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Tuesday, August 20, 2019

Asia Pacific News

Pic: Navis

N4 - A Shot in The Arm for PTP

With Navis N4 TOS, the Port of Tanjung Pelepas (PTP) has again broken the record for vessel utilization after the MSC Gulsun, the largest container ship in the world, departed with 19,574 TEU in July 2019.This milestone means PTP has broken the record three times in a row and has become the first port in the world to set back-to-back records for container vessel utilization.Navis, a part of Cargotec Corporation and provider of operational technologies and services that unlock…

Pic: China International Marine Containers (Group) Ltd. (CIMC)

Containers Market to Grow by 6.5%

The shipping containers market estimated to grow with a CAGR of 6.5% during the forecast period from 2018 to 2026, said a report.According to ResearchAndMarkets' latest report, the number of goods carried by shipping containers witnessed an extravagant grow from 102 million metric tons in 1980 to 1.83 billion metric tons in 2017.The quantity is projected to claim more than 60% of the world seaborne trade and almost 90% of the non-bulk cargo transported across the globe, it said.The number is quite promising and anticipated to proliferate significantly in the coming years.

Sandeep Seth (Photo: Goltens)

Goltens Appoints Seth as President

The Goltens Worldwide group of companies has announced the appointment of Mr. Sandeep Seth as President. Seth first joined Goltens in 2002 and has steadily climbed the ranks, serving in positions of progressively increasing responsibility. Seth will continue to serve as a member of the Board of Directors.Seth has most recently served as the Vice President Asia Pacific and Vice President Finance of Goltens Worldwide. In these positions, he has overseen the operational, business development and financial aspects of the organization in the Asia Pacific region.

© Photo Gallery / Adobe Stock

DP World's Dubai Box Volumes Slip

DP World's Dubai shipping container volumes fell by 6.3% in the second quarter, the port operator reported on Tuesday, the fifth consecutive quarterly drop.DP World blamed the drop on the loss of lower margin cargo and challenging market conditions, but said it expected more stable throughput for the rest of the year.It handled 3.9 million twenty foot equivalent units (TEU) in the three months to June 30 at its Dubai ports, compared with 4.2 million in the same 2018 period.DP World operates Dubai's Jebel Ali…

Photo: Navis

Navis Names Simon Doughty as GM, VP APAC

Navis, the terminal operating systems (TOS) provider and part of Cargotec, has announced the appointment of maritime industry veteran Simon Doughty as the General Manager and Vice President for the APAC region.Doughty had previously served as the CEO of Hong Kong based Wallem Group and brings over 30 years’ experience in international business management, leading transportation organizations in Asia, the Americas, Middle East and Europe.Doughty has a proven track record of driving top and bottom line growth through efficient operations…

Pic: A.P. Moller - Maersk

Containers Market to Reach $12bln by 2023

The global shipping containers market, which amassed $9.29 billion in 2017, is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.According to a report by Allied Market Research, surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market. However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth.On the other hand…

Pic: ZIM

Zim Begins Asia-Gulf Services with 2M

The global container shipping line Zim Integrated Shipping Services Ltd (Zim) announced a further expansion of its strategic cooperation with the members of the 2M Alliance, Maersk & MSC, to the Asia - US Gulf Trade."The new services, catering for both Central and South China and South Korea, offer significant advantages for customers, including direct connections to major ports in Asia and the US Gulf; best-in-market transit time with reliable dedicated service; Two weekly cutoffs in Houston & Mobile to better serve growing US exports requirements…

Pic: GAC

GAC Mulls Expansion

The shipping & logistics company GAC is tapping into the growing contract logistics business potential of the Asia Pacific, Indian Subcontinent and Middle East, with plans to further develop and expand in its operations in the regions.That was the message Lars Bergström, GAC’s Group Vice President for Asia Pacific & Indian Subcontinent, had for the Group’s Contract Logistics Solutions experts who gathered in Colombo, Sri Lanka, to chart GAC’s strategy to increase its share of the business in their regions.

Ken Loke (Photo: KVH Industries)

KVH Appoints Loke VP Asia Pacific

KVH Industries (Nasdaq: KVHI) said that Ken Loke has been named Vice President – Asia Pacific, to direct all initiatives for KVH in this  region. Loke has extensive experience in satellite and managed services with top companies active in the telecommunications and maritime industries. KVH provides connectivity solutions for the maritime market, including global mini-VSAT Broadbandsm services used by thousands of vessels worldwide.Prior to joining KVH, Loke held the positions of chief commercial officer and chief executive officer for Eutelsat – Asia Pacific…

Image: Carnival Corporation

China to Build Huge Luxury Cruise Ship

The China State Shipbuilding Corp (CSSC), the nation's largest shipbuilder, will build China’s first luxury cruise ship, which is expected to begin operations as early as 2021, said a report in SCMP.China's first domestically built luxury cruise liner, designed to be bigger than the ill-fated Titanic, will be 323.6 meters long and 37.2 meters wide, will have 3,921 beds and accommodate 4,980 passengers.CSSC has signed an agreement to build the 135,000-metric-tonne cruise ship in partnership with British-American cruise operator Carnival Corporation…

Paul Allan (Photo: MTL)

MTL: Allan Named Senior Naval Architect

FPSO and marine integrity management specialists, Marine Technical Limits (MTL) has welcomed a senior naval architect to its team.Paul Allan, who has more than 10-years’ experience in delivering naval architecture and marine warranty surveying (MWS) to the oil and gas industry, has been appointed to the position of Senior Naval Architect by the Kintore-based firm.The chartered engineer will be supporting the MTL team developing systems and procedures, driving MWS and supporting the company’s global FPSO and marine activities.MTL…

Pic: FESCO Transportation Group

FESCO Optimizes the Rotation

Russian shipping company FESCO Transportation Group announced that as part of the development of FESCO Fast Forward services it is optimizing the rotation and changing the names of regular shipping lines from China and the Republic of Korea to Russia.Transportation services between China and Russia will be carried out under the brand FESCO China Express, and between the Republic of Korea and Russia - under the brand FESCO Korea Express.FESCO China Express will operate on two routes…

Photo: Bahri

Bahri Expands Footprint in Asia-Pac

The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company…

Pic: MOT Singapore

Fitch Bullish on Asia-Pacific Ports

Revenue stability and capex plans are the main drivers of credit rating differences among Asia-Pacific ports, according to a new Fitch Ratings report. Leverage and debt structure also set apart the ratings.Revenue stability, due to strong volume or price attributes, and resilience is underpinned by each port's importance to the economy and the strength of its catchment area, along with its competitive position.Volume stability benefits from diverse throughput and limited customer concentration; reliance on a single commodity can increase volatility.

Ravi Edirisinghe, Director/Chief Executive Officer - GAC Sri Lanka (Photo: GAC)

GAC Sri Lanka Taps Edirisinghe as Director

Business veteran Ravi Edirisinghe has been appointed Director/Chief Executive Officer of GAC Group of companies in Sri Lanka.He brings to his new role 27 years of knowledge and experience in strategic planning, business development and re-engineering, supply chain management, logistics and project management in diverse industries to this role. He is responsible for the strategic growth and business direction of the Group comprising GAC Shipping Ltd, GAC Marine Services Pvt Ltd and GAC Logistics Ltd.

File Image: CREDIT GPA

Fitch: Port Growth to Level Off

Volume growth will continue for ports throughout the world but at a more modest pace over the next 10 years, according to Fitch Ratings in a new report. Global port throughput has shown resilience over the last 10 years with throughput growth outpacing economic growth rates despite volatility through the last recession. Containerization of cargo and increasing vessel sizes coupled with supporting infrastructure at ports have all contributed to these throughput trends. However…

World Shares Higher on US-China Deal Hopes

Global shares rose on Monday amid growing optimism the United States and China will reach a trade agreement as soon as this month.U.S. President Donald Trump and Chinese President Xi Jinping might seal a formal trade deal around March 27, given progress in talks between the two countries, the Wall Street Journal reported on Sunday.The two nations have imposed tit-for-tat tariffs on billions of dollars worth of each others' goods, roiling financial markets, disrupting manufacturing supply chains and shrinking U.S.

File Image: AdobeStock / © Redindie

World Shares Higher on US-China Deal Hopes

Global shares rose on Monday amid growing optimism the United States and China will reach a trade agreement as soon as this month.U.S. President Donald Trump and Chinese President Xi Jinping might seal a formal trade deal around March 27, given progress in talks between the two countries, the Wall Street Journal reported on Sunday.The two nations have imposed tit-for-tat tariffs on billions of dollars worth of each others' goods, roiling financial markets, disrupting manufacturing supply chains and shrinking U.S.

Image: Höegh LNG

Höegh LNG Doubles Profit

Hoegh LNG, a provider of floating liquefied natural gas (LNG) services under long-term contracts, reported a profit after tax of $ 44.98 million for the quarter and year ended 31 December 2018, compared to $ 19.96 million in the same period in 2017.The floating storage and regasification unit (FSRU) provider which owns and operates a global fleet of 10 floating LNG import terminals, said in a stock exchange annoucement that its total income reached $122 million for the quarter under review, which compares to $82.3 million in the previous quarter.The president and CEO of Höegh LNG Sveinung J.S.

Pic: WiseTech Global

WiseTech Global Acquires Containerchain

Logistics software company WiseTech Global has announced its acquisition of Singaporean supply chain tracking and management software firm Containerchain.Based in Singapore, Containerchain provides optimization services such as real-time tracking, operational planning and automation to logistics communities in Europe, the US and the Asia-Pacific region.Containerchain serves the container community of empty container depots, road transporters, container terminals, warehouses, shipping lines and cargo owners.

Pic: CXIC Group

Container Market Grows at 8.6%

The Global International Orginization for Standardization (ISO) Shipping Container Market is growing at a CAGR of 8.6% during 2017-2026, said a report.According to Stratistics MRC, growth of seaborne trade, growing demand for commodities and rising industrial expansion in China are the key driving factors for the market growth.However, factors such as the effect on the environment and fluctuating raw material prices are hindering the market growth, the market research report said.ISO container is any type of shipping container which is designed…

Pic: Eastern Pacific Shipping

Eastern Pacific Shipping, Techstars Launch Tech Accelerator

The international ship management company Eastern Pacific Shipping (EPS) has joined force with entrepreneur network Techstars to launch the first global maritime technology start-up accelerator.The EPS MaritimeTech Accelerator will be based in EPS’ headquarters in Singapore and this mentorship-driven startup accelerator partnership will be the first of its kind to target the maritime industry, said a company press release.“The merchant maritime industry is one of the oldest in the world…

Brice Le Gallo, Regional Manager, South East Asia & Australia, DNV GL - Oil & Gas

AsiaPac Oil and Gas Industry Looks Up

Confidence in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL, the technical advisor to the oil and gas industry.According to a new research from DNV GL, three quarters (76%) of senior oil and gas professionals in Asia Pacific are optimistic about the industry’s growth in 2019, compared with 58% in 2018 and 30% in 2017. The proportion of industry leaders who are confident in their own organizations’ prospects has also risen from 59% last year to 74% in 2019.

Eko Lumadyo, Managing Director of Neptune Energy’s Indonesian business. Photo: Neptune Energy

Neptune Energy Indonesia Gets New Managing Director

The oil and gas producer Neptune Energy has announced the appointment of Eko Lumadyo as Managing Director of its Indonesian business, based in Jakarta.Lumadyo will join Neptune from Mandala Energy Indonesia, where he is currently Country President and General Manager.Lumadyo has more than 30 years’ experience in upstream oil and gas exploration, development, planning, operations and commercial affairs. He started his career with Unocal as a geophysicist and progressed within the…

Photo: Kalmar

Kalmar to Deliver 41 Terminal Tractors to Malaysia

Kalmar, part of Cargotec, has signed a contract with SPT Services Sdn Bhd, for an order of 41 units of Kalmar TL2 Terminal Tractors. The order was booked into Cargotec's 2018 fourth quarter order intake and scheduled for delivery in December of 2018.SPT Services Sdn Bhd is a wholly-owned subsidiary of Johor Port Berhad. The 41 units of TL2 terminal tractors will be delivered to the Solid Product Jetty (SPJ) located in Pengerang Johor, Malaysia. The semi-trailers will move containers…

Atypical LNG carrier enroute to berth. (File image / Adobestock / © Fotmart

Floating LNG in Asia Finds Buyers as Prices Plunge

Nine or more tankers on the way or discharged into Asia, while at least five still holding LNG off Singapore.Several liquefied natural gas (LNG) cargoes that had been stored on vessels in Asian waters are now heading towards buyers' terminals in China, Japan or South Korea as spot prices for the super-chilled fuel have plunged this week to multi-month lows.At least nine LNG tankers are now on their way or have already offloaded cargoes to buyers after floating off Singapore, Malaysian or South China waters for up to two months…