Blogs

What went on from 12th to 18th March 2018 in Ocean Shipping? We take a look here- OOCL Has Struck a Perfect Balance Between Revenue and Utilization The Orient Overseas Container Line (OOCL) from Hong Kong, has wisely refrained from being obsessed with headline numbers and from joining the rat race in achieving higher volumes in the shipping industry. The Company’s net operating capacity experienced a great raise (22%, to be precise) to reach to 698,401 teu . According to Alan Tung, the CFO of the Company, the long-haul capacity experienced a massive growth in 2017. He believes that the Company has its priorities, firmly set in the right place and will not commit the mistake of running behind utilization and harming the revenue figures. Tung feels that with the steady improvement of networking, the load factor will automatically stabilize and lead to far better revenue gains in the long run. OOCL has already made plans for the year ahead and it has decided to focus gre atly on the Asia-Europe and the Transpacific trade. Read More . Maersk Kensington Suffers from an Outbreak of Fire After Maersk Honam experienced a great tragedy just a few days ago, now misfortune has struck Maersk Kensington too. Maersk Kensington was built way back in 2007 and is owned by the Maersk Line Limited (MLL), which is the US subsidiary of the Company. While traveling from Salalah (Oman) to Suez, the huge 6,188 teu vessel suddenly caught fire. This unfortunate incident was a result of a fire outbreak in one of the 3,518 containers kept in the cargo stash. Thankfully, the crew (consisting of 26 members) was efficient and fast enough in preventing the fire before it spread to the entire ship. Currently, the Maersk Kensington is anchored at Salalah, where it is replenishing its resources after the disaster and preparing itself to continue its journey again. Read More . Ferry Services to be Introduced in the Upcoming Haldia-Varanasi Waterway With a stroke of good luck, the new Haldia-Varanasi Waterway will be completed by December 2022 and start its operations as early as possible. In order to provide them with some expert guidance, the Inland Waterways Authority of India (IWAI) has hired a reputed consultant to conduct an extensive research on the identifiable and suitable locations in the regions of Kolkata, Patna, Bhagalpur, Munger, Varanasi, and last but not the least, Haldia. The Jal Marg Vikas Project (JMVP) is being introduced by the Indian government for implementing easy navigation through the Haldia-Varanasi stretch, which is conveniently located on the National Waterway 1 (Ganga). As per reports, the World Bank has offered assistance by offering support regarding the technical and financial matters, with an incredible sum of Rs. 5,369.18 crores. This project is all set to construct one navigational lock, two intermodal terminals, three multimodal terminals and vessel repair works, fairway development works, River Information System (RIS), RoRo terminals and maintenance facilities, as well. Read More . The V.O. Chidambaranar Port Has Recently Commissioned Electrically-Operated Hoppers On 14 th March 2018, the VOC Port has commissioned mobile rubber-tyred hoppers that are operated with the help of electricity. An inauguration ceremony was arranged and the new equipment based on advanced technology, was inaugurated by Mr. I. Jeyakumar (IRTS, Chairman of the VOC Port Trust) along with the presence of Captain K. Balachandran (Managing Director of Seaport Shipping), Mr. S. Natarajan (Deputy Chairman) and Mr. M.S. Saifuddin (Managing Director of Seaport Logistics). The Chennai-based Seapol Shipping has been awarded the prestigious project for designing, installing, supplying and maintaining 8 hoppers. The electrical hoppers would find an active involvement in handling the bulk cargo such as coal, rock phosphate, limestone, sulphur , gypsum etc. Read more . GSL Plans to Introduce New Services with Expansions in India, Middle East, and Africa In 2018, the Gold Star Line or GSL is all set to expand its services in the Intra- Asia region and venture into India, Middle East, and Africa. Last year, the Company had started the GCX Service that is currently being distributed in the South Asian and Middle Eastern markets and is highly successful. Danny Hoffman (MD of the Gold Star Line) feels that there are a plethora of business opportunities in the Intra-Asia sector and the GCX service enables connectivity of the ports in Pakistan, Sri Lanka, Middle East and Southeast Asia to the ports in China. The company believes that the increased involvement in the Intra-Asia region will boost the business and aid in developing a strong bond with the African Continent, in future. Read More . Want to know more news Around the World ? Stay tuned every Monday to ODeX and get the latest in shipping.