in 2015 (the second lowest on record behind 2009) and the first quarter of 2016 was even worse with only a 0.5% rise. That the industry can point to any growth at all is largely down to strong volumes in the South Asia/Indian Subcontinent region…
Maersk May Swallow Hyundai Merchant
Business Korea reports that rumours are now rife in the container business world that Maersk could swoop on Hyundai Merchant Marine and subsume its activities into their own business. Even though it is still a prediction, if the prediction becomes a reality, it is highly likely that the sell-off of Hyundai Merchant Marine will receive strong backlash with a mounting criticism that the government sold a major national flag carrier for a giveaway price.
Greece Pin Great Hopes on COSCO-Piraeus Port
Greece’s deal with Chinese shipping giant COSCO is “helping the country stand on its feet,” Greek Prime Minister Alexis Tsipras said. “We are sending a strong message to the international markets that Greece is decisively entering a new phase,” Tsipras said. According to a report in Xinhua, China and Greece have great hopes for Piraeus port, as attested to by the meeting of Chinese Premier Li Keqiang and his Greek counterpart Alexis Tsipras on Monday.
IHC Takes Majority Stakes in Tompkins
Royal IHC and Tompkins UK Limited are strengthening their strategic cooperation with IHC’s acquisition of a majority stake in Tompkins, the parent company of Modus Seabed Intervention and a partner in the TI Geosciences joint venture (that IHC and Tompkins created in 2015). Modus is a specialist provider of remote and autonomous technologies for subsea and seabed intervention. It has industry-leading…
Alfa Laval Gets Ready for USCG Type-approval
Alfa Laval remains on track to submit a US Coast Guard (USCG) type approval application for Alfa Laval PureBallast 3.1 in the coming weeks. The company has successfully completed all required land-based tests using the current system design. Alfa Laval is maintaining its ambitious timetable for USCG type approval in ballast water treatment. As anticipated, the company completed the requisite tests of PureBallast in Q2, which were performed using the USCG-approved CMFDA/FDA (staining) method.
WSS Assists Avance Gas Vessels Transit Panama Canal
Wilhelmsen Ships Service (WSS) is moving to ensure that its customers’ vessels pass through the new Panama and Suez Canals with the optimum efficiency, speed and safety thanks to a fresh Ships Agency ‘canal transit’ solution. The service, which will be run by dedicated local teams, has already picked up its first contract, securing an agreement with leading very large gas carrier (VLGC) owner and operator Avance Gas for the Panama Canal transit of its neo-panamax ships Passat and Breeze.
Top Rolls-Royce Power Systems Suppliers Honored
Rolls-Royce Power Systems has honoured its five best suppliers for outstanding performance in quality, logistics, environmental protection and cooperation in 2015. For the tenth year in a row, Rolls-Royce Power Systems has commended the top suppliers of its subsidiaries MTU, L’Orange and MTU Onsite Energy, choosing from a total of 495 candidates from around the globe. CFO Marcus A. Wassenberg stated “Our suppliers make a valuable contribution to product quality…
USTC Delivers Near Record Profit
With profit before tax of DKK 480 million, Middelfart-based Selfinvest, which includes the global Group A/S United Shipping & Trading Company (USTC), is yet again filing an impressive set of financial statements. This was generated via record results in several of USTC’s subsidiaries, with the Group thus cementing its position of strength in the global market. CEO and sole owner Torben Østergaard-Nielsen…
Refrigeration Plant Optimisation cuts Operational Cost for LSM
London Ship Managers (LSM) has made substantial savings across its fleet of 9000gt refrigerated cargo vessels following an extensive refrigerant plant optimisation programme carried out by Oceanic Technical Solutions. An engineering team from the Asia division of the UK-based refrigeration specialist carried out complete marine refrigeration inspections aboard the Cala Portese, Cala Piana, Cala Pevero and Cala Piccola.
32 Wärtsilä Gensets for Chinese Vessels
Wärtsilä has been awarded the contract to supply newbuild Chinese container vessels with a total of 24 9-cylinder Wärtsilä 32 Auxpac generating sets. The engines will power six 21,000 TEU ships being built at the Shanghai Waigaoqiao Shipyard (SWS) for China Shipping Container Lines (CSCL). The order was placed in June with Wärtsilä's joint venture company CSSC Wärtsilä Engine (Shanghai) Co Ltd (CWEC).
Baltic Index Rises on Panamax Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday as higher demand boosted rates for panamax vessels.
Oriental Jubilee: World First with "SCRUBBER READY" Notation
DNV GL welcomed the Unique Shipping Group’s new vessel Oriental Jubilee into class when it was christened in Ulsan, Korea recently. The 84,000 cu. m. LPG carrier was built by Hyundai Heavy Industries (HHI) in Ulsan and is the first vessel to be awarded the DNV GL SCRUBBER READY notation. The SCRUBBER READY notation is an important development, as making space for new technologies and equipment onboard…
TTIP Free Trade Deal Between U.S. and EU at Dead End
A free trade deal being negotiated by the European Union and the United States is at a dead end and an agreement with Canada is also at risk, Italy's industry minister said on Tuesday.
Italians Seen Bidding for Greek Railways, Russians Uncertain
Italy's state railway is expected to bid for its Greek counterpart TRAINOSE, but Russian Railways (RZD) is less likely to do so, sources with direct knowledge of the matter told Reuters on Tuesday.
Drewry: Container Shipping Rates Have Bottomed Out, Forecast to Rise
Container freight rates are forecast to rise modestly over the next 18 months from the all-time lows reached recently, but this will not be sufficient to rescue the industry from substantial losses in 2016, according to the latest Container Forecaster report published by global shipping consultancy Drewry. Liner shipping has had a torrid time so far in 2016 with spot freight rate volatility reaching unprecedented levels, while unit industry income has fallen to record lows.
Rimorchiatori Augusta Orders Damen ASD Tug
Rimorchiatori Augusta and Damen Shipyards Group have recently signed a contract for an ASD 2810 tug for operations in the Sicilian port of Augusta. Rimorchiatori Augusta is a new venture for the Rimorchiatori Riuniti group and this will be the first new vessel for the company, demonstrating its commitment to future operations in the port. Rimorchiatori Augusta was formed following the purchase by Rimorchiatori Riuniti of Augustea Imprese Marittime and Salvataggi S.p.A.
Verkuyl New CEO at Feadship Royal Van Lent Yard
Jan-Bart Verkuyl has been appointed the new CEO of Feadship’s Royal Van Lent yard, where he will have overall responsibility for the day to day operations of the current operation in Kaag, its subsidiaries and the second new yard in Amsterdam when it opens in 2018. Dick van Lent has stepped down from official duties after over forty years of service, although he will continue to offer his invaluable experience to the Feadship cause.
Oil Sheds 5% on Brexit Worry, Supply Builds
NEW YORK, July 5 (Reuters) - Oil prices tumbled nearly 5 percent on Tuesday as investors worried that Britain's exit from the European Union would slow the global economy…
Italy Rescues 4,500 Migrants in Mediterranean in one day
ROME, July 5 (Reuters) - Some 4,500 migrants were rescued from rubber dinghies and a wooden boat in the Mediterranean on Tuesday, Italy's coast guard said, as the sea calmed after a rough weekend. More than 67,000 migrants have arrived in Italy by sea so far this year, the International Organisation for Migration (IOM) said before the coast guard reported the latest rescues. Arrivals are down from the same period of 2015, but the number of deaths on the perilous route has jumped.