Marine Link
Wednesday, July 18, 2018

Far East News

Container Ship “Afif” Named in London Gateway

Photo: Hapag-Lloyd

It took British Maritime Minister Nusrat Ghani just one go to activate the mechanism that sent a big champagne bottle crashing against the massive sidewall of the “Afif”. This marked the official naming of the 15,000 TEU container ship on 16 July 2018. The name “Afif” is of Arabic origin and means “purity” and “honesty”; also, Afif is a city in central Saudi Arabia. The ship is technically equipped to use LNG fuel. With its ten sisters, “Afif” belongs to the category of “Ultra Large Container Vessel”, the second-largest ship class in Hapag-Lloyd’s fleet.

"Vladimir Rusanov" Completes First Eastern Transit

Photo: Mitsui O.S.K. Lines

Mitsui O.S.K. Lines (MOL) announced that the Ice-Breaking LNG Carrier "Vladimir Rusanov", which is jointly owned by MOL and China COSCO Shipping Corporation, has successfully arrived at the Bering Strait. The vessel carried out a LNG loading operation in the Yamal LNG plant at Sabetta port, before sailing for the Far East via the Northern Sea Route on 25 June. The vessel safely arrived at the Bering Strait on 6 July, and is planning to call Jiangsu Rudong port in China for an unloading operation of its LNG cargo.

Maersk Line Rolls out Exclusive Transatlantic Service

Photo: Maersk Line

Maersk Line, the world's largest shipping company, announced the expansion of its product portfolio between Europe's Mediterranean region and Canada to cater for the growing demands of importers and exporters on both sides of the Atlantic. The exclusive, fully Maersk Line-operated weekly service will be a five-vessel rotation stopping in Salerno and La Spezia (Italy), Fos-sur-Mer (France), Algeciras (Spain), Montreal and Halifax (Canada), and Valencia (Spain). Other Mediterranean…

South Africa Cruise Ports Nominated for World Travel Awards

Port Elizabeth (Photo: TNPA)

The Transnet National Ports Authority (TNPA) operated Ports of Durban, Cape Town, and Elizabeth have been nominated for the Africa & Indian Ocean segment of the 25th annual World Travel Awards in the category of “Africa’s Leading Cruise Port 2018”.Founded in 1993, the World Travel Awards seek to acknowledge, reward and celebrate excellence across all sectors of the global travel and tourism industry. Global travel and tourism industry leaders will be recognized at the various World Travel Awards gala ceremonies, with Durban hosting the Africa and Indian Ocean segment for the third time.

Zvezda Shipyard to Build an Advanced Ice Class Tanker for Rosneft

Photo: Rosneft

AO Rosnefteflot, a subsidiary of Rosneft, and Zvezda shipyard signed a contract during the St. Petersburg International Economic Forum for the construction of a shuttle tanker Arc6 with a deadweight of 69,000 tons. The contract provides for an option to build a second similar vessel. At the same time, a 20-year charter agreement was signed between Rosneft and Rosnefteflot. The tanker will be used for safe export of oil and petroleum products from Trebsa and Titova fields. Arc6…

Container Shipping Shakeup Needed for Higher Rates

(Photo: Eric Haun)

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.

Tiny Japan Shipping Shares Jump on North Korea Detente Hopes

© Alexey Lesik / Adobe Stock

Shares of small Japanese shippers jumped this week after the historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un sparked hopes of news business ties with the reclusive country.Japanese retail investors are snatching up shares of the firms that may benefit from a potential thaw between Tokyo and Pyongyang, even though the Japanese government has been a staunch supporter of "maximum pressure" on North Korea.Shares of Rinko Corp, a marine transportation company…

Ultra Deep Solution Signs 5-Year Charter for DSCV Andy Warhol

Photo: Ultra Deep Subsea Pte Ltd

Ultra Deep Solution has gone into a 5 year contract to Charter out the UDS DSCV Andy Warhol announced Shel Hutton,  CEO of the company in his Facebook post. The Warhol is an DNV-GL 18 men Saturation system with Twin 18 men SPHL’s and integrated Air Diving system. It comes with FiFi 3 and full oil recovery system. This vessel has 150 t AHC crane to 3000 msw. Again she is a MT design 6023 from Norway. Also the ship has Kongsberg DP system with Schottel propulsion system. Their will be WROV’s built in from FMC/Schilling.

Capital Product Partners Adds Two Vessels, Sells One

Photo: Capital Product Partners L.P.

Greece-based international diversified shipping partnership Capital Product Partners announced the completed acquisition of the M/T ‘Aristaios’, as well as the sale of the M/T ‘Aristotelis’ and the acquisition of the M/T ‘Anikitos’. On January 17, 2018, the Partnership acquired the eco-type crude tanker ‘Aristaios’ (113,689 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding Co. Ltd., South Korea) for a total consideration of $52.5 million from the Partnership’s sponsor, Capital Maritime & Trading.

Sovcomflot’s New Icebreaker Named

(Photo: Sovcomflot)

A ceremony raising the flag of the Russian Federation and naming a new multifunctional icebreaking platform supply vessel, Yevgeny Primakov, took place on February 3, 2018 in Saint Petersburg. The vessel was built by Arctech Helsinki Shipyard, a subsidiary of the United Shipbuilding Corporation; technical supervision was carried out by the Russian Maritime Register of Shipping (RS), which assigned the vessel a high ice class – Icebreaker6. Yevgeny Primakov’s design and construction…

Hyundai Merchant Marine, AAL Shipping Join for MPV Service

AAL A-Class Vessel, with project cargo (Photo: AAL)

South Korea's Hyundai Merchant Marine (HMM) announced it is beginning its cooperation with Singapore based carrier, AAL Shipping, for Multi-Purpose Vessel (MPV) service. Specialist multipurpose carriers and long-standing collaborators, AAL and Hyundai Merchant Marine (HMM), are entering a global cooperation that will see both carriers expand their trade route coverage, sailings frequency, and MPV fleet capacity. The cooperation will create a joint Far East – Middle East MPV Liner Service, served by five MPV vessels and a scheduled bi-monthly rotation.

Pacific International Lines Start Service in Far East - Red Sea Routes

Photo: Pacific International Lines

Pacific International Lines (PIL), Singapore’s leading containership operator, announces two upgraded weekly services on the Far East – Red Sea service route. Done in collaboration with Ocean Alliance, the routes named RSS and RES will commence operations in March 2018, superseding the current three services RSS, RS3 and RS5. The route will be operated with a series of 17 x 11,000 to 14,000TEU vessels including its latest newbuilds, the 11,923TEU P Class in the service. The highly efficient and versatile P Class were purpose-built for Red Sea…

Capesize Rally Boosts Baltic Index by Nearly 2%

© Mike Mareen / Adobe Stock

The Baltic Exchange's main sea freight index on Friday marked its best day in over two weeks, led by stronger demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose for the fourth straight day and was up 19 points, or 1.72 percent at 1,125 points. The index logged its biggest one-day percentage gain since Jan. 24. The capesize index gained 128 points, or 7.7 percent, to 1,790 points. With a 22 percent jump, the index saw its best week since the week of Sept.

BIMCO: China Breaks New Ground… Again

© Igor Groshev / Adobe Stock

Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years. Imports of crude oil and coal have benefitted the shipping industry to the greatest extent as both volumes and distances have increased. China continues to ramp up its imports of iron ore with seaborne imports growing 4.7% in 2017 compared to 2016.

Container Fleets & Demand Growing in Step -BIMCO

© Mihai Andritoiu / Adobe Stock

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.

Adventure Bound: Sunstone Ships Climbs to New Heights

Niels-Erik Lund (Image: SunstoneShips Inc.)

Niels-Erik Lund began his passenger ship career in 1969 as a trainee in a Danish passenger shipping company, DFDS. In the nearly 50 years since, the passenger and cruise shipping industry has changed many times over, with consistent growth being the only similarity between then an now. Today Lund, President & CEO of Sunstone Ships, Inc., has an unfettered view of the expedition cruise sector that he helped to create. With the expedition and luxury cruise segments set for fast growth, Maritime Reporter spoke to Lund to help put the market in better perspective.

MOL, FEIA Team to Develop North Sea Route

Ice-Breaking LNG Carrier Vladimir Rusanov Photo MOL

Mitsui O.S.K. Lines, Ltd. signed a Memorandum of Understanding with the Far East Investment and Export Agency under the Ministry of the Russian Federation for the Development of the Far East  to cooperate with each other in the development of the Northern Sea Route and the Russian Far East. MOL has been participating in the Yamal LNG Project, which is the world first large scale energy project that exports cargoes through the Northern Sea Route, and MOL’s first ice-breaking LNG carrier for the project is slated to go into service at the end of March…

Mitsui O.S.K. Lines Signs MoU with Russian Federation

Pic: MOL

Mitsui O.S.K. Lines (MOL) signed a Memorandum of Understanding (MOU) with the Far East Investment and Export Agency (FEIA) under the Ministry of the Russian Federation for the Development of the Far East (MINVR) to cooperate with each other in the development of the Northern Sea Route and the Russian Far East. MOL has been participating in the Yamal LNG Project, which is the world first large scale energy project that exports cargoes through the Northern Sea Route, and MOL's first ice-breaking LNG carrier for the project is slated to go into service at the end of March…

European Shipowners on US Steel, Aluminium Tariffs

Martin Dorsman, Secretary General. Photo: ECSA

European shipowners disagree with the US President Trump's decision to impose additional duties on imports of certain steel and aluminium products into the United States. “This protectionist decision of imposing 25% import duties on steel and 10% on aluminium will obviously have a negative impact on transatlantic relations and on global markets”, said Martin Dorsman, ECSA’s Secretary General. “The European Shipping Community is concerned with this development and the potential of full-scale trade war.

Kalmar to Send Five RTG Cranes to DCT Gdansk Terminal

Photos by Kalmar RTG

Kalmar, part of Cargotec, has signed a deal with Deepwater Container Terminal (DCT) Gdansk to supply a total of five electrically powered rubber-tyred gantry cranes (RTGs) with extensive customisation. The order, which also includes the supply of a spare parts package for the machines, was booked in Cargotec's 2018 first quarter order intake and delivery is scheduled to take place in early 2019. DCT Gdansk is Poland's largest and fastest growing container facility, and the only deep-water terminal in the Baltic Sea region with direct ocean vessel calls from the Far East.

Buckeye, Trafigura Load Suezmax Tanker in U.S. Port

File Image: A VLCC alongside in the port of Corpus Christi, Texas (CREDIT: port of Corpus Christi)

U.S. midstream oil firm Buckeye Partners and commodities trader Trafigura said on Thursday that modifications to their terminal in Texas to accommodate large tankers were completed and the first shipment of crude on a Suezmax tanker took place. The Buckeye Texas Hub terminal located in Corpus Christi shipping channel is 80 percent owned and operated by Buckeye while Trafigura holds a 20 percent stake. "North American supplies have launched the U.S. on to the world stage as a new crude provider.

German Shipbuilding: A Strong Vessel in a Heavy Sea

Launching of the W.B.Yeats at FSG. (Photo courtesy ©FSG)

While orders for new vessels have continued to decline worldwide in 2017, the situation in the German and European shipbuilding market is different, with an increase of incoming orders. As shipping experts state: “…this is not a trend but a snapshot, but it indicates a high competitiveness of the German shipbuilding industry, particularly on technologically advanced projects.”The global mood barometer of the maritime industry had reached its lowest point in 2016. From the abyss confidence and order have carefully increased…

Trade War All About the Eastbound Transpacific -BIMCO

© vladsv / Adobe Stock

When two of the world’s top trading partners get entangled in a stand-off, where the outbreak of a trade war could become the extended tool of intense negotiations, BIMCO says we’d better prepare for what may come while hoping that it will never take place.The U.S. is China’s largest trading partner measured by value – and China is the largest one-country trading partner that the U.S. has.“The global shipping industry naturally gets concerned when two nations of huge importance to most shipping sectors get in the ring to fight a trade war – gloves off…

Maritime Reporter Magazine Cover Jul 2018 - Marine Communications Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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