“It’s the steel production, stupid!”
BIMCO's Peter Sand, in a new report, weighs in on the implications for the Dry Bulk sectors.Chinese imports of iron ore keep falling, while its crude steel production keeps growing. China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Capesize ships are impacted by this, way beyond the temporary iron ore export disruptions in Brazil and Australia.Chinese steel production grew by a massive 12.6 million tonnes (+9.2%) in the first two months on 2019 as estimated by China Iron and Steel Association (CISA).
New Cruise Ship Terminal in Queensland
Brisbane has launched the construction of the new International Cruise Terminal, heralding the start of a new era for Queensland's economy.The $158 million project is scheduled to open in October next year, with the potential to more than double Brisbane's cruise industry.Premier of Queensland Annastacia Palaszczuk said: "Building this one piece of infrastructure flows through our entire economy. Ships that were too long, too high and too deep to dock at Brisbane's Hamilton facility will have a dedicated cruise terminal.
China's Commodity Imports Tepid, but Improving
If you were looking for evidence that China's economy has lost momentum, you may be tempted to think that you've found it in the unimpressive growth, or lack thereof, in imports of major commodities in the first quarter.Customs data for the first quarter show only crude oil has recorded significant growth in import volumes in the first quarter, with copper data mixed and iron ore and coal dropping.This would seem to confirm the narrative of slowing growth in the world's second-largest economy amid the ongoing trade and tariff dispute with the United States.But as usual the devil is in the deta
Dream Cruises Welcomes Third Ship
Dream Cruises, a luxury cruise line owned by Genting and based in China welcome “Explorer Dream” in Shanghai as the third ship in its Dream Cruises fleet.Dream Cruises held the christening ceremony for the former SuperStar Virgo at Shanghai Wusongkou International Cruise Terminal. Chinese designer Grace Chen served as the godmother and presented a fashion show with 18 models showcasing her 'Voyage' collection, walking a runway on the Palace Pool Deck."Formerly the “SuperStar Virgo” of sister brand Star Cruises…
Pilbara Ports Throughput Down by 13%
Australia's Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 50.3 million tonnes (Mt) for the month of March 2019, which was a 13% decrease compared to the same month in 2018.During March 2019, Tropical Cyclone Veronica closed the Port of Port Hedland for 92.5 hours, the Port of Dampier for 132 hours and the Port of Ashburton for 109.5 hours. The total throughput for the 2018/19 financial year to date is 510.3Mt, a decrease of 1% from the same time last year. The Port of Port Hedland achieved a monthly throughput of 36.7Mt, of which 36.3Mt was iron ore exports.
Liebherr Turnover Tops $11 Billion
The Liebherr Group notched up a company record turnover of $11.8 million in 2018, representing an increase of $828 million, or 7.5 %, compared with the previous year.Despite a slight decline in overall economic growth, revenues from construction machinery and mining equipment rose by 10.8 % to $7,761 million, with especially strong contributions from the Earthmoving, Mobile Cranes and Mining divisions. In the other product areas, which include Maritime Cranes, Aerospace and Transportation Systems…
Queens of the Oceans Come for Hamburg's Port Anniversary
Four magnificent tall ships will come to Hamburg for the 830th Hamburg Port Anniversary from 10 to 12 May – Alexander von Humboldt II, Kruzenshtern, Sedov and Mir.The Queens of the oceans will participate in the grand arrival and departure parades in the heart of the city, on the Friday and Sunday respectively, and invite visitors to look around on board, said a press release from Germany's largest port.Alongside these amazing tall ships, the Hamburg Port Anniversary will be a meeting place for some 300 vessels of all kinds…
Macquarie to Sell Gdansk Box Terminal
A consortium of investors including Poland's sovereign wealth fund PFR has agreed to buy the country's largest container terminal in Gdansk from the infrastructure fund of Australia's Macquarie in a deal worth more than 5 billion zlotys ($1.32 billion), the companies said on Tuesday.The container terminal had a capacity of 1.9 million Twenty-Foot Equivalent Units (TEUs) in 2018.Macquarie launched a sale of the terminal, which sources said in December could be valued at around 1.5 billion euros ($1.7 billion), last year with the help of Goldman Sachs.Reporting by Alan Charlish
ICTSI Net Income Up 22% in 2018
Manila-head quartered port and terminal operator International Container Terminal Services (ICTSI) has released solid results for 2018. ICTSI’s box volumes were higher, revenues increased and the group generated higher profit.The port operator said in a stock exchange annoucement that its consolidated volume higher by six percent to 9,736,621 twenty-foot equivalent units (TEUs) (FY2017: 9,153,458 TEUs) and revenue from port operations increased 11 percent to US$1.4 billion (FY2017…
Seabourn Names First Expedition Ship
Cruise line Seabourn has announced that it will name its first new ultra-luxury purpose-built expedition ship Seabourn Venture. The newbuilding is scheduled to be launched at Mariotti Damen Cruise yard in Italy in June 2021.The cruise line said the name is paying tribute to the remote destinations visited by the brand’s expeditions and Ventures by Seabourn excursion programs and the places yet to be explored in the future.Seabourn began offering expedition experiences during its first sailing to Antarctica in 2013 led by a highly qualified…
Explorer Profile: Sven Lindblad
Profiled in the March 2019 "cruise" edition of Maritime Reporter & Engineering News is Sven Lindblad, intrepid explorer and wildlife photographer Sven Lindblad blazed the trail for environmentally sensitive travelers to Antarctica on Lindblad Expedition’s fleet of cruise ships with National Geographic.You can tell a lot about a man by whom his heroes are, whether famous athletes, virtuoso musicians, brave warriors or movie stars. As we age, we choose our heroes by their moral compass…
Happy International Women's Day from #CSIE19
International Women’s Day has many meanings to many people.This year’s chosen focus of International Women’s Day is #BalanceForBetter, which couldn’t more appropriately reflect our new Conference Agenda. At Cruise Ship Interiors Expo, we’re working to ensure gender balance throughout the event, but specifically in the conference portion. Findings from Dezeen’s ‘Move the Needle’ initiative have shown that the conference-side of events is where the gender balance is let down the most, as it can be particularly hard to find women speakers who want to, and are able to, speak.
CMA CGM Upgrades NEMO service
Shipping group CMA CGM has reinforced its Europe / Indian Ocean & Australia offering by upgrading its NEMO service, which liaises North Europe and the Mediterranean to the Indian Ocean Islands and Australia on the southbound leg and Australia to southeast Asia and Europe on the northbound leg.This upgraded service will be effective in September 2019 and operated in partnership with MSC, subject to applicable filing requirements.CMA CGM said the new offer will feature an upgraded fleet and provide expanded port coverage through a better utilization of hubs offering dedicated feeder services.
Seafarers’ House to Honor AMO's Doell
Paul Doell, National President of the American Maritime Officers (AMO), has been selected as the recipient of Seafarers’ House International Golden Compass Award for 2019.The award is given each year to those who have achieved distinction in the maritime world, those whose vocation or avocation has been the sea, or those who have ministered to or otherwise assisted seafarers.Doell, who heads the nation’s largest union of licensed seagoing professionals, has served the organization for 47 years.
Kalmar's 70,000th Ottawa Terminal Tractor
Kalmar, part of Cargotec, is celebrating a significant milestone with the production of its 70,000th Kalmar Ottawa terminal tractor. Destined for long-standing customer Penske Truck Leasing, the truck was completed on 27 February at Kalmar's US manufacturing facility in Ottawa, Kansas. Employees and guests gathered at the plant to celebrate and watch the final assembly of the truck.The Kalmar Ottawa T2 Terminal Tractor sets the standard for world-class trailer handling solutions for port, intermodal and distribution customers.
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.
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.
Uncertainty Mounts in Dry Bulk Shipping
Uncertainty mounts in dry bulk shipping against a backdrop of weaker growth in Chinese imports, said BIMCO."The extent of the freight rate recovery in 2018 was limited – when compared with initial expectations – by a faster-growing fleet. Q4-2018 wasn’t as strong as it often is either, but we now know that was merely the beginning of a sharp downturn. On top of that, in the first month of 2019, leading the way even further down was a massive lack of cargoes. By early February…
Dry Bulk Market Outlook Darkens After Vale Casualty
The prospects of dry bulk shippers carrying iron ore from mines to smelters have worsened due to the accident at Vale's Brumadinho dam in Brazil, Golden Ocean said on Tuesday as it presented forecast-beating quarterly earnings.The dam in the town of Brumadinho, which contained tailings, the mud-like byproducts of iron ore mining, burst on Jan. 25, killing at least 166 people and with almost 200 more still missing.Brazil's Vale, the world's largest iron ore mining company, has…
Belfast Harbour Hits Record Cargo in 2018
The major maritime hub in Northern Ireland Belfast Harbour handled a record 24.6 million tonnes of cargo in 2018, up 3.8% on the previous year thanks to a major increase in the number of freight vehicles passing through the port, which rose to a high of 532,000, latest figures show."Growth was led by a strong increase in freight vehicle carryings on Stena Line’s services to Great Britain, rising by 3% to a record 532,000 freight vehicles and for the second consecutive year more than 1.5m passengers passed through the Port…
APL: New Asia Australia Express 2
APL launched a new weekly Asia Australia Express 2 (AAX2) service that will connect the key Southeast Asian ports of Vietnam, Malaysia, Singapore and Indonesia to the two major eastern Australian cities of Brisbane and Sydney.The AAX2 service is poised to be the only service in the market with a direct call from Ho Chi Minh to Australia. Promising the industry’s fastest transit time, an AAX2 shipment from Ho Chi Minh to Brisbane and Sydney will take just 16 days and 18 days respectively.
ITF Blames BHP for Starving Crew
The International Transport Workers’ Federation (ITF) informed that crew members aboard a ship at a BHP terminal in Queensland are being neglected and underpaid."Crew aboard a ship at a BHP terminal in Queensland claim they are being starved and underpaid, in yet another instance of the coal giant’s veil of secrecy over its operations in Australian waters," said an ITF release.A seafarer aboard an 80,000-tonne bulk carrier, the Villa Deste, contacted ITF pleading for help. The starving crew claims to have no food and no onboard wages…
INPEX Selects NAPA for LNG Carrier Fleet
Japan's largest oil and gas exploration and production company INPEX Corporation has installed ClassNK-NAPA GREEN for monitoring operations on three of its liquefied natural gas (LNG) carriers.NAPA said that Inpex awarded a deal to the company for the provision of a solution for monitoring and follow-up of ship operations on two LNG carriers built to service the Ichthys project and one LNG carrier for Shell’s Prelude FLNG project.With the core motivation of accurately verifying the technical performance of these highly complex carriers…
Dubai Port Raises Stake in Australian Port
Dubai-based port operator DP World says it has acquired additional assets in DP World Australia (DPWA), giving the firm a majority stake in its Australian terminals.The percentage of what has been acquired from Gateway Infrastructure Investments and other financial investors is still being finalized and subject to regulatory approval. However, it valued DPWA at an enterprise value of approximately AU$1.4 billion (US$ 997 million).Following the closure of the transaction, DP World…
DP World to Spend $250 mln Building Australia Stake
Dubai's DP World will spend at least $250 million buying back some shares in its Australian port terminals business which it sold in 2010, a company spokeswoman said on Wednesday.DP World will buy the shares from Corsair Infrastructure Partners' Gateway Infrastructure Investments and other investors, it said in a bourse statement.The Dubai-government controlled company will at least double its stake to 50 percent, valuing DP World Australia at about $1 billion, the spokeswoman said.DP World are taking management control as part of the deal which could see it end up with a majority stake…
Pilbara Ports Hits Single-Tide Record Tonnage
Australia's Pilbara Ports Authority has achieved a new record tonnage on a single tide at the Port of Port Hedland.On 15 January 2019, 10 vessels departed the port in convoy carrying a total of 1,754,741 tonnes of bulk product, exceeding the previous record from December 2017 by 165,680 tonnes.Port Hedland Harbour Master, Myron Fernandes congratulated all involved noting that a combination of factors contributed to the new record.“Pilbara Ports Authority has invested in industry-leading practices in recent years to maximise the efficiencies of vessels entering and exiting the harbour…