Protest Holding Back Cargo from Buenaventura Port
A protest by residents in the Colombian Pacific port city of Buenaventura has prevented the shipment of hundreds of thousands of tonnes of cargo, the government said on Wednesday, adding that officials are negotiating with community leaders. Residents are demanding more funding for the violent and poverty-stricken city, which has about 415,000 residents, many of whom lack basics like running water. The week-long protest has blocked roads, preventing the arrival of coffee and other goods to ports, and sparking looting at supermarkets last weekend.
NorSea, Kongsberg Establish Digital Collaboration
A new company set up by NorSea Group to simplify logistics through digital technology, NSG Digital, has established a collaborative agreement with the Kongsberg Group. The two are now moving the development and deployment of their new product, NSG E2E, to Kongsberg’s application platform Kognifai. With its new product, NSG Digital aims to simplify and enhance visibility and information sharing in supply chains. Through digital collaboration NSG E2E (End-to-End) will make cargo logistics more efficient and transparent.
Denmark Paving Way for Digitalization
The Danish Maritime Authority (DMA) has launched pilot project to examine the value of blockchain technology. When they want to register ships today, shipowners are still required to fill in and handle documents manually. With the goal of helping to promote digitalization in Blue Denmark, DMA has launched a pilot project to shed light on the long-term possibilities of digitalizing the entire ship registration process. “The Maritime Strategy Team has recommended full digitalization of, inter alia, the Register of Shipping.
Commodity Traders, Banks Face Hard Realities with Blockchain
Alistair Cross was flying high after showing in a pilot project how blockchain - the technology first developed for the crypto-currency bitcoin - could transform the old-fashioned and secretive world of commodity trading. But since the pilot ran early this year, Cross and his rivals have hit some hard realities as they try to propel their industry into the digital age at last. Word spread fast through the business when Mercuria, the Swiss-based commodities house where Cross is head of operations, successfully tested an oil trade.
MOL Rolls Out Refined PBCF
Mitsui O.S.K. Lines has announced that its group company MOL Techno-Trade will start selling an upgraded version of its energy-saving Propeller Boss Cap Fins (PBCF). MOL Techno-Trade has sold more than 3,100 PBCFs to ship owners all over the world. The new type of PBCF was jointly developed by MOL, Akishima Laboratories (Mitsui Zosen), and MOL Techno-Trade. The new design enhances propeller thrust and reduces torque thanks to refinements in fin shape and height. Tests of the new…
The Time to Digitize is Now -INTTRA
In a new whitepaper -- Blueprint 2032: How Technology Transforms Ocean Container Shipping - INTTRA, the ocean container shipping industry's largest neutral electronic transaction platform, reports that the pace of technology innovation is accelerating as businesses seek new and more efficient ways to optimize. "Digitization is now a competitive necessity," said John Fay, CEO of INTTRA. "We've reached a tipping point in the global shipping industry when information technology is now the primary means for CEOs and their companies to achieve and increase long-term profitability.
Port Manatee, Guatemala Seek to Grow Trade
Port Manatee and Guatemala are seeking to build upon their relationship in the wake of a visit from a Guatemalan trade commissioner. “Port Manatee is already an important hub for Guatemalan imports and exports, and we see substantial prospects for growth in this relationship,” Dunia Miranda-Mauri, Guatemala’s Miami-based trade commissioner, said Thursday [May 18]. Already ranked among Port Manatee’s top five trade partners, Guatemala exports fresh bananas, pineapples, melons and plantains…
Container Security Devices: The Time Is Now
A look at international trade and cargo security provides a short primer on how to reduce unnecessary costs. The global market is unbelievable in size and scope, and it is expanding with global demand for goods and the growing adoption of offshore-sourcing by major U.S. and EU corporations, creating increasing demand for cargo transport in unprecedented volumes. More than 16 million maritime containers are in transit throughout the world on any given day – at sea, on rail and/or over the road.
Sen. Reed Honored for Maritime Industry Support
The Daniel K. Inouye Institute honored U.S. Senator Jack Reed of Rhode Island on Wednesday, May 17 for his long-standing support of the American maritime industry. Joined by dozens of maritime and Senate leaders, Sen. Reed received the Daniel K. Inouye Maritime Guardian Award for his strong leadership and dedication to the U.S. maritime industry. Irene Hirano Inouye, widow of Sen. Inouye, presented the award to Sen. Reed, whose coastal state of Rhode Island ranks 4th per capita among all U.S. states for American maritime jobs. Sen.
NYK Introduces New Navigation Support Tool
Nippon Yusen Kabushiki Kaisha (NYK), the Monohakobi Technology Institute and Japan Radio have jointly developed a support tool that enables officers to better manage and share navigational information. The tool will be sold by JRC under the name “J-Marine NeCST”. The International Maritime Organization (IMO) has made ECDIS (Electronic Chart Display and Information System) mandatory by 2018 on international voyages by passenger vessels over 500 gross tonnage (GT) and cargo vessels over 3,000 GT.
Maersk Fluid Technology Sees SEA-Mate Order Influx
Maersk Fluid Technology (MFT) has reported a recent influx of orders for its SEA-Mate Blending-on-Board (BOB) system as confirmation of industry demand for technological solutions that enable ship operators to blend fit-for-purpose cylinder lubricant compositions on board their vessels that match actual engine operating conditions and fuel sulphur levels. The use of this type of technology can reduce cylinder oil consumption and alleviate issues such as cold corrosion and excessive cylinder wear, according to MFT.
New BLOK System Aims to Slash Empty Container Costs
A new system which treats lifting four or six empty containers as a single block using the same principles as the lifting of a six pack of beer cans has been developed to save the industry billions of dollars while also improving safety for terminals and shipping lines. The shipping container has revolutionized international freight transport and continues to account for a greater share of cargo moves every year but the handling of empty containers is a continuing problem. Repositioning…
e-Navigation Concepts Demonstrated in Singapore
The SESAME Straits project utilizes e-Navigation concepts to reduce maritime traffic congestion and hot spots, as well as improve traffic safety and efficiency. Leading up to the recent Singapore Maritime Technology Conference, the project conducted a successful demonstration in close collaboration with Maritime and Port Authority in Singapore. The SESAME Straits project (Secure, Efficient, and Safe maritime traffic Management in the Straits of Malacca and Singapore) is a 3-year joint Singapore and Norway project…
GHU: Fast ROI for Existing Bunker Port Installations
Genoil Inc, (GNOLF), the publicly traded clean technology engineering company for the petroleum industries, has announced compelling economics for the Genoil Hydroconversion Upgrader (GHU), for installations where there is existing infrastructure. The GHU can be built alongside existing refinery infrastructure in major bunkering hubs rather than incurring the costs to develop and build all new infrastructure. The GHU unit costs between $30 million and $80 million to install per one million tons per year of capacity.
Shell to Continue Philippine Mariner Training
Shell Marine has renewed its technical partnership for a further four years with the University of Cebu - Maritime Education and Training Center (UC METC). At the signing of the new Memorandum of Understanding (MoU) were Shell Marine Executive Director Jan Toschka, University of Cebu President Atty. Augusto W. Go. Shell Marine will provide expertise in lubrication technology to the students and lecturers of the UC METC. A technical team from Shell Marine will provide training and knowledge modules through workshops and seminars at the UC METC.
Gulftainer Wins Logistics Industry Honors for TOS
Gulftainer, privately owned independent terminal operating and logistics company whose global divisions include GT USA in North America, has won an industry award for its Marine and Container Handling (MACH) Terminal Operating System (TOS). Gulftainer received the ‘Technology Implementation of the Year’ honor at the Logistics Middle East Awards 2017 for the company’s implementation of the terminal operating system, which marks a technology milestone for Gulftainer and the industry at large.
Elbit Bags Order to Supply Equipment to Brazil Marine Corps
Elbit Systems announced that it won a $40 million contract from the Brazilian Marines to supply advanced systems for computerization, electronic warfare, radio, and communications. The contract will be performed over a two-year period. The contract calls for the supply of cutting-edge technologies and operational capabilities, including a variety of Battle Management Systems (BMS) applications, C4I systems for artillery, latest generation of Soldier C4I suit as well as advanced EW capabilities.
Abu Dhabi Ports Seeks Korean Investment
Abu Dhabi Ports the master developer, operator and manager of commercial and community ports in UAE, as well as Khalifa Industrial Zone, in conjunction with Abu Dhabi and the Korean Chambers of Commerce and Industry, have hosted an investment forum for the Korean market, in Seoul. Held at the headquarters of the Korean Chamber of Commerce and Industry, the forum objective was to highlight and explore promising industrial, trade and investment opportunities by introducing the Khalifa Port Free Trade Zone, recently labeled as the largest free zone in the Middle East, to the Korean market.
Who Works the Rivers: Inland Waterways Career Fair
Employers in the river sector and prospective employees will have a unique opportunity to network with each other on May 24 thanks to a partnership between RiverWorks Discovery and the Inland Marine Expo. RiverWorks Discovery will host the Who Works the Rivers career fair from 10 a.m.-2 p.m. on Wednesday, May 24, at IMX 2017, in the Dome at America’s Center in St. Louis. Who Works the Rivers educates prospective employees on skilled labor jobs available to them in the maritime industry, from nonprofit to military.
Flexport & the Changing Face of Shipping Logistics
Ryan Petersen and his Flexport team are seeking the help re-write the global logistics playbook. Ryan Petersen is the founder and CEO of Flexport. He is also the founder and ex-CEO of ImportGenius.com, the largest provider of business intelligence to the import-export industry. Armed with an MBA from Columbia and a B.A. in Economics from UC Berkeley, he is also a licensed customs broker and freight forwarder, with his built company squarely around an online dashboard backed by leading venture capital firms like Founders Fund, Google Ventures and Bloomberg BETA.
London Eyes Top Maritime Center Slot
London has risen from sixth place overall in 2015 to fifth place this year the world’s top maritime centre in Menon Economics’ Leading Maritime Capitals of the World report for 2017 – despite the uncertainty of Brexit. UK Chamber of Shipping says that none of the other maritime cities in the top five – Singapore, Hamburg, Oslo and Shanghai – have had to deal with such a massive economic spanner being thrown in their works. And still London has strengthened its global standing.
Disruption 'Powered by Transas'
Maritime Logistics Professional caught up with Frank Coles, the ubiquitous leader of Transas, fresh from his company’s user’s conference in Malta. In typical candor, Coles paints his picture of maritime and shipping’s future. With a captive audience of more than 400 clients in scenic Malta for several days earlier this year, one might be surprised when Frank Coles admits that the meeting was not all about Transas. “I wanted something completely different. I didn’t want to talk about Transas; I wanted to talk about the industry and what we can learn from aviation.
General Dynamics Wins DLA Enterprise IT Contract
Company will deliver IT support services to the military, civilian agencies and foreign countries. General Dynamics Information Technology, a business unit of General Dynamics, was awarded a contract to support the Defense Logistics Agency’s J6 Enterprise Technology Services program. The multiple award, indefinite delivery, indefinite quantity contract has a ceiling value of approximately $6 billion for a five-year base period with three option years. General Dynamics will provide network and telecommunications…
Bill Aims to Aid US Maritime Workforce Development
Reps. New legislation introduced his week intends to advance the capabilities of two-year community and technical colleges to assist the federal government and industry in securing the talent pipeline for domestic maritime industry jobs. “In our district, we have a surplus of maritime jobs and not enough people with the skills and training to fill them,” said Representatives Gene Green (D-Texas), who introduced the bill with Rob Wittman (R-Va.). “The industry is continuing to invest and grow along the Port of Houston…
Maersk Line Deploys First Second-gen Triple-E
Four years after the arrival of the first Triple-E vessel, Maersk Line has now deployed Madrid Maersk, the first of its second-generation Triple-E containerships. With nearly 2,000 more TEU capacity than the prior generation Triple Es, the 20,568 TEU (nominal capacity) Madrid Maersk has set sail on Maersk Line’s Asia – Europe service network, calling the Port of Tianjin in China on April 27 as its first port on its maiden voyage. Madrid Maersk is the first to enter service of the 27 new vessels ordered by Maersk Line in 2015.
New Sensors Monitor Temp of Dangerous Goods
Nexiot AG is customizing its zero-maintenance smart sensor system for Bertschi Group’s tank containers, to monitor the temperature of dangerous goods and help ensure safe delivery of consignments. The data is then sent to a control system, enabling Bertschi Group to monitor the temperature of the product in the tank, as well as the steam pipes which are used to heat the cargo, in real time. Nexiot’s smart sensors harvest energy from the environment, which makes them self-sustaining, and enables them to update the control system with messages down to every five minutes.
International Maritime University Pacts with Latin America
The International Maritime Organization (IMO) has announced that International Maritime University of Panama (UMIP) has been selected to host the regional Maritime Technology Cooperation Centre (MTCC) for the Latin America region, under an ambitious project, funded by the European Union (EU) and implemented by IMO, to help mitigate the harmful effects of climate change. Under the Global MTTC Network (GMN) project, UMIP will host MTCC-Latin America. The selection of UMIP followed a competitive international tendering process. UMIP joins MTCCs in Africa, Asia and the Caribbean.
MPA Honors ABS
ABS has been awarded the Offshore & Marine Engineering Award by the Maritime and Port Authority of Singapore (MPA). This award recognizes organizations that have made significant contributions toward the development of Singapore’s offshore and marine engineering sector. “ABS is honored to receive this award recognizing our leading role in Singapore’s marine and offshore industries,” says ABS Chairman, President and CEO Christopher J. Wiernicki. The MPA award recognizes ABS for its breakthrough work in the areas of innovation…
Singapore Ranked World's Top Maritime Capital
Singapore has once again emerged in top place in a ranking Menon’s Leading Maritime Capitals of the World Report (Menon Report) for 2017. The study, by Norwegian consultancy firm Menon Economics, looked at 24 objective indicators and garnered survey responses from more than 250 industry experts across all continents. Singapore was also ranked first in the report's 2015 and 2012 surveys. Singapore was ranked number one in the following three categories: Shipping, Ports and Logistics, and Attractiveness and Competitiveness.
Chinese University Implements Navis Training Software
China's Wuhan University of Technology (WUT) has partnered with Navis to implement the MACS3 ship loading computer and the Navis StowMan stowage planning program as educational software. In the future, prospective nautical officers will learn loading and unloading operations for container ships and bulk carriers in the segment of 76,000 dwt to 300,000 dwt (very large ore carrier), with on-board planning support provided by the MACS3 stability program from Navis. In addition, students will use the shore-side stowage planning software…
DP Conference: Call for Papers
As the offshore oil and gas industry continues to rebound, so will the demand for dynamic positioning technology and services. The annual Dynamic Positioning Conference provides an annual forum for discussion and for exchange of knowledge, experience, new technology and technical know-how associated with the use, evolving technology and application of dynamic positioning. Each year, the conference continues to attract DP professionals from around the world as well as DP manufacturers and service companies who will be exhibiting their products and services.
Senate Panel OKs Lighthizer for US Trade Rep
The Senate Finance Committee on Tuesday approved President Donald Trump's choice for U.S. Trade Representative, bringing Robert Lighthizer a step closer to taking office as U.S. trade disputes with Canada and Mexico heat up. The panel also voted to approve a legal waiver for Lighthizer from a 1995 law that prohibits people who did work on behalf of foreign governments from serving as the top U.S. trade negotiator. Lighthizer did work on behalf of the Brazilian agriculture agency in the late 1980s and assisted a colleague with work for a Chinese electronics industry group in 1991.
British Prime Minister Visits Kelvin Hughes
Maritime navigation, situational awareness and security radar systems company Kelvin Hughes last Thursday welcomed the Prime Minister Theresa May, to its Enfield head office, design and manufacturing facility. During an election campaign visit in North London, the Prime Minister was accompanied on a full tour of the Kelvin Hughes facility with the senior management team where she was able to see stealth design pulse Doppler radars in the final stages of assembly. The Prime Minister…
Washington Maritime Economy Grows Stronger -Study
A new report from the Washington Maritime Federation shows strong health of industry, increased average salaries and tremendous opportunity to continue to grow maritime jobs. The Washington State Maritime Sector Economic Impact Study 2017 Update, released at the April 2017 Propeller Club luncheon, updates the seminal 2013 study of the same name and provides a detailed analysis of the positive economic impact of the state’s maritime industry. “This study builds upon past efforts and clearly shows the maritime industry is a cornerstone of the State’s economy…
Newark Container Terminal Handles Record Volumes
Port Newark Container Terminal (PNCT) handled a record number of container volumes without disruption to its customers following its January 2017 upgrade to the N4 terminal system. The move to Navis N4 is part of PNCT’s $500 million infrastructure modernization project that is expected to nearly double the terminal’s capacity by 2019. Located within the Port of New York and New Jersey—the largest port on the East Coast and third largest in the U.S.—PNCT is among the most important terminals responsible for moving cargo throughout the nation and abroad, handling 1.3 million TEUs annually.
Why Attend the Ferry Safety & Technology Conference?
The Worldwide Ferry Safety Association (WFSA) will host its upcoming Ferry Safety and Technology Conference May 11 and 12 in downtown New York. Besides the awards to winners of the Ferry Design Competition, there are many reasons to attend the conference. Below are a dozen. 1 - Learn about innovative new ferry systems in Africa, Asia and North America – ferry systems from which we can learn and that will need safety, communications, IT, training – equipment and services. 2- Listen to ferry operators from Bangkok, Manila and Abidjan as they speak about their challenges and successes.
OPTECH South 2017: Littoral Challenges in Colombia
Naval experts from around the world are meeting in Cartagena, Colombia, for the Operations and Technology (OPTECH) South 2017 conference. The event is being conducted by the U.S. Naval Postgraduate School’s (NPS) Littoral Operations Center (LOC), supported by the Office of Naval Research-Global and the Colombian Naval Science and Technology Office and Swedish defense company Saab. The littoral is the complex “near shore” environment where hydrography, geography, commerce, fishing…
New Venture Aims to Uproot Shipping’s Status Quo
With a belief that innovation in shipping has fallen well behind other sectors, new entrant into the maritime industry Nisomar has launched a range of services for ship owners, operators, brokers, charterers and financial institutions. Nisomar said it has pioneered a method of collecting global shipping data and created proprietary technology, based upon technology that generates highly accurate business-critical data. The firm will derive insights from big data to offer analytics that support business decisions…
DynaCERT Secures CE Certification for Hydragen Technology
dynaCERT Inc. has received CE certification for its HydraGEN technology. Specifically, the models HG1 (Class 6-8 trucks), HG2 (Class 2-5 trucks, refrigerated trailers and shipping containers) and HG3 (diesel-powered ocean ships, locomotives and stationary generators) will all now carry the CE mark for shipments to clients within Europe. This signifies that products sold in the European Economic Area (EEA) have been assessed to meet high safety, health, and environmental protection requirements. This also applies to products made in other countries that are sold in the EEA.
NileDutch selects ClearMetal predictive platform
Ocean Carrier Nile Dutch will use ClearMetal's machine-learning approach to fleet and container utilization improvement. ClearMetal is a predictive logistics company that uses AI and machine learning to unlock new efficiencies for global trade. "Managing fleet and container utilization against a backdrop of fluctuating demand in today's highly complex market can be challenging," said Mark Kraaijenbrink, Director Information and Communications Technology for Nile Dutch. "We are…
High-tech VTS System to Guide Iron Ore Giants
One of Australia’s most important economic gateways will soon house a state-of-the-art shipping management control system to be installed at Port Hedland, the world’s largest bulk export port. The system includes a command and control system integrated with advanced radar, long-range closed circuit TV and voice radio technology to safely manage and guide thousands of ship movements in and out of the tidally constrained port with pinpoint precision. The Vessel Traffic Service (VTS)…
German, Russian Groups Partner on Port Digitization
In early April, during the traditional German week in St. Petersburg, a workshop was run with the accent on ‘Digitalization in the port sector and logistics’. It was co-organized by Port of Hamburg Marketing (HHM), the German-Russian chamber of commerce and the German business Eastern-Europe association. The event also provided a suitable backdrop signing a partnersship and cooperation agreement between Port of Hamburg Marketing and the Admiral Makarov State University for Sea and Inland Waterway Shipping. The ports in Hamburg and St. Petersburg both lie very close to the cities.
Corvus to Deliver Battery Solutions to Chinese Ports
Corvus Energy has announced that it will provide Orca Energy lithium-ion energy storage systems (ESS) for four hybrid rubber-tired gantry cranes (RTGs) for CCCC Shanghai Equipment Engineering (CCCCSEE). The RTGs are the first of many cranes at the Chinese Port of Changshu to undergo a diesel to battery hybrid conversion using a Corvus Orca ESS. Corvus Energy will supply its latest generation ESS, Orca Energy, for the retrofit of four RTGs that will be converted to battery hybrid-electric cranes by integrator CCCCSEE.
Georgia Ports Authority Reports Record Growth
The Georgia Ports Authority experienced strong growth in containerized, auto and breakbulk trade in March. The Port of Savannah moved 311,770 twenty-foot equivalent units last month, an increase of 5.6 percent or 16,621 TEUs. Total tonnage across all terminals increased 9.8 percent (258,627 tons), moving 2.89 million tons for the busiest March ever in the Authority's history. "Strong demand from retail and manufacturing customers -- both in the U.S. and abroad -- is driving growth in Savannah and Brunswick," said GPA Executive Director Griff Lynch.
NYK Promotes Its First Woman Captain
On April 1, a deck officer named Tomoko Konishi became the first woman in NYK’s 132-year history to be promoted to the rank of captain. Konishi joined NYK in 2004 after she graduated from the National Institute of Technology, Toba College in Mie prefecture. Since then, she has worked aboard containerships, pure car and truck carriers, and LNG carriers, among others, as a pioneering female officer. She has been active in a number of fields and has also used her onboard experiences in office work.
Sovcomflot Pushes for LNG-fuelled Vessels
SCF Group's Sovcomflot sees bright future for LNG-fuelled vessels in the tanker industry. "LNG is a promising fuel for large-capacity vessels, which will significantly increase their environmental compatibility and efficiency," says the company. As the world’s leader in the Aframax tanker segment, Sovcomflot is pioneering the conversion of this class of vessel to LNG as a fuel. SCF Group signed a bunkering agreement with Shell for the supply of gas engine fuel for SCF’s Aframax tankers that are specially designed to run on LNG.
Connecting Ships, Ports and People
The theme for World Maritime Day 2017 "Connecting ships, ports and people", provides an opportunity to highlight the value of integration in the maritime and logistics sectors. The theme has particular resonance for International Maritime Organization (IMO)'s Facilitation Committee, which is meeting (4-7 April) at IMO Headquarters. The Committee will discuss matters relating to the Facilitation Convention (FAL), which supports international maritime traffic by providing a set of consistent, uniform regulations to facilitate the free flow of commerce.
MHI Pact for Domestic Shipbuilders on Forming Alliances
Mitsubishi Heavy Industries (MHI) has reached basic agreements with Imabari Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. in the wake of ongoing discussions focused on forming alliances in the commercial ship business. Discussions toward concluding a similar alliance with Oshima Shipbuilding continue. The agreements are targeted at achieving sustained growth through the pursuit of mutually complementary, synergy-generating alliances while respecting each partner’s independence, in an overall effort to strengthen the competitiveness of all alliance partners in the global marketplace.
Box Trade Growth Expected in 2017
International trade is expected to grow for the U.S. Containerized imports from Asia will increase by a healthy 6.9 percent in 2017, according to panelist Mario Moreno, Senior Economist with IHS Maritime & Trade. He expects U.S. container exports to Asia to climb a modest 1.3 percent. He also predicted that the overall U.S. economy will rise by an estimated 2.3 percent. More than 500 people attended the forecast event at the Long Beach Convention Center. The Port of Long Beach hosts the event each year to bring together industry experts to offer insight into trends in global shipping…
ABS' Wiernicki Receives Vanderbilt Alumni Award
ABS Chairman, President and CEO Christopher J. Wiernicki has been inducted to the Vanderbilt University School of Engineering Academy of Distinguished Alumni and also named to the Vanderbilt University School of Engineering’s Board of Visitors. Prior to receiving the Distinguished Alumni Award, Wiernicki served as the keynote speaker to discuss the absolute value of talent through the emerging needs in tomorrow’s workplaces while addressing fellow alumni and friends of the university at a Commodore Classroom event held Tuesday, March 28, in Houston.
Simulation: Maritime Professional Training
In South Florida sits MPT, one of the most prolific and progressive maritime training facilities. Already fully stocked, MPT added significant weight to its offering in 2016 with investment in 25,000 sq. ft. of new training space and technology. MPT handles more than 12,000 students a year from all segments of the maritime industry and from more than a dozen countries. With that range MPT has students from ship operators, tug companies, passenger vessels, offshore and energy exploration companies…
Freightos Raises $25 Mln Extension Funding
Freightos, a logistics technology company bringing freight online, has announced the completion of a $25 million Series B extension round, led by GE Ventures, with participation by additional investors that bring the company’s total funding to $50 million. The funds will be used to scale the Freightos Marketplace globally while continuing development of Freightos’ software suite of global freight pricing, routing, and sales automation. Since its July 2016 launch, the Freightos Marketplace has grown exponentially…
World's Largest Containership Delivered
The world's largest containership, MOL Triumph, was delivered to Mitsui O.S.K. Lines (MOL) from Samsung Heavy Industries on March 27, 2017. MOL's newest vessel, the first of a fleet of six 20,000 TEU-class containerships for the company, was named MOL Triumph in a ceremony at SHI in South Korea on March 15, 2017. At 400 meters in length and 58.8 meters in width, MOL Triumph is currently the world's largest containership. With a capacity of 20,170 TEU, the vessel is the first 20,000 TEU-class containership deployed in THE Alliance's Asia to Europe trade via the FE2 service.
Simulation: The Centre for Marine Simulation
St. CMS operates a range of marine simulation equipment that covers a broad range of marine and offshore activities. Much of the equipment is highly specialized and unique including fully motion capable simulators. The center also provides technical management and support of simulation equipment that is used by other parts of the Marine Institute. CMS simulation activities can be divided into three main areas; Training, Industrial Response, and Applied Research. To support these…
A.P. Moller-Maersk Elects New Chairman to Steer Digital Transformation
A.P. Moller-Maersk's new chairman committed to automating its systems as the oil and shipping group steps up its drive to become more efficient and save costs at a time of low oil prices and declining freight rates. The more than 100-year-old conglomerate's digital push will mean that in theory, it should be as easy to book a container as booking an airline ticket, Chairman Jim Hagemann Snabe told Reuters shortly after he was elected. "We transport goods in the physical world and that won't change as we won't start beaming things around the world…
Cybercrime at Sea: Prevention Is Better Than Cure
David Thompson, Investigator at UKP&I Club’s Signum Services consultancy arm at UK P&I Club, highlights the importance of cyber security at sea. While the use of computerized systems for everything from navigation to container inspection has enhanced the safety and security of vessels at sea, it has also created a new type of threat to the shipping industry – cybercrime. The risks around cyber security and insurers’ exposure to these risks are a concern for the industry and regulators alike.
Antwerp Focuses on India, China and Eastern Europe
Malini Dutt, Robert Feng and Martin Hubenack have recently been appointed to represent the port of Antwerp in India, China and Eastern Europe respectively. This brings the number of port representatives to 12, reinforcing Antwerp's presence in its core hinterland and important overseas growth regions. The task of these representatives is to keep Antwerp "top of mind" with local companies, ports, chambers of commerce and other players. With an annual freight volume of 6.4 million tonnes carried between it and the Indian ports, Antwerp is the European market leader for this region.
Global Maritime Appoints Kvannli as CFO
Global Maritime, a provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has appointed Egil Kvannli as it new Chief Financial Officer (CFO). Kvannli, who will take up the role with immediate effect, joins Global Maritime following 20 years of senior financial and management experience in the oil and gas industry with previous roles including Managing Director of Quickflange, a Norwegian based international group providing connection solutions; and CFO of Sevan Marine ASA, a listed company on the Oslo Stock Exchange.
Libyan Oil Output Rises after Port Fighting Ends
Libya's oil production has reached 700,000 barrels per day (bpd), the National Oil Corporation (NOC) said on Wednesday, recovering from a drop earlier this month caused by fighting at two key oil ports. "We are working very hard to reach 800,000 barrels by the end of April 2017, and, God willing, we will reach 1.1 million barrels next August," NOC Chairman Mustafa Sanalla was quoted as saying in a statement. The NOC said in a separate statement it hoped to produce 55,000 bpd in the coming weeks from the Abu Attifel and Rimal fields, which are currently closed for maintenance.
Optimistic Ports Outlook for 2017 Great Lakes-Seaway Season
While the first-half of 2016 was tough for many due to global economic conditions, a strong fourth quarter has spurred optimism as the 2017 shipping season gets underway with this week’s opening of the Great Lakes – St. Lawrence Seaway system. Chamber of Marine Commerce President Bruce Burrows said, “Certainly there was a big improvement in the last quarter of 2016 with the resurgence of iron ore pellet exports out of the U.S. and a strong grain season. “The overall feeling in the Port of Duluth-Superior is positive…