Nearly 9,000 Med Migrants Rescued over Weekend
Nearly 9,000 mainly African migrants were rescued in the Mediterranean this past long weekend after being put by smugglers in Libya onto unseaworthy boats heading toward Italy, U.N. aid agencies said on Tuesday. The migrants, many from Nigeria and Senegal with some from Bangladesh, are among an estimated 20,000 held by criminal gangs in irregular detention centres in Libya, the International Organisation for Migration (IOM) said. On release, they pay to board the overcrowded boats, often just inflated rubber vessels that could not cross the Mediterranean, in the hope of starting a new life in Europe. "It is obvious that better spring weather has encouraged smugglers to take people from their detention centres," IOM spokesman Leonard Doyle told a news briefing in Geneva.
Weak Gasoline Prices Prompts US-bound Tanker to Alter Course
A tanker of gasoline en route to New York Harbor from Europe has been diverted to a Caribbean storage hub because a narrow window of opportunity for shipping profitably to the U.S. East Coast appears to have shut, traders said. At least 16 tankers carrying some 600,000 tonnes of gasoline blending components were booked early in April to send fuel from Europe to the East Coast. Since, a Long-Range 2 (LR2) vessel AMOREA, floating offshore carrying summer-grade RBOB gasoline, known as F2-grade, set sail to New York. An LR2 going to New York was uncommon to begin with, but the recent closing of the arb, or the window, caused the vessel to be diverted to the BORCO storage hub in the Caribbean, according to Reuters vessel tracking data and three sources with knowledge of the matter.
European Banks Back Green Shipping Deal
The European Investment Bank and Dutch bank ABN Amro will sign an agreement to support investments for greening the European shipping fleet. This framework is the first with a financial institution in the Netherlands and is supported by the Connecting Europe Facility and was made possible by the EFSI (European Fund for Strategic Investments), central pillar of the Juncker Commission’s Investment Plan for Europe. The framework guarantee agreement will ensure that promoters of sustainable…
Supply Chain Advantages for Brazilian-European Trade
After the successful participation in Intermodal South America in Sao Paulo (Brazil), the port of Antwerp in collaboration with the local industrial and agricultural federations organised a business seminar with networking in the nearby state of Minas Gerais. The event was attended by 50 or so prominent Brazilians including shippers, ship's agents and logistics service providers. It was also honoured by the presence of high representatives from both federations, the government of Minas Gerais and the Belgian diplomatic corps in Brazil. Minas Gerais is the second-largest industrial state and export region in Brazil, with a highly diversified economy. Leading exports include metal products, ores and minerals, coffee, meat, soya and to a certain extent also fruit.
Maiden Bakken oil cargo to Asia ships out, with more to come
The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of Bakken crude, as well as some Mars Sour crude, in late March off the coast of Louisiana onto the very large crude carrier (VLCC) Maran Canopus, destined for Singapore, according to the bill of loading and ship tracking data. The burgeoning appetite for U.S. crude among Asian refiners could be a boon for Bakken crude, especially when the Dakota pipeline starts up.
Maersk to Raise Freight Rates from Asia to Europe
The world's biggest container shipping company Maersk Line, a unit of A.P. Moller-Maersk , said it plans to raise freight rates on routes from Asia to northern Europe by $400 per 20-foot container (TEU). The new rates will take effect from Sep. 1, the company said in a newsletter to shippers on Tuesday. Higher rates on the busiest freight routes between Asia and northern Europe would help companies, which have been struggling with overcapacity as a result of a weak global economy. Only a handful of container shipping companies posted profits last year.
CMA CGM Strengthening EURAF 5 Services
CMA CGM has announced the strengthening of its position on Europe > West Africa route by becoming vessel operator on its current service EURAF 5. Effective April 5th, 2017, CMA CGM operates 2 vessels on EURAF 5 between North Europe and West Africa South Range. With a weekly frequency, EURAF 5 connects Europe to Angola, the Republic of Congo and the Democratic Republic of Congo. Cameroon is served on a fortnightly basis. Reefer cargo from Abidjan relies on a direct service to Europe with very fast transit times. Antwerp is reached in 15 days, Le Havre in 18 days, Lisbon in 21 days.
DynaCERT Secures CE Certification for Hydragen Technology
dynaCERT Inc. has received CE certification for its HydraGEN technology. Specifically, the models HG1 (Class 6-8 trucks), HG2 (Class 2-5 trucks, refrigerated trailers and shipping containers) and HG3 (diesel-powered ocean ships, locomotives and stationary generators) will all now carry the CE mark for shipments to clients within Europe. This signifies that products sold in the European Economic Area (EEA) have been assessed to meet high safety, health, and environmental protection requirements. This also applies to products made in other countries that are sold in the EEA.
NSSLGlobal Adds New Satellite Beams
The additional beams will improve NSSLGlobal’s coverage of Europe and the Far East. NSSLGlobal, an independent service provider of satellite communications, has added two new satellite beams to improve the quality and geographical reach of its global VSAT network. The additional beams will provide customers in the Nordics, Europe, North Africa, the Middle East and Far East with better coverage at sea and on land. The Telenor Thor 6 Nordic beam, positioned 1° West, is a new addition…
Traders Sending European Gasoline Across Big Pond
More than half a million tonnes booked Europe-U.S.; more bookings could follow in May. Traders are shipping more gasoline from Europe to the U.S. East Coast ahead of the summer driving season as a steady reduction in inventories there props up prices. At least 16 tankers carrying some 600,000 tonnes of gasoline blending components including naphtha have been booked in recent days by traders including Glencore, ExxonMobil, Mercuria, Repsol and Total, shipping data shows. That compared with an average of around 300,000 tonnes per week booked throughout March.
Piraeus Targets Cruise Sector
Piraeus Port, Greece's largest, aims to increase its cruise traffic from 1 million passengers a year up to 1.5 million in the short-term and to 3 million long-term, its managing director, Fu Cheng Qiu, said on Friday. COSCO Shipping, which owns the world's fourth-largest container shipping fleet, bought 51 percent of the port's operating company last year, and plans significant investment to turn the port into a transhipment hub for rapidly growing trade between Asia and Eastern Europe.
Capacity Culls Insufficient to Reverse Rate Slump: Alphaliner
The idle containership fleet has reached its highest level in five years, with over 1 Mteu of vessel capacity currently unemployed. Carriers are removing capacity on most main tradelanes in response to weak market demand, with the Asia to Europe route witnessing some of the most drastic cuts. Of the 21 strings operated by the four main carrier alliances in the Far East to North Europe trade, two have been withdrawn by the ‘Ocean 3’ and 2M partnerships. The G6 and CKYHE meanwhile…
Volvo Penta Names Bjuve VP, Customer Support/Training
Volvo Penta of the Americas has appointed Martin Bjuve as vice president for customer support and training. In this position, he will provide strategic direction and management for support and product training for dealers and customers across the U.S., Canada, Mexico, Central America and the Caribbean. Bjuve has served as vice president and chief financial officer at Volvo Penta of the Americas since 2013. In addition to his responsibilities in the finance department, Bjuve has led key manufacturing investment projects in the Americas.
Low Water hinders Rhine, Danube River Shipping
Water levels on the Rhine and Danube in Germany remain low despite recent rain and freight vessels cannot sail fully loaded on the German sections of the rivers, traders said on Tuesday. The Rhine is too shallow for normal sailings south of Duisburg and Cologne to Switzerland, traders said. Weekend rain had helped raise both rivers but water levels remain well below minimum levels for full loadings. The rivers have been shallow since the first week of April. Shallow water means vessel operators impose surcharges on freight rates, increasing costs for cargo owners.
McClier-Frederic R. Harris To Create Major Hub On Suez Canal
The McClier-Frederic R. Harris architecture, engineering, construction and consulting team has been selected to create a trade port and industrial city at Port Said East, located at the Mediterranean tip of the Suez Canal. The project, which is valued at more than $1 billion, will facilitate the global movement of products between Asia and Europe, as well as contribute to the long-term economic prosperity of Egypt by improving the country's ability to manufacture and export goods to countries throughout the Mediterranean, Europe and the United States. As a multi-modal hub, Port Said East will integrate air, rail, water, and road transportation to create a logistical center that will benefit global manufacturing companies, international transportation companies and the region.
Unwanted Diesel, Jet Ships Could Sink Oil Prices
Backlog of vessels at port threaten loading delays; ships with half a million tonnes taking the long route to Europe. Unwanted diesel and jet fuel cargoes are backing up outside Europe's ports and taking longer, slower routes around the southern tip of Africa, traders say. A symptom of the world's excess of oil, it also paints a gloomy picture of the chance of an oil price rebound. The abundance of crude that roiled commodity markets and turned the balance sheets of oil majors on their head also encouraged under-pressure European oil refineries to run at full clip. Refineries from Rotterdam to India to Louisiana, drunk on cheap crude, ran regardless of whether the world wanted what they were making. Meteoric demand growth earlier this year for products such as gasoline masked the surplus.
World's Largest Containership in Shanghai
MOL Triumph, the world's largest containership with a carrying capacity of 20,170 TEU, successfully arrived at Yangshan Port in Shanghai on April 10, 2017, said Mitsui O.S.K. Lines, Ltd. MOL took delivery of MOL Triumph, the first of six 20,000 TEU-class containerships from Samsung Heavy Industries on March 27, 2017. At 400 meters in length and 58.8 meters in width, MOL Triumph is longer than the Oriental Pearl Radio and TV Tower of Shanghai is tall. MOL established MOL (China) in Shanghai in 1995.
APL Strengthens Asia-Europe Service Network
APL today announced the launch of a new weekly service - the India Pakistan Europe (IPE) Service, directly connecting the key South Asian markets of India and Pakistan to major ports in Europe. The new IPE service builds on APL’s strong market presence and local expertise in India and Pakistan to enhance its Asia-Europe service offerings. “Europe is a premier trading partner and a major export market of South Asian countries. It is opportune that we expand our service coverage in Asia-Europe through the new IPE service, directly linking the major economies of India and Pakistan to Europe.
STX Group’s Plan to Sell 20% Stake in STX OSV
In response to the various media articles relating to the STX Group’s plan to sell a 20 percent stake in STX OSV Holdings Limited ("STX OSV"), the Board of STX OSV understands after clarification with STX Europe Holding AS (“STX Europe”), that STX Europe is continually exploring opportunities in relation to any strategic option of its interests in its subsidiaries including, STX OSV. The Board of STX OSV further notes that STX Europe is subject to and understands that STX Europe will comply with a lock-up period for its interest in STX OSV which ends 12 months from 12 November 2010…
Yang Ming Halts Container Service to Iran
Taiwan’s troubled Yang Ming Marine Transport Corp is halting its container service to Iran, becoming the first foreign shipping line to abandon the route a year after international sanctions on Tehran were lifted, Reuters reported. Yang Ming announced in a regulatory filing it had suspended its share trading until May 4 in an effort to reduce losses from a global downturn in shipping. Yang Ming, the world’s ninth largest container shipping line, is a comparatively small player in Iran, calling there just once a week. Several larger shipping lines have begun serving Iran since sanctions were lifted a year ago. An executive with Keelung-headquartered Yang Ming said the firm had “ceased direct services to Iran on concerns of rising tensions there”.
Global Logistics Index Hots Lowest in Four Years
The index that tracks shipper and freight forwarder confidence in the activity of the U.S.-Europe and Asia-Europe shipping lanes hit its lowest level in December in the index's nearly four-year history, reports Reuters. It has hit by lower margins for European freight forwarders such as Denmark's DSV because of overcapacity in shipping. The "Stifel Logistics Confidence Index," published by U.S. investment firm Stifel Financial Corp. and U.K.-based consultancy Transport Intelligence…
Outlook Bright for Freight Forwarders
The Stifel Logistics Confidence Index for May indicated some improvements from April’s decline. In particular, the six-month outlook appears bright as airfreight gained 2.8 points to 63.4 and sea freight increased 2.1 points to 62.9. Overall, the total index increased 1.1 points to 57.4. Even though this is down 0.6 points from one year ago, it is still 6.7 points higher than May 2013. Airfreight continues to lead the optimism for both the six-month outlook as well as for the present. Sea freight however, remains troublesome for the present and while some ports have settled labor issues, other issues such as the rise of the mega-vessel and larger shipping alliances are straining port operations.
STX Europe Sells Shares in STX OSV Holdings Ltd.
STX Europe Holding AS, a wholly owned subsidiary of STX Europe AS (STX Europe), has agreed to sell part of its equity interests in STX OSV Holdings Limited (STX OSV) to investment funds affiliated with OZ Management LP (Och-Ziff). The placement of 215,590,000 ordinary shares by STX Europe will be at a price of S$1.33 per share. This amounts to approximately 18.27% of the total issued share capital of STX OSV. Following the sale, STX Europe will hold 598,851,000 shares in STX OSV equal to a majority shareholding of 50.75%. STX Europe underscored that the placement was made with the objective of improving the trading liquidity of STX OSV. As a result of placement, Och-Ziff's shareholding in STX OSV will increase to 20.0%.