Gulf Petrochem Sets Up Russian & Baltic Trading Desk
Gulf Petrochem Group (GP) has further strengthened its European bunkering division by establishing a Russian and Baltic trading desk within the Rotterdam office. Boris Kuftyrev has been appointed to manage this desk overseen by Chris Todd in Europe’s largest bunkering port, Rotterdam. Kuftyrev has in-depth knowledge and experience having previously held the position of head of sales at Gazpromneft Marine Bunker ltd. He joins GP’s ever expanding back-to-back bunker team and will specifically look to develop the group’s presence in the Russian and Baltic region.
Hapag-Lloyd Celebrates 125 Years in Montreal
125 years ago, the steamship “Cremon” set sail from Europe to Canada for the first time under the Hapag flag. Hapag-Lloyd will be celebrating this anniversary in Montreal today with the shipping company’s customers and other partners. “As an important connection between Atlantic and Pacific, as well as between the United States, Asia and Europe, Canada has been and continues to be an important and special partner for us,” said Rolf Habben Jansen, the CEO of Hapag-Lloyd AG. At the end of the 19th century…
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.
DP World London Now Handles Far East Calls
MOL Triumph, the first of the world’s largest and newest vessels to call in the UK, arrives in Southampton on THE Alliance's FE2 service as new third deep-water berth opened at London Gateway in April, ahead of first regular Asia-Europe service starting. DP World's UK terminals will welcome the first services from the Far East following a global shake-up of the world’s shipping lines. Inaugural calls of Asia/Europe services by THE Alliance, a shipping consortium made up of Mitsui O.S.K Line…
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…
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…
Fincantieri Buys Majority Stake in STX France
Italian shipbuilding company Fincantieri S.p.A. said it has signed a share purchase agreement for the acquisition of 66.66 percent of the share capital of STX France shipyard from its current shareholder STX Europe AS. The agreement entails a purchase price of €79.5 million ($89 million). Fincantieri continues to negotiate with the French State for the finalization of the shareholders’ agreement for STX France in accordance with the Heads of Terms signed on April 12. Based in Saint-Nazaire…
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.
Maran Tankers Chooses Q88VMS
Greek oil tanker shipping company Maran Tankers Management has selected a cloud-based voyage management system to manage its chartering and commercial operations. Q88VMS, the latest product in Q88 LLC’s portfolio, is a web-based platform for managing all voyage related information. It will allow Maran Tankers Management to operate its growing fleet seamlessly across its various offices without disruption or delay, the developer said. “Q88VMS’ integrated approach to managing the voyage chain was a huge factor for our company…
APM Terminals Zeebrugge Regains Asian Service
The weekly Ocean Alliance NEU4 service, operated by French-based CMA-CGM, will link the port of Zeebrugge with the Asian ports of Tianjin, Qingdao, Shanghai, Ningbo, and Yantian, China as well as Busan, Korea, beginning with the first call of the 13,380 TEU capacity APL Changi on May 16th. The NEU4 service is one of six Asia/North Europe services offered by the Ocean Alliance, which began operations on April 1st with CMA CGM, COSCO Container Lines, CMA CGM, Evergreen Line and Orient Overseas Container Line as members.
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…
Gondan Delivers Dual Fuel Tug
After completing its sea trials program, DUX, the first dual fuel tug ever built in Europe, was delivered yesterday to its owner, the Norwegian company Østensjø Rederi A/S. This vessel is the first tugboat of a series of three. Designed by the Canadian company Robert Allan Ltd., the new escort tug, with 40.2 meters length and 16 meters beam, will provide tug services to Norwegian state-owned energy company Statoil, at the far-north terminal located at Melkøya under severe weather conditions.
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%.
Dittmann Named Chairman of SEA Europe
Kjeld Dittmann, the Managing Director of Lyngsø Marine A/S, is the new Chairman of the European Ships and Maritime Equipment Association (SEA Europe). He succeeds Govert Hamers, CEO of Vanderlande Industries in the Netherlands, who has completed his term as Chairman. The announcement was made at the SEA Europe Annual General Meeting in Istanbul on June 26 hosted by the Turkish Association of Ship Industrialists (full member of SEA Europe). “SEA Europe has established a strong voice in Brussels for both Europe’s shipyards and equipment suppliers…
Stolt-Nielsen Orders Small LNG Carriers
Stolt-Nielsen Limited subsidiary Stolt-Nielsen Gas B.V. (SNG) has contracted with Keppel Singmarine for the construction of two 7,500 cbm liquefied natural gas (LNG) carriers, with options to purchase three additional similar ships. The ships are to be built at Keppel Singmarine's shipyard in Nantong, China, with deliveries scheduled in the second and third quarter of 2019 respectively. The contract for the initial two ships is valued at approximately $80 million, including site-team costs and capitalized interest during construction. The ships will be capable of operating on either diesel fuel or LNG, with a class notation and technical capability for STS (ship-to-ship) bunkering, thus significantly enhancing their versatility.
Top Lines Resign From EPIC
Indian sub-continent - have given notice to the other consortium members. three will resign from membership of EPIC from July 2003. Nedlloyd will form a new consortium to be called EPIC 3. from Contship Containerlines and CMA CGM, plus two from P&O Nedlloyd. transit times on the route which will be maintained by the members of EPIC 3. the capacity available through the new service agreement. volumes from India/Pakistan to Europe.
APL Appoints Regional Head in Europe
APL announced the appointment of Peter Jongepier as Regional President of its business in Europe. “Peter has more than 30 years of experience in the shipping industry. I am confident he will effectively lead APL’s business across Europe, an important part of APL’s global liner activities. His familiarity with the region and knowledge of the trade, combined with his leadership qualities, will ensure continued customer focus and growth in Europe,” said APL President Kenneth Glenn. Mr Jongepier will be responsible for APL’s commercial activities in Europe, inclusive of the former Soviet Union and Turkey. He will be based in Uxbridge in the UK and will report directly to Mr Glenn. Since joining APL in 1995, Mr Jongepier has held a range of senior positions within the company.
ACR Europe Appoints Andreas Lesch Managing Director
Andreas Lesch was recently named Managing Director of ACR Electronics Europe GmbH (formerly Nauticast), and now commonly known as ACR Europe based in Vienna, Austria. market segments. In his previous position as Chief Technology Officer at ACR Europe, Lesch led development of the highly successful ACR Nauticast Class A AIS system. In early 2003, the Nauticast Class A AIS Transponder received BSH Wheelmark Approval and the AIS company went from being a technological innovator to a force in the industry. ACR Europe recently introduced a Class B AIS system known as Nauticast B, one of the first entries into the Class B category.
Port of Cleveland’s Express Service Underway
With the departure of the vessel Fortunagracht out of Antwerp, Belgium over the weekend, the Cleveland-Europe Express service between the Cleveland Harbor and Europe via the Saint Lawrence Seaway has officially launched. The vessel is loaded with breakbulk and containerized cargo and is set to dock in Cleveland around April 17. The Cleveland-Europe Express is the only regular, scheduled international container and noncontainerized cargo service on the Great Lakes. The Port of Cleveland and Dutch company The Spliethoff Group entered into an agreement in November 2013 to begin the service.