Indian Shipping Bucks Trends with Positive Growth
The Indian shipping industry is registering a positive growth amid a downward trend globally, Union Minister of State for Shipping, Pon Radhakrishnan said. “While the shipping sector is seeing a downward trend worldwide, India is registering a positive growth, and the credit for this should go to Prime Minister Narendra Modi,” he said. The Sagarmala programme launched by the Prime minister last year aims to increase the capacity of Major and Non-Major Ports to 3000 MTPA from the present 1054 MTPA, he said.
SBS Worldwide Battles Hurricane to Maintain Supply Chains
Logistics company SBS Worldwide worked tirelessly through the weekend to maintain its clients’ supply chains as the devastating hurricane Irene battered the US north east. Early on Monday morning, SBS Worldwide’s New Jersey office was “open for business as usual”, after airports and seaports were closed and road infrastructure was reduced to a honeycomb of flowing water, trees and mud as Irene hit the US east coast over the weekend. SBS Worldwide US MD Lars Kloch says preparation is key to ensuring that disruption to its clients’ supply chains is kept to a minimum at times like these.
Spending On Transport Infrastructure
Transport infrastructure is a vital social and economic asset. Its construction and maintenance absorb significant resources while decisions on infrastructure have impacts that last for decades. The report Spending on Transport Infrastructure 1995-2011: Trends, Policies, Data and a related database have been released by the International Transport Forum at the OECD. The 2013 edition of the Forum’s annual statistics update presents aggregate trends in inland transport infrastructure investment and maintenance since 1995 and provides data on road, rail, inland waterway, sea port and airport spending for the International Transport Forum member countries for the period 1995-2011. Investment as a percentage of GDP has remained at around 1% since 1995 in the OECD.
Ferries Eligible for Millions in Canadian Funding
Ferry operators across Canada applaud new changes made by the federal government that will allow infrastructure projects related to ferries to be eligible for funding under the New Building Canada Fund, according to the Canadian Ferry Operators Association (CFOA). The original eligibility criteria for the fund, established in 2014, excluded most projects related to ferries, meaning very few operators have been able to apply for infrastructure projects. The CFOA and provincial governments have worked together urging Transport Minister Marc Garneau and Infrastructure Minister Amarjeet Sohi to revise the criteria to include ferries and ferry operators.
Russia’s Novatek Sells 10% Of Yamal LNG To Chinese Fund
Russia’s second-biggest gas producer Novatek is selling a 9.9 percent stake worth an estimated US$1.4 billion in its Yamal liquefied natural gas (LNG) project to a China’s Silk Road infrastructure fund, reports Reuters. The deal, first discussed in August, was inked as part of a visit by President Vladimir Putin to Beijing to mark 70 years since the end of World War Two in Asia. Following the completion of the deal, Novatek will own 50.1% stake in Yamal LNG, Total and CNPC will hold 20% each, while SRF will have a 9.9% stake in the Arctic LNG project.
New Bridge Over Port of Malmö Gets EU Support
The EU's TEN-T Program will co-finance with over $1.24 million preparatory studies for the construction of a rail and road bridge over the Port of Malmö in Sweden. The new bridge will help to improve the cargo transfer at the port and improve the national rail capacity. The studies will prepare the construction of the bridge and the adaptation of the rail and road infrastructure at the port area. They will clarify the overall layout of the new transport network and provide detailed plans for the bridge, including an environmental and public welfare study.
Boskalis Bags Netherlands Projects of EUR 200 mi
Royal Boskalis Westminster N.V. (Boskalis) has over the last couple of weeks acquired a number of medium sized and various smaller projects in the Netherlands with a combined contract value of more than EUR 200 million. Today, Boskalis was awarded the project for the expansion and doubling of the N62 road (Tractaatweg) in the province Zeeland. Preparations are due to start in spring 2017 and the project will be completed in the spring of 2019. The project carries a contract value of approximately EUR 30 million.
Maersk Mulls Port of Tema Expansion
Maersk Group is committed to support the expansion of the Port of Tema to the tune of US $1.5 billion, says Nils Smedegaard Andersen, Chief Executive Officer of Maersk Group. Maersk will also contribute its quota in the US$6 billion oil exploration work to be undertaken by Italian firm Eni Exploration in Ghana. Nils called on the President of Ghana John Dramani Mahama to extend the group's support to expand the Port of Tema to nearly four times its existing capacity in addition to increasing current road infrastructure including the development of the motorway to a 6-lane.
CMA CGM Adds Iskenderun Call on BEX Service
The CMA CGM Group has announced that starting June 16, a call in the South Turkish port of Iskenderun will be added to the Group’s Bosphorus Express Line (BEX). The CMA CGM Group adapts its offer to its clients’ needs and introduces a unique service between Asia and Iskenderun on the market. In order to answer its clients’ needs, the CMA CGM Group adapts its BEX line, joining Asia to the East Mediterranean, by adding a call in the port of Iskenderun. The Group now offers the only direct service on the market, and the best transit times between Asia and Iskenderun.
Inchcape Expanding in Spain
Inchcape Shipping Services completes Northern Mediterranean expansion with opening in Algeciras. Inchcape Shipping Services, the world’s leading maritime services provider, has this week opened its doors in Algeciras – Spain’s busiest port. It is one of a number of new offices scheduled to be opened by ISS in 2012 and completes the company’s expansion in the Northern Mediterranean region. “The opening of the Algeciras office strengthens the company’s position in this important maritime region,” said Michael van Hemert, Senior Vice President for Europe and North Africa.
MOL-MES Joint Development Next-generation Vessel Monitoring System
Mitsui O.S.K. Lines (MOL) announced an agreement with Mitsui Engineering & Shipbuilding (MES) to jointly develop next-generation vessel monitoring and support systems for practical applications and commercialization. Based on the real time data, for example from navigation and machinery, acquired by data collecting units (products of MES), the joint development will encompass the next-generation vessel monitoring and support system, utilizing MOL's own operation experience and technologies as well as the experience of MES as a shipbuilder with the latest technologies…
Record Freight Handled by Antwerp Port
The port of Antwerp is set to achieve a freight volume of more than 200 million tonnes for the first time ever in 2015. When it comes to containers Antwerp is performing extremely well this year: with expected growth of almost 8% it will easily pass the milestone of 9 million TEU (twenty-foot equivalent units, i.e. standard containers) for the first time in its history. About half of the container volume is currently handled in the port area on the Right bank of the Scheldt, but…
Chinese, Greek Ports Teams Up to Boost Container Traffic
Piraeus Port, operator of Greece's biggest port and majority-owned by China's COSCO Shipping, has agreed to team up with the operator of Shanghai port, the world's largest container port, to promote container shipping traffic. Piraeus, COSCO Shipping and Shanghai International Port Group (SIPG) have agreed to cooperate in project planning, staff training and information exchange, Piraeus said in a statement on Monday. It said the agreement would create synergies to boost trade and create new business opportunities.
Aberdeen Harbor Expansion Gains Support
Plans by Aberdeen Harbor Board to create additional berthing facilities at Nigg Bay have received a double boost. An independent report has estimated the economic benefit of the development to the local and national economies to be nearly £1 billion per annum. This report has been published in the same month that the Scottish Government, in their National Planning Process, has named the Nigg Bay Development as one of only 14 projects that they consider to be of national importance to Scotland.
FMC, AAPA Meet
On Wednesday, April 6, 2005, the Federal Maritime Commission (FMC) held the third in a series of briefings from representatives of the shipping industry and maritime community. The briefings are intended to foster a greater awareness and understanding of the current issues and concerns affecting the various interests involved with the United States waterborne foreign commerce. The April 6th briefing was presented by the following representatives from the American Association of Port Authorities (“AAPA”): Gary LaGrange, President, Port of New Orleans and Chairman of the AAPA Board, representing the AAPA Gulf Caucus region; Richard Larrabee…
China’s One Belt, One Road: Will it Reshape Global Trade?
The future of trade in Asia could depend heavily on what becomes of China’s expansive One Belt, One Road initiative, which calls for massive investment in and development of trade routes in the region. In this episode of the McKinsey Podcast, recorded in May, McKinsey senior partners Joe Ngai and Kevin Sneader talk with Cecilia Ma Zecha about One Belt, One Road—what it really means, what it needs to become a reality, and why people should take it seriously. Cecilia Ma Zecha, an editor with McKinsey Publishing, based in Singapore: What exactly is One Belt, One Road?
Nationwide Survey Shows Need for Critical Infrastructure Investments
Majority Say U.S. National Association of Manufacturers (NAM) President and CEO Jay Timmons joined today with Building America’s Future (BAF) Co-Chair and former Pennsylvania Gov. Ed Rendell to unveil a new survey that highlights manufacturers’ concerns about America’s roads and bridges, transit and aviation systems and ports. According to the survey of more than 400 manufacturers, a majority believe American infrastructure is in fair or poor shape, while roads in particular are getting worse. There is strong agreement among participants that U.S.
SW England Gets £10-M Port Transport Boost
UK's Department of Transport informs that Transport Secretary Patrick McLoughlin has announced a £10 million package to improve sea links between Cornwall and the Isles of Scilly, upgrade roads on the island and carry out ports repairs. The new funding includes £7.3 million towards a £12.8 million scheme to improve harbour infrastructure at both St Mary’s and Penzance and £1.8 million to repair and resurface public roads on the island. "This funding will make a huge difference to the people of Scilly and also to visitors to the island, so vital to the local economy.
Indonesia Partners with China on Maritime
Indonesian President Joko “Jokowi” Widodo and Chinese President Xi Jinping pledged increased maritime cooperation during the formers visit to China. According to the statement, China and Indonesia agreed to strengthen strategy and policy communication, advance maritime infrastructure connectivity, deepen cooperation in industrial investment and major project construction, and enhance practical cooperation to develop a "maritime partnership" together. Beijing has already pledged $40 billion in funding for ports…
China's $40b Maritime Silk Road Shaping Up
China's $40 billion fund to finance its most ambitious global plan - the Silk Roads and Maritime Silk Road is moving forward steadily as its management team has taken shape. China has appointed top officials to manage the fund. A team headed by Wang Yanzhi, an official with China's foreign exchange regulator, has been formed to formally operate the fund. People's Bank of China (PBOC) assistant governor Jin Qi will be the fund's chief executive and Zhu Surong, governor of PBOC's Urumqi branch in Xinjiang, has been appointed board member of the fund.
Antwerp Joins “One Belt, One Road” Taskforce
“One Belt, One Road” is a Chinese development strategy launched at the end of 2013 that focuses on connectivity and cooperation among countries primarily in Eurasia. The strategy has two main components, namely the land-based “Silk Road Economic Belt” and the ocean-going “Maritime Silk Road.” Antwerp has a potentially very important role to play in both these routes as a major trading hub, and so the Port Authority is setting up a special taskforce for this purpose. The importance of this project for Europe can hardly be underestimated…
China Merchants, Hastings, Lease Australian Coal Port
Hastings Funds Management and China Merchants Group have won a state government auction for a 98-year lease on Australia's Port of Newcastle, the world's biggest coal export terminal, paying a higher-than-expected A$1.75 billion ($1.6 billion). An initial New South Wales state budget plan had valued the lease on the port terminal at A$700 million, but fierce competition for Australian infrastructure assets coming on to market has seen a steady rise in multiples paid. The winning bid for Newcastle port came in at 27 times earnings…
Transportation Infrastructure Bill
Senator Wyden (D-OR) introduced a bill (S. 238) to provide $50b in new transportation infrastructure funding through bonding to empower States and local governments to complete significant infrastructure projects across all modes of transportation, including roads, bridges, rail and transit systems, ports, and inland waterways, and for other purposes. (1/14/09). (Source: Holland & Knight)