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Thursday, March 21, 2019

Panama News

Image: Jacksonville Port Authority

JAXPORT Receives Largest Ever Box Ship

The Jacksonville Port Authority (JAXPORT) and terminal operator SSA Atlantic on Monday afternoon welcomed the largest container ship to ever visit Jacksonville.JAXPORT set a new port record today with the arrival of the ZIM vessel Cape Sounio, the largest container ship to ever call Jacksonville, claimed a press release.The 11,000-TEU (container) vessel is operated by ZIM on a service offered by the 2M alliance. The 2M alliance is comprised of Maersk, MSC, Hamburg Süd and strategic partners HMM and ZIM.The vessel, which transited the Panama Canal from Asia before reaching the U.S.

Photo credit: ACP

Moody's Upgrades Panama Canal Rating

Moody’s Investors Service upgraded the 20-year $450 million Senior Unsecured Bonds issued by the Panama Canal Authority (ACP) to A1 from A2, with a stable outlook, based on the waterway's strong performance since the expansion's inauguration.Moody's noted that the Expanded Canal has increased overall tonnage and attracted new market segments, contributing to the waterway's strong performance. According to Moody's, "stronger cash flow generation coupled with a relatively low leverage…

File Image: CREDIT GPA

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…

File image: credit OPDR

Blackstone Invests in Terminal Operator Carrix

U.S. investment firm Blackstone Group LP said on Sunday that funds affiliated with Blackstone Infrastructure Partners invested in Carrix Inc, the largest marine terminal operator in the United States and the Americas.The company did not disclose the terms of the transaction.Carrix is the parent of SSA Marine and its related affiliates with operations at over 250 port and rail locations worldwide, including 16 container terminals in Long Beach and Oakland in California, Seattle and Tacoma in Washington…

Mark Pieter Frölich (Photo:  Lankhorst Ropes)

Lankhorst Appoints Commercial Director

Maritime and heavy lift ropes company, Lankhorst Ropes, has appointed Mark Pieter Frölich as commercial director for Lankhorst Ropes USA. Based in Philadelphia, Frölich will head the development of Lankhorst Ropes’ sales in the maritime and offshore markets in the United States and Canada.Lankhorst Ropes is part of Kansas based WireCo WorldGroup, a steel wire and synthetic ropes maker. Previously regional manager for Lankhorst Ropes in the Middle East, Frölich has spent the past seven years successfully founding and growing the WireCo WorldGroup branch office in Dubai.

Photo:Van Oord

$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.

Ocean Cay (Artist's rendering of the MSC custom built island, the Ocean Cay MSC Marine Reserve.)

Cruise Building: Growing, Cleaner and Not Always Bigger

2019 will be the biggest year ever for new ship introductions.The ships are coming. Cruise Lines International Association (CLIA) suggests that in the coming year 18 new ships are on order for CLIA cruise lines. The next few years will see the arrival of new cruise giants at PortMiami and Port Canaveral. But first they will need giant terminals.The Global Impact of Cruise LinesCLIA estimates 30 million travelers will cruise next year, up six percent from 28.2 million in 2018;…

Image: Port Tampa Bay

Port Tampa Welcomes CMA CGM

Florida's largest port Port Tampa Bay welcome the announcement by the CMA CGM Group, that it will begin serving Port Tampa Bay in late May 2019 on its Pacific Express 3, or PEX3 service.With a presence in 160 countries and a fleet of 506 vessels, CMA CGM serves over 420 ports across the globe and is a member of the Ocean Alliance. The PEX3 port service rotation will be as follows: Singapore – Vung Tau – Hong Kong – Shekou – Ningbo – Shanghai - Busan – Panama Canal - Houston – Mobile – New Orleans – Tampa – Miami – Singapore."We are delighted with this announcement by CMA CGM…

Ricaurte Vasquez. Pic: Florida State University

Panama Canal Appoints New Administrator

The Panama Canal Board of Directors announced the appointment of Ricaurte Vasquez as the next Panama Canal Administrator.According to a press note from the artificial 82 km waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean, Vasquez will take office on September 4, 2019, succeeding current Administrator Jorge L. Quijano, who concludes his seven-year term at the helm of the waterway.The decision was made by the Board of Directors in accordance to an independent…

Logo: Boskalis

Boskalis Sells Stake in SAAM SMIT Towage

Royal Boskalis Westminster N.V. (Boskalis) has signed an agreement with SAAM S.A. (SAAM) relating to the sale and purchase of the equity stake held by Boskalis in SAAM SMIT Towage. Under the terms of the agreement, the total (100%) enterprise value of SAAM SMIT Towage is valued at $560 million. Boskalis expects to receive $201 million in cash for its equity stake in the joint venture.The towage joint venture between Boskalis and SAAM was formed in 2014 which at the time covered the respective towage activities in Brazil, Panama, Mexico and Canada.

 Pic: The Port of New Orleans

Port NOLA Sets Container Record in 2018

The Port of New Orleans (Port NOLA) moved more containers in 2018 than at any time in its history, totaling 591,253 twenty-foot equivalent units (TEUs), up 12.3 percent compared to one year ago.The deep-draft multipurpose port at the center of the world's busiest port system -- Louisiana's Lower Mississippi River said in a press release that the record marks the fifth year in a row Port NOLA has surpassed the half million TEU-mark at its Napoleon Avenue Container Terminal, which…

Pic: Directorate General of Shipping, India

India: Seafarer Jobs Growth whopping 42.3%

The last four years saw an unprecedented growth of 42.3 per cent shipboard jobs for Indian seafarers.The seafarers employed on ships worldwide increased from 108446 in 2013 to 154349 in 2017.India now provides 9.35 per cent of the global seafarers and ranks third in the list of the largest seafarer supplying nation to the world maritime industry."The Ministry of Shipping has strived to improve employment generation in the Shipping sector during the last four years," said Union Minister of State for Shipping Mansukh Mandaviya.He further added…

Image: Monjasa

Monjasa Moves Bunker Tanker to Panama

Danish bunker group Monjasa has transferred a ship from West Africa to Panama, where it carried out its first fuel supply off the coast of Balboa."As part of a fleet reshuffle, Accra arrived in Panama after forming part of Monjasa’s West Africa bunker operation. The tanker fast received all safety and operational approvals from the Panama Maritime Authorities and completed her first fuel supply at Balboa Anchorage on 18 January," said a statement from the marine fuels supplier.Accra is a 2010-built and 8,800 dwt tanker.

Photo courtesy of ANP

GAC Expands in South America

Growing demand for professional shipping services from the offshore oil & gas industry has prompted GAC to open an office in Uruguay. The new office continues 2018’s expansion of the Group’s Americas region with the opening of GAC Brazil’s office in Fortaleza, and the establishment of GAC Panama.Based in the key port of Montevideo, GAC Uruguay is well positioned to offer a full range of ship agency services nationwide, with particular focus on the growing offshore oil & gas and product tanker sectors.

Local workers unload new automobiles from the WWO vessel at the Port of Hueneme  (Photo: Port of Hueneme)

Automotive Customers Recommit to the Port of Hueneme

Wallenius Wilhelmsen Ocean (WWO) joins BMW North America (BMW) and GLOVIS America (GLOVIS) to secure their presence at the Port of Hueneme with long-term contracts.Representing over half of the Port’s cargo revenue, the automobiles being imported will reach more than 13 states. In addition, the Port also exports globally multiple OEM brands manufactured in the United States, acting as Ventura County’s international commerce gateway.“In a time of uncertainty from ongoing global trade talks and a watchdog approach to the tariff discussion…

Richard Greiner (Photo: Moore Stephens)

Moore Stephens: Leaner, Greener Shipping Will Attract Investment in 2019

Accountant and shipping adviser Moore Stephens says shipping will continue to attract investors in 2019 if it fulfills its ESG (environmental, social and governance) responsibilities.In the latest issue of Bottom Line, the Moore Stephens shipping sector newsletter, Richard Greiner, a partner in the firm’s Shipping & Transport team, says, “It has been suggested that the future is very much like the present, only longer. Should that prove to be the case for the shipping industry…

Pic: International Maritime Organization (IMO)

Simulation Exercises on Port Security in Panama

Simulation exercises are proving to be a valuable tool to assist countries and port authorities to prepare for a wide range of potential threats and security situations.According to a press release, an interactive port facility/port security officer workshop in Panama City, Panama (13-14 December) presented a series of possible scenarios which were deliberately varied, from the easiest problems to solve, to others that may require greater participation and analysis to reach a solution.Participants discussed needs…

Pic: Panama Canal Authority

Moody's Rated Panama Canal with Stable Outlook

Moody's Investors Service reaffirmed the Panama Canal Authority's (ACP) A2 long-term rating with a stable outlook, based on its distinctive position as an infrastructure asset with a unique geographic advantage and business model, and its strong historical operational and financial performance.According to Moody's, the ACP's strong financial performance has resulted in better than anticipated financial metrics, driven by the successful operations of the Expanded Panama Canal.

Photo: Panama Canal Authority (ACP)

Brazil’s Itaqui Port and Panama Canal Sign MOU

The Panama Canal has signed a memorandum of understanding with the Port of Itaqui to promote the shipment of grains and other cargoes in the commercial route from Brazil through the Panama Canal to destinations located in the Pacific Ocean.Itaqui, located in São Luís, Maranhão, is the Brazilian port closest to the Panama Canal. It  has the infrastructure and connectivity necessary to move these exports to markets in Asia."With this agreement, the Panama Canal looks to promote…

Photo: © Port of Barcelona

ChainPORT Renews Digital, Environmental Commitment

Delegates from the world’s leading ports have come together to examine their role in the rapidly evolving maritime logistics landscape and in particular to coordinate their contribution to the establishment of an interconnected maritime supply chain at the Port of Barcelona.The multilateral partnership of the world leading ports, ChainPORT, has just concluded its 4th Annual Meeting which was hosted last week by the Port of Barcelona.ChainPORT was initiated in 2016 by the Port…

Photo courtesy of Panama Canal Authority

Panama Canal Signs Deal with Port of Itaqui

The Panama Canal signed a Memorandum of Understanding (MOU) with Port of Itaqui, located in the northeastern region of Brazil, to promote the shipment of grains and other cargoes in the commercial route between the north of Brazil through the Panama Canal to destinations located in the Pacific Ocean.The Port of Itaqui, located in São Luís, Maranhão, is the Brazilian port closest to the Panama Canal and has the infrastructure and connectivity necessary to move these exports to markets in Asia.

Pic: Panama Canal Authority

Chinese Consortium Bags USD 1.4bln Panama Bridge Project

The government of Panama gave a US$1.4 billion contract to build a bridge over the Panama Canal to Panama Cuarto Puente, a Chinese consortium.Panama Cuarto Puente consortium or so-called Panama Fourth Bridge Consortium,  composed of China Communications Construction Company (CCCC) and its unit China Harbour Engineering Company (CHEC), will design and build a bridge over the Panama Canal.According to a report in Reuters, the 6.5-km (4-mile) bridge will have six car lanes and a two-way metro line.

Image: International Transport Workers' Federation

ITF Warns on Tug Captains Fatigue at Panama

The International Transport Workers' Federation (ITF) warns that a major accident on the Panama Canal could be imminent, highlighting the serious health and safety concerns related to the fatigue of tugboat captains.The new report  takes the Panama Canal Authority (PCA) to task with tiredness, rather than the protocols in place for the physical transfer of vessels as was the case previously.Fatigue of Panama Canal tugboat poses a major threat to safety in the operation of the canal’s Neopanamax locks…

Pearl Harbor Remembrance Day: Jones Act Dredgers, America at its Best

The U.S.-Flag dredging industry commemorates the 77th anniversary of the Japanese air raid on the United States Naval Base at Pearl Harbor highlighting the critical need for a robust American shipbuilding capacity to ensure for the preparedness of the nation.“Today our brothers and sisters of the U.S Merchant Marine look to the past sacrifices made by 2,403 U.S. servicemen who died in the attacks on Pearl Harbor. We honor the members of the U.S. Armed Services,” said William P.

Søren Toft, Chief Operating Officer at A.P. Moller - Maersk. Photo: Maersk Line

Maersk to Cut Carbon Emissions to Zero by 2050

The world's largest container shipping company A.P. Moller -Maersk has pledged to cut net carbon emissions to zero by 2050.The Danish business conglomerate with activities in the transport, logistics and energy sectors said in a press note that to achieve this goal, carbon neutral vessels must be commercially viable by 2030, and an acceleration in new innovations and adaption of new technology is required.Climate is one of the most important issues in the world, and carrying around 80% of global trade, the shipping industry is vital to finding solutions.

Pic: ESL Shipping

LNG Bulk Carrier Viikki Starts Baltic Sea Ops

The world's most eco-friendly bulk carrier m/s Viikki, owned by ESL Shipping, a subsidiary of the Aspo Plc, has started operating on the Baltic Sea.The 25,600-dwt vessel, 160 metres long and fuelled by liquefied natural gas, produces less than half of the carbon dioxide of previous vessel generation, thanks to LNG and many advanced technologies.M/s Viikki was built in China, and after completion first sailed to Japan to load a cargo of raw materials. From there, she arrived to the Baltic Sea through the Northeast Passage…