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Displaying 1 to 6 of Records.
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New toll structure by Panama Canal Authority Functional by April next year
New toll structure have been approved by the Panama Canal Authority, it will be implemented on the existing locks and on the new and larger locks. The new toll would be functional by next year in the month of April.
The tolls are evaluated on the basis of Panama net tons, which is meant on the Panama Canal Universal Measurement System. It utilises formula to measure total ship volume, there are certain toll values which are charged. as per the report shared by a shipbroker Mr Charles R. Weber.
He added, “as far as laden tankers are concerned, it would be transiting the new larger canal locks, comprising of Aframaxes and most Suezmaxes.”
“It will offer new chances of some trades like medium-haul Aframax trades between the Atlantic and Pacific sides of the Canal – as well as certain longer-haul Suezmaxes trades.” says the shipbroker.
Taking into consideration its earlier example, Suezmax might appeal voyages from the Middle East and West Africa to the US West Coast.
As compared to earlier examples, at a standard of 130,000 MT cargo parcel only 65% of the Suezmax fleet will be capable of transiting the new canal locks.
Posted On:
21-May-2015
Credits:
www.hellenicshippingnews.com
Ship owners are seeking for investment in dry bulk market
Ship owners in the second hand ships market are seeking for exploit potential investment opportunities, specifically focusing on the dry bulk market.
“Post four months in this year, there is trend picking up which is of dry bulk sale candidates, that has on sale for a long time, and also discarded from the market due to lack of demand.” as stated by Intermodal’s shipbroker’s current report on the market.
By the end of first quarter, we are experiencing that leading greek owners introspection on modern Panamax/Kamsarmax/Supramax, it is taking a U-turn now for dry bulk asset values.” as told by Mr. George Iliopoulos - Intermodal’s SnP broker.
An example of the prevailing situation is “TORM ISLAND”, it has garnered great attention. It was purchased at an amount of USD 18.0m, 7% more than her sister vessel “TORM TRADER”, which was sold in the prior month.
Positively, the prices are getting stable, since last six months the sales have been not less than the prior one. It is indeed a remarkable achievement.The dry bulk asset prices had created tensions across the globe, still is not sure how the situation will occur, though providing relief in the market.
Posted On:
21-May-2015
Credits:
www.hellenicshippingnews.com
Al Ruwais port reopening in 3 months
As per the reports of a local Arabic daily which interviewed officials from the Fisheries Department in the Ministry of Environment, reopening of Al Ruwais port would take place in three months time, post finalisation development works.
“To reopen the port, the work is in progress, it will comprise of newly built storehouses of different sizes for fishermen, a restaurant, toilets and a yard to prepare fishing gear.” as told by the officials.
Meanwhile, talks are on between the department and Public Works Authority (Ashghal), with regards to the expansion and development of the at Al Wakrah and Al Khor and establishing well-equipped infrastructure.
“Department is aiding the fisherman with yearly support programme financially to conserve wooden fishing vessels.” as told by Muhsin Nasser, assistant head of the fishermen affairs section.
There are around 113 ships which took advantage of the programme at a total cost of QR1,659,000, at around QR15,000 per ship.
The department also gives high-quality baskets to collect and preserve fish at the commencement of every year. This is done keeping in mind that the commodity should be fresh while the consumers receives it.
Posted On:
21-May-2015
Credits:
www.hellenicshippingnews.com
Launch of new service by MSC in partnership with Maersk Line and Mitsui O.S.K. Lines
MSC has launched its new service with Vessel Sharing Agreement (VSA) with Maersk Line and Mitsui O.S.K. Lines (MOL). The company MSC always strives to enhance its services in between the routes of Asia as well as East Coast South America.
They would be delivering wide coverage in the routes of Asia and East Coast South America which would include two loops i.e. Loop 1 and Loop 2. There would be 22 vessels operating on these two loops
Below are the mentioned routes that will come under the radar of VSA:
1) Loop 1: Busan, Shanghai, Ningbo, Chiwan, Yantian, Hong Kong, Singapore, Santos, Paranagua, Buenos Aires, Montevideo, Rio Grande, Paranagua, Santos, Coega, Singapore, Hong Kong, Busan
2) Loop 2: Chiwan, Yantian, Hong Kong, Singapore, Santos, Sepetiba, Itajai, Navegantes, Sao Francisco do Sul-Santos, Sepetiba, Cape Town, Durban, Singapore, China
Once the birthing arrangements are determined, then they would announce the Transit times and final commercial schedules.
The commencement of the newly launched VSA will take place in the first week of July 2015. The departure of the first vessel would happen from the Far East. By June end, on the same route each and every VSA would be replaced by VSA 22.
Posted On:
21-May-2015
Credits:
www.hellenicshippingnews.com
Queen Mary University offers in Greece new LLM in international shipping law
In a tie-up between Queen Mary University of London and Hellenic Management centre, they have launched a newly designed programme called The LLM in International Shipping Law (Piraeus, Greece). The programmed is structured on the basis of London’s LLM in International Shipping Law.
On the panel would comprise of experts from the Centre for Commercial Law Studies of the Queen Mary University of London, UK’s leading research-focused higher education institutions with its Law Department, it is ranked as UK’s 3rd and London’s 1st law education institution.
Since its inception in the year 1999, Hellenic Management is dedicated to provide professional education and development for the shipping sector.
The programmed will help to students to achieve academic growth and instil the required skills in them.In this post graduate programme, the areas of specialisation would consists of global maritime law, including Maritime Arbitration, Charterparties: Law and Practice, Protection and Indemnity (P&I) Clubs,
Marine Insurance Law, Carriage of Goods by Sea, “Wet” Shipping Law: Collisions and other Incidents at Sea.
The candidates who are eligible for this programme are Lawyers, Law graduates, and Shipping Professionals, who have a work experience with a good academic background.
Posted On:
21-May-2015
Credits:
www.hellenicshippingnews.com
Port of Antwerp launches New Discount
Port of Antwerp has launched a new offer of discount, which can be availed by the ships, specifically using alternative technology to reduce emissions of particulates. In addition to the upcoming discount the current ESI discount would also be offered, where ships can take advantage of a discount at 30%, which can be availed on port dues.
Also, Antwerp Port Authority determined to promote investments in green technologies. The offer would be valid for span of three years.
Shipping is a major factor of local pollution even after taking such actions, which persist of Sox, NOx and particulates. To curb the issue there have been several acts taken place.
There is particulate discount introduced by Antwerp Port, in which ships can avail the discount if they show they efficient usage of scrubbers or utilise LNG power are for at least 24 hours prior they call at the Antwerp port.
Moreover, many eco-friendly ships are taking advantage of the ESI discount. ESI is meant on a credit system within a range of 0 -100, which can be benefited by the ships through eco-friendly performance.
As a part of the Port Authority’s sustainability policy these new discount have been structured, focusing to attain a sustainable shipping industry.
Posted On:
21-May-2015
Credits:
www.hellenicshippingnews.com
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