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.: 10-Oct-2019 :. Search News
Displaying 1 to 14 of Records.
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Panama Canal Handles Record Tonnage in 2019 Fiscal Year
The Panama Canal has closed the 2019 fiscal year with a record tonnage of 469 million Panama Canal tons (PC/UMS), a 6.2 percent increase compared to the previous fiscal year.
With this figure, the waterway exceeds the 450.7 million PC/UMS tons projection for FY 2019, as well as the record tonnage of 442 million PC/UMS tons registered a year ago.
"These record-setting results reflect the canal workforce s commitment to efficiency and ongoing investments in infrastructure, which will allow the waterway to meet the growing demand and offer a reliable and safe service to customers," the Panama Canal Authority said.
During FY 2019, transits for the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) segments rose by 37.6 and 6.9 percent respectively, representing the largest gain across all segments. Additional segments with significant transit increases included crude product tankers with a 5.6 percent increase and vehicle carrier/RoRo with a 5.5 percent increase, compared to the previous fiscal year.
In terms of tonnage, the container segment continued to dominate with 164.87 million PC/UMS tons during FY 2019, of which 126.2 million PC/UMS tons transited through the Neopanamax locks. Leading segments also include bulk carriers at 76.5 million PC/UMS tons, vehicle carrier Ro/Ro at 53.1 million PC/UMS tons, chemical tankers at 44.3 million PC/UMS tons, LNG vessels at 43 million PC/UMS tons, LPG vessels at 37.8 million PC/UMS tons, crude product tankers at 22.6 million PC/UMS tons and passenger vessels at 9.9 million PC/UMS tons.
The main routes using the Panama Canal by cargo tonnage in the period connected the U.S. East Coast and Asia, followed by the U.S. East Coast and the West Coast of South America, Europe and the West Coast of South America, the U.S. East Coast and the West Coast of Central America, and the U.S. intercoastal route.
The main users of the waterway during FY 2019 were the United States, China, Japan, Chile and Mexico.

Posted On:10-Oct-2019



Teekay Shuttle Tankers Issues USD 125 Mn Green Bonds Due 2024
Teekay Shuttle Tankers has placed USD 125 million senior unsecured green bonds due October 2024.
The proceeds from the bond issue will be used in accordance with Teekay Shuttle Tankers green bond framework to partially fund four E-Shuttle newbuilds currently under construction and with planned deliveries in 2019 and 2021.
SEB acted as global coordinator, sole green advisor and joint lead manager. Danske Bank, DNB and Nordea acted as joint lead managers.
The company said that an application would be made for the bonds to be listed on Oslo Stock Exchange.
In late September, the Bermuda-based shuttle tanker owner revealed its plans to launch the green bond issue. At the time, the company said it was looking to raise up to USD 150 million to finance the vessels under construction.

Posted On:10-Oct-2019



MISC Orders LNG Carrier Duo, Inks Charter Deals with Exxon
Malaysia s MISC Berhad has placed an order for two new liquefied natural gas (LNG) carriers with South Korea s Samsung Heavy Industries (SHI).
The 174,000 cbm LNG carriers were ordered under a KRW 485.3 billion (USD 406.2 million) deal, according to an SHI stock exchange filing. The units are scheduled for delivery by the end of the first quarter of 2023.
The vessels will feature state-of-the-art technologies including XDF propulsion, Mark III Flex Plus containment system and full re-liquefaction facility for higher efficiencies and to meet the demand for worldwide trading and long-haul voyages, the company explained.
MISC subsequently secured time charter contracts for the LNG carrier duo with Exxon Mobil Corporation s subsidiary, SeaRiver Maritime.
Each of the LNG carriers would be deployed on a 15-year charter contract to serve the transportation needs of ExxonMobil s worldwide LNG portfolio.
"The addition of these two vessels will help us build a competitive LNG value chain as ExxonMobil continues to grow its global gas portfolio and expand supply positions to meet evolving needs of our customers," Alex Volkov, Vice President of Global LNG Marketing at ExxonMobil, said.

Posted On:10-Oct-2019



NRF: Imports at Major US Ports to Surge Ahead of December Tariffs
Imports at major U.S. retail container ports are expected to hit their highest level of the year again next month just before more tariffs take effect in December.
New 15 percent tariffs on a wide range of consumer goods from China took effect at the beginning of September and are scheduled to be expanded to additional goods on December 15, covering a total of about USD 300 billion in imports. In addition, 25 percent tariffs on USD 250 billion worth of imports already imposed over the past year are scheduled to increase to 30 percent on October 15.
According to the Global Port Tracker report by the National Retail Federation and Hackett Associates, the volumes
"This is the last chance to bring merchandise into the country before virtually everything the United States imports from China comes under tariffs," Jonathan Gold, National Retail Federation Vice President for Supply Chain and Customs Policy, said.
"The effect on prices will vary by retailer and product during the holiday season, but ultimately these taxes on America businesses and consumers will result in higher prices. We urge the administration to use this week s talks with China to make progress toward ending the trade war and return to policies that promote long-term economic growth and prosperity for American families."
"Let there be no doubt, U.S. trade policies and enforcement mechanisms have directly caused a global slowdown in economic growth," Ben Hackett, Hackett Associates Founder, added.
Nonetheless, imports are continuing to grow as retailers bring merchandise into the country ahead of tariffs.
"The strength of retail consumption will push any meaningful slowdown in imports into next year, when the full impact of the tariff wars will be translated into a consumption tax felt by consumers."
U.S. ports covered by Global Port Tracker handled 1.97 million TEUs in August, the latest month for which after-the-fact numbers are available. That was up 0.2 percent from July and up 3.9 percent year-over-year, and was the second-highest number of containers imported during any month of the year after last October s record of 2 million.
Numbers dipped in September as new tariffs took effect, coming in at an estimated 1.9 million TEU, up 1.6 percent year-over-year. October is forecast at 1.93 million, down 5.1 percent from last year s record volume. November is forecast at 1.97 million TEU, which would be up 8.9 percent year-over-year and tie August as the second-highest number of containers in a single month. But imports will fall to 1.78 million TEU in December, down 9.3 percent year-over-year. The expected drop from November will come as December s tariffs take effect, but the month historically sees a falloff in imports because most holiday merchandise has already arrived by that point.

Posted On:10-Oct-2019



Tufton Oceanic Expands Fleet with Secondhand Containership
UK s fund management company Tufton Oceanic Assets Limited has agreed to expand its fleet with the acquisition of a containership for USD 8.75 million.
The company said that the vessel is time chartered to part of a major, investment grade, container shipping group for at least three years.
The forecasted yield exceeds the targets expressed in the company s prospectus dated September 25, 2018.
This is Tufton Oceanics first investment funded entirely from the proceeds of the share placement, through which the company raised USD 31 million in late September 2019.
At the time, the company said it opted for the move in order to capitalise on "an attractive pipeline" of secondhand vessels.
The latest addition pushed the company s fleet to seventeen vessels.

Posted On:10-Oct-2019



Awake.AI Joins One Sea Alliance
One Sea, the industry alliance which promotes the goal of self-guiding shipping, has welcomed Awake.AI as a new member.
"We are delighted to welcome Awake.AI on board: enabling the smooth flow of data between different players is integral to One Sea s roadmap to transition from remote monitoring to remote control, and to increasing vessel autonomy by 2025," Jukka Merenluoto, Ecosystem Lead, One Sea, commented.
"We also advocate the benefits of maritime digitalisation in its own right, to minimise incidents, decrease marine traffic s environmental footprint and improve commercial efficiency."
As informed, Awake.AI aims to make a new platform and machine learning (ML) models based on transparent data sharing to break down the barriers between ships, ports and other actors in the maritime logistics chain.
The "virtual infrastructure" will be vital if ports are to handle autonomous ships successfully from pre-arrival, through cargo operations and to onward departure, according to the Finnish start-up.
"Today s data silos result from legacy systems developed when interoperability wasn t a pressing need," Karno Tenovuo, Awake.AI CEO, said.
"Moving forward, the more information is shared, the greater are the opportunities to automate. Our task is to develop the digital handshakes (APIs) between different supply-chain actors, freeing data to enable smarter ships and ensure their acceptance by smart ports."
Drawing on experience from digital innovators that include Nokia, Microsoft, Rolls-Royce Marine, Aker and academia, Awake.AI leverages collective expertise in intelligent and autonomous ship systems, AI data pipelines, system architecture, cloud and network design and cyber security.
Joining ONE SEA brings Awake.AI into a commercially neutral industry cluster that already plays host to the technology leaders in autonomous shipping, including ABB, Cargotec, Ericsson, Inmarsat, Kongsberg Maritime, MTI, Tieto and Wärtsilä as well as a range of other maritime stakeholders.
"Our membership includes the well-established technology firms making the running on autonomous ships, but it is important we accommodate newer players, like Awake.AI, who can bring fresh perspectives on how to meet the challenges on the road towards realising workable autonomous solutions," Merenluoto further said.
"Already, we are having conversations with One Sea stakeholders from across the ecosystem to work through strategies to make standards and pathways that will facilitate autonomous shipping," Tenovuo concluded.

Posted On:10-Oct-2019



BIMCO: Shipping Industry Dented by Soybean Trade Developments
Combined soybean exports from Brazil and the U.S. are down 7.8% in the first eight months of this year, as the main Brazilian soybean export season disappointed, according to BIMCO.
The fall in volumes from the two countries has also led to an 8.5% drop from last year in the tonne mile demand generated by the two dominant soybean exporters.
In particular falling exports from Brazil have hurt the shipping industry, with accumulated soybean exports from Brazil in the first eight months of this year 7.8 million tonnes lower than the first eight months of 2018, BIMCO explained. This has resulted in tonne mile demand from Brazilian exports falling by 12.9% or 83.7 billion tonne miles.
U.S. soybean exports in August 2019 were the highest they have ever been in the month of August reaching 4.5 million tonnes, 1.4 million tonnes higher than exports in August 2018. However, this growth does not make up for the loss in tonne mile demand from Brazil, which exports higher volumes of soybeans than the U.S.
"The coming months will determine the outcome of the year for seaborne U.S. soybean exports, with early signs that exports since September 1 seem to be following the usual pattern of increasing through September ahead of a peak in late October and November. This would be good news for the shipping industry, but it is currently too early to call the season a success," Peter Sand, BIMCO s Chief Shipping Analyst, said.

Posted On:10-Oct-2019



Kongsberg, MAN ES to Collaborate on Common Data Infrastructure for Maritime Sector
Norwegian maritime technology group Kongsberg and Germany s MAN Energy Solutions have signed a memorandum of understanding (MOU) with the purpose of exploring the potential for collaboration on a common data infrastructure for the maritime sector.
As informed, the collaboration between the industrial software company and the engine and marine solution provider aims to solve a key challenge for the broader adoption of digital solutions, namely the high cost of capturing quality data from the vessels, which leaves vessel owners and operators with an unattractive ROI on their digital investments.

Posted On:10-Oct-2019



Fourth New 5,400-Lane-Meter RoRo Ship Joins CLdN Fleet
Completing the second phase of its fleet renewal program, European short sea RoRo specialist CLdN has welcomed the fourth 5,400-lane-meter (lm) vessel of the series, the MV Hermine, into the fleet.
As informed, the 50,443 GT newbuild ended its maiden voyage in Zeebrugge on October 4, 2019.
MV Hermine is the sixth vessel that joined the company since the newbuild strategy was announced in 2016, with a target to introduce twelve new vessels in subsequent years overall.

Posted On:10-Oct-2019



World s biggest container shipping line eyes Lamu Port
World s largest container shipping company-Maersk is eying Lamu Port, a boost to the facility which is slowly getting international maritime players attention.
Known as Mærsk A/S, the Danish business conglomerate with activities in the transport, logistics and energy sectors, is ready to call at the new port facility, the Star has established.

Posted On:10-Oct-2019



Credits: www.bunkerportsnews.com

USPA: The Tender Board has started accepting applications for concession tender in the seaport of Kherson
The Tender Board which was established by the Ministry of Infrastructure of Ukraine has started accepting applications to take part in the concession tender for the transfer of the assets of the state stevedoring company and of the assets of the "Ukrainian Sea Ports Authority" State Enterprise (hereinafter - USPA) in the sea port of Kherson in concession.

Posted On:10-Oct-2019



Credits: www.bunkerportsnews.com

Vietnam: Number of scrap containers stuck at ports reduced by half
As many as 10,102 scrap containers were held up at Vietnamese ports as of mid-September, a fall of 10,852 containers as compared to the end of 2018, according to the General Department of Vietnam Customs.
The reduction is attributable to the strong instruction and drastic measures taken by relevant ministries and agencies.

Posted On:10-Oct-2019



Credits: www.bunkerportsnews.com

Tanzania Ports Authority Forecasts Improved Revenue
The Tanzania Ports Authority (TPA) is targeting to increase its port revenue collections by nearly six per cent - and reach Sh1 trillion annually beginning next year - as cargo handling is picking up.
TPA is also implementing expansion and rehabilitation projects in the country’s ports, even as it takes measures that are designed to attract more clients.

Posted On:10-Oct-2019



Credits: www.bunkerportsnews.com

Ports of Rotterdam and Amsterdam: Joint preparations and traffic management for a possible no-deal Brexit
All partners including Customs, the Port of Rotterdam Authority, the Port of Amsterdam Authority, PortBase and the involved municipalities are working hard on preparations for a possible no-deal Brexit on 31 October 2019. The aim of the coordinated action is to minimise any delays resulting from additional customs formalities at Rotterdam en Vlaardingen ferry terminals.

Posted On:10-Oct-2019



Credits: www.bunkerportsnews.com
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