GasLog Sees Tighter LNG Shipping Market
GasLog, an international owner, operator and manager of liquefied natural gas (LNG) carriers, is predicting a tighter LNG shipping market, as increasing United States LNG output combines with a seasonal uptick in demand for gas, resulting in rising demand for shipping and higher utilization of the global fleet.These underlying trends in the LNG commodity and shipping markets point towards a structurally tighter market through 2020 and into 2021.As of October 28, 2019, the LNG fleet and orderbook (excluding floating storage and regasification units (FSRUs) and vessels with capacity below 100…
Fugro Appoints Erik-Jan Bijvank as Group Director
Dutch multinational geo-data specialist Fugro has appointed Erik-Jan Bijvank as Group Director for Europe and Africa.With this latest appointment, Fugro said it completes its new executive leadership team, which was established as of 1 May, consisting of the Board of Management, four regional Group Directors and several functional Group Directors.Erik-Jan Bijvank worked at Stork, a Fluor company, for over 20 years, where he fulfilled several senior management roles both in the Netherlands and the UK.
29 Firms May Invest in Chabahar Port
29 companies have applied for investment in the Shahid Beheshti Port of Chabahar, Iran, in the first six months of this year.Behrouz Aghaei, Director General of ports and maritime of Sistan and Baluchestan, said that Chabahar Port, as the country's largest oceanic port with a strategic location and access to international free water, has a special place in Iranian trade exchanges with other countries in the region.Chabahar Port as a gateway to trade with IORA, CIS, Afghanistan and Central Asia…
Azerbaijan Launches Feeder Service in Black Sea
The Azerbaijan Caspian Shipping Company (ASCO) will launch a test voyage of a feeder vessel along the Black Sea container route Batumi-Constanta by September 20.The vessel will sail every 10 days (3 times a month). If cargo volumes increase, the growth in the number of vessels and the regularity of sailings on the line is also expected.Tbilisi, the capital of Georgia, hosted general meeting of an association of legal entities – the Trans-Caspian International Transport Corridor International Association.Rauf Valiyev…
China Launches Intermodal to Hungary
A new freight train service has been launched linking Jinan, capital of east China's Shandong Province, and Budapest, capital of Hungary, making it the newest China-Europe freight train route.According to Xinhua, this is the fifth freight train service Jinan has opened to Europe and Central Asia.The city's port and logistics office said that goods can now reach 12 countries in Europe and Central Asia through the train routes.The report said that cargo trains have made 81 journeys from Jinan to Europe and Central Asia in the first half of this year…
ICTSI Expands Batumi Container Terminal
Philippines-based port operator International Container Terminal Services, Inc. (ICTSI) has inaugurated the newly-expanded Batumi International Container Terminal (BICT) in Georgia.The expansion encompasses both the waterside and landside areas of the multipurpose terminal, intended to optimize the processing of existing cargo flows and install additional capacity to accommodate new business.Marking the importance of the occasion, the inauguration was attended by Giorgi Kobulia…
China Becomes Top Natural Gas Importer
China has overtaken Japan to become the world's top importer of natural gas, as Beijing's crackdown on pollution boosts its demand for the more environmentally friendly fuel, while the restart of nuclear reactors in Japan reduces its LNG imports.China's total natural gas imports over January to October this year via pipeline and as liquefied natural gas (LNG) were at 72.06 million tonnes, up a third from the same period last year, according to Reuters calculations based on General Administration of Customs data.Japan…
Japan, China Agree Trade War Will Harm Global Economy
Japan and China agree that a trade war will have serious consequences for the world economy, Japanese Foreign Minister Taro Kono said on Monday after a high-level economic dialogue between the world's third- and second-largest economies. Concern is growing about a trade row between China and the United States in which the two nations have threatened each other with tariffs. Japan has been criticised by U.S. President Donald Trump on trade and been hit with tariffs on steel and aluminum, but it has not yet threatened counter-tariffs.
India's Oil Imports Surged in 2017
India's oil imports rose by about 1.8 percent in 2017 to a record 4.37 million barrels per day (bpd) as the country boosted purchases to feed its expanded refining capacity, ship-tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. To meet its growing fuel demand India, the world's third-biggest oil consumer, raised its refining capacity in the second half of 2017. India's capacity expansion to about 5 million bpd was aided by Reliance Industries…
APM Terminals Poti to Build Cargo Terminal
APM Terminals Poti and Poti New Terminals Consortium signed a Memorandum of Understanding (MOU) for a USD 100 million dollar investment in a new bulk cargo terminal that can process 1.5 million tons of dry bulk cargo annually and generate new trade opportunities for customers in the Georgian transit corridor. The new terminal is expected to be built on APM Terminals Poti land and infrastructure and will entail the construction, development and operation of a new breakwater, dry bulk cargo terminal and related infrastructure to serve bulk cargo customers.
China to top Japan as World's Biggest LNG Importer
Pollution fight drives surge in pipeline, LNG imports but Japan remains world's biggest importer of LNG. Beijing's crackdown on pollution has put China on track to overtake Japan this year as the world's biggest importer of natural gas, used to replace dirtier coal. China - already the biggest importer of oil and coal - is the world's third biggest user of natural gas behind the United States and Russia, but has to import around 40 percent of its total needs as domestic production can't keep up with demand.
China Rises to World's No.2 LNG Importer
China's 2017 LNG imports to top South Korea's for first time; becomes key driver of spot LNG prices. China will become the world's second-biggest importer of liquefied natural gas (LNG) this year as it overtakes South Korea, shipping data in Thomson Reuters Eikon showed. This is a huge boost to Asia's emerging spot market as Chinese buyers rely much more on short-term purchases to meet their needs than their counterparts in Japan and South Korea. Shipping data in Thomson Reuters…
APM Terminals Poti Upgrades Tugboat Services
APM Terminals Poti has added two Azimuth Stern-Drive (ASD) tugboats from the Maersk Transport & Logistics sister brand Svitzer, to significantly improve harsh weather operating capabilities and night time navigation through the entrance channel. New Svitzer tugboats can operate in harsh weather conditions, offer safer, stronger services for night time entrance channel navigation. APM Terminals Poti Managing Director, Klaus Holm Laursen said, “We are excited to strengthen our vessel handling capabilities with these advanced tugboats.
Upbeat Outlook for Dry Bulk Charter Rates
Drewry expects dry bulk shipping charter rates to recover from the second quarter of 2018 on the back of strengthening Asian iron ore demand, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. For the medium and long term, Drewry holds the same views as in previous forecasts. Chinese steel production is expected to pick up pace at the end of winter, in the second quarter of next year, by which time production curbs will have relaxed. Strong infrastructure and construction activities will further strengthen steel consumption.
Chinese Demand Ensures Asian LNG Rally Has Legs
Unexpectedly strong demand from China, along with rising oil and coal prices, should keep Asian liquefied natural gas (LNG) spot levels buoyant this winter. Despite rising supplies from new plants, spot prices have risen by 55 percent from their 2017 lows to $8.40 per million British thermal units (mmBtu) as Asian buyers also refilled summer stocks. With the peak demand October-March winter gas season almost underway, further price gains are expected. Nuclear outages in Taiwan and rising demand from Thailand…
Iran, Kazakhstan to Establish Joint Shipping Company
Iran and Kazakhstan established a joint shipping company to boost trade, said the managing director of the Islamic Republic of Iran Shipping Lines (IRISL). Mohammad Saeedi told Tasnim News Agency that Iran and Kazakhstan's state-owned railroad companies had established the joint shipping company to connect Central Asia to southern Iran. The IRISL chief said the head office of the firm is in the Iranian port city of Bandar Anzali and a representative office will be also established in the Kazakh port city of Aktau.
Iran's Chabahar Port Signs Pact with India Ports Global
India Ports Global has signed a contract with Aria Banader of Iran to equip and operate two terminals at Chabahar - Shahid -Beheshti Port in Iran for transportation of goods and other purposes. "As per Article 6 of the contract, effort are to be made to commence commercial operations at Chabahar –Shahid- Beheshti Port in Iran within 18 months from the contract activation date or 4 months from the date on which the Lessor hands over the Terminals and the infrastructure facilities to the Lessee in accordance with the terms of the Contract," said a press release from the government.
Maersk Bullish on India
Domestic reforms have slowed down India’s trade momentarily, thereby weakening domestic demand. However, A.P. Moller – Maersk expects Indian EXIM trade to pick up pace in the next quarter. “This dip in import growth was due to piling up of inventory in the market post demonetisation and lack of clarity around Good and Service Tax. It is noteworthy that despite the looming threat of the current geopolitical environment worldwide on global trade, India has been able to maintain its growth trajectory,” Franck Dedenis, Head of West Central Asia Trades said.
India's Plan to Develop Iranian Port Faces US Headwinds
Western manufacturers are shying away from supplying equipment for an Iranian port that India is developing for fear the United States may reimpose sanctions on Tehran, Indian officials say, dealing a blow to New Delhi's strategic ambitions in the region. Lying on the Gulf of Oman along the approaches to the Straits of Hormuz, the port of Chabahar is central to India's hopes to crack open a transport corridor to Central Asia and Afghanistan that bypasses arch-rival Pakistan. India committed $500 million to speed development of the port after sanctions on Iran were lifted following a deal struck between major powers and Tehran to curb its nuclear programme in 2015.
Offshore Innovation: A Real ‘Riverboat’
Central Asia is a booming oil region not far from the Persian Gulf. Energy companies ply the big lake to rack up staggering barrel counts at elephantine oilfields with names like Tengiz (Kazakhstan) or Kashagan (Azerbaijan). Painstaking, oil-fueled nation-building is underway across an oil province, where very shallow water hinders plant and equipment moves by platform supply vessels. Until now — new module-carrying vessels, or MCVs will float high-capital cargoes through Russia’s river system and across the Caspian shallows to Chevron’s Tengiz Extension project.
DP World to Develop SEZ om Aktau, Kazakhstan
Global trade enabler DP World has signed a Memorandum of Understanding (MoU) with the Government of Kazakhstan for the development of a special economic zone in Aktau further boosting trade and logistics in the country. The MoU was signed by DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem and Governor of Mangistau, Akim Alik Aidarbayev in the presence of First Deputy Prime Minister, Askar Mamin. It builds on DP World’s present management advisory services contract with the Port of Aktau, Kazakhstan’s main cargo and bulk terminal on the Caspian Sea.
Mediterranean Migrant Arrivals Reach 1,159; Deaths at Sea:27
Switzerland - International organization for migration (IOM) reports that 1,159 migrants and refugees entered Europe by sea in 2017, through 12 January, arriving mostly in Greece and Italy, compared with 22,590 through the first 12 days of January, 2016. A year ago, IOM reported 22,322 migrants and refugees had landed on Greece’s islands after short runs from Turkey – a number consistent with the surge of Turkey-to-Europe passages that began the previous summer. This year through 12 January, IOM Athens reports that only 430 migrants from Turkey have landed in Greece.
Iran, Kazakhstan Deal for Shipping JV
The chief executive officers of Islamic Republic of Iran Shipping Line (IRISL) and Kazakhstan’s KTZ Express – a subsidiary of the country’s national railways company- signed an agreement for establishing a joint company. The deal could lead to the creation of a new transport corridor connecting Iran’s southern ports to the upper parts of Central Asia - and even possibly Russia and China. On the sideline of Iran's president visit to Kazakhstan, an agreement for establishing a joint…