Insuring the Marine Industry’s Risky Work Environment
From high-traffic ports to bustling boatyards, and busy shipyards to expanding marinas, marine professionals operate in a challenging environment. They work on land, on or around water, and are exposed to all kinds of weather. And the challenges won’t ease up any time soon. Our nation’s ports continue to expand as trade surges. Add in increased commercial vessel traffic and recreational boating, and it’s clear that marine businesses have to be in shipshape condition. It means that the marine insurance industry has to stay on its toes too…
Container Shipping Shakeup Needed for Higher Rates
Container shipping: Change required for higher ratesDemandThe growing imports of loaded containers into the U.S. East Coast (USEC) continues to be a focal point for the container shipping industry. Growing by 10.4 percent in Q1-2018, the first three months saw 215,000 TEU more entering the USEC than in Q1-2017. Exports grew by 55,000 TEU in the same time span, growing outbound loaded containers by 3.8 percent.This illustrates the constantly changing imbalance in U.S. foreign trade. For every five containers entering the USEC in 2013, four were exported.
Container Fleets & Demand Growing in Step -BIMCO
For 2018, the world containership fleet is expected to grow in step with global demand, according to BIMCO’s latest container shipping market outlook. Having experienced falling freight rates from August to year-end in 2017, most liner companies were successful in pushing rates higher in early January 2018. Most of them managed to hold onto most of the gains they achieved, considering October and November were challenging in terms of very low demand growth. The weak demand came from the Far East to Europe trade, and on the Intra-Asian transport.
Fitch: U.S. Port Growth Steady as NAFTA Decision Looms
U.S. ports are positioned for another solid year of growth, though the Trump administration's evolving stance on both domestic and international trade is a long-term development worth a close watch, according to Fitch Ratings in its latest sector briefing. This after a strong 2017 in which ports on both coasts saw overall growth through the year. "Moving to larger ships and implementing operational alliances have helped drive volume growth on both coasts in 2017," said Emma Griffith, Director.
APM Terminals on Trends in North America
North American ports must adapt to changes in customer demand and future industry trajectory, said APM Terminals head of Hub Terminals, Jack Craig. “The customer landscape has changed and become much more competitive. We as an industry need to work together, adapt and respond or watch the cargo move elsewhere,” according to Craig. The vessel alliances now reshaping the industry have been a success for ocean carriers and their quest for cost savings, asset efficiency and economies of scale.
Managing the New Panamax Containerships
The explosive growth of international boxships is challenging not only the physical infrastructure of North American ports, but also the very nature of the existing supply chains that they impact. The recent dialogue on container shipping has been all about so-called “mega-ships;” those vessels that with larger capacity than those that are already in service at any point in time. In the container trades, as in tanker and drybulk arenas, ocean-going vessels are one link, albeit an important component, within broader supply chains.
Panama Canal Sets Record Annual Cargo Tonnage
Following the close of its 2017 fiscal year (FY17), the Panama Canal announced that the waterway welcomed a record 403.8 million Panama Canal tons (PC/UMS) of cargo in FY17, the largest amount of annual tonnage ever transited in its 103-year history. The 22.2 percent increase from the previous year can be directly attributed to the added capacity provided by the Expanded Canal. According to figures, the Panama Canal transited a total of 13,548 vessels during its FY17, representing a 3.3 percent increase compared to totals the year before.
NY/NJ Welcomes CMA CGM Theodore Roosevelt
The 14,400 TEU capacity CMA CGM Theodore Roosevelt became the largest container ship to call the port of New York and New Jersey when it arrived at the APM Terminals Elizabeth container terminal. The ultra-large container ship also established a new record as the largest vessel to pass under the raised roadbed of the Bayonne Bridge, which now gives air draft clearance to vessels of up to 18,000 TEU capacity. Until recently, container ships calling the Port of New York & New Jersey were mainly of the 5,000-8,000 TEU size class.
CMA CGM Major Player in US Economy
The United States represent a major focus for the CMA CGM Group’s international development, said a press statement from the company. CMA CGM, in a blog said that to cover this huge market, the company has been solidly established since 1995 in the United States with a head office in Norfolk and 5 main regional offices in New Jersey, Chicago, Long Beach, Houston and Atlanta. The Group employs 1 760 staff members in 19 offices in USA West and East coast. CMA CGM is well positioned in a market popular with both importers and exporters. The transatlantic trade is very dynamic, the statement said.
CMA CGM Deploys Theodore Roosevelt on SAX
The CMA CGM Theodore Roosevelt will be deployed on the South Atlantic Express (SAX) line, linking Asia East Cost to North America Cost through the Panama Canal, says a statement from the company. With transit times among the fastest in the market between Asia and North, Central America and with an optimal coverage, the SAX line offers a high-quality service to the Group’s customers. This line is also operating through the OCEAN Alliance powered by CMA CGM. In recent years, CMA CGM in the United States has grown to become an industry leader…
CMA CGM Theodore Roosevelt Breaks Panama Canal Capacity
The Panama Canal welcomed the largest capacity vessel to ever transit the Expanded Locks, the CMA CGM Theodore Roosevelt. CMA CGM Theodore Roosevelt became the largest container ship ever to cross the new canal. Leaving the Port of Yangshan on July 28th, the CMA CGM giant crossed the new Panama Canal on August 22th. "Today's transit not only represents the growing success and adoption of the expanded canal, but also its impact on reshaping world trade," Jorge Quijano, the Panama Canal's adminstrator, said in a statement following the Theodore Roosevelt's passage.
CMA CGM Theodore Roosevelt to Inaugurate New Bayonne Bridge
On July 26, 2017, the new CMA CGM Theodore Roosevelt began its voyage by leaving Asia’s shipyards to begin its rotation on the South Atlantic Express Service (SAX) from Hong Kong to Shanghai. Making its way to the port of Panama City, where the Panama Canal opened new locks last summer, the ship stopped over on August 21st before reaching the port of Colón a day later on August 22nd. The Theodore Roosevelt is scheduled to head north to Norfolk, Virginia on August 28th, head south to visit Savannah on August 31st before looping up to Charleston on September 2nd.
APM Terminals Boosts Investment in Port Elizabeth
APM Terminals has significantly increased its previously announced USD $70 million investment plans for the APM Terminals Port Elizabeth facility, and now plans an investment total of USD $200 million. This figure includes ordering four next-generation Ship-To-Shore (STS) cranes to handle ultra-large container ships (ULCS) at North America’s second-busiest port complex. These vessels are expected to start calling the port right after the heightening of the Bayonne Bridge is completed later this year.
Newark Container Terminal Handles Record Volumes
Port Newark Container Terminal (PNCT) handled a record number of container volumes without disruption to its customers following its January 2017 upgrade to the N4 terminal system. The move to Navis N4 is part of PNCT’s $500 million infrastructure modernization project that is expected to nearly double the terminal’s capacity by 2019. Located within the Port of New York and New Jersey—the largest port on the East Coast and third largest in the U.S.—PNCT is among the most important terminals responsible for moving cargo throughout the nation and abroad, handling 1.3 million TEUs annually.
Hapag-Lloyd Eyes Impact of New Grand Canal
The Panama Canal has linked the Pacific with the Atlantic for more than 100 years. It will soon be possible for significantly larger ships to pass through its locks. What will the expansion mean for Hapag-Lloyd? They’re still working in Panama, on one of the biggest construction sites in the world. Everything seems gigantic here. The lock gates alone, veritable monsters of grey steel: 16 in total, each of them 57 meters long, averaging 30 meters high, ten meters thick and weighing 3,300 metric tons. They were brought by special ships from Italy to the jungle of Central America.
Ocean Alliance Calls APM Terminals Port Elizabeth
APM Terminals Port Elizabeth welcomed the 8,700 TEU capacity CMA CGM Bianca, marking the first call of the weekly Ocean Alliance US East Coast Loop 3 Service, providing direct service to the US East Coast from ports in China and Southeast Asia. After a formal welcoming ceremony held at the facility, APM Terminals Port Elizabeth hosted a reception for senior executives of Ocean Alliance member lines to commemorate the occasion. The CMA CGM Bianca arrived and departed on schedule with a berth productivity of 129.2 moves per hour (MPH) for the 4…
Charleston Harbor Deepening Gains Federal Approval
U.S. Today in Washington, DC, the U.S. Army Corps of Engineers Civil Works Review Board (CWRB) unanimously approved the Final Integrated Feasibility Report and Environmental Impact Statement for the Charleston Post-45 Harbor Deepening project, a significant step in the federal process that ensures the project is on schedule to receive its Chief's Report this September. "Today's approval by the Civil Works Review Board allows our harbor deepening project to progress without delay," said Jim Newsome, SCPA president and CEO. "Once deepening to 52 feet is realized, Charleston will offer the deepest harbor on the East Coast with the capability to serve fully-loaded post-Panamax vessels 24 hours a day.
Port of NY & NJ to Handle Larger Vessels
Port of New York and New Jersey will be able to handle 14,000 TEU vessels toward the end of 2017, says officials at the Port Authority of New York and New Jersey. The planned completion of the 50-foot Harbor Deepening Project later this summer and the anticipated completion of the navigational clearance project at the Bayonne Bridge late next year were cited as proof that the port will find itself prepared to handle new, larger classes of cargo ships within its previously stated time frame. U.S.
Panama Canal Welcomes Largest Capacity Containership To-date
The Panama Canal today welcomed the largest capacity vessel to ever transit the Expanded Locks, the Neopanamax containership CMA CGM Theodore Roosevelt, which began its voyage from Asia, will be making stops along the U.S. East Coast. The ship has a total TEU allowance (TTA) of 14,855 and measures 365.9 meters in length and 48.2 meters in beam. “Today’s transit not only represents the growing success and adoption of the Expanded Canal, but also its impact on reshaping world trade,” said Panama Canal Administrator Jorge L. Quijano.
SC Ports Post 14% Container Volume Rise
Container volumes increased 14 percent during SC Ports Authority's (SCPA) 2015 fiscal year, building upon several previous years of above-market growth with strength across all business segments, SCPA announced. "2015 was a memorable year for SC Ports Authority," said SCPA president and CEO Jim Newsome. "We reached near-record levels of containerized cargo and saw strong volume and good diversification of the breakbulk sector. SCPA handled 1.9 million twenty-foot equivalent units (TEUs) during the fiscal year that ended June 30, a jump of 231,473 TEUs from the 2014 fiscal year.
APM Terminals to invest $70 mln in Port Elizabeth Terminal
The Port of New York and New Jersey is the largest port on the US East Coast and third largest in the United States with 6.37 million TEU handled in 2015. In 2014, The Port Authority of New York and New Jersey committed to a ten year, agency-wide capital investment campaign for transportation infrastructure. Over USD 200 billion in cargo value moves through the port that serves one of the most attractive consumer markets in the United States with a population of 20 million located within three hours of the port.
NYK Acquires Stake in Maher Terminals
Together with Macquarie Infrastructure Partners III (MIP III),* NYK Ports, NYK’s subsidiary company, has made the decision to invest in Maher Terminals (Maher), which operates a terminal in the U.S. port of New York and New Jersey. On November 16, 2016, NYK Ports acquired a 20 percent share of Maher. The port of New York and New Jersey, centered amidst major consuming areas, handles the most containers of any port on the East Coast of North America. Maher is the largest terminal in the port with a handling capacity of 3.0 million TEUs annually.
NYK Buys Stake in NY/NJ's Largest Terminal
NYK subsidiary NYK Ports, together with Macquarie Infrastructure Partners III (MIP III), has invested in Maher Terminals, which operates a terminal in the U.S. port of New York and New Jersey. On November 16, 2016, NYK Ports acquired a 20 percent share of Maher. The port of New York and New Jersey handles the most containers of any port on the East Coast of North America, and Maher is the largest terminal in the port with a handling capacity of 3 million TEUs annually. After construction to raise the Bayonne Bridge’s clearance is completed in late 2017…