Picking Up Panamaxes Like Pokemon
Alibra Shipping Research Weekly Market Report takes a look on current market scene of bulk carriers. For a little while now, the story has been “Now’s a great time to buy bulk carriers, asset prices are low…” We’re cautious of following the herd mentality so we wondered: is that still the case or has the moment passed? On Monday, the Baltic Exchange assessed the price of a five-year-old, 74,000-dwt Panamax at $13.6m.
China Refineries Enters Global Oil Trade
During the last year, China’s “teapot” refiners are helping to boost China’s crude import demand and their influence is expanding, says Clarkson Research Services. Chinese crude oil imports have historically been dominated by a handful of state-owned companies. However, since mid-2015 Beijing has started to liberalise China’s oil market, and is gradually allowing more independent refiners to process imported crude, and import crude oil directly.
Mozambique Workshop Supports Seafarer Training and Assessment
An International Maritime Organization (IMO)-led workshop in Maputo, Mozambique is supporting countries in south-eastern Africa in implementing the STCW (Standards of Training, Certification and Watchkeeping ) Convention, which establishes international standards for training, certification and watchkeeping for seafarers. The workshop (25-29 July) is familiarizing maritime administrations and maritime training institutes with all recent amendments to the STCW Convention and Code…
Protecting Sensitive Sea Areas in South-East Asia
Further progress towards identifying and designating Particularly Sensitive Sea Areas (PSSAs) in south-east Asia has been made during a regional meeting in Lombok, Indonesia (27-28 July). Some 30 participants from Indonesia, Malaysia, Philippines, Viet Nam and observers from Singapore met to identify any gaps in knowledge in potential areas to be selected and proposed to be designated as a PSSA by International Maritime Organization (IMO).
Singapore, Malaysia Conduct Joint Chemical Spill Drill
The Maritime and Port Authority of Singapore (MPA) and the Marine Department of Malaysia (MDM) conducted a joint chemical spill exercise at sea along the East Johor Straits to test the Joint Emergency Response Plan (ERP) for chemical spill incidents and the communication linkages between the Operation Liaison Officers (OLOs) and the Environment Liaison Officers (ELOs) in both countries. Jointly developed by the Maritime and Port Authority of Singapore (MPA)…
Moody's: Challenges Ahead for Asian Port Operators
Moody's Investors Service says lackluster global growth, weak commodity prices, high capital expenditure commitments and a liner industry struggling with overcapacity is testing the resilience of Asian port operators. "While the rated port operators in Asia have scope for cost cuts and are generally supported by their dominant market position, their resilience is being tested by these challenging operating conditions," says Ray Tay, a Moody's Vice President and Senior Analyst.
DP World takes over Rodney Container Terminal, Canada
DP World has signed a long-term lease agreement for the expansion and operation of the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada. The global trade enabler will start running existing operations on 1 January 2017 and work in partnership with the Saint John Port Authority on a planned expansion programme expected to be completed in 2021, with the lease continuing for 30 years after.
U.S. Awards $61.8 Mln for Port Projects
U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants.