Hyundai Merchant Marine Forms Consortium with MSC, Hapag-Lloyd and ONE
Hyundai Merchant Marine (HMM) announced that it has established a consortium with global liners, MSC, Hapag-Lloyd, and ONE to launch joint services between Asia and west coast of South America. Previously, HMM operated three Asia-west coast of South America services with MSC, CMA-CGM, Hamburg Süd, Hapag-Lloyd, APL, and CSCL. The newly reorganized ‘Asia-west coast of South America’ joint services will connect Korea, China, Japan, Taiwan with the west coast of Mexico, Peru, Chile, Columbia through three loops starting at the beginning of April.
Northern Offshore Sells Semi-Sub
Northern Offshore announces it has sold its semisubmersible Energy Driller to an unnamed party for conversion to alternative use. The unit had previously been cold stacked at a shipyard in Bahrain following completion of a term drilling contract in India. Northern Offshore previously sold the drillship Energy Searcher in late 2016. Chairman and (Interim) CEO Dr. Northern Offshore is a global offshore drilling company historically operating in the North Sea, West Africa, South Asia, Near East and Southeast Asia.
China, not Trump, Drives U.S. Coal Revival
If China does seek a way to retaliate against U.S. proposals to impose import curbs on steel and aluminium, then targeting President Donald Trump's favoured coal would be tempting. One of Trump's key campaign promises in the 2016 election victory was to end the war on what he termed "beautiful, clean" coal. Figures released last week by the U.S. Energy Information Administration (EIA) suggest he has met with some success. U.S. coal output surged the most in 16 years to reach 773 million short tonnes, equivalent to about 701 million metric tonnes, in 2017, the EIA said on Feb. 16.
Asia's Soaring Gas Demand Beckons New LNG Projects
Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015, to almost 40 billion cubic metres (bcm) a month.
Hyundai Merchant Marine Crosses 10,000 TEU in US Premium Service
South Korea's Hyundai Merchant Marine (HMM) said that its handling volume of US Premium Service reached over 10,000 TEU as of the end of January. Since May last year, HMM has provided US Premium Service in PS1, PS2, and PN2 routes connecting Asia main ports with US west coast including Los Angeles and Tacoma etc. With the Asia-US West Coast Premium service, customers can secure reliable cargo loading space even in the peak season and have priority to discharge their cargoes at the destination. Normally, it takes two or three days to receive cargoes at US west coast ports in high congestion.
Mundra Port, Port of Montreal Sign Cooperative Agreement
On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).
Yang Ming Marine Offers Korea-Vietnam-Thailand Service
Taiwan-based ocean shipping company Yang Ming Marine Transport Corporation announcesdthat it will provide Korea-Vietnam/Thailand service (KVX) as of March 7th, 2018. The calling port rotation of KVX service is: Incheon–Ulsan–Busan–Shekou–Ho Chi Minh–Laem Chabang–Bangkok–Laem Chabang–Ho Chi Minh–Incheon. With the new KVX service and the existing CT2 service, YM will provide customers with more convenient and reliable services between Korea, Vietnam and Thailand. Two months ago…
835 Ships Sold to Scrap Yards in 2017
More than 800 large oceangoing commercial vessels were sold to the scrap yards in 2017, according to the latest data from the NGO Shipbreaking Platform. Of the 835 ships sold to scrap yards, 543 vessels – or 80.3 percent of total tonnage dismantled globally – were broken down on the beaches of Bangladesh, India and Pakistan. However, the number of vessels and total GT scrapped in the tree nations decreased compared to 2016. Still, of the 20.7 million GT dismantled worldwide in 2017, 16.6 million GT was on the beaches.
Chinese Warships Enter East Indian Ocean
Eleven Chinese warships sailed into the East Indian Ocean this month, a Chinese news portal said, amid a constitutional crisis in the tiny tropical island chain of the Maldives now under a state of emergency. A fleet of destroyers and at least one frigate, a 30,000-tone amphibious transport dock and three support tankers entered the Indian Ocean, news portal Sina.com.cn said, without linking the deployment to the crisis in the Maldives or giving a reason. "If you look at warships and other equipment, the gap between the Indian and Chinese navy is not large," Sina.com.cn said on Sunday.
Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG
Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material. Samsung Total Petrochemical, LG Chem and Royal Vopak are among a number of companies in Asia expanding import terminals or retrofitting plants over the next one to two years as they buy more LPG. The gas is used by petrochemicals firms to make a broad range of consumer and industrial plastics. Asian petrochemicals firms have traditionally used naphtha as a raw material. They are now switching to LPG because rising U.S. supplies have pushed prices below those of both naphtha and LPG from their main supplier, the Middle East.
Pacific International Lines Start Service in Far East - Red Sea Routes
Pacific International Lines (PIL), Singapore’s leading containership operator, announces two upgraded weekly services on the Far East – Red Sea service route. Done in collaboration with Ocean Alliance, the routes named RSS and RES will commence operations in March 2018, superseding the current three services RSS, RS3 and RS5. The route will be operated with a series of 17 x 11,000 to 14,000TEU vessels including its latest newbuilds, the 11,923TEU P Class in the service. The highly efficient and versatile P Class were purpose-built for Red Sea…
Geodis Wilson Appoints New Cluster MD
Geodis Wilson announced the appointment of Rene Bach-Larsen as Cluster Managing Director of Singapore and Southeast Asia. Looking forward to his new role of developing Geodis Wilson’s business in one of Asia’s most dynamic economical hubs, Rene said, “The Southeast Asia market—Singapore, Indonesia, Malaysia, Thailand and Vietnam—is certainly often overlooked as a growth area because of its modest size compared to the biggest players China and India. However, from a global perspective, it is actually a key area. It has weathered the global recession well and is experiencing rapid growth.
Wall Named MD of RichLand-LSP
RichLand-LSP strengthens chemical logistics business unit with appointment of Graham Wall as Managing Director; Singapore-based logistics solutions provider looks to expand in South-East Asia region under new leadership. Leading chemical logistics solutions provider RichLand-LSP has appointed Graham Wall as Managing Director as it looks to expand its bulk liquid chemical transport operations throughout South-East Asia. Mr Wall brings 25 years of chemical logistics experience…
LNG Heats Up Again as Market Changes: Russell
If you were looking for signs that the liquefied natural gas (LNG) merry-go-round is starting to spin a little faster, the announcement of a planned massive expansion in Papua New Guinea is ample evidence. Global majors Exxon Mobil and Total are considering plans to double LNG exports from Papua New Guinea to about 16 million tonnes per annum, their partner Oil Search said on Feb. 20. If approved, three new trains would be added to the existing Exxon-operated PNG LNG facility…
LNG Rebounds as Asian Buyers Replenish Inventory
Interest for prompt spot cargoes still keen; demand could roll over to April. Asian spot liquefied natural gas (LNG) prices rebounded this week as persistently cold weather in North Asia forced buyers to enter the spot market to replenish inventory. Spot prices for March <LSG-AS> delivery in Asia climbed 40 cents to $10.60 per million British thermal units (mmBtu) this week, according to several LNG traders in Asia. Cargoes for delivery in the first half of March are trading between $10.70 and $11 per mmBtu while cargoes for the second half of the month are trading at just above $10 a barrel…
Global Seaborne LPG Volumes Grow: Epic Gas
Global seaborne LPG volumes saw continued growth in 2017 reaching 91.9 million tonnes, 4.3% higher than the 88.1 million tonnes shipped in 2016, says Epic Gas. Epic Gas loaded 2.8 million tonnes in 2017 and was involved in 2,486 cargo operations in 266 different ports. LPG cargoes made up 80% of the cargoes lifted with the balance being petrochemical. At the year end, we had 4 vessels operating in the Americas, 18 in the Europe/Middle East/Africa (EMEA) belt and 19 in Asia. Propylene imports into China reached a record high of 3.1 million tonnes…
Piracy, Armed Robbery in Asia Drop in January: ReCAAP
A total of seven incidents of piracy and armed robbery against ships were reported in Asia - five actual incidents and two attempted incidents - in January 2018, compared to 16 incidents reported in December 2017, according to regional piracy watchdog ReCAAP ISC. Out of the seven reported, five were actual and two were attempted incidents. One of these was a piracy incident and six were armed robberies against ships. Five incidents occurred on board ships while at anchor/berth…
CMA CGM Group Takes Delivery of Corte Real
CMA CGM Group took delivery this morning, Monday August,16th, in South Korea of the CMA CGM Corte Real (13,830 teu) built by DSME (Daewoo Shipbuilding and Marine Engineering), the third of a series of eight vessels named after the great explorers. CMA CGM Corte Real (365 meter long, 51,2 meter large and 15.5 meter draught) is up to date the largest vessel sailing under the UK flag, a European flag which is part of the white list of the “Paris Memorandum of Understanding on Port State Control” a guarantee of safety, security and environmental protection. The vessel will join the CMA CGM Christophe Colomb and CMA CGM Amerigo Vespucci on the FAL5 service (French Asia Line) linking Asia to North Europe.
Sonatrach Eyes More Vessels to Boost Asia Gas Sales
Algeria will acquire more vessels to transport gas to Asia as it eyes increased sales in that region, the chief executive of state energy firm Sonatrach said on Monday. "With Russia and the U.S., gas competition is tough," Abdelmoumen Ould Kaddour told reporters during a visit to the Hassi Messaoud oilfield. He gave no details. Kaddour also said Sonatrach's oil drilling in Algeria's southern neighbour Niger, where a Sonatrach unit was awarded a production-sharing deal in 2015, had been "satisfying" so far.
Global Shipbuilding to Turn Around in 2017: Castrol
Despite a marginal deterioration in the growth outlook for the global shipbuilding industry, annualized five-year growth rates for the sector are still forecast to reach a healthy 3 to 5%, before picking up substantially after 2017, says Castrol Marine Trade Barometer. The Barometer predicts that growth will be driven largely by the Asia-Pacific region, but also Latin America and the Middle East. All European nations but the Netherlands face a downward trend until 2017. Mandhir Singh, COO at Castrol, says, “The main growth in shipbuilding will come from AsiaPacific countries to 2019.
PIL, PSA, IBM Conclude Successful Blockchain Trial on Chongqing-Singapore Route
Singapore’s Pacific International Lines (PIL), port operator PSA International, and technology giant IBM Singapore have concluded a successful blockchain trial, having signed a memorandum of understanding in August 2017. Following the signing of the MOU, the companies worked on a Proof Of Concept (POC) exercise, built on IBM Blockchain Platform, applying and then testing a blockchain-based supply chain platform to track and trace cargo movement from Chongqing to Singapore via the Southern Transport Corridor.
Hyundai Merchant Marine, AAL Shipping Join for MPV Service
South Korea's Hyundai Merchant Marine (HMM) announced it is beginning its cooperation with Singapore based carrier, AAL Shipping, for Multi-Purpose Vessel (MPV) service. Specialist multipurpose carriers and long-standing collaborators, AAL and Hyundai Merchant Marine (HMM), are entering a global cooperation that will see both carriers expand their trade route coverage, sailings frequency, and MPV fleet capacity. The cooperation will create a joint Far East – Middle East MPV Liner Service, served by five MPV vessels and a scheduled bi-monthly rotation.
ARL Strengthens Asian Presence
Rolf G. Oetter, Founder and President of Albacore Research Ltd (ARL), and Dr. Oskar Lee announced the official launch of ARL Asia Pte Ltd (ARL Asia) as solutions provider and training and technical center for ARL’s ShipConstructor software in Asia. ShipConstructor is the powerful AutoCAD based 3D product-modeling software for the design and fabrication of ships and offshore structures. As Director of ARL Asia, Dr. Lee will provide CAD/CAM system integration in the Asia Pacific region for all ShipConstructor clients, with the aim to co-ordinate sales and technical support. To aid this effort, ARL Asia has enhanced its website (www.shipconstructor.com.sg) to provide full product, training and exhibit information for ShipConstructor’s Asia-based clients. “Under Dr.