Global Container Demand to Grow by 1-3% in 2020
For 2020, global container demand is projected to grow by 1-3%, as per forecast by A.P. Moller - Maersk.The continued weak global sentiment above all in the manufacturing sector reduces the likelihood of a material growth pick-up in 2020, although sentiment brightened a bit at the end of 2019, and some improvement can be expected on the back of stabilizing inventory dynamics, said the shipping giant.Aside from the cyclical slowing of the global economy, substantial risk to global container demand comes from the effectiveness of fiscal and monetary policy in major economies…
Cruise Ship Stranded by Coronavirus Fears to Dock in Cambodia
Cambodia has agreed to let a cruise ship, that has been turned away by five countries over fears that someone aboard may have the coronavirus, to dock and disembark its passengers, the Holland America Line said on Wednesday.The MS Westerdam, which has 1,455 passengers and 802 crew on board, will dock at the Cambodian sea port of Sihanoukville on Thursday, the company said.The ship - which says it has no sick passengers - has been turned away from Thailand, Japan, Taiwan, Guam and the Philippines. (Writing by Kay Johnson; Editing by Andrew Heavens)
Coronavirus Places Shipping on High Alert
The Wuhan coronavirus outbreak has placed the shipping industry on high alert amid a rising death toll in China and reports that the fast-spreading illness is reaching new shores.The flu-like coronavirus, first identified in Wuhan, Hubei Province, China on December 31, has killed more than two dozen people in China and is believed to have infected more than 900 worldwide, according to several media reports. Cases have been confirmed in Beijing, Shanghai and Guangdong, and internationally in travelers returning from China to Japan…
EGCO Joins Yunlin Project
Thailand-based Electricity Generating Public Company Limited (EGCO Group), has acquired a 25% ownership interest in Yunlin Holding GmbH, the developer of the 640MW Yunlin offshore wind farm project in Taiwan.The electric utility holding company said that its wholly-owned subsidiary Greenwing Energy B.V. entered into a share purchase agreement to acquire a 25% ownership interest in Yunlin Holding GmbH.”The transaction is expected to be closed in the 1st quarter of 2020, subject to completing all closing conditions including consent by Taiwanese authorities…
Asia Boosts IMO Technical Cooperation
The International Maritime Organization (IMO), Thailand’s Ministry of Transport and the United Nations Economic and Social Commission for Asia (UNESCAP) have recently organized the second regional Knowledge Partnership Workshop in Asia in Bangkok,The workshop was designed to support maritime technical cooperation activities in the region.The workshop brought together officials from transport ministries, responsible for maritime affairs, and finance ministries, responsible for official development assistance.
CMA CGM: Terminal Deal with China Merchants Complete
CMA CGM said on Friday it had finalized an agreement with China Merchants Port Holdings Co.
Maersk India Trade Report Q3 2019
India’s import and export container trade in Q3 2019 (July-September) remained flat as compared to global growth of 1.5%. The slowdown is aligned closely with the weaker domestic demand, as well as a reflection of the broad-based cyclical weakening of the economic environment in all the main global economies. The negative effects from escalating trade restrictions also weighed on trade growth in the quarter. The trade restrictions have reduced bilateral trade between the United States of America and China…
Northland, Shizen Join Forces for Japanese OWP
Canadian energy company Northland Power and the Japanese provides renewable energy project development services Shizen Energy have agreed to set up a joint venture to develop offshore wind projects in Japan.Under the terms of the agreement, the partners will establish a 50:50 joint venture (Chiba Offshore Wind Inc.), which will serve as the development vehicle for the projects. The joint venture is pursuing projects that have a combined capacity of approximately 600 megawatts…
Oil Majors to Raise $27Bln in Selling Spree
Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.These companies are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, with the added benefit of pleasing shareholders who are calling for stricter capital discipline.“The expected transactions mean some of the majors are poised to exit certain regions…
Yang Ming to Launch New ITS Service
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation said that encouraged by the steady economic growth and foreign trade in between Indonesia, Singapore, Malaysia and Thailand, it continues to enhance its Southeast Asia deployment with the new ITS service (Indonesia - Singapore/Malaysia - Thailand Service).The ITS service is set to be launched on November 12th, 2019, Yang Ming said.A total of three container ships with loadable capacity of 1,180 TEU each will be deployed for ITS service, of which one is contributed by Yang Ming.
ITF Expands into Asia Pacific
The International Transport Workers' Federation (ITF) has established its latest Contacts Network, covering Bangladesh, Cambodia, Malaysia, Myanmar, Pakistan, Papua New Guinea, the Solomon Islands and Thailand.ITF has seen a significant increase in seafarers requesting assistance from countries without an inspector or contact, in recent years.Attempting to resolve these requests is often challenging due to several factors, including the local political context and the effectiveness…
AAL Handles Giant 86m Pressure Vessel
Leading project heavy lift carrier AAL has completed the successful handling and transport of an impressive cargo of South Korean-engineered petrochemical plant components, from Pyeongtaek to Map Ta Phut. The units are to be installed at one of Thailand’s largest integrated producers of olefins and polyolefins - for industries like agriculture, automotive, building & infrastructure and medical - and comprised over 15,000cbm of individual items, the largest of which was a pressure…
Yang Ming Launches Japan-Thailand Service
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation enhances its Intra-Asia service network by launching a new Japan–Thailand service (JT1) effective from September 11th, 2019.The JT1 service will call at Shimizu, Tokyo, Yokohama, Pusan, Laem Chabang. It will directly link Laem Chabang with Japanese ports and Pusan.The new weekly service will be added to Yang Ming’s network through a space swap program with Ocean Network Express Pte. Ltd.With the launch of JT1 complementing the existing two Japan–Thailand services…
JAXPORT Acheives Record July
Jacksonville Port Authority (JAXPORT) announced that it has achieved its best ever July container volumes, with overall container movements increasing 19% compared to the previous July.More than 116,000 twenty-foot equivalent units (or TEUs, the industry standard for measuring containers) moved through JAXPORT in July 2019, said Florida’s largest container port by volume.So far in Fiscal Year 2019, more than 1.1 million containers have moved through JAXPORT, an increase of 9 percent over the same period last year. The port’s fiscal year runs Oct. 1- Sept.
Highest July Container Volumes for JAXPORT
The Jacksonville Port Authority (JAXPORT) has achieved its best ever July container volumes, with total container movements increasing 19 percent over the previous July. More than 116,000 twenty-foot equivalent units (or TEUs, the industry standard for measuring containers) moved through JAXPORT in July 2019.So far in Fiscal Year 2019, more than 1.1 million containers have moved through JAXPORT, an increase of 9 percent over the same period last year. The port’s fiscal year runs Oct. 1- Sept.
Hapag-Lloyd Launches SE Asia-Australia Routes
Hapag-Lloyd launches new South East Asia to Australia Services // SEA and S2A to start in October.Hapag-Lloyd expands its Oceania product portfolio. During the month of October 2019 (week 43), two new services which will offer weekly direct sailings between Thailand, Malaysia, Singapore and Australia on top of our existing South East Asia Australia Loop 1 (SAL) will be launched.“Connecting via Singapore on our global mainline network, we will be able to offer increased sailing frequency to and from Australian ports…
China Trade Data Calms Jittery Investors
Stronger-than-expected Chinese export data helped push global stock markets higher on Thursday following a volatile week that had investors scrambling for safety on fears of a worldwide economic pullback.Investors were encouraged by data showing Chinese exports rose 3.3% in July from a year earlier, beating an expected decline of 2%. Chinese imports fell less than forecast, despite the U.S.-China trade war.Markets reacted sharply on Monday after China let its currency weaken beyond 7 yuan per dollar, a surprise move that investors took as retaliation for U.S.
Jacksonville's Seaport Generates 26,000+ Local Jobs
New study finds port investments including Harbor Deepening have resulted in “significant” job growth over last five years.Cargo activity through Jacksonville’s seaport positively impacts tens of thousands of jobs and supports nearly $31.1 billion in annual economic output for the region and state, according to a newly released study. The study, citing double-digit growth in the port’s total economic impact over the last five years, was conducted by Martin Associates, a widely recognized maritime research firm.In the Jacksonville area…
Yang Ming Enhances Network
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation has announced new China-Thailand direct service and Thailand - Indonesia express service.Under the impact of rising global trade tensions, a relocation and adjustment of cargo flow and supply chains is expected. To cope with this trend, Yang Ming Marine Transport Corp. continuously strengthens its Asian service network as well as the quality of Asian routes.Yang Ming has announced the launch of a new Intra-Asia service, China-Thailand Service (CTX service).
APL Launches Bangkok Haiphong Service
APL, part of the CMA CGM Group, has announced the launch of the Bangkok Haiphong (RBH) service that will provide weekly connectivity between South China, Thailand and Vietnam.An express service from South China to Thailand, the RBH service will make an alternative sailing choice from Shekou to Laem Chabang. The service also offers shippers direct connectivity from Bangkok and Laem Chabang to Haiphong.The RBH service will begin sailing from Nansha on July, 3rd. The service will call at the ports of Nansha, Shekou, Bangkok, Laem Chabang and Haiphong.
GAC Mulls Expansion
The shipping & logistics company GAC is tapping into the growing contract logistics business potential of the Asia Pacific, Indian Subcontinent and Middle East, with plans to further develop and expand in its operations in the regions.That was the message Lars Bergström, GAC’s Group Vice President for Asia Pacific & Indian Subcontinent, had for the Group’s Contract Logistics Solutions experts who gathered in Colombo, Sri Lanka, to chart GAC’s strategy to increase its share of the business in their regions.
APL Enhances Japan Thailand Vietnam Service
APL has announced that the Japan Thailand Vietnam (JTV) service is extending its port rotation to the Philippines and within South China. The refined service will be calling three additional ports in Manila, Shekou and Nansha as part of its service rotation.The enhanced JTV service is primed to facilitate direct shipments from the load ports in South China to the Philippines, promising a fast 3-day Shekou-Manila transit time. The weekly service will also provide direct access to Laem Chabang in Thailand from Manila.
QP Ships Naphtha to Thailand
Qatar Petroleum (QP), a state owned petroleum company of Qatar, said that it had concluded a 10-year sales agreement to supply Thailand's SCG Chemicals with a total of 3 million metric tons of light naphtha starting from this month.The agreement was made for and on behalf of the Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), Qatar Petroleum said in a press release.This long-term supply agreement is the first QPSPP naphtha feedstock sale to an end-user in Thailand…
Demand for Box Shipping of Soybeans to Asia Grows
Countries in Asia, led by Indonesia, are increasingly relying on shipping containers to transport their purchases of U.S. soybeans, according to an analysis of federal data released by the Illinois Soybean Association (ISA).The number of soybeans shipped in containers to Asian countries has grown 40 percent since the 2014-2015 crop marketing year, from 2 million metric tons to 2.8 million metric tons. Indonesia is the top buyer of container shipments of soybeans at about 1.4 million metric tons…
Rhenus Acquires World Net Logistics
European logistics provider Rhenus Group has acquired South African freight forwarding and logistics specialist World Net Logistics (WNL).The takeover of the Johannesburg-headquartered firm WNL is still subject to approval by the relevant cartel authorities.In addition to having a dense network of business sites in South Africa, WNL also has several branches and partners in Asia and Germany.The acquisition by Germany’s Rhenus Group is the latest in a string of purchases around the world in the last few months alone…
Fakes Make Up 3.3% of Global Trade
Trade in counterfeit and pirated goods, mostly originated in China, has risen steadily, posing a major challenge in an innovation-driven global economy, revealed a new study.Trade in counterfeit and pirated goods has risen steadily in the last few years – even as overall trade volumes stagnated – and now stands at 3.3% of global trade, according to a new report by the Organisation for Economic Co-operation and Development (OECD) and the EU’s Intellectual Property Office.Trends…