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ON THE ROAD

SSE Rolls Out Two Shipping Indices

Image: Shanghai Shipping Exchange

 Shanghai Shipping Exchange launched on Wednesday the "Belt and Road" shipping indices, tracking trade data and shipping freight rates under the initiatives of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, reported China Securities Journal.   The indices, with January 2015 used as the base period, will be released on the last Monday of every month.   The Belt and Road Freight Trade Index (SRFTI), is designed to track the volume and value of international trade between China and 66 countries along the Belt and Road, which are in Asia, North Africa, Europe, and Oceania, a statement of SSE said.   The Maritime Silk Road Freight Index (MSRFI), tracks the shipping freight rates of imported and exported containerised cargoes, imported dry bulk cargoes, and imported crude oil.  


China’s One Belt, One Road: Will it Reshape Global Trade?

Kevin Sneader and Joe Ngai discuss. Photo: McKinsey Insights

 The future of trade in Asia could depend heavily on what becomes of China’s expansive One Belt, One Road initiative, which calls for massive investment in and development of trade routes in the region.    In this episode of the McKinsey Podcast, recorded in May, McKinsey senior partners Joe Ngai and Kevin Sneader talk with Cecilia Ma Zecha about One Belt, One Road—what it really means, what it needs to become a reality, and why people should take it seriously.


USCG and USN Open Harbor Operation Center in Hampton Roads

The Coast Guard the U.S. Navy opened the Hampton Roads Sector Command – Joint Harbor Operations Center (SCC-JHOC) on March 24. The SCC-JHOC combines detection capability and command and control functions of Coast Guard and Navy entities within the Port of Hampton Roads. The mission of the Coast Guard and Navy personnel is to detect, monitor, and track vessel movements, critical port infrastructure, and militarily essential waterways in the port area


China's $40b Maritime Silk Road Shaping Up

Artists perform during a Chinese Dance Drama entitled The Dream of the Maritime Silk Road, at the United Nations headquarters in New York on Feb. 4, 2015 (Image: United Nations, Youtube)

China's $40 billion fund to finance its most ambitious global plan - the Silk Roads and Maritime Silk Road is moving forward steadily as its management team has taken shape.  China has appointed top officials to manage the fund. A team headed by Wang Yanzhi, an official with China's foreign exchange regulator, has been formed to formally operate the fund.   People's Bank of China (PBOC) assistant governor Jin Qi will be the fund's chief executive and Zhu Surong


China to Link Maritime Silk Road with India's 'Mausam'

Map: PIB

 China has expressed its readiness to work with India to link its ambitious Maritime Silk Road plans with India's 'Mausam' project in a bid to address New Delhi's strategic concerns and derive "common benefits", reports PTI.   Ever since the "One Belt and One Road" initiative to revive the ancient Silk Road and Maritime Silk Roads (MSR) was mapped out by Chinese President Xi Jinping, India has been showing vacillation and hesitations over whether to join the


Indian Shipping Seeks Road Fund for Development of Waterways

Nitin Gadkari. Photo: Press Information Bureau, Govt of India

 The Shipping Ministry of India has mooted a proposal to utilize part of the fuel cess collected for building national highways for expansion of National Waterways as well.    The Union Minister for Shipping, Road Transport & Highways, Nitin Gadkari said his Ministry has sent a proposal seeking allocation of 5% of the Central Road Fund for development of Inland Waterways.    “My Ministry has prepared the proposal


New Ferry Gets Volvo Penta Engines

The car ferry Venus, which recently entered traffic, is the Swedish Road Administration’s most modern ferry and the first in a series with a distinct environmental profile. The propulsion engines onboard are modern Volvo Penta low-emission engines equipped with catalytic converters and particle filters. The high efficiency of the engines results in low fuel consumption and good performance. The Road Administration’s ferry unit, with slightly more than 60 ships


Rail-Barge Service from Eastern Shore to Resume

Governor Bob McDonnell announced today that the Bay Coast Railroad Car Barge will resume service next week as a result of a partnership between the Commonwealth, area localities, and the Bay Coast Railroad.  The barge, which was removed from service last year, provides connecting service between the Virginia’s Eastern Shore and Norfolk/Virginia Beach. Last year, the Bay Coast Railroad suspended service on the barge when it identified $1 million in structural deficiencies critical to


Port of New Orleans: Varied Third 2013 Meeting Agenda

The port informs that its meeting no. 3 of fiscal year 2013-2014 is to be held on Thursday, September 26, 2013, 11:00 a.m. in the main auditorium at 1350 Port of New Orleans Place, New Orleans, Louisiana. The order of the meeting is as follows: I. Determination of Quorum and Call to Order II. Pledge of Allegiance III. Approval of Minutes for August, 2013, Meetings IV. Acceptance of Financial Statement for August, 2013 V. Public Comment VI. Actions Required


Jawaharlal Nehru Port Goes for External Commercial Borrowing

Photo: APM Terminals Mumbai

 India’s premier container port, Jawaharlal Nehru Port in Navi Mumbai, has signed an agreement with State Bank of India and Development Bank of Singapore for External Commercial Borrowing (ECBB) to the tune of USD 400 Million at a “very competitive” interest rate to improve the infrastructure required for “doubling” its existing capacity to 9.85 Million TEUs annually.    


China Hands Over Third Patrol Ship to Pakistan

Pic: Mercantile Marine Department,  Ministry of Ports and Shipping

 China has handed a 600-ton patrol ship over to Pakistan’s maritime safety authority in Guangzhou, Guangdong province, PTI reported.   The new ship, just the third of its kind, was built by China Shipbuilding Trading Company Ltd


Hydrex to Expand Antwerp Facility

Antwerp Port Authority has supported Hydrex Underwater Technologies’ plan to expand  (Photo: Hydrex)

Antwerp Port Authority has supported Hydrex Underwater Technologies’ plan to expand its existing 5000m² site on Asiadok on the River Scheldt with new workshops and offices.  As part of its expansion, the result of organic growth over the past two years


DynaCERT Secures CE Certification for Hydragen Technology

Photo:  dynaCERT Inc.

 dynaCERT Inc.  has received CE certification for its HydraGEN technology.    Specifically, the models HG1 (Class 6-8 trucks), HG2 (Class 2-5 trucks, refrigerated trailers and shipping containers) and HG3 (diesel-powered ocean ships


World Bank USD375 mln Loan for India's Waterway Project

Pic: Inland Waterways Authority of India (IWAI)

 In a major boost towards realising India's ambitious inland waterways project, the World Bank has approved a $375 million loan for capacity augmentation of National Waterway-1(River Ganga) under Jal Marg Vikas Project (JMVP).  


Russia Ramping Up Arctic LNG Production

Photo: Total

Russia may produce more than 70 million tonnes of liquefied natural gas (LNG) per year in its remote Arctic regions, the head of gas producer Novatek said on Wednesday.   "The Gydan and Yamal peninsulas have a vast resource base that allows the production of over 70 million tonnes (of


Indian Navy 'Coast to Coast' Rally

Photo: Indian Navy

 The final leg of "Coast to Coast" rally organized by Indian Navy as part of Social Outreach Programme was flagged off from Visakhapatnam on 28 March 2017 by Vice Admiral Atul Kumar Jain AVSM, VSM, Chief of Staff Eastern Naval Command.   


Indian Waterways Development in Big Way

Indian Prime Minister Narendra Modi. Photo: Press Information Bureau, Govt of India

The ongoing project on national waterways ‘Jal Marg Vikas’ is a Rs 5,400-crore World Bank funded project on the Ganga, being developed between Allahabad and Haldia to cover a distance of 1620 km.   The Jal Marg Vikas Project (JMVP) for capacity augmentation of National


India Boosts Shipping Industry

Indian Shipping Minister Nitin Gadkari. Photo: Official Site of Nitin Gadkari

 The Expansion, modernization and upgradation of shipping infrastructure in India is an on-going process to keep the ports abreast with new technologies and also to promote trade and cargo.   The Government is committed to provide best possible infrastructure facilities to Indian


World’s First Shipboard Go-kart Track

(Photo: Bolidt)

The world’s first full-scale shipboard racetrack is now on the water, in a project which has brought the best out of German karting technology specialist RiMO Supply and Dutch decking specialist Bolidt for owner Norwegian Cruise Line.  


OCEAN Alliance Launch Announced

File Image (CREDIT: Marad)

CMA CGM, a leading worldwide shipping group, launches Saturday April 1st the 40 new maritime services of its new operational alliance OCEAN Alliance.    Combining this new offer of maritime services with a global intermodal and logistics offer


Daewoo to Deliver Two More LNG Tankers in 2017

South Korea's Daewoo Shipbuilding expects to deliver two more ice-class tankers to lift liquefied natural gas (LNG) from Russia's Yamal LNG project this year, a company spokesman said on Monday. Daewoo Shipbuilding & Marine Engineering (DSME)


Multi-million Dollar Deal for Somaliland's Historic Port Sparks Land Rush

The land along the road into Berbera is barren and empty. Somaliland's small, rusty Gulf of Aden port which for centuries made the town prosperous rises suddenly out of the ground as the road hits the coast. The crumbling town has languished for decades


India to Establish Multimodal Terminal in Jharkhand

Indian Prime Minister, Narendra Modi. Photo: PIB

 Prime Minister Shri Narendra Modi has laid the foundation stone of the multi-modal terminal at Sahibganj, Jharkhand.    The terminal at Sahibganj is an important component of the Jal Marg Vikas Project (JMVP) for the augmentation of the navigation capacity of National Waterway-1


Bomin Affirms Commitment to Baltic Bunkering Market

The Bomin Group, a global physical supplier and trader of marine fuel oil, today reaffirmed its commitment to providing physical bunkering products and services in the Baltic, including Rostock, Germany’s largest Baltic port. In line with the company’s new regional hub structure


Somali Forces Clash With Pirates, Free Indian Ship Crew

Somali security forces clashed with pirates early on Wednesday and freed nine seamen kidnapped on an Indian cargo ship this month, officials said. The pirates seized the dhow Al Kausar off Somalia's coast, part of a surge of attacks after years without a reported incident.






 
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