National Development News

Ports have long been integral to Africa’s connectivity with the rest of the world. Yet over the last 15 years, a new stage in maritime infrastructure planning and development has begun. Between 2004 and 2019, over US$50 billion was spent on this infrastructure – roughly 13 times more than was spent between 1990 and 2004.Ports reflect more than simple economic imperatives. They are crucial in creating and reinforcing social, political, and cultural systems. Infrastructure can be…

China's state economic planner has approved natural gas company Hanas Group's plan to build a receiving terminal for liquefied natural gas (LNG) in the southeastern province of Fujian.The terminal will have an annual receiving capacity of 5.65 million tonnes of the super-chilled fuel, the National Development and Reform Commission (NDRC) said on Wednesday.(Reuters - Reporting by Chen Aizhu; Editing by Christian Schmollinger)

Chinese iron ore futures dived more than 8% late on Friday after the country's regulators and industry association issued warnings against recent unusual price moves of the key steelmaking ingredient.Earlier on Friday, the National Development and Reform Commission (NDRC), which is the country's state planner, said it and the market regulator would dispatch investigation teams to the commodity exchange and key ports to look into iron ore inventories and trading in the spot and futures market.The NDRC…

The U.S. government has recently announced plans to promote offshore wind, with a goal to have 30 gigawatts (GW) of offshore wind capacity installed by 2030, and a whopping 110GW of offshore wind by 2050. It has also committed to supporting the development of a sustainable local offshore wind supply chain, which is set to benefit from $136 billion expected to be spent on U.S. offshore wind development in the U.S. within this decade, as estimated by World Energy Reports. Still, it will take some time to build the local supply capacity, meaning foreign firms will benefit from the U.S.

China's state planner, the National Development and Reform Commission (NDRC), said on Monday it and the market regulator are jointly looking into the iron ore spot market and have pledged to crack down on hoarding and speculation.The move comes after NDRC said on Thursday that new rules on the management of price indexes for commodities and services will be effective Aug. 1 and will standardise price index compilation and transparency of information.During a visit to the Beijing Iron Ore Trading Center Corporation (COREX)…

China has approved a long-awaited tax waiver on exports of cleaner ship fuel, paving the way for refiners to boost output, though Beijing may initially limit shipments to focus on growing its coastal marine fuel market, state refiner officials say.Ships globally have switched to lower sulphur fuels, or use emissions-removing devices, to comply with new rules imposed by the International Maritime Organization this year.China's State Council, or cabinet, gave the go-ahead to waive taxes on the 0.5% or very low sulphur fuel oil (VLSFO)…

The International Maritime Organization (IMO), Thailand’s Ministry of Transport and the United Nations Economic and Social Commission for Asia (UNESCAP) have recently organized the second regional Knowledge Partnership Workshop in Asia in Bangkok,The workshop was designed to support maritime technical cooperation activities in the region.The workshop brought together officials from transport ministries, responsible for maritime affairs, and finance ministries, responsible for official development assistance. Participants shared knowledge, skills, and experience and meet maritime and development cooperation counterparts from around the…

Placing maritime activity at the heart of national development plans in Africa will help deliver the Sustainable Development Goals, which is a key strategic direction for IMO. A recent International Maritime Organization (IMO) P training activity in Nairobi, Kenya is helping to do just that.With 38 of 54 African countries being coastal States – and more than 90% of Africa’s imports and exports being transported by sea, Africa’s future depends on healthy oceans and a sustainable Blue Economy. This inclusive, clean and green approach to harnessing maritime resources is central to a new training course being developed in Kenya with support…

Nduna Maritime, a subsidiary of the Mnambithi Group, and the integrated chemicals and energy company Sasol have invested in South Africa's first locally-owned chemical tanker with a funding agreement made through the Sasol Siyakha Trust.The Bow Cecil is claimed to be the first South Africa flagged vessel to transport chemicals to international markets. "We are particularly proud of this landmark agreement, as it is a significant investment into localizing and diversifying our supply chain. As a global producer of a number of chemical products, we supply numerous markets around the world with products made in South Africa. Through Nduna Maritime…

Freight rates for dry-bulk and container ships, carriers of most of the world's raw materials and finished goods, have plunged over the last six months in the latest sign the global economy is slowing significantly.The Baltic Dry Index, measure of ship transport costs for materials like iron ore and coal, has fallen by 47 percent since mid-2018, when a trade dispute between the United States and China resulted in the world's two biggest economies slapping import tariffs on each other's goods.Dry-bulk commodities are taken as a leading economic indicator…

Abu Dhabi Ports on Monday inaugurated the new Cosco Shipping Container Terminal at Khalifa with a capacity of 2.5 million TEUs (twenty-foot equivalent units).The new CSP Abu Dhabi Terminal, which includes the largest container freight station in the Middle East, is expected to boost Abu Dhabi’s position as a global maritime hub and support China’s One Belt One Road initiative.CSP Abu Dhabi Terminal is the first international green-field subsidiary of Cosco Shipping Ports; water depth of the semi-automatic terminal is 16.5 metres which allow it to accommodate megavessels typically in excess of 20,000 TEU, said a stock exchange annoucement.With an annual design capacity of 2.5 million TEU…

The first regional donor/recipient workshop on maritime Technical Cooperation activities held in Seoul, the Republic of Korea (26-30 November). The workshop built on the long-term resource mobilization strategy for International Maritime Organization (IMO)'s Technical Cooperation activities, approved at the sixty-eighth session of the IMO Technical Cooperation Committee (TCC).According to a release from IMO, this strategy identified a more proactive and methodical approach with regard to generating new resources by encouraging the development of partnerships with Member States, the United Nations system and multilateral development banks…

Chinese President Xi Jinping called for achieving high-quality economic growth through developing the Yangtze River economic belt. Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks at a symposium on promoting the development of the Yangtze River economic belt in Wuhan, capital of central China's Hubei Province. He stressed the importance of enhancing reform and innovation, strategic coordination as well as planning and guiding in developing the economic belt. "It is a major decision made by the CPC Central Committee and a major strategy concerning overall national development to promote the development of the Yangtze River economic belt," Xi said.

Moody's Investors Service says that the announcement by China's National Development and Reform Commission (NDRC) of a cut in the handling tariff for import and export containers is credit negative for Shanghai International Port (Group) Co., Ltd (SIPG), but will not immediately affect SIPG's A1 issuer rating or the A2 backed senior unsecured bond ratings of Shanghai Port Group (BVI) Holding Co., Ltd. The ratings outlook remains stable. "The reduction in tariff will negatively impact SIPG's profitability and cash flow generation capability from 2018 onwards, and reduce the financial headroom for its standalone credit profile," says Osbert Tang, a Moody's Vice President and Senior Analyst, and the Local Market Analyst for SIPG.

Specialized Marine Services (SMS), a JV between the Ports Development Company (PDC), which is the private sector owner and developer of King Abdullah Port, and the National Port Services Company, delivered 1,460 maritime services  in 2016. It expects 30% increase expected by the end of 2017. SMS is the primary supplier of marine services, such as marine guidance, in King Abdullah Port. Its team includes highly qualified and skilled maritime guides with vast experience in dealing with the largest international vessels, most of which have visited the King Abdullah Port. All guides hired to work in the marine services department are ambitious Saudi youth who undergo periodic training in accordance with the highest international standards.

The Ghana Ports and Harbours Authority (GPHA) has offered a concession to  IBISTEK Limited, a Ghanaian firm towards the development and operations of a container and multi-purpose terminal at the Port of Takoradi. This is part of the Port Authority’s Master Plan and development efforts to equip the Port of Takoradi for future demands. The concession related project works and installations will be executed at a cost of $370million. The terminals, in the long term, could have the capacity of handling One Million Twenty Equivalent Unit (TEUs) containers in line with the GPHA’s projected growth for cargo through the Port of Takoradi. The concession term is 25years.

China's determination to tackle its choking pollution by cutting steel and coal capacity should be a long-term negative for exporters of iron ore and coal to the world's biggest commodity importer, but the reality is likely to be far more nuanced. "We will make our skies blue again," Premier Li Keqiang told the opening of parliament on Sunday. That's an unequivocal statement that gives political impetus to Beijing's plans to shutter more excess steel and coal capacity. The policy…

Eleven container liner transportation companies have promised to cut or standardize the Terminal Handling Charges (THC) in order to lower nearly 3.5 billion yuan burden of export enterprises each year, according to National Development and Reform Commission (NDRC). According to a report in Shanghai Daily, the shipping companies include  China COSCO Shipping Cooperation, Maersk line, Mediterranean shipping, Hapag-Lloyd AG, Evergreen Marine, Hyundai Merchant Marine, Nippon Yusen Kaisha, Mitsui OSK Lines, Sinotrans Shipping. These companies have written to the NDRC and Ministry of Transport promising in standardize THC by adjusting cost standard. Chinese trading companies "reported" the excessively high and non-transparent surcharges to the NDRC.

The Fundo Soberano de Angola (FSDEA) Angola’s sovereign wealth fund, today announced that it has committed to invest $180 million in a strategic deep sea port in Angola. The commitment is made as part of FSDEA’s $1.1 billion infrastructure fund. Commenting on the project, José Filomeno dos Santos, Chairman of the Board of Directors, FSDEA stated, “Investments in the industrial sector and infrastructure support trade in the sub-Saharan region have shown high rates of profitability and resistance to the risks associated with the countries on our continent. Allocating capital to maritime infrastructure and logistical and industrial support in Angola allows diversifying other investments in the international financial markets present in FSDEA’s portfolio.

MOL Group expanded its exploration portfolio by acquiring new licenses in Hungary and Norway. MOL acquired 6 new licences in the 4th bid round in Hungary, doubling its exploration acreage in the country. MOL Norge participated in the latest APA licensing round and acquired 4 licences in the Norwegian Continental Shelf, one of which with operatorship. These successes significantly contribute to the implementation of the MOL 2030 strategy. MOL has won 6 new licences in the fourth Hungarian hydrocarbon exploration tender and the concession contracts have been signed by the representatives of the Ministry of National Development and MOL.

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically found in the vicinity of the Singapore Botanic Gardens. Located in the upcoming Learning Forest extension, the restored 1.8 hectare forest wetland will enhance the biodiversity found there, and for the very first time, provide educational opportunities for the public to access and experience a freshwater forest wetland habitat, right in the heart of the city. Keppel Corporation has committed S$2.08 million to the Garden City Fund (GCF) to support the forest wetland restoration efforts. In recognition of Keppel Corporation's contribution, the restored freshwater forest wetland will be named the Keppel Discovery Wetlands.

Abu Dhabi Ports has signed a container terminal concession agreement with COSCO SHIPPING Ports Limited - Abu Dhabi (CSPL SPV), a wholly-owned subsidiary of container terminal operator COSCO SHIPPING Ports Limited, a subsidiary of China COSCO SHIPPING Corporation Limited. The event was held in the presence of His Excellency Dr. Sultan Ahmed Al Jaber, the UAE Minister of State and Chairman of Abu Dhabi Ports, Zheng Chiping, Deputy Director of the foreign investment department of the National Development and Reform Commission of PRC and Wan Min…

Kongsberg said it has opened its first office and warehouse facility in the Republic of South Africa on Friday, November 4, 2016. Located in Cape Town’s airport zone, the new Kongsberg Maritime South Africa facility joins the company’s global network of first party sites, consisting 64 offices located in 20 countries, employing more than 4,000 people. Kongberg's expansion in South Africa comes as the Government’s National Development Plan turns toward maritime resources as part of ‘Operation Phakisa’; a program implemented to unlock the economic potential of South Africa’s oceans.