Finance - News

CULINES, Midea International Logistics, and Guangzhou Port Group signed a Memorandum of Understanding on strategic partnership at the headquarters of Midea in Shunde District, Foshan. This MOU will link together these three local companies on industry and supply chains and their resources will complement each other to achieve common development and win-win results. Convenient, and cost-effective global supply chain  The three parties will also enhance cooperation to promote the digi...

Håkan Agnevall, the Chief Executive Officer (CEO) at Wärtsilä (Wärtsilä Corporation), wants to position the marine and energy giant, as the natural partner for an industry and society, looking to translate climate ambition to reality. His vision is clear and he argues ahead of Nor-Shipping 2022, real change is already tantalisingly close at hand. It’s rare for someone to speak with such certainty in uncertain times. Clear path for Wärtsilä But, H&arin...

Matson announced that it will contribute NZD $375,000 in goods and services toward Tonga disaster relief and has scheduled a special voyage departing Auckland, New Zealand this week with relief goods donated by the company and destined for Tonga. Two additional extra-schedule relief voyages are planned for departure from Auckland during the next three weeks. On Friday, January 21, Matson delivered the first ocean shipment of goods to Tonga since the eruption of the Hunga-Tonga-Hunga-H...

With the continued expansion of Stena Line’s operations in the Baltic Sea, on 19 January, 2022, the new ferry - Stena Baltica has made its maiden voyage on the Ventspils‒Nynäshamn route. Henceforth, it will share this route with Stena Scandica, replacing Stena Flavia, which will join Stena Livia on the Liepāja–Travemünde route. Stena Baltica Stena Baltica is identical to the Stena Scandica, which has operated between Ventspils and Nynäshamn since the summer of 2021....

Andrey Severilov, the Chairman of the Board of Directors at FESCO Transportation Group (FESCO) participated in the panel discussion on possibilities of the Northern Sea Route (NSR), which took place within the framework of the Rosatom week at Expo 2020 Dubai, taking place at the Dubai Exhibition Centre, in Dubai, United Arab Emirates (UAE). Panel discussion on the Northern Sea Route In his speech, Andrey Severilov noted the prospects of the Northern Sea Route In his speech, Andrey Severilov n...

Unifeeder’s St. Petersburg Branch employee Svetlana Maydanova participated in the DP World for women initiative #MentorHer, a programme designed to facilitate knowledge transfer with mentors, in order to support, inspire, and motivate women in the workplace, and help build networks that open opportunities. Svetlana Maydanova has been with Unifeeder since 2009 and is based in St. Petersburg. Besides many years of experience in Finance and Administration, she holds a Ph.D. from St. Petersbu...

ZIM Integrated Shipping Services (ZIM) has announced the signing of a new eight-year charter agreement with a shipping company that is affiliated with Kenon Holdings Ltd. According to the agreement, ZIM Integrated Shipping Services will charter three 7,000 TEU liquefied natural gas (LNG) dual-fuel container vessels, in order to serve across ZIM’s various global-niche trades for total consideration of approximately US$ 400 million. Charter agreement to construct vessels The vessels will...

Lamor Corporation announced that the company has increased its efforts to serve customers in Norway, by establishing a Norwegian office, in January 2022. The local Lamor office is located in Straume, Bergen area, located in the west coast of Norway. Lamor Oil Spill Response solutions Lamor Corporation has had for many years a good dialogue and recurring projects with the Norwegian coast guard, Kystverket (Norwegian Coastal Administration), regarding Lamor Oil Spill Response solutions, and many...

The government of Benin has awarded a contract to Norwegian technology company, Vissim to deliver a coastal monitoring system designed for improved environmental monitoring and safer passage along Benin’s coastline and ocean area. The ultimate objective is to increase international trade with Benin. The contract is funded by Export Finance Norway. Vissim secures contract from Benin government The contract was signed at a ceremony in Cotonou, Benin, by Minister of Defence, Fortunet Alain...

Maritime UK partnered with EngineeringUK, as part of The Tomorrow's Engineers Code, to address the maritime sector’s future workforce skills and shared commitment to increase the number and diversity of young people entering engineering careers. Part of this partnership included Maritime UK, BAE Systems and EngineeringUK taking part in an online conversation, where they talked about the challenges facing the maritime sector and how this is going to impact future workforce skills. The Tom...

Shipping over 30% of Kenyan imports and 50% of the country’s export volumes, A.P. Moller – Maersk (Maersk) plays a key role in partnering with Kenyan businesses, in order to help them grow and expand to other markets. Expands landside offering in Kenya With over 300 employees in both commercial and operational functions, Maersk is also strengthening its organisation in Kenya to expand its landside offering, in order to further address customer needs and pain points, in line with it...

Almost two years on from the start of the COVID-19 pandemic, the world is still operating in testing times. Volatility and uncertainty continue to be seen across global networks, and the importance of the supply chain to the success of organisations has also increased, making operational resilience a vital need of the hour. In October 2020, A.P. Moller – Maersk (Maersk) had conducted a successful webinar that focused on the key steps for building supply chain resilience in the chemical in...

In the afternoon of January 14th, 2022, CULINES signed a partnership agreement with KUKA HOME at its Shanghai Operational Centre. Mr. Berton CHEN (Assistant President at KUKA HOME), Ms. Even BAO (Chairperson at TJI Freight Services), Mr. Kevin DING (Executive Vice President at CULINES), Mr. Hawk HUANG (Vice President/COO at CULINES), and other relevant colleagues attended the ceremony. Direct business communication Based on the pure values of ‘Doing Good Things, Making Good Friends.&rsq...

Notice is hereby served that an extraordinary general meeting of MPC Container Ships ASA (the ‘Company’) will be held on January 28, 2022, at 12:00 hours CET, at the Company’s offices at Munkedamsveien 45 A, N-0250 Oslo, Norway. The notice is attached hereto. Due to the COVID-19 outbreak, shareholders are encouraged to abstain from appearing in person, at the general meeting, but rather participate by means of advance votes or by granting a proxy. Shareholders not enrolled by...

To make sure the customers’ sustainability objectives are met, when transporting their products across the globe, A.P. Moller – Maersk has announced a more ambitious climate neutral target. The goal is to reach net zero greenhouse gas emissions, across the entire business, by 2040, one decade ahead of the initial 2050 ambition. Maersk's Net zero carbon targets Mads Stensen, the Senior Sustainability Advisor at Maersk, said “More than half of Maersk’s top 200 customers...

A.P. Moller - Maersk (Maersk) announces new aspiring emissions targets, expected to align the company with the Net Zero criteria of the Science Based Targets initiative (SBTi) pathway to limit global warming to 1.5°C. They include a societal commitment to act now and drive material impact in this decade, and a commitment to deliver net zero supply chains to customers by 2040. The targets go beyond previous efforts to reduce emissions related to the ocean fleet, as they cover all direct and...

Participants from across the maritime value chain participated in the DNV Conference – The Fuel of the Future. Aimed at advancing the idea that collaboration is the key to success in decarbonising the maritime world, the event attracted more than 6500 registrants and brought together a comprehensive line-up of shipowners, energy majors, financers, and regulators who offered their unique insights on how shipping can be chart the optimal route ahead. Decarbonisation Decarbonisation is t...

Mediterranean Shipping Company’s (MSC) Chief Executive Officer (CEO), Soren Toft has highlighted the importance of working together, in order to achieve net decarbonisation goals, in a keynote digital speech delivered at DNV’s ‘Fuel of the Future Conference’, on January, 11, 2022, as part of the annual Nor-Shipping convention. In his speech, Soren Toft explained MSC’s views on the status of decarbonisation in the container shipping sector, summarised how the compan...

Fincantieri Bay Shipbuilding started construction on the largest LNG (liquefied natural gas) bunkering barge ever built in the United States. Bay Shipbuilding is expected to complete construction on the barge in late 2023 under contract with Crowley, the largest independent operator of tank vessels in the U.S. Crowley will operate the vessel under a long-term charter with Shell NA LNG, LLC (“Shell”). The 416-ft. vessel, which will have the capacity for 12,000 m3 (3.17 million ga...

Blue Water’s Energy and Projects Division has experienced positive and sustainable growth in recent years, both in terms of activity level and expansion of locations. To further strengthen its global position, Blue Water is opening two additional offices in the Middle East: Iraq and Saudi Arabia. This is to underline and strengthen the objective of servicing customers across the business with a regional and local presence. “We want to expand our global presence to serve current an...

Unifeeder begins the new year with some exciting news. From 14th January 2022, Unifeeder Shortsea will be launching a new service linking Rotterdam to/from the ports of Dublin, Cork, and Belfast - with connections into the entire network of Unifeeder in Europe.  Quick booking process This new service in the Irish Sea offers an enhanced carrying capacity, as well as all-new routes between Rotterdam and key ports in Ireland, giving Unifeeder customers the benefit of connecting markets bet...

Tufail Chemical Industries and Maersk Pakistan signed a partnership earlier this week wherein Maersk would provide ‘Maersk Flow’, a digital tool, to Tufail Chemical to streamline and manage their supply chains efficiently. The partnership marks a significant step towards modernising logistics and improving supply chain performance with less time and effort. Tufail Chemical Industries conducts business with tech and appliance industries and has been importing plastic raw material, in...

EasyShipping, a well-known international logistics service platform in China is joining forces with TradeLens – the global blockchain digital platform, to provide innovative ocean freight financing solutions for Chinese foreign trade and logistics companies. Cross-border trading is a pillar of the global economy and supply chains are a key component to enable cross-border trading. As the current global supply chain suffers from imbalance, tight resource allocation and low efficiency, most...

Nestled in the North Pacific Ocean and the largest of the Micronesian islands is Guam, an unincorporated territory of the United States of America (USA). There are two main drivers of trade in this island nation in the Pacific Ocean, the US military presence and tourism. The current population of Guam stands at about 170,000 people, with this number expected to increase slightly by 2024, as 5,000 US Marine personnel and their families will be relocated to Guam from Okinawa, Japan. Guam, a ke...

The next stage of Wightlink’s £1.5 million investment in the FastCat foot passenger route terminal, between Portsmouth Harbour and Ryde Pier Head, in the United Kingdom, starts on Wednesday, January 5, 2022. The timetable will stay the same, but there will be changes to the way customers can board the catamarans, in Portsmouth, United Kingdom, for the next three months, because of major structural repairs and maintenance at the terminal. FastCat terminal repair work Customers will...

Rolls-Royce is focusing on methanol as a fuel for climate-friendly shipping: Rolls-Royce business unit Power Systems is currently working on mtu engines for use with methanol. New four-stroke engines The new high-speed four-stroke engines, which are based on proven mtu technologies, are planned to be available to customers as soon as possible for use in commercial ships and yachts. Denise Kurtulus, the Vice President - Global Marine at Rolls-Royce Power Systems AG, said “With the new de...

Rolls-Royce has agreed to work with IHI Corporation, to develop and deliver a future fighter engine demonstrator. Rolls-Royce – IHI Corporation The engine demonstrator programme will be a critical step forward, in enabling the two nations – United Kingdom and Japan, to develop their future fighter aircraft requirements, potentially securing hundreds of future jobs in the UK and Japan. Work on the joint engine demonstrator will kick-start in early 2022, with the United Kingdom (UK)...

Market sentiments continue to remain strong across major economies in West and Central Asia, driven primarily by strong demand for consumer products. Despite growing concerns over the spread of the Omicron variant of the COVID-19 virus, the region has seen varied reactions across the logistics sector, over the last month. A truckers’ strike created supply chain disruptions in Bangladesh, while in India, a dip in fuel prices brought welcome relief for both businesses and consumers alike....

As of 1 January 2022, Aarhus Logistics Center (ALC) changes its name to Blue Water Logistics, in order to optimise the port setup and continue increasing the efficiency of the activities for the benefit of customers and business partners. In 2013, Blue Water Shipping acquired ALC, which has been operated independently servicing new and long-time customers within logistics, stevedoring, and warehousing. “The change of name will not affect customer relations, cooperation agreements, or ser...

On behalf of Pakistan Customs, the Pakistan Single Window Company signs an agreement with TradeLens, a blockchain-underpinned logistics platform supported by 5 of the 6 largest ocean carriers globally, to digitise import-export documentation of the containerised cargo moving in and out of the country. Pakistan’s international trade ecosystem is being rapidly transformed through the introduction of technology-driven initiatives led by the Pakistan Single Window and the country’s auth...