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Monday, March 25, 2019

Argentina News

Image: Exxon Mobil

QP, Exxon to Build $10B LNG Plant in Texas

Exxon Mobil and Qatar Petroleum announced a final decision to finance a $10 billion-plus project to export liquefied natural gas (LNG) from the Texas Gulf Coast.Construction of the Golden Pass LNG export project located in Sabine Pass will begin in the first quarter of 2019 and the facility is expected to start up in 2024, said a press release.“Golden Pass will provide an increased, reliable, long-term supply of liquefied natural gas to global gas markets, stimulate local growth and create thousands of jobs…

Pic: Exolgan Container Terminal

Buenos Aires' Exolgan Orders Four Hybrid RTGs from Kalmar

Cargo handling solutions company Kalmar has signed an agreement with Exolgan S.A. to supply a total of four rubber-tyred gantry cranes (RTGs) with hybrid drivelines for its container terminal in Buenos Aires, Argentina."The order, which also includes the supply of a spare parts package for the machines, was booked in Cargotec's 2018 Q4 order intake with delivery scheduled to take place in late 2019," said a press release from Kalmar, part of Cargotec. The Exolgan terminal in Buenos Aires is a general cargo and container-handling port terminal with strategic road…

Richard Greiner (Photo: Moore Stephens)

Moore Stephens: Leaner, Greener Shipping Will Attract Investment in 2019

Accountant and shipping adviser Moore Stephens says shipping will continue to attract investors in 2019 if it fulfills its ESG (environmental, social and governance) responsibilities.In the latest issue of Bottom Line, the Moore Stephens shipping sector newsletter, Richard Greiner, a partner in the firm’s Shipping & Transport team, says, “It has been suggested that the future is very much like the present, only longer. Should that prove to be the case for the shipping industry…

(Photo courtesy of EXMAR)

Tango FLNG En Route to Argentina

Belgium based EXMAR announced Thursday that its floating liquefied natural gas (FLNG) facility has left China for a 45-day voyage to the destination of its liquefaction operations at the Port of Bahia Blanca in Argentina.The barge-based Tango FLNG (previously named Caribbean FLNG) is on the move just one month after a contract was signed for a firm, 10-year deployment.Upon its arrival, the facility will be put in operation for EXMAR’s customer YPF S.A. and is expected to start up LNG production in the second quarter of 2019.

Virtu Ferries ship launched at Incat. Photo: Incat

Shipbuilding: New 110m Catamaran Named Saint John Paul II

Shipbuilder Incat has launched the 110m vehicle / passenger ferry from the shipyard at Derwent Park in Hobart Tasmania. The ship will commence sea trials in mid January prior to delivery to her new owner Virtu Ferries for service between Malta and Sicily.Bearing the livery Saint John Paul II the vessel has been named in honor of the Pope who served from 1978 to 2005, so revered the Pope has often posthumously, but unofficially, been referred to by Catholics as "St. John Paul the Great".

File image: Soy cargo loading (CREDIT: AdobeStock / © Igor Strukov

U.S. Soybean Cargo Unloaded in China

A vessel carrying U.S. soybeans has unloaded its cargo at the port of Qingdao in China on Friday, shipping data showed, amid a trade truce between China and the United States.The Star Laura, originally carrying 69,298 tonnes of soybeans loaded in Seattle, arrived at Qingdao outer anchorage in early November.The vessel's draft is now at 44 percent of its maximum depth, indicating it has emptied its load, data from Refinitive Eikon showed.The ship changed destination to South Korea in early November but came back to the port in eastern Shandong province in December…

Intermodal operations at the port of Shanghai / Credit: AdobeStock / © zdu hang

China to Halt Additional Tariffs on U.S.-made Cars

China to suspend additional 25 pct tariffs on U.S.-made cars for three months; China's planned tariff halt follows purchase of U.S. soybeans.China will suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019, the country's finance ministry said on Friday, following a truce in a trade war between the world's two largest economies.China will suspend 25 percent tariffs on 144 U.S. vehicle and auto part items and 5 percent tariffs on 67 auto items between Jan.

“Nobody, not even the opposing sides in this evolving economic conflict, seems to know what is going to happen next,” said Xeneta CEO Patrik Berglund.“Nobody, not even the opposing sides in this evolving economic conflict, seems to know what is going to happen next,” said Xeneta CEO Patrik Berglund. (Photo: Xeneta)

Xeneta: Watch Both Sea and Air Amid Trade War Tensions

As the ongoing trade war between the US and China continues to send tremors of uncertainty through the global economy, Xeneta is advising senior executives to keep a close eye on fluctuating ocean and air freight rates. In an unpredictable geopolitical environment, highlighted by last week’s arrest of Huawei’s CFO in Canada, the leading freight rate benchmarking and market intelligence platform says shippers need agile logistics strategies, with the option of shifting transportation mode whenever necessary.“Nobody…

file Image / AdobeStock / © Nightman 1965

China, U.S. Discuss Road Map for Continuing Trade Talks

China and the United States discussed a road map for the next stage of their trade talks on Tuesday during a telephone call between Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.U.S. President Donald Trump and Chinese President Xi Jinping agreed at a Dec. 1 meeting in Argentina to a truce that delayed a planned Jan. 1 U.S. increase of tariffs to 25 percent from 10 percent on $200 billion worth of Chinese goods.Lighthizer said on Sunday that unless U.S.-China trade talks wrapped up successfully by March 1…

Pic: Exmar

Exmar Bags FLNG Contract from YPF

Belgium's Exmar and YPF of Argentina announced the signing of a firm, ten-year agreement to deploy Exmar’s barge-based floating LNG liquefaction unit (FLNG) currently known as Caribbean FLNG to produce and export LNG from the Vaca Muerta source at the Neuquén Basin in Argentina.The project marks the entry of Argentina to the select club of global LNG exporting nations, with an initial plan to export 500,000 tons of LNG per year to overseas markets.Exmar’s FLNG barge will be named Tango FLNG and be deployed to the port of Bahia Blanca.

File Image: AdobeStock / © Panmaule

Trudeau Discussed Steel Tariffs with Trump in Paris

Canadian Prime Minister Justin Trudeau said on Monday he had discussed U.S. steel and aluminium tariffs with President Donald Trump over the weekend and that he hoped to reach a resolution on the matter by the G20 summit in Argentina."I absolutely brought up the issue of steel and aluminium tariffs," Trudeau told a news conference in Paris on Monday.Trump and Trudeau spoke to one another on the sidelines of the Paris Peace Forum.The leaders' summit takes place on Nov 30 and Dec 1.Reporting by John Irish

© sanguer/Adobe Stock

BIMCO: US soya bean exports to China down 97%

The trade war and particularly the Chinese tariffs on imports of U.S. soya beans can now clearly be seen with the start of the soya bean peak exporting period in the U.S. In the first eight weeks of the 2018/19 marketing year accumulated U.S. exports are down 39%, from 12.2 million tonnes on 26 October 2017 to 7.5 million tonnes on 25 October 2018.“While weekly exports this season have been consistently lower than last season, the week to 18 October marked the single biggest decrease, from 2.5 million tonnes in the corresponding week last year, to just 1.1 million tonnes.

© Igor Strukov / Adobe Stock

Vietnam May Recall Wheat Re-exports

Vietnam could recall an order that goes into effect on Nov. 1 that requires companies to re-export wheat cargoes containing cirsium arvense seeds, known as Canada thistle, the government said on Wednesday.Vietnam, whose main wheat suppliers include Russia, Australia and Canada, has been battling with imports contaminated with thistle seed since May. The government is concerned that the contaminated cargoes could cause the Canada thistle weed to spread across the country and potentially harm domestic crop yields.Last month…

© Alexey Lesik / Adobe Stock

Vietnam Could Halt Certain 'Dangerous' Wheat Imports

Vietnam might halt imports of wheat cargoes containing cirsium arvense, or thistle seed, while suggesting local importers should seek supplies from Kazakhstan, Australia and Argentina, local media reported on Thursday.Wheat importer Vietnam, whose main suppliers include Russia, Australia and Canada, has been battling with imported wheat contaminated with thistle seed since May and has sought measures to stop the issue.From Nov. 1, cargoes containing cirsium arvense will be re-exported…

BIMCO's Chief Shipping Analyst Peter Sand

BIMCO: Shipping in the Line of Trade War Crossfire

BIMCO, the world’s largest international shipping association, issued a stern warning today as once again, the already long list of tariffed goods has been made even longer.Many more commodities were hit on 23 August, but September is likely to dwarf it all, as the US has proposed tariffs on goods worth USD 200 billion. According to BIMCO, The tariffed goods’ share of global trade is largely underestimating the overall negative impact of this trade war on globalisation and international shipping.BIMCO’s chief shipping analyst Peter Sand remarked…

Photo: APM Terminals

Eurotainer Appoints APM Terminals as Agent for Argentina

Eurotainer US, Inc. has selected APM Terminals Inland Services Argentina as the exclusive agent for the sales and marketing of its tank container leasing services in Argentina.APM Terminals serves the Argentinian market through five strategically located Inland Service Depots located in key markets along the full length of the country. The company offers equipment lifecycle management, transportation services and cargo support.The company's Puerto Deseaso Depot has an established…

Southern Ports are Getting with The Program…

The In-transit cold treatment program, that is! The dimensions of The Program are remarkable. The Reefer Shipping Market and Forecast 2017/18 produced by Drewry calculated that 79 percent of perishable cargo moved in refrigerated containers in 2016 and only 21 percent on reefer ships. By 2021, reefer containers will carry 85 percent of perishable products, while reefer cargo will reach 134 million tons, Drewry study predicts. One reason for the growth of reefer cargo in containers is the remarkable expansion of the USDA sponsored In-Transit Cold Treatment Pilot program.

SENER  appointed Jorge Sendagorta Cudós to be head of the Engineering and Construction area. Photo: Sener

Cudós Tapped to Lead Engineering and Construction for SENER

SENER  appointed Jorge Sendagorta Cudós to be head of the Engineering and Construction area. He was, until now, the country manager of SENER in Mexico. SENER's Engineering and Construction area, which will be managed by Cudós, comprises three Business Units: Infrastructure and Transport; Renewables, Power, Oil & Gas; and Marine. It has branches in Algeria, Argentina, Brazil, Canada, Colombia, South Korea, Chile, China, United Arab Emirates, Spain, USA, Morocco, Mexico, Portugal, UK, and South Africa.Cudós joined SENER in October 2012 in the energy sector.

Contecon Guayaquil SA, a subsidiary of International Container Terminal Services, Inc. at the Port of Guayaquil, is now the first and only port in Ecuador to accommodate two mega vessels simultaneously. Photo: ICTSI

ICTSI Contecon Guayaquil Gets Approval to Handle Mega Vessels

Contecon Guayaquil SA (CGSA),  subsidiary  of Manila-based International Container Terminal Services (ICTSI)  has received the government of Ecuador approval to accommodate mega vessels of up to 305 meters in length at the Port of Guayaquil’s Berths 2 and 3. "ICTSI further strengthened its market position as the main trading gateway in the entire Ecuador after recently getting the government’s nod to service larger vessels," said a press release from the company. The Ecuadorian Ministry of Transport and Public Works…

Photo courtesy of North Adriatic Port System Authority

Venice, A New Generation Port

The port of Venice has been chosen as the Italian case study in the “Next Generation” international conference, which is promoted by AIVP, the International Association of Port Cities, which is meeting from June 11th to 14th in Quebec City, Canada.To celebrate its 30 years of research and in-depth work on the issue of the relationship between the spirit of a port and that of a city in harbor cities, the worldwide network has focused its 2018 conference on “new generation ports”…

Photo: APM Terminals

APM Terminals Uruguay Inches to Zero Carbon Emissions

APM Terminals Inland Services Uruguay (also known as Montevideo Port Services SA) switched on 648 solar panels this month, capable of producing 228.6 MWh per year, enough to meet up to 90 percent of the facilities entire annual consumption.By switching to their own renewable energy source, Inland Services Uruguay, the largest equipment maintenance and repair provider in the country, will reduce its CO2 emissions by almost 50 tonnes per year. To put this in perspective, according to the United States Environmental Protection Agency it would take around 1…

© Leonid Eremeychuk / Adobe Stock

US Hits EU, Canada and Mexico with Steel, Aluminum Tariffs

The United States on Thursday said it will impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union, reigniting investor fears of a global trade war as Washington's allies took steps to retaliate against U.S. goods.The move, announced by U.S. Commerce Secretary Wilbur Ross in a telephone briefing on Thursday, ended months of uncertainty about potential tariff exemptions and suggested a hardening of the Trump administration's approach to trade negotiations.It also sent a chill through financial markets…

President Trump and President Macron in April 2018 (Official White House Photo by Shealah Craighead)

France's Macron Calls for Global Trade Reform

French President Emmanuel Macron on Wednesday said it was time for the world's biggest economic powers to start talks on reshaping World Trade Organization rules to prevent current tensions spiraling into trade wars.Macron's comments before the Paris-based Organization for Economic Cooperation and Development (OECD) came as the European Union faced less than 48 hours to win an exemption from U.S. tariffs on European aluminium and steel."This is about a complete update of global competition rules…

© evening_tao / Adobe Stock

Macroeconomic Trends Signal Good News for Shipping

The current global economic growth (GDP) looks like it may be as good as it gets, with indicators across the globe signaling healthy expansion, but at a slower pace compared to the levels seen in the last half of 2017.Global economic growth seems on track to reach its highest level since 2011, as the International Monetary Fund (IMF) maintain its projection for the world GDP at 3.9 percent and expects the global economic growth to be supported by a strong momentum, favorable market sentiment and accommodative financial conditions in 2018 and 2019.

© yaniv / Adobe Stock

Bulk Shipping: Economics 101

Supply and Demand in the bulk transport sectors will define the course line ahead. Less ships and more cargo will be the key.The drybulk sector – where iron ore, coal, grain and other raw materials dominate – is still wrestling with a decade-long hangover that began with the financial collapse of 2008. A recovery ensued in 2010 and 2011, but, following the time honored trade pattern, the brighter outlook brought about an avalanche of new build orders and another drop in rates ensued.

© donvictori0 / Adobe Stock

US Exports to China to Rise amid Trade Talks, but Volumes are Capped

China has pledged to buy more U.S. goods to reduce America's huge trade deficit and help avoid exacerbating a trade war between the world's two biggest economies, with energy and commodities high on Washington's list of products for sale.The U.S. trade war with China is "on hold" after the governments agreed to drop tariff threats and work on a wider agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Washington is especially keen to sell more of the United States'…