MacAndrews and OPDR start new short sea service Rotterdam-Spain-Portugal
Short Sea operators MacAndrews and OPDR have commenced a joint new weekly service between North West Europe and the Iberian Peninsula.This regular service, known as Portugal & South Spain Service (POSS), will dock in the ports of Tilbury, Dunkirk, Rotterdam, Leixoes, Setubal, Lisbon, Algeciras and Cartagena. Three 700 TEU container vessels will be deployed on the service.
Laugfs invest $80m for South Asia’s largest import/export LPG terminal
Laugfs Terminals Ltd., a subsidiary of Sri Lankan energy conglomerate Laugfs Gas PLC yesterday signed agreements with China Huanqiu Contracting and Construction Corporation (HQC) to construct South Asia’s largest import and export liquefied petroleum gas (LPG) terminal at Hambantota with an investment of over $80 million, Sri Lanka Ports Authority said in its press release. The firm intends to invest $58.1 million in the first phase of the construction with a capacity of 30,000 MT within the next two years. In the second phase, Laugfs Terminals expects to increase its capacity up to 45,000 MTs, which can accommodate very large gas carriers. 60% of LPG will be re-exported to regional markets, while 30% will be released for the local market (Sri Lanka). It will also have the capability to handle local distribution of LPG through LPG road tanker trucks and will further have an onsite LPG bottling facility.
Kenya To Build Cruise Ship Terminal At Its Biggest Port
East Africa’s biggest port of Mombasa will spend 100 million shillings ($980,392.16) to build a new cruise ship terminal aimed at boosting tourism, port management said on Wednesday.
Piracy in the Gulf of Aden and the Indian Ocean struck a major dent into cruise tourism in the region, but the industry has rebounded since 2011, with enhanced naval patrols and deployment of armed guards on vessels.
“Before we used to receive 40 cruise vessels per year with 40,000 tourists,” ports spokesman Hajj Masemo told Reuters, adding the number had dropped to near zero due to piracy. www.marineinsight...
Rhine water levels set to rise later this week, easing logistics
Water levels on the Rhine are likely to rise to above one meter in some places later this week, temporarily easing navigation and enabling oil product importers in Germany and Switzerland to restock, traders said Wednesday.
Rhine levels have been low since July, hampering the normal circulation of barges laden with oil products on the river and forcing operators to load less volume than usual by as much as several thousand mt.
“We’re expecting big improvements on the Rhine. There’s a lot of rainfall expected this week and over the weekend,” one trader said. “We should see Rhine levels back up to around one meter in some parts, which means you can start loading around 1,200 mt on a barge again.”
Water levels at Kaub — a key transit hub along the middle Rhine — will reach one meter by 7:00 local time on Saturday, up from just 57 centimeters Wednesday morning, according to data from German Federal Waterways.
Vessel fixing has remained subdued along the Rhine this week.
“Charterers are holding back on fixing barges during the early stages of this week as they are hoping that the increased water levels will lead to lower freight rates or — at the very least — that they can load more cargo on the vessel for the same lumpsum rate,” a shipping source said.
“We should see barge freight rates come off a bit [if rain materializes], but because Germany is so dry, you will see an influx so barge freight will remain supported temporarily,” a third source said.
But a longer-term rise in river levels will only come with more rain and that remains uncertain at this stage, sources added.
“I think this might just be a little wave that will flush down the Rhine, but not an increase in the long run. We might be back at the same water levels by the end of next week,” one barge operator said.
Earlier this week and late last week, traders speculated that low Rhine water levels may constrain navigation on the river with the advent of winter when rain turns to snow in the Alps, reducing the water flow.
Some said navigation could remain constrained until next spring.
The Rhine river begins in the southeastern Swiss Alps and eventually empties in the North Sea, in the Netherlands.
APM Terminals has changed tack in its attempt to persuade the Brazilian government to grant it a concession extension at its Port of Itajaí container terminal.
Previously, it had sought an extension based on the investment that it had made there. However, following a suggestion from the Attorney General’s Office, it is now seeking to justify this as a means of recovering losses brought about by unexpected problems that it has encountered, mainly floods in 2008 and 2011.
APM Terminals acquired concessionaire Teconvi when it had 19 years to run on its concession, with the possibility to renew this for a further three years to the end of 2022. However, the company believes it will be impossible to sufficiently recoup its subsequent investment in the seven years remaining to it. www.hellenicshipp...
A terminal is to be constructed at the Tema Harbour to facilitate the import and export of agricultural products. The project, to be funded by Super Maritime, a private local company, will be undertaken in partnership with the Ghana Ports and Harbours Authority (GPHA).
Work on the project, to be executed at a cost of $10 million, is expected to begin in January 2016 and completed within eight months.
Crowley Breaks Ground On $48.5 Million Pier And Terminal Construction Project
Crowley Puerto Rico Services, Inc. announced that it has broken ground on a $48.5-million construction project for a new pier at its Isla Grande Terminal in San Juan, Puerto Rico. The project includes the development of a new 900-foot-long, 114-foot-wide concrete pier and all associated dredging needed to accommodate Crowley’s two new liquefied natural gas (LNG)-powered, Commitment Class ships.
Recent meltdown in steel scrap prices, coupled with decline in rupee value against the dollar, seems to have taken the wind out of the sails of ship-breakers in the country.
The 12-month period saw domestic steel demand muted, resulting in a 23 per cent decline in average realisation on scrap steel (a key raw material in secondary steel making) from ₹26,504 per tonne in October 2014 to ₹20,398 in September 2015, said credit rating agency Crisil in a note on Monday.
“The price of scrap steel, which was declining between 2 and 4 per cent on a monthly basis, plunged nearly 20 per cent after China moved to de facto devalue the yuan in August 2015,” the Crisil note said.
The industry operates on a short cash cycle. A small ship is dismantled in six months. However, scrap is sold every month. Given the sharp decline in the price of scrap steel since August, the industry, despite its operating discipline, is estimated to have taken a knock of ₹120 crore.
Around 9 per cent depreciation in rupee in the 12 months to September 30 – touching ₹66 a dollar from ₹61 a dollar seen in October 2014, has added to the woes. Today it is ruling ₹66.02 a dollar. The industry in the last past three fiscals incurred about ₹1,200-crore loss in foreign exchange.
As a practice, ship-breakers buy condemned vessels based on letter of credit in foreign currency, which typically has a maturity period of six months. Indian ship-breakers, however, do not hedge foreign currency exposure, as the hedging cost is perceived to have additional depressing impact on their thin operating margin of 4-5 per cent.
Source: The Hindu Business Line
Port of Hamburg reports downturn in seaborne cargo throughput in first nine months
Even Hamburg as Germany’s largest universal port clearly felt the effects of weakness in Chinese foreign trade plus the steep downturn in trade with Russia during the first nine months of the year. Totalling 104.6 million tons, seaborne cargo throughput in Hamburg was 4.8 percent lower than last year. Even if bulk cargo handling in the first three quarters totalled 34.3 million tons and was therefore once again substantially higher, being up 8.7 percent, this could not fully offset the decline in general cargo throughput. Container throughput in the first nine months totalled 6.7 million TEU (20-ft standard containers), down by 9.2 percent. It proved impossible to maintain the previous year’s strong growth.
The downward trend in container traffic with Russia appears to have ceased and stability to be setting in. In the first nine months, at 323,000 TEU handling of boxes for Hamburg’s third most important partner for container traffic was down by 36 percent. Along with a weak rouble, the low oil price and the generally continuing economic recession in Russia were the main causes of the fall apparent in container throughput. “The downturn of container traffic with Russia of the order of more than one-third hit us especially hard because the bulk of all containers were transhipment containers that were loaded on to, or discharged from oceangoing containerships. This second step in handling per box and per direction of transport from feedership on to the oceangoing containership or the reverse is now only occurring to a much lesser extent, a fact also reflected in the overall statistics for containers handled in Hamburg. A recovery can hardly be expected in the near future. We assume that container throughput with Russia is now stabilizing and that perhaps the first signs of an upward trend will be apparent next year,” said Axel Mattern, Executive Board Member of Port of Hamburg Marketing (HHM). “These very severe fluctuations in trade with Russia are still very familiar to us as a result of the worldwide economic and financial crisis. We shall also survive this drop. The good contacts of our port representative office in St. Petersburg and our dedicated port marketing in Russia form a splendid basis for the desirable upswing in foreign trade,” added Ingo Egloff of Port of Hamburg Marketing’s Executive Board. More at www.hellenicshipp...
At the seminar, “Haiphong Mega Infrastructure Cluster-Gateway of the North of Vietnam”, held last week by the Haiphong People’s Committee and Dinh Vu Industrial Zone JSC, Le Thanh Son, Deputy Chairman of the committee, said that the combination of the mega infrastructure projects about to be constructed in the city, and the local government’s determination to improve the investment environment would turn Haiphong into an ideal location for local as well as international investors.
“The city is aiming to optimise its potential, advantages, and opportunities to make a breakthrough and become a hub of industry and services with superior competitiveness, turning it into a green, civilised, and modern port city. Foreign investment attraction plays a very important role in the achievement of this target,” said Son.
Mega infrastructure projects being carried out in the city include the Haiphong international gateway port, the Cat Bi international airport, the Tan Vu-Lach Huyen bridge, and the Hanoi-Haiphong expressway. The combined investment capital required for these projects is $4.1 billion.
The Tan Vu-Lach Huyen road and the sea-crossing bridge which connects Haiphong with the Lach Huyen port is already 40 per cent completed, and is expected to be operational by May 2017. As of September, the 105-kilometre Hanoi-Haiphong expressway was 70 kilometres towards its final destination, and the remainder is due to be finished by December this year.
Meanwhile, the Cat Bi international airport, if completed – as scheduled – in the third quarter of 2016, will be able to serve six million passengers per year. Direct passenger flights from Haiphong to Singapore, Thailand, Japan, and South Korea are planned in the first phase.
Adjacent to the deepest port in the north of Vietnam, accessible for 100,000 dead weight tonnage vessels, an airport with international and domestic flights, and only one hour from Hanoi by car, Haiphong is set to become a transportation hub, according to Son. www.hellenicshipp...