Blogs

What went on from 19th to 25th March 2018 in Ocean Shipping? We take a look here- iContainers Stresses the Significance of an Additional Cargo Insurance For the past few weeks, the Maersk Honam catastrophe has been the most talked about issue in the maritime world. The outbreak of fire on such a huge scale and the irreversible damage caused is a matter of international concern. As per the marine law, all the shipping carrier lines are entitled to cover a minimum amount of the insurance, though it is only up to a certain limit. According to the renowned iContainers team, the best advice for their customers is the purchase of additional coverage for their goods, in case of any unforeseen, natural or man-made disasters. Klaus Lysdal, the VP of sales and operations of iContainers, is of the opinion that this step is a well-thought investment to safeguard your cargo, right from the time it gets loaded on a vessel to the moment it is delivered to the intended buyers. Lysdal advocates this strategy to protect the valuable merchandise from any unintended damage during the course of shipping. This would further eliminate any uncertainty, as with the Honam mishap wherein the Maersk Company is still doubtful as to when the cargo is going to be delivered and which port the ship is headed. Lysdal stresses on the fact that having cargo insurance will not only secure your shipment but also will speed up the process of unloading it. Read More . Inauguration of a New Samskip Container Service Between Amsterdam and Hull A short-sea container service shuttling between the ports at Amsterdam and Hull, has been newly introduced at the Amsterdam Container Terminal (ACT), which had the THEA II vessel (340 teu sized) as its first call. This service has been introduced by the container operator called Samskip and will be operational for three sailings per week (leaving from Amsterdam on Monday, Wednesday, and Thursday) in the proposed route, as mentioned earlier. Clemence Cheng, Managing Director of Hutchison Ports Europe, believes that the Amsterdam Container Terminal is very efficient at allowing the associated shipping lines in providing a reliable service to its clients. Owing to its favorable location and excellent connectivity, the Amsterdam terminal is exceptionally good at handling cargo from all over the European continent. Read More . Chennai Port Has Successfully Crossed 50 Million Tons in Cargo Handling On March 28 th 2018, the Chennai Port crossed the 50 million tons’ mark in the field of cargo handling, during the ongoing financial year of 2017-18. Regarding the fate of the containers, the Port excelled itself by achieving 1.499 million tons on the same date and also exceeding last year’s count of 1.494 million tons. According to a recent press release, the Port has received widespread appreciation owing to its continuous success, despite cut-throat competition from the nearby ports. The Chairman of the Chennai Port has offered his gratitude to the trade fraternity for its constant cooperation and encouragement. Read More . Deendayal Port Trust Has Crossed the Last Fiscal Throughput On March 21 st 2018, the Deendayal Port Trust (DPT) has achieved a milestone in cargo handling by surpassing last fiscal’s throughput of 105.442 million tons of cargo. According to data analysis, the Port has crossed the mark 11 days before the completion of the present fiscal year. Therefore, it is safe to assume that the Port will soon attain the target mark (as set by the Ministry) of 106 million tons during this financial year. This incredible success is a benchmark for the Deendayal Port, which has definitely boosted its confidence. Read More . Garthcliff Shipping Has Acquired Its First Containership – Sentosa The UK-based company, Garthcliff Shipping, has finally acquired its first vessel called ‘Sentosa’. This containership was owned by the Germany-based Norddeutsche Reederei and was built in 2001. Garthcliff Shipping has received a great deal of support from not only the venture capital trusts but also the enterprise investment schemes. According to reports, Downing LLP has invested 5 million pounds for the acquisition of ‘Sentosa’, which is Downing LLP’s first deal in the UK shipping industry. The Greek company, Conbulk Shipmanagement, is taking care of the technical aspect of the vessel. Jonathan Boss, a partner at Downing LLP, has remarked that this is the ideal time for investment because a steady growth is being predicted in the shipping industry, for three years down the line. The supply of ‘patient capital’ to the small UK business ventures will ultimately boost trade in the long run. Read More . Want to know more news Around the World ? Stay tuned every Monday to ODeX and get the latest in shipping.