HMM Acquires 20% Stake in Long Beach Terminal
South Korean shipping line Hyundai Merchant Marine Co. (HMM) said it will buy a fifth of the company that runs the biggest container terminal at Long Beach Total Terminals International terminal (TTI), Calif., the U.S.’s second-largest port. HMM announced that its board of directors decided to buy a 20-percent stake in TTI and equipment-leasing firm HTEC for a combined US$15.6 million. HMM will now become the No. 2 stakeholder in TTI after Geneva-based Mediterranean Shipping Co (MSC). TTI operates terminals at Seattle and Long Beach.
Sydney Port Tariff to Rise
A Port Tariff increase will come into effect for New South Wales ports covering Sydney (Gore Bay, Port Botany and Kurnell) from August 1, 2014, GAC reported in its daily Hot Port News report. Sydney Ports has determined that an increase in Statutory Charges of 9.64% is required for all commercial ships and related cargo arriving in the port to help cover navigation services, pilotage and site occupation for non-passenger vessels. Source: GAC
Port Gothenburg Offering LNG
Ships running on liquefied natural gas (LNG) are going to be able to bunker at the Port of Gothenburg, as new regulations for LNG bunkering have been introduced by the Gothenburg Port Authority in collaboration with the Port of Rotterdam and the Swedish Transport Agency. The regulations will allow cargo ships to bunker LNG at a cargo terminal and are the first general regulations to be introduced in Sweden. Dan-Erik Andersson, Vice President Operations at the Port of Gothenburg Energy Port, said: "We firmly believe that LNG is the marine fuel of the future.
Cargo Growth at Indian Ports Remain Sluggish
In FY14, total cargo handled at Indian ports increased by 4.3% to 976 million tonnes from 935 million tonnes during FY13. The growth was pegged down by sluggish cargo performance at the major ports which registered a meagre 1.8% growth in cargo volumes to 556 million tonnes in FY14. Non major ports on the other hand exceeded the overall growth rate by recording an 8.3% growth in throughput on a yoy basis to 420 million tonnes. While the growth was meagre, on a positive note the major ports arrested the decline in cargo volumes to register the first increase in yoy cargo throughput since FY11.
Gothenburg Port Extends Discount Period for Vessels
Gothenburg Port Authority has opted to keep the Port Tariff unchanged for the third year in succession. The charges for 2018 will thus be on the same level as 2015. Port charges are levied on all vessels that call at the Port of Gothenburg. The charges are based on vessel type and gross tonnage, and are used to finance a range of activities, including fairway maintenance, traffic information and port safety. The Port of Gothenburg has opted for the third year in succession not to increase the charges set out in the Port Tariff.
Moody's on Shanghai Port Tariff Cut
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…
Port Charges for Gothenburg Frozen
Gothenburg Port Authority has decided to leave the Port Tariff unchanged. As a result, the Port Tariff for 2016 will remain at the 2015 level. All ships calling at the Port of Gothenburg pay a port charge based on the ship's gross weight and classification. The port charge is used to finance, for example, fairway maintenance, traffic information systems and safety at the port…. Ships that demonstrate good environmental performance receive a discount on the port charge at the Port of Gothenburg.
Indian Shipping Industry Mulls Major Makeover
Captains of the shipping industry in India are pinning hopes on solid policy support in 2015 as promised by the Shipping Minister Nitin Gadkari that would transform the industry and would increase buoyancy and investment opportunities. With strong policy support by the government on the anvil, Indian shipping is pinning high hopes on buoyancy and investment opportunities in the sector. The industry observers believe that the direction and pace at which the government was moving to transform the sector could ease its life in the current challenging global market environment.
Tariffs Hiked at Rotterdam Port
The tariffs which visiting sea-going vessels pay in Rotterdam will increase by 0.5% next year. That is half of the past year’s inflation rate. This is in accordance with the three-year agreement made last year between Deltalinqs, VRC, VNPI and the Port Authority on changes to the port tariffs. At the time, the parties agreed to allow an increase in tariffs equal to half of the inflation rate, with a maximum of 1% per annum, for a period of three years. In addition, the Port Authority applies a number of targeted measures to encourage specific sectors, such as container transhipment.
Sweden: A Pioneering Nation in Green Shipping
Sweden is a role model for the global shipping community, and other countries have a great deal to learn from the work being done by the Swedish shipping industry to reduce emissions. This is one of the findings in a new report – Decarbonising Maritime Transport: The Case of Sweden – where efforts aimed at bringing about a greener shipping sector in Sweden are described as a “success story”. OECD’s International Transport Forum (ITF) published a new report – Decarbonising Maritime Transport: The Case of Sweden.