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ONE set for Structural Reforms, "K" Line for Digital Technologies in 2019
During 2018 the world economy continued to show a gradual improvement. Although unstable conditions could be seen in some developing markets, such as the economic slowdown in Central and South America, and currency depreciation in Argentina and Turkey, with the support of the strong United States economy the worldwide economy on a whole remained firm.
This year the world economy is expected to continue to show gradual growth similar to last year, but trade friction between the United States and China, and growing instability in the Middle East due to increasing international tensions with regard to Iran and Saudi Arabia, as well as the problem of the United Kingdom's exit from the EU, have led to increased uncertainty.
With the world economy remaining steady, demand for marine transport has gradually increased, while on the other hand historically stagnant market conditions in dry bulk and container shipping have reduced tonnage supply pressure, so the supply and demand situation in international shipping is showing a steady improvement.
"In the product distribution segment, logistics operations together with coastal and inshore operations produced steady earnings, but for the container shipping company "Ocean Network Express" (ONE), while the synergic effect due to the integration of operations became steadily apparent, some confusion regarding the providing of services at the start of business operations led to load volumes being less than was expected, resulting in a loss," "K" Line President & CEO, Eizo Murakami said.
Car carrier operations also showed a loss, due to factors such as lower efficiency in shipping routes from Europe, and a reduction in cargos to resource-rich countries and developing markets. As a result, the company (ONE) as a whole is expected to fall into the red for the entire fiscal year, he added.
ONE is making efforts to recover the trust of its customers, and by carrying out structural reforms, such as overcoming temporarily worsening factors like load reductions, and reviewing its freight portfolio, is working to rebuild a corporate structure which can be relied upon to deliver earnings.
"Instead of seeking to increase the scale of dry bulk, automobile shipping, energy and logistics and related operations, which form our company's business, it is our policy to advance a reform towards a business which makes a new kind of value, unique to us, which anticipates changes in our clientele, by means such as the construction of a business model adapted to changes in society, and adapting to digital technologies such as artificial intelligence and the internet of things," Murakami added.
"For digital technology activities there is the AI-digitalization advancement section, while for lateral group strategies and dealing with customers, there is the marketing strategy section. Working in coordination these sections will cooperate with departments both inside and outside the group and the company, forming a structure which provides new added value to our customers," said Murakami.Posted On:7-Jan-2019
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Nigeria: Maritime industry to grow by 5% this year
The Nigerian Maritime industry has been projected to grow from 2.5 to five per cent this year. This growth, according to stakeholders, will result in hiring more maritime services in the course of the year. The growth period, they said, will cover the 2019 general elections and the post-election era.
The projection is contained in the Nigerian maritime industry forecast for 2018/2019 unveiled in Lagos by the Nigerian Maritime Administration and Safety Agency (NIMASA) Director-General, Dr. Dakuku Peterside.
The forecast showed that Nigerians should expect total fleet size to grow by 4.41 per cent this year.
According to Peterside, the outlook is the key parameter that will drive the maritime industry. He highlighted some other key drivers of the sector as geographic factor, availability of skilled labour force, an efficient and effective regulatory environment, manpower and human capacity development, maritime infrastructural development, globalisation and new technology, among others.
The projection also revealed that oil tanker fleet size will increase by 1.7 per cent during the period under consideration, while the non-oil tanker fleet size is expected to attain 8.72 per cent this year.
Peterside, who underscored the role being played by the maritime sector, said it's a propeller in the exploitation, distribution and exportation of the nation's ocean resources, with a total annual freight cost estimated at between $5 billion and $6 billion annually. He said the maritime component of the Nigerian oil and gas industry is worth an estimated $8 billion, which further reflected the prominence of maritime to the Nigerian economy.
"As a regulator, we are driven by values and commitment, as these are the only ways that investors can be attracted to harness the great potential in our maritime sector. On our part, we will continue to work out incentives and maritime sector specific interventions to attract investments," Peterside said.
He said the forecast reviewed developments in the industry in 2017; showed expected international and local developments in policy and regulatory environment for the maritime sector last year and this year and also takes a look at emerging opportunities and challenges for the maritime industry. He added that all were done with the sole aim of realising a robust and business friendly maritime domain that will also make avenues for economic prosperity.
Peterside identified five bills undergoing legislative processes in the National Assembly as key regulatory developments in the maritime industry that will affect the maritime sector this year.
These are the Anti-Piracy Bill; the establishment of the Maritime Development Bank; Inland Fisheries Amendment Bill; the Deep Offshore and Inland Basin Production Sharing Contract Amendment Bill and the Cabotage Act Amendment Bill 2017.
He said when passed into law, they will help realise the dream of making Nigeria the maritime hub in Africa this year.Posted On:7-Jan-2019
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DFDS Awarded Brexit Contract by the UK
Danish shipping and logistics company DFDS has been awarded a contract by the UK government to provide additional ferry capacity in the North Sea.
The UK Department for Transport awarded the contract to the ferry operator in order to prepare for "the possibility of severe congestion at and around UK ports from 29.3.2019, caused by increased border checks by European Union Member States".Posted On:7-Jan-2019
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ONE Thailand Reaches 1 Mn TEUS of Container Shipments
Ocean Network Express (ONE) Thailand recently achieved a milestone by attaining 1 million TEUs, merely 9 months into the business.
From January to December 2017, the export & import laden containers volume in Thailand was 8 Million TEUs.Posted On:7-Jan-2019
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Fuel Spills from Maersk Ship during Bunkering in Hong Kong
An unknown quantity of bunker fuel has spilled from a container vessel owned by Danish shipping giant Maersk during bunkering operations in Hong Kong, a company spokesperson confirmed to World Maritime News.
"We can confirm that on January 6 our container vessel Maersk Gateshead had oil spilling during bunkering operations while at berth at Modern Terminal Limited in Hong Kong," the statement read.Posted On:7-Jan-2019
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Norwegian Maritime Authority: New Legislation in Fjords to Enter into Force in February
The new environmental legislation regarding the world heritage fjords will enter into force with a slight delay, the Norwegian Maritime Authority (NMA) informed.
Originally planned for January 1, 2019, the entry into force of the new legislation is now scheduled for the end of February 2019.Posted On:7-Jan-2019
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Freighter stuck in Kiel Canal, blocked traffic
General cargo ship LOUISE AUERBACH lost control and stuck into embankment at Suchsdorf, Kiel Canal, at around 1200 UTC Jan 6, shortly after leaving Holtenau locks. The ship blocked Canal traffic. Tugs manager to release her at around 1330 UTC, turned her around and took her to Projensdorf, where according to AIS, she was moored at 1430 UTC. No information on damages.Posted On:7-Jan-2019
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Container ship YANTIAN EXPRESS fire UPDATE all crew evacuated
Jan 6 evening UPDATE: On Jan 6 the rest of crew were transferred from YANTIAN EXPRESS to salvage tug SMIT NICOBAR. All 23 crew are now on board of SMIT NICOBAR, which is continuing firefighting in improved weather conditions, but weather is to deteriorate soon, said US Coast Guard.Posted On:7-Jan-2019
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MSC to Fully Pay for North Sea Cleanup
Swiss shipowner Mediterranean Shipping Company (MSC) has pledged to pay the full costs of the cleanup of the MSC Zoe container spill in the North Sea.
"MSC is committed to continue searching the sea for the containers which fell overboard, until the last one is found," the company said on SaturdayPosted On:7-Jan-2019
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ICTSI to operate a port in Sudan
Billionaire Enrique Razon s International Container Terminal Services Inc said its subsidiary signed an agreement to operate, manage and develop a port in Sudan in northeast Africa.
ICTSI Middle East DMCC will run the South Port Container Terminal under a 20-year concession agreement with the Sea Ports Corp of Sudan, ICTSI told the stock exchange.Posted On:7-Jan-2019
Credits: www.bunkerportsnews.com |
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Maersk Line to start serving to key Somali port
The Maersk Line, one of the largest shipping companies in the world, is expected to start serving to Somalia s Mogadishu Port, according to the port’s authority on Saturday.
In a statement, the Mogadishu Port Authority said Maersk Line, which serves over 130 countries around the world, would start working at the Mogadishu Port, without providing a specific date.Posted On:7-Jan-2019
Credits: www.bunkerportsnews.com |
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Marine shipping safety shifts towards human-centred approach
The Port of Vancouver is the third largest container port in North America and the 47th largest in the world. It handles around $100 billion-worth of container cargo each year, and, in 2017, it accounted for 42% of the cargo handled by all Canadian ports.Posted On:7-Jan-2019
Credits: www.bunkerportsnews.com |
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Colombo Port, 11th best connected in the World
Colombo International Container Terminals (CICT) has reported handling 2.65 million TEUS for the 12 months ending December 31, 2018, recording a 13 per cent increase in its annual throughput and contributing 38 per cent of the Port of Colombo s volumes in the year just concluded.Posted On:7-Jan-2019
Credits: www.bunkerportsnews.com |
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Shipless Brexit ferry company has no port deal for emergency services
Questions swirl over "company from nowhere" that was awarded a £13.8 million-pound ($18 million) contract for shipping across the English Channel after Brexit.
Seaborne Freight is a new ferry company that owns no ships and has not completed operator contracts with the ports of Ramsgate in England and Ostend in Belgium to provide an additional route to the European mainland.Posted On:7-Jan-2019
Credits: www.bunkerportsnews.com |
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