28780 members and growing – the largest networking group in the maritime industry!

LoginJoin

Saturday, August 15, 2020

Business Network News

© arrow/AdobeStock

Ransomware: The IT Danger on the Horizon

Two decades into the 21st century, we’re seeing a growing and pernicious threat to global information security: ransomware. Even non-technical folk have loosely heard of it, but the broader implications haven’t yet penetrated the public consciousness. In different industries, that general lack of awareness could be a big problem—and the maritime sector is a good example.Ransomware hits at the confluence of two critical trends in modern technology: the ever-increasing integration of IT systems into daily life, and the interconnectedness of those IT systems.

AdobeStock / © Rawf8

Phase One Trade Deal with China in 'Good Shape'

The initial "phase one" trade pact with China appears to be in good shape and is likely to be signed around mid-November, although a finite date is still in question, U.S. Commerce Secretary Wilbur Ross said on Friday."We're pretty comfortable that the phase one is in good shape," he told Fox Business Network in an interview.Reporting by Susan Heavey

Niels Aalund, President, International Propeller Club

Aalund Named International Propeller Club's President

Niels Aalund was elected at the 93rd International Convention and Conference in New Orleans on October 17th.New Orleans, LA: Prominent maritime industry stakeholder Niels Aalund has been elected President of the International Propeller Club. Mr. Aalund will serve a two-year term, commencing from October 17th. Aalund, a well-known maritime subject matter expert and executive, currently serves as an Officer and as Senior Vice-President of the West Gulf Maritime Association (WGMA).

AdobeStock / © rawf8

White House Points to November for U.S-China Deal

White House trade adviser Peter Navarro on Friday pointed to next month's Asia-Pacific Economic Cooperation (APEC) forum in Chile as the Trump administration seeks to formalize its "phase one" trade pact with China."We're on the glide path to Chile and the meeting of the two presidents mid-November. And the plan there is to have an agreement, so we'll see what happens," Navarro said in an interview on Fox Business Network, referring to U.S. President Donald Trump and Chinese President Xi Jinping. Reporting by Susan Heavey and Jan Wolfe

Pic: CargoSmart

Shipping Majors Join CargoSmart Digital Initiative

The provider of software-as-a-service based shipping and logistics solutions, CargoSmart has announced the official execution of the Global Shipping Business Network (GSBN) Services Agreement with shipping majors.According to a statement from the shipment management software company, CMA CGM, COSCO Shipping, COSCO Shipping Ports (CSP), Hapag-Lloyd, Hutchison Ports, OOCL, Port of Qingdao, PSA International and Shanghai International Port Group have signed up with it.As per the agreement…

© Rawf8 / Adobe Stock

U.S. Wants 'Reasonable' Trade Deal with China

The United States "is not looking for victory" with China over trade but wants "a sensible deal that addresses the legitimate issues that we have," U.S. Commerce Secretary Wilbur Ross said on Wednesday."There are some inappropriate activities underway by the Chinese. They must cease. If they do, if we make some redressing of the trade imbalance, then that's a reasonable deal for both parties," Ross told Fox Business Network in an interview.Reporting by Susan Heavey

Propeller Club Names Cullather as EVP

The Board of Directors of the International Propeller Club of the United States has selected Mr. John M. Cullather as its new Executive Vice President.In the role of Executive Vice President, he will be responsible for the day-to-day operations of the International Propeller Club, will oversee all activities and functions of the International Propeller Club of the United States, and will serve as the primary liaison to the Club’s 70 port chapters worldwide. Along with the Board of Directors…

Port of Baku begins cooperation with leading European logistics hub. Photo: Port of Baku

Port of Baku Pact with European Logistics Hub

The leading companies operating in the city of Venlo in the Dutch province of Limburg, which is one of the largest logistics and transport hubs in Europe, have started cooperation with Baku International Sea Trade Port CJSC.Last week, a Memorandum of Understanding was signed between the government of the state of Limburg, which includes the city of Venlo and leading companies with the Port of Baku.The Memo envisages cooperation with the government of the province of Limburg, companies Cabooter Group…

Acontainership delivers cargo at the port of Savannah, GA (CREDIT: GPA)

Trump: China Trade Deal to Probably Happen

U.S. President Donald Trump said trade negotiations with China were progressing and a final agreement "will probably happen," adding that his call for tariffs to remain on Chinese imported goods for some time did not mean talks were in trouble.Trump, in a television interview aired on Friday, also said he expected to keep a 25 percent tariff on the European automobile sector amid separate ongoing trade talks with the European Union."Our deal is coming along very well. We'll see what happens," Trump told Fox Business Network. "I think the deal will probably happen.

Pic: XVELA

Hapag-Lloyd Collaborates with XVELA

German-based global cargo container shipping line, Hapag-Lloyd AG Hapag-Lloyd set to implement XVELA’s collaboration services to increase transparency throughout the transportation supply chain and more efficiently employ assets and resources.A press release from XVELA, the world’s first maritime business network for ocean carriers and terminal operators, said that both companies plan to initiate the global rollout on one of Hapag Lloyd’s premier Latin American services and will continue to broaden throughout its terminal partners.

Securing, Enhancing America’s Ports & Supply Chain

The American Association of Port Authorities and its membership recently looked ahead at the challenges and opportunities facing the Port Security Grant Program.In its annual “State of Freight” series, AAPA has highlighted the transportation infrastructure needs of U.S. ports, state transportation agencies and multimodal projects. In this final report in the State of Freight series, AAPA turns to the vital role that security infrastructure plays in moving goods.In 2002, Congress…

International Propeller Club Looks for new Executive VP

The International Propeller Club of the United States is looking for a new Executive Vice President to lead its Fairfax, Virginia office in early 2019.The International Propeller Club is an international business network dedicated to the promotion of the maritime industry, commerce, and global trade. It has 5,000 members in more than 75 ports around the world who represent a cross-section of the maritime industry. The Propeller Club is ninety-one years old and serves as the premier…

International Propeller Club Looks for new Executive VP

The International Propeller Club of the United States is looking for a new Executive Vice President to lead its Fairfax, Virginia office in early 2019.The International Propeller Club is an international business network dedicated to the promotion of the maritime industry, commerce, and global trade. It has 5,000 members in more than 75 ports around the world who represent a cross-section of the maritime industry. The Propeller Club is ninety-one years old and serves as the premier…

Shipping industry executives initiate blockchain consortium at a signing ceremony. Photo: CargoSmart Ltd.

Global Shipping Business Network on Blockchain Platform Launched

Nine leading ocean carriers and terminal operators today signed a formal statement of intent for a Memorandum of Understanding (MOU) to form a consortium to develop the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology.According to a statement, the participants include COSCO Shipping Lines, CMA CGM, Evergreen Marine, OOCL, Yang Ming, DP World, Hutchison Ports, PSA International and Shanghai International Port, as well as software…

Suzanne Beckstoffer, an accomplished engineering leader and business woman, the first woman president in SNAME’s 125 year history. Photo: HII/NNS

One-on-One with Suzanne Beckstoffer

One-on-one with Suzanne Beckstoffer, an accomplished engineering leader and business woman, the first woman president in SNAME’s 125 year history.As the Society of Naval Architects and Marine Engineers (SNAME) celebrates its 125th anniversary in 2018, it will celebrate another historical milestone at the start of 2019 when Suzanne M. Beckstoffer takes the helm of SNAME as president, the first woman to hold this position in the association’s history. We met recently with Beckstoffer to discuss her distinguished shipbuilding career…

E2open to Acquire INTTRA

E2open announced the acquisition of ocean shipping network, software and information provider INTTRA. The combination of INTTRA’s ocean carrier and shipper network with E2open’s business network will create a unified global logistics and supply chain network. E2open and INTTRA will join efforts to strengthen the connections and streamline the information flow between manufacturers, suppliers, shipping service providers, ocean carriers and all the participants in global trade.E2open is the largest cloud-based provider of networked supply chain solutions…

Keith Lovetro (Photo: TRAC)

TRAC Intermodal Joins Blockchain Initiative

TRAC Intermodal has joined the Blockchain in Transportation Alliance (BiTA), an organization for the development of blockchain standards and education for the transportation industry, with the goal of bringing together leading companies that are committed to developing blockchain technology. “TRAC Intermodal has joined BiTA to better understand the role that blockchain can play in improving transparency and creating greater efficiencies among all the stakeholders in chassis provisioning,” said Keith Lovetro, President and Chief Executive Officer at TRAC Intermodal.

Trump Economic Adviser says U.S., China Trade Deal Likely

White House economic adviser Larry Kudlow on Thursday said he expects the United States and China to work out their trade differences over time and that trade barriers likely "will come down on both sides."   "There is a process here. There's going to be some back and forth, but there's also some negotiations," he said in an interview on Fox Business Network. "I think we are going to get a deal over a period of time."   Reporting by Susan Heavey and Makini Brice

Photo: Port of Antwerp

Port of Antwerp Looking for Full-Time Representative in the UK

The port of Antwerp has decided to appoint a full-time representative in the UK, based in London, in order to keep in closer touch with the economic situation there now that Brexit is looming closer. "Antwerp Port Authority is now in search of a full-time representative to further raise Antwerp’s profile on the British market," said a press statement from the company. Attracting additional sources of trade and cargo will also form part of the new port representative’s job. With an annual freight volume of nearly 14 million tonnes (2017)…

Photo: Hyundai Merchant Marine

HMM Holds a “2018 Sales Strategy Meeting”

South Korea's Hyundai Merchant Marine (HMM) has  held a “2018 Sales Strategy Meeting” to prepare sales strategies for the next year. At the meeting being held on 18-22 December 2017, approximately 150 people attended including HMM President & CEO C.K. YOO, and 50 HMM expatriates in US, EU, and Asia etc, and discussed each unit’s sales strategy and a detailed promotion plan for 2018. C.K. Moreover,  Yoo also commented about a new shipbuilding plan to order 22,000TEU that “This will be the mega-ship building project in accordance with the national expectation for being a leading shipping nation.

Rear Admiral Joel Whitehead. Photo: International Propeller Club

Propeller Club elects RADM Whitehead as International President

At its 91st annual convention last month, the International Propeller Club of the United States elected and installed its leaders for the coming year and beyond. Representatives of the Club’s more than 75 chapters from around the world elected Rear Admiral Joel Whitehead, US Coast Guard (retired) to a two-year term as International President. RADM Whitehead is a member of the Club’s Port of New Orleans chapter. Niels Aalund, a member of the Club’s Port of Houston and the Senior Vice President…

Photo: Pacific International Lines Pte Ltd

PSA, PIL, IBM on Blockchain Development

Ocean carrier Pacific International Lines (PIL), terminal operator PSA International and IBM plan to utilize blockchain for better security, efficiency and transparency in supply chain business networks and trade finance. Three companies signed a Memorandum of Understanding (MOU) today to explore and trial proof of concept (POC) blockchain-based supply chain business network innovations. The MOU was signed by Ms Lisa Teo, Executive Director (Corporate Development) of PIL; Mr Oh Bee Lock…

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.

Tradepoint Atlantic: Logistics for Offshore Wind Projects

Tradepoint Atlantic, a 3,100-acre multimodal global logistics center in Baltimore that features a combination of access to deepwater berths, railroads, highways and storage space, has issued a statement in connection with the Maryland PSC’s decision to award offshore wind renewable energy credits (ORECs) to U.S. "We are extremely pleased with the decision announced today by the Maryland Public Service Commission (PSC) to award offshore wind renewable energy credits (ORECs) to two developers, U.S. Wind and Skipjack Offshore Energy.

List: Mitsui O.S.K. Lines Ltd

MOL Appoints Chief Country Representatives

Mitsui O.S.K. Lines Ltd. (MOL) will appoint dedicated chief country representatives to manage operations in Asia and Oceania effective on April 1, 2016. Currently, MOL assigns Chief Executive Representatives, who manage regions of the Americas, Europe and Africa, and Asia, the Middle East and Oceania to help the group provide services tailored to customer needs in each market. The appointment of Chief Country Representatives will help enhance cross-sectional, intra-regional ties throughout the MOL Group. The Chief Executive Representative was introduced in June 2015.

NYK and its group companies have implemented a number of measures to prevent corruption and bribery,

NYK Joins Maritime Anti-Corruption Network

NYK has become a member of the Maritime Anti-Corruption Network (MACN), a global business network that works toward realizing fair trade in the entire shipping industry. The network has a vision of a maritime industry free of corruption, and collaborates with governments, authorities, international organizations, and key stakeholders to identify and mitigate the root causes of corruption in the maritime industry. NYK and its group companies have implemented a number of measures to prevent corruption and bribery…