Baltic Index at 4-week Peak on Broad Support
The Baltic Exchange's main sea freight index rose to its highest in more than four weeks on Thursday, lifted by strong demand across all vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, gained 57 points, or 2.8%, to 2,118, its highest in a month.The capesize index jumped 158 points, or 4.3%, to 3,829, its highest since July 23. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $1,059 to $29,490. "The Brazil to China route is now showing signs of improvement.
Peel Ports Steps Toward Brexit Ready
Peel Ports Group has been accredited with the internationally recognized quality mark of Authorized Economic Operator (AEO) at all its principal ports by Her Majesty’s Revenue and Customers, affirming the Port’s efficient and robust processes to customers worldwide.The Liverpool based port operator said that achieving AEO status from Her Majesty’s Revenue and Customs was a “significant milestone” especially on the path towards Brexit.Peel Ports Group has successfully achieved AEO status for the following ports: Clydeport Operations Limited…
Shell Charters LNG-Powered Tanker Fleet
Shell Tankers (Singapore) Private Ltd has agreed a long-term deal to charter a fleet of 10 LNG dual-fuel Aframax crude oil tankers from Sinokor Petrochemical Co Ltd, which expects to take delivery of them from Samsung Heavy Industries in South Korea in 2021."Shell has agreed to charter a fleet of new liquefied natural gas (LNG)-fueled crude oil and products tankers, as part of its drive to decarbonise shipping," said a press note.Separately, Shell has agreed long-term charters for four new LNG dual-fuel oil products tankers, from institutional investors advised by J.P.
Baltic Index Down on Lower Capesize, Panamax Rates
The Baltic Exchange's main sea freight index fell for the second straight session on Tuesday, hurt by softer demand for the capesize and panamax vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 0.4%, or 8 points, to 2,059 points.The capesize index slipped 63 points, or 1.7%, to 3,665 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, fell $290 to $28,591.The panamax index eased 13 points, or 0.6%, to 2,161 points.
ABB’s Digital Solution Helps to Reduce Fuel Costs
ABB secured its first contract for ABB Ability Tekomar XPERT for fleet of 55 vessels with Hamburg based ship manager CPO Containerschiffreederei (CCPO).CCPO offers high quality service to its charter clients and professional ship management for 111 of own and third-party ships. They were an early adopter of the smart engine performance diagnostics software, Tekomar XPERT, during its initial release in 2015. The latest Tekomar XPERT for fleet web application launched in June this…
Baltic Index Snaps 7-day Win Streak as Capesize Drags
The Baltic Exchange's main sea freight index fell on Monday, breaking a seven-day winning streak as rates for capesize vessels eased.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 21 points, or 1%, to 2,067 points.The capesize index fell 98 points, or 2.6%, to 3,728 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, fell $743 to $28,881.Dalian iron ore futures gave up early gains and ended lower on Monday…
NORDEN Inks Long-Term Contracts
NORDEN contracted with Enviva to transport 1.3-1.5 million metric tons of wood pellets from the US to Europe over a six-year period. The Contract of Affreightment (CoA), which runs from 2021 to 2026, builds on NORDEN’s long-term collaboration with Enviva, which began in 2012.NORDEN has also been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.The CoA, which runs from January 1, 2020 to December 31, 2022, will see NORDEN ship around 1.3 million tonnes of coal per year on Panamax vessels, an estimated 17-20 cargoes annually.
ICE, Magellan to Offer Dock Capacity to Houston Oil Futures Customers
Intercontinental Exchange Inc and Magellan Midstream Partners LP said on Wednesday they would auction dock capacity at Magellan's terminals in Galena Park and Seabrook, Texas, for holders of ICE's Permian West Texas Intermediate (WTI) crude futures contracts.The monthly auction process will allow customers who purchase an ICE Permian WTI crude futures contract, deliverable at Magellan's East Houston terminal (MEH), the option to load crude directly onto a vessel at Galena Park and Seabrook dock facilities for export…
Baltic Index at 2-week High on Capesize, Panamax Strength
The Baltic Exchange's main sea freight index climbed to a near two week high on Tuesday propelled by strong demand across capesize and panamax vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, gained 90 points, or 5.1%, to 1,864 points, a high since July 31.The capesize index added 188 points, or 5.8%, to 3,454 points, its highest in more than a week. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal…
China in Talks with U.S. Trade Officials
Senior Chinese and U.S. trade officials spoke by telephone on Tuesday as the Chinese side lodged solemn representation on additional tariffs on Chinese goods scheduled to start next month, China's Ministry of Commerce said in a statement.The statement was issued at around the same time that U.S. Trade Representative Robert Lighthizer's office said the United States will delay imposing a 10% tariff on certain of the products, including laptops and cell phones.The Chinese statement made no mention of this planned delay.Chinese Vice Premier Liu He spoke with Lighthizer and U.S.
St. Croix Upgradess with New Lake Assault Boats Craft
The St. Croix County Sheriff’s Office in Hudson, Wisconsin, earlier this summer took delivery of a Lake Assault Boats rigid hull inflatable boat (RHIB). The new boat enhances the office’s patrol capabilities and water-based emergency rescue operations on a 27-mile stretch of the St. Croix River, a National Scenic Riverway.“Our stretch of the St. Croix River is a heavily used recreational area, with many cabin cruisers, houseboats, and all types of pleasure craft while, further north…
Trafigura in Fuel JV with Frontline, Golden Ocean
Trafigura Group is joining forces with shipping firms Frontline and Golden Ocean to set up a company to supply shipping fuels ahead of a shake up in regulations next year which could disrupt fuel delivery and cause prices to spike.The three companies said on Tuesday that subject to agreement on final terms, the joint venture is expected to start operating in the third quarter.From Jan. 1, International Maritime Organization (IMO) rules will bar many ships from using marine fuel, also called bunker fuel, containing more than 0.5% sulphur in order to help reduce air pollution.
Port of Los Angeles Reports Record July TEUs
Volumes Increase 9.4% Compared to Previous Year.For the fourth consecutive month, the Port of Los Angeles has set a new single-month cargo record. In July, the Port moved 912,154 Twenty-Foot Equivalent Units (TEUs), the busiest July in the Port’s 112-year history. “Container exchange per vessel reached 9,915 TEUs, the highest and most efficient level we’ve ever experienced,” said Port of Los Angeles Executive Director Gene Seroka. “Despite the continued decline in exports and high level of uncertainty driven by trade tensions…
Baltic Index Rises on Capesize, Panamax Rates
The Baltic Exchange's main sea freight index rose on Monday, supported by strong demand across capesize and panamax vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 26 points, or 1.5%, to 1,774 points, level last seen on August 5.The capesize index added 44 points, or 1.4%, to 3,266 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $388 to $24,410.The panamax index was up 34 points, or 1.8%, at 1,932 points, its highest since July 30.
New ABB CEO: Committed to the Next 5 Years
New ABB Chief Executive Bjorn Rosengren is committed to at least five years with the Swiss engineering group, Chairman Peter Voser said on Monday.Age or nationality was also not an issue in appointing the 60-year-old Swedish executive, Voser told reporters. Rosengren, the current CEO of Sandvik will turn 61, a month after taking over at ABB next March."Age didn't a play a role. What is important is the experience, it's the focus, it's the empowerment of people, it's the way a person drives the businesses.
China Fixes First U.S. Crude Cargo Since Latest Tariff Threat
Chinese oil trader Unipec chartered a supertanker to ship U.S. crude to China in September, trading sources said, the first such cargo since U.S. President Donald Trump announced additional tariffs on Chinese import, ending a monthlong trade truce.Unipec, the trading arm of state refiner Sinopec , has fixed the Very Large Crude Carrier (VLCC) Anne to load U.S. crude in mid-September, according to a shipbroker and Refinitiv Eikon data. VLCCs are capable of transporting about 2 million barrels of crude.Unipec has three other vessels…
Ponant to Acquire Paul Gauguin Cruises
Adding access to exciting itineraries and experiences for passengers of both brands.PONANT, the world leader of luxury expeditions to locations that only small ships can navigate, has announced its plan to acquire PAUL GAUGUIN CRUISES, the renowned specialist in sailings to exotic ports in French Polynesia and the South Pacific. Like PONANT, PAUL GAUGUIN combines exceptional itineraries with luxury hotel services and fine cuisine to create memorable experiences at sea. Following the acquisition…
Retail Imports at Near-Record Levels Despite Tariffs
Imports at the nation’s major retail container ports are expected to continue at near-record levels this month and the remainder of the year despite a new round of tariffs on goods from China, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.“Even with virtually everything American imports from China soon to be subject to tariffs, it isn’t quick or easy for retailers to change their supply chains,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
Matson Announces Q2 2019 Results; Lowers FY2019 Outlook
Matson reported net income of $18.4 million, or $0.43 per diluted share, for the quarter ended June 30, 2019. Net income for the quarter ended June 30, 2018 was $32.6 million, or $0.76 per diluted share. Consolidated revenue for the second quarter 2019 was $557.9 million compared with $557.1 million for the second quarter 2018. For the six months ended June 30, 2019, Matson reported net income of $30.9 million, or $0.72 per diluted share compared with $46.8 million, or $1.09 per diluted share in 2018.
HDR to Lead $870M Rail Project at PoLB
The Port of Long Beach, one of the greenest ports in the world, has selected HDR to perform the final design as it moves ahead with its $870 million effort to streamline rail operations and reduce bottlenecks at the second-busiest container port in the U.S.The Pier B On-Dock Rail Support Facility Project will expand the port’s capability for loading shipping containers directly on rail cars instead of being loaded on trucks for short-haul trips. The expansion and reconfiguration of the existing Pier B railyard will create a staging area for loading freight trains nearly 2 miles long…
Port Manatee wins $1.4 million for Port Security
Port Manatee has been awarded $1,425,000 in federal funding to advance three projects to bolster security at the fast-growing Central-Southwest Florida Gulf Coast port.“Port Manatee greatly appreciates federal support of our efforts to ensure safe, secure and efficient flows of dynamically increasing cargo volumes,” Vanessa Baugh, chairwoman of the Manatee County Port Authority, said today, following notification of the fiscal 2019 Port Security Grant Program award from the U.S. Department of Homeland Security’s Federal Emergency Management Agency.David St.
Softer Capesize Demand Drags Down Baltic Index
The Baltic Exchange's main sea freight index fell for an eleventh straight session on Tuesday to nearly one-month lows, pushed down by lower rates for capesize vessels due to sluggish demand in both Atlantic and Pacific regions.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 40 points, or 2.3%, to 1,734 points, lowest since July 8. The index has, still, nearly tripled since February, mainly driven by strong demand for vessels that ship iron ore from Brazil into China over the past few months.
Port of Oakland Ready for Peak Season
Uncertainty clouds the peak season container shipping outlook with more threatened tariffs on Chinese imports to the U.S. looming. But the Port of Oakland said today that there’s no uncertainty about handling the annual August-November cargo rush.“The Port is operating efficiently, ships are getting in-and-out on time and cargo is moving without delay,” said Maritime Director John Driscoll. “We don’t see that changing in the coming months.”The Port said it wouldn’t project volume for shipping’s traditional highwater mark when imports increase to support holiday merchandising.
Oldendorff Chooses PAS ε-ORB Software
Cyprus-based maritime technology & marine risk prevention firm Prevention at Sea Ltd has been awarded a contract from Oldenorff Carriers for switching from the traditional paper Oil Record Book to ε-ORB (electronic Oil Record Book).Oldendorff Carriers’ decision was based on recognition of the burdens arising from the use of the traditional paper version of MARPOL Oil Record Books as well as the complexity and accuracy of recording proper operational entries relating to discharges…
NWSA Issues RFP for Terminal 46 Cargo Ops
Terminal 46 on Seattle's working waterfrontThe Northwest Seaport Alliance is now accepting proposals for Terminal 46, a 50-acre deep-water marine terminal.Strategically located on the Seattle waterfront with convenient access to major road and rail infrastructure, this property is uniquely suited for water-dependent uses including marine cargo operations, logistics and other maritime-supported activities.The successful proposal will align with and support our goal of growing cargo volumes and creating family-wage jobs in the Puget Sound region…
Jacksonville's Seaport Generates 26,000+ Local Jobs
New study finds port investments including Harbor Deepening have resulted in “significant” job growth over last five years.Cargo activity through Jacksonville’s seaport positively impacts tens of thousands of jobs and supports nearly $31.1 billion in annual economic output for the region and state, according to a newly released study. The study, citing double-digit growth in the port’s total economic impact over the last five years, was conducted by Martin Associates, a widely recognized maritime research firm.In the Jacksonville area…
Baltic Index Nears One-Month Nadir
The Baltic Exchange's main sea freight index fell for a tenth straight session on Monday to its lowest in nearly a month as a combination of better ship supply and easing demand hurt vessel rates.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 14 points, or 0.8%, to 1,774 points, lowest since July 9. The index has, still, nearly tripled since February, mainly driven by strong demand for vessels that ship iron ore from Brazil into China over the past few months.
Report: Cruise Sector Seafarers Unhappiest
The latest Seafarers Happiness Index report, published by The Mission to Seafarers, has revealed that seafarers working onboard cruise ships and ferries rank among the unhappiest in the industry.The report, which is produced in association with leading mutual P&I insurer the Shipowners’ Club, is based on the responses of thousands of seafarers across the global maritime industry. The latest report showed that cruise and ferry crews had an average score of 5.3/10 on their general happiness level - 15 per cent less than the global average across all vessel types…
Tentative Deal to End Alaska Ferry Strike
Contract negotiators between striking Alaska ferry boat workers and state officials have reached a tentative deal to end a 9-day-old walkout that has shut down the state Maritime Highway System, a federal mediator said on Friday.About 420 members of the Inlandboatmen's Union of the Pacific (IBU) walked off the job on July 24, idling a ferry network that serves more than 30 coastal and island communities statewide. It was the first strike against the Alaska Maritime Highway System in 42 years.The Federal Mediation and Conciliation Service…
Hamburg: Double-digit Box and Bulk Gains
Hamburg is Germany’s biggest universal port and, with 9.9 million tons throughput in 2018, its second biggest inland port. For the first quarter of 2019, the recently published inland vessel data from the northern statistics office reports 34,640 TEU – 20ft standard containers – for the Port of Hamburg. This represents an increase of 20 percent in comparison with the same period last year. Additionally, in the first three months of 2019, at 2.57 million tons, the total quantity…
K-Line Guilty of 'cartel conduct'
Japanese shipping firm Kawasaki Kisen Kaisha Ltd (K-Line) was convicted of criminal cartel conduct and ordered to pay a A$34.5 million ($23.50 million) fine by a federal court, Australia's competition regulator said on Friday.K-Line’s fine is the largest ever criminal penalty imposed under the Competition and Consumer Act, according to the Australian Competition and Consumer Commission (ACCC).The company was found to have engaged in a cartel with other shipping companies in order to fix prices on the transportation of cars, trucks, and buses to Australia between 2009 and 2012, ACCC said.K-Line
Canadian Natural Resources eyes Rail Contracts
Canadian Natural Resources, the country's biggest oil and gas producer, is looking at taking on the Alberta provincial government's contracts to move crude by rail, a senior company executive said on Thursday.Shipping more crude by rail is seen as critical for Canadian oil producers due to congested pipelines that forced Alberta to order mandatory oil curtailments this year.Alberta's United Conservative Party government said in June that it would divest rail contracts amounting to 120,000 barrels of crude per day (bpd) to the private sector this fall.
Oil slumps 7% as More Tariffs Loom
Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1.The drop in Brent crude was the steepest in more than three years, undoing a fragile oil rally built on steady drawdowns in U.S. inventories even as global demand looked shaky due to the U.S.-China trade dispute.Trump's announcement of an additional 10% levy on…
U.S. to hit $300B of Chinese goods with 10% tariff
U.S. President Donald Trump said on Thursday he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, as talks aimed to ease tensions between the world's two largest economies continue."Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%," Trump tweeted.Reporting by Makini Brice and Susan Heavey
ZIM’s starts Central America-Caribbean Service (CCX)
ZIM has announced a new service between Mexico, Caribbean and Central America, commencing on the second half of August, with the following rotation:Veracruz-Altamira-P. Cortes-Santo Tomas-Kingston-Rio Haina-San Juan-Kingston-Veracruz ZIM will operate 3 vessels in a weekly, fixed-day service offering the fastest transit time and best product in the region:From Mexico to Dominican Republic;From Mexico to Puerto Rico;Connecting USEC & Canada to Mexico, Guatemala (and El Salvador) & Honduras…
MacGregor Acquires TTS Group Units
Cargotec’s MacGregor business area has completed the acquisition of the marine and offshore businesses of TTS Group ASA. Cargotec announced in February 2018 an agreement to acquire the businesses for an enterprise value of approximately $96 million.Completion of the acquisition follows receipt of required approvals from the relevant countries and authorities. The acquired businesses will be integrated within MacGregor's operating structure, and their results will be consolidated into MacGregor's financial figures as of August 1…
Yilport Pact for 49-Year Concession at Taranto
Turkey's Yilport Holding signed a concession agreement with Port Network Authority of the Ionian Sea (PNAIS), the managing institution of the Port of Taranto in Italy for the multipurpose terminal.The deal was signed on 30 July 2019, at Castello Aragonese in Taranto, Italy by Robert Yuksel Yildirim, Yilport Holding Chairman, and Sergio Prete, the President of Taranto Port Authority.The agreement appoints Yilport to undertake all operations at the multipurpose terminal of Taranto Port for 49 years.This is the 22nd marine port in Yilport Holding’s portfolio, and its first terminal in Italy.
Weak Iron-Ore Demand Weighs on Baltic Index
The Baltic Exchange's main sea freight index fell for a seventh straight session on Wednesday, as demand for shipping iron-ore fell in the Atlantic.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 1.6%, or 31 points, to 1,868 points. The index has still more than tripled since February, mainly driven by strong demand for vessels that ship iron ore from Brazil into China."A step back was witnessed during this past week in freight levels, as activity seems to have slowed down on the key Brazil – China route," Allied Shipbroking said in a note.
Beijing: U.S.-China Trade Talks 'constructive'
U.S. and Chinese negotiators wrapped up a brief round of trade talks on Wednesday that Beijing described as "constructive", including discussion of further purchases of American farm goods and an agreement to reconvene in September.The first face-to-face trade talks since a ceasefire was agreed last month amounted to a working dinner on Tuesday at Shanghai's historic Fairmont Peace Hotel and a half-day meeting on Wednesday, before U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin flew out."Both sides…
U.S. DOT Names Nine Marine Highway Projects
The U.S. Department of Transportation’s Maritime Administration (MARAD) today announced the designation of nine Marine Highway Projects and a Marine Highway Route that will benefit Connecticut, Florida, Michigan, New York, Oregon, Texas, Virginia, Washington State and American Samoa. Marine highways are navigable waterways that can be used as alternate options to traditional shipping methods. “The designation of marine highways by Congress will help move cargo and people to help grow the economy and shift freight off of congested highways,” said Transportation Secretary Elaine L. Chao.
Steel Cut on Second Costa Cruise Ship
The steel cutting ceremony of the second Costa Cruises ship build at Meyer Turku commenced with new traditions: The brand new plasma cutter line was used for the first time in a production start ceremony.Costa Cruises’ Costa Toscana will be the first ship benefiting fully from the new panel line of Meyer Turku. The panel line is just one of the major over 100 million euro investments inside the steel halls, the whole shipyard going through an investment program of 200 million euros.
ICS Weighs in on Proposed Panama Canal Tolls
Global Shipping Industry Delivers Comments to Official Consultation on Proposed Modifications to Panama Canal Tolls.The Panama Canal Authority (ACP) is conducting a public consultation on a proposal to adjust the Panama Canal tolls for containerships, vehicle carriers, dry bulk carriers, tankers, chemical carriers, LPG and LNG vessels, passenger vessels and small vessels. The proposed new toll charges are anticipated to enter into effect on 1 January 2020, the same day as the IMO ‘Global Sulphur Cap’ regulation.
ZEAMARINE Secures Largest Contract to Date
ZEAMARINE has successfully been awarded a large ocean transportation contract from Schenker Australia Pty Limited for the BHP South Flank Project in Western Australia. The project scope encompasses the transportation of approximately 450,000 freight tons from China to Port Hedland, Western Australia, with the majority of the cargo being heavy and oversized modules.ZEAMARINE will be utilizing its newly-built ZEA 14k-900 vessel type for the execution of the project. The F-900 vessels…
Iranian Ship Departs Brazil, Second Bulker to Follow
An Iranian ship called Bavand, which had been at the heart of a geopolitical spat between Brasilia and Tehran, set sail from Brazil on Monday after receiving fuel from state-run Petroleo Brasileiro , the port of Paranaguá said.Meanwhile, a second Iranian ship, the Termeh, which set sail from Paranaguá port two days ago, was on Monday heading to the southern Brazilian port of Imbituba, where it is due to pick up a shipment of corn before heading back to Iran.The ships were stranded after Brazil's state oil company, known as Petrobras, refused to sell them bunker fuel in the wake of U.S.
Panamax, Supramax Rates Drag Baltic Index
The Baltic Exchange's main sea freight index fell for a sixth straight session to a more than two-week low on Tuesday following weak demand for panamax and supramax vessels.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 1.2%, or 23 points, to 1,899 points, its lowest since July 12.The capesize index rose 4 points, or 0.1%, to 3,664 points. However, average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal…
DP World to Boost Turkish Capacity, Mulls Acquisitions
Port operator DP World intends to increase its capacity in Turkey's western Yarimca port by 30% with $50 million investment by Q2 2020, its Turkish unit's chief executive Kris Adams said.Speaking to reporters in Istanbul, Adams also said that DP World is also in the market for acquisition of other Turkish assets but is waiting for the right price."We would be willing to look at acquisitions in the Turkish market if opportunities arise," Adams told reporters."There are local players that are willing to exit the industry but they are still working with very high multiples.
Port of Oakland Okays Long-Term Lease for Box Logistics
Shippers Transport Express has deal to keep moving boxes away from docks. A program that accelerates Port of Oakland cargo flow has a new lease on life…literally. Port Commissioners last week approved a firm’s 13-year lease to continue moving loaded import containers off Oakland docks.The agreement keeps Shippers Transport Express on 32 acres at the Port’s Seaport Logistics Complex through 2032. The firm transports loaded containers from Oakland’s largest marine terminal to a less-crowded pick-up point nearby.
Baltic Index Dips as Panamax Rates Slide
The Baltic Exchange's main sea freight index fell to a more than two-week low on Monday, weighed down by weaker rates for panamax vessels.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 0.8%, or 15 points, to 1,922 points, its lowest since July 12. Nevertheless, the capesize index rose 13 points, or 0.4%, to 3,660 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $72 to $27,217.The panamax index fell 59 points, or nearly 3%, to its lowest in two weeks at 2,050 points.
China: U.S. Shipped 'several million tonnes' of Soybeans
The United States has shipped several million tonnes of soybeans to China since the two country's leaders met in June, Chinese state media said on Sunday, ahead of fresh trade talks in Shanghai this week.Chinese companies have made inquiries about buying U.S. soybeans, cotton, pork, sorghum and will continue to purchase U.S. agricultural goods if prices and quality remain reasonable, Chinese official broadcaster CCTV said on Sunday.The reports said the United States should take specific measures to make good on its promises to improve economic and trade ties.Reporting by Cate Cadell
SPA Nod for Maersk to Operate in All Saudi Ports
Saudi Ports Authority has issued a license to the local subsidiary of Maersk to operate in all ports in Saudi Arabia, state news agency SPA reported on Monday.Maersk currently has weekly containerised shipping services to the ports of Jeddah, King Abdullah, Dammam and Jubail, it says on its website. Reporting by Nafisa Eltahir
Fourth Global Regulatory Summit Held at FMC
Senior government officials from the European Union (EU), the People’s Republic of China (PRC), and the United States met Wednesday at the Washington, D.C. headquarters of the Federal Maritime Commission (FMC) to participate in the Fourth Global Regulatory Summit.Attendees represent the competition authorities responsible for regulating international liner shipping in the world’s largest liner trade lanes. The delegations were led by Director Henrik Morch from the Directorate General for Competition of the European Commission and Deputy Director-General YI Jiyong of the Water Transport Bureau…
Canadian Navy Awards ELMS2 Contract to BMT
BMT Group (previously British Maritime Technology) announced that it has been awarded the Engineering, Logistics, and Management Support 2 (ELMS2) contract by the Canadian Department of National Defence (DND).According to the provider of focused solutions to projects in the energy, ports, mining, defense and transport fields, the services will directly support the Director General Maritime Equipment Program Management (DGMEPM) and the Director General Major Project Delivery (DGMPD) (Sea).Under this contract…
DOT Secretary Chao Announces Infrastructure Grants
Department Proposes $856 Million in INFRA Grants. The U.S. Department of Transportation today announced $855,950,000 in proposed grants through the Infrastructure for Rebuilding America (INFRA) discretionary grant program. “This significant federal investment will improve major highways, bridges, ports, and railroads around the country to better connect our communities, and to enhance safety and economic growth,” said Secretary Elaine L. Chao. INFRA discretionary grants support…
Rotterdam Port Traffic at Record Volume
Trade volumes at the port of Rotterdam reached a record in the first half of the year, as Europe's largest port handled more container goods and imports of oil and liquefied natural gas (LNG).The Dutch port was cautious about prospects for the rest of the year, however, as international trade tensions and the uncertainty surrounding Brexit look set to curb traffic in the months to come."Relations between the world's major trading blocs remain strained and there is ongoing uncertainty about the introduction of trade tariffs post-Brexit"…
Brazil: No Trade Impact to Iran Shipping Impasse
Brazil's foreign trade secretary Lucas Ferraz said there are no signs that the impasse involving Iranian ships without fuel near Brazilian ports will affect bilateral trade relations.So far, Ferraz said, there has been no impact on Brazilian exports to Iran. The ships, scheduled to bring grains back to Iran, lack fuel for the journey because state-run oil company Petroleo Brasileiro SA refused to sell them bunker fuel due to U.S. sanctions on Iran.Reporting by Rodrigo Viga Gaier
Baltic Index Falls on Sliding Capesize Rates
The Baltic Exchange's main sea freight index fell for a second straight session on Wednesday to its biggest one-day decline in nearly six months, as rates for capesize vessels fell after a strong run.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 7%, or 151 points, to 2,014 points, its biggest one-day drop since January 31. The index has still more than tripled since February, mainly driven by strong demand for vessels that ship iron ore from…
Kick Off for Elbe River Dredging
Hamburg has announced the works for the adjustment of the fairway have started. With the arrival of the hopper dredger “Scheldt River” the deepening and widening works of the river Elbe have officially kicked off.The port is already megaship-ready and can handle the largest containerships with a slot capacity of over 20,000 TEU, as well as other mega-vessels. Suitable berths and terminal equipment make that right possible now. Irrespective of the tide, after the fairway adjustment…
Iran Grain Ships Stranded in Brazil due to U.S. Sanctions
Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States.The vessels Bavand and Termeh came to Brazil a couple months ago carrying urea, a petrochemical product used as fertilizer. They were expected to load corn and return to Iran, but lacked enough fuel for the trip, the port operator in Paranaguá told Reuters.Food is not covered by U.S.
Baltic Index at 5-1/2-year High on Iron Ore Demand
The Baltic Exchange's main sea freight index rose on Thursday to its highest since December 2013, driven by demand for vessels shipping iron ore in the Atlantic, pushing capesize and panamax indices to multi-year highs.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 3.2%, or 66 points, to 2,130, its highest since mid-December, 2013. The index has surged about 68% so far this year. The index extended gains for an eighth straight session, mainly…
Mnuchin: US, Chinese Call Could Produce 'in-person' Talks
U.S. and Chinese officials will hold a telephone call later on Thursday that could pave the way for further in-person trade talks, U.S. Treasury Secretary Steven Mnuchin told CNBC.Mnuchin, speaking from the G7 meeting in Chantilly, France, said he and U.S. Trade Representative Robert Lighthizer will participate in the call with their Chinese counterparts, adding that it follows an earlier discussion with their staffs."We'll see where we get," he said in an interview. "We continue to make progress.
VIKING Wins Breakthrough Order for HydroPen
The globally exclusive HydroPen distributor and leading safety solutions expert, VIKING Life-Saving Equipment, has announced the signing of a fleetwide contract with a major global container shipping operator to integrate the HydroPen System for container firefighting. Beyond the revolutionary system developed by Rosenby Engineering, the scope of supply also includes MED approved mobile water monitors, providing a further boost to the operators’ onboard fire safety setup.Closing the container safety gapWith the deal…
War Risk Costs Impact UAE Bunkers, Singapore benefits
Shippers trying to minimise time in the Middle East after oil tanker attacks pushed up insurance costs are scaling back purchases of marine fuels from the United Arab Emirates' (UAE) Fujairah oil hub, trade sources said.Instead, they are turning primarily to Singapore, the world's top refuelling hub, to buy marine fuels, also known as bunkers, with some diverting to smaller bunkering ports, including in India and Sri Lanka, the sources said.A tonne of 380-centistoke (cst) high…
Two Chinese Ports Halt Coal Imports
Chinese customs is no longer permitting coal cargoes to enter the country at the ports of Jingtang and Caofeidian, said three coal traders, who were told by customs officials of the halt on Tuesday.Customs officials at the port of Jingtang, one of China's biggest coking coal import points, and the neighbouring port of Caofeidian said they would halt customs declearation services from July 16 until further notice, the traders said on Wednesday.No reason was given for the service halt at the ports…
Van Oord Enacts Hopper Dredger Option
Van Oord has decided to use the option of ordering a third trailing suction hopper dredger at Keppel FELS Limited. The vessel is similar to the two vessels that Van Oord ordered in May 2018. Each one has a hopper capacity of approximately 10,500 cubic meters and measures 138 meters in length and 28 meters across the beam.This investment is part of a broader fleet renewal program in the Dredging business unit. The new hoppers will replace existing vessels and fit in with Van Oord’s aim of making its fleet state-of-the-art and more energy efficient.
US, Chinese Officials to Resume Trade Talks
U.S. Treasury Secretary Steven Mnuchin on Monday told reporters he expects to have another telephone call with Chinese officials this week as part of resumed discussions about a trade agreement.U.S. President Donald Trump and Chinese President Xi Jinping last month agreed to another truce in the year-long trade spat between the world's two largest economies.Mnuchin and U.S. Trade Representative Robert Lighthizer followed up with a phone call with Chinese trade officials last week, but no details have been released about an expected in-person meeting.
Baltic Index at 5-1/2 Year Peak as Capesize Demand Soars
The Baltic Exchange's main sea freight index hit a five-and-a-half-year high on Monday on the back of strong demand for capesize vessels shipping iron ore.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 3.4%, or 63 points, to 1,928, its highest since January 2014. The index has tripled since February. The index rose 7.2% last week for a fourth straight week, mainly driven by strong demand for vessels that ship iron ore from Brazil.A restart of Vale SA's Brucutu mine in Brazil in June…
Piraeus Bank mulls Asian Pacific partner for Shipping Financing
Piraeus Bank is looking into a strategic partnership with a major Asian Pacific financial conglomerate that will help it provide financing to Greek shipping companies, Greece's largest lender by assets said on Friday.Piraeus did not name the Asian partner, nor provide details of what form such a deal would take."This pioneering initiative forms part of Piraeus Bank’s continued commitment to the shipping community, through investment of international capital into existing opportunities and new financing to the shipping industry…
FMC Issues Notice to Passengers on Cuba Itineraries
The Federal Maritime Commission (FMC) is aware that passenger cruise lines that called Cuba have amended itineraries to comply with amendments made to the Cuban Assets Control Regulations announced in the Federal Register on June 5, 2019.Passengers with questions related to a voyage they have booked should contact their travel agent and/or cruise line directly.Cruise passengers should always carefully read their ticket contract, which states the cruise line’s obligations with respect to canceled voyages.
DESMI Ocean Guard wins Stolt Tanker Deal
Stolt Tankers B.V. and DESMI Ocean Guard A/S has announced that Stolt Tankers has selected the CompactClean Ballast Water Management System (BWMS) for installation on Stolt Tankers’ existing fleet.The agreement is to provide more than 60 chemical tankers with the CompactClean BMWS by the end of 2023. Most of the ships will be retrofitted with two CompactClean BWMS, one for each ballast pump. This has the advantage that the ships will maintain full redundancy on their ability to ballast and de-ballast…
Turkish Shipowners BWT Group Chooses Alfa Laval
Turkish Shipowners Ballast Water Treatment (BWT) Group has signed a fleet agreement for Alfa Laval PureBallast 3 systems, valued at approximately $22 million. Alfa Laval’s comprehensive offering in ballast water treatment, especially when it comes to service, was a key factor for the group.At the signing ceremony in Istanbul on July 4th, 2019, the around 50 members of the Turkish Shipowners BWT Group confirmed the decision to install PureBallast 3 systems on the group’s vessels.
DP World Hires Banks for Dollar Bond Issue
Port operator DP World has hired banks to arrange a series of investor meetings ahead of a potential issue of 10-year U.S. dollar-denominated sukuk, or Islamic bonds, a document issued by one of the banks leading the deal showed.DP World, majority owned by the Dubai government, mandated Citi, Dubai Islamic Bank and Standard Chartered to arrange the meetings to be held in Hong Kong, Singapore and London, starting on Wednesday July 10.The three banks, together with Barclays, Deutsche Bank…
Boxship Operators Opt for Navis Loading Computers
Twenty newly built container vessels in the size ranging from feeder segment 2,300 TEU to 15,100 TEU have been selected to be equipped with MACS3.Oakland, CA and Flensburg, Germany—July 2nd, 2019—Navis, the leading provider of maritime software solutions for efficient and compliant cargo and vessel performance, has announced that it has been selected as a partner for liner operator, Yang Ming and ship owner and ship manager ChinaNavigation and Eastern Pacific. Through this partnership…
Meyer Turku Wins Another Royal Caribbean Newbuild Deal
Royal Caribbean Cruises and Meyer Turku shipyard have signed an agreement (*) on the delivery of a third Icon class cruise ship, to be delivered from Turku in the spring of 2025. The previous Icon ships are to be delivered in 2022 and 2024. Icon ships will be approximately 200 000 gross tonnage cruise ships and will be powered by LNG.Meyer Turku has a long-standing history together with Royal Caribbean that was proven time and time again with many innovations and ships that were and are still the hallmarks of cruise ship building industry.
Connecticut Port Authority: the future is now
2019 brings new missions, strategies and new optimism for this three-port Northeast gateway.The Connecticut Port Authority began operations in 2016. The quasi-public agency’s mission is to grow Connecticut’s economy and create jobs by strategically investing in the state’s three deepwater ports and small harbors. In a nutshell, the Connecticut legislature teamed up with the governor to create the Connecticut Port Authority by statute in 2014.When it fully stood up, CPA’s first full time employee was none other than Evan Matthews, CPA’s Executive Director. He got right to work.
Tianjin Container Terminal Merger Announced
The board of directors (the “Board”) of the Company announced that on 30 June 2019, COSCO Ports (Tianjin) Limited (“CP Tianjin”)and China Shipping Terminal Development Co., Ltd. (“CSTD”), both being wholly-owned subsidiaries of the Company, entered into amerger agreement with Tianjin Port Holdings Co., Ltd. (“Tianjin Port Holdings”), China Merchants International Terminals (Tianjin) Limited(“CM Terminals”), Tianjin Port Container Terminal Co., Ltd. (“TCT”), Tianjin Five Continents International Container Terminal Co., Ltd. (“FICT”) and Tianjin Orient Container Terminals Co., Ltd.
Port Canaveral Wins Funding for Response Vessel
New fireboat will provide enhanced firefighting and rescue capabilities for maritime and commercial space. The Canaveral Port Authority will receive $1.5 million in funding from the State of Florida to support the acquisition of a specialized fireboat to provide marine firefighting and rescue capabilities for Port Canaveral and the surrounding communities. Port Canaveral’s Marine Firefighting Rescue Vessel (MFRV) will be purpose built to offer enhanced fire protection and response…
Valmet Scubbers for 10 COSCO Boxships
Valmet will supply exhaust gas cleaning systems (scrubber system) for ten container vessels of COSCO Shipping Lines Co., Ltd. The scrubber systems will be installed in existing vessels in China in 2019.The project is executed in co-operation with Health Lead Development Ltd.The order was included in Valmet's orders received of the fourth quarter 2018 and second quarter 2019. The value of the order will not be disclosed.Details about Valmet's deliveriesThe scrubber system delivery…
Delivering parts, fuel, mail over 52 million square miles
In Port and at Sea: NAVSUP Fleet Logistics Center Yokosuka Supports Navy Ships and Crews. Understanding how that happens can benefit commercial stakeholders, as well.As the post-Cold War Navy once again faces near-peer competitors at sea, it must reposition itself and step up sustainment of ships at home and abroad. While admittedly a goal in logistics is to provide material and services in a stable and predictable fashion, so that operations can proceed unimpeded, that goal sometimes runs counter to the unpredictable nature of military operations.
DP World buys Topaz Energy for $1 bln
Port operator DP World Plc will buy Topaz Energy and Marine Limited for $1 billion from Standard Chartered and Renaissance Services, DP World said on Monday.Topaz is a provider of marine logistics to the global energy industry. The deal is the latest in Asia-focused lender StanChart's efforts to sell its private equity business as part of a broader shift away from direct investing.Reporting By Lawrence White
Port of Oakland: $513.6 mln Approved for FY 2020
A $513.6 million operating budget for fiscal year 2020 has been approved at the Port of Oakland. The Port’s governing Board OK'd the spending plan at a meeting yesterday.The new budget is up about 4 percent from the one adopted for fiscal year 2019, the Port said. It goes into effect July 1.The budget projects revenue of $398 million at the Port in the next fiscal year. That would be up about 1.2 percent from anticipated FY 2019 revenue. Operating expenses are likely to increase 10.4 percent from the current budget, the Port said.
Singapore Suspends Inter-Pacific Petroleum's Bunker License
Singapore's Maritime Port Authority (MPA) has suspended the bunker craft operator licence of Inter-Pacific Petroleum Pte Ltd, the MPA said in a statement on Thursday.The MPA suspended the license, which allows Inter-Pacific to operate tankers used to load marine fuel, known as bunker fuel, onto ships, with effect from June 27 until further notice, the statement said.The license suspension occurred after "an enforcement check on a bunker tanker operated by Inter-Pacific Petroleum…
Hopes for U.S.-China Trade Truce Boost Markets
Risk appetite returned to world markets on Thursday following a media report the United States and China have tentatively agreed to a truce ahead of a highly-anticipated weekend meeting of the two nations' leaders in Tokyo.The South China Morning Post (SCMP), citing sources, said Washington and Beijing were laying out an agreement that would help avert the next round of tariffs on an additional $300 billion of Chinese imports.On Wednesday, U.S. President Donald Trump said a trade deal with his Chinese counterpart Xi Jinping was possible this weekend…
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
China, U.S. Trade Officials Talk Shead of Trump-Xi Meeting
Senior Chinese and U.S. trade officials spoke by telephone on Monday ahead of talks between Chinese President Xi Jinping and U.S. President Donald Trump set for later this week, as the world's two largest economies remain locked in a tariff war.Trump and Xi are expected to meet on the second day of the Friday-Saturday Group of 20 summit in Japan, the first face-to-face meeting for the leaders since trade talks broke off in May.Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S.
Storm Approaching: Firms Fear IMO's 2020 Rules
U.S. furniture company RC Willey Home Furnishings is so concerned that new global clean air rules will cause transport disruption that it brought forward the shipment of arm chairs and sofas from China by two months.The tougher regulations, set by the United Nations shipping agency, the International Maritime Organization (IMO), come into force on Jan 1. Costs will rise for ships towards the end of this year and there will be a knock on effect for trucks and other transporters…
Oceanwide Expeditions: another Ship on Order
Due to the success of our new Polar Class 6 ship, Hondius, Oceanwide Expeditions has ordered a sister ship built by the same manufacturer: M/v Janssonius is scheduled to be completed in October, 2021. She will have the same passenger capacity as Hondius (174), a nearly identical size and design, and will be a Polar Class 6 ice-strengthened vessel equivalent to a 1A super ice-class ship.Like Hondius, Janssonius will come equipped with a number of advanced systems and features specifically designed for safe…