Finance - News

A.P. Moller – Maersk (Maersk), an integrated container logistics company, is supporting the society fight the second wave of COVID-19 pandemic in India by facilitating the logistics and supply chain of medical relief.   Maersk has offered its ocean transportation service to institutions and organisations participating in medical relief at a nominal rate of 1 USD per container. All commercial air freight shipments facilitated by Maersk India are being done on a zero-profit basis. Tr...

New Times Shipbuilding  Co. Ltd., located in Jiangsu Province, China, has ordered 3 x MAN B&W 6G70ME-GI engines in connection with the construction of 3 x 210,000 dwt bulkcarriers for Eastern Pacific (EPS), the Singapore-based shipping company.   CSSC-MES Diesel (CMD) will build the engines in China, while Rio Tinto – the metals and mining multinational – will charter the vessels upon their entering service. The contract includes an option for three further vessels....

Wilhelmsen Ship Management (Wilhelmsen) is proud to announce the smooth and successful takeover of Ertuğrul Gazi, the first Turkish-flagged floating storage and regasification unit (FSRU) vessel. The new-build FSRU, built at Hyundai Heavy Industries, South Korea, is owned by the Turkish state-owned crude oil and natural gas pipeline corporation, BOTAŞ. Ertuğrul Gazi FSRU The newly built FSRU completed its sea trials in March 2021 and will operate in the İskenderun Bay The newly built FSRU co...

For several years, Blue Water Shipping has been active with different port-related services in Thyboron, on the west coast of Jutland. “In recent years, we have been involved in various projects. Seeing a future great potential, we have decided to open an office in the Port of Thyboron in cooperation with a local partner, Kynde & Toft," says Søren Stougaard from Blue Water’s Port Service Division. Major steel constructions Since its establishment in 1958, Kynde & To...

Pharmaceutical supply chains are not in the business of delivering products. They are responsible for human wellbeing and delivering high-quality care to patients. For that reason, there’s nothing more important than reliability in pharma & healthcare logistics. In the current situation, the flexibility to respond to the reality of the task at hand is also paramount. For instance, a company may meet critical deadlines by flying its COVID-19 vaccine to those hit by another wave of th...

On May 20, 2021, Singapore -flagged Containership, 'X-Press Pearl' reported smoke from the cargo hold while at Colombo anchorage, Sri Lanka. Emergency procedures were initiated, and Co2 was released into the cargo hold. Port control and the local authority were informed, and Sri Lankan navy assets along with firefighting teams were placed on standby. Water spraying tugs On May 21, the vessel reported fire on deck. Firefighting tugs were deployed by the port authority and a helicopter providin...

Speaking on a panel at the Port of Houston’s Global Freight Summit on 19 May, Maersk North America Managing Director Narin Phol shared the company’s timeline, strategy and plans to decarbonise operations by 2050. “Decarbonisation is an important agenda for the industry and for Maersk. We are part of the problem and so must be part of the solution. Around half of Maersk’s 200 largest customers have set – or are in the process of setting – ambitious science-b...

The global pandemic has changed all lives, the entire world, and its supply chains. Still very much affecting families, friends and livelihoods, the industry is shifting from personal counters to digital doorways. What COVID-19 has amplified is the urgency in quick reactions to change, as well as the importance of contingency management, visibility and traceability.   At the beginning of March, Vincent Clerc, A.P. Moller - Maersk’s CEO of Ocean & Logistics spoke at the JOC Trans...

Starting in June 2021, CULINES will strengthen the Europe service AEX by providing more frequency from monthly to bi-weekly. To meet customers' demands in Asia-Europe Express Service (AEX service), CULINES will provide more space from June 2021, by upgrading the frequency from monthly to bi-weekly. In addition to the current two 4250TEU type vessels on AEX service, there will be two more vessels of similar size deploying fixedly on the AEX. Upgraded AEX service To provide tailor-made service,...

On May 13, 2021, the container ship - ‘Haifeng Haikou’ imported by Hainan Haifeng Shipping Co., Ltd. was officially put into operation. This ship is the first international ship registered in Hainan Free Trade Port from foreign nationality, since the release of the ‘Overall Plan for the Construction of Hainan Free Trade Port’ on June 1, 2020. It is also the first ‘zero-tariff’ import and international shipping ship. Efficient approval efficiency With the fu...

FESCO Transportation Group is expanding its domestic route network and has launched a new regular container train ‘FESCO Chita Shuttle’ going from the Terminal and Logistics Centre Bely Rast (Moscow) to Chita. FESCO Chita Shuttle service The service was used for the transportation of goods varying from consumer products to equipment The trains will depart once a week from the Bely Rast station, transit time to the destination – station Chita-1 – is 7 days. Th...

  A.P. Moller-Maersk strengthens its contract logistics and distribution capabilities in Vietnam with three new facilities coming into operation in Song Than and Bac Ninh. These warehouses, together with the other 11 self-managed facilities in the country, will enhance Maersk’s logistics capacity for future growth in Vietnam. Increasing the footprint “Contract Logistics and Distribution is a crucial component in our customers’ supply chains. By connecting and simplif...

  China Unicom Digital Tech, the subsidiary of China Unicom, the global leading telecommunication service provider, announced its partnership with TradeLens to enable its official commercialization in China, and ensure the provision of a fully integrated, real-time and consistent view of logistics data for containerized freight around the world.   TradeLens is a blockchain-enabled digital container logistics platform, jointly developed by A.P. Moller - Maersk and IBM. Collaboration...

A decade after refocusing its strategy on renewable fuels and plastics, Neste’s Q1 2021 results show that the company is on track in creating the change needed to build a more sustainable future. Over the last decade, Neste has become a major player in renewables. Its transformation from a regional oil refinery to becoming a globally renowned company in renewable and circular solutions speaks loudly about limitless curiosity, courage, hard work and perseverance. Neste – one of the...

On Tuesday, March 23, a 400-meter-long container vessel ran aground and became lodged sideways across the waterway in the Suez Canal. Almost a week in and with a staggering cost of $9 billion a day in lost commerce, everyone took a collective sigh of relief when the vessel was re-floated. However, the relief was short-lived and soon after, shipping lines started to warn about ripple effects. So What Does This Entail? If one vessel is one week delayed and one is on time – they will be sa...

Neste, the producer of renewable diesel and largest renewable diesel supplier in California, announced it had opened two new Neste MY Renewable Diesel fueling stations in southern California. The company’s ambition is to create a renewable diesel fueling network across the U.S. West Coast. Benefits of renewable diesel Neste MY Renewable Diesel is a triple win for any fleet operator with vehicles on the road" “Neste MY Renewable Diesel is a triple win for any fleet operator with v...

Wrist offers fresh Norwegian water in recyclable packaging to customers in Northern Europe, aiming towards expanding the assortment with more and more green alternatives. It is still in the early phase of the sustainability journey, but offer their customers an alternative option to plastic bottles, when sourcing fresh water for those at sea. With recyclable water cartons, made of paper from FSC-certified forests and plant-based polymers from Bonsucro-certified sugar cane, Wrist aims to help re...

When Blue Water and Tekstilfabrikken entered into a dialogue in 2018, the company was using a storage facility which had trouble handling both B2C and B2B shipments at the same time. Also, communication could have been better according to Claus Hauge, Director of Tekstilfabrikken:  Claus Hauge said, “We were looking for a logistics provider able to handle our shipments without any hurdles. My team and I wanted time to focus on what we do best – to produce clothing made of sust...

From April 29 to 30, 2021, a group of three members from the China Classification Society conducted an annual audit on the DOC of Shanghai Haifeng Ship Management Co., Ltd.  By the requirements of the International Ship Safety Management and Pollution Prevention Code (ISM Code), the audit team comprehensively reviewed the company's document operation and ship and shore management, and highly praised the company's management personnel for the continuo...

Satcom Global has announced a significant enhancement to its Ku-band Aura VSAT network, with the addition of the Eutelsat 174A (E174A) North Pacific and South Pacific satellite beams. The new coverage will strengthen and extend the Aura network, across the North Pacific and Oceania regions, supporting the high-quality connectivity demands of a diverse range of maritime sectors, including shipping, commercial fishing, workboat, offshore supply and leisure. E174A North and South Pacific beams T...

ZIM Integrated Shipping Services Ltd., a global container liner shipping company, announces the establishment of ZIMARK, a technology-based company formed in collaboration with the Israeli startup Sodyo Ltd., to provide next-generation scanning solutions for the logistics and supply chain sectors. In addition to the joint venture with Sodyo in the establishment of ZIMARK, ZIM will also make a direct equity investment in Sodyo. ZIMARK will provide its customers innovative scanning solutions usin...

The first containers coming from Asia on this new regular service arrived at the largest Russian port of Vostochny on Sealand vessels. On 22nd April, the containers were dispatched by train from the Russian VSC terminal (part of Global Ports Inc.) to the NUTEP terminal (part of Delo Ports) at the port of Novorossiysk, also on Russian soil. From Novorossiysk, the cargo now resumes by sea to destinations in Ukraine and Turkey. New route alternative AE77 is an important milestone in Maersk's exp...

FESCO Transportation Group and TLK Globus have signed a cooperation agreement within the TransRussia exhibition and agreed to cooperate in the transportation of containerised timber from Siberia and the Far East to China. FESCO and Globus are going to develop timber transportation from Siberia and the Far East to China using their experience and expertise and developing FESCO’s services for cargo transportation from Krasnoyarsk and Khabarovsk to different cities in China via the Commercia...

The Wilhelmsen Thyssenkrupp AM fulfillment platform currently serves more than 3,000 vessels from key locations worldwide, addressing and solving some of the biggest pain points such as long lead time, part obsolescence, poor part performance and high carbon footprint, through on-demand manufacturing. Cooperating with several Original Equipment Manufacturers (OEMs), the venture is empowering OEMs to reduce their supply chain costs and improve customer experience, through increased serviceabilit...

Wan Hai Lines will expand further on its already extensive South East - Asia network by launching a new weekly service between Taiwan – Thailand – Vietnam (Taiwan - Thailand - Vietnam service). The service will be operated by two container vessels with a capacity of 1,050 TEU.  Port rotation of the service is as follows- TAIPEI- KAOHSIUNG- LAEM CHABANG- CAT LAI- KAOHSIUNG- TAIPEI The first voyage is scheduled from TAIPEI on May 2nd, 2021. The TVT2 service, which connects South...

The Seafarers’ Charity awards grants to new online services to support seafarers who have experienced sexual violence, and to help tackle loneliness and suicide. Actioning their new strategic approach, The Seafarers’ Charity awarded a total of £844,760 to 17 organisations in its first meeting of this year’s grant programme. The charity recently launched its strategy ‘Thrive’, which focuses on achieving five strategic outcomes for seafarers (enhanced financial...

Foundation Det Norske Veritas – which owns DNV Group – has teamed up with the Maritime and Port Authority of Singapore (MPA) and five other industry leaders to establish a maritime decarbonisation centre in Singapore. The centre’s stated mission is to catalyse and facilitate decarbonisation in the maritime sector and will be supported by contributions from the founding members totalling S$120 million. Its creation follows the release of a recommendation by the International Ad...

Florham Park, New Jersey USA – Maersk North America’s Destination Cargo Management (DCM) product is designed to optimise destination planning and delivery in supply chains. This segment holds the most opportunity for importers to reduce demurrage and detention (D&D) storage costs and improve end-user experience. Storage costs Maersk recently performed a study of storage costs in the North America Warehousing and Distribution (W&D) market to identify trends in D&D costs...

Anson, the fifth of seven Astute class attack submarines, being built for the Royal Navy, has been launched at BAE Systems’ site in Barrow-in-Furness, Cumbria, in the United Kingdom. The 7,400-tonne nuclear-powered submarine, officially named at a ceremony in December, emerged from the Devonshire Dock Hall and entered the water for the first time, earlier on April 20, 2021. The launch was a special moment for the Barrow shipyard, which is celebrating its 150th year of establishment and a...

The automotive manufacturing sector works on a ‘Just-In-Time’ model for the supply chains of its parts and components. Automotive manufacturers require highly reliable logistics services that can move their raw material and finished products on precise schedules to ensure uninterrupted production processes. For years several of these manufacturers based in and around Gurugram, the northern part of India, has been dependent on staggered and unscheduled rail movement for their cargo g...