|.: 30-Nov-2019 :.
|Simpson Spence Young Makes Investment in Marine Benchmark|
Shipbroker Simpson Spence Young (SSY) has decided to strengthen its Big Data capability by investing in Swedish tech company Marine Benchmark, a specialist in maritime data analytics.
As informed, the new partnership is expected to enhance and strengthen SSY s client offering, as Marine Benchmark will provide expertise in statistical analysis across a wide range of maritime market data.
Meanwhile, SSY s resources and reach will further strengthen the Marine Benchmark s presence in the global market for maritime research and data, the company said.
"We are entering a new era in shipping, where data technology and intelligence is becoming increasingly important. Big Data has a pivotal role to play, in everything from vessel design and fleet performance right through to cargo delivery and benchmarking the IMO s CO2 emissions goals," Mark Richardson, Chairman of SSY, commented.
"Our collaboration with Marine Benchmark will utilise their expertise in this field, positioning SSY at the forefront of future machine learning and AI in shipping, supporting our brokers and adding value to our clients."
Marine Benchmark s global analytics platform contains a comprehensive range of vessel and voyage data derived from AIS, the shipping market and the financial industry.
"This is a significant move for Marine Benchmark, and we are very pleased to join forces with Simpson Spence Young so that we can further develop our platform and extend our global market reach. Shipping offers up a vast quantity of data, and our passion is to continue creating ways to generate value," Borje Berneblad, Vice President, Head of development, Marine Benchmark, said.
"Understanding what is happening at a granular level is key to making changes that can drive improvements across the shipping industry, and no matter what field you work in, be it a shipowner, trading house, shipyard, investor or financial institution, our global statistical platform can provide you with that information." Torbjorn Rydbergh, Managing Director, Marine Benchmark, explained.
Read More ...
|Niras Wins Contract for Tanzania s Tanga Port|
Danish consultancy company Niras has signed a contract for the study and design of a new oil terminal and the expansion of Tanzania s second-largest port, the Port of Tanga.
The agreement, signed with Tanzania Ports Authority, also includes a masterplan for the strategic development of the ports in this East African country during the next 25 years.
For this purpose, Niras has formed a consortium consisting of Anova Consult from Tanzania, MTBS from the Netherlands and ILF from Germany.
The construction phase is expected to start in a year, and the expansion of the Port of Tanga is projected to have a duration of two and a half years, the company said.
"This agreement provides us with a unique opportunity to contribute to the development of the ports of Tanzania. We will strive to make the port projects sustainable elements of the Tanzanian port infrastructure while contributing in a positive manner to the economic development of the country," Carsten Heine Lund, Niras Senior Vice President, commented.
Tanzania has three international ports, with Dar es Salaam being the largest. Recent developments in the region have made it necessary to expand both Port of Mtwara in the southern part of the country and Port of Tanga in the north to meet increased demands for international port capacity, according to Niras.
"Tanzania is still dependent on fossil fuels, which are necessary in order to make long term development in the country. The new oil terminal in Tanga will contribute to make economic growth and hundreds of jobs. We will … make sure the terminal is constructed to the highest environmental and safety standards," Carsten Heine Lund added.
Read More ...
|Klaveness Names 2nd Combination Carrier after First Cargo Switch|
Norway-based shipowner Klaveness Combination Carriers (KCC) has named its second CLEANBU vessel after it completed a first switch between dry cargo and a cargo of clean petroleum products (CPP).
The vessel loaded a cargo of gasoline in India for Singapore after completing discharge of alumina and cleaning the cargo tanks for CPP cargo in the Middle East in October. On this dry-wet round-voyage MV Barracuda effectively reduced the carbon footprint for this transportation work by 32% by replacing less energy efficient dry bulk and tanker vessels.
Named last week at anchorage outside Singapore, the MV Barracuda was delivered in July this year.
As all the other CLEANBU vessels, MV Barracuda was named after a "sea creature" to show the company s commitment to clean oceans.
According to KCC, CLEANBU vessels produce 30- 40% less GHG emission on the same transport work as standard dry bulk and tanker vessels.
Read More ...
|DecarbonICE: New Carbon Capture Project Gains High-Level Traction|
DecarbonICE, a project led by former DNV GL head Henrik Madsen with the aim of leading the industry to carbon negative shipping, has garnered support from a number of major players from the industry.
Shipping companies NYK, Sovcomflot, Knutsen OAS and Ardmore, ship builders, including Daewoo Shipbuilding and Marine Engineering, and the mining company Vale, have all teamed up with the Denmark-based Maritime Development Center (MDC) to develop an on-board carbon capture and storage solution that will help the industry achieve the IMO 2050 target of a 50% CO2 emissions reduction compared to the 2008 level.
DecarbonICE is based on two new main ideas for the capture and storage part, respectively. The CO2 and other GHG’s in the ship exhaust are captured on board in a cryogenic process and turned into dry ice.
Proven offshore technology is then applied during normal ship operations to transport the dry ice into the seafloor sediments. Here the CO2 will be safely and permanently stored as liquid CO2 and CO2 hydrate.
The concept is intended for ship newbuildings, but also for retrofitting on existing ships, thereby providing the opportunity to accelerate the transition towards the IMO target. In combination with future carbon neutral fuels like biofuels and electro fuels, the decarbonICE technology can make carbon negative shipping and thus contribute to atmospheric carbon reduction at a significantly lower cost than shore-based carbon capture, according to MDC.
The project started October 1, 2019 and will run through 2020. The aim is to prepare a feasibility study and to initiate the IMO approval process for the technology.
"While we support a final goal of availability of zero carbon or carbon neutral fuels, we believe that a bridging carbon free solution is needed, which can utilize existing assets in terms of ships, propulsion systems and fuels. The decarbonICE project is intended to offer exactly that, and at a predicted low energy penalty well below 10%," Chairman of the decarbonICE project, former DNVGL President and CEO Henrik O. Madsen, said.
"The maritime industry seems to be overlooking that on-board carbon capture with
subsequent storage at appropriate sites may also qualify as a carbon free solution," Odin KWON, CTO of DSME, added.
"At DSME we are following several Korean research groups studying the behavior of CO2 injected into seabed sediments. The success of the decarbonICE project will also depend on how the required power can be minimized for the cryogenic cooling process."
Read More ...
|Move to sell terminal raises questions in shipping circles|
News that French container shipping giant CMA CGM is planning to raise more than US$2 billion through vessel sale-and-lease-back deals and by selling port assets, including in Jamaica, has raised questions in shipping circles as to which company did the Port Authority of Jamaica (PAJ) reach a concession agreement to develop and operate Kingston Container Terminal Ltd four years ago.
The shipping company s decision was reported in Lloyds List Maritime Intelligence on Monday this week.
According to the report, CMA CGM said the funds will help finance the acquisition of logistics operator CEVA Logistics, which the French company bought earlier this year.
"It will raise US$968 million through the sale of its stake in 10 port terminals to Terminal Link, its joint venture with China Merchants Port (CM Port)," the Lloyds List report stated.
"Hong Kong-listed CM Port said in an exchange filing that the two parties have signed a memorandum of agreement on the proposed acquisition, which consists of 10 container terminals located in Asia, Europe, Middle-East and the Caribbean that are owned by CMA CGM or its affiliates," Lloyds List reported.
According to the report, in an effort to finance the deal, "the State-owned port giant has agreed to subscribe mandatory convertible bonds of up to US$468 million to be issued by Terminal Link, and at the same time, to provide the joint venture an eight-year loan of up to US$500 million. Both facilities carry an annual interest rate of six per cent".
In a Ministry Paper dated April 20, 2015, then Transport, Works and Housing Minister Dr Omar Davies had told the House of Representatives that the Port Authority had "entered into a long-term concession with Kingston Freeport Terminal Ltd (KFTL), a special purpose vehicle formed by the preferred bidder, the Terminal Link Consortium, to finance, operate, maintain and transfer the Kingston Container Terminal".
Davies had also explained that KFTL is jointly owned by Terminal Link and CMA CGM with equity interests of 40 per cent and 60 per cent, respectively.
Yesterday, in response to questions from the Jamaica Observer, Port Authority President and CEO Professor Gordon Shirley said the concession had been provided to KFTL, which he described as a special purpose vehicle owned 60 per cent by CMA Terminal Holdings and 40 per cent by CMA CGM.
CMA Terminal Holdings is owned 100 per cent by CMA CGM. On the other hand, Terminal Link is owned 51 per cent by CMA CGM and 49 per cent by China Merchants Port Holdings.
Professor Shirley also confirmed that the concession agreement provides that a change in control requires prior written approval of the PAJ.
"Our information is that there has been no change in control of the ownership structure of KFTL nor transfer of ownership otherwise," Shirley said.
However, last night a shipping industry analyst argued that, "If the information contained in the Hong Kong regulatory filing is correct, CMA CGM and its wholly owned subsidiary CMA Terminal Holdings will be transferring the Kingston Container Terminal, renamed KFTL, to Terminal Link, a separate legal entity. If this deal goes through, there would be a change in ownership".
In response to the Observer s question as to whether the PAJ had been approached for approval of the sale, Shirley said: "KFTL/CMA CGM have informed the PAJ of the proposed change in shareholding."
Read More ...
|Sri Lanka to expedite development of East Container Terminal of Colombo Port|
Sri Lanka s new Minister of Roads, Highways, Ports and Shipping Johnston Fernando said that the new government aims to expedite the development of the East Container Terminal (ECT) of the Colombo Port in order to boost container throughput, local media reported here Thursday.
During a meeting held at the Ports Ministry auditorium here, Fernando asked port officials to submit detailed reports on actions that should be taken to develop the ECT. Fernando said that development of the terminal was crucial for increasing container throughput and maintaining the Colombo Port s status as a hub on the Indian Ocean.
Previously, while assuming duties as a cabinet minister on Nov. 25, Fernando said talks have been held with the business community about fast-tracking the construction of the ECT. "A port is similar to the heart of a country. Therefore, as the port sector plays a crucial role in posting positive statistics for a country s economy, our administration is primarily focused on improving efficiency to ensure expansion of the sector," Fernando told local media.
In May 2019, the Sri Lankan government signed a Memorandum of Cooperation (MoC) with Japan and India to jointly develop the ECT. According to the agreement, the Sri Lanka Ports Authority (SLPA) will retain 100 percent ownership of the ECT while the administration will be handled by a jointly owned Terminal Operations Company (TOC) of which the Sri Lanka Ports Authority will hold a 51 percent stake.
The first phase of the ECT was completed with an 80-million-U.S. dollar loan from the Bank of Ceylon (BOC) in 2015. The second phase of development is expected to be financed by a proposed 500-million-dollar loan from Japan.
Read More ...
|Revised port vision gives direction to Port of Rotterdam ambition|
The city council of Rotterdam has today adopted the revised Port Vision. The creation of economic and societal value and realising sustainable growth form the core of the revised Port Vision. The revised Port Vision was approved by the Port of Rotterdam Authority s Supervisory Board earlier this year. Now that the city council of Rotterdam has also adopted the revised Port Vision, this finally replaces Port Vision 2030, which dates from 2011.
Allard Castelein, Port of Rotterdam Authority CEO: An intensive process has resulted in a fantastic and widely supported vision that focuses on further increasing the Port of Rotterdam s leading position with respect to the energy transition and logistics.
The Port Vision indicates the Port of Rotterdam s ambition for the future and also acts as a compass: ambitions are a spot on the horizon, even when the circumstances change. The revised Port Vision was developed in partnership between the Port of Rotterdam Authority, the Municipality of Rotterdam, national government, Deltalinqs and the Province of South Holland. The partners will monitor progress via annual progress reports.
Reason for the revision
The world around us is changing and that also influences the Rotterdam port and industrial complex. These changes include the energy transition, the raw material transition and digitisation. That was the reason for revising Port Vision 2030. This revised version describes the future perspective for the port and industrial complex based on current insights, and in doing so makes the 2011 vision future proof.
Ambitions tightened with accent on increasing societal value
Rotterdam aims to be a frontrunner in sustainable and efficient supply chains. The revised Port Vision has adopted each of the ambitious objectives exactly as stated in the Rotterdam contribution to the Climate Agreement (Rotterdam-Moerdijk). The Sustainable Development Goals (SDGs) adopted by the United Nations for sustainable economic development are also given a central position. In doing so, the above-mentioned five parties are underlining the importance of creating societal and economic value.
Read More ...
|Lessons Threat on fair level playing within the maritime logistics chain|
FEPORT warns Regulators about a serious threat on fair level playing field within the maritime logistics chain.
EU regulators decision to opt for the status quo and to reject necessary clarifications and adaptations of texts can be detrimental to the level playing field within the maritime logistics chains.
During their General Assembly meeting held on November 27th, 2019, FEPORT members have discussed a number of topics including the European Commission s proposal to prolong the Consortia Block Exemption Regulation (BER) for another 4 years, without modification.
According to the Commission, the findings of the evaluation demonstrate that the objectives and justifications for the Consortia BER remain valid and that the market conditions of the liner shipping sector still appear to necessitate the existence of a sector specific BER.
At the same time, the Commission acknowledges that there is no accurate data regarding the Consortia BER and that it is therefore difficult to assess whether some consortia are below 30% in terms of their market share. According to the Commission s assessment, only one fifth of consortia falls within the scope of the Consortia BER given that it could be said with certainty that their market shares are below 30%.
"The dearth of data also begs the question of how the Commission monitors the compliance of the three powerful liner shipping alliances that fall outside the scope of the regulation. It is clear that the current framework is no longer adequate to task given ever increasing market concentration that goes hand-in-hand with joint purchasing, as some lines seem to readily acknowledge", said FEPORT President, Mr Gunther Bonz.
"In short, users of liner shipping services and their service providers have suffered from an increasingly unbalanced market situation since carriers entered into major cooperation agreements. The Commission s apparent acceptance to prolong the Consortia BER without having information about real market shares is alarming and bewildering", added Mr Bonz.
The majority of the respondents to the consultation including vessel charterers has called for the inclusion of provisions that would improve the text and guarantee a more balanced relationship between shipping lines, their customers and service providers. Yet, the Commission has proposed to prolong the Consortia BER without any amendments, dismissing the market related arguments of stakeholders in the maritime supply chain who called for modifications.
The EU Commission s approach as expressed in the Staff working document will reinforce the market unbalances and the lack of transparency that characterizes the monitoring of consortia market shares.
While FEPORT members believe that it is important for the EU shipping industry to benefit from specific instruments such as exemptions to the prohibition of state aid and cartels, they also reiterate their call for more transparency and an enhancement of important texts such as State Aid Guidelines for Maritime Transport and the Consortia BER. FEPORT is convinced that EU shipping as well as its customers and service providers will be more competitive if rules guarantee a level playing field to all parties of the maritime logistics chain.
Texts which have not been modified for 15 years must be updated to take into account market developments and additional provisions that have been adopted by the EU Commission through individual decisions.
FEPORT will prepare a response in reply to the public consultation on the Roadmap and the draft regulation, opened by the Commission on 20 November and share its concerns with all relevant institutional and non-institutional stakeholders.
Read More ...