Car Sales News

China Merchants Heavy Industry (CMHI) has ordered six small-bore, seven-cylinder 21/31DF-M, methanol-burning gensets in connection with the construction of 2 × 9,300 ceu (car equivalent units) PCTCs for China Merchants Energy Shipping (CMES).The business represents the very first order for the new methanol-powered, MAN four-stroke genset. MAN Energy Solutions’ licensee, CMP, will build the engines in China with first delivery due in Q1, 2025.The 3 × 7L21/31DF-M gensets aboard…

China Merchants Heavy Industry has ordered two MAN B&W 7S60ME-LGIM (-Liquid Gas Injection Methanol) engines in connection with the construction of two 9,300 ceu (car equivalent units) PCTCs for China Merchants Energy Shipping (CMES).The order is the first order globally for the S60ME-LGIM variant, the first methanol-fuelled engine for a PCTC, and the first Chinese-built methanol engine.Engine manufacturer, CSE, will construct the engines in China with respective vessel delivery set for 2025 and 2026; the order also contains an option for an additional four vessels.

Newbuild spend for vehicle carriers, including large car and truck carriers (LCTC), pure car and truck carriers (PCTC) and pure car carriers (PCC), smashed past $3.2 billion last week, following big volume orders from Eastern Pacific and Zodiac—an astonishing amount of money for a niche sector, exceeding the previous six years total combined. If we include options, a whopping $4.4 billion has been agreed year to date. Japanese shipyards have raised tariffs to $100 million for dual fuel liquefied natural gas (LNG) 7,000 car equivalent units (CEU), up by a staggering $10 million compared to last year. Chinese yards have followed but maintain a healthy discount quoting $88 million for an equivalent spec.

Share of electricity in the final demand energy mix will more than double from today’s level to 40% in 2050, with two thirds of that electricity provided by solar PV and wind, said DNV GL.Electrification will transform how energy is produced and consumed. By midcentury, 40% of final energy demand will be met by electricity (up from 19% in 2017), 63% of which will be generated by solar PV and wind, said the third edition of the Energy Transition Outlook (ETO) by DNV GL.Electrification is also having a dramatic effect on road transport and by 2032 half of new car sales globally will be electric. The intrinsic efficiency of electric engines means that despite a 75% expansion of the global vehicle fleet by 2050…

During the first six months of this year, container volumes at the Port of Gothenburg rose by 19 per cent, from 318,000 to 378,000 TEUs.The number of cars and intra-European ro-ro units shipped increased by ten and four per cent respectively, whilst the energy segment fell by three per cent. The figures are taken from the Port of Gothenburg’s recently published mid-year volume report.The vast majority of Swedish foreign trade takes place by sea. In the case of trade with countries outside Europe, it is most common for freight to be transported by container ship.During the first six months of the year, 378,000 TEUs (Twenty-Foot Equivalent Units) were shipped, up 19 per cent on the corresponding period in 2017.

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today.Gas will become the largest single source of energy from 2034.DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency. The fossil fuel share of the world’s primary energy mix will reduce from 81% currently to 52% in 2050.Demand for oil will peak in 2022…

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today. Gas will become the largest single source of energy from 2034. DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency. The fossil fuel share of the world’s primary energy mix will reduce from 81% currently to 52% in 2050.

U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico, shipping record volumes to a southern neighbor that has failed to expand its refining network to supply a fast-growing economy. The fuel trade could top a million barrels per day (bpd) at times in 2017 as Mexico becomes increasingly dependent on the United States for strategic energy supplies and providing business worth more than $15 billion a year to refiners such as Valero, Marathon Petroleum and Citgo Petroleum. The rise in Mexico's fuel imports reflects an economy that, after expanding for 27 quarters in a row even amid a public austerity plan, has been unable to increase its refining output to satisfy the consistent growth of its energy demand.

Even if the diesel engine's scandal-driven fall from grace pushes it out of the world's passenger cars, an increasing need for it on ships, in trucks and heavy industry could save the refineries that invested heavily in producing the fuel. The unfolding crisis that kicked off when Volkswagen falsified U.S. car emissions has spurred a litany of changes at vehicle manufacturers, which are now putting their cash behind electric cars, or back to gasoline engines. "I'm not concerned for refineries," said Steve Sawyer, head of refining with consultants FGE. Although oil refiners disagree over how quickly the global market will turn its back on fossil-fuel-powered cars, the shipping industry is set to turn to low-sulphur diesel in droves due to new regulations.

Twenty years, the investment timeline to consider when ordering a new tanker, is a long time in any industry, not least in the rapidly evolving energy markets and the drive for cleaner fuels, says Gibson tanker report. Whilst, the collapse in oil prices in recent years may have taken the shine off many cleaner sources of energy (at least from a cost perspective) other pressures, mainly environmental, are likely to continue to influence energy consumption. In our industry, changes to bunker specifications will influence the type of fuels consumed, whilst more economical designs will see the average fuel consumed per ship fall. The same is true across many sectors, not least automotive where continuous gains in battery technology is seeing electric cars becoming increasingly feasible.

APM Terminals Inland Services, South Asia has signed an exclusive agreement with Gothenburg, Sweden-based Volvo Cars to provide a dedicated, specialized warehouse facility in Chennai. The customized warehouse will provide an integrated Inland Services solution for the Volvo Completely Built Up Units (CBUs) imported from Europe to India through the Port of Chennai. The 102,000 square foot facility will include bonded and non-bonded areas with an overall capacity of 500 vehicles. This specialized warehousing solution by APM Terminals Inland Services is a step towards expanding its portfolio of customized solutions for customers. “We are pleased to be the exclusive Indian partner for inland logistics and services solutions for Volvo Cars…

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts. "Even as oil rallies, analysts have barely nudged up their price forecasts as they worry that crude's recent gains might not be sustainable," notes the Wall Street Journal ("Analysts just aren't buying the oil rally", April 28). Many fear hedge funds are pushing up oil prices prematurely, which will lead to a renewed crash when the bubble bursts, as it did after the last big run-up in prices between January and May 2015. Hedge funds and other money managers have accumulated a record net long position in Brent and WTI futures and options, betting on a further rise in prices equivalent to 656 million barrels of crude.

Iran wants to up exports to India by 200,000 bpd within 6 months. With Iran ready to resume business as usual with the world under a historic nuclear deal, Tehran will target India, Asia's fastest-growing major oil market, and old partners in Europe with hundreds of thousands of barrels of its crude. Iran expects the United Nations nuclear watchdog to confirm on Friday it has curtailed its nuclear programme, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports. Tehran plans to lift exports by 500,000 barrels per day (bpd) post-sanctions and gradually raise shipments by the same amount again…

With 1,300 new Indian-built Ford automobiles loaded onto the Grand Dahlia on August 27th for delivery to Mexico, a new era for the Indian auto industry and Gujarat Port Pipavav commenced. The 59,217 gross ton roll on/roll off (Ro/Ro) vessel was the first to call Western India’s fastest-growing port, operated as part of the APM Terminals Global Terminal Network. APM Terminals Pipavav announced the inauguration of Ro/Ro operations at the multi-purpose port last June after concluding an agreement with Japanese-based NYK subsidiary NYK Auto Logistics (NAL) India for finished car export services and the construction of a new automobile services terminal.

Container volumes through Puget Sound’s largest container ports remained flat in 2014, according to numbers released jointly for the first time by the ports of Seattle and Tacoma. “Reporting our combined cargo volumes demonstrates our commitment to the Seaport Alliance,” said Port of Seattle Commission co-President Stephanie Bowman. The two ports announced in October 2014 plans to form a Seaport Alliance to unify management of marine cargo terminals and related functions. Currently in the due diligence phase…

Container volumes through Puget Sound’s largest container ports remained flat in 2014, according to numbers released jointly for the first time by the ports of Seattle and Tacoma. “Reporting our combined cargo volumes demonstrates our commitment to the Seaport Alliance,” said Port of Seattle Commission co-President Stephanie Bowman. The two ports announced in October 2014 plans to form a Seaport Alliance to unify management of marine cargo terminals and related functions. Currently in the due diligence phase…

Automotive shipping and logistics provider Giga Maritime Group (GMG) has announced plans to invest in new IT infrastructure, the expansion and replacement of fleets, assets and vehicles as well as developing new car terminals, in an effort to hone the group's competitive edge and meet the demands of Malaysia's growing automotive industry. Datuk Kumar Prabakaran, the managing director of GMG companies Giga Shipping Sdn Bhd and Nexus Mega Carriers Sdn Bhd, said these investments are vital in order for the group to meet growth demands following the National Automotive Policy (NAP) announcement earlier this year. Malaysia aims to increase its total production of 1.25 million vehicles and boost annual exports to 250,000 units by the year 2020.

Bureau Veritas has just completed the acquisition of Quiktrak Inc., an American company specializing in vehicle and agricultural machinery stock audit. Founded in 1991 and headquartered near Portland, Oregon, Quiktrak provides field inspections and inventory auditing services for leasing and finance companies. The company has leading-edge technology, including some of the most advanced risk management tools in the industry, particularly its RevoquestTM software for automating the audit and inventory management process. Quiktrak operates primarily in the United States and Canada, and currently distributes its software licenses in 14 countries. The company employs 90 people and has a vast network of independent inspectors giving the company a strong footprint across the United States.

Nordic American Tankers Limited (NAT) publishes its Q4 2012 financial report. In 2012, NAT improved its relative position within the industry despite a weak market. By retaining a strong balance sheet throughout 2012, NAT is able to consider expanding its fleet at a time when tankers are at historically attractive price levels. Nordic American has one type of vessel only - the Suezmax size tankship which can carry one million barrels of oil. The Suezmax vessel is highly versatile, able to be utilized on most long-haul trade routes. A homogenous fleet streamlines operating and administration costs, which helps keep cash-breakeven point low. As announced last month, NAT is paying a dividend of $0.16 a share for the fourth quarter 2012.

Norwegian shipping group Leif Hoegh forecast higher operating profit in 2001, helped by a larger RoRo vehicle transport fleet, after a smaller-than-expected 59 percent jump in the first quarter. "After a slow start to the year for the Ro/Ro and reefer segments, the markets picked up in March, a trend which has continued into the second quarter," the company said. "The operating profit, excluding sales gain or loss, is expected to increase from last year through (the) larger RoRo fleet, the Hoegh Galleon charterparty and the transfer of the liner service," it said. It added that bunker prices, foreign exchange movements and interest rates would all affect the company's results.

In the 1880s it was possible to cruise your way around London by an electric ferry on the River Thames. At its height, the river carried 13 launches, each measuring 28 ft. long. They glided along at five knots and had a range of about 60 miles. Each launch carried one ton of storage batteries hidden underneath the passenger seats. Charging stations were even placed along the river so these electric launches could continue up and down unhindered. An article in Scientific American…