28662 members and growing – the largest networking group in the maritime industry!

LoginJoin

Monday, June 24, 2019

South Korea News

Pic: Port of Oakland

Box Volume Up 8.4% at Port of Oakland

Containerized export volume at the Port of Oakland spiked last month, again turning trade war logic on its head.The Port said that exports, primarily to Asia, were up 8.4 percent compared to May 2018 totals. Imports were up, too, climbing 4.2 percent over last year.According to a release from the port, it handled the equivalent of 85,964 20-foot import containers in May. Exports totaled 78,070 containers.Oakland has now reported improved year-over-year import and export performance for three straight months.

Photo: Maersk

Maersk India Trade Report Q1 2019

India’s containerized exports with the world witnessed a stable growth of 6% in the first quarter of 2019 propelled by robust performances in refrigerated cargo, engineering and pharmaceuticals sectors, while imports declined slightly in the same quarter registering a market growth of -2.2% in Q1. The import demand was buoyed by pharmaceuticals, metal, appliances and kitchenware, paper, chemicals and fruit & nuts, mainly from Northern Europe, South Asia, China and Russia. Exports were driven largely by the East and West of India…

Kenneth Vareide (Photo: DNV GL)

DNV GL Appoints New Digital Solutions CEO

Kenneth Vareide has been appointed the CEO of DNV GL’s Digital Solutions business area, which is a provider of solutions for managing risk and improving asset performance.Its services are used primarily by the oil & gas, energy, renewable and maritime industries and it consists of close to 1,000 digital experts. Vareide joined DNV GL as a trainee in 1996 and most recently held the position of Digital Director in business area Maritime.“DNV GL has been a digital pioneer since the 1960s and it is an exciting and challenging time to pick up the CEO’s baton…

File Image: AdobeStock / © Scanrail

U.S.-China Trade Talks Go to the Wire

World shares tumbled for a fourth day running on Thursday after a warning from U.S. President Donald Trump that a long-worked-on trade deal with China was in serious danger.Chinese Vice Premier Liu He was heading to Washington for two days of talks, but Trump's insistence that China "broke the deal" and Beijing's response that it would retaliate against a planned U.S. tariff increase raised the stakes.Europe's main stock markets and Wall Street futures sank 0.5 to 1.3 percent after a torrid day for Asia saw more than 1.8 percent taken off China and more than 3 percent off South Korea…

Singapore Mega Port on Track for 2021

Singapore on Tuesday said its plans to build the world's biggest container terminal in a single location were on track, as it held a ceremony to mark a milestone in the initial construction phase of the mega-project.Tuas Terminal is set to open progressively from 2021, six years after work began, and it is expected to be capable of handling 65 million twenty-foot long shipping containers per annum when fully completed in 2040.Once completed, the terminal is slated to become the world's largest container terminal in a single location…

Pic: Hyundai Heavy Industries

Shareholders OK HHI Split-up Plan

Shareholders of Hyundai Heavy Industries (HHI) have approved the South Korean shipbuilder's split-up plan amid fierce opposition from its labor union.According to local media reports, Hyundai Heavy Industries, , South Korea's largest shipbuilder, is now divided into mid-holding companies and subsidiaries engaged in shipbuilding, special ship, offshore plant, engine and machinery business.HHI changed its name and mission to the Korea Shipbuilding & Marine Engineering Co., Ltd.

Photo: Bahri

Bahri Expands Footprint in Asia-Pac

The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company…

The crude oil tanker ProStar discharges jet fuel at Port Canaveral’s North Cargo Berth 2. CEO Capt. John Murray, left, and Seaport Canaveral General Manager David Smith, right, present plaques to ProStar Capt. Alexander Ivanishvili. (Photos: Canaveral Port Authority)

New Aframax Tanker Makes First N. American Call

The Aframax tanker ProStar recently made its first North American delivery to discharge 442,131 barrels of jet fuel at Seaport Canaveral."820-foot-long ProStar – first of its kind vessel to berth at Port – makes its inaugural North American delivery of transportation fuels to Seaport Canaveral," the Canaveral Port Authority announced in a statement.Built in 2018, the 144-foot-wide ProStar has a crew of 23 and a summer dead weight tonnage of 115,000 tons.Port Canaveral cargo operations…

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;…

Chang Keun Yoo. Photo: HMM

HMM CEO to Step Down

Chang Keun Yoo, president and CEO of South Korea container line Hyundai Merchant Marine (HMM)  has decided to resign from his position next month.Chang-Keun Yoo has been Chief Executive Officer and President of Hyundai Merchant Marine Co. Ltd since April 02, 2013 and serves as its Chairman of the Board. Yoo served as an Executive Vice President of Hyundai Merchant Marine Co. Ltd., and Head of HMM Europe Ltd.According to a report in WSJ, he has offered to resign after months of being under pressure from its top creditor to quit over failures in its turnaround.

Pic: Eastland Group

Eastland Port Posts Strong 2018

The commercial shipping port in New Zealand, Eastland Port achieved an annual tonnage throughput of just under 2.9 million tonnes of cargo in the year to March 2019, slightly down on last year’s record-breaking result.“The 12-month period was another very strong year for throughput at Eastland Port with vessels taking this district’s export product to South Korea, Japan, China, and Singapore,” says general manager Andrew Gaddum.In the year to 31 March 2019, 140 ships handled 2,956,071 tonnes of cargo at Eastland Port.

ULCC_AdobeStock_CREDIT Jose Gill

BIMCO: US Seaborne Crude Oil Exports Hit Record High

US exports of crude oil have, since August 2018, continued to rise every month, with a new record high in January of 9.6 million tonnes. Exports rose in January on the back of increased sales to Europe, which rose from 2.7 million tonnes in December to 4.8 million tonnes in January.A strong end to 2018 meant that volumes for the full year totalled 87.4 million tonnes, 96.7% higher than the 44.4 million tonnes exported in 2017. This is good news for the crude oil tanker sector…

Image: BigLift Shipping

BigLift, Chung Yang Join for LNG Heavy Transport

BigLift Shipping and Chung Yang Shipping from South Korea have reached an agreement for cooperation in heavy transport shipping in LNG, oil and gas markets.A joint press release said that their four heavy transport vessels (HTVs) will be commercially operated by BigLift Shipping.With this combination of two pairs of sisterships – BigLift Barentsz and BigLift Baffin and CY Interocean I and CY Interocean II – the companies are ready to meet the future demands in the LNG, Oil and…

File Image (CREDIT: AdobeStock / © Jose Gill)

Trafigura Sends More Asian Gasoline to Americas

Commodity trader Trafigura is shipping this month a second newly built crude tanker with Asian gasoline onboard to South America amid strong demand in the West, four industry sources who closely monitor petrol trade flows said on Thursday.Although it is not uncommon for traders to use a brand new crude tanker of 150,000 deadweight tonnage (dwt) to ship clean fuels such as diesel, it is rare to use them for gasoline because of the sheer size."South America likely needs gasoline more than gasoil now.

The U.S. Gulf Coast port of Corpus Christi has evolved into the nation's most active crude export complex. CREDIT: Port of Corpus Christi, Texas

First U.S. Crude Cargoes Head to China Since Trade Breakthrough

Three cargoes of U.S. crude are heading to China from the U.S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries' trade war that began last month.The vessels left Galveston, Texas, last month and are scheduled to arrive at Chinese ports between late January and early March, according to shipbrokers and vessel tracking data. The shipments mark a change since Chinese buyers largely began avoiding U.S. oil during the trade dispute that flared last summer."It looks like China has resumed purchasing U.S.

Photo: Evergreen

Evergreen Opens Four Offices in Latin America

In view of the growth potential in Latin American trade, Evergreen Line is continuing to establish its own offices at main service locations in the region. Evergreen Line has opened its own agency in Colombia following the establishments of other offices in Peru, Chile and Mexico over the past few months. In setting up these offices Evergreen confirms its continued commitment to serving the trade and economy of Latin American west coast region. The dedicated personnel at these locations will have responsibility for local marketing and sales…

Photo: Gerrit Serne, Port of Amsterdam

New IJmuiden Sea Lock Gets Gates

The first of a total of three lock gates for the new sea lock has arrived at IJmuiden harbour in the Dutch province of North Holland.According to Port of Amsterdam Authority, the lock gate was towed by a tug across the North Sea to its final destination. On its way from South Korea to IJmuiden - with a stopover at Maasvlakte 2 - the lock gate has covered a total of more than 26,000 km. The transport over the last 150 km took 30 hours and went smoothly.Minister of Infrastructure and Water Management…

© Mark Rubens / Adobe Stock

Anadarko Nearing FID for Mozambique LNG

U.S. independent energy producer Anadarko moved closer to a final investment decision (FID) to build a giant liquefied natural gas (LNG) terminal in Mozambique after signing up an Indian buyer for the gas and saying another deal was imminent.Anadarko and Exxon Mobil are expected to sanction two separate but neighboring LNG projects in Mozambique this year after finding large offshore gas deposits, turning the African nation into a major global gas exporter.The company said on…

Photo: Valles Steamship

Valles Orders New Tanker from SHI

The Hong Kong and Vancouver-based shipowner Valles Steamship has ordered a new 112,000 dwt crude oil tanker from South Korea’s Sumitomo Heavy Industries Marine & Engineering (SHIME).Ship set to be fitted with a scrubber and will enter the market before the end of 2020, said a release from Valles, which was founded by C.S. Koo in Shanghai as a family business in 1917."We take great pleasure in concluding a newbuilding contract with the esteemed yard and the we look forward to further strengthening their relationship with SHIME…

File Image: Evergreen Marine Corp

Taiwan's Evergreen Opens Four New Offices in Latin America

Taiwanese container transportation and shipping company  Evergreen Marine Corp. is expanding its operations into Central and South America this year following the recent opening of four new agency offices in the region."In view of the growth potential in Latin American trade, Evergreen Line is continuing to establish its own offices at main service locations in the region. The move will strengthen the effectiveness of the line’s operations, improve its capability to react to market opportunities…

© Wojciech Wrzesien/AdobeStock

LNG Import: China is World's No. 2 buyer in 2018

China's imports of liquefied natural gas (LNG) in December soared 25 percent from the same period a year earlier to a monthly record of 6.29 million tonnes, customs data showed on Wednesday.The previous record of 5.99 million tonnes was set in November.For the whole of 2018, imports grew 41 percent from 2017 to a record 53.78 million tonnes, according to the data from the General Administration of Customs. That saw China retain its position as the world's second-buyer buyer of the super-chilled fuel after Japan…

Image: SEA\LNG

LNG REPORT: LNG Bunkering Vessels Rise to Nine, 30 More to Come

The liquefied natural gas (LNG) bunkering infrastructure is expanding globally and there are increasing numbers of LNG-bunker vessels which are encouraging other operators to adopt LNG.According to SEA\LNG,  the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, from limited availability at select ports, LNG bunkering has grown to encompass 24 out of the world’s top 25 and all but one of the top ten bunker…

Pic: eMARINE Global

eMARINE Global Wins Warship ECDIS Contract with Hanjin Heavy

The provider of information and communications technology for the maritime industry eMARINE Global announced its second contract with Hanjin Heavy Industries & Construction (HHIC) to deliver its Warship Electronic Chart Display & Information System (WECDIS) for four new Republic of Korea (ROK) Navy patrol ships.The maritime ICT provider in South Korea said in a press release that in 2018, it  successfully delivered on the first phase of this project, installing its innovative WECDIS technology on the first four patrol ships.

Pic: Stena Line

Green Light to Stena, Hyundai Glovis JV

The European Commission has approved the creation of a joint venture by Swedish Stena Rederi, part of Stena AB, and German Glovis Europe, which is controlled by South Korean Hyundai Glovis.Earlier, the companies have filed a merger application with the European Commission’s competition authorities for the unnamed joint venture.Created through the purchase of shares, the new unit would mainly operate short-sea transport services on pure car and truck carrier (PCTC) vessels in Europe."The European Commission has approved…

Image: Ocean Infinity

Sunken Stellar Daisy Located

The Stellar Daisy, a massive South Korean tanker that sank in March 2017, was spotted on the floor of the South Atlantic Ocean nearly two years later.Exploration company Ocean Infinity said that it has located the wreck of the lost South Korean tanker, Stellar Daisy, at a depth of 3,461 meters in the South Atlantic Ocean, approximately 1,800 nautical miles due west of Cape Town.Stellar Daisy sank on 31 March 2017, transporting iron ore from Brazil to China. Tragically, 22 of the 24 crew were lost.Working from Seabed Constructor…

The sound part of the vessel Maersk Honam, which was hit by a serious fire last year, is being transported to Hyundai Heavy Industries Shipyard in South Korea, where it will be rebuilt.  Photo: Maersk

Update: Maersk Honam Heads for Rebuild

The sound part of the vessel Maersk Honam, which was hit by a serious fire last year, is being transported to Hyundai Heavy Industries Shipyard in South Korea, where it will be rebuilt. The sound section of Maersk Honam was successfully loaded aboard the heavy-lift vessel Xin Guan Hua on open waters outside Dubai (UAE) on Saturday, 2 February. It was expected to pass Singapore Strait on Monday, 18 February 2019. The heavy-lift vessel will deliver the 228.5-metres-long section from midship to stern at Hyundai Heavy Industries Shipyard in South Korea in March…