Far East News

14 Jun 2019

Maersk Explores Arctic Shipping Route with Russia

© Artem / Adobe Stock

Shipping group A.P. Moller-Maersk said on Friday it is in talks with Russia's state-owned icebreaker operator to send more goods via the Arctic, which is becoming more accessible as climate change reduces the sea ice.Russia has made developing the so-called northern sea route (NSR) - which requires new ports and heavy icebreakers to move goods - a priority, with supporters dubbing the route the northern Suez Canal.Last summer, Maersk carried out what it said was a one-off trial…

12 Jun 2019

Sines Port Delegation Visits Yantian Port

Pic: Ports of Sines and the Algarve Authority, S. A.

The Port of Sines, a first largest artificial port of Portugal and a deep water port, has received a delegation from the Yantian Port, accompanied by the Embassy of the People’s Republic of China in Lisbon.Aiming at discussing cooperation possibilities between the two ports, the delegation was particularly interested in the logistic potential of the Sines complex, highlighting the capacity to attract new investments, not only within the port jurisdiction area, but also at ZILS…

11 Jun 2019

Sovcomflot Selects Orange for Maritime VSAT

Pic: Orange Business Services

Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot has chosen Orange Business Services to deploy an advanced Maritime VSAT solution on eight vessels.According to a press release from the the business services arm of Orange S.A., this initial rollout will keep the ships connected even when operating on the high seas, improving safety and optimizing navigation in challenging conditions.In addition, this solution will make it easier for crews to stay in touch with friends and family…

09 Jun 2019

Sibur and Sinopec Link on Amur JV

Pic: Sibur

Russian petrochemicals giant Sibur has signed several agreements with Chinese state-owned conglomerate China Petroleum & Chemical Corporation (Sinopec).One deal relates to Sinopec’s potential participation in Sibur’s previously announced Amur Gas Chemicals Complex (AGCC) in Russia’s Far East.Sinopec, Chinese oil and gas enterprise based in Beijing,  which bought a 10% stake in Sibur in December 2015, is expected to take a 40% share in the joint venture, subject to a final investment decision in the project…

09 Jun 2019

DP World Eyes Arctic Sea Route

Pic: DP World

Dubai-based ports operator DP World hopes to run ports that Russia plans to build along an Arctic sea route intended to shorten shipping times between east and west.The quadrilateral agreement of intent with Russian Direct Investment Fund, an investment fund of the Russian Federation, Rosatom, the infrastructure operator of the NSR and Norilsk Nickel, a world leader in the production of palladium and high-quality nickel, was signed, reported Reuters.The signed deal between the Emirati company and the Russian firms is not legally binding…

03 Jun 2019

Chinese VP Visits Hamburg Terminal

Photo: Hafen Hamburg Marketing e.V.

China’s Vice President Wang Qishan visited the HHLA Container Terminal Tollerort (CTT) at the Port of Hamburg.Wang was greeted by the Chairwoman of the Executive Board of Hamburger Hafen und Logistik AG (HHLA), Angela Titzrath, Hamburg’s First Mayor, Dr Peter Tschentscher, and representatives of the Chinese container shipping company Cosco Shipping Lines. Wang headed a 40-strong party of high-ranking Chinese government officials, and the terminal operator said the visit emphasizes…

28 May 2019

Seaborne Box Trade to Remain Flat: MPC

Image: MPC Container Ships ASA

Growth in global seaborne box trade is expected to remain largely constant in 2019, with Non-Mainlane trade being an important driver while Mainlane trades expected to expand only moderately, said Norway-based MPC Container Ships ASA.In particular, the pace of global manufacturing remains a cause for concern as growth rates in Europe and Asia have been disappointing, the owner and operator of container ships said in a stock exchange annoucement.Present year container trade is estimated to grow by about 3.6%…

24 May 2019

U.S. LPG Gas Exports Up in Q1

Image: Dorian LPG

North American liquefied petroleum gas  (LPG) export capacity is forecast to grow considerably over the next two years, said Dorian LPG.According to the LPG shipping company, bolstered by additional volumes out of Marcus Hook in the northeast U.S. due to the startup of the Mariner East 2 pipeline, U.S. exports reached their highest levels for the first calendar quarter of 2019 in January with over 3 million metric tons of LPG exported during the month.However, significant reductions in U.S.

22 May 2019

Marine Fuel: World First for Megaboxer MV Sajir

The 15,000 TEU megaboxer MV SAJIR to be converted to methane for operation (©Hapag-Lloyd)

"With the conversion of SAJIR, we are the first shipping company worldwide to convert a container vessel of this size to natural gas propulsion."  Richard von Berlepsch, Managing Director Fleet Management at Hapag-LloydIn its more than 170 years of existence, the Hamburg-based Hapag Lloyd  has used all kinds of solid and liquid fuels to generate energy for the propulsion of its ships. And now the shipping company has announced that it intends to convert the propulsion system of its 15…

20 May 2019

Damen Completes 'Methane Princess' Repairs

Pic: Damen Shipyards

France-based Damen Shiprepair Brest (DSBr), which focuses on the ship repair and conversion of seagoing and offshore vessels, successfully carried out repairs to the hull of the 266-metre, 138,000m³, LNG Carrier LNG Methane Princess.In order to achieve this in the minimum time it was done while the vessel was both afloat and with the cargo tanks holding either some liquefied gas and gas vapour.The damage, which occurred above the waterline on the aft starboard side, was the result of a collision with a harbor tug while berthing at the Punta Europa LNG Terminal (EG LNG) in Equatorial Guinea.

19 May 2019

VLGC Freight Rates Recover

Pic: BW LPG

The Very Large Gas Carrier (VLGC) freight rates started to recover towards the end of the first quarter as U.S. consumption reverted to seasonally lower levels pushing U.S. LPG prices down, widening the geographical LPG price arbitrage between the U.S. and the Far East.According to BW LPG, the owner and operator of liquid petroleum gas (LPG) vessels,  the recovery in VLGC freight rates was further strengthened by two occasions of fog and a temporary closure of the Houston Ship…

16 May 2019

Largest Boxship Ever Transits Panama Canal

Photo courtesy of ACP

Today, the Panama Canal completed a trial transit of Evergreen’s Triton, the largest vessel in dimension and container cargo capacity to pass through the Expanded Canal since it opened in June 2016.The Neopanamax containership Triton, which has a Total TEU Allowance (TTA) of 15,313, a 20-row beam of 51.2 meters and a length of 369 meters, transited northbound from the Pacific to the Atlantic Ocean.Similar to the milestone Q-Flex transit completed on May 12, today’s achievement was made possible by an increase to the maximum allowable beam for vessels transiting the Neopanamax Locks.

16 May 2019

Triton Makes Record Transit Through Panama

Evergreen's Triton Transiting the Expanded Canal on May 15. Photo: Panama Canal Authority

The Panama Canal completed a trial transit of Evergreen’s Triton, the largest vessel in dimension and container cargo capacity to pass through the Expanded Canal since it opened in June 2016.The Neopanamax containership Triton, which has a Total TEU Allowance (TTA) of 15,313, a 20-row beam of 51.2 meters and a length of 369 meters, transited northbound from the Pacific to the Atlantic Ocean.“We are excited about the opportunities enabled by the Triton’s trial transit,” said Panama Canal Administrator Jorge L.

10 May 2019

LNG Shipping Demand Flat in Q1 209

Pic: Awilco LNG Group

Global liquefied natural gas (LNG)  shipping demand in Q1 209 was essentially flat compared to Q1 2018 and coupled with a 10 % growth in the fleet since Q1 2018 rates suffered, said Awilco LNG Group.A relatively warm winter in the Far East and high storage levels in China and South Korea resulted in muted gas buying interest in the quarter and the downward gas price pressure seen in Q4 2018 continued throughout Q1 2019, said the Norwegian owner of LNG carriers.Due to weak demand and ample cargo availability Asian LNG futures prices for Q2 2019 delivery continued falling until early April…

09 May 2019

Ocean Alliance Maiden call at Hamburg Port

Image: Hafen Hamburg Marketing

The first container-ship in the new Asia service Loop 7 - the Taurus,  14.424 TEU, belonging to the Ocean Alliance - has berthed in the Port of Hamburg.Port of Hamburg said that this service is part of the new Day 3 Product, with which the Alliance consisting of CMA CGM, Cosco, Evergreen and OOCL is entering its third year.With DAY 3, the Ocean Alliance has 330 containerships in 38 services, increasing its transport capacity to 3.8 million TEU. With Loop 7, six out of seven Ocean…

02 May 2019

Container Freight Rates Fall: Xeneta

Patrik Berglund. Photo: Xeneta

After two months of steady increases in long-term contracted rates for containership operators, the latest XSI Public Indices report from Xeneta shows a reversal of fortunes, with rates falling by 4.2%.According to the report’s crowd-sourced data - covering over 160,000 port-to-port pairings, with 110 million data points – all major trading corridors saw month-on-month declines, plunging the indices to its lowest level since June 2018.However, unfortunately for those on the asset owner and operator side…

25 Apr 2019

FESCO Optimizes the Rotation

Pic: FESCO Transportation Group

Russian shipping company FESCO Transportation Group announced that as part of the development of FESCO Fast Forward services it is optimizing the rotation and changing the names of regular shipping lines from China and the Republic of Korea to Russia.Transportation services between China and Russia will be carried out under the brand FESCO China Express, and between the Republic of Korea and Russia - under the brand FESCO Korea Express.FESCO China Express will operate on two routes…

25 Apr 2019

HullWiper in Hull Cleaning Pact with Equinor

Pic: HullWiper Ltd

Vessel hull cleaning specialist HullWiper has signed a hull cleaning frame agreement with Equinor ASA for its fleet of oil and gas tankers operating in Scandinavia, Far East, Middle East and Europe.HullWiper is a global service provider of cost-efficient, safe and eco-friendly hull cleaning solutions which boost vessel efficiency and fuel savings to reduce CO2 emissions, whilst protecting vessel hull coatings and the delicate marine ecosystem.Its Remotely Operated Vehicle (ROV) system uses adjustable seawater jets under variable pressure to remove fouling…

11 Apr 2019

Maryland Act Boosts Offshore Wind Market

Image: Orsted

Maryland state lawmakers have passed the Clean Energy Jobs Act (CEJA) of 2019, which would incentivize the development of 1.2 GW of additional offshore wind energy off the coast of Maryland.US Wind Country Manager Salvo Vitale testified last month before the Senate Finance Committee and House Economic Matters Committee urging passage of the legislation while citing the significant economic benefits that the legislation would make possible by incentivizing the development of 1…

28 Mar 2019

Container Rates Alert: Box Industry Builds

File Image: Marad

Small yet significant rises in European import and export activity, combined with increased Far East imports and continued growth in US exports has fuelled a moderate improvement in long-term global container rates in March. The trend, identified in the latest XSI Public Indices report from Xeneta, builds on the positive rates development recorded last month, which effectively halted a decline underway since August 2018.Oslo-based Xeneta, a leading ocean freight rate benchmarking and market analytics platform…

28 Mar 2019

Alaskaborg Completes Special Voyage

Image: Wagenborg

Netherlands-based maritime transport solutions provider Royal Wagenborg said that its vessel m.v. Alaskaborg completed a special voyage from the Baltic to the Far East.The 15,750 DWT geared vessel from the Wagenborg fleet combined a bulk cargo and project cargo in both box-shaped holds. With this voyage, the m.v. Alaskaborg again demonstrates the flexibility and possibilities of the Wagenborg fleet.First in Tornio, Finland, the ice-classed Alaskaborg loaded 13.000 tonnes of ferrochrome.

26 Mar 2019

Can the Cruise Shipping Boom Continue?

MSC Cruises, the industry’s largest privately owned company, is in the midst of a $13 billion expansion which will bring its fleet, following the delivery of MSC Meraviglia in 2017, to 25 vessels by the mid 2020’s. Still on order are four Meraviglia class ships. Photo: MSC

As the global cruise industry enjoys it most robust period of growth ever, the question invariably becomes: How long can it last?Cruising, which is a blend of the hospitality and maritime businesses, continues to grow at a historic pace. The Cruise Trends & Industry Outlook publication from Cruise Lines International Association (CLIA) projects a passenger count of 30 million in 2019 – up nearly 2 million from the previous year. By year end 2019 CLIA members – a veritable ‘who’s who’ of the largest brands – will have 272 vessels…

10 Mar 2019

Russian Share of European Gas Growing

Graphics: Rystad Energy

With gas supplies growing at a faster rate than domestic demand, Russia can increase pipeline and liquefied natural gas (LNG) exports to Europe, said a report.Russia’s gas production has been steadily increasing since the low of 611 Bcm in 2015, and reached 695 Bcm in 2018, according to a report form Rystad Energy, an independent energy research and business intelligence companyMature fields exhibit relatively high decline rates, but volumes from the recent start-ups and discoveries in Yamal, East Siberia and the Far East are expected to offset the decline.

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