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The Shipping Times News

22 Jan 2024

Red Sea Shipping Attacks Pressure China's Exporters

© ABCDstock / Adobe Stock

For Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian.Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe, told Reuters the cost of shipping a container to Europe had surged to roughly $7,000 from $3,000 in December, when Yemen's Iran-aligned Houthi movement escalated attacks on shipping."The disruptions have wiped out our already thin profits…

11 Dec 2023

Panama Canal Woes to Delay Grain Ships well into '24

Copyright searagen/AdobeStock

Bulk grain shippers hauling crops from the U.S. Gulf Coast export hub to Asia are sailing longer routes and paying higher freight costs to avoid vessel congestion and record-high transit fees in the drought-hit Panama Canal, traders and analysts said.The shipping snarl through one of the world's main maritime trade routes comes at the peak season for U.S. crop exports, and the higher costs are threatening to dent demand for U.S. corn and soy suppliers that have already ceded market share to Brazil in recent years.

10 Oct 2023

Israel Highlights Fragility of New Trade Corridors

© svarshik / Adobe Stock

A new and deadly chapter of the decades-old Israel-Palestinian conflict is a reality check for an ambitious trade route. The India-Middle East-Europe Economic Corridor (IMEC), championed by Washington last month on the sidelines of the G20 summit in New Delhi and dubbed a Western rival to China’s Belt and Road, had much to prove anyway. The latest conflict presses pause on any grand financial visions involving the neighbourhood.IMEC’s chief backers waxed lyrical about the potential of the trade route involving railways, ports and green energy. U.S.

05 Jun 2020

Ocean Shipping Slows Down as Pandemic Pummels Retailers

Image Credit: STOCKSTUDIO

The $1 trillion container shipping industry is in a slowdown. Literally.Some shipping lines, whose retail customers are being hammered by the coronavirus pandemic, are reducing sailing speeds and taking longer routes around Africa, avoiding Suez canal passage fees, according to the companies and ship-tracking specialists.Many are also cutting down the number of voyages and providing short-term storage for clients as the industry, which includes heavyweights like Maersk, MSC and Hapag-Lloyd…

09 Jun 2019

DP World Eyes Arctic Sea Route

Dubai-based ports operator DP World hopes to run ports that Russia plans to build along an Arctic sea route intended to shorten shipping times between east and west.The quadrilateral agreement of intent with Russian Direct Investment Fund, an investment fund of the Russian Federation, Rosatom, the infrastructure operator of the NSR and Norilsk Nickel, a world leader in the production of palladium and high-quality nickel, was signed, reported Reuters.The signed deal between the Emirati company and the Russian firms is not legally binding, according to Reuters.“This is going to change the [economic] growth for Russia,” DP World Chief Executive Sultan Ahmed bin Sulayem  said in an interview with Reuters in St. Petersburg.

19 Jul 2018

Novatek Ships First LNG Cargo to China via Arctic

Eduard Toll (File photo courtesy Teekay)

Russian natural gas producer Novatek delivered on Thursday the first ever liquefied natural gas (LNG) cargo to China via the Northern Sea Route (NSR) alongside the Arctic coast, which drastically cuts delivery time to Asian consumers.The shipments of LNG from Yamal LNG project via the NSR to China cuts transportation time and costs in comparison to other routes such as Suez Canal.Novatek said a ceremony was held to commemorate the arrival of LNG tankers Vladimir Rusanov and Eduard Toll with cargo capacity over 170…

27 Jun 2018

Russian Arctic LNG Debuts on NSR to Asia

A landmark Russian Arctic liquefied natural gas (LNG) shipment has begun its journey through the Northern Sea Route (NSR) to Asia, marking the delayed start of summer navigation as thawing sea ice clears a short-cut to the world's biggest LNG market. The $27 billion Yamal LNG plant developed by Russia's Novatek and France's Total despite U.S. sanctions started exporting in December, but cargoes ferried on ice-class LNG tankers have sailed to Europe. From there, Yamal's LNG was transferred on to standard tankers for onward shipment to Asia via the Suez Canal or else sold and used in Europe at a time when the NSR was shut. Yamal's Vladimir Rusanov tanker marks the plant's first shipment through the NSR, shipping data on Thomson Reuters Eikon shows.

17 Aug 2017

King Abdullah Port Bullish on Maritime Services

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.

14 Feb 2017

Philippines: Japan Offers Anti-Piracy Help

Japan has offered to send patrol ships to deal with a growing piracy threat in the southern Philippine waters bordering Indonesia and Malaysia, a senior Philippine defence official said on Tuesday. A surge in piracy off parts of the southern Philippines is forcing ship-owners to divert vessels through other waters, pushing up costs and shipping times. Dozens of sailors have been taken captive by Abu Sayyaf. Japanese vice minister Ro Manabe offered the assistance at a meeting in Tokyo on Friday and expressed readiness to contribute to efforts by the Philippines, Malaysia and Indonesia "in addressing piracy and terrorism", said Raymund Quilop, assistant defence minister for assessments and international affairs.

27 Oct 2015

China Mulls Routine Arctic Transits

China Ocean Shipping (Group) Company (COSCO) plans to launch regular services through the Arctic Ocean to Europe, as global warming makes the route viable and Beijing steps up its northern ambitions, says a report in AFP. Cosco’s Yong Sheng vessel completed its second round trip Arctic voyage between China and Europe in October. It sailed nearly 20,000 nautical miles during the 55-day voyage. The company managers consider the possibilities of normalizing the Arctic shipping route of Yong Sheng, which will decreased the transportation costs and will increase the speed of the loop. “The company is considering increasing the number of ships sailing via the new path,” said Cai Meijiang, general manager of the safety and technical supervision department at Cosco.

14 Oct 2015

Industry Award for APM Terminal Pipavav

APM Terminals Pipavav (Gujarat Pipavav Port), one of western India’s fastest growing gateway ports has been awarded the Inland Container Depot (ICD) Preferred Terminal of the year at the 4th edition of the Gujarat Star Awards held in Ahmedabad. The port has been given this award for two consecutive years. Last year the port was awarded “ICD preferred port of the year 2014” at the 3rd Gujarat Star Awards. APM Terminals Pipavav received this award as it has always maintained highest standards of operational performance, year-on-year growth, hi-tech facilities and customer satisfaction. Organized by Daily Shipping Times, Gujarat Star Awards has set a benchmark for recognizing excellence of companies or individuals in the maritime and logistics sector of Gujarat. The award was received by Mr.

08 Jun 2015

Kra Canal to Remain Pipe Dream

The revival of the idea of building the Kra Canal through Thailand to enable shipping to bypass the narrow Straits of Malacca has been in the news recently. The plan would be to build a 750 mile (1,200Km) canal at an estimated cost of $28 billion, which would provide greater support to current supply chain. The notion of creating a new sea lane that slashes shipping times between the Andaman Sea in the Indian Ocean and South China Sea in the Pacific Ocean has never lost its powerful magnetism. According to a report in AsiaOne, the latest chapter in the Kra Canal epic came last month when Chavalit Yongchaiyudh, a proponent of the ambitious scheme when he was prime minister in the late 1990s, reportedly signed a Thai-Chinese deal to develop this project. However, Chavalit denied it.

14 Oct 2013

U.K., Russia Enter Navigational Technology Collaboration

The General Lighthouse Authorities of the U.K. and Ireland (GLAs) are cooperating with The Internavigation Research and Technical Center in the Russian Federation to achieve compatibility in advanced navigation technologies. The common goal is to improve shipping safety across hazardous new high Arctic routes, which are playing an increasingly important role in international trade. The U.K./Russia cooperation refers specifically to the development of interoperable resilient position…

08 Aug 2012

Indian Port Claims Single Day Coal Discharge World Record

Photo credit Krishnapatnam Port

Krishnapatnam Port claims world record for discharging 122,247 MT's of coal from ship in 24 hrs using conventional cranes. The cargo was discharged from the MV Cohiba which had 161,980 MT of US Coal on account of JSW Steels Limited. The remaining 39,733 MT of coal was due to be dishcarged the following day by the saime mobile harbor cranes. The port claims this to be by far the highest amount of coal that has  ever been lifted from a vessel in any part of the world and represents a remarkable achievement considering the port’s previous record that was set a year ago (on July 23…

11 Jul 2012

New Direct Shipment Service, Miami to Cuba

Direct maritime humanitarian shipment service from the Miami River Port, USA to the Port of Havana, Cuba is now available. IPC's new "direct next day to port service" supersedes the old third country maritime shipping times to the port of Havana of 30 to 60 days and offers the optional convenience of island-wide home delivery via CubaPACK, the largest delivery service company on the island. Once in port, recipients have the option of picking up their shipments or using a one-week all-points Havana delivery service or a two-week island-wide delivery option supported by CubaPACK. As of June 18, 2012, Cuban authorities officially curtailed allotments of duty free food parcels.

08 Dec 2010

Rail-Barge Service from Eastern Shore to Resume

Governor Bob McDonnell announced today that the Bay Coast Railroad Car Barge will resume service next week as a result of a partnership between the Commonwealth, area localities, and the Bay Coast Railroad. The barge, which was removed from service last year, provides connecting service between the Virginia’s Eastern Shore and Norfolk/Virginia Beach. Last year, the Bay Coast Railroad suspended service on the barge when it identified $1 million in structural deficiencies critical to the barges safety. In order to restore service, the Commonwealth of Virginia provided a grant through the Shortline Railway Preservation Fund, which included $700,000 in state funds and a $300,000 match provided by Accomack and Northampton counties, as well as Bay Coast Railroad.

08 Aug 2010

Krishnapatnam Port Wins Award

Photo courtesy Krishnapatnam Port

Krishnapatnam Port took the top honors for the second time in a row, in the Non-Major Port category at the 2nd South East CEO Conclave & Awards 2010, organized by The Exim Shipping Times and held on 31st July 2010 at Chennai, India. Krishnapatnam Port was felicitated in this category based on the parameters of operational performance, infrastructure development & customer satisfaction. This is further proven by the 100% growth rate in volume throughput achieved by handling 16.1 Mn MT in FY 2009-10 vis-a-vis 8.1 Mn MT in FY 2008-09.

08 Sep 2009

Krishnapatnam Port Wins Award

Photo courtesy Krishnapatnam Port Company Ltd

Krishnapatnam Port of India took the top honours in the Non-Major Port category at the mega comprehensive logistics and maritime event - South East CEO Conclave & Awards 2009 held for the first time on August 28th, 2009 at the sprawling Taj Coromandel in Chennai. The spectacular event was managed and organised by Exim India Shipping Times & Fairplay Exposition Group and supported by leading trade bodies. The gala event brings together the region’s key logistics and maritime industry players who were recognized as they set benchmarks for performance excellence.

25 Apr 2007

Eitzen Orders Tankers from Jinse

Eitzen Chemical ASA has signed an agreement with Jinse Shipbuilding Co., Ltd. in Korea for two coated 13,000 dwt chemical carriers for USD 23.6 mill. per vessel. The vessels will be delivered in 2008. Furthermore, the Company has an option for two additional units. Following this order, the Company's newbuilding program consists of 35 vessels (plus two options) to be delivered before 2010. Its current owned and financially controlled fleet consists of 73 vessels, with another 14 vessels under management. Source: Shipping Times

25 Apr 2007

Meyer Werft and Disney Sign Contract for Two Ships

Disney and Meyer Werft have signed the contract for the two new cruise ships. The ship will have the yard numbers S. 687 and S. 688 and will have a tonnage of 124,000 gt. They are scheduled for delivery in 2011 and 2012. Each ship will have a length overall of 339.8 m, a breadth of 37 m, and a cabin capacity of 1,250. Source: Shipping Times

15 May 2007

VT Chairman Outlines Venture with BAE Systems

In a statement provided with the company's Preliminary Results , VT Group's chairman Michael Jeffries gave an indication of how the new shipbuilding venture between his company and BAE Systems would be structured. He said "We announced in December 2006 that we had entered into discussions with BAE Systems to combine our respective surface shipbuilding and naval support businesses, including Fleet Support Limited (FSL). The proposed consolidation is in line with the Defence Industrial Strategy and would create a world-class provider and strategic partner for the UK Government. He also confirmed VT Group's withdrawal from small commercial boatbuilding activities. Earlier the group announced that VT Halmatic would be restructured and would concentrate on the build of small military vessels.

27 Aug 2007

Stena Orders Ferries from Samsung

Stena Line has ordered two new RoPax vessels from Samsung Heavy Industries in South Korea. The vessels will be put into service in 2011 and are planned to operate the route Rotterdam-Harwich. The two new RoPax vessels will be built in South Korea by Samsung Heavy Industries. The shipyard has previously built a number of shuttle tankers and ice-class tankers for Stena Bulk. The two new RoPax vessels are sister ships to the Stena Trader and the Stena Traveller, which went into service on the North Sea earlier this year. The vessels will also be equipped with the latest energy management technology, making them as efficient as possible to run. Stena Trader and Stena Traveller were built in Norway.

12 Sep 2007

Titan Quanzhou Launches Tanker

Titan Quanzhou Shipyard Co., Ltd. announced the launch of its second vessel, Titan Spirit. The launch of this 6,500 ton double-hulled bunker tanker follows the August launch of Titan Quanzhou Shipyard’s maiden vessel. It is the second of the 22 vessels already currently on order at the shipyard, which represents a total order book of $210m. Source: Shipping Times