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The skies may be grey from the rain today, but the shipping industry last week did see some highs. Yang Ming Marine Transport Signs a Deal for Ten Newbuild Boxships The Taiwan-based container shipping company, Yang Ming Marine Transport, has signed the time charter agreements with two renowned companies – Shoei Kisen Kaisha (based in Japan) and Costamere (based in Greece) for the construction of ten containerships. As per the recent agreements, the Yang Ming organization will charter five new boxships (each of 12,000 teu) from Costamere and five new boxships (each of 11,000 teu) from Shoei Kisen Kaisha, as well. It has been settled that the Japanese company (Shoei Kisen Kaisha) will hand over the construction to the affiliated Imabari Shipbuilding yard, while the Greek company will order the new ships at the Yangzijiang Shipbuilding yard. The delivery dates are scheduled between 2020 and 2021. The newbuild vessels will be following the updated IMO regulations regarding the emissions and ballast water treatment systems. Yang Ming has revealed its future plans for expanding and optimizing its fleet by replacing older ships with fresh ones. Presently, Yang Ming is busy managing a fleet of 106 container vessels with a total capacity of around 600,000 teu. COSCO Shipping Ports Plans to Develop Nantong Terminal into a Major Transhipment Hub COSCO Shipping Ports (CSP) has taken the initiative of upgrading the Nantong Tonghai Terminal to a transhipment hub on the lower Yangtze River. Owing to its suitable location, the Nantong Terminal has the full potential of optimizing its terminal networks in the Yangtze River Economic Belt. Besides the providing the feeder services on the Yangtze River, the Nantong Terminal has a Japan service along with several local routes. The terminal contains one bulk berth and three container berths with an annual handling capacity of 5.37m tons and 1.47m teu. It is expected that all the domestic/foreign trade companies will be shifted to the improved Nantong Terminal from the earlier Langshan Port in the July-August period. Moreover, the CSP has other plans of constructing a logistics park and container freight station outside the Nantong Terminal. The CSP considers the Nantong Tonghai logistics project as a way to accentuate the competitive spirit of the terminal and to enhance its profitability, as well. Evergreen Line Introduces a New China-India Express 3 (CIX3) Service: Of recent, the Evergreen Line company has established its power by launching the new China-India Express 3 (CIX3) service in the trade lane that links North/Central China with Western India. The port rotation has been decided as Qingdao- Shanghai- Ningbo- Da Chan Bay- Port Klang- Nhava Sheva (GTI)- Mundra (Adani)- Hazira (Adani)- Colombo- Port Klang- Singapore- Haiphong- Qingdao. On 30 th June of this year, Evergreen’s maiden vessel (called the ‘Ever Uranus 124E) anchored at the Hazira Adina Port. The Port had arranged a small function to celebrate the occasion along with the presence of important officials from Evergreen India, sub-agents of Evergreen India (for Hazira), Hazari Adani Port officials, BOXCO Shipping Services, and of course, the Master of the ship. The Evergreen Line has teamed up with the Pendulum, KMTC and GSL for the CIX3 service. The Ganga Jal Marg Vikas Project Is Expected to Reach Completion by the End of 2018 According to the recent updates, the construction work for the upcoming Varanasi river terminal is due for completion by the end of this year. The project is being funded by the World Bank and so far, it has been impressed by the progress of the Rs 5,369- crore project. The new Varanasi river terminal falls under the Ganga Jal Marg Vikas Project, which has been visualized by the Indian Government as the creation of an all-weather, river transport facility. This river transport service will enable the transfer of 45 million tons of cargo between Varanasi and Kolkata, through the 1,400km stretch of the river Ganga connecting the two cities. Members of THE Alliance Has Updated Six Services in the Asia-North America West Coast Hapag-Llyod, Yang Ming and Ocean Network Express, the members of THE Alliance have declared a services update concerning the Trans-Pacific – West Coast products under their supervision. This is done in order to enhance the cost efficiency and the schedule integrity as featured in the six services in the Asia-North America West Coast. THE Alliance will continue maintaining its numerous services oscillating between the Trans-Pacific and West Coast region, which includes the weekly sailings at the key ports. The organization is constantly improving and refining its services to offer top-notch products in the marketplace. Reportedly, the PS5 and PS8 services will combine to cater to the needs of the clients connecting the major ports of Central China, North China and North America. Want to know more news Around the World ? Stay tuned every Monday to ODeX and get the latest in shipping.