Maritime News

CMA CGM acquires Fifth Megaship

maritime news — Thu, 29 Jul 2010 13:13:57 +0000

CMA CGM said it took delivery of the CMA CGM Leo, the fifth in a series of 12 vessels that will be delivered between 2010 and 2011.

The new vessel will join the first two ships in this series, which includes the carrier’s flagship, the CMA CGM Christophe Colomb and the CMA CGM Amerigo Vespucci, on the French carriers’ FAL 5 (French Asia Line) service between Asia and Europe.

CMA CGM said the volume on the FAL 5 service has grown by 22 percent since the beginning of the year.

The vessel, with a capacity of 11,400 20-foot container equivalent units, start its rotation on July 8 in Ningbo before calling Shanghai, Yantian, Tanjung Pelepas, Port Klang, Le Havre, Hamburg, Rotterdam, Zeebrugge, Port Klang and Singapore.

CMA CGM said it will also take delivery beginning of August of CMA CGM Pegasus, a sister ship of CMA CGM Leo that will also be deployed on the FAL 5 service.

The CMA CGM Leo, which is registered in Valetta, is one of the largest containerships sailing under Maltese flag.

The carrier said another vessel in the series of 11,400-TEU ships that is scheduled to be delivered soon will also be registered in Malta, where CMA CGM operates the Malta Freeport Terminal.

The Journal of Commerce Online

Cosco Corp sails through Turmoil

maritime news — Thu, 29 Jul 2010 12:24:05 +0000

COSCO Corp (S), once a market darling, has seen its fortunes flow and ebb. In mid-2008, the Baltic Dry Index (BDI) which measures commodity freight rates was at its zenith of 11,793 points. Bulk carriers were commanding high volumes and shipyards around the world cheered at the influx of new contracts. Fast forward,

with the BDI hanging at around 2,300 points, the shipping industry and COSCO’s shares seem a far cry than it was 2 years ago.

Yet despite an extremely challenging 2009, COSCO managed to remain
profitable for FY09. Cancellations and rescheduling of contracts
notwithstanding, COSCO recorded a 64% decrease in net profit to $110m
from a year ago, on the back of $2.9b in turnover. COSCO also hit a
personal milestone by delivering the Sevan Driller, the world’s first
cylindrical deep-sea driller. A total of eleven vessels comprising eight
bulk carriers, one heavy lift ship, one accommodation and work barge
and one offshore driller were delivered to customers in FY09.

COSCO announced recently on 13 Jul that its partially owned subsidiary
had signed a US$130m contract with an European shipowner to build a
jack-up vessel to install offshore wind turbines. On 15 Jun, the company
announced that it had signed 11 contracts and 4 letters of intent
totaling US$440m with European shipowners to build 15 bulk carriers.
Earlier on 2 Jun, it also won 2 FPSO conversion contracts worth US$100m
from a Japanese and an European ship owners.

Growing Amid Uncertainties

There are several factors that might contribute to the recent pickup in
shipbuilding orders. Firstly, with the Chinese economy continuing to
grow at double-digit figures, there is an increase in its local domestic
ordering.

Secondly, the credit crisis and global recession have shut down some of
the smaller and weaker shipyards that were caught unprepared, as
cancellations and default orders swept across the shipbuilding industry.
This in turn has allowed COSCO to increase its market share as it fills
the void left behind by the demise of its competitors.

Also with the recovery in its early stages, vessel prices are still less
than its peak during the shipping boom. As a result some ship owners
are taking the chance to expand and increase its fleet to take advantage
of the low vessel prices at this time. Coupled with an easing credit
situation, this has helped fuel an increase in shipbuilding orders, as
banks today are more willing to lend.

The shipbuilding sector is expected to face increased competition as
shipyards compete for contracts. The volatile freight rates of late have
also caused ship owners to remain cautious over their expansion plans.
Should the global economy recovery pick up its pace however, we might
instead see a fresh wave of activities in the shipping industry.

COSCO, with its positive net cash position of $1.4b as of end of 1Q10,
appears to be well positioned to expand further should the outlook
improves. Nevertheless, with its present sizeable order book, it seems
capable of delivering positive results for FY10.

Source: Stockmarkets Review

Qingdao plans to build the worlds largest iron ore yard

maritime news — Thu, 29 Jul 2010 11:34:39 +0000

It is reported that recently, Qingdao plans to construct six large sized opening wharfs in Dongjiakou Port. World largest 0.4 million tonnes per year iron ore wharf and 0.45 million tonnes per year oil wharf one of the most important projects in Dongjiakou Port and is one the course of construction.

The project was divided into three stages for construction, with its
annual throughout capacity expected to hit at 192 million tons by 2030.

?The first-stage task aims to primarily to build a direct-and-transit
ocean shipping system for iron ore, crude oil and coal etc bulk cargo
transportation

To establish the pivotal position for Dongjiakou Port during 2016-2020

The last stage is to form the national bulk cargo distributing center and import energy-reserve center by the end of 2030.

As per report, Dongjiakou Port construction plan has been fully
confirmed by Ministry of Transport and Communications which is provided
with strong operation and driving forces.

Source: Steel Guru

The construction of the Khalifa Port and Industrial Zone moves ahead

maritime news — Thu, 29 Jul 2010 10:44:43 +0000

A contract worth $280m relating to the Khalifa Port & Industrial Zone (KPIZ) has been awarded by Abu Dhabi Ports Company (ADPC) under new cep Tony Douglas (pictured) to a joint venture between ED Zublin AG and Al Jaber Transport & General Contracting.

The agreement is for the detailed design, construction, fit-out, testing
and commissioning of the offshore port’s civil and structural building
works, which will provide the infrastructure necessary to support the
commencement of port operations in 2012. Work is due to begin
immediately and is scheduled for completion in August 2012.

Marine works include construction of over 1000mtr of quay wall and a
5.4km dual carriageway linking the offshore port to the mainland.

Source: SeatradeAsia-Online

Port of Long Beach receives approval for 716 million U.S. dollars budget

maritime news — Thu, 29 Jul 2010 09:54:41 +0000

The Port of Long Beach has received approval from the Board of Harbor Commissioners for a $716 million budget for 2011. It is 19% lower that the budget for 2010 but the port says it will allow continued aggressive investment in environmental and capital improvement projects.

The budget includes $474 million for development projects that will support about 4,000 regional jobs for the next fiscal year.

Another $71 million is earmarked for environmental programs such as the development of clean air technologies.

“Despite the global recession, the Port of Long Beach is in a strong
financial position,” said Port Executive Director Richard D. Steinke.

“But to remain competitive, we must look into the future. We must
continue to invest in projects to modernise and ‘green’ our operations.”

The budget calls for operating costs to be cut. Staffing levels will be held steady and non-personnel expenses will be reduced.

The budget cuts will not affect the port’s investment in environmental improvements and modernisation projects.

The port expects revenue from container terminals, which makes up 75% of
the port’s overall revenues, to rise 4% in the next fiscal year, but
other operations, such as interest and oil operations, is projected to
be lower.

With moderate revenue increases and a larger capital outlay, the port will draw $323 million from its reserve funds.

Part of the environmental spend will include the city’s Tidelands
project, which helps provide for city beach and marina services.

Source: Portworld

Improve port conditions require vessel group

maritime news — Thu, 29 Jul 2010 09:04:49 +0000

The Philippine Liners Shipping Association (PLSA) and the Philippine Petroleum Sea Transport Association (Philpesta) are urging the Aquino administration to undertake measures to decongest and improve activities in the country’s major ports.

The groups, in a position paper, said such conditions are not conducive to business.

They
are also urging Department of Transportation and Communication
Secretary Jose De Jesus to use modern technology to increase
productivity and also put in at least two cargo handlers in each port.

These
measures will ensure not only efficiency but also to spur competition
and prevent monopoly of port services that led to greater operational
expenses, they added.

Most of the PLSA and Philpesta members are
based in Manila’s North Harbor, a port facility presently experiencing
congestion and low levels of productivity.

The shipping organization
is also pushing for the strengthening of the present Cabotage Law, or
the act that allows a country to reserve coastwise trade to national
flag carriers and regulate the entry of foreign vessels.

Both PLSA
and Philpesta claimed that several foreign shipping lines are operating
on local waters through special permits issued by the Maritime Industry
Authority (Marina).

The groups said the Marina should not have given
the foreign-flag carriers special permit, as there is a surplus of
Philippine-flag vessels in the country.

On safety, PLSA and Philpesta
proposed that Marina and the Philippine Coast Guard (PCG) should
conduct an assessment on local crew competency, as well as audit the
different maritime schools if they comply with the requirements set by
law.

They added that students from the different maritime schools
continue to increase but could not graduate owing to the inability of
the different schools to provide the one-year apprenticeship program.

Marina and PCG were also asked to come out with the standards of inspection as well as train their pool of inspectors.

Both
agencies are also expected to come out with a complete checklist of
certificates that will be used to countercheck the documents that should
be presented by a vessel during inspection.

Source: PNA

Vale plans $ 11,300,000,000 iron ore mine in northern Brazil, IG News Reports

maritime news — Thu, 29 Jul 2010 08:15:28 +0000

Vale SA plans to invest $11.3 billion in an iron-ore mine in northern Brazil, IG reported, without saying where it obtained the information. The mine, scheduled to begin operating in 2013, will have capacity to produce 90 million metric tons a year of the steelmaking raw material,

the Sao Paulo-based news service said.

The mine will be located in the same region Vale operates Carajas, the world’s largest iron-ore mine, IG said.

Source: Bloomberg

Asia Crude-Rosneft offers Sept-Oct ESPO

maritime news — Thu, 29 Jul 2010 07:29:20 +0000

Rosneft, Russia’s largest oil producer, has offered six ESPO Blend crude lots for September-October loading via tender, a trader said. The loading dates for each of the 730,000-barrel ESPO lots are Sept. 7-10, Sept. 9-12, Sept. 11-14, Sept. 20-23, Sept. 28-Oct.1 and Oct. 3-6, he said.

The tender closes on July 27.

Russia’s largest oil producer Rosneft earlier sold via tender seven ESPO
crude lots for August-September loading at the strongest premiums in
nearly nine months.

Source: Reuters

Abu Dhabi port H1 cargo by 12 percent despite economic slowdown

maritime news — Thu, 29 Jul 2010 06:39:06 +0000

Slowed property development in Abu Dhabi hit container traffic at Port Zayed in the first half of the year but cargo volumes rose, helped by infrastructure projects and higher vehicle imports, a senior port official said on Monday.

The port handled 206,866 containers, down 7 percent, and 2.98 million
tonnes of general cargo, an increase of 12 percent, said Julian Skyrem,
acting chief executive of Abu Dhabi Terminals.

There was a 62 percent jump in vehicles handled, rising to 32,177 from
19,809. The number of cruise passengers rose by 52 percent to 111,407
from 73,113, he said.

Skyrem declined to give forecasts for the full year.

Abu Dhabi is the capital of the United Arab Emirates, where fallout from
the global financial crisis has put an end to a six-year construction
boom.

“We are seeing the effects of the reduction in construction activity
that led to the slight dip. However, industrialisation in Abu Dhabi is
having a positive effect,” Skyrem told reporters.

Abu Dhabi is investing billions of dollars in industry, infrastructure and tourism to diversify its economy.

Home to most of the country’s oil, it has fared better than other emirates such as Dubai.

Abu Dhabi Terminals is managed by DP World, which has been ringfenced
from asset sales by parent firm Dubai World DBWLD.UL, now grappling
with a $23.5 billion debt restructuring at the heart of the emirate’s
recent woes.

The port has a total capacity to handle 650,000 TEUs and 7.5 million tonnes of cargo.

It is expected to gradually shift operations to the new, larger Khalifa
port in Taweelah beginning in the fourth quarter of 2012.

Source: Reuters

Congestion at Rotterdam cost airlines

maritime news — Thu, 29 Jul 2010 05:50:18 +0000

Danish carrier Unifeeder has complained of “serious operational problems” and delays at terminals in Rotterdam following a surge in container imports from China, and has threatened to impose a congestion surcharge.

These delays at the the Euromax, ECT Home and ECT Delta terminals have
caused both delays and short-shipments of cargo to and from Baltic and
Scandinavian countries.

The situation, which is caused by a lack of manpower and increased
volumes, combined with delayed ocean liners, is causing peaks at
terminals exceeding their capacity.

“We are experiencing delays beyond 36 hours as well as short-shipments
on our Scandinavian and Baltic services, and the performance of the
terminals has prevented us from maintaining our planned schedule,” said
the company in a statement on July 16.

“We have experienced a loss of revenue and we have been facing
additional operational costs as a result of our vessels laying idle in
Rotterdam for a longer period of time, extra fuel consumption and
overtime costs in the wayports.

“Consequently, if this situation continues during the next weeks we will implement a congestion surcharge as from 1 August.”

Source: Baird maritime

Ports Group honors Port of LA

maritime news — Thu, 29 Jul 2010 04:59:14 +0000

The Port of Los Angeles earned 2010 American Association of Port Authorities awards in the areas of information technology, communications and environmental management.

The awards recognized Los Angeles in the information technology category
of its Enterprise Geographic Information System project, a $1.9 million
undertaking that integrates multiple platforms and consolidates
divisional efforts to overcome organizational challenges covering some
7,500 acres.

The port also received the Dan Maynard communications award for overall
excellence. Los Angeles received honors for a dozen projects, and this
is the third time the port received the award in five years.

Los Angeles and Long Beach jointly received an honorable mention in the
environmental management category for the Water Resources Action Plan, a
coordinated effort targeting remaining water and sediment sources in
San Pedro Bay.

Source: Journal of Commerce

Seychelles sets 11 Somali pirates sentenced to ten years in prison

maritime news — Thu, 29 Jul 2010 04:04:08 +0000

Eleven Somali pirates have been sentenced to a decade in prison in the Seychelles for attempting to hijack a coast guard boat last December. The statement from the office of the president say that eight accused were sentenced for committing an act of piracy and three others for aiding and abetting an act of piracy.

The Seychelles said the sentences marked the first time it has prosecuted and convicted pirates.

Another 29 suspected and accused Somali pirates are still pending trial in the Seychelles or awaiting transfer to Somalia.

In June, the United Nations built a new court for pirates in Kenya with
contributions from Australia, Canada, the European Union, Germany and
the United States.

Kenya has 123 prisoners in custody. Eighteen pirates have been tried and convicted.

Pirates based in neighboring Somalia have made the Gulf of Aden one of the world’s most dangerous shipping lanes.

Source: SeaTradeAsia-Online

OOCL Adds Bangladesh port surcharge

maritime news — Thu, 29 Jul 2010 03:13:48 +0000

Orient Overseas Container Line, adding to a growing list of surcharges to compensate for port congestion in the Indian sub-continent, said it will apply port congestion surcharges on shipments from Hong Kong, Macau and South China to Bangladesh.

The charges effective Aug. 1 follow Cosco Container Lines’ announcement that it will impose a congestion surcharge at India’s Jawaharlal Nehru port for goods going to Europe effective Aug. 15.

OOCL’s surcharge covers goods going into the Indian sub-continent from Hong Kong, Macau and South China.

The surcharges on shipments to Chittagongy are $150 per TEU, $300 per FEU and $300 per FEU high cube container.

The surcharges to Dhaka are $250 per TEU, $500 per FEU and $500 per FEU high cube.

The Journal of Commerce Online

Genco Shipping Trading Limited assumes the new Handysize

maritime news — Thu, 29 Jul 2010 02:19:11 +0000

Genco Shipping & Trading Limited (NYSE:GNK) today announced that it has taken delivery of the Genco Ocean, a 35,000 dwt Handysize newbuilding. The Genco Ocean is the first of five vessels to be delivered to the Company under Genco’s agreement previously announced on June 9, 2010 to acquire five Handysize vessels from companies within the Metrostar group of companies.

The Genco Ocean is expected to be delivered to its charterer, Cargill International S.A., on or about July 28, 2010 to commence a time charter for 35 to 37 months. The rate for the time charter will be linked to the Baltic Handysize Index (BHSI), incorporating a floor of $8,500 and a ceiling of $13,500 daily, with a 50% profit sharing arrangement to apply to any amount above the ceiling. The rate will be based on 115% of the average of the daily rates of the BHSI, as reflected in daily reports. Hire will be paid every 15 days in advance, net of a 5.00% third party brokerage commission.

The Company used its available cash to pay the remaining balance of $29.9 million for the Genco Ocean. On July 14, 2010, the Company entered into a commitment letter for a $100 million secured term loan facility and, upon the closing of this credit facility, intends to use the credit facility to refund $20 million associated with the purchase of this vessel to the Company.

Source: PR Newswire

Trash boat u0026quot: Ship of Recycled bottles includes travel on Pacific

maritime news — Thu, 29 Jul 2010 01:29:50 +0000

(abc) A 60-foot catamaran made out of plastic bottles completed a four-month journey across the Pacific Ocean today, an unusual adventure to raise awareness about the widespread problem of plastic pollution. Source

Diana Shipping Inc. acquires majority-owned subsidiary of the two previously announced ship container ships

maritime news — Thu, 29 Jul 2010 00:39:34 +0000

Diana Shipping Inc.
(NYSE:DSX), a global shipping company specializing in the transportation of
dry bulk cargoes, today announced that Diana Containerships Inc., its
majority-owned subsidiary formed for the purpose of investing in
containerships, took delivery of the two 3,400 TEU newbuilding
containerships built at TKMS Blohm + Voss Nordseewerke GmbH, Emden, Germany
from a third-party seller.

The first vessel (MV Sagitta) was delivered on June 29, 2010, and the second
(MV Centaurus) was delivered on July 9, 2010. MV Sagitta is currently
employed on charter with A.P. Moller-Maersk A/S for a period of minimum nine
(9) to maximum twelve (12) months at a gross daily rate of US$16,000. MV
Centaurus is currently employed on charter with Hapag Lloyd AG, Hamburg for
a gross daily rate of US$8,400 for minimum thirty
(30) to maximum sixty (60) days and thereafter will be chartered to CSAV,
Valparaiso for a period of about twenty four (24) months plus or minus forty
five (45) days at a gross daily rate of US$20,000.

These employments are anticipated to generate approximately US$18 million of
gross revenue for the minimum scheduled period of the charters.

As previously announced, Diana Shipping has made an investment of US$50
million in Diana Containerships Inc., representing approximately 55% of the
issued and outstanding shares of the new entity, with the balance of the
common shares held by institutional and accredited investors that acquired
the shares in a private transaction.

Source: Globe Newswire

Cruise ships boost Salem help economy

maritime news — Wed, 28 Jul 2010 23:49:22 +0000

(boston) Salem is emerging as a destination for small cruise ships making stops
in historic ports that dot the New England seacoast. And once the
Blaney Street wharf expansion is completed, officials expect to attract
the large cruise liners, which is projected to have a significant
impact on the local economy. Source

Bristol Harbor designs for New York Power Authority

maritime news — Wed, 28 Jul 2010 23:01:01 +0000

(marinelink) Bristol Harbor Group, Inc., (BHGI), has reached the final design phase
for an 80-ft x 34-ft x 5-ft Pedestal Crane Barge design for The New
York Power Authority, (NYPA). The Pedestal Crane Barge, also known as a
“Floating Crane,” is currently under construction at Great Lakes
Shipyard in Cleveland, OH, where BHGI is also providing construction
oversight services. BHGI began by conducting an initial on-site
investigation of the ice boom, and the existing Ice Boom Work Barge,
HAVASU – currently in use as a work platform for NYPA personnel during
install & removal of the Lake Erie Ice Boom. This investigation
included a detailed review of the HAVASU, current retrieval and removal
procedures, and deviations considered for the new barge. Source

Kerry $ lick Sailing

maritime news — Wed, 28 Jul 2010 22:14:27 +0000

(nypost) Swift move, Sen. Kerry! John Kerry, the tax-happy
Massachusetts Democrat, is docking his new, multimillion-dollar yacht
in Rhode Island — an eyebrow-raising decision that saved him an
estimated $437,500 in sales tax from his home state, it was reported
yesterday. Source

Coast Guard suspends search for missing boater

maritime news — Wed, 28 Jul 2010 21:24:12 +0000

(coastguardnews) The Coast Guard has suspended their search for Eoin Curran, the 30-year-old boater who went missing near Larchmont, N.Y. Source

Maritime News

CMA CGM acquires Fifth Megaship

CMA CGM said it took delivery of the CMA CGM Leo, the fifth in a series of 12 vessels that will be delivered between 2010 and 2011.

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