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The Singapore Exchange (SGX) is in exclusive talks to buy London’s Baltic Exchange, which has been at the heart of the global shipping industry for centuries, the two companies said on Wednesday. Founded in 1744, the Baltic Exchange is no longer a forum for chartering vessels but owns benchmark indexes for global shipping rates and… Read More
Union Shipping Minister Nitin Gadkari has set an ambitious target of capacity addition at 12 major ports by 120 million tonnes in 2016-17. These ports had added the highest-ever capacity of 94 million tonnes in 2015-16. Mr. Gadkari has asked shipping ministry officials to aim for awarding new projects to add capacity of 180 million… Read More
A new report by the Organisation for Economic Cooperation and Development predicts that trade in developing economies will grow around 1.5 times quicker than in developed economies. The report Capacity to Grow: Transport Infrastructure Needs for Future Trade Growth states that hinterland connections will face the largest capacity challenges. These will be strained in Asia… Read More
South Korean observers are increasingly concerned that Hyundai Merchant Marine (HMM) will enter court receivership in coming weeks. Government officials have said that they are neither “optimistic nor pessimistic” about the possibility of HMM meeting a requirement for charter rate reductions. HMM has been under pressure from financial regulators and from its creditors to achieve… Read More
A century after transforming global markets, the Panama Canal is about to redraw world trade once again. Nine years of construction work, at a cost of more than $5 billion, have equipped the canal with a third set of locks and deeper navigation channels, crucial improvements that will double the isthmus’s capacity for carrying cargo… Read More
EBITDA – The Misleading Truth I sailed the seven seas in many vessels be they Container, Tankers or Dry Cargo one of my first voyages as a cadet in 1970 was in the 21 year old vessel pictured. (As a reward to those that read through I will give the name at the end of… Read More
The EuroDredger450, a Cutter Suction Dredger with a discharge pipe diameter of 450mm built in the Netherlands, has been successfully launched and is now available for delivery. The Euro Dredger 450 is the first Cutter Suction Dredger resulting from the partnership between Dredge Yard and Neptune Shipyards in The Netherlands. Both companies joined forces to… Read More
Legislation slowly winding its way through Congress would fund long-awaited improvements to the nation’s aging waterways infrastructure, including replacement of three locks on the upper Ohio River. First, though, the Army Corps of Engineers has to finalize its Upper Ohio Navigation Study, which is 13 years and $17 million in the making. That should be… Read More
The Calcasieu Ship Channel drives Southwest Louisiana’s oil, gas and chemical industries. That means it drives Southwest Louisiana’s economy, said Port of Lake Charles Director Bill Rase. “Our area has over $40 billion in projects under construction to date — I don’t think a lot of people recognize that — and there’s a lot more… Read More
Bigger ships and more cargo flowing through the ports of Philadelphia and South Jersey should mean more jobs and greater economic activity when the Delaware River deepening project is completed next year, but the benefits may not be a slam-dunk for the region as expected. Fierce competition from other East Coast ports for an expected… Read More
A family-run business based in Sunderland has been tasked with manufacturing the largest ever excavator buckets to come out of the UK, in deals worth almost £2m. In November last year, Hi-Spec Manufacturing – a division of Birtley’s MST Parts Group – secured a £1.6m contract with a leading dredging company requiring four buckets for… Read More
On January 26, 2016, the 164-meter-long Ro-Ro Modern Express lost stability in heavy weather and was drifting towards the French coast in the Bay of Biscay. A team of dedicated salvage experts from SMIT Salvage were on the scene within 24 hours and were able to prevent an environmental disaster from taking place. This video… Read More
Most of the world’s ports require dredging works, be they capital dredging to enlarge and deepen access channels, turning basins and depth alongside or maintenance works to maintain these hard won margins for navigational safety. Dredging also provides sand and gravel for the creation of land for new port developments, such as the recently completed… Read More
For the third time since the oil discovery in Ghana, Takoradi Port has recorded more vessel calls than Tema Port, providing a rationale for the ongoing €357 million-dollar expansion project there. The port recorded 1,525 vessel calls in 2015 as against 1,514 calls at Tema Port, due mainly to the increasing number of vessels servicing the… Read More