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The Chinese Transport Authority Has Imposed Fines On 12 Container Operators The Chinese Transport Authority has taken the decision to charge fine, not less than 12 container operators because of irregular figures in rate pricing and it also includes NVOCCs and shipowners. After a lot of investigation and probing into this rather serious matter, the ministry has come to the conclusion that the current freight prices for the services provided by the 12 container operators are not in sync with the original rates that they had previously filed with the Chinese Transport Authority. According to sources, the total amount of fine that has been imposed is approximate of $144,000. The 12 companies feature many local and global shipping organizations like Cosco Container Lines, HMM, Wan Hai Lines, Air-City Inc., CMA CGM, ZIM, TS Lines, C.H. Robinson Freight Services, US United Logistics, ZIM, and Expeditors International. The Ministry of Transport has future plans of carrying out more investigation into this freight pricing issue in order to ensure healthy growth of the shipping market in the long run. The South Florida Container Terminal Will Be Soon Accepting The Delivery Of Six Electric-Powered Cranes The South Florida Container Terminal will shortly receive the delivery of not one but six brand-new Rubber Tire Gantry Cranes or E-RTGs in the month of January in 2020, which has skillfully incorporated the latest developments in advanced technology and are powered by electricity. The new machinery will act as a substitute for the older toploaders in the container yard of the terminal and was powered by diesel and not electricity. After arriving at the South Florida container terminal, the new electric-powered cranes will undergo a necessary testing session for 30 days to assess their quality and will hopefully be ready for full-fledged operations by the month of February. The new machines have been welcomed by the entire team at the South Florida terminal owing to their potential of creating a much safer environment and enhanced efficiency. The Cochin Shipyard Might Soon Be Granted With The Control Of Alcock Ashdown The Cochin Shipyard might be entrusted with the supervision of Alcock Ashdown and this action might prove to be beneficial in the future as it is a well-thought attempt to kickstart the Gujarat government-owned company that specializes in shipbuilding and related services. Owing to the destabilized condition of Alcock Ashdown, the Union Shipping Minister (by the name of Mr.Mansukh Mandaviya) has instructed the state-owned and nationally famed Cochin Shipyard to take over the operations of the defunct shipbuilding company in the last try to revive its former services and to avoid the grave issue of unemployment after the mother company was permanently shut down. Hornbeck Offshore Services Has Been Delisted From The New York Stock Exchange Of recent, Hornbeck Offshore Services has made the news public that its common stock has been unfortunately delisted from The New York Stock Exchange (NYSE) in December 2019 and the company had already started its trading services on the OTC Pink marketplace on 23rd December. The reports are of the opinion that the reason behind the Hornbeck stock not making in on the NYSE list is that it failed to maintain the required average of a minimum of $15 million (which is valid over a period of 30 trading days) with respect to the global market capitalization. Positive Development Occurs At The Haldia Port Due To An Increase In Draught The Haldia Port has registered a very encouraging scenario for its rapid growth in the maritime industry and it has been entirely possible due to the steep increase in drought levels in the river channel. The Eden Channel or the Western Channel was established way back in September 2015 by the Kolkata Port Trust for allowing the smooth navigation of vessels that are meant to access the Port of Haldia. The dredging carried out at Jellingham along the siltation caused by the receding tide has resulted in a boon for the Haldia Port that will lead to the eventual normalization of the port’s operations. Sources: https://splash247.com/chinese-transport-authority-fines-12-container-operators/ https://www.porttechnology.org/news/south-florida-container-terminal-receives-new-electrical-zero-emissions-equipment/ http://www.maritimegateway.com/cochin-shipyard-may-take-alcock-ashdown/ https://www.marinelink.com/news/hornbeck-offshore-delisted-nyse-474166 http://www.eximin.net/NewsDetails.aspx?name=42904