Panama Canal Expansion: Future Toll Structure Discussed
The Panama Canal Authority (ACP) Administrator Jorge L. Quijano has met with the Union of Greek Shipowners, the International Association of Independent Tanker Owners (INTERTANKO) and the International Association of Dry Cargo Shipowners (INTERCARGO) to discuss the waterway's toll structure when the expanded Canal opens to commercial transits. The Expansion Program will build a new lane of traffic along the waterway through the construction of a new set of locks, which will allow the transit of vessels with more tonnage capacity. Currently, the Expansion Program is 64.6% complete.
G E Shipping Sells Supramax
India’s largest private sector shipping company Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2003 built Supramax Dry Bulk Carrier Jag Rahul of about 52,364 dwt. G E Shipping said that the vessel will be delivered to the new buyer in Q4 FY 2017-18. The Company’s current fleet (including Jag Rahul) stands at 48 vessels, comprising 32 tankers (12crude carriers, 17 product tankers, 3 LPG carrier) and 16 dry bulk carriers (1 Capesize, 8 Kamsarmax, 7 Supramax) with an average age of 10.24 years aggregating 3.93 mn dwt.
Algoma, Nova Marine Form JV
Canada-based Algoma Central Corporation and Switzerland's Nova Marine Carriers SA have announced that they are exploring an expanded partnership that is expected to lead to the creation of a global company specializing in short-sea dry bulk shipping. Creation of the partnership is subject to completion of appropriate due diligence and finalization of definitive documentation. The new company, which is to be called NovaAlgoma Short-Sea Carriers, or NASC, will initially operate a fleet of approximately 70 bulker vessels with capacities up to 15,000 dwt in markets world-wide.
Algoma Signs JV with Nova Marine for Global Cement Carrier Fleet
Canada-based Algoma Central Corporation has signed a joint venture (JV) agreement with Nova Marine Holding of Luxembourg to establish a fleet of cement carriers to supply infrastructure projects across the globe. Algoma will own 50% of the joint venture, which is to be named NovaAlgoma Cement Carriers or NACC. "We are very excited about the opportunity this investment with Nova presents," said Ken Soerensen , President and CEO of Algoma. The demand for modern efficient cement carriers continues to increase globally.
Bahri Dry Bulk Secures Newbuild Finance
Bahri Dry Bulk, a business unit of global transportation and logistics leader Bahri, has announced that it has secured a Sharia-compliant funding of SAR 360 million (USD 96mln) from Bank Albilad, one of the fast-growing banks in Saudi Arabia. The fund is to finance the purchase of four new bulk carriers as part of an agreement signed by the company in 2017 with Hyundai Mipo Dockyard (HMD), a member of Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding company based in South Korea.
Imtech Renews VSAT Connectivity Contract With Algoma
Canadian shipping company Algoma Central Corporation has renewed and upgraded its VSAT Connectivity contract with technology solutions provider Imtech Marine. The agreement now provides VSAT satellite coverage and airtime Connectivity to 34 vessels which are owned or managed by Algoma. Algoma Central Corporation owns and operates the largest Canadian flag fleet of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence Waterway, including 18 self-unloading dry-bulk carriers, seven gearless dry bulk carriers and seven product tankers.
Fifth Consecutive Record Year for Antwerp
The port of Antwerp has achieved a record freight volume for the fifth straight year in a row. In 2017 the port handled 223,606,610 tonnes of freight, an increase of 4.4% compared with the previous year. Practically all sectors turned in an excellent performance: the container volume expanded in tonnage by 4.3% (123 million tonnes), liquid bulk such as oil derivatives by 5.7% (73.1 million tonnes), and conventional breakbulk such as steel by 4.8% (10.3 million tonnes), while ro/ro completed the growth list with 10.5% (5.1 million tonnes).
Shipyard Arbitration Claim Favours Algoma Central
Algoma Central Corporation (Algoma) wins in its dispute with a Chinese shipyard at a London, UK, Arbitration Tribunal. The tribunal heard the shipbuilding contract dispute involving Algoma Tankers International Inc., a wholly owned subsidiary of Algoma Central Corporation, and found in its favour. In 2007 the Corporation, through its wholly owned subsidiary, entered into contracts to build three 16,500 - deadweight ton product tankers in China. Each contract contained provisions that permitted cancellation under certain conditions. These conditions were met in 2010 and Algoma accordingly issued notices of rescission to the shipyard seeking to cancel the contracts, and demanding reimbursement of the instalments that had been advanced.
Panama Canal Authority Proposes New Pricing Structure
The Panama Canal Authority released a formal proposal to change its pricing structure to move toward a market-oriented business model that allows for greater customer service and continual improvements to the Canal. As global trade continues to expand, the shipping industry has evolved significantly and the Canal's 90-year-old pricing structure needs to be changed to meet the increasing demands of a dynamic market place. "This historic shift in our business model is the first step toward changing the long-standing, one-size-fits-all pricing structure and replace it with a system that is more tailored to individual customer needs," said Alberto Aleman Zubieta, the Canal Administrator.
Australia, Japan Enact Rules for Shipping Liquid Hydrogen
Australia and Japan signed a memorandum at the headquarters of the Australian Maritime Safety Authority (AMSA) in Canberra which will allow liquid hydrogen to be shipped in bulk for the first time. Ship containment systems are being developed in Japan that will be capable of safely transporting liquid hydrogen in bulk from Australia to Japan as part of a pilot project scheduled to commence in 2020. Bulk gas cargoes are carried under the International Code for the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk (IGC Code) which is a mandatory code under the Safety of Life at Sea (SOLAS) convention, which does not currently allow for the transportation of liquid hydrogen.
Great Eastern Shipping to Sell Large Cargo Ship
India's largest private sector shipping firm Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell a 1996-built capesize dry bulk carrier Jag Arjun by this March-end. "The vessel will be delivered to the buyers during the fourth quarter (January-March) of the current fiscal," the company said in a statement. Capesize dry bulk carriers, the largest cargo ships plying in international waters, are mainly used to transport coal, ores and other commodity material.
NTSB Issues Report on 2016 Columbia River Bulker Grounding
The National Transportation Safety Board (NTSB) issued a report on its investigation into the November 2016 grounding of the bulk carrier Nenita in the Columbia River. The Marshall Islands-flagged vessel was fully laden when it suffered an engine failure that impacted its ability to maneuver and subsequently ran aground at Three Tree Point on the Washington State side of the river. The ship’s bulbous bow and hull were damaged, but no injuries or pollution were reported. The vessel was towed to Longview, Wash.
Transnet Appoints Ngqura Liquid Bulk Terminal Operator
The Port of Ngqura is poised to play a vital role in ensuring the security of South Africa’s fuel supply, while creating a new petroleum trading hub for Southern Africa in anticipation of the relocation of existing liquid bulk facilities from Port Elizabeth. This follows the conclusion of an agreement between Transnet National Ports Authority (TNPA) and Oiltanking Grindrod Calulo (Pty) Ltd (OTGC)to plan, fund, construct, own, maintain and operate a new liquid bulk handling facility at the Port of Ngqura.
ClassNK Publishes LH2 Carrier Guidelines
Classification society ClassNK has released its Guidelines for Liquefied Hydrogen (LH2) Carriers for the safe constructions and operation of LH2 carriers based on provisions of the International Maritime Organization (IMO) Interim Recommendations. As a low carbon energy source, the use of hydrogen as a fuel is seen as a major possible solution to environmental problems caused by fuel emissions, the classification society said. As only water is discharged at the time of power generation, and can be manufactured from many different feed materials such as fossil fuel, water and others, hydrogen is a candidate for the “fuel of the future.” However…
Panama Canal Authority Holds Public Hearing
The Panama Canal Authority (ACP) held a public hearing giving Canal customers and other interested parties the opportunity to comment on the modified pricing structure proposed by the ACP in early June of this year. Nearly fifty interested persons presented comments, with many expressing their appreciation for the recent improvements in safety and efficiency of Canal operations, but also saying that the percentage increase is too high and poorly timed. Subsequent to the hearing, the ACP will study the comments, as it considers the proposed changes in rates and pricing structure. If approved, the new pricing structure is anticipated to go into effect in October, 2002. The hearing was a significant step in the consultation process initiated by the ACP several weeks ago.
Digital Naming of Stena Immortal
The digital naming of the MR tanker Stena Immortal took place January 18 at Stena's new office in Hellerup in the north of Copenhagen. The 50,000 dwt Stena Immortal was built at the Guangzhou Shipbuilding International (GSI) shipyard in southeast China and is jointly owned on a 50-50 basis by Stena Bulk and Indonesian Golden Agri Resources (GAR). Following her delivery in September 2016, the 183-meter-long tanker has sailed in one of Stena Bulk's global logistics systems, which currently employ some 60 vessels, with a focus on refined petroleum products, vegetable oils and chemicals.
JACCAR Holdings Enters Into Gas and Dry Bulk Ownership
Greenship Holdings, a fully-owned Singapore subsidiary of JACCAR Holdings, has established two separate entities to expand into ship-owning and operating activities in the gas and dry bulk sectors. Greenship Holdings is aiming to own and operate advanced, fuel-efficient and environmentally-friendly vessels. Its original commitment, totaling 30 vessels in the gas and dry bulk sectors, with a total investment of around $900 million, has a secured financing structure and will go into operation in full within the next two years. Greenship Gas, a company fully owned by Greenship Holdings, has been established with the two-fold strategy of combining effective asset management with unparalleled in-house operations.
US-flag Great Lakes Cargos Down in January
U.S.-flag Great Lakes freighters carried 2.3 million tons of dry-bulk cargo on the Great Lakes in January, a decrease of 23 percent compared to a year ago, according to figures compiled by the Lake Carriers’ Association (LCA). Iron ore cargos decreased 20 percent, while coal loadings tumbled 68 percent. Shipments of limestone, however, rose nearly 75 percent. As February begins, most lakers are in lay-up and undergoing maintenance and modernization, but one cement carrier and two liquid-bulk tug/barge units were in service as of February 1.
Advance electronic cargo information FAQ
The U.S. Customs and Border Protection (CBP) issued an updated set of Frequently Asked Questions (FAQ) relating to advance electronic cargo information requirements of the Trade Act of 2002. The FAQ update does not indicate changes made to prior editions. CBP continues to rely on the private parties to determine who is the “carrier” for purposes of reporting and bonding requirements. Guidance is provided regarding submittal of the vessel’s IMO number, offshore lightering, and manifest quantities for bulk shipments of liquid and dry cargo. Source: HK Law
Rolls-Royce Wins $42m Chinese Ship Contract
Rolls-Royce has signed its largest contract with Chinese shipbuilder Sinopacific, to provide steering gear and deck machinery worth $42m. The contract covers 34,000-118,000dwt bulk carriers and 16,500 cubic metre capacity liquid petroleum gas vessels. The first equipment will be delivered in the first half of 2009. Sinopacific ship building group comprises five shipyards and two design companies.
Fincantieri Receives AHTS Order
Fincantieri has gained an order from Hartmann Logistik GmbH to build two multipurpose Anchor Handling, Tug & Supply Vessels (AHTS) with delivery scheduled for December 2008 and February 2009, respectively, plus an option for further two. Hartmann Logistik GmbH is the Hartmann Group company active in the Offshore Industry, which is headed by Dr. Niels Hartmann, son of the founder of the Group. Founded in 1981, Hartmann Reederei is a leading global player, a first class shipping and logistic company with a fleet of over 100 vessels including container ships, gas tankers and product tankers as well as bulk carriers, multipurpose vessels and special carriers and has a substantial newbuilding program currently going on with yards in Europe and the Far East.
Panama Canal Reports Record Tonnage
The Panama Canal Authority (ACP) announced a new tonnage record, welcoming 340.8 million Panama Canal tons (PC/UMS) through the canal for the 2015 fiscal year – a 4.3 percent increase year-on-year. This year's record surpasses the previous record of 333.7 million PC/UMS tons set in FY2012, ACP said. During the fiscal year, which ran from October 1, 2014 to September 30, 2015, containerships registering the highest total tonnage, followed by dry bulk, liquid bulk and car carriers.
Salalah Port Opens New Deep-water Terminal
The Port of Salalah, a major Arab Gulf regional gateway port and transshipment hub on the Arabian Sea, has inaugurated a new deep-water General Cargo and Liquid Bulk Terminal, adding 20 million tons of dry cargo and six million tons of liquid bulk cargo annual handling capacity. The 1266 meter quay offers two 320 meter-long General Cargo berths, two 300 meter-long liquid bulk berths and a depth of 18 meters. “The new facility is able to handle a wide range of vessels, ranging from naval ships…