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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.    


Jinhui Shipping Sees Bumpy Road to Recovery

Oslo-listed dry bulker Jinhui Shipping sees a bumpy road ahead despite signs of a recovery in the dry bulk market.   The road to recovery will be challenging and the market will remain volatile, vice president Raymond Ching told the Q1 conference call on Monday.  


India to Allocate 2.5 pct of Road Fund for National Waterways

Indian Prime Minister Narendra Modi. Photo: PIB

 The Indian government has approved a proposal to allocate 2.5 per cent of the Central Road Fund (CRF) for National Waterways (NWs) that would result in about Rs 2,000 crore (USD 309 mln) proceeds per annum for their development.  


U.S. Freight Recovery Spurs Diesel Demand

File Image: CREDIT AEP

U.S. freight movements have started increasing again, which should help boost consumption of distillate fuel oil in 2017 and 2018.   The tonnage of freight moved by road, rail, barge, pipeline and air cargo has been increasing year on year since October


New Simulator Operators Training Course

Photo: eMaritime group

eMaritime group have written a new five-day Simulator Operators Training Course (SOTC) and will launch it with a free one-off session from June 19-23, 2017 at eMaritime Group HQ, Whiteley, Hampshire.   The SOTC course has been written to give those who wish to teach on a maritime simulator


New Tug, Barge Enter Service for Vane Brothers

Photo: Vane Brothers Company

Marine transportation provider Vane Brothers has added two newly constructed vessels to the company’s growing fleet: the 4,200-horsepower tugboat Philadelphia and the purpose-built asphalt barge Double Skin 510A.   Primarily tasked with towing petroleum barges engaged in the North


Cutter Suction Dredger Delivered to Heuvelman Ibis

Damen Cutter Suction Dredger 350 (Photo: CSD)

A Damen Cutter Suction Dredger (CSD) 350 has been delivered from Damen Dredging Equipment in Nijkerk, the Netherlands, to start work on a canal dredging assignment in the province of Groningen, in the north of the country. In order to execute the project


New Commanding Officer at USCG Sector North Carolina

Coast Guard Capt. Jerry Barnes assumed command of Coast Guard Sector North Carolina in Wilmington, N.C., Tuesday.   Barnes reported to Sector North Carolina after serving as the 5th Coast Guard District's chief of prevention.  


New Containership Design is Self-steering and Emissions Free

YARA Birkeland container feeder ship design (Image: Kongsberg)

Norwegian fertilizer producer Yara and maritime technology firm Kongsberg Gruppe are teaming up to build what they said would be the world's first fully electric and self-steering containership.   "The new zero-emission vessel will be a game-changer for global maritime transport


Crowley to Supply LNG in Puerto Rico

Photo: Crowley

Crowley Maritime Corp.’s  liquefied natural gas  (LNG) services group has been awarded a multi-year contract to supply additional volumes of containerized, U.S.-sourced LNG to a major pharmaceutical company’s manufacturing plants in Puerto Rico.  


Sri Lanka Denies Chinese Request for Sub Visit

Sri Lanka has rejected China's request to dock one of its submarines in Colombo this month, two senior government officials said on Thursday as the Indian prime minister landed in the island nation.   Sri Lanka last allowed a Chinese submarine to dock in the capital of Colombo in October


Riverboat American Duchess to Launch in August

Artist rendering of American Duchess, the company’s latest riverboat (Image: American Queen Steamboat Company)

 The American Queen Steamboat Company, owner and operator of the American Queen and American Empress, will launch service on its new American Duchess when it sets sail from New Orleans on Aug. 14, 2017, following its christening a day earlier.  


ICC Calls for Global Guidance on Return-Refill Container Systems

Image: CMA CGM

 Shipping goods across borders with reusable containers and tracking systems is better for the environment, consumers and companies yet differential treatment by customs authorities can be detrimental for business.   The volume of goods shipped globally has reached impressive


China, Vietnam Dampen S.China Sea Tensions

China and Vietnam will manage and properly control their maritime disputes, avoiding actions to complicate or widen them, so as to maintain peace in the South China Sea, the two nations said in a joint communique China released on Monday.  


India to Facilitate Marine Skill Developement in Coastal Areas

Indias Minister for Shipping, Nitin Gadkari and the Minister for Rural Development, Panchayati Raj, Drinking Water and Sanitation, Narendra Singh Tomar witnessing the signing ceremony of an MoU for Sagarmala - DDU GKY (Deen Dayal Upadhyaya Grameen Kaushalya Yojana) skill development training for coastal districts. Photo: PIB

 For skills development of youth in coastal areas, India's Ministry of Shipping signed a memorandum of understanding (MoU) with theMinistry of Rural Development in New Delhi.    The MoU is for convergence of the Ministry’ prestigious project Sagaramala and Ministry of Rural


First Bunker Supply by Barge at Paradip

Manan Goel (Photo: Gulf Petrochem)

Gulf Petrochem Group, the UAE based global bunker supplier, has set another milestone in its operations with the first-ever bunker supply by barge at the non-conventional port of Paradip in Odisa, India’s east coast in a joint effort with Indian Oil Corporation Limited (IOCL).   






 
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