MET International Plans to Boost LNG Trades
Switzerland-based MET International AG plans to boost its liquefied natural gas (LNG) trades in Europe by 50 to 100 percent next year, the company's chief executive said on Tuesday. Gyorgy Vargha said that while the company had traded one cargo, or 60,000 tonnes of LNG, per month this year, this is expected to rise to between 1.5 and two cargoes per month in 2018 as MET seeks to increase its role in that segment. MET International was established in 2010 as the natural gas trading arm of parent MET Group…
La Spezia Terminal Team to Tour Asian Cargo Hubs
Italy’s gateway container terminal in La Spezia, operated by the Contship Italia Group is set to embark upon on a tour of strategic supply-chain hubs in Asia. Contship’s senior management will visit key cities in China – Shanghai, Dalian and Shenzhen to promote La Spezia Homeport as the gateway to Italy and the markets of South and Central Europe. They will conclude their tour with a visit to Taiwan. This is the first visit to Asia undertaken by the Contship team since La Spezia Container Terminal won “Best Container Terminal - Europe” at the 2017 Asian Freight…
Antwerp Port in Full Sustainable Transition
The first Sustainability Congress was held on Tuesday 10 October with the launch of the fourth Sustainability Report which fully incorporates the 17 Sustainability Development Goals of the United Nations. On this occasion the Port of Antwerp community also presented its revamped website with case studies and the latest information on the sustainable transition currently being implemented by companies in the port. And to cap it all Antwerp Port Authority, the logistics service providers and transport operators in the port jointly signed the Operation Clean Sweep charter.
Hapag-Lloyd to Offer reUse Container Management Services
Avantida said Hapag-Lloyd has become the first ocean carrier in the U.K. to offer its reUse container management services through the Avantida platform. The application allows the re-use of import containers for export shipments of the same shipping company. "As part of the ocean lines continuous efforts to improve their services and align with their corporate policies, Hapag-Lloyd in the U.K. has joined 13 European ocean lines that have already adopted the Avantida platform, which streamlines all requests with regard to container re-use and drop-off or pick-up changes…
Bahri Reinforces Americas Commitment
Reinforcing its three-decade-long presence in North America, transportation and logistics firm Bahri took part in Breakbulk Americas, being held from October 17-19, in Houston. The Bahri booth at Breakbulk Americas was opened by Mr. Sultan bin Abdullah Al-Angari, Consul General of Saudi Arabia in Houston, during a ribbon-cutting ceremony on the first day of the annual event in the presence of Amal Al-Ruwaii, Director for Trade and Investment, Embassy of the Kingdom of Saudi Arabia in United States of America…
Q88 LLC Opens Office in Athens
Q88 LLC, a software as a service technology provider to the maritime industry, has opened an office in Athens, Greece. According t o the company, the new office further increases the its presence in Europe and will serve as a key hub for client relations and business development. “The Greek shipping community is so important to our success as a company and the industry as a whole. Having a presence in Greece is something we are very excited about. The Athens office will allow us to further strengthen relationships in the region and allow us to tap into the pulse of the industry…
Capacity Culls Insufficient to Reverse Rate Slump: Alphaliner
The idle containership fleet has reached its highest level in five years, with over 1 Mteu of vessel capacity currently unemployed. Carriers are removing capacity on most main tradelanes in response to weak market demand, with the Asia to Europe route witnessing some of the most drastic cuts. Of the 21 strings operated by the four main carrier alliances in the Far East to North Europe trade, two have been withdrawn by the ‘Ocean 3’ and 2M partnerships. The G6 and CKYHE meanwhile…
Suez Canal Revenues Fall
Suez Canal revenues fell 2.2% month-on-month in September 2017, according to official data. Revenues amounted to $459.8 million in September 2017, versus $470.6 million in August 2017, the data showed. However, Suez Canal Authority (SCA)'s revenues raised by 3.4 per cent within the period from January-October 2017, increasing to $US4.3 billion up from $US4.2 billion in 2016. The chairman of SCA and SCZone (Suez Canal Economic Zone) Mohab Mamish said that that the number of ships crossing the canal waterway increased by 2.9 per cent…
Containership Receives a Special Welcome
The world’s largest containership received a special greeting when it arrived for the first time at Germany’s sole deepwater port. On October 16, EUROGATE welcomed the 21,413 TEU OOCL Germany at its container terminal in Wilhelmshaven, where employees had arranged containers on the stowage area to write out the ship’s record-setting TEU capacity. “Although we are in the meantime witnessing the world’s largest container vessels at Wilhelmshaven on a weekly basis, each occasion is still something very special,” said Mikkel Andersen, Managing Director of EUROGATE Container Terminal Wilhelmshaven.
STX Group’s Plan to Sell 20% Stake in STX OSV
In response to the various media articles relating to the STX Group’s plan to sell a 20 percent stake in STX OSV Holdings Limited ("STX OSV"), the Board of STX OSV understands after clarification with STX Europe Holding AS (“STX Europe”), that STX Europe is continually exploring opportunities in relation to any strategic option of its interests in its subsidiaries including, STX OSV. The Board of STX OSV further notes that STX Europe is subject to and understands that STX Europe will comply with a lock-up period for its interest in STX OSV which ends 12 months from 12 November 2010…
Pirate Attacks Still a Major Concern -Sailors’ Society
Global piracy continues to be a concern in the Gulf of Guinea, Southeast Asia and Venezuela, according to statistics released yesterday by the International Chamber of Commerce’s International Maritime Bureau (IMB). In the first nine months of 2017, 121 incidents of piracy and armed robbery against ships were reported, including 92 vessels boarded with five hijackings, 11 attempted attacks and 13 vessels fired upon. While this is a decrease compared to statistics from the same period in 2016…
Global Logistics Index Hots Lowest in Four Years
The index that tracks shipper and freight forwarder confidence in the activity of the U.S.-Europe and Asia-Europe shipping lanes hit its lowest level in December in the index's nearly four-year history, reports Reuters. It has hit by lower margins for European freight forwarders such as Denmark's DSV because of overcapacity in shipping. The "Stifel Logistics Confidence Index," published by U.S. investment firm Stifel Financial Corp. and U.K.-based consultancy Transport Intelligence…
STX Europe Sells Shares in STX OSV Holdings Ltd.
STX Europe Holding AS, a wholly owned subsidiary of STX Europe AS (STX Europe), has agreed to sell part of its equity interests in STX OSV Holdings Limited (STX OSV) to investment funds affiliated with OZ Management LP (Och-Ziff). The placement of 215,590,000 ordinary shares by STX Europe will be at a price of S$1.33 per share. This amounts to approximately 18.27% of the total issued share capital of STX OSV. Following the sale, STX Europe will hold 598,851,000 shares in STX OSV equal to a majority shareholding of 50.75%.
Dittmann Named Chairman of SEA Europe
Kjeld Dittmann, the Managing Director of Lyngsø Marine A/S, is the new Chairman of the European Ships and Maritime Equipment Association (SEA Europe). He succeeds Govert Hamers, CEO of Vanderlande Industries in the Netherlands, who has completed his term as Chairman. The announcement was made at the SEA Europe Annual General Meeting in Istanbul on June 26 hosted by the Turkish Association of Ship Industrialists (full member of SEA Europe). “SEA Europe has established a strong voice in Brussels for both Europe’s shipyards and equipment suppliers…
Maersk Cuts 16% West Central Asia-Europe
Maersk Line, the container shipping unit in the A.P. Moller-Maersk group in Copenhagen, says it will cut about 16% of its capacity on the West Central Asia-Europe trade lane. "In our continuous effort to provide our customers with an attractive and competitive West Central Asia / Europe network - both in terms of capacity and coverage - Maersk Line is enhancing the ME1, ME2 and ME3 services and discontinuing the ME5 service with effect from October 2015," says a statement from the company.
Bleak Outlook for Asia-Europe Ocean Container Sector
Maersk Line cuts further capacity on the Asia-Europe trade on low demand, cuts AE5 service permanently & suspends the AE9 service. “We do not expect volume growth on the Asia-Europe trades this year so there is currently no need for the number of ships sailing”, says Vincent Clerc, Chief Trade & Marketing Officer for Maersk Line. “We expect a 3% slump on the Asia-Europe container trades for 2012 and are taking steps to adjust to this without reducing our market position”. “Further to the 9% capacity reductions we made earlier this year…
STX Europe New Contracts, Island Offshore
STX Europe has entered into new contracts with Island Offshore for the building of two Platform Supply Vessels. The vessels will be built at STX Europe in Brevik, and are based on the same design as Island Commander and Island Chieftain delivered from STX Europe earlier this year. The vessels are scheduled for delivery in Q4 2011 and Q1 2012. The total value of the contracts amounts to approximately $137.5m. The vessels are of Rolls-Royce UT 776 CD design, and will be number five and six in this series delivered from STX Europe to Island Offshore.
Change of Management at Yanmar
Having reached the age of retirement, Geert Jan Mantel will resign from his position as President of Yanmar Europe B.V. as per June 30, 2014, a position he has occupied since April 1, 2002. He will simultaneously step down as Managing Director of the Yanmar Co. LTD Board of Directors in Osaka, Japan. He has served as a member of the Board since June 2009. Mantel will take the position as Corporate Advisor for the three newest 100% Yanmar owned subsidiaries in Europe, namely Yanmar Construction Equipment Europe S.A.S. of Saint-Dizier in France, Vetus B.V.
CKYHE Revises Asia-Europe, Med network
The CKYHE Alliance is reorganizing its service network for Asia-Europe and Asia-Mediterranean trades as the carriers try to counter the weak demand and excess capacity that is plaguing the route and dragging down freight rates. Members of the CKYHE alliance, one of the four major groupings covering the east-west trades, have agreed to reorganise their service network for the Asia-North Europe and Asia-Mediterranean trades this year. The Alliance is cancelling one of its six weekly strings between Asia and North Europe, as utilisation levels plummet and freight rates hit rock bottom.
Little Change for November’s Logistics Confidence Index
Little month-to-month change as the November Stifel Logistics Confidence Index increased only 0.1 points to 59.0. Compared to November 2013, the overall index is up 1.9 points however, this is down from the October year-over-year increase of 3.8 points as noted in last month’s analysis. Is this an indication of an economic slowdown or is it simply due to the time of year? The present situation sub-index suggests it could be related to an economic slowdown. For airfreight, November 2013 data indicates strong gains were made.
Commander, Task Force 64 Established
U.S. Naval Forces Europe-Africa established Commander, Task Force 64, a command focused on Ballistic Missile Defense in Europe, in ceremony held in Naples Italy. Commodore Jeffrey Wolstenholme assumed command of the newly established Commander, Task Force 64 (CTF 64) during a ceremony held on U.S. Naval Support Activity Naples, Capodichino, in Naples, Italy March 24, 2016. U.S. Naval Forces Europe-Africa (NAVEUR-NAVAF) and U.S. Fleet Forces Command established CTF 64 to create a command focused on Ballistic Missile Defense (BMD) in Europe. Commander, U.S. 6th Fleet, Vice Adm.
STX Europe to Build Simon Møkster PSV
STX Europe has entered into a new contract with Simon Møkster Rederi for the building of a Platform Supply Vessel (PSV). The vessel is of STX Europe PSV 09 CD design, featured with the new environmental friendly hull lines optimized for eco-drive in all weather conditions. The vessel is scheduled for delivery in Q4 2011. Roy Reite, President of STX Europe's Offshore & Specialized Vessels business area, said "We look forward to continuing the good cooperation with Simon Møkster Rederi. The vessel is arranged for regular platform supply duties.
Atlantis Chief Joins Ocean Energy
Tim Cornelius, CEO of global tidal developer Atlantis Resources has taken a seat on the Board of Directors of Ocean Energy Europe – the industry group for ocean renewable energy – by becoming a Lead Sponsor of the organisation. The move reflects Atlantis’ position as a leading developer of commercial tidal power projects and underpins its commitment to driving the market for ocean renewable energy. Following its acquisition of pioneering tidal company Marine Current Turbines earlier this year…
Vitol Returns for $8 Bln Loan Refinancing
Geneva-headquartered energy and commodities trader Vitol has signed an US$8bn loan refinancing of credit facilities agreed in October 2016, the company announced on Wednesday. The revolving credit facility, which is used for working capital and general corporate purposes, comprises a three-year tranche and a 364-day tranche. The three-year tranche totals over US$7bn. ABN AMRO Bank, Commerzbank, Credit Agricole CIB, HSBC Bank and ING Bank were active bookrunners on the transaction.
Hapag-Lloyd Boosts Direct EAX Service Between Europe and Australia
German liner company Hapag-Lloyd has further improved the Europe Australia Express service (EAX), one of its prime products. New port calls in Fos sur Mer and Pointe de Galets / Short transit times from Europe to Australia unchanged / Italian port switched to Salerno on Northbound leg. According to a media statement from the company, as of December, the French ports Fos sur Mer and Pointe de Galets (La Réunion) will be added to the EAX rotation on the Southbound leg. Furthermore, the Italian call on the Northbound leg will be switched from Genoa to Salerno.
MSC to Optimise Capacity on Asia-Europe Network
MSC has announced plans to optimise all of its Asia-Europe services. The changes, which will be implemented progressively over the coming months will include: port combinations, vessel rotations and capacity deployment. Since the launch of the new Asia – Europe network in January 2015, MSC has continually analysed its performance. As of May 2015, the Asia – North Europe trade was reported to be performing at 92.1% reliability*. The optimisation is expected to sustain and improve…