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Saturday, September 23, 2017

(Photo: Crowley)

Crowley Sends Cargo Flow to Puerto Rico for Hurricane Relief

Crowley Maritime Corp. announced that it has established a flow of relief cargo into San Juan, Puerto Rico, following Hurricane Maria, the devastating Category 4 storm that made direct impact with the island on Wednesday. To make this possible, Crowley has four vessels loaded with a mix of relief and commercial cargo currently en route to the company’s Isla Grande terminal in San Juan, with two more scheduled to follow. These six vessels will begin entering the harbor as soon as the U.S. Coast Guard deems it is safe to do so, which some reports indicate may be as early as tomorrow morning.

© lidian neeleman / Adobe Stock

Baltic Index Hits More Than 3-year High on Strong Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to its highest in three-and-a-half years on Friday, boosted by strong capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 32 points, or 2.18 percent, to end at 1,502 points, its highest since March 2014. The capesize index was up 199 points, or 6.75 percent, at 3,147 points, its highest level since November 2014.

Image:  ESPO

Organisations Across Europe Ask EU to Invest More in Transport

With the slogan “More EU budget for transport, the best investment plan for Europe” a coalition of thirty European transport organisations are launching today their campaign for a strong connecting Europe Facility for the next financial period 2021-2028. “We are very pleased  to see that 30 transport organisations, covering all modes and nodes, service providers, users and cargo owners are supporting this plea for a strong financial support for the completion of the TEN-T network," says ESPO’s Secretary General Isabelle Ryckbost. "750 billion euro is needed to complete the TEN-T core network.

© Viktoriya Kundeus / Adobe Stock

Baltic Index Extends Gaining Streak

Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a sixth consecutive session, helped by stronger rates for capesize and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 21 points, or 1.45 percent, to 1,470 points. The capesize index was up 87 points, or 3.04 percent, at 2,948 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $631 to $21,325 - their highest since Nov. 25, 2014.

John Wolfe (Photo: The Northwest Seaport Alliance)

Northwest Seaport Alliance CEO Wolfe Receives 2017 Connie Award

John Wolfe, CEO of The Northwest Seaport Alliance, received the 2017 Connie Award presented by the Containerization & Intermodal Institute in Long Beach, Calif., on Tuesday, September 19. Since the formation of the NWSA in August 2015, Wolfe has led the marine cargo operating partnership of the ports of Seattle and Tacoma. “This is an incredible honor for John and The Northwest Seaport Alliance,” said Tom Albro, Port of Seattle commission president and co-chair of The Northwest Seaport Alliance. “John leads through hard work and a well-grounded vision.

Graph: Drewry Benchmarking Club

Global BCOs Hit by Rising Contract Rates from Asia

Contract freight rates paid by Beneficial Cargo Owners to move their products by container have increased for a 4th consecutive quarter, according to actual contract rate data from the Drewry Benchmarking Club. Average contract rates on two major container trade routes - from Asia to North Europe and North America – have increased by another 4% between the second and the third quarter of this year. This means that the latest Drewry Benchmarking Club Contract Index has increased by 39% in the year to the third quarter, based on $2 billion of ocean freight spending.

Vessel operations at the Port of Brunswick resumed at 8 a.m. Thursday in the wake of Hurricane Irma. By Friday, crews were busy serving three Ro/Ro vessels - the Dover Highway, Onyx Ace and WWL Tiger. (Georgia Ports Authority)

August Trade Heats Up in Brunswick, Savannah

Auto and container volumes at the U.S. Southeast's busiest ports in Brunswick and Savannah experienced impressive growth in the month of August. Colonel's Island Terminal in Brunswick moved 53,675 units of roll-on/roll off cargo, an increase of 7,109 or 15.3 percent more than August last year. In its busiest August on record and the Authority's second busiest month ever for container trade, Savannah handled 348,297 twenty-foot equivalent container units, an increase of 5.3 percent or 17,591 TEUs compared to the same month a year ago.

Palmali Lodges $2 Bln Claim Against Lukoil's Litasco

Turkey-based Palmali, one of the biggest shippers in the Caspian region, said on Monday it had lodged a claim worth almost $2 billion against Litasco, the trading arm of Russian oil producer Lukoil, with the English High Court. "The claim concerns an alleged failure by Litasco S.A. to provide contractual quantities of cargo under long term contract between the companies," Palmali said in a statement sent to Reuters.   Reporting by Nailia Bagirova; writing by Vladimir Soldatkin

Photo:  International Maritime Organization (IMO)

Warning on Hazards of Carrying Bauxite by Ship

A new warning that bauxite may become unstable when carried in bulk on a ship, potentially causing the vessel to capsize, has been issued by the International Maritime Organization (IMO). Bauxite is one of the world’s major sources of aluminium with around 100 million tonnes transported annually by sea. In 2015, a bulk carrier sank while transporting bauxite, with the loss of 18 seafarers. Research presented this week to an IMO Sub-Committee found that certain forms of bauxite…

US-flag Shipping on Great Lakes Up 7%in August

The Lake Carriers’ Association (LCA) said U.S.-flag Great Lakes freighters (lakers) moved 10.1 million tons of cargo in August, an increase of 7 percent compared to a year ago. The month’s shipments also bettered the August long-term average by approximately 60,000 tons. Iron ore cargos for steelmaking totaled 4.7 million tons, an increase of 4.7 percent compared to a year ago. Coal loadings neared 1.6 million tons, an increase of 8.5 percent. Limestone cargos increased nearly 10 percent to 3.2 million tons.

Photo: Port of Keil

Kiel Port Prize Goes to Grage of SCA Logistics

The 2017 annual Port of Kiel Prize has been awarded to Jörn Grage, Managing Director of SCA Logistics GmbH. The award was presented on Thursday evening, September 14th, by Dr Dirk Claus, Managing Director of the PORT OF KIEL (SEEHAFEN KIEL GmbH & Co. KG) as part of celebrations to mark the “Sprottenback” – the traditional annual social get-together of companies in the port business community. In a speech honouring the Port Prize recipient, Dirk Claus said: “Jörn Grage has, because of his own personal commitment…

© Amarinj / Adobe Stock

Baltic Index Near Fresh 3-year High

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a fresh near three-year high on Thursday, supported by firmer rates across vessel segments. The overall index — which factors in rates for capesize, panamax, supramax and handysize shipping vessels — rose 24 points, or 1.8 percent, to 1,361 points, a peak since November 2014. The capesize index gained 14 points, or 0.53 percent, to 2,642 points. The main capesize activity this week has been from the west Australian market…

(File photo: Hapag-Lloyd)

THE Alliance Sets $50 Mln Insolvency Contingency Fund

Remarks from Federal Maritime Commissioner William P. Doyle at the FTR Transportation Conference 2017, Indianapolis, Ind. On September 13, 2017, I voted to expedite the Commission’s decision and support THE Alliance’s amendment authorizing creation of a contingency trust fund designed to protect customers’ cargo and the ocean transportation chain should one of THE Alliance’s carriers experience financial distress or an insolvency event. I support the goal behind this amendment: the smooth and continuous flow of cargo even in the face of another ocean carrier bankruptcy or catastrophic failure.

File photo: Port of Los Angeles

Port of LA Registers Record-Breaking August

August container volumes at the Untied States’ busiest port climbed by 6.1 percent compared to August 2016 volumes. 847,857 Twenty-Foot Equivalent Units (TEUs) came through the Port of Los Angeles, marking the busiest August and the second-busiest month in the port’s 110-year history. Eight months into 2017, Los Angeles container volumes are 9 percent ahead of 2016, when the port handled a record-breaking 8.8 million TEUs. Through August, total 2017 cargo volumes are 6,127,209TEUs. August loaded imports increased 5.1 percent to 432,479 TEUs. Loaded exports rose 4 percent to 159,197 TEUs.

(File photo: Star Bulk)

Baltic Index Edges Lower on Weaker Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Wednesday as rates for capesize vessels fell. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 7 points or 0.52 percent to 1,337 points. The capesize index lost 96 points or 3.52 percent to end at 2,628 points, marking its biggest one-day percentage decline in two weeks. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $813 to $19,129.

File Photo: Euroseas Ltd

Euroseas Acquires Vessels and Full Ownership of Euromar

Euroseas announced that it signed a memorandum of agreement to purchase the M/V EM Athens and EM Oinousses, both feeder size containership vessels of 2,506 teu built in 2000. The Company also announced that it acquired the option to purchase from Euromar two additional container vessels, the M/V EM Corfu, a feeder size containership vessel of 2,556 teu built in 2001, and the M/V Akinada Bridge, a post-panamax size container vessel of 5,600 teu built in 2001 until September 30, 2017.

Photo: International Maritime Organization (IMO)

Hazards of Bauxite on Cargoes

New research considered by International Maritime Organization (IMO) this week about the behaviour of an aluminium ore that featured in a high-profile shipping casualty in 2015 could lead to changes in industry rules about how such cargoes should be handled. IMO’s Sub-Committee on Carriage of Cargoes and Containers (CCC 4, 11-15 September) this week is considering the latest research results on the potential instability of bauxite when carried as a ship’s cargo. Bauxite is one of the world’s major sources of aluminium.

File Photo: DryShips Inc

DryShips Commences 5 Year TC for Second VLGC

DryShips, a diversified owner of ocean going cargo vessels, announced today that, its second Very Large Gas Carrier commenced its time charter on a fixed rate with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years. The Company expects a total gross backlog associated with this time charter of up to USD 92.7 million including the optional periods. Five days ago, DryShips announced that it has taken delivery of the previously announced high specifications second newbuilding VLGC.

(Photo: SEACOR)

New Orleans' Big Plans Showing Dividends

A Container-on-Barge service intended to be an integral part of the regional intermodal equation is gathering momentum – and customers. Quietly, the Port of New Orleans (NOLA) has marked some important accomplishments in the past two years, across multiple business sectors. For example, in April 2016, NOLA’s Board dedicated a $25 million Mississippi River intermodal terminal, capable of handling 160,000 twenty-foot-equivalent (TEU) units per year by rail. CN Railroad signed a memorandum of understanding (MOU) a year earlier (2015)…

Record August Cargoes at Port of Virginia

The Port of Virginia tallied the most productive August in its history, moving 240,605 twenty-foot equivalent units (TEUs), a 2.2 percent increase when compared with the same month last year. “As construction progresses at VIG (Virginia International Gateway) and the civil work at NIT (Norfolk International Terminals) continues, the port team is performing at a very high level with no reduction in service levels and the safety of our colleagues as our first priority,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority (VPA).

© Valentin Kundeus / Adobe Stock

Baltic Index Hits near 3-year High

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near three-year high on Monday, supported by higher rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 23 points, or 1.73 percent, at 1,355 points - the highest since Nov. 2014. "The market has been solely driven forward by the capesize shipping segment this year. Only recently have we seen panamax and handysize climb to profitable freight rates…

© the_lightwriter / Adobe Stock

“Blockchain” and the World of Marine Insurance

If you’ve been working in the marine insurance industry lately, you will have heard about “blockchain” at some point; it is the electronic, distributed ledger, notoriously known for enabling the use of cryptocurrencies such as Bitcoin and Ether. But the blockchain technology’s utility goes beyond cryptocurrencies, potentially offering creative ways to solve other real-world problems. Within blockchain ledgers, the use of ‘smart’ contracts essentially converts contractual obligations into lines of computer protocols, which facilitate, verify, or enforce its performance.

Graph Source: Indian Port Association provided by Press Information Bureau

Technology Drives Growth of India’s Major Ports

Technological advancement for modernization of major ports and reforms for enhancing ease of doing business are driving and sustaining the growth trend line at India’s major ports. The country’s 12 major ports together handled 273.96 Million Tonnes of cargo between April to August, 2017 as against 265.31 Million Tonnes handled during the corresponding period of previous year, an overall growth of 3.26%. Seven Ports (Kolkata, Paradip, Chennai, Cochin, New Mangalore, Mumbai and JNPT) registered positive growth in traffic during the period April to August 2017.

© eric / Adobe Stock

US Waives Jones Act to Secure Fuel for Hurricane Responders

The U.S. government on Friday said it was temporarily waiving a law that limits the availability of cargoes on the U.S. coasts, a step that will ensure enough fuel reaches emergency responders during Hurricane Irma and in the wake of Hurricane Harvey. The Jones Act mandates the use of U.S.-flagged vessels to transport merchandise between U.S. coasts. The Department of Homeland Security waived the requirement for one week. This will allow oil and gas operators to use often cheaper, tax-free, or more readily available foreign-flagged vessels.

(Photo: Port of Long Beach)

Consumer Demand Drives up Long Beach Imports

Imports at the Port of Long Beach surged more than 10 percent in August compared to the same month last year, marking the third-highest monthly import total in the port’s 106-year history. Long Beach terminals processed 692,375 twenty-foot equivalent units in all — 8 percent more than last August’s shipments — making it the second-busiest August ever and the third-highest container volume for any month. Cargo is up 6.6 percent for the first eight months of the year over 2016.

Image: Hyundai Merchant Marine

HMM Completes First Blockchain Pilot Voyage

Hyundai Merchant Marine (HMM) announced that it has successfully completed its first blockchain technology adopted pilot voyage. HMM, with other members of shipping and logistics blockchain consortium, have conducted its first pilot voyage from Korea to China (Busan to Qingdao) with reefer containers from August 24th to September 4th. HMM applied the blockchain technology to this pilot voyage - from shipment booking to cargo delivery - and reviewed the feasibility of adopting the technology into shipping and logistics.

The Swan Ace calling at the Port of Kisarazu. Photo: MOL

MOL Car Carrier's First Call at Port of Kisarazu

Mitsui O.S.K. Lines (MOL)  announced that on August 31, the MOL-operated car carrier Swan Ace (capacity: 6,400 standard passenger cars) called at the Port of Kisarazu in Chiba Prefecture and loaded 800 used vehicles. It was the first call for MOL-operated car carriers of Japan – East Africa trade. On the same day, the cargo owner, port officials, and other guests attended a commemorative ceremony at a hotel in Kisarazu City. Vast used vehicle export yards are clustered around the Port of Kisarazu.

Image: DryShips Inc.

Dryships Adds New VLGC

DryShips Inc, a diversified owner of ocean going cargo vessels, has announced that it has taken delivery of the previously announced high specifications second newbuilding Very Large Gas Carrier (VLGC). The VLGC will be employed under a time charter on a fixed rate with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years. The Company expects a total gross backlog associated with this time charter of up to $92.7 million including the optional periods.

US Requiring Enhanced Screening of Cargo from Turkey

The U.S. Transportation Security Administration said on Thursday it is issuing a new security directive requiring enhanced screening of cargo from Turkey. The change was "to adequately address emerging threats to cargo and raise the baseline for global aviation security," TSA spokesman Michael England said. The directive mandates voluntary measures already in use by Turkey and will ensure "cargo flying to the United States is screened and secured in accordance with the Air Cargo Advance Screening Program," he said.

Bahri’s new state-of-the-art 26,000 DWT RoCon vessel, designed to simultaneously accommodate Project, Roll-on/Roll-off, Break-bulk and Container Cargo, arrived at the Port of New Orleans late August marking the first time a roll-on/roll-off cargo ship called Port NOLA since 2005. (Credit: Bahri)

Bahri’s New Ro-Ro Ship Calls New Orleans

The Port of New Orleans welcomed the return of roll-on, roll-off service with the inaugural call of the Bahri Yanbu, a new state-of-the-art multipurpose vessel, in mid-August at the Nashville Avenue Terminal Complex operated by Ports America. “The return of roll-on/roll-off service to the Port of New Orleans – for the first time since 2005 – helps us meet the diverse needs of the marketplace and increases our global competitiveness,” said Brandy D. Christian, Port of New Orleans President and CEO.

© Gang / Adobe Stock

Baltic Index Hits Near 5-month High On Improving Vessel Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near 5-month high on Thursday, driven by stronger demand across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 46 points to 1,296 points, a level last touched on April 13. The 3.68 percent jump was its biggest in a single day since Aug. 11. The capesize index climbed 176 points, or 7.22 percent, to 2,614 points, a peak not hit since late March.

Port Manatee Awarded $1 Mln Federal Security Grant

Port Manatee has been awarded a $946,950 federal security grant, enabling the Central Florida Gulf Coast port to double the number of outbound lanes at its main gate to securely accommodate increasing cargo volume. “With Port Manatee’s dynamic growth in containerized cargo activity, having more lanes in place is essential to continuing to meet stringent federal requirements for screening of outbound containers,” Carlos Buqueras, the port’s executive director, said today. Port…

Dockwise Bags Marine Transport Contracts Worth $50 Mln

Royal Boskalis Westminster N.V. said its wholly-owned subsidiary Dockwise has recently been awarded a number of marine transport contracts with a combined contract value of approximately $50 million. Dockwise was awarded a contract by Husky Oil Operations Ltd. for the transportation of the West White Rose Topside from Texas, U.S. to Newfoundland and Labrador, Canada. The contract includes the engineering, preparation and execution of the loading, transport and discharge operation of the topside.

Matson Launches Okinawa Service

U.S. carrier Matson, Inc. said it has inaugurated service to the port of Naha, Okinawa as part of its expedited China-Long Beach Express (CLX) service. Having received all necessary permits and clearances, the new weekly service made its first call at Naha on September 2, 2017. Westbound transit times to Naha are 17 days from Long Beach, 18 days from Oakland, 21 days from Seattle, and 11 days from Honolulu. Eastbound transits from Naha are 14 days to Long Beach, 17 days to Oakland and 33 days to Seattle.

© Volodymyr Kyrylyuk / Adobe Stock

Baltic Index Posts Best Day in Three Weeks

The Baltic Exchange's main sea freight index, which tracks rates of ships carrying dry bulk commodities, posted its best day in nearly three weeks on Tuesday, helped by higher rates for all vessel types. The index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, ended up 28 points at 1,215. The 2.36 percent rise was its biggest one-day gain since Aug. 17. The capesize index gained 70 points, or 3.12 percent, to 2,313 points. Average daily earnings increased $548 to $17…

Photo: Vitol

Vitol Signs Deal with Angola LNG

Angola LNG (ALNG) and Vitol, the world’s largest independent energy dealer, have entered into a multi-year LNG sales agreement. Under the agreement, ALNG cargoes will be delivered to Vitol at destinations around the world. Commenting on the sales agreement, Artur Pereira, CEO, Angola LNG Marketing Ltd, said: “This sales agreement is an important step for Angola LNG and demonstrates our ability to respond to the needs of our customers and the market. Pablo Galante Escobar, Head of LNG, Vitol, said; “We are delighted to have entered into this agreement with Angola LNG.

Photo: NSB GROUP

NSB Adds 31 Ships

German ship manager NSB Group  has added 31 new ships under its management. In the course of the new joint venture named PT Asia Marine Temas fleet of NSB grows up to 96 vessels in total. At the same time NSB extends its business in Southeast Asia. Partner of the new joint venture is Indonesian shipping company Temasline. Headquarter of the company is located in Jakarta. Until 2020 the corporate structure of the group of companies will undertake further changes. REEDEREI NSB is extending international ship management activities under corporate brand name NSB GROUP.

Graph: Drewry Shipping Consultants Limited

Shipping’s Recovery May Not Lift Seafarer Wage Costs

Despite a recovery in cargo shipping markets, ship manning costs will remain suppressed as shipowners and operators continue to be financially challenged and the officer shortfall recedes, according to the latest Manning report published by global shipping consultancy Drewry. The lack of confidence in the industry has seen wage increases almost at a standstill since 2009, and over the past year average officer rates have slid into reverse. While there remains an overall shortfall in officer numbers…

Photo: ESL Shipping

ESL Shipping Launches Viikki

Viikki, the new eco-friendly dry cargo vessel of ESL Shipping, part of Aspo Plc, was successfully launched today at the Jinling shipyard in Nanjing, China. “The longstanding work in this project becomes concrete today when we see the vessel floating for the first time. There is still a lot of work ahead before her delivery, but I’m confident that we will get a superb vessel tailored to our needs”, comments Captain Jussi Vaahtikari. Viikki is the first LNG-powered handyzise bulk carrier in the world and is a forerunner in energy efficiency and eco-friendliness.

Photo: DP World

Ecuador, DP World Begin USD 1bln Port Construction

The President of Ecuador Lenín Moreno and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem today performed a ground-breaking ceremony to mark the start of construction of the greenfield multi-purpose port project at Posorja, Ecuador. The ceremony follows the 50-year concession the company won last year from the Government of Ecuador to build a facility with 750,000 TEU (twenty-foot container equivalent) of capacity to fuel the country’s economic growth and connect it with international markets.

Photo: Royal Oman Police, (From official account of Royal Oman Police in Twitter)

Cargo Ship Sinks near Oman

A Tanzanian-flagged cargo ship sank off the Omani coast due to leaked sea water, reported Bahrain News Agency. Twenty sailors were saved. The report quoted Authorities in Oman saying that the ship was loaded with construction material, consisting of steel bars and sand. Police and Oman’s Transportation and Communications Ministry said that the boat sank off the coast of Lakabi, a town some 620 kilometers (385 miles) southwest of the sultanate’s capital, Muscat. The 20 sailors, who were of various nationalities, were rescued and brought to the nearby police hospital in Lakabi.

 Port of Colombo. Photo: Sri Lanka Ports Authority

New Container Scanner System for Colombo Port

A new container scanner system has been introduced to the Colombo Port. The installation ceremony was launched by the Finance Minister Mangala Samaraweera and Custom officials. According to the newest initiative four portals of Eagle P60, state of the art scanning units with complete turnkey solution would be installed by the Rapiscan Systems (Pvt) Ltd, an American based leading global supplier of security inspection. It was learnt the Rapiscan Systems (Pvt), the lowest bidder for the tender was awarded the contract by the government under the purview of customs authority.

LGL Brings US-flag RO/RO into Service

Liberty Global Logistics LLC (LGL) said its newest U.S.-flag Roll-On/Roll-Off (RO/RO) vessel, the M/V Liberty Peace, has commenced service. The flag of the vessel was transferred from Norwegian flag by the captain of the M/V NOCC Baltic to Jeffrey M. Raider, the U.S. Captain of the vessel. The M/V Liberty Peace was delivered to its owners in March 2017. The pure car/truck carrier (PCTC) will proceed to the U.S. West Coast to load cargo, then continue westbound across the Pacific to destinations in the Far East and Middle East.

Ports America’s Port Newark Auto Terminal New Mobile Ro-Ro Operations Labor Training Simulator, STISIM Drive (Photo: Ports America)

New RoRo Training Simulator at Port Newark Auto Terminal

Ports America said its Port Newark Auto Terminal (PNAT) has elevated its operational training programs with the purchase of a mobile ro-ro operations labor training simulator, which prepares drivers for a variety of ro-ro vessel scenarios involved in the loading and discharging of rolling stock/auto cargoes. The STISIM Drive system is interactive and not only simulates the range of ro-ro vessels’ challenging scenarios, but also measures and corrects driver performance. Among the…

Photo: China Merchants Port Holdings

China Merchants Port's 1H Profit Soars 86%

Hong Kong-Listed China Merchants Port Holdings reported an 86% surge in first-half net profit, thanks to a one-off gain and higher volume handled by the company's ports. Net profit attributable to shareholders rose to HK$3.15 billion ($402.5 million) from HK$1.69 billion a year ago, the company said. Profit for core ports operation came in at HK$2.45 billion. Revenue for the period rose 5% to HK$4.05 billion. "The economic indicators of the second quarter this year indicated continuous growth of economic activities around the world.

Ice-breaking LNG carrier Christophe de Margerie. Photo: PAO Sovcomflot

SCF's Balancing Act in Tanker Market

Despite the turbulent conditions seen in conventional markets, SCF Group has continued to demonstrate resilience whilst remaining able to position itself to take advantage of the future upswing in these markets when it comes. The first half of 2017 was very challenging for global tanker markets, with spot freight rates in all market segments nearing their historic lows. This has impacted severely upon the profitability of those owners focused solely on conventional shipping, said a press statement from SCF Group quoting Sergey Frank, President and CEO of PAO Sovcomflot.

Steven Cernak (Photo: Port Everglades)

Cernak Elected Chairman of Florida Ports Council

Port Everglades Chief Executive/Port Director Steven Cernak will succeed Port Tampa Bay Director Paul Anderson as chairman of the Florida Ports Council, a professional association of Florida’s public seaports, providing advocacy, leadership and research on seaport-related issues before state and federal government. “Steven Cernak has been an invaluable member of the Florida Ports Council. His extensive experience at numerous ports around the nation is a great asset to capitalize on the strengths of Florida’s diverse seaport system,” said Florida Ports Council President and CEO Doug Wheeler.

© ArchonCodex / Adobe Stock

Baltic Index Falls on Weaker Vessel Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday due to weaker demand for larger vessels. The overall index — which factors in rates for capesize, panamax, supramax and handysize shipping vessels — was down 22 points, or 1.83 percent, at 1,181 points. The capesize index fell 99 points, or 4.16 percent, to 2,282 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $752 at $17,026.

File Image (CREDIT: AdobeStock / (c) Carabay)

Traders Look to Asia Products for U.S. Options

Traders adding U.S. port options to cargoes for flexibility. Traders are scrambling to find oil products in Asia to ship to the United States and Latin America after Hurricane Harvey shut almost a quarter of U.S. refining capacity, several trading and shipping sources told Reuters on Wednesday. Many are also asking for ships to have a U.S. option added to their original destination to allow for flexibility in sending the cargoes across the Pacific, shipbrokers said. At least one oil products tanker…

(Photo: TRAC Intermodal)

TRAC Select Expands at US’ Largest Ports

TRAC Intermodal said it is expanding availability of its TRAC Select offering to meet growing demand among customers serving the country’s busiest ports including the Los Angeles/Long Beach and New York/New Jersey ports. Launched in February, TRAC Select is a premium chassis pool fleeted with a wide array of specialty chassis and services to meet specific customer and marketplace needs. Increased demand for TRAC’s specialized equipment at West Coast ports is driven by surging chassis volume during the current peak season…

Bulk Carrier Splits in Two in the Black Sea

A dry cargo vessel broke in two in the Black Sea off Turkey's northwest coast, television images showed early on Sunday, while the 11-man crew was rescued. Mongolian flag carrying Leonardo, a 114-meter-long dry cargo ship, started buckling and broke in two while on anchor off Istanbul's Kilyos coast. Half of the ship was taken ashore by tugboats, while the remainder is in the water gradually sinking. Turkish media reports said the ship, constructed in 1975, was going to Istanbul's Tuzla dockyard for repairs. (Writing by Ece Toksabay; Editing by Mark Potter)

File Photo: Hanjin Shipping Co Ltd

Korea to Establish Maritime Promotion Corporation

Korea Maritime Promotion Corporation (KMPC), a dedicated support organization for the shipping industry, will be established in Busan in June of next year with capital of 5 trillion won (US$4.5 billion), reported BusinessKorea. KMPC is set to offer financial and industrial policy support, in order to reform and upgrade the shipping industry in Korea, in response to the Hanjin Shipping bankruptcy. At Seoul meeting of the ministers of economic affairs, on 24 August, South Korea’s Ministry of Oceans and Fisheries announced a plan to establish Korea Maritime Promotion Corporation…

MST, Reederei Indicted for Falsifying Pollution Records

The U.S. Justice Department announced a federal grand jury in Portland, Maine, returned a nine-count indictment today charging MST Mineralien Schiffarht Spedition Und Transport GmbH (MST) and Reederei MS “Marguerita” GmbH & Co. Geschlossene Investment KG (Reederei) with failing to keep accurate pollution control records and falsifying records. The charges stem from the falsification of records in 2016 and 2017 designed to cover up overboard discharges of oily mixtures and machinery space bilge water from the Liberian-flagged cargo vessel, M/V Marguerita.

Photo: CMA CGM

CMA CGM Theodore Roosevelt Breaks Panama Canal Capacity

The Panama Canal welcomed the largest capacity vessel to ever transit the Expanded Locks, the CMA CGM Theodore Roosevelt. CMA CGM Theodore Roosevelt  became the largest container ship ever to cross the new canal. Leaving the Port of Yangshan on July 28th, the CMA CGM giant crossed the new Panama Canal on August 22th. "Today's transit not only represents the growing success and adoption of the expanded canal, but also its impact on reshaping world trade," Jorge Quijano, the Panama Canal's adminstrator, said in a statement following the Theodore Roosevelt's passage.

Global Seatrade newbuild MV Baltic features complete communications system from Globecomm. Photo: Globecomm

Globecomm Installs Complete Solutions on MV Baltic

Globecomm, one of the leading providers of maritime connectivity services, has installed a complete communications solution on MV Baltic, the latest newbuild to join the Global Seatrade fleet. To meet demanding connectivity needs, Globecomm delivered its global Ku-band VSAT solution with VoIP services, an Iridium Pilot L-Band system and KNS S8 to enable flat fee internet access and live TV services onboard the new heavy cargo roll-on/roll-off vessel ship. "We congratulate Global Seatrade on the recent launch of the MV Baltic…

© Roman Stetsyk / Adobe Stock

Baltic Index Slides on Lower Rates for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped for the second straight session on Wednesday, hurt by falling rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 27 points, or 2.16 percent, to 1,222 points. The capesize index shed 107 points, or 4.3 percent, at 2,382 points - its biggest one-day percentage fall since July 27. The index snapped a 17-day rally on Tuesday.

Nik Scott-Gray, chief executive at Montrose Port Authority (Photo: Montrose Port Authority)

Offshore Wind Delivers Success for Montrose Port

Montrose Port Authority said it has supported its first project within the offshore renewable sector, heralding a new era of capabilities for the energy industry support and service hub. In association with NorSea Group (UK) Ltd, a subsidiary of Norwegian logistics company NorSea Group AS, the port is participating in the Hywind Scotland offshore wind project. The four-week campaign consisted of five port calls for anchor handling tug supply vessel, the Normand Prosper. After loading chain and mooring equipment to the vessel…

Mohammed Abdool (Photo: TNPA)

New e-Commerce Platform Live at South African Ports

Transnet National Ports Authority’s (TNPA) new, fully integrated e-commerce platform has gone live. The new Order to Cash system replaces TNPA’s nine year old PortsOnline customer system for online submission of cargo documentation. TNPA Chief Financial Officer and Executive Sponsor of the project, Mohammed Abdool, said, “Order to Cash is another Smart People’s Ports initiative that seeks to modernize how Transnet National Ports Authority (TNPA) operates by creating a single view of our port system and making transacting more effective and efficient.

© Lukasz Z / Adobe Stock

Baltic Index Posts First Drop in 3 Weeks

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Tuesday snapped a 16-day winning streak, weighed down by weaker demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 17 points, or 1.34 percent, to 1,249 points. The capesize index shed 95 points, or 3.68 percent, to close at 2,489 points, notching its first drop since July 27. In that period, the index had gained nearly 120 percent.

Vessel at Port of Izmir (Photo: Milaha)

Qatar Shipper Milaha Starts Turkey Service amid Crisis

Qatar Navigation (Milaha), the Doha-based maritime and logistics group, has launched a direct shipping service between Qatar and Turkey amid a regional diplomatic crisis that has cut Doha cut off from three of its closest neighbours. Saudi Arabia, the United Arab Emirates (UAE), Bahrain, along with Egypt, cut diplomatic and trade ties with Qatar in June over its alleged support for terrorism and Iran - charges Doha denies. The four countries have banned Qatari vessels from docking at their ports, as well as flights to and from Doha.