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CEVA Logistics and CMA CGM have combined their expertise and service capabilities in Thailand and Laos to launch a new cross-border service for ocean freight containers used by customers across both countries. The new service provides imaginative solutions for both import and export customers and helps them reduce their carbon footprint as empty containers no longer have to be returned to their origin. A new environmentally friendly solution bringing the best of CMA CGM and CEVA’s expertise. The new combined ocean freight and cross-border trucking service enables importers to drop ...

Jumbo is proud to announce the contract award for the transportation and installation of wind turbine generator (WTG) substructures at the Yunlin Offshore Wind Farm (OWF) in Taiwan. Jumbo was awarded the contract earlier this year by Yunneng Windpower Co., a Taiwanese subsidiary of wpd AG. Jumbo’s scope comprises the transportation of 40 monopiles, 120 monopile sections and 40 transition pieces (TP’s), as well as the offshore installation of 80 TP’s. Preparation and planning works have already begun, with the first transportation commencing in Q4 2019, and installation scheduled to ...

Indonesia: Robbers steal ships properties in Taboneo Anchorage 19 February According to late reports, duty crew onboard an anchored bulk carrier in Taboneo Anchorage noticed the forecastle store door broken into and ships properties missing at 2145 hrs local time while carrying out routine rounds. The incident was reported to Taboneo Port Control. Marine police boarded the vessel to investigate and collect evidence. It is likely that the vessel was targeted by robbers while in the anchorage. PVI Analysis: Robberies are commonly reported at Indonesian anchorages, particularly overnight when assailants ...

On 1st of April 2019, Damen Marine Components (DMC) acquired the assets of WK Hydraulics, a specialist maritime hydraulics systems manufacturer located in Barendrecht, the Netherlands. DMC and WK Hydraulics already overlap in areas such as steering gear and hydraulic power units, however WK Hydraulics also brings particular experience in the building of larger, customised hydraulic systems for winches, cranes, bow thrusters and other applications. Damen Marine Components (DMC) acquired the assets of WK Hydraulics, a specialist maritime hydraulics systems manufacturer located in Barendrecht, the Netherlands The WK Hydraulics product ...

The Maritime and Coastguard Agency (MCA) announced that four foreign flagged ships remained under detention in UK ports during May 2019 after failing port state control (PSC) inspection. During May, there were three new detentions of foreign flagged vessels in a UK port. In response to one of the recommendations of Lord Donaldson’s inquiry into the prevention of pollution from merchant shipping, and in compliance with the EU Directive on Port State Control (2009/16/EC as amended), the Maritime and Coastguard agency (MCA) publishes details of the foreign flagged vessels detained ...

Taiwan’s CPC Corp. said it will lift its first LNG cargo from the Shell-operated Prelude FLNG facility offshore Australia in end-October, according to a statement posted on the company’s official website. CPC’s cargo will be under its 5% equity stake in the project, through its subsidiary Overseas Petroleum and Investment Corp., or OPIC. Shell is the majority stakeholder in Prelude with a 67.5% stake, Japanese explorer Inpex has a 17.5% stake and South Korea’s Kogas has 10%. Shell on Tuesday said it has shipped the maiden LNG cargo from the ...

Polish Oil and Gas Company (PGNiG) signed an agreement with U.S. company Venture Global LNG to buy 1.5 million metric tons of liquefied natural gas per year, as the country seeks alternative supplies of gas than Russia. Under the agreement, the volume of the fuel from Venture Global’s Plaquemines terminal – which is being built south of New Orleans, Louisiana – to PGNiG will increase from 1 million tons to 2.5 million tons of LNG. Shipments are expected to start in 2023. The agreement raises PGNiG’s total commitment with Venture ...

IDX Insights, a research & development firm, announces the launch of its first of a series of tactical Commodity ETN indices utilizing the Barclays iPath Commodity ETNs. The IDX Tactical Long/Flat Commodity Index is designed to provide diversified exposure across the 7 iPath sector commodity ETNs with the ability to allocate 100% to a “cash-substitute” ETF. The index uses IDX’s proprietary “Composite Momentum” score to evaluate each sector ETN monthly to determine which sectors to include and at what weighting. The IDX Strategic Commodity Beta Index utilizes the collective momentum ...

Chicago corn rose 1.2% on Thursday to a one-week high, while soybeans gained for a fourth consecutive session as forecasts of more rains in the U.S. Midwest threatened to stall planting. Wheat jumped to its highest since early February with prices underpinned dry weather hurting recently planted crop in Australia, typically the world's fourth-largest exporter. The most-active corn contract on the Chicago Board of Trade was up 1.2% at $4.35-1/4 a bushel, as of 0149 GMT, near the session high of $4.36 a bushel - the highest since June 4. ...

The US Energy Information Administration forecast coal production to total 699.8 million st in 2019, down 7.2% from last year’s production of about 754 million st, the EIA’s Short-Term Energy Outlook reported. June’s forecast for 2019 output was flat from May’s forecast, however the 2020 projection increased 1.2% from the previous month to almost 646 million st. This was the highest forecast for next year since the EIA projected output of about 664 million st in March. Compared with the 2019 June forecast, the 2020 forecast was down 7.8%. Coal ...

Harvesting for the winter wheat 2019-2020 crop (June-May) reached 4% in the US in the week ended June 9, down 9 percentage points year on year, mostly on the back of severe weather conditions seen in the key wheat-producing state of Oklahoma, latest data from the US Department of Agriculture showed. Wheat in Oklahoma was already planted in a smaller area than in the last marketing season. For the week ended June 9, winter wheat harvesting in the state was down 39 percentage points from the past year, at 4%, ...

Oil prices jumped as much as 4% on Thursday after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes. The Marshall Islands-flagged Front Altair carrying naphtha and the Panama-flagged Kokuka Courageous carrying methanol have been evacuated and the crews were safe, shipping sources said. The charterer of the former said the vessel was “suspected of being hit by a torpedo”. The manager of the latter said it had been damaged as a ...

Global oil prices climbed 35% in the first four months of 2019 as major producers reined in output and countries from Iran to Venezuela suffered involuntary cutbacks in supply. Yet crude has since dropped more than 10% amid concerns that demand will ebb. The main culprits: Rising shale production, a slowing global economy and the prospect of a deepening trade war between US and China. The International Monetary Fund has cut its forecast for economic growth in China – the engine of demand for commodities – to 6% next year, ...

With key crude oil benchmarks plummeting in value in recent weeks, US drivers already appear to be benefiting from cheaper gasoline and will likely continue to do so heading into the summer driving season. After being assessed at $74.69/b on May 16, Platts Dated Brent, perhaps the most important oil benchmark in the world, came crashing down and was assessed at $62.105/b on June 5, more than 16% down. Platts WTI crude oil assessments at Cushing, Oklahoma, showed a similar pattern and dropped more than 17% over the same time ...

Iran has been racing to step up exports of petrochemicals and tap new markets to compensate for sliding oil sales, Iranian and international industry sources said, but now risks losing that crucial revenue as Washington tightens the screw on sanctions. Tehran has been selling increased volumes of petrochemical products at below market rates, in countries including Brazil, China and India, since the United States reimposed sanctions on Iranian oil exports in November, according to the six sources who include two senior Iranian government officials. Available ship-tracking data also points to ...