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Here is what happened in Ocean Shipping between 15 – 21st October 2018. Modern Bulker Vessels Are Currently in Huge Demand of Buying Interest Of late, the steady performance in the purchase market and secondhand dry bulk sale is continuing for a long time, as are the positive outcomes in the majority of the bulker chartering sectors in the shipping industry. On the other hand, there has been a significant downfall in the activities of the tanker sale and purchase market. In spite of the negligible activity occurring in the period market for capes, the Alibra’s weekly report has declared the overall result to be definitely positive. Similarly, the fact that the period activity for the panamaxes has been putting up a strong performance since long is clearly noticeable if we observe the strong rates in the Atlantic region. The main conclusion that has been derived from the present scenario with the market holding at good activity levels, is that the maximum reported volume has been completely in the favor of modern, large-sized bulkers like capes and panamaxes . Nowadays, the buying interest is tilting in the direction of modern tonnage because of the low-risk factors associated with any conversions or future works that might be required to maintain the new emissions rules. If we consider the tanker segment, the strong activity record has suddenly decreased to an average level, almost back to how it started at the beginning of 2018. Read More Evergreen Marine Has Achieved a Majority Stake in the Green Andes Shipping Agency The Evergreen Marine is a successful, privately owned, container shipping line that is based in Taiwan. The Evergreen Marine company has signed the deal for a majority stake with 60% shareholding in the Green Andes Shipping Agency (GASAC) from Chile, which is considered as a subsidiary of the Ultramar Group. The Ultramar Group is undoubtedly a great leader in the maritime arena of the South American nation. This news update has been published in the online issue of the renowned Global Legal Chronicle. The Ultramar Group is responsible for supervising several terminals in Chile, such as the TPA, TGN, Puerto Mejillones, Angamos, TPS in Valparaiso, Puerto Coronel, etc. This well-established company is also the owner of several shipping companies like the Transmares, Ultragas, Ultrabulk, Ultratank , etc. that are primarily concerned with the transportation of specialized cargo. Apart from these companies, the Ultramar Group also owns various towage, tugs and logistics companies. Read More Bharat Mumbai Container Terminals Attends to the First Coastal Call from Shreyas Shipping The Bharat Mumbai Container Terminals (BMCT) has welcomed the arrival of the Shreyas Shipping after it made its first coastal call to the BMCT supervised by PSA. The Shreyas PIX 1 service (Pan India Express 1) made its debut call at BMCT, marking it as an important event. The BMCT offers a lot of opportunities for domestic shipment and international transhipment. The ‘M.V. SSL Mumbai’ vessel is in charge of operating the PIX 1 service along with some help from a sister vessel. The vessels follow the fixed rotation on a fortnightly basis: BMCT, Cochin, Tuticorin, Mangalore, Mundra, Hazira and back to BMCT again. Sivakumar Kaliannan, the General Manager of BMCT, has stated that the BMCT is pleased to receive the call from Shreyas since now the domestic shippers can now transfer the shipment from trucks to ships after investing in a relatively cheaper and eco-friendly transportation. Mr. Kaliannan is also looking forward to collaborate with Shreyas in order to allow carriers to enhance the connectivity and develop transhipment options. Read More The Kandla International Container Terminal Shows a Noteworthy Performance in Cargo Handling The Kandla International Container Terminal (KICT) at Deendayal Port has recently shown a remarkable performance in handling shipment for an SCI vessel. It is impressive as to how all the difficult, cargo handling operations were take care of in less than 12 hours! On October 11 th , the MV SCI Mumbai had anchored at the KICT and the cargo operations were promptly started on the next day, without any further delay. An approximate of 1,587 teus were handled in less than 12 hours and a berth productivity of 109.21 was achieved by KICT. Read More Ocean Network Express Reports a Great Loss in its Fiscal Year ONE is a Japanese carrier that supervises the combined container fleets of the NYK, “K” Line and MOL and is also responsible for promoting the containerized cargo business for the three above-mentioned companies. Ocean Network Express (ONE) has encountered an unpredictable loss of around $600 million in the first fiscal year because of multiple reasons like steep fuel prices, “teething” problems and shortage of staff. ONE has been going through a tough phase since it attempted to integrate the booking systems of the three container lines. Read More Want to know more news Around the World ? Stay tuned every Monday to ODeX and get the latest in shipping.