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Monday, October 14, 2019

Asia Pacific News

Edoardo Podestá (Photo: Dachser)

Podestá Named COO of Dachser Air & Sea Logistics

Dachser appoints Edoardo Podestá as the Chief Operations Officer (COO) of the Air & Sea Logistics business field. Podestá replaces Jochen Müller in this position.Dachser and the current COO Air & Sea Logistics, Jochen Müller, have mutually agreed not to extend his contract when it expires in 2020. Jochen Müller will stop working for Dachser with immediate effect.In recent years, Jochen Müller was responsible for developing the air and sea freight business into a network company with operations worldwide…

© PhotoGranary/AdobeStock

Iranian Tanker Hit by Missiles, Oil Rises

Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.The Suezmax crude tanker Sabiti was ablaze and suffered heavy damage after being hit by two missiles, Iranian media reported.Both oil benchmarks recorded their biggest daily rise since Sept. 16, the first trading day after the…

Passenger ferry Suomenlinna II, retrofitted with ABB Ability Marine Pilot Control, was remotely piloted through test area near Helsinki harbor in November 2018. Photo: ABB

Autonomous Ships Market: $134.9B by 2030

The global autonomous ships industry is expected to generate $134.9 billion by 2030, witnessing a CAGR of 4.4% from 2020 to 2030.This projection is premised on an increase in demand for cargo transportation from marines and surge in operational safety of ships drive the growth of the global autonomous ships industry, according to a report published by Allied Market Research.Based on region, Europe is expected to register the largest growth rate with a CAGR of 4.9% from 2020 to 2030.

Image: DNV GL

Veracity Strengthens Asia-Pacific HUB

Veracity, DNV GL’s open industrial data platform, opens new base in Singapore with the aim to stimulate closer collaboration in the maritime sector through the sharing of data.Veracity enables the secure exchange of data-sets, APIs, applications and insights between industries. By bringing Veracity to Singapore, DNV GL aims to spur on the digitization of the maritime industry by helping this sector to better leverage the use of data.“Asia-Pacific is thriving due to a great deal of investment and innovation across industry.

Frost  & Sullivan said shipbuilders and dry-docking companies should work with marine coatings specialists to ensure that high-performance, environmentally-sustainable marine coatings that can protect the environment and increase fuel efficiencies are developed for use in the maritime sector.
Photo: © helenedevun/Adobe Stock

Marine Coatings Market: Clean, Green & $9.3B by 2025

In its latest analysis of the marine coatings sector, UK-headquartered market analyst Frost & Sullivan’s has shown that increased development and adoption of more environmentally sustainable and durable antifouling coatings using higher priced chemistries is a fast-growing trend in the marine sector. In addition, Frost & Sullivan’s report, ‘Global Marine Coatings Market, Forecast to 2025’, says that the Asia-Pacific region is expected to dominate the market owing to its large…

Japanese oil refiner Cosmo Oil is to build new storage capacity for IMO-compliant low-sulfur fuel at its Chiba facility. (Photo © Adobe Stock / show999)

Cosmo Oil Builds IMO-compliant Fuel Stocks at Chiba Port

Japan’s third-largest oil refining company, Cosmo Oil, , has started building stocks of very-low-sulfur fuel oil (VLSFO) for supply to domestic marine fuel markets from next month (October 2019) ahead of the IMO 2020 mandate requiring ships globally to reduce their bunker fuel sulfur content to 0.5% from the current 3.5% from January 2020.Cosmo Oil is using VLSFO produced at its residue desulfurizer (RDS) unit at its Chiba refinery near Tokyo to build the stocks, Cosmo Oil’sPresident Shunichi Tanaka said on Sunday…

Photo: FESCO

Russian Railways, FESCO Digitalization for Cargo

Russian Railways (RZD) and FESCO Transportation Group are launching a service for electronic document flow for intermodal shipments of import freight through the Commercial Port of Vladivostok (VMTP, is part of FESCO Transportation Group), hence being able to reduce transit time by 4 days – from 5 days to 21 hours. The first container freight shipping with the documents processed electronically was made September 4th, 2019, in VMTP in presence of Aleksandr Misharin (the first…

Photo courtesy: Höegh LNG

FLNG Market to Touch $17.5Bln by 2026

The global floating liquefied natural gas (FLNG) market is estimated to grow at CAGR above 5.2% over the forecast time frame 2019 to 2026 and reach the market value around $17.5 billion by 2026.Increasing demand for clean fuel techniques and increasing concentrate on sustainable energy blend will boost FLNG market growth, said a report by Acumen Research and Consulting.Rapid depletion of fossil fuel, combined with continuing carbon footprint reductions, will promote favorable company development.According to the International Energy Agency (IEA)…

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…

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.

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.