MOL Acquires Seafarers Manning Company
Japan's Mitsui O.S.K. Lines (MOL) has announced that MOL acquired 100% of the issued shares of Azalea Maritime B.V. on December 21st, 2017. Azalea Maritime changed its name to "MOL Maritime (Europe) B.V." on January 1st, 2018. MOL will enhance providing top-quality seafarers for MOL-operated LNG carriers and tankers and continue to aim to become a world leader in safe operation. MOL Maritime (Europe) B.V. as a manning company, will continue to support MOL safe operation, while inheriting Azalea Maritime's accumulated experience with European seafarers and know-how of the manning business.
Attack on Saudi Oil Tanker Thwarted
The Saudi-led coalition fighting in Yemen said on Wednesday it had thwarted an attack on a Saudi oil tanker over the weekend by Houthi fighters near the Red Sea port of Hodeidah. The coalition destroyed a boat carrying explosives as it headed towards the tanker on Saturday, coalition spokesman Colonel Turki al-Maliki said. Yemen lies on the southern mouth of the Red Sea, one of the world's most important trade routes for oil tankers, which pass Yemen’s shores while heading from the Middle East through the Suez Canal to Europe.
Portland Port Preps for Record Cruise Season
Portland Port says its 2018 cruise season is going to be another record breaker, with the greatest number of cruise calls and passengers to date. Overall the U.K. port is expecting to handle 32 cruise ships bringing nearly 39,000 passengers into Portland. Over the last 10 years the numbers have grown substantially from just four calls and 2,000 passengers in 2009 to the record breaking figures for 2018 – a trend that Portland Port says it is keen to continue. The port’s cruise season starts on April 3 with the visit of German cruise line Phoenix Reisen’s Albatros.
Crystal Nordic Sold to Essberger Tankers
Nordic Tankers and Embarcadero Maritime (a joint venture between Borealis Maritime and KKR) have signed and closed an agreement to sell the jointly held company Crystal Nordic to John T. Essberger in Hamburg, a leading owner and operator of chemical tankers in Europe. Crystal Nordic was established following the combination of Nordic Tankers’ inter-European stainless steel chemical tanker business with Crystal Pool in 2015. The parties have agreed not to disclose any financial information.
Pecém Cargo Volume up by 19%
APM Terminals Pecém reported a 19% annual increase in container handling volumes as the gateway port to northeast Brazil. APM Terminals Pecém, which is the container operator at the Port of Pecém which is managed by the state-owned company CIPP (former Cearaportos), handled 130,008 moves (213,951 TEUs – twenty-foot equivalent units) in 2017 a new volume record. Daniel Rose, Managing Director of APM Terminals Pecém said “We have been working closely with our shipping line customers and our landside customers to ensure they had the port service levels needed to grow their business.
Suez Canal Revenues Rise to $5.3 Bln
Egypt's Suez Canal revenues rose to $5.3 bln in 2017 from $5 bln in 2016, a statement by the Canal authority said on Thursday. The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency. Its revenues were at $462.7 million in Nov. 2017. Reporting by Youssri Ahmed; Writing by Nadine Awadalla
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…
Green Shipping: Cargo Carriers Clutch at Compliance
LNG looms as the bridge to a ‘zero emissions’ future for shipping. The advent of industry wide tightening of allowable sulfur emissions is getting nearer. Suddenly, with the deadline now just one year away, the countdown clock will very soon be ticking much louder. Simply stated, the cap on allowable sulfur content in marine fuels, presently at 3.5 percent in many geographical regions, will be reduced to 0.5 percent in January 2020. The 0.1 percent sulfur cap, already in effect since 2015 in coastal Emissions Control Areas (ECAs) in Europe and North America, will remain.
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…
Hyundai Glovis Bags $1.3bln Contract
Hyundai Glovis, a logistics company headquartered in Seoul and part of the Hyundai Kia Automotive Group, has secured 1.42 trillion won (US$1.3 billion) in orders to ship vehicles, said a report in RTT News. The auto freight unit of South Korea's Hyundai Motor Group quoted as saying that the orders are to ship vehicles built by Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. The report said that, under the two separate deals, Hyundai Glovis said it is set to ship Hyundai and Kia cars to the United States, Europe, the Middle East and Asia until December 2019.
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.
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…
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.
Gulf Petrochem Bolsters its European Bunkering Division
Gulf Petrochem Group (GP) has strengthened its bunker trading team in Europe with the appointment of Maxime Cramer to the group’s Rotterdam office . He joins a team of bunkering traders headed up by Chris Todd in Europe’s largest bunkering port, Rotterdam. Cramer has in-depth knowledge and vast experience on both the customer and supply side of the business, having previously held trading positions with OW Bunker and Minerva Bunkers. The appointment of Cramer will further bolster GP’s global bunkering division which is currently headed up by Chris Todd…
CMA CGM Strengthening EURAF 5 Services
CMA CGM has announced the strengthening of its position on Europe > West Africa route by becoming vessel operator on its current service EURAF 5. Effective April 5th, 2017, CMA CGM operates 2 vessels on EURAF 5 between North Europe and West Africa South Range. With a weekly frequency, EURAF 5 connects Europe to Angola, the Republic of Congo and the Democratic Republic of Congo. Cameroon is served on a fortnightly basis. Reefer cargo from Abidjan relies on a direct service to Europe with very fast transit times. Antwerp is reached in 15 days, Le Havre in 18 days, Lisbon in 21 days.
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…