Category archives for: Asia Pacific

Global Marine Premiums Fall

Global Marine Premiums Fall

Global marine premiums dropped by 1.7% last year, falling from USD 34.8bn in 2012 to USD 34.2bn, as shown by the latest statistics released by the International Union of Marine Insurance (IUMI) at its 2014 annual conference held in Hong Kong. The conference gathered over 500 attendees who heard from industry experts on how the marine […]

Exclusive: Hidden Dangers of Shipping Alliances

Exclusive: Hidden Dangers of Shipping Alliances

The 2M alliance between the shipping heavyweights, Denmark’s Maersk Line and Swiss Mediterranean Shipping Company is currently under scrutiny of the U.S.A. and China regulators.  The companies are trying to appear confident in the approval of the alliance, saying that the U.S. Federal Maritime Commission’s (FMC) approval should be just a formality. Maersk Line’s Chief […]

TSA Recommends New Contract Rates

TSA Recommends New Contract Rates

Concerns of container shipping lines in the Asia-U.S. trade lane like sharply higher mandated fuel costs beginning in 2015, inland rail and truck capacity shortages are being addressed in a new approach for the Transpacific Stabilization Agreement (TSA), as the carrier discussion group prepares for a new round of service contract negotiations, TSA said.  The research and discussion […]

MOL Merges Companies

MOL Merges Companies

Mitsui O.S.K. Lines, Ltd. merged MOL Marine Consulting, Ltd. (MOLMC) and MOL Cable Ship Ltd., on October 1, 2014. The new company, called MOL Marine Co., Ltd., will continue to develop the businesses pioneered by its two predecessors. MOL says that the merger will integrate both companies’ expertise in marine technology and ship management, enabling the development […]

AMSA Rescues 15 from Burning Vessel

AMSA Rescues 15 from Burning Vessel

The Australian Maritime Safety Authority (AMSA) reports that fifteen people have been rescued from a burning fishing vessel about 670 km west of Carnarvon, West Australia, Wednesday morning, October 1. AMSA coordinated the rescue after detecting a Taiwanese coded distress beacon from a fishing vessel at about 11.30 pm AEST, Tuesday, September 30. AMSA tasked its search […]

JBIC Bankrolls Ultrabulk’s Newbuilding Pair

JBIC Bankrolls Ultrabulk’s Newbuilding Pair

The Japan Bank for International Cooperation (JBIC) has agreed to finance two Handysize bulk carriers ordered by Ultrabulk Shipping A/S Group, a member company of Chile-based shipholding group Naviera Ultranav Limitada (Ultranav), and operator of the group’s bulk carriers based in Denmark. The USD 37.3 million loan is co-financed by the Tokyo Branch of BNP Paribas […]

UASC: Shipping Alliances Will Stifle Smaller Operators

UASC: Shipping Alliances Will Stifle Smaller Operators

John Hinge, President and CEO of United Arab Shipping Co. (UASC) believes shipping alliances will help the box markets on what he called ”a slow journey to recovery,” stabilising the freight rates along the way, the Wall Street Journal reports. UASC President has projected a bright outlook for major box shippers who have been struggling with […]

Hamburg Süd Christens Cap San Antonio

Hamburg Süd Christens Cap San Antonio

On Friday, September 26, Hamburg Süd christened its latest container ship “Cap San Antonio” at the Cruise Terminal of Le Havre, France, with customers and business partners. The “Cap San Antonio” is one of a series of six new ships of the “Cap San” class built for Hamburg Süd at the Hyundai Heavy Industries shipyard in […]

Samsung Heavy Venturing Overseas

Samsung Heavy Venturing Overseas

South Korea’s Samsung Heavy Industries Co. (SHI) has revealed plans to spread overseas by establishing the first facility abroad in an effort to revive production following the merger of Samsung’s shipbuilding and engineering units.  Bloomberg reports that SHI is ready to invest around USD 950 million in the overseas shipbuilding facility by 2017, according to SHI’s […]

Australian DP World Terminals Facing Strike

Australian DP World Terminals Facing Strike

Members of the Maritime Union Australia employed by DP World terminals in Sydney and Melbourne announced their plans to stop work this week. Four-hour work stoppages are expected from 10.00am Wednesday October 1 until 2.00pm, 6.00pm until 10.00pm and 2.00am until 6.00am on Thursday October 2 at Sydney terminals. All members of the MUA employed […]

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