Finance - News

MAN Energy Solutions has received an order for 5 × 6G70ME-GI Mk 10.5 dual-fuel engines in connection with the construction of 5 × 210,000-dwt Newcastlemax bulkcarriers for EPS, the Singapore-based shipping company. EPS has sealed an agreement to charter the five LNG dual-fuel Newcastlemaxes to Australian mining giant, BHP, for a period of five years. The vessels are scheduled for delivery during 2022 and will carry iron ore between Western Australia and China. Dry bulk shipping fle...

Airfreight allows people to effectively and efficiently transport what they need, around the world, fast. Enterprises might be launching a product globally or carrying on a large project with a team waiting on parts. It might just be that their timeline has overrun and now they have to get the goods in a hurry! Whether a charter is what they need or just a general shipping requirement, TGI Cargo has the professional team at the ready to service all needs. Air freight and door to door service...

Within the framework of a new seasonal intermodal container service, FESCO Transportation Group ('FESCO') delivered about 300 TEU of various cargoes from Novosibirsk to settlements in Yakutia, taking over almost 25% of the market on this route. The service was launched in July 2020 in test mode, and it has been working regularly since August. In 2021, it will operate from May to September depending on the river navigation. Intermodal service The intermodal service includes railway delivery by...

On the morning of October 27, 2020, SITC International and Yangzijiang Shipbuilding held a ceremony for the naming and delivery of the new ship ‘SITC Klang.’ Smooth ship delivery Mr. Yang Xianxiang, Vice Chairman and CEO of SITC International, along with his wife and godmother Ms. Liu Lan, Mr. Ren Letian, Chairman of Yangzijiang Shipbuilding Group, Mr. Xiao Senyuan, Vice President of SITC Shipping Group, and representatives of teachers and students of Shanghai Maritime University a...

The Joint Working Group (JWG) comprising the Nigerian Maritime Administration and Safety Agency (NIMASA), the Ministry of Transport, Nigerian Navy, Nigeria Ports Authority, Marine Police Interpol, the oil industry (represented by OCIMF), and shipping industry (represented by ICS, BIMCO, INTERCARGO, INTERTANKO, and the Nigerian Shipowners’ Association) was established in May 2020, in order to facilitate coordination between government and industry and align efforts to deter and respond to i...

Blue Water Shipping has just won the Airfreight Solution of the Year award at the international Heavy Lift Awards 2020. Blue Water took home the trophy, awarded within the project cargo category, for its involvement in the delivery of the world’s first Siemens SGT-A45 turbine. The panel of judges found Blue Water’s transport of the turbine - which is the world’s strongest mobile gas turbine – to be the most technically complex project handled last year within this catego...

The newly established agreement means that in the future Blue Water will be handling CUBIC’s sea and air freight as well as a courier – primarily from CUBIC’s headquarters in Brønderslev, Denmark to worldwide destinations. Furthermore, the agreement covers global transport from the company’s branches in Poland and China. Customised transport solutions “We chose Blue Water as our transport partner due to their wide range of transport products. We have...

T.S. Lines LTD., KMTC (Korea Marine Transport Co., Ltd.) and X-Press Feeders will launch in late October 2020, a weekly service connecting China, the Straits, Western India and Pakistan. The China - Western India - Pakistan Loop will return to East Asia via a way port call at Colombo, Sri Lanka. China - Western India - Pakistan Loop T.S. Lines and X-Press Feeders will market the new offer as ‘China India West Coast X-Press’ (CWX), while KMTC will market it as ‘AIS4’. Th...

On the morning of 29th October 2020, along with its steam whistle, the 1200TEU container ship AS FLORA set sail from Yangpu Port, Hainan. CULines held a ceremony at Xiaochantan Terminal of Yangpu Port to celebrate the maiden voyage of its China-Vietnam international liner service (SHX) from Yangpu. Guest present Present at the ceremony were partners of the Hainan Provincial Port and Shipping Administration, the Economic Development Bureau of Yangpu Economic Development Zone, the Provincial De...

SBM Offshore is pleased to announce that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase of the Payara development project located in the Stabroek block in Guyana. Under these contracts, SBM Offshore will construct, install and then lease and operate the Prosperity FPSO for a period of up to two years, after which the FPSO ownership and operation will transfer to EEPGL. The award follows th...

FESCO Transportation Group (FESCO) delivered equipment, including four steam generators of 358 tons each, from the Rostov region to the Akkuyu nuclear power plant under construction in Turkey. To implement this project, FESCO’s experts developed individual transportation schemes. Steam generators, which are recognised as oversized and heavy equipment, were delivered from the manufacturer – the branch of JSC AEM-technologies Atommash in Volgodonsk – by purpose-built vehicles to...

Yang Shaopeng, Chairman of the Board of Directors of SITC International, attended the opening ceremony of Hainan SITC Shipping Co., Ltd. in Haikou.  Haikou Comprehensive Bonded Zone Management Committee, Hainan Provincial Department of Communications, Hainan Maritime Safety Administration, Hainan Provincial Port and Shipping Administration, Haikou Customs, Haikou Investment Promotion Bureau, China Classification Society Hainan Branch, some directors of the Chinese Entrepreneurs Club, and m...

Utilising ThyssenKrupp's deep expertise in additive manufacturing, alongside Wilhelmsen’s long-standing maritime service and supply know-how, the maritime company’s recent experiences from its 3DP Early Adopter Program will be an important stepping stone for the new venture. The program, where customers have exclusive access to on-demand additive manufacturing was launched by Wilhelmsen’s Marine Products division in December 2019. Customers include Berge Bulk, Carnival Ma...

MPC Container Ships ASA is pleased to announce the appointment of Dr. Benjamin Pfeifer as Group CFO commencing 1 January 2021. Experience Dr. Pfeifer brings to the Company a CFO and corporate finance background from various industries. He will join the Company from Luxembourg-based Garant Holding International S.A. where he presently serves as CFO and member of the Board of Directors. Dr. Pfeifer holds a Doctorate of Economics from the European Business School in Oestrich-Winkel, Germany. D...

FESCO Transportation Group is launching FESCO Arctic Line – a new maritime container service, which will connect the ports of Provideniya and Pevek in the Chukotka Autonomous Area with the ports of China and the USA. Direct mixed railway The service will operate on the following routes: Qingdao (China) - Taicang (China) - Provideniya - Pevek, and Everett (USA) - Provideniya - Pevek. Calls to the port of Vladivostok and Vostochny will be also possible. The transportation will be carried o...

Wan Hai Lines Ltd. held a ship naming ceremony for WAN HAI 321, WAN HAI 322 and WAN HAI 323 at JAPAN MARINE UNITED CORPORATION KURE SHIPYARD. Mrs. & Mr. Susowake, Managing Executive Officer of Mitsui Chemicals Corporation, Mrs. & Mr. Hayashi, Senior Manager of Overseas Transport Dept. Global Network Division of Toshiba Logistics Corp, Mrs. & Mr. Ni, Managing Director of America Chung Nam Japan K.K. officially named the ships, respectively, during the ceremony. 8 container vessels o...

Iver Christian Olerud has been appointed the new Executive Vice President for Strategy and Business Development in Kongsberg Gruppen ASA. Mr Olerud takes over from Harald Aarø, who was recently appointed head of the company's space division. He has a Master of Science degree in Economics and Business Administration from NHH Norwegian School of Economics and many years experience of in finance, M&A activities, and business development in international listed companies. Olerud's w...

In response to the growing demand for services in the northeastern part of South America, Blue Water Shipping opened a Caribbean office in Georgetown, Guyana recently. In addition to having over 1,700 employees in a network of 60+ offices, BWS has more than 45 years of experience under their belt, making them a reliable and trustworthy logistics provider. Along with the official opening, Blue Water has appointed Guyana native - Richard DeNobrega to lead operations. He holds over a decade of exp...

In July 2019, the first cargo left the Russian Far East on A.P. Moller - Maersk’s AE19 service, a unique combination of a short-sea and intercontinental rail product, which connects several origins in Asia with ports in Northern Europe.   In September 2020, just over a year later, and thanks to increased customer interest, the combined ocean-rail product becomes a permanent weekly service. The AE19 service complements Maersk’s regular Asia-Europe product offering based on conv...

FESCO Transportation Group (FESCO, Group) announces the appointment of Arkadiy Korosteljov as the President of the Group on 4 September 2020. Maxim Sakharov, who held this position, is now holding the position of the First Deputy President of FESCO. The decision was made on 3 September 2020 by the Board of Directors of FESCO (the parent company of the Group). Successful debt restructuring Leyla Mammad Zada, Chairperson of the Board of Directors of FESCO, said “The global economic crisis...

SITC International and Yangzijiang Shipbuilding Industry Co., Ltd. (Yangzijiang Shipbuilding) have signed a contract for six newbuildings of 1800 TEU and an option agreement for six vessels. Yang Shaopeng, the Chairman of the Board of Directors of SITC International, Ren Yuanlin, the Honourary Chairman of Yangzijiang Shipbuilding and other leaders attended the signing ceremony. Yang Xianxiang, the Vice Chairman and Chief Executive Officer (CEO) of SITC International, and Ren Letian, the Chairma...

FESCO Transportation Group (FESCO) is expanding its network of domestic routes for regular container services and launching FESCO Ural Amur Shuttle - a new train from Ekaterinburg to Khabarovsk. Regular container train FESCO launches a regular container train from Ekaterinburg to KhabarovskTrains will depart once a week from Koltsovo station. Transit time to the destination – FESCO Stroyopttorg terminal at Krasnaya Rechka station – is seven days. The service will be used to transpo...

Wan Hai Lines Ltd. is pleased to announce its plan to strengthen its intra-Asia service network through a new weekly service from South China to Indonesia & Malaysia as of 14th November 2020, marketed as KCS2. The new service rotation shall cover Hong Kong – Nansha – Shekou – Surabaya – Semarang – Jakarta – Port Kelang – Hong Kong and deploys 3 of 1,800 TEU vessels. The maiden sailing is scheduled from Hong Kong port on 14th November 2020. Mor...

On the morning of August 12, 2020, SITC International and Yangzijiang Shipbuilding held a ceremony for the naming and delivery of the new ship - ‘SITC Nansha.’ Mr. Xue Mingyuan, Executive Director of SITC International, President of SITC Shipping Group, Mr. Du Chengzhong, Deputy General Manager of Yangzijiang Shipbuilding Group, Mr. Deng Guosheng, Secretary of the Party Committee and General Manager of Guangzhou Port Co., Ltd., Mr. Chen Junyi, Deputy Director of Guangzhou Nansha Dev...

Maritime Anti-Corruption Network (MACN) is pleased to share the MACN’s 2019 Impact report. The report describes the exciting results of the collective action programmes and the engagement in the membership on tools and best practice sharing. The report also includes a summary of the direction that the Maritime Anti-Corruption Network (MACN) will take in the coming years, with the new 2025 strategy.   MACN’s 2025 strategy John Sypnowich, the Chair of the Steering Committe...

MySky, the only AI-powered spend management platform designed for the private aviation industry, and Satcom Direct (SD), the business aviation solutions provider, announced a strategic alliance enabling seamless access to real-time data for private aviation. Subscribers to MySky and SD will greatly benefit from an all-encompassing approach to aircraft management that combines operational and financial information into a single source of data, the SD Pro® platform. MySky and Satcom Direct p...

MAN Energy Solutions successful ME-GI (-Gas Injection) engine has set a new industrial standard for two-stroke propulsion engines aboard among others LNG carriers, container vessels, car carriers, and bulk carriers. The ME-GI engine provides ship-owners and operators with a peerless solution within environmentally friendly and high-efficiency, two-stroke technology, without the greenhouse emissions such as methane slip that are characteristic of competing engines. Multi-fuel combustion With t...

HMM announced that the company has signed sales and purchase agreement with CMA CGM for the sale of its 50% stake, minus one share, in the Total Terminal International Algeciras (TTI Algeciras), a container terminal in the south of Spain. 50% stake sale of TTI Algeciras Shares of TTI Algeciras are owned by HMM and HT Algeciras, which is a special purpose company that is wholly controlled by HMM. HMM directly owns a stake of 50% minus one share, with the remaining 50% stake plus one share held...

Unifeeder announces that starting August 22nd, 2020, it will increase capacity on its weekly service between Benelux and Portugal. To serve all customer segments, Unifeeder deploys new vessels that are suitable for carrying all types of containers, from deep-sea cargo to tank containers and European 45’ pallet-wide containers. Rotterdam being the leading European hub port allows consolidation Intra-European cargo flows on a single vessel and distribution to key ports in Portugal. The ser...

July 11, 2020, is the 16th China Navigation Day. The ‘2020 China Navigation Day Forum’ with the theme of ‘Joining Hands to Maintain International Logistics Flow’ was held in Shanghai. Mr. Liu Xiaoming, Deputy Minister of the Ministry of Transport, Mr. Tang Zhiping, Deputy Mayor of Shanghai Municipal People's Government, Mr. Li Tianbi, Safety Director of the Ministry of Transport, Mr. Huang Rong, Deputy Secretary-General of Shanghai Municipal People's Government and other...