Handysize 38kt Time Charter Average FFA is 'Perfect Timing'
Forward freight agreement (FFA) trades for a basket of 38,000-dwt handysize time charter rates will help operators take longer-term cover with less risk, says shipbroker Simpson Spence Young.Following an ever-strengthening charter market, SGX have confirmed a launch date for the new offering as April 19, 2021, with EEX aiming for early May pending regulatory approval. Both exchanges are keen to promote clearing of the new contract.The handysize futures market was previously based on the Baltic Exchange's old 28…
Port of Baltimore Bests Its Container Moves Record
The Helen Delich Bentley Port of Baltimore reports it has again topped its record for most container moves from a single ship.The 6,000 container moves conducted by longshore workers from the Maersk Edinburgh at the Seagirt Marine Terminal this week are the most ever in the port's the 315-year history. Maersk Edinburgh arrived at the port on Monday, February 8, and left early Thursday, February 11. The final container move was completed at 9:40 p.m. Wednesday.The new high mark—which counts the number of times an imported container is unloaded from a ship…
Swire Shipping Deploys MV Lae Chief on (NAX) Service
Swire Shipping deployed its first 2,750TEU newbuild, MV Lae Chief, on its upgraded North Asia Express (NAX) service. Launching the new fixed-day fortnightly service with her maiden voyage, the vessel made her first port call in Shanghai on November 5, 2020.The new 2,750-TEU vessel is fitted with three 45mt cranes capable of dual lifts enabling it to carry all cargo types, including breakbulk, out of gauge and reefers. With strengthened tank tops to 20 t/m², MV Lae Chief is capable of carrying breakbulk such as steel and forest products…
Interview: William Doyle, Incoming Head of the Port of Baltimore
William P. Doyle is the incoming Executive Director of the Maryland Port Administration. A former U.S. Federal Maritime Commissioner, Doyle currently serves as CEO & Executive Director of the Dredging Contractors of America – and the group's member companies have recently made a series of announcements to build new dredges of several types and sizes. We caught up with the incoming Port of Baltimore head to discuss his initial goals for the new role. How do you feel about being selected the head of MPA and Executive Director of the Port of Baltimore?I feel terrific.
UPM to Charter 7 LNG-fueled Newbuilds
Helsinki-headquartered UPM Logistics says that it has entered into a long-term charter agreement with the Finnish Bore Ltd and the Dutch Wijnne Barends, both affiliates of the Dutch Spliethoff Group.Together, the companies will design and build seven state-of-the-art vessels for sustainable sea transportation for UPM in Europe.“This arrangement is a consistent step in UPM’s logistics strategy. It will safeguard a sustainable, competitive and reliable shipping solution for our businesses and customers on long term,” said Lauri Rikala, Director, Global Break Bulk Shipping, UPM Logistics.Bore Ltd will build three (3) RoLo vessels for transporting…
Port of Vancouver Sets Records
The Vancouver Fraser Port Authority, the largest port in Canada and the largest in the Pacific Northwest, has recorded new mid-year record for container volumes.Between January 1 and June 30, 2019, overall cargo through the port increased 0.5% to a record 72.5 million metric tonnes (MMT) over the same time last year, with new mid-year records in containers, potash, grain and cruise passengers.“This year’s record mid-year cargo volumes reflect what continues to be two of the Port of Vancouver’s greatest strengths—its broad global reach and ability to accommodate the most diversified range of cargo of any port in North America,” said Robin Silvester…
Samskip Appoints Laaksonen as Group CEO
Samskip, a European multimodal service provider group, appointed Kari-Pekka Laaksonen as the Group Chief Executive.Laaksonen, who takes up his post at Samskip’s Rotterdam headquarters on August 1st, 2019, is the former CEO of Samskip competitor Containerships, where he led the Finnish group’s aggressive growth from 2012. He also brings significant experience from the shipper perspective, having occupied progressively senior logistics roles in the chemicals, forest products and automotive sectors.
RTG Cranes Roll at Port of Indiana-Burns Harbor
For the first time in its nearly 50-year history, Port of Indiana-Burns Harbor welcomed general cargo vessel HC Melina carrying a unique shipment of two, large rubber-tire gantry (RTG) cranes destined for the CSX Intermodal Terminals’ facility in Chicago.Once the 68-piece shipment is fully assembled, the RTG cranes will have a span of eight containers wide and with a hoisting height of one over four containers high. The high-performance equipment will replace two older units at the CSX Intermodal Terminals’ Bedford Park facility…
Peel Ports Expands London Medway
Peel Ports, Britain's second largest group of ports, has expanded its proposition at London Medway with a GBP5.5million investment to replace the Royal Bridge Pontoon.The upgrade work includes a new 12m wide, 45m across ramp, which will allow larger stern ramp RoRo vessels to berth at the port and increase the overall capacity for throughput.It comes as new opportunities in the unaccompanied freight and automotive sectors brings new customers to the port, with the facilities able to support a higher volume of larger vessels.The forestry industry, which along with automotive, forms the core business of London Medway, has also brought opportunities for growth…
Labor Spat at Vancouver Ends as Deal Reached
Longshore workers at Canada's biggest port, the Port of Vancouver, were locked out on Thursday in a labor dispute over technology changes, temporarily grinding most shipping there to a halt. The lockout ended in a deal on Thursday with their employer after a few hours, the workers' union said.A tentative agreement on a new contract was reached with the BC Maritime Employers Association, the International Longshore and Warehouse Union Canada said in a statement. Jim Thompson, a spokesman for the International Longshore and Warehouse Union Canada…
Uncertainty Mounts in Dry Bulk Shipping
Uncertainty mounts in dry bulk shipping against a backdrop of weaker growth in Chinese imports, said BIMCO."The extent of the freight rate recovery in 2018 was limited – when compared with initial expectations – by a faster-growing fleet. Q4-2018 wasn’t as strong as it often is either, but we now know that was merely the beginning of a sharp downturn. On top of that, in the first month of 2019, leading the way even further down was a massive lack of cargoes. By early February, the industry appeared to be paddling in quicksand," the report said.The November dip in Capesize freight rates was just an ill omen of what was to come. For the whole of January…
Burns Harbor Extends Key Partnership
The Port of Indiana Burns-Harbor has extended its partnership with its longtime stevedore and marine terminal operating company, Federal Marine Terminals.A press note from the Ports of Indiana, a statewide port authority operating three ports on the Ohio River and Lake Michigan, said that the deal will run through at least 2023."FMT has been a vital collaborator with the Port of Indiana-Burns Harbor since 1999," said Port Director Ian Hirt, "and this consolidated operating agreement underscores FMT's commitment to the greater northwest Indiana and Chicago markets."FMT has been handling cargoes in the Great Lakes and St. Lawrence River and along the East and Gulf coasts since 1960.
Gothenburg-Belgium RORO Traffic Goes Up
Ro/Ro traffic between Sweden and the continent are increasing, as volumes between Gothenburg and Belgium have risen for the ninth consecutive year. During this period volumes between Belgium during have doubled, and the number of departures has risen from 12 to 16.Shipping companies are also in the process of expanding their networks from Gothenburg across large parts of Europe – often via the Belgian ports in Ghent and Zeebrugge, which act as hubs for intra-European ro-ro traffic.During 2017, 254,000 ro-ro units were shipped between Gothenburg and Belgium, and the forecast for 2018 reveals a 10 per cent increase to almost 280,000 units.
Port of Bellingham Announces Shipping Terminal Contract
International cargo vessels are expected to arrive at the Bellingham Shipping Terminal on a regular basis as the result of a new service contract between the Port of Bellingham and Ports America.Ports America entered negotiations with the port after several of its shipping customers requested use of the Bellingham Shipping Terminal. Ports America is the largest terminal operator and stevedore in the United States.“This is a major turning point for the Bellingham Shipping Terminal,” said Port Commission President Ken Bell. “As the last Pacific Northwest seaport between the United States and Canada, it was only a matter of time before cargo operators recognized the Bellingham Shipping Terminal as a congestion-free alternative to the docks and terminals serving Vancouver and Seattle.
Port of Gothenburg Container Volumes up by 19% H1 2018
During the first six months of this year, container volumes at the Port of Gothenburg rose by 19 per cent, from 318,000 to 378,000 TEUs.The number of cars and intra-European ro-ro units shipped increased by ten and four per cent respectively, whilst the energy segment fell by three per cent. The figures are taken from the Port of Gothenburg’s recently published mid-year volume report.The vast majority of Swedish foreign trade takes place by sea. In the case of trade with countries outside Europe, it is most common for freight to be transported by container ship.During the first six months of the year, 378,000 TEUs (Twenty-Foot Equivalent Units) were shipped, up 19 per cent on the corresponding period in 2017.
Hapag-Lloyd's First-Ever Call at Prince Rupert
Hapag-Lloyd, the market leader in Canada, is expanding its local network. On April 21, the “YM Masculinity” called at a new destination, the Port of Prince Rupert, for the first time. The ship, which operates on the ‘PS8’ service of THE Alliance, was sailing from Asia to North America offering leading transit times and new options for customers. “With the decision to incorporate Prince Rupert into our network, we strengthen and further expand our position in Canada,” explained Uffe Ostergaard, President of Hapag-Lloyd America. “Prince Rupert is the closest major North American port to Asia with direct access to CN’s Class 1 continental rail network. In this way, we can offer our customers additional options for their transports.
Georgia Ports' Box Volume Jumps 14%
The Georgia Ports Authority achieved 14 percent growth in March container volumes, moving 355,208 Twenty-foot Equivalent Unit containers. For the fiscal year to date (July-March), TEU container trade grew by 9 percent, or 255,786 additional units for a total of 3.08 million, a new record for Savannah. "Savannah's continued strength is a reflection of our customers' commitment, Georgia's leadership, and the many dedicated service providers, GPA employees and ILA members who come together every day to achieve great things," said GPA Executive Director Griff Lynch. "March marked our 17th consecutive month of business expansion thanks, in part…
Chinese Dry Bulk Import Up 20% in February
Chinese seaborne dry bulk import totaled 124Mt in February, up a massive 20% compared to the same month last year when adjusted for the extra day in February last year, says Klaveness dry bulk research report. YTD import is up 17% compared to the same period last year. The import of the top 4 commodities (Iron Ore, Thermal & Coking coal and Soybeans) increased with 19% YoY (+13.3Mt). YTD imports are up 19% compared to the same period last year. Excluding those 4 commodities from the figures, imports in February were up 27% YoY (+5.1Mt). YTD imports of these commodities are up 13% from the same period last year. Klaveness Research said that in nominal terms the largest growth YTD is in iron ore (+18Mt), followed by Thermal coal (+9.5Mt), soybeans (+2.9Mt) and Coking coal (+1.9Mt).
Alabama Port Signs Agreement with Cuba
The Alabama State Port Authority has announced a new memorandum of understanding with the National Port Administration of Cuba, potentially laying the groundwork for future trade deals. The five-year, cooperative agreement was signed at the Tampa Marriott Waterside Hotel in Tampa, Florida. Memorandum of Understanding (MOU) between the Port of Mobile and the Cuban ports marks the first ports agreement signed on U.S. soil since 1959. James K. Lyons, chief executive officer of the Alabama State Port Authority and Rene Rolando Fernandez de Lara Cabezas, director of Inland Waterway and Sea Transport, of the Republic of Cuba Ministry of Transportation…
Wagenborg's Acquired Vessels Undergoing Paint Job
Ziltborg and Zaanborg, the third and the fourth of seven general cargo vessels acquired by Dutch shipowner and operator Royal Wagenborg earlier this year, are currently undergoing a paint job at Royal Niestern Sander shipyard in the Netherlands. "Today, Royal Wagenborg acquired m.v. Vliediep as the forth out of seven vessels. Earlier the m.v. Zijlborg, m.v. Leuveborg and m.s. Ziltborg were already added to the Wagenborg fleet. In the coming months the “Lingediep”, “Loodiep” and “Loenerdiep” will also be obtained and given a ‘borg-name’," says a statement from the company. Renamed ‘Zaanborg’ this vessel is currently undergoing a paint job, providing her with the Wagenborg colours at shipyard Royal Niestern Sander. Equipped with ice class 1A and two box-shaped holds of 39.0 and 42.8 m, m.v.
Chilean Wood Products Export to Shrink in 2016
Chilean forestry exports will total $5.3 billion by value in 2016, 3 percent less than last year, as supply has increased and the economies of key export markets remain sluggish, an industry body said on Tuesday. The Chilean Wood Corporation (Corma) said in a statement that exports in 2017 would remain steady or rise slightly to the $5.3 billion to $5.4 billion range. "The 3 percent fall in the total amount is due principally to declines in international prices for the principal forest products, while there has been an increase in exported volumes," Corma President Fernando Raga said in a statement. Corma predicted prices for long fiber products would begin to rise in the second half of 2017.
World's Largest Single-deck Log Ship Calls Tacoma
The world’s largest single-deck bulk/log carrier, Olive Bay, arrived Thursday at The Northwest Seaport Alliance’s West Hylebos log terminal in Tacoma. The terminal, operated by Seattle-based Merrill & Ring Forest Products, welcomed Pacific Basin Shipping’s Olive Bay, the largest ship in the Chinese log business to call the West Coast. Built in 2015 specifically to carry logs, the ship is 190 meters long and 32 meters wide. It can hold up to 8 million board-feet of logs, which is significantly more than the 5 million-board-foot capacity of most log ships to call Tacoma.
Seattle and Tacoma Report Strong October Box Volumes
The ports of Seattle and Tacoma reported October full load import and export volumes that were the strongest for the month since 2012. Year to date, imports and exports for October continue to support a strong peak season for the Northwest Seaport Alliance (NWSA), with an 11 percent increase and 16 percent increase, respectively. To support this peak shipping season’s strong agricultural exports, the NWSA has lengthened the extended gates program through December 2. The main commodities moving through our gateway are hay, forest products, and fruits and vegetables.