Yang Ming Sees Weaker Demand
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation takes a hit with a net loss of about USD 42 million for the third quarter and sees signs of "weaker demand" in the container market.Yang Ming said that according to analyst firm Alphaliner’s latest projections, annual capacity growth is forecast at 3.7% and global throughput growth for 2019 is estimated at only 2.5%, which suggests a softer market demand than was previously expected.Meanwhile, the container shipping market remains vulnerable to trade uncertainties and geopolitical tensions.
Yang Ming to Launch New ITS Service
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation said that encouraged by the steady economic growth and foreign trade in between Indonesia, Singapore, Malaysia and Thailand, it continues to enhance its Southeast Asia deployment with the new ITS service (Indonesia - Singapore/Malaysia - Thailand Service).The ITS service is set to be launched on November 12th, 2019, Yang Ming said.A total of three container ships with loadable capacity of 1,180 TEU each will be deployed for ITS service, of which one is contributed by Yang Ming.
Wärtsilä and Norsepower Sign Agreement
The technology group Wärtsilä and Norsepower, a provider of low maintenance, software operated, data verified auxiliary wind propulsion systems, have signed a service cooperation agreement. This will enable Norsepower to order service work from Wärtsilä, while Wärtsilä can pursue and sell Norsepower Rotor Sail projects with support from Norsepower. The agreement was signed in Q3 2019.With the growth of Norsepower’s manufacturing capacity and the anticipated increasing demand for its Rotor Sails…
Yang Ming Launches CVK Service
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation has announced the launch of CVK service (China-Vietnam-Cambodia Service) with effect from October 21st, 2019."We are launching the service in light of the strong cargo volumes in the area of China, Vietnam and Cambodia," said a press release.The port rotation of CVK service is Ningbo, Shanghai, Xiamen, Da Nang, Ho Chi Minh, Sihanoukville, Ho Chi Minh, Hong Kong, Ningbo.This will be Yang Ming’s first service that directly links China’s ports, Da Nang and Sihanoukville.
TS Lines Adds Pan Asia Service Loop
Taiwanese ocean carrier TS Lines (TSL) has announced the launch of the Pan Asia 1(PA1) Service that provides weekly connectively between China and Southeast Asia.The PA1 service offers one of the most comprehensive Northern China market coverage comprising seven China main ports as well as Hong Kong, Singapore and Malaysia, said a press release.The PA1 service commenced sailing from Shanghai on 30th , August with the following port rotation: Shanghai -Dalian – Xingang – Qingdao…
MacGregor Bags Cochin Shipyard Project
Cargotec's maritime cargo and load handling unit MacGregor secured a turnkey contract to deliver 4 shipsets of weather deck hydraulic operated folding hatch covers for 8000 dwt coal carriers.As per the contract, the company will design and key components, fabrication and transportation of hatch covers as well as commissioning of the complete system at Cochin shipyard Ltd (CSL), the largest shipbuilding and maintenance facility in India.The orders will be booked into Cargotec's…
Yang Ming Launches Japan-Thailand Service
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation enhances its Intra-Asia service network by launching a new Japan–Thailand service (JT1) effective from September 11th, 2019.The JT1 service will call at Shimizu, Tokyo, Yokohama, Pusan, Laem Chabang. It will directly link Laem Chabang with Japanese ports and Pusan.The new weekly service will be added to Yang Ming’s network through a space swap program with Ocean Network Express Pte. Ltd.With the launch of JT1 complementing the existing two Japan–Thailand services…
Yang Ming Reports Net Loss of $41mln in Q2
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation reported a consolidated revenues of about NTD 40.4 billion (USD 1.3 billion) for the second quarter of 2019, up 20.24% compared to the same period of prior year.Business volumes increased by 5% year-on-year to 1.35 million TEUs. Net loss for second quarter of the year was NTD 1.27 billion (USD 40.99 million).Meanwhile, Yang Ming’s consolidated revenues for the first half of 2019 rose by 16.77% compared with the same period in the previous year to NTD 75.48 billion (USD 2.44 billion)…
ONE Launches India-Europe Direct Service
Ocean Network Express (ONE) announced the launch of a new direct service, the Indian Ocean Service 3 (IO3), which covers South East India, Mediterranean, and North Europe.The new product will offer new port coverage and boost reliability to a wider range of direct port call options to ONE’s valued customers, the Japanese container shipping company said in a press release.It will also further expand ONE’s already comprehensive service offerings and allow its clients to enjoy greater choice while bringing efficiency and additional values to the supply chain…
Hyundai Global Service, Intellian Partner
Intellian signed a strategic partnership with Hyundai Global Service (HGS), a subsidiary of the shipbuilding company Hyundai Heavy Industries (HHI) group, on July 15 at Centum Science Park in Busan, Korea.As the first step of the cooperation, both companies will expand HGS’ innovative ‘Integrated Smart Ship (ISS)’ solution; a digital ecosystem for vessel and fleet management, incorporating a data analysis platform. This solution supports optimal vessel operation and management and is expected to reduce fuel costs by over 6% per year.
Yang Ming Enhances Network
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation has announced new China-Thailand direct service and Thailand - Indonesia express service.Under the impact of rising global trade tensions, a relocation and adjustment of cargo flow and supply chains is expected. To cope with this trend, Yang Ming Marine Transport Corp. continuously strengthens its Asian service network as well as the quality of Asian routes.Yang Ming has announced the launch of a new Intra-Asia service, China-Thailand Service (CTX service).
Inmarsat, Space Norway to Launch Arctic Satellites
Inmarsat will introduce two new satellite payloads dedicated to the Arctic region in a partnership with Space Norway, and its subsidiary Space Norway HEOSAT.The new Global Xpress (GX) payloads support the rapidly growing demand among both commercial and government users for seamless, reliable, high-speed mobile broadband services in the Arctic and throughout the world. They specifically address rising demand for high-speed mobile broadband Fleet Xpress service capability from the merchant shipping…
PPG Wins 5-year Contract from MSC
The global supplier of paints and coatings PPG Industries has been awarded a five-year, $78 million contract by the US Navy Military Sealift Command (MSC) to provide coatings, solvents and technical services to MSC’s fleet of approximately 125 ships.PPG’s global supply and service network will ensure the availability and delivery of a range of coatings and services to Military Sealift Command drydocking facilities around the world, said a press release.Products will include: the PPG PSX brand of polysiloxane coatings…
INSIGHTS: Joel Reid, Global Sales Director, COX Powertrain
Joel Reid joined Cox Powertrain in April 2015. He holds an EMBA in Business from the University of Chicago, a Master’s Degree in Marine Surveying and a Bachelor’s degree in Business Administration. Reid has been instrumental in bringing Cox’s ground-breaking 300hp diesel outboard to market and has worked tirelessly over the last three years to create an enviable global distributor network. Reid is currently focuses his efforts on sales, distribution and support in the US market, which it is predicted to account for approximately 50% of Cox’s diesel outboard sales globally.
Aalborg Boiler Solutions Celebrate 100 Years
As Alfa Laval Aalborg boiler solutions celebrate 100 years in the marine industry, Alfa Laval is delivering multi-fuel Aalborg boiler solutions and helping customers prepare existing boiler systems for tomorrow’s fuel scenarios.A century ago, when the first marine boiler left the Aalborg Shipyard in Aalborg, Denmark, there were no regulations governing fuel content or vessel emissions.Much has changed in this regard since 1919, and the industry now faces further sharp demands from the 2020 global sulphur cap.
ZIM Expands Refrigerated Container Fleet
The Israel-headquartered container carrier Zim Integrated Shipping Services (ZIM) is expanding its ZIMonitor containers fleet in 2019 and adding advanced “Star Cool” containers manufactured by Maersk Container Industry (MCI).MCI informed that it has secured an order of 500 Star Cool Integrated Reefers from ZIM Integrated Shipping Services, establishing a strong relationship with the customer.For decades, ZIM has been offering advanced transport of fruit, meat, medicines, and other frozen or refrigerated cargo to its customers.
EemsWerken Concludes Radio Holland Contract
Dutch shipping company Eemswerken (Werkendam) has concluded its service contracts with Radio Holland Netherlands, covering its entire fleet of cargo vessels.Radio Holland Netherlands was founded in 1916 by a number of leading Dutch shipping companies with the purpose of installing, maintaining and operating maritime radio stations.The service contracts include the SOLAS annual surveys, special regional service rates and on-demand services of the Navigation and Communication equipment on board, around the world.
Yang Ming Establishes Indonesia Subsidiary
Taiwanese shipping company Yang Ming Marine Transport Corp. will form a new subsidiary with partners in Jakarta Indonesia named PT Yang Ming Shipping Indonesia Today (16th May 2019).PT Yang Ming Shipping Indonesia will have branch offices at Surabaya, Panjang, and Palembang. The company has nominated Benson Chou as President Director for the first term."Prompted by the rapid economic growth in Southeast Asia, global carriers begin to strengthen their regional services to meet the growing market demand.
HMM, FESCO Expand Cooperation
South Korean major Hyundai Merchant Marine (HMM) unveiled its plans to expand cooperation with Russian container line FESCO on their China Russia North Service (CRN).HMM has been jointly operating a China-Korea-Russia weekly service, under the name of ‘CRN’ with FESCO and CMA CGM.With the expansion of cooperation, the current CRN will be reorganized and two of new direct services connecting Korea and Russia, named 'KR2 (Korea Russia Service 2)' and 'KRS (Korea Russia Service)', will be introduced in the service network of HMM.HMM deploys one vessel (1,000 TEU) on the KR2 which directly connect
Liebherr Turnover Tops $11 Billion
The Liebherr Group notched up a company record turnover of $11.8 million in 2018, representing an increase of $828 million, or 7.5 %, compared with the previous year.Despite a slight decline in overall economic growth, revenues from construction machinery and mining equipment rose by 10.8 % to $7,761 million, with especially strong contributions from the Earthmoving, Mobile Cranes and Mining divisions. In the other product areas, which include Maritime Cranes, Aerospace and Transportation Systems…
ONE Announces New Global Network
The global container shipping company Ocean Network Express (ONE) has recently announced the new global container service network for 2019.The Japanese container shipping company that is headquartered in Singapore said in a press release that the 2019 ONE network design will provide a comprehensive range of stable and reliable containership services, covering a broad range of ports in over 100 countries.Network innovations have been deployed to enable ONE to better service the…
Wärtsilä solution for Tokyo LNG Tanker Co.
Wärtsilä signed a long-term Wärtsilä Optimized maintenance solution with Japan's Tokyo LNG Tanker Co. Ltd, a subsidiary of Tokyo Gas. The solution is designed to support the customer in a range of maintenance needs for three LNG carriers powered by Wärtsilä 50DF dual-fuel engines. The solution, the first of its kind between Wärtsilä and a fully owned Japanese marine customer, covers scheduled maintenance as well as dynamic maintenance planning inspections and spare parts. The optimized…
Corvus Energy Acquires Grenland Energy
Corvus Energy Holding, the Energy Storage Systems (ESS) supplier to the maritime industry, has signed an agreement to acquire all shares in the Norway-based Grenland Energy, which develops and manufactures lightweight lithium-ion batteries for the maritime, offshore and subsea industry.“The market for battery storage is increasing rapidly. It is the perfect time to combine resources, competencies, and technologies with an optimized global footprint. We are eager to join forces with innovative companies such as Grenland Energy to offer extended and more specialized solutions and services…