Shanghai: The Dalian Port Group has signed an agreement with Dalian's Lvshunkou district government to jointly develop Yangtouwa and Double-Island Bay areas, reports China Knowledge.
Under this new agreement, Dalian Port Group, which operates China's largest crude oil port will increase its investment in the planning, construction, operation of Lvshunkou district. A new venture, named Dalian Double Island Investment and Development Co Ltd, will be established to expedite the construction of an integrated port project and an industrial zone nearby.
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Sunday, August 17, 2008
Iran still hopeful on Turkey deals
Iranian President Mahmoud Ahmadinejad said today he hoped his country and Turkey would soon sign deals, opposed by Washington, in the natural gas and electricity sectors.
Ahmadinejad was speaking in Istanbul during a two-day visit where the two neighbours have failed to conclude expected energy accords. Turkish sources have attributed this to new demands from Iran, including pricing and investment conditions, wrote Reuters. Turkey has come under fire for inviting Ahmadinejad, who has lobbied hard since coming to power in 2005 to visit Turkey. Ankara is a Nato member with strong ties with the US and Israel. Europe has shunned the Iranian leader, who has called for the destruction of Israel and defied international demands for a suspension of his country's nuclear enrichment programme - the subject of ongoing talks between Iran and Western powers. "We have reached important agreements on natural gas and electricity issues. God willing we will complete them as soon as possible," Ahmadinejad said. The US has voiced its opposition to the energy deal amid a standoff between Iran and Western countries and is trying to isolate the Islamic Republic over fears it is pursuing a secret nuclear weapons programme. Tehran denies this.
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Ahmadinejad was speaking in Istanbul during a two-day visit where the two neighbours have failed to conclude expected energy accords. Turkish sources have attributed this to new demands from Iran, including pricing and investment conditions, wrote Reuters. Turkey has come under fire for inviting Ahmadinejad, who has lobbied hard since coming to power in 2005 to visit Turkey. Ankara is a Nato member with strong ties with the US and Israel. Europe has shunned the Iranian leader, who has called for the destruction of Israel and defied international demands for a suspension of his country's nuclear enrichment programme - the subject of ongoing talks between Iran and Western powers. "We have reached important agreements on natural gas and electricity issues. God willing we will complete them as soon as possible," Ahmadinejad said. The US has voiced its opposition to the energy deal amid a standoff between Iran and Western countries and is trying to isolate the Islamic Republic over fears it is pursuing a secret nuclear weapons programme. Tehran denies this.
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Seaspan profit rises 154 percent in second quarter
Boxship owner, Seaspan, announced a net profit of US$85.3 million in its second quarter compared to US$33.5 million in the same period last year.
Dahlman Rose & Co, the brokerage firm told American Shipper that the results were in line with expectations. "The containership market has eased this year, particularly on the Asia-US and Asia-Europe routes, although Eastern Hemisphere trading has remained robust,” he said. During the reported period ending June 30, normalised net earnings were at US$19.3 million compared to US$15.6 million in the same period of 2007. Seaspan's position in the marketplace is based on its access to debt capital for fleet expansion. “The major focus is either sale/leasebacks with top quality liner operators, taking over distressed newbuild construction slots or acquiring smaller companies with cash flow and/or credit shortfalls," said Dahlman Rose.
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Dahlman Rose & Co, the brokerage firm told American Shipper that the results were in line with expectations. "The containership market has eased this year, particularly on the Asia-US and Asia-Europe routes, although Eastern Hemisphere trading has remained robust,” he said. During the reported period ending June 30, normalised net earnings were at US$19.3 million compared to US$15.6 million in the same period of 2007. Seaspan's position in the marketplace is based on its access to debt capital for fleet expansion. “The major focus is either sale/leasebacks with top quality liner operators, taking over distressed newbuild construction slots or acquiring smaller companies with cash flow and/or credit shortfalls," said Dahlman Rose.
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Chevron to Sell Fuels Marketing Business in Brazil to a Subsidiary of Ultrapar Participacoes
Chevron Corporation yesterday announced that two of its subsidiaries have entered into an agreement with a subsidiary of Ultrapar Participações S.A. (Ultrapar) to sell Chevron’s fuels marketing business in Brazil for approximately $730 million plus a working capital adjustment.
The final amount will vary based on exchange rate fluctuations and the actual working capital sold. Under the terms of the agreement, Ultrapar will acquire a network of approximately 2,000 service stations operating under the Texaco brand, an equity interest in associated terminal operations, and Chevron’s commercial and industrial fuels business. Other terms of the agreement were not disclosed. “The proposed sale of our retail fuels marketing operations in Brazil is consistent with our ongoing effort to concentrate downstream resources and capital on strategic global assets,” said Mike Wirth, executive vice president, Global Downstream, Chevron. “By restructuring our worldwide portfolio, we intend to reduce capital employed, deliver stronger returns and achieve more profitable growth.” Chevron Corporation is one of the world’s leading integrated energy companies, with subsidiaries that conduct business across the globe. The company’s success is driven by the ingenuity and commitment of approximately 59,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops and commercializes the energy resources of the future, including biofuels and other renewables.
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The final amount will vary based on exchange rate fluctuations and the actual working capital sold. Under the terms of the agreement, Ultrapar will acquire a network of approximately 2,000 service stations operating under the Texaco brand, an equity interest in associated terminal operations, and Chevron’s commercial and industrial fuels business. Other terms of the agreement were not disclosed. “The proposed sale of our retail fuels marketing operations in Brazil is consistent with our ongoing effort to concentrate downstream resources and capital on strategic global assets,” said Mike Wirth, executive vice president, Global Downstream, Chevron. “By restructuring our worldwide portfolio, we intend to reduce capital employed, deliver stronger returns and achieve more profitable growth.” Chevron Corporation is one of the world’s leading integrated energy companies, with subsidiaries that conduct business across the globe. The company’s success is driven by the ingenuity and commitment of approximately 59,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops and commercializes the energy resources of the future, including biofuels and other renewables.
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Saturday, August 16, 2008
Singapore crosses one billion shipping tonnage mark early
The Singapore maritime industry has crossed the one billion gross tons shipping tonnage mark way ahead than usual, judged against previous years.
In terms of timescale, the mark was achieved four months ahead compared to four years ago when the shipping tonnage surpassed the billionth figure in December in 2004. The vessel which had the honour of crossing the one billion mark was APL Australia, a container ship of 50,243 gross tons (GT). It arrived at the port yesterday at 1025hrs. Said Capt M Segar, Group Director (Hub Port), Maritime and Port Authority of Singapore, “Over the past few years, vessel arrivals in terms of shipping tonnage have registered double-digit increase. This new high in terms of timescale for the one billion breakthrough signals that 2008 may very well be another record breaking year for the Singapore port. All these achievements are possible because of the efforts put in by our port and maritime community in ensuring that Singapore port continues to add value and provide quality services to the global shipping community.”
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In terms of timescale, the mark was achieved four months ahead compared to four years ago when the shipping tonnage surpassed the billionth figure in December in 2004. The vessel which had the honour of crossing the one billion mark was APL Australia, a container ship of 50,243 gross tons (GT). It arrived at the port yesterday at 1025hrs. Said Capt M Segar, Group Director (Hub Port), Maritime and Port Authority of Singapore, “Over the past few years, vessel arrivals in terms of shipping tonnage have registered double-digit increase. This new high in terms of timescale for the one billion breakthrough signals that 2008 may very well be another record breaking year for the Singapore port. All these achievements are possible because of the efforts put in by our port and maritime community in ensuring that Singapore port continues to add value and provide quality services to the global shipping community.”
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Polaris Shipping buys $40.8m VLCC
Seoul: South Korean ship owner, Polaris Shipping has agreed to pay $40.8m for a 1990-built 261,343 dwt single hull tanker Titan Pisces is due to be delivered by current owner Hong Kong’s Titan Petrochemicals in the next four weeks.
The vessel, the sixth VLCC acquired by Polaris Shipping since last year, is likely to be converted into a very large ore carrier for long term charter to Pohang Steel and Steel Company (Posco). Commenting on the sale, Titan Petrochemicals chairman Tsoi Tin Chun said the company is continuing to reduce its exposure in the volatile VLCC market where prospects are poor. “The sale represents a good opportunity to enable the group to realise the value in the Vessel and the cash flow generated will be available for deployment for the benefit of the group,” he added.
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The vessel, the sixth VLCC acquired by Polaris Shipping since last year, is likely to be converted into a very large ore carrier for long term charter to Pohang Steel and Steel Company (Posco). Commenting on the sale, Titan Petrochemicals chairman Tsoi Tin Chun said the company is continuing to reduce its exposure in the volatile VLCC market where prospects are poor. “The sale represents a good opportunity to enable the group to realise the value in the Vessel and the cash flow generated will be available for deployment for the benefit of the group,” he added.
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New container service from CMA CGM and CSCL starts in Hamburg
A new container service connecting Northern Europe with China and Malaysia has been launched recently.
On August 5, the ‘CSCL Long Beach’ arrived the HHLA Container Termina Burcharkai, Germany. On the occasion of the first arrival of the service, the Head of the Hamburg Nautical Centre, Uwe Claassen, together with Niels Harnack, Managing Director CSCL Hamburg and Bengt van Beuningen (Port of Hamburg Marketing) gave the captain of the ‘CSCL Long Beach’, R Nayyar, the Hamburg Admiralty Coat of Arms. This new joint service of the French-Asia-Line 4 (FAL-4) / Asia-Europe-Express- Service 8 (AEX-8) was launched by French shipping company CMA CGM and China Shipping Container Line (CSCL). FAL-4 / AEX-8 are each deploying four ships from the partner shipping companies, each with a capacity of approximately 9,600TEU. From the AEX-1, CSCL is relocating the ‘CSCL Long Beach’, ‘Xin Hong Kong’, ‘Xin Beijing’ and ‘CSCL Le Harve’. Meanwhile CMA CGM is contributing the newbuild ‘CMA CGM Orfeo’, ‘CMA CGM Pelleas’, ‘CMA CGM Butterfly’ and the ‘CMA CGM Ivanhoe’. The port rotation in the Far East is as follows: Shanghai – Xiamen -Yantian (Shenzhen) - Nansha (Guangzhou) - Port Kelang, from where the service will proceed directly to Zeebrugge and Hamburg. It then returns to Shanghai via Rotterdam. The transit time to Hamburg as of Shanghai in a westward direction is 28 days and only 19 days as of Port Kelang. Due to the vicinity of the important industry and trade location of Guangzhou in the South China Pearl River Delta, considerable cargo volumes are expected right from the start of Nansha port. The low number of ports of call makes it possible for the ships to have a fuel-saving cruising speed with a roundtrip time of 56 days.
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On August 5, the ‘CSCL Long Beach’ arrived the HHLA Container Termina Burcharkai, Germany. On the occasion of the first arrival of the service, the Head of the Hamburg Nautical Centre, Uwe Claassen, together with Niels Harnack, Managing Director CSCL Hamburg and Bengt van Beuningen (Port of Hamburg Marketing) gave the captain of the ‘CSCL Long Beach’, R Nayyar, the Hamburg Admiralty Coat of Arms. This new joint service of the French-Asia-Line 4 (FAL-4) / Asia-Europe-Express- Service 8 (AEX-8) was launched by French shipping company CMA CGM and China Shipping Container Line (CSCL). FAL-4 / AEX-8 are each deploying four ships from the partner shipping companies, each with a capacity of approximately 9,600TEU. From the AEX-1, CSCL is relocating the ‘CSCL Long Beach’, ‘Xin Hong Kong’, ‘Xin Beijing’ and ‘CSCL Le Harve’. Meanwhile CMA CGM is contributing the newbuild ‘CMA CGM Orfeo’, ‘CMA CGM Pelleas’, ‘CMA CGM Butterfly’ and the ‘CMA CGM Ivanhoe’. The port rotation in the Far East is as follows: Shanghai – Xiamen -Yantian (Shenzhen) - Nansha (Guangzhou) - Port Kelang, from where the service will proceed directly to Zeebrugge and Hamburg. It then returns to Shanghai via Rotterdam. The transit time to Hamburg as of Shanghai in a westward direction is 28 days and only 19 days as of Port Kelang. Due to the vicinity of the important industry and trade location of Guangzhou in the South China Pearl River Delta, considerable cargo volumes are expected right from the start of Nansha port. The low number of ports of call makes it possible for the ships to have a fuel-saving cruising speed with a roundtrip time of 56 days.
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