Organisations Across Europe Ask EU to Invest More in Transport
With the slogan “More EU budget for transport, the best investment plan for Europe” a coalition of thirty European transport organisations are launching today their campaign for a strong connecting Europe Facility for the next financial period 2021-2028. “We are very pleased to see that 30 transport organisations, covering all modes and nodes, service providers, users and cargo owners are supporting this plea for a strong financial support for the completion of the TEN-T network," says ESPO’s Secretary General Isabelle Ryckbost. "750 billion euro is needed to complete the TEN-T core network.
Maersk to Raise Freight Rates from Asia to Europe
The world's biggest container shipping company Maersk Line, a unit of A.P. Moller-Maersk , said it plans to raise freight rates on routes from Asia to northern Europe by $400 per 20-foot container (TEU). The new rates will take effect from Sep. 1, the company said in a newsletter to shippers on Tuesday. Higher rates on the busiest freight routes between Asia and northern Europe would help companies, which have been struggling with overcapacity as a result of a weak global economy. Only a handful of container shipping companies posted profits last year.
NSSLGlobal Adds New Satellite Beams
The additional beams will improve NSSLGlobal’s coverage of Europe and the Far East. NSSLGlobal, an independent service provider of satellite communications, has added two new satellite beams to improve the quality and geographical reach of its global VSAT network. The additional beams will provide customers in the Nordics, Europe, North Africa, the Middle East and Far East with better coverage at sea and on land. The Telenor Thor 6 Nordic beam, positioned 1° West, is a new addition…
CMA CGM Confirms CSSC Yards for Mega-Ships
CMA CGM, the world's third- largest container line, and CSSC Group have officially signed the contract for the construction of nine 22,000 TEU ships, the largest container vessels ordered to date. Representatives from CMA CGM, Hudong-Zhonghua Shipbuilding (Group), Shanghai Waigaoqiao Shipbuilding and CSTC signed the contracts in Marseille on September 19. The order from the French-based container shipping firm underlines a recovery in the industry this year following a prolonged downturn.
Capacity Culls Insufficient to Reverse Rate Slump: Alphaliner
The idle containership fleet has reached its highest level in five years, with over 1 Mteu of vessel capacity currently unemployed. Carriers are removing capacity on most main tradelanes in response to weak market demand, with the Asia to Europe route witnessing some of the most drastic cuts. Of the 21 strings operated by the four main carrier alliances in the Far East to North Europe trade, two have been withdrawn by the ‘Ocean 3’ and 2M partnerships. The G6 and CKYHE meanwhile…
MV WERFTEN Delivers River Cruise Ship for Crystal
Just a few weeks after delivery of the Crystal Bach, shipbuilder MV WERFTEN has handed over the Crystal Mahler, the second of four Rhine Class ships for client Crystal River Cruises. After the ceremonial change of flags, the ship was christened at the outfitting quay of MV WERFTEN in Wismar. Like its sister vessel, the 135-metre long and 11.4-metre wide river cruise ship was specifically designed for exploring Europe’s rivers. It complies with the highest safety and navigation standards…
LGH Acquires JDN’s UK Hire Division
Lifting Gear Hire (LGH) has acquired the Aberdeen-based hire division of JD Neuhaus (JDN) Ltd., a manufacturer of hoists and crane systems for extreme environments. JDN, headquartered in Germany, will retain its other U.K. divisions, including sales and repair, and will remain an LGH supplier. The value of the transaction was not disclosed. The acquisition, which comes less than a year after LGH re-launched in the U.K. after a 10-year sabbatical, further enhances the company’s fleet of JDN products, principally air operated hoists.
McClier-Frederic R. Harris To Create Major Hub On Suez Canal
The McClier-Frederic R. Harris architecture, engineering, construction and consulting team has been selected to create a trade port and industrial city at Port Said East, located at the Mediterranean tip of the Suez Canal. The project, which is valued at more than $1 billion, will facilitate the global movement of products between Asia and Europe, as well as contribute to the long-term economic prosperity of Egypt by improving the country's ability to manufacture and export goods to countries throughout the Mediterranean, Europe and the United States. As a multi-modal hub, Port Said East will integrate air, rail, water, and road transportation to create a logistical center that will benefit global manufacturing companies, international transportation companies and the region.
Vulkan Italia, SB Broneske Start New Cooperation
Vulkan Italia has signed a cooperation with the German company SB Broneske. Vulkan Italia is going to work as a representative for SB Broneske in the Italian market, where the two companies will join their experience on the elastic support for exhaust pipe system. Elastic support for the exhaust pipe system includes vibration mounts, expansion bellows, pipe penetrations and rain caps for the exhaust pipe system of ships. Vulkan Italia, founded in 1987 and located in Novi Ligure, is the market leader in elastic support in the ship building industry in Italy. Vulkan Italia provides a superior service and deep knowledge of applications to the Italian customers. SB Broneske, founded in 1972, is inventor, designer and producer of elastic support for the exhaust pipe systems.
Toyota Backs Japanese $1.8 Bln LNG Vessel Order
Japanese car manufacturer Toyota Motor Corporation is turning to LNG-powered ships to transport its cars across the globe, according to a report from Japanese daily Nikkei. The company has backed an investment in up to 20 LNG-powered car carriers with the capacity to carry 7,000 vehicles each, as it is preparing for the environmental regulations that will go into force in 2020. Nippon Yusen Kaisha (NYK), Kawasaki Kisen Kaisha (K Line) and Toyota’s Toyofuji Shipping are expected to be in the running for the contract, which is estimated to be approximately $1.83 billion.
Europe Gasoline Exports Set to Surge on Harvey Outages
Gasoline exports from Europe across the Atlantic are set to surge in coming days as traders plug supply gaps after Tropical Storm Harvey crippled refineries in the U.S. Gulf Coast. Many of the shipments are expected to end up in Latin America, which has become increasingly reliant on gasoline and diesel supplies from the U.S. Gulf Coast in recent years amid fast-growing demand in emerging economies such as Mexico and Brazil, traders said. Nearly a quarter of U.S. fuel output was knocked out since Harvey made landfall on Friday in Texas, where several large refiners are located.
Unwanted Diesel, Jet Ships Could Sink Oil Prices
Backlog of vessels at port threaten loading delays; ships with half a million tonnes taking the long route to Europe. Unwanted diesel and jet fuel cargoes are backing up outside Europe's ports and taking longer, slower routes around the southern tip of Africa, traders say. A symptom of the world's excess of oil, it also paints a gloomy picture of the chance of an oil price rebound. The abundance of crude that roiled commodity markets and turned the balance sheets of oil majors on their head also encouraged under-pressure European oil refineries to run at full clip. Refineries from Rotterdam to India to Louisiana, drunk on cheap crude, ran regardless of whether the world wanted what they were making. Meteoric demand growth earlier this year for products such as gasoline masked the surplus.
Traders Scramble to Avert Regional Fuel Shortages
Mexico buys gasoline from Europe, Asia; in rare move, Europe exports diesel to Brazil. The crippling of the U.S. Gulf Coast refining hub by Tropical Storm Harvey roiled global oil markets on Thursday as traders scrambled to buy gasoline and diesel from distant markets to avert supply shortages in the United States, Mexico and Brazil. A slew of gasoline tankers has been booked over the past two days out of Europe to the United States and Latin America, with around 12.5 million barrels expected to leave the region in the first half of the month…
Harvey Produces Rare Jet Fuel Exports to U.S.
Traders are shipping jet fuel from Europe to the United States, where Tropical Storm Harvey has sparked concern over possible shortages of the aviation fuel. French oil major Total has booked the Maersk Misumi and Butterfly to load 37,000 tonnes each of jet fuel in Europe in the coming two weeks for transatlantic transportation, shipping reports showed. Total also has a provisional booking of the Seaways Alcmar to load 37,000 tonnes of jet fuel in Malta on Sept. 4, with delivery options to the U.S. Gulf or U.S. Atlantic Coast.
Konecranes Pact with MPET in Antwerp
Konecranes signed a major service agreement in which its Antwerp-based service organization will perform all of the maintenance and repair work on more than 150 Konecranes Noell Straddle Carriers of different generations for MSC PSA European Terminal (MPET), the single largest container terminal in Europe. The purpose of this service agreement is to achieve consistently high availability of the entire machine fleet. MPET, which handles the majority of containers in the Port of Antwerp, saw steady growth in 2016.
APL Strengthens Asia-Europe Service Network
APL today announced the launch of a new weekly service - the India Pakistan Europe (IPE) Service, directly connecting the key South Asian markets of India and Pakistan to major ports in Europe. The new IPE service builds on APL’s strong market presence and local expertise in India and Pakistan to enhance its Asia-Europe service offerings. “Europe is a premier trading partner and a major export market of South Asian countries. It is opportune that we expand our service coverage in Asia-Europe through the new IPE service, directly linking the major economies of India and Pakistan to Europe.
STX Group’s Plan to Sell 20% Stake in STX OSV
In response to the various media articles relating to the STX Group’s plan to sell a 20 percent stake in STX OSV Holdings Limited ("STX OSV"), the Board of STX OSV understands after clarification with STX Europe Holding AS (“STX Europe”), that STX Europe is continually exploring opportunities in relation to any strategic option of its interests in its subsidiaries including, STX OSV. The Board of STX OSV further notes that STX Europe is subject to and understands that STX Europe will comply with a lock-up period for its interest in STX OSV which ends 12 months from 12 November 2010…
European Shipowners Back EU, Canada Trade Agreement
European shipowners have welcomed provisional application of the Comprehensive Economic Trade agreement between the EU and Canada (CETA). The CETA agreement will boost trade considerably between the EU and Canada. It will cut customs duties and open new markets for shipping companies such as dredging, movement of empty containers and certain transportation between Canadian ports. "It is important for the EU to sign ambitious trade agreements such as CETA, especially in the current political climate where global and open trade is put under pressure…
Investment Plans for Europe Transport
To complete the Trans European (TEN-T) Network, 750 billion euros is still needed. 30 European transport associations, representing infrastructure managers, operators, local authorities, users and equipment suppliers in the maritime, inland waterways, railways, road, cycling, aviation and intermodal sectors, call for strong financial support for the completion of the network. European citizens and customers require safer, ever more secure, reliable, efficient, green, multimodal and smart mobility but also better connectivity between nodes and modes of transport.
Global Logistics Index Hots Lowest in Four Years
The index that tracks shipper and freight forwarder confidence in the activity of the U.S.-Europe and Asia-Europe shipping lanes hit its lowest level in December in the index's nearly four-year history, reports Reuters. It has hit by lower margins for European freight forwarders such as Denmark's DSV because of overcapacity in shipping. The "Stifel Logistics Confidence Index," published by U.S. investment firm Stifel Financial Corp. and U.K.-based consultancy Transport Intelligence…
Outlook Bright for Freight Forwarders
The Stifel Logistics Confidence Index for May indicated some improvements from April’s decline. In particular, the six-month outlook appears bright as airfreight gained 2.8 points to 63.4 and sea freight increased 2.1 points to 62.9. Overall, the total index increased 1.1 points to 57.4. Even though this is down 0.6 points from one year ago, it is still 6.7 points higher than May 2013. Airfreight continues to lead the optimism for both the six-month outlook as well as for the present. Sea freight however, remains troublesome for the present and while some ports have settled labor issues, other issues such as the rise of the mega-vessel and larger shipping alliances are straining port operations.
STX Europe Sells Shares in STX OSV Holdings Ltd.
STX Europe Holding AS, a wholly owned subsidiary of STX Europe AS (STX Europe), has agreed to sell part of its equity interests in STX OSV Holdings Limited (STX OSV) to investment funds affiliated with OZ Management LP (Och-Ziff). The placement of 215,590,000 ordinary shares by STX Europe will be at a price of S$1.33 per share. This amounts to approximately 18.27% of the total issued share capital of STX OSV. Following the sale, STX Europe will hold 598,851,000 shares in STX OSV equal to a majority shareholding of 50.75%. STX Europe underscored that the placement was made with the objective of improving the trading liquidity of STX OSV. As a result of placement, Och-Ziff's shareholding in STX OSV will increase to 20.0%.
Dittmann Named Chairman of SEA Europe
Kjeld Dittmann, the Managing Director of Lyngsø Marine A/S, is the new Chairman of the European Ships and Maritime Equipment Association (SEA Europe). He succeeds Govert Hamers, CEO of Vanderlande Industries in the Netherlands, who has completed his term as Chairman. The announcement was made at the SEA Europe Annual General Meeting in Istanbul on June 26 hosted by the Turkish Association of Ship Industrialists (full member of SEA Europe). “SEA Europe has established a strong voice in Brussels for both Europe’s shipyards and equipment suppliers…