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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.    


Greece, Bulgaria to Create Multimodal Corridor Between Ports

Photo: Ministry of Transport, Information Technology and Communications of Republic of Bulgaria

 Bulgaria and Greece agreed to expand Multimodal Freight Corridor Between Black Sea, Aegen Sea and Dunabe.   Bulgarian Minister of Transport, Information Technology and Communications Ivaylo Moskovski and Greek Minister for Infrastructure


India Organizes Workshop on Coastal Shipping and Inland Navigation

Photo: Kerala Shipping and Inland Navigation Corporation (KSINC)

 The Ministry of Shipping in India is organizing a workshop titled ‘Promoting Coastal Shipping and Inland Navigation in India’ in Bhubaneswar, Odisha state today.    This is the second in a series of workshops the Ministry plans to hold over the next 6-8 months to


China Acquires Global Ports: FT

File photo: China COSCO Shipping

 With the aim to dominate maritime industry China has been acquiring overseas ports with huge investments which crossed USD 20 bln last year, Financial Times reported.   Beijing has spent billions expanding its ports network to secure sea lanes and establish itself as a maritime power


Hampton Roads Transit Christens New Ferry

(Photo: BMT)

Virginia’s Hampton Roads Transit (HRT) has christened its newest passenger ferry, the first of three to be delivered to the agency as part of a $7 million program to replace the fleet’s aging vessels, the newest of which was delivered in 1990 and the oldest of which has been in service


Piraeus Port Signs MoU with Shanghai Port

Photo: Piraeus Port Authority S.A

 The Cosco-managed Piraeus Port Authority (OLP) and Shanghai International Port Group, the world's biggest commercial port, signed a Memorandum of Understanding (MOU) envisioning cooperation in infrastructure studies, personnel training, information exchange and technical assistance.  


Cargo Shipping Market to Grow at 3.45% to 2023

Photo: Maersk Group

 Global Cargo Shipping Market is expected to grow around 3.45% CAGR during the period 2017 to 2023, says a report by Market Research Future.   In recent years, Global Cargo Shipping Market has advanced rather productively. While, increasing number of countries forging of free trade


Denmark, China Discuss Maritime Cooperation

Photo: Danish Maritime Authority

The Danish Maritime Authority (DMA) and the Chinese Bureau of Water Transport met June 14 to discuss the two countries' cooperation in the maritime field as well as the general challenges faced by maritime transport.   “Chinese and Danish ship owners are among the world's largest


Indian Shipping Bucks Trends with Positive Growth

The Minister of State for Road Transport and Highways and Shipping,  P. Radhakrishnan addressing a meeting, organised by V.O. Chidambaranar Port Trust. Photo: PIB

 The Indian shipping industry is registering a positive growth amid a downward trend globally, Union Minister of State for Shipping, Pon Radhakrishnan said.   “While the shipping sector is seeing a downward trend worldwide, India is registering a positive growth


Schwarze-Robitec Expands in USA

Photo: Schwarze-Robitec

The tube bending machine manufacturer Schwarze-Robitec is expanding its branch office in the USA. The North American service and distribution team moves to Grand Rapids. Mich. In addition to its new premises, Schwarze-Robitec operates a spare parts warehouse for its high-quality bending machines


Cindy's Remnants Drench Gulf Coast, Wreaking Havok

The remnants of Tropical Storm Cindy brought tornadoes and flooding to the U.S. Gulf Coast on Thursday and its heavy rains will drench much of the eastern United States in coming days, forecasters said.   Flooding and road closures stretched from east Texas into northwestern Florida after


MOL-MES Joint Development Next-generation Vessel Monitoring System

Image: Mitsui O.S.K. Lines

 Mitsui O.S.K. Lines (MOL) announced an agreement with Mitsui Engineering & Shipbuilding (MES) to jointly develop next-generation vessel monitoring and support systems for practical applications and commercialization.   Based on the real time data


HMS Queen Elizabeth Sets Sail on Maiden Voyage

HMS Queen Elizabeth (Photo: UK Royal Navy)

Britain's most advanced and biggest warship, 65,000-tonne aircraft carrier HMS Queen Elizabeth, set out on its maiden voyage on Monday from the Rosyth dockyard in eastern Scotland.   The ship, which measures 280 metres and can move 500 miles a day


LNG Marine Fuel Institute Launched in Canberra

ToPH CEO David Pentz and Mayor Camilo Blanco with Richard Sandover from Jackson McDonald and Mike Utsler, Chief Operating Officer for Woodside Energy. (Photo: Town of Port Hedland)

Port Hedland Mayor, Camilo Blanco, and the Town of Port Hedland’s CEO, David Pentz, attended the launch of the LNG Marine Fuel Institute at Parliament House, Canberra on Wednesday, June 21.   The Institute, which was opened by The Honorable Josh Frydenberg MP


Cargo Ship Runs Aground off Virginia

 The U.S. Coast Guard said it is monitoring a 586-foot Thai-flagged cargo vessel that ran aground off Sewells Point in Norfolk, Via., Thursday.   Watchstanders at the Sector Hampton Roads Command Center in Portsmouth received a call at 12:50 p.m


Dunkirk Plans LNG Fueling Station

Image: Port of Dunkerque

 Dunkirk's LNG terminal and Grand Port Maritime de Dunkerque have signed an agreement for the development of an LNG supply station.   The use of liquefied natural gas (LNG) by shipping and road vehicles has grown significantly in recent months with new projects (orders for ships






 
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