Evergreen announces new SE Asian service to Ho Chi Minh City
Taipei: Evergreen Marine, Taiwan’s top boxline, is linking with South Korea's Hanjin Shipping to launch a joint Southeast Asia service. The service to Ho Chi Minh City starts on November 22. Evergreen Marine will contribute one 2,500 teu vessel and Hanjin Shipping will contribute three to the service. The service will originate in Kwangyang, South Korea, and stop at Busan in South Korea, Shanghai and Shekou in China, Singapore, and Port Klang, Penang and Tanjung Pelepas in Malaysia. The route then turn back via Singapore and Ho Chi Minh City in Vietnam before returning to Kwangyang to complete the 28-day journey.
Evergreen Marine said it was upbeat about growth in Association of Southeast Asian Nations economies, citing a forecast by the International Monetary Fund, which said the ASEAN economy could grow 5% in 2013 and 5.4% in 2014. [18/11/13]
A&P Falmouth says dredging is necessary to prevent further falls in cruise ship bookings
CRUISE ship bookings at Falmouth harbour are falling sharply because newer, larger ships are not able to dock there, according to the port operator. Cruise bookings for 2014 are down by a third on 2012 and have led to renewed calls by A&P Falmouth for dredging the harbour. The £23 million dredging scheme is part of a wider masterplan for the port. A trial dredge was carried out in May, with the results being published next summer. The Marine Management Organisation, which has to give permission for the full dredge, has so far blocked it over concerns about its impact on the environment.
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The first phase of development works was launched in early 2013 and involved lengthening the Flamands quay by 320m to the south (including a 100m-long return quay) to provide a total length of 680m. This extension is intended to optimise the handling and frequent trans-shipment of heavy loads such as nacelles, masts or even foundations for offshore wind turbines. The extension of the quay will have a load-bearing capacity of 15 tonnes per square metre, i.e. two to three times that of conventional quays. This new berth will also make it possible to accommodate ships with a draught of up to 14m, enhancing the port’s capacity and its ability to cope with large vessels. The first phase of maritime works – consisting of dredging, excavation and the construction of the provisional dyke – has now been completed. Construction of the quay wall is starting in October 2013 and completion of the work is anticipated for the end of 2014. The second stage of this project is a €60 million extension of the harbour’s large-container yards, making new land available to enhance the attractiveness of the port of Cherbourg. With work due to start in 2014, the existing Flamands and Mielles ship yards will be extended by 96 acres to the North and East. The project is due for completion in 2016, at which point the port of Cherbourg will have almost 250 acres of land to dedicate to the MRE sector.
EmiratesLNG to build 9 mtpa LNG import terminal at Fujairah
EmiratesLNG will build and operate the Middle East's first land based liquefied natural gas (LNG) re-gasification facility at Fujairah following government approval for the project, the company said on Monday, Nov. 11. EmiratesLNG, a joint venture between International Petroleum Investment Company (IPIC) and Mubadala Petroleum, said it would push ahead with the project after Abu Dhabi Executive Council decided to approve the project. "EmiratesLNG will seize this opportunity to establish itself as a key player in the Middle East within the global LNG market," Ahmed Matar Al Mazrouei, CEO of EmiratesLNG said in a statement.
"With support and co-operation from our stakeholders, we look forward to serving our customers when we commence operation of the largest LNG re-gasification facility in the region." Source: Reuters
Egypt to finalize Suez Canal development tender by end of November 2013
Egypt will finalize a tender for the development of the Suez Canal by the end of the month, the investment minister said, to try to boost an economy struggling with political turmoil since 2011. "No country is taking the lead, it is an Egyptian project and we are going to finalize the first stage by finalizing this tender by the end of this month," Osama Saleh told a Euromoney conference in Cairo, adding the terms of reference will be tendered globally. Egypt's economy benefits from about $5 billion a year in tolls for using the vital 192-km (120 mile) waterway, the quickest sea route between Asia and Europe. Saleh did not put a price tag on the project.
New line between Morocco & Saudi Arabia to be launched in 2014
Doha: The Chairman of the Saudi-Moroccan Business Council, Mohammed Al Hammadi, said that a new maritime transport company between Saudi Arabia and Morocco is set to launch. "We are now in the process of issuing licenses, as we are working on processing the licenses and finishing all procedures, from governmental licenses and other requirements," Hammadi said. He added that the name of the company was chosen to be Al-Mamlakatain "The Two Kingdoms" for Maritime Transport. The company is with a capital of 415 million riyals, in which the Saudi side invests 51%, while the Moroccan takes 49%. Its headquarters is in Jeddah. The company will start working in the second quarter of 2014, with 12 trips per year. A fleet of six ships will be the eventual goal.The Moroccan Minister of Equipment & Transport, Abdelaziz Rabbah, said that the Kingdom of Saudi Arabia is an economic power that can't be overlooked. "We, in Morocco, welcome the new Saudi investments, especially since there is a tendency to change the regulation to reduce bureaucratic processing" said Rabbah. [12/11/13]
Korean company Hyundai Corporation announced that it has decided to provide a debt guarantee for its Chinese shipbuilding facility, Qingdao Hyundai Shipbuilding.
The creditor is Standard Chartered Bank Korea and the debt amount is $25.77m. The debt guarantee covers from November 12 to December 31. [13/11/13]
Cosco to extend investment at Greek port of Piraeus
Cosco subsidiary Piraeus Container Terminal (PCT) has inked an agreement with Piraeus Port Organization for an additional investment of EUR230m at Greece’s largest port, Piraeus.
The total Cosco investment in the port will reach EUR500m and Piraeus will have the capacity to handle up to 6.2m teu per year in the coming years. "The agreement seals the transition of the port of Piraeus into a new era, as this is the largest investment in crisis-stricken Greece,” Greek Shipping Minister Miltiades Varvitsiotis said on Tuesday. [Sino Ship News 13/11/13]
Navigation in St. Petersburg region closed for small-size vessels from November 11, 2013
Navigation in St. Petersburg region is closed for small-size vessels from November 11, 2013. According to the press center of the regional administration, the order was signed by St. Petersburg region Governor Aleksandr Drozdenko on November 11, 2013. The navigation was closed in view of decreasing average daily temperature, deterioration of wind and wave conditions and expected beginning of freeze up at water bodies.
New ship-breaking subsidy rules expected this year
China is expected to unveil new subsidy rules involving the demolition of ships this year, according to China Securities Journal, China Daily USA reports.
The draft is currently in the approval process from related ministries, including the Ministry of Finance and Ministry of Communications.
Some rules will be loosened for companies applying for the demolition of ships, a direct response to the nation's previous plan, which was deemed too strict on companies wishing to demolish ships.
Old rules, such as allowing companies to apply for a government subsidy in the purchase of new ships after the company demolishes its older ones, will remain.
The new plan is expected to dole out 4.56 billion yuan in subsidies for ship breaking, according to an expert familiar with the plan. usa.chinadaily.co...