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Monday, January 27, 2020

Far East News

Image: Port NOLA

Port NOLA Sets New Box Record

Louisiana’s only international container port Port of New Orleans (Port NOLA) moved more containers in 2019 than at any time in its history, totaling 648,538 twenty-foot equivalent units (TEUs), up 10% compared to one year ago.The multimodal gateway for global trade said in a press release that the record marks the sixth consecutive year the Port surpassed the half million TEU-mark at its Napoleon Avenue Container Terminal, which is operated by New Orleans Terminal and Ports America.“Port NOLA has now seen double-digit growth in total container volumes for two consecutive years…

Patrik Berglund (Photo: Xeneta)

Xeneta's Year Ends High, Concerns Remain

Xeneta has ended 2019 with a second month of increases in long-term contracted ocean freight rates across key trading routes.According to the latest XSI Public Indices report from Xeneta  global rates climbed by 0.9% in December (adding to a 0.9% rise in November). However, despite the welcome upswing, after well over a year of steady decline (with the exception of a spike in May), market confusion concerning IMO 2020 sulphur surcharges still remain.Moving in the right directionXeneta’s XSI Public Indices report utilizes over 160 million data points…

Source: BIMCO, Clarksons, IMF

BIMCO: Supply & Demand Trending Off-Balance

One of the most worrying trends that has developed recently - which will affect shipping demand in the years to come - is the falling trade-to-GDP ratio. The falling ratio can be explained by slowing globaliztation as well as increasing protectionist measures being implemented around the world, spear headed by the US. The raised barriers to trade are here to stay as we enter a new decade, with the shipping industry stuck with the consequences.The trade war is the clearest example of these extra barriers to trade…

Image: SAL Heavy Lift

Three More Vessels Join SAL Heavy Lift

SAL Heavy Lift, a carrier specializing in sea transport of heavy lift and project cargo,  announced that it will expand its fleet with three heavy lift vessels with 800t lifting capacity in early 2020.The three vessels - “MV Hanna”, “MV Klara” and “MV Lisa” - will come to serve breakbulk and heavy lift clients on world markets via SALs well known Semi-Liner Service, but will also potentially offer new service options.When the new year 2020 dawns, SAL will see its fleet expanding…

Image: Royal Boskalis Westminster

Boskalis Completes Horizon Acquisition

Dutch dredging and heavylift company Royal Boskalis Westminster has acquired the remaining 37.5% in the United Arab Emirates’s Horizon Group, a company specializing in the provision of marine geophysical surveys and geotechnical services.Earlier this year, Boskalis already acquired 62.5% of the shares. The 2019 revenue is expected to exceed USD 100 million and the activities will be consolidated as of 2020.Following this transaction, Boskalis will be able to optimize its successful…

Source: BIMCO, WTO

BIMCO: Tanker Shipping and Macroeconomics Outlook

World growth and trade volumes under pressure, but still positive. A continued slowdown in global growth, as well as a lower trade multiplier will reduce overall demand for shipping for the rest of this year and through 2020.Expectations for global trade growth have also been lowered for 2020; this is now forecast at 2.7%, down from 3%. The WTO cautions that risks to these forecasts are weighted to the downside, with these risks including a potential deepening of trade tensions…

Photo: Cosco Shipping Group

Cosco Acquires Stake in Greek Intermodal Firm

OceanRail Logistics, part of the Cosco Shipping Group, acquired 60% of the Greek railway company Piraeus Europe Asia Rail Logistics (PEARL) as part of its plan to develop its intermodal transport services network.OceanRail specializes in sea-rail intermodal transport with the Piraeus Port as the hub and related logistics business, while PEARL is a Greece-based company engaged in railway operations.The China-Europe Land-Sea Express Line, which starts from the Piraeus Port in Greece and expands to the hinterland of Central and Eastern Europe…

Pic: TORM

Product Tanker Freight Rates Rebounds

Product tanker freight rates softened in the third quarter of 2019 but rebounded strongly at the start of the fourth quarter following an increase in crude tanker rates that began after the attacks on Saudi Arabian oil facilities and accelerated dramatically to multi-year high levels at the end of September when the US imposed sanctions on two subsidiaries of China's COSCO Shipping.Denmark-based TORM said that growth in global demand for oil products generally remained subdued…

Patrik Berglund, CEO & Co-founder. Photo: Xeneta

Xeneta Expects Further Disruption in Container Rates

Further disruption in ocean freight rates expected despite best efforts from leading carriers, according to Xeneta Container Rates Alert.Long-term contracted ocean freight rates for carriers continued their downward trend through the month of October, it pointed out.The latest freight data from the XSI Public Indices report from Xeneta shows a continued drop in contracted freight rates as the industry heads into the key seasonal months.Rates on a number of key routes have continued a steady downward slide since early summer but have yet to fall below the levels seen one year ago…

Kimberly Oropesa (Photo: ShipMoney)

ShipMoney Expands in the Far East

Specialized global maritime payments provider ShipMoney continues to expand its presence in the Far East with a new appointment in The Philippines.The company has hired Kimberly Oropesa to join its team in Manila. Kimberly has worked in sales and marketing since graduating in 2013. For the past three years she has worked in the maritime sector and was the Soroptimist International Women’s Opportunity Awardee in 2013 for being an inspiration to her fellow women. Kimberly will be…

Caption: Accumulated container volumes on the Far East – Europe trade lane are up 4.6% y-o-y. The CCFI has fallen to an index level of 987, down -9% from the same period last year. 2 (Chart: BIMCO)

BIMCO’s Sand to Offer Boxship Insight in Athens

BIMCO’s Chief Shipping Analyst, Peter Sand, will be speaking and providing the audience with unique insights on the container market at the European Shipping Seminar on November 27, 2019 in Athens, Greece.The European Shipping Seminar, hosted by S&P Global Platts, will discuss the various topics relating to the commercial shipping markets and take a deep dive into how the shipping industry will navigate its way through the uncertain environment of the IMO 2020 Sulphur Cap.Container shipping outlookBIMCO has persistently stressed that trade wars and protectionism are negative for shipping.

Edoardo Podestá (Photo: Dachser)

Podestá Named COO of Dachser Air & Sea Logistics

Dachser appoints Edoardo Podestá as the Chief Operations Officer (COO) of the Air & Sea Logistics business field. Podestá replaces Jochen Müller in this position.Dachser and the current COO Air & Sea Logistics, Jochen Müller, have mutually agreed not to extend his contract when it expires in 2020. Jochen Müller will stop working for Dachser with immediate effect.In recent years, Jochen Müller was responsible for developing the air and sea freight business into a network company with operations worldwide…

Graph: Photo, CTS

BIMCO: Fleet Growth, Ship Size Up

Global growth in container volumes has picked up slightly in the second quarter of the year, with growth in the first seven months reaching 1.2%, compared to the just 0.8% in the first quarter.Global growth in container volumes has picked up slightly in the second quarter of the year, with growth in the first seven months reaching 1.2%, compared to the just 0.8% in the first quarter. Despite this rise, the growth figure remains substantially below what the industry has been used to…

Pic: Port of New Orleans

Port NOLA President Says Volume is Booming

Port of New Orleans (Port NOLA) President and CEO, and New Orleans Public Belt Railroad Corporation (NOPB) CEO Brandy D. Christian highlighted record volumes and bold vision for the future in the 2019 State of the Port address.Christian outlined key short- and long-term strategies to capitalize on current momentum and to create opportunities in the future. In the address titled “Opportunity Calls, We Answer,” Christian attributed the successes to collaboration and partnerships…

Port of Liverpool (Photo: Peel Ports)

Yang Ming Hails New Liverpool Service

A new express feeder service to Liverpool has smashed its initial targets almost immediately after launching in June, underlining demand for a direct Far East call at the port.The weekly Yang Ming service from Southampton is now operating at 150 boxes per week, three times more than expected, transporting mainly retail goods to distribution centers in the North West.B&M is one of the national chains driving this growth and is saying it would move 100 per cent of its cargo from…

Pic: FESCO

Expansion for Far East and Trans-Siberian Railway

FESCO Transportation Group, the largest intermodal transport operator in Russia, and Polish rail operator PCC Intermodal S.A. agreed on developing services of expedited cargo delivery from Japan, South Korea and China to European countries and vice versa through the Far East and Trans-Siberian Railway.The agreement of intent was signed during the Eastern Economic Forum.Using their experience and expertise, the companies are going to work on increasing the volumes of transit cargo shipped with Trans-Siberian Landbridge service launched this summer…

Arctic LNG 2 project of Novatek. Image: Novatek

SHI, Zvezda Partner in Arctic LNG 2 Carriers

South Korean shipbuilder Samsung Heavy Industries (SHI) has announced that it has signed a contract to assist Russian shipyard Zvezda Shipbuilding Complex with the construction of icebreaker LNG carriers for the Arctic LNG 2 project.According to a statement, SHI is selected by Zvezda Shipyard as the partner for the construction of Arctic LNG carriers in Russia thanks to SHI's expertise and technological prowess.The two sides have also confirmed the establishment of a joint venture for cooperation on shuttle tankers where SHI has the highest market share…

File Image: AdobeStock / © Carabay

McQuilling Mid-Year Tanker Market Outlook

McQuilling Services Announces the Release of the 2019 Mid-Year Tanker Market Outlook Update.The Mid-Year Tanker Market Outlook Update provides an outlook on the global tanker market in the context of global economic growth and oil fundamentals influencing tanker demand and vessel supply. The outlook includes a view on future asset values, time charter rates, market freight rates and TCE revenues for 24 major tanker trades and four triangulated routes across eight vessel segments for the second half of 2019 through the remaining four years of the forecast period 2019-2023.

A typical, one-of-a-kind, multi-purpose offshore transfer of cargo. CREDIT: AAL

Trust and Independence:

Key metrics for a consolidating market of Multi-Purpose Vessels.The multipurpose sector has experienced a tough first half of 2019, following a trend of difficult market conditions spanning over a decade. Fallout from ongoing global political trade discussions is taking its toll on both project and commodity trades, cutting down volumes at a time when external competition from non-MPV carriers is at its most fierce and the MPV fleet is still struggling with overcapacity. Still…

Joseph F. Harrington (Photo: APC)

APC Announces Retirement of Harrington

Advanced Polymer Coatings (APC) has announced the retirement of Joseph F. Harrington after 25 years with Advanced Polymer Coatings. In 1994 he was approached by Don Keehan, Chairman of Advanced Polymer Coatings, to further develop the Marine Coatings industry with APC’s MarineLINE high-performance coating. Today MarineLINE is the industry leader in high performance coatings for the chemical tanker industry.APC President David Keehan says, “Joe Harrington has had a remarkable track record of 59 years in the coatings industry.

MSC GULSUN,  the largest container ship in the world, transits the Suez Canal for the first time 9 August 2019. CREDIT: SCA

23,756 TEU “MSC Gulsun" Transits Suez Canal

Admiral Mohab Mameesh, Chairman of the Suez Canal Authority and Suez Canal Economic Zone, announced the successful transit of MSC GULSUN, the world’s largest container vessel, on its first trip through the New Suez Canal. The Panamanian ship transited the Canal with the northbound convoy, heading to North Western Europe from the Port of XINGANG.As per protocol in the Suez Canal Authority on receiving mega vessels transiting for the first time, Admiral Mameesh, presented the ship’s master with a bouquet of flowers and the Suez Canal Authority’s shield…

Sandeep Seth (Photo: Goltens)

Goltens Appoints Seth as President

The Goltens Worldwide group of companies has announced the appointment of Mr. Sandeep Seth as President. Seth first joined Goltens in 2002 and has steadily climbed the ranks, serving in positions of progressively increasing responsibility. Seth will continue to serve as a member of the Board of Directors.Seth has most recently served as the Vice President Asia Pacific and Vice President Finance of Goltens Worldwide. In these positions, he has overseen the operational, business development and financial aspects of the organization in the Asia Pacific region.

Arctic shuttle tanker Mikhail Ulyanov equipped with ABB’s RDS system, by the Prirazlomnaya offshore platform (Photo: ABB)

ABB Enhances Safety of Sovcomflot’s Arctic Fleet

ABB has won a contract to supply ABB Ability Remote Diagnostic Systems for Marine to eleven Sovcomflot vessels operating in the Arctic and Russia’s Far East, helping optimize safety and performance through 24/7 remote support.Sovcomflot’s vessels will be among over 1,000 ships connected to ABB Ability Collaborative Operation Centers worldwide. From here, ABB experts monitor operational shipboard systems, coordinate remote equipment diagnostics and offer predictive maintenance services – 24/7. This can be especially crucial for vessels operating in remote areas.

© mandritoiu / Adobe Stock

Drewry: Box Terminal Utilization Rates to Rise

The outlook for global container port demand is modest growth and numerous uncertainties, but in the face of this, capacity expansion plans are also muted. This means that most world regions will see an increase in average terminal utilization, according to the Global Container Terminal Operators Annual Review and Forecast 2019 by global shipping consultancy Drewry.Drewry’s container port demand forecast for the next five years is for global growth of 4.4% per annum on average…

Logo: Xeneta

Xeneta: Trade War Impacting on Far East

Look beneath the surface of a relatively calm month for long-term contracted ocean freight rates and, says Oslo-headquartered Xeneta, industry observers will see a maelstrom of activity, adjustments and market uncertainty.According to the latest XSI Public Indices report from Xeneta, the leading ocean freight rate benchmarking and market analytics platform, July saw a marginal decline in rates of 0.4%, with a marked fall in the Far East export benchmark. Meanwhile US exports and European imports performed well.The global index has now fallen by 2.4% since its all time high in May this year…

Pic: Ports of Sines and the Algarve Authority

Port of Sines Receives Milan Maersk

Port of Sines, the first largest artificial port of Portugal, said that its Terminal XXI received, on July 21, the call of “Milan Maersk”, one of the world’s largest container ships, with capacity for 20.568 TEU (20 feet containers)."This is a sister-ship of “Madrid Maersk” that has been received several times in the recent past, is part of the largest category/class of container ships ever operated in Sines," said a statement from the Ports of Sines and the Algarve Authority.Property of the Danish giant Maersk, the ship has 399 meters in length and 58.6 meters width.