Marine Link
Tuesday, October 17, 2017

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.    

CMA CGM Launches Morocco Express

Photo: CMA CGM Group

The CMA CGM Group, a leader in container shipping, is launching an innovative offer to connect Morocco more quickly to Europe: Morocco Express 1/2/3.    This service is an extremely competitive alternative to road transport transiting through Spain thanks to its reliability and to the reduction of the environmental footprint.   The first departures are scheduled simultaneously on 21 October in Tangiers and Marseille with 3 different rotations for optimized service

Yamal LNG to Ship Two LNG Cargoes in November

(File photo: PAO Sovcomflot)

The Russian Yamal LNG project will ship the first two cargoes of liquefied natural gas in November, followed by another four in December, Russia's customs service said on Tuesday.   The Yamal LNG project is co-owned by local Russian gas producer Novatek, as well as France's Total, China's CNPC and the Silk Road Fund.   Reporting by Oksana Kobzeva 

Update: Transnet Refloats Vessel Grounded at Port of Durban Entrance

© djevelekova / Adobe Stock

One of three vessels that has grounded in the Port of Durban today due to inclement weather has been successfully refloated and remoored alongside. Port teams remain on scene attending to the remaining vessels. TNPA has also managed to contain containers that had blown into the bay. At this stage vessel movements in the Port of Durban remain suspended until futher notice. No severe disruptions have been reported thus far at the Port of Richards Bay.

St. Lawrence Seaway Cargo Volumes Buoyant

The Canada-flag Algolake loading wheat at the CHS elevator in the Port of Duluth-Superior. (Photo by: Terry White / Chamber of Marine Commerce)

As marine shipping continues to support the growth of the Canadian and U.S. economies, St. Lawrence Seaway cargo shipments to-date for 2917 are 14 percent ahead of 2016 volumes.   Total cargo tonnage from March 20 to September 30 reached 24.3 million metric tons – 3 million metric tons more compared to the same period in 2016, according to The St. Lawrence Seaway Management Corporation.   “Our results point to the strength of the Canadian and U.S. economies

Cosco Shipping H1 Net Profit Up 42%

Photo: Cosco Shipping  International

 Cosco Shipping International said its net profit rose 42% in the first half of 2017, thanks to higher net exchange gains and net finance income.  In the first half of 2017, the global economy saw an upward trend in growth with improving market confidence. The solid economic and trade growth brought about long-awaited signs of recovery for the shipping industry.    The rational competition and cooperation in the shipping industry further facilitated the positive growth

CMIT Welcomes Vietnam PM

Photo: APM Terminals

 Vietnam’s Prime Minister Nguyen Xuan Phuc visited Cai Mep International Terminal (CMIT) on July 21st, becoming the first container terminal in the Cai Mep area, part of Saigon Port, to receive the Vietnamese Head of State.    CMIT is a joint venture between APM Terminals, which holds a 49% share, Vietnam National Shipping Lines, with a 36% share, and Saigon Port, with a 15% share.   

Ecuador, DP World Begin USD 1bln Port Construction

Photo: DP World

 The President of Ecuador Lenín Moreno and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem today performed a ground-breaking ceremony to mark the start of construction of the greenfield multi-purpose port project at Posorja, Ecuador.   The ceremony follows the 50-year concession the company won last year from the Government of Ecuador to build a facility with 750,000 TEU (twenty-foot container equivalent) of capacity to fuel the country’s economic growth and

DMA Digitaliz On-board Health Care

Photo: Danish Maritime Authority

 Now, the Danish Maritime Authority makes a digital version of the Radio Medical Record available on the website.   This new feature is a small step on the road to digitalization. These years, the Danish Maritime Authority is striving to digitalize as many work processes as possible to ease the burdens imposed on both seafarers and the industry as much as possible.   The Danish Maritime Authority continues its work within the fields of digitalization and the utilization of

Hong Kong Looks to Ride Out Boxship Turmoil

File Image: A view of busy Hong Kong Harbor (CREDIT: Joseph Keefe)

Hong Kong's port expects a slight rise in container shipping volumes this year despite continuing global turmoil in the sector.   The global container industry, which transports everything from bananas to iPhones, is showing signs of better returns after a near-decade long slump.   Nevertheless, worries over global retail demand and too many ships have continued to put the brakes on a bigger recovery.  

Investment Plans for Europe Transport

Photo: ECSA

 To complete the Trans European (TEN-T) Network, 750 billion euros is still needed. 30 European transport associations, representing infrastructure managers, operators, local authorities, users and equipment suppliers in the maritime, inland waterways, railways, road, cycling, aviation and intermodal sectors, call for strong financial support for the completion of the network.   European citizens and customers require safer, ever more secure, reliable, efficient, green

NORDEN to Ship Road Salt from Chile to US

A NORDEN dry cargo vessel loading salt in Patillos (Photo: NORDEN)

NORDEN has entered into a 10-year contract effective 2020-2029 for the transportation of 4-5 million metric tons of road salt to be loaded in Caleta Patillos 1,400 kilometers north of the Chilean capital Santiago and discharged primarily on the American East Coast in ports between Boston and Baltimore.   Road salt – or rock salt – will be carried on Supramax vessels. The contract covers 8-10 voyages per year of 50,000 metric tons each

Trump Waives Jones Act for Puerto Rico Relief

Photo by Jose Ahiram Diaz-Ramos / Puerto Rico National Guard

President Trump has waived shipping restrictions for Puerto Rico on Thursday at request of the island's governor Ricardo Rosselló and after an outcry from Congress about the scarcity of fuel, food and emergency supplies following Hurricane Maria. "At @ricardorossello request, @POTUS has authorized the Jones Act be waived for Puerto Rico. It will go into effect immediately," White House Press Secretary Sarah Sanders tweeted this morning.

SUNY Maritime Training Ship Sent to Puerto Rico

(File photo: SUNY Maritime)

SUNY Maritime College’s Training Ship Empire State VI will soon sail to Puerto Rico to aid in the recovery efforts and to deliver basic necessities to the island’s residents. The U.S. Department of Transportation’s Maritime Administration (MARAD) activated the vessel for a pre-scripted Federal Emergency Management Agency (FEMA) mission to support relief efforts. Once moored on site, the self-contained vessel will support recovery efforts by providing housing, power

Work Begins at Wardha Dry Port

Nitin Gadkari. Photo: Official FB page of Nitin Gadkari

 The Indian Minister of Shipping Nitin Gadkari will perform the Bhoomi Poojan (Ground breaking ceremony) the Wardha dry port at Sindi (Railway) in Wardha, Maharashtra on 2nd October, 2017.     The Dry Port is being developed by the Jawaharlal Nehru Port Trust (JNPT) in a bid to cater effective logistics services to the industries in Vidarbha region and improve cargo throughput at the Port.  

India to Develop Muktyala to Vijayawada Stretch of Krishna River

Indian Vice President, M. Venkaiah Naidu. Photo: PIB

 Indian Vice President Venkaiah Naidu will lay the foundation stone for the development of Muktyala to Vijayawada stretch of Krishna River (National Waterways – 4) today (October 03) in Vijayawada, Andhra Pradesh.     He will also inaugurate approximately 415 km of National Highways projects worth Rs 1928.46 crores and lay the foundation stone  for another 250 km NH projects worth Rs 2539.08 crores

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

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