Konecranes Signs First Boxhunter RTG Deal
Konecranes has announced the signing of the first Boxhunter RTG deal. The customer, CGM, located in Kamayut Township, Yangon, Myanmar, has developed an exciting new kind of business concept involving the Boxhunter. CGM is a company that has developed a new, out-of-the- box concept for goods storage, based on containers, with the potential to reach across Asia. Many small to medium-sized businesses need to store goods and equipment away from their own premises in a secure manner, such that the goods and/or equipment are easily accessible.
DP World Sings Melbourne Port Lease Deal
DP World and the Port of Melbourne Corporation have reached an agreement on a new 50-year lease, ending months of negotiation over rental increases at Australia’s biggest port. The Port of Melbourne will forego tens of millions of dollars in annual revenue after abandoning a 750 per cent rent increase for DP World Australia and accepting price rises a tiny fraction of that amount. DP World Australia, in which the Dubai-based ports operator has a 25 per cent stake, will run the West Swanson Terminal in the Port of Melbourne up to 2065…
Massive Rent Hike at Port of Melbourne
The Port of Melbourne Corporation has told DP World Australia that it wants to increase rent at the terminal by up by 800 per cent of the current amount, reports local media. It also comes as the Victorian government prepares the Port of Melbourne for sale. The move by the Victorian Government has sparked warnings of job cuts as well as economic damage to the state. The trucking industry fears it may have to carry much of the weight of the possible hefty rent hike. The port currently charges about $40 million dollars a year in rent to DP World and Asciano.
Navios Maritime Containers Acquires Boxship
Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it has acquired the Navios Felicitas, a 2010-built, 4,360 TEU containership for a purchase price of USD 11.45 million. The vessel was delivered to Navios Containers’ fleet in December 2017. Navios Containers financed the acquisition of the vessel with cash on its balance sheet and $6.0 million of bank debt under one of its existing credit facilities. Following this acquisition, Navios Containers controls 21 vessels, totaling 88,820 TEU.
Hutchison Port Q1 Profit Slumps 70%
Hutchison Port Holdings Trust (HPHT) suffered a 69.9 percent plunge in first-quarter net profit to to HK$166.9 million ($24.4 million USD) from the corresponding period a year earlier. The Hong Kong-based port operator said it was largely due to the absence of a government rent and rates refund previously received. Excluding a one-off rent and rates refund, however, net profit would be 15.7 percent lower than that of last year, said the manager of the container port business trust in a statement.
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).
Entomology for the millennium: Options for the bugs
Every company in the marine and offshore industries has at some stage been involved in a millennium bug compliance study. It is now time to admit that industry is bored with the subject. Since the problem was first mooted, its possible outcome has remained a mystery, which is the only definite aspect of the millennium bug problem. No one actually knows what will happen. One thing is certain, though, in the modern marine and offshore industry, information has become the most important business tool. How companies handle and store it for use depends on their internal structure, but it is safe to say that it will be on a computer at some stage. Lose the information, and the company will lose money rapidly while trying to recoup that information and operate effectively at the same time.
Port of Incheon Volume Crosses 3 mln TEU
The Container Handing Volume by the Republic of Korea's Port of Incheon surpassed 3 million TEU that it has processed over 1 year. Incheon Port’s 3 million TEU is a record achieved in 12 years after achieving 1 million TEU (2005) and in 4 years after achieving 2 million TEU (2013) and based on the 2016 performance, it is the best performance and accomplishment in history, putting it in 47th place out of the global container ports. Such container volume was handled with 49 sea routes.
Maersk, IBM to Launch Blockchain Joint Venture
The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy. Success of the platform, which will be made available to the ocean shipping industry around mid-2018, depends on whether Maersk and IBM can convince shippers…
Reftrade UK Invests in Rental Fleet
Reftrade UK, a specialist in the sale and lease of refrigerated containers and temperature controlled units to the offshore energy sector, said it has made a £100,000 investment in its rental fleet to aid further business growth. The company said its investment will see Reftrade UK take a market-lead as the only rental supplier of 10ft and 20ft explosion proof containers. Greg Spence, Reftrade UK managing director said, “Following extensive market research, Reftrade UK developed…
Australian Shipbuilder Gets Repreive
According to the online publication the Australian, 's largest privately owned shipbuilding business -- Adelaide Ship Construction International -- won a Supreme Court reprieve from eviction by the state government over a rent dispute, with the government claiming the company owed $127,612.65 in rent arrears. (Source: The Australian)
A Business Park Made of Shipping Containers
Container King of Dallas has recently signed a deal with local developer Ron Sturgeon to build 38 innovative, eco-friendly, state-of-the-art commercial spaces made from shipping containers. Box Office Warehouse Suites is due to open in the Alliance commercial real estate area in Texas. Sturgeon explained the process: "We sandblast them, paint them nice and pretty, bring in a professional design firm, tastefully add paneling, floors, ceilings, windows, and carpeting, and before you know it you have industrial space perfect for small businesses…
Asia-Bound VLCCs to Use Venezuela's St Eustatius Terminal
Venezuela's state-run PDVSA will use a terminal owned by U.S. firm NuStar Energy on the island of Saint Eustatius to store crude and load very large crude carriers (VLCCs) going to Asia, after deciding it will no longer rent a facility in the Bahamas, according to a PDVSA executive. PDVSA has been using the Saint Eustatius terminal in the Caribbean since March as a center to store and mix its crudes and produce exportable blends, the Venezuelan oil company confirmed after Reuters reported it this week.
WSS Liferaft Rental Catching On
Wilhelmsen Ships Service’s (WSS) liferaft rental concept, launched worldwide two years ago is thriving in the Eastern Mediterranean (including Greece, Cyprus and Lebanon) as ship owners and operators embrace the concept and the benefits of renting rather than buying liferafts. When the concept was introduced, WSS’s sales, customer service and supply teams found the Eastern Mediterranean market to be extremely positive and in the last two years, 122 local shipping companies have placed rented liferafts on more than 1 000 vessels. Nicos Shiakallis, WSS Area Director Eastern Mediterranean comments, “The growth in liferaft rental is an example of the snowball effect.
Venezuela To Load Big Tankers at St Eustatius Terminal
Venezuela's state-run PDVSA will use a terminal owned by U.S. firm NuStar Energy on the island of Saint Eustatius to store crude and load very large crude carriers (VLCCs) going to Asia, after deciding it will no longer rent a facility in the Bahamas, a PDVSA executive said on Friday. PDVSA has been using the Saint Eustatius terminal in the Caribbean since March as a center to store and mix its crudes and produce exportable blends, the Venezuelan oil company confirmed after Reuters reported it this week. The company already started receiving crude tankers at the facility going out from Venezuelan ports. "We plan to build a new terminal…
Aker Solutions to Lease 31,100 sq.m Aberdeen Office
"This move is a long-term investment for us and underlines our commitment to Aberdeen and our customers in the area," said David Currie, Aker Solutions' regional head in the UK. Aker Solutions explains that the facility is under development and will consist of three interconnected buildings in the Aberdeen International Business Park on Dyce Drive, the main route between Aberdeen's city center and international airport. The complex will total about 31,100 square meters (334,713 square feet) of office space and related facilities…
Hyundai Drive Made First Call to Hamad Port
Qatar’s Hamad Port announced the addition of a new service from South Korean shipping line Hyundai Merchant Marine (HMM) to its growing network list, QNA reported. HMM’s 365.5-metre-long ‘Hyundai Drive’ made its first call to Hamad Port, marking the official start of a new Hyundai Merchant Marine’s KME (Korea Middle East Express) service. It is the largest container vessel to make its maiden call in Qatar since the opening of Hamad Port. The vessel from Kwangyang Port in South Korea arrived at Hamad Port in the container terminal CT1.
Qatar Rents 12 LNG Tankers
Qatari Ras Laffan Liquefied Natural Gas Company (RasGas-3) on Monday signed a 20-year contract with two tankers companies to rent 12 natural gas tankers starting on 2008. The agreement was signed by Qatari Minister of Finance and Board Chairman of RasGas-3 Yousef Hussein Kamal, Deputy Board Chairman Dr. Ibrahim Al-Ibrahim, and representatives of the foreign companies. A company source said that the company will receive the ships between March and August 2008, noting that ships' capacity ranges between 210,000 and 217, 000 cubic meters of liquefied natural gas. Meanwhile, contracts to build the ships were signed between the two foreign companies and three Korean heavy industries companies of Hyundai, Samsung, and DAEWOO.
Hoover Container Solutions Announces Grand Opening
Hoover Container Solutions (Hoover), a subsidiary of Hoover Group, Inc., has announced the grand opening of its new distribution and service center in Scott, La. The opening of this facility will provide an increased ease of operation for Hoover products and services to the Gulf of Mexico and the southeastern United States. The new distribution and service center sits on nine acres and is comprised of 25,000 square feet of warehouse and 3,000 square feet of office. Overseen by Robbie Monlezun…
MOL Bulk Carrier Arrested in Shanghai
A maritime court in Shanghai has ordered the detention of a Japanese ship having ordered the ship's owner to pay delayed rent and losses to a Chinese firm deting from as long ago as 2007, according to Xinhua. The ship, named BAOSTEEL EMOTION and owned by Japanese shipping firm Mitsui O.S.K. Lines (MOL), was detained at a port in east China's Zhejiang Province. The court ruled on Dec. 7, 2007 that MOL should compensate the Chinese firm 2.9 billion Japanese Yen (28.4 million U.S. dollars), including delayed rent and operating losses.
Medina International and Subsidiaries Move
Management of Medina International Holdings, Inc. (Pink Sheets: MIHI) signed a lease to rent a manufacturing facility in the city of Corona, California. "This new larger facility will enable us to consolidate production process in one location with substantial reduction in rent compared to the Costa Mesa Facility," said Daniel Medina, President of Medina International Holdings, Inc. "The Corona facility was previously leased by a boat manufacturer, providing us with the necessity of minimal modifications of building to manufacture our watercrafts," said Madhava Rao Mankal, Chief Financial Officer of Medina International Holdings, Inc.
China Aids its Shipowners with Leasing Plan
China initiates a trial program in Shanghai designed to help the nation’s beleaguered shipowners. Under the new policy by the Ministry of Transport, ships leased by shipping companies from financing firms could be regarded as part of the owner’s own fleet upon agreement between the two sides and on condition paid rents reach certain levels. That means rented vessels could receive the same fiscal subsidies as those owned by shipping firms and be exempted from some transaction fees, according to shipping executives. "This policy is a kind of exploration," said a statement released yesterday after a meeting between the transport ministry and the Shanghai government.
ELA Offshore Develops New Type of Container
Offshore managed to deliver all required containers from scratch in only 3 months from project kick-off, including design and development up to turnkey delivery on an offshore converter station in the German North Sea. “To come up with the best suitable container type, especially for Offshore Windfarms, we sat together with our customer, DNVGL and German authorities, who are responsible for the German “Arbeitsstättenrichtlinien (ASR)”, to create a new generation of container type”, says Hans Gatzemeier, Managing Director of ELA Container Offshore GmbH.