Colombia's SPEC LNG Expands
Colombia´s LNG Import Terminal Sociedad Portuaria El Cayao (SPEC LNG) has signed a joint development agreement with Calamari LNG, Avenir LNG and Höegh LNG on providing additional LNG services at the Cartagena import facility.The additional services planned to be provided directly from the FSRU Höegh Grace include, among others, cool down of conventional LNG carriers and reloading of small LNG cargoes for onward distribution throughout Latin America and the Caribbean.Jose Castro…
Natural Gas to be 29% of World’s Energy Supply by 2050
The global oil demand will peak in the mid-2020s and gas demand will keep rising to 2033, says DNV GL.Gas demand will then plateau, and the fuel will remain dominant until the end of the forecast period in 2050, when it will account for over 29% of the world’s energy supply, it said.Significant investment will be required to ensure production meets demand, including realising the potential from stranded gas reserves and for reserve replacement. DNV GL forecasts global upstream gas capital expenditure to reach USD 737 billion (bn) in 2025…
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.
Singapore Hosts Port Management Program
The largest cohort of 27 port masters, harbour masters and middle managers from maritime and port authorities from Africa, Asia, the Caribbean, Europe, Latin America and Oceania attended the sixth Maritime and Port Authority of Singapore (MPA) Academy’s Port Management Program (PMP).Developed and organized by MPA Academy, the five-day Program will be delivered by industry practitioners as well as senior officers from the MPA. Some of the key subjects that will be covered during the Program include maritime safety…
Shanghai Ports Tops in Connectivity
The Shanghai port has topped UNCTAD’s 2019 ranking of the world’s best-connected ports, released yesterday (7 August).The Chinese port garnered a connectivity score of 134 points, followed by the ports of Singapore (124.63 points), Pusan (114.45 points) in Korea and Ningbo (114.35 points), also in China. The index is set at 100 for the best-connected port in 2006, which was Hong Kong, China.Besides the Asian ports, the other ports on the top 10 list are those of Antwerp (94 points) in Belgium and Rotterdam (93 points) in the Netherlands.
Panama Canal, UN Join Forces on Climate Action
The Panama Canal and UN Environment signed a cooperation agreement today to join efforts on sustainable development and combatting climate change.Signed by the Administrator of the Panama Canal Jorge L. Quijano and the Regional of UN Environment in Latin America and the Caribbean Leo Heileman, the agreement includes the exchange of experiences and knowledge, the development of programs and research in areas of shared interest, and human resources training across both institutions.The…
AAPA Selects Christopher Connor as its New CEO
Former ocean carrier executive is association’s unanimous choice.The American Association of Port Authorities (AAPA), the unified and recognized voice of seaports in the Americas, announced today that it has unanimously chosen Christopher J. Connor as the association’s next president and chief executive officer.Mr. Connor, the former Global CEO of Wallenius Wilhemsen Logistics (WWL) will begin transitioning into his new role on September 23, eventually succeeding Kurt Nagle, AAPA’s president and CEO since 1995.Mr.
Hapag-Lloyd Pays Off Bond
German container shipping major Hapag-Lloyd AG has decided to fully redeem the outstanding EUR 280 million in aggregate principal amount of its outstanding 6.75 percent senior note due 2022 on 24 June 2019 at a fixed redemption price of 103.375 percent.The redemption will be done predominantly from available cash. EUR 100 million of the EUR 280 million will be paid from a drawdown of a CDS-based credit facility."The complete repayment of this senior note ahead of maturity is a clear step forward towards further deleveraging and optimizing our capital structure.
DP World Strengthen Brazil Ties
Brazil Minister of Foreign Affairs, Ernesto Henrique Fraga Araujo met with the global port operator DP World Group's Chairman and CEO, Sultan Ahmed bin Sulayem in the Brazilian capital, Brasilia this week.They discussed social reform, a stable and efficient regulatory framework to attract investors alongside public private partnerships to encourage foreign direct investment (FDI). The meeting preceded Mr. Bin Sulayem’s discussions with President Jair Bolsonaro during the visit.DP World Santos…
Cosco Completes US$3bn Peru Port Deal
Hong Kong-based international port operator Cosco Shipping Ports has completed the equity transaction of project company responsible for its greenfield subsidiary at the Port of Chancay, Peru.With the equitytransaction of the Project Company was officially completed on 10 May 2019, Port of Chancay became the company’s first greenfield subsidiary in South America and COSCO Shipping Ports plans to developing the port to an important gateway port in South America.In January 2019…
Global Problem, Local Action: IMO/EU Initiative
A new IMO video puts the spotlight on how an IMO/EU initiative is helping cut maritime emissions in the Solomon Islands as part of a global project to help tackle climate change.When the solar-powered LED lights go on at night in the port of Honiara, Solomon Islands, they are helping the port meet IMO maritime security requirements.But these lights are also a shining example of how a global project, through regional centers, can help individual countries' ports and shipping sectors improve energy efficiency, cut emissions and clean up local air quality.
Cosco Eyes PIL Takeover
After buying several container factories from its smaller competitor Singapore-based shipping company Pacific International Lines (PIL), China’s Cosco Shipping Holdings Co. is eyeing it as a potential takeover target.The Chinese state-run ocean carrier had bought part of debt-ridden PIL’s container-manufacturing business, and executives at the Chinese carrier believe they could wrap up a deal for the entire business if family-owned PIL’s owners decide to sell, reported WSJ.Cosco…
New Savannah-Central America Route
The Port of Savannah welcomed its first Seaboard Marine vessel Wednesday. The new shipping line customer supports Savannah's cold chain logistics system with one new service to Central America, and a second to Latin America and the Caribbean.The ocean carrier's first service to Savannah links the Southeastern U.S. to northern Central America, with Georgia exports centered on frozen poultry and imports composed largely of perishables and apparel produced in Guatemala, El Salvador…
First Ship from Antwerp to Açu
As BBC Amethyst anchored in Porto do Açu, Brazil, she becomes the first vessel to make the big crossing from Antwerp to the Brazilian sea port."Quite an achievement for Port of Antwerp International and the local partners who invested in the Brazilian port, thereby promoting trade with Antwerp. Brazil, the biggest economy of Latin America and number 7 in the world, is a key trading partner for the Port of Antwerp," said a press release from the Europe’s second-largest seaport.A Siemens gas turbine…
The Future of TOS
Can Your Technology Compete in Today's Terminal Operating Landscape? When it comes to terminal automation, ‘failing to plan means planning to fail.’Automation is not a one-size-fits all solution. And, while future terminal operations will necessarily involve technology and autonomous operations, is it also critical that operations are automated in a way that will best fit a terminal’s size, location and overall needs, meet customers’ changing expectations, while also providing ROI to shareholders. That’s a lot to ask.
Latin American Ports Cargo Throughput Rose 7.7%
Container throughput in ports of Latin America and the Caribbean increased by 7.7% in 2018 in comparison with the previous year.According to the Economic Commission for Latin America and the Caribbean (ECLAC), this analysis is based on the performance of a sampling of 31 countries and 118 ports and port areas in the region.According to the annual report unveiled by the United Nations organization – which was called “port ranking” in prior years – the data largely maintained the heterogeneity seen in throughput behavior in previous periods, both in reference to ports and countries.
2018: 'Grand Cru' Year for Antwerp Port
Europe’s second-largest seaport, the Port of Antwerp in Flanders, Belgium said that with a 6th year record, growth in all cargotypes and a recent wave of investments, 2018 will be a 'grand cru' year."The confirmation of the port's attractiveness and the consolidation of its position as a global player and the largest integrated European chemical cluster are essential to the continuity of its role as the largest economic engine of Belgium," claimed a press release from the port.With a growth of 5.2% compared to 2017, the earlier forecasts for a 6th consecutive year record are confirmed.
Fitch: Port Growth to Level Off
Volume growth will continue for ports throughout the world but at a more modest pace over the next 10 years, according to Fitch Ratings in a new report. Global port throughput has shown resilience over the last 10 years with throughput growth outpacing economic growth rates despite volatility through the last recession. Containerization of cargo and increasing vessel sizes coupled with supporting infrastructure at ports have all contributed to these throughput trends. However…
2018: Record Year for Port of Antwerp
With a growth of 5.2% in 2018 compared to previous year, the Port of Antwerp has confirmed the earlier forecasts for a 6th consecutive year record."The confirmation of the port's attractiveness and the consolidation of its position as a global player and the largest integrated European chemical cluster are essential to the continuity of its role as the largest economic engine of Belgium. Below you will find the final annual figures for 2018," said a press release from the Europe’s second-largest seaport.The total transhipment in 2018 was 235.2 million tonnes…
Suez Canal Extends Bulker Toll Discounts
The Suez Canal Authority (SCA) has extended discounts concerning dry bulk vessels operating between American and Asian ports after considering “new changes in the global shipping market and the world economy”."SCA pays more attention to its users best interest, and has recently taken steps towards being the safest, most secure, most reliable and most competitive compared to other routes," said a press release.It said that the rebate granted to (Laden/Ballast) Dry Bulk Vessels operating between Americas' ports and Asian ports…
New Container Port Opens in Costa Rica
The inauguration of APM Terminals Moín, Costa Rica yesterday will enable products to be shipped on transatlantic routes to European and Asian markets without transshipment.The new terminal will also move Costa Rica to number one for connectivity, out of 139 countries ranked by the World Economic Forum, said a press release from the international container terminal operating company headquartered in The Hague, Netherlands."At APM Terminals we partner with governments to become the best port operator in the world and Moín is a great example.
Konecranes: Four Harbor Cranes to YILPORT
In the first quarter of 2019, Turkey-based YILPORT HOLDING, the 12th biggest global container terminal and port operator, ordered four high-performance Model 8 mobile harbor cranes for two terminals in Latin America. Two of the large Konecranes Gottwald cranes will begin operation in Puerto Quetzal, Guatemala, in mid-2019, followed by two cranes in Puerto Bolivar, Ecuador, just two months later.YILPORT’s four new eco-efficient diesel-electric Model 8 mobile harbor cranes from Konecranes will mainly handle containers in two terminals.
$1B Container Terminal for Costa Rica
A consortium of Van Oord and BAM International completed the construction of the APM Terminals Moín in Costa Rica. Last week’s inauguration of the container terminal will enable products to be shipped on transatlantic routes to European and Asian markets without transshipment.The project represents a total investment of $1 billion and is built on a 40-hectare artificial island. The terminal has a 650-m long quay wall and a container yard with the capacity to hold 26,000 TEUs (Twenty-foot Equivalent Units), including power connection capacity for 3,800 refrigerated containers.
Boluda Corporación Goes to N. Europe
Shipping services provider Boluda Corporación Marítima has signed a letter of intent to acquire all the shares, worth 300 million euros, of Kotug Smit Towage.The Netherlands-based towage services provider Kotug Smit Towage is operating in North Sea countries (United Kingdom, Netherlands, Belgium and Germany).Boluda Corporación Marítima is now in talks to acquire 100% of the towage company Kotug Smit Towage created in 2016. The shares are owned equally by the two companies Kotug International BV and Royal Boskalis Westminster NV…
Kalmar Bags Uruguay Terminal Order
The provider of lifting solutions Kalmar has agreed a deal to supply seven terminal tractors and six forklift trucks to the Rio Estiba terminal in Nueva Palmira, Uruguay.The Cargotec group company said that the order was booked in Cargotec's 2018 Q4 order intake with delivery scheduled to take place in Q2 of 2019.Rio Estiba provides port logistics services, including loading and unloading of cargo, coordination of intra-port operations, in-terminal transport, and administration and cargo handling in port warehouses.
Kalmar to Help Bimbo's Ops at Mexico
Kalmar has concluded a deal to supply a total of three Kalmar Ottawa Electric Terminal Tractors T2E to the Mexican bakery product manufacturer Bimbo.Kalmar, part of Cargotec, said in a press release that the order was booked in Cargotec's 2019 Q1 order intake, with delivery of the machines scheduled to take place during Q3 of 2019.Bimbo is the largest baking company in the world, with 199 plants and more than 1,800 sales centres across 32 countries throughout the Americas, Europe…