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GC Rieber Shipping has entered into a ship management contract with Statnett Transport AS (Statnett) for technical management of Statnett’s ro-ro vessels Elektron and Elektron II. The contract has a duration of three years plus options. The vessels are mainly used for subsea works and transport of transformers, generators and turbines to Norwegian energy plants. Source: GC Rieber Shipping

Maritime technology startup CargoMate Technologies has today announced they will begin operating under a new name; Intelligent Cargo Systems. The two-year-old startup, which develops port call optimisation technology, is launching the new brand to better serve their strategic objective of improving the flow of cargo around the world. “What started as a digital logbook to improve the lives of seafarers, has become a sophisticated analytics solution which gives stakeholders real-time visibility of port operations and tracks the performance of container terminals worldwide,” says Emma Mark, Marketing Manager at Intelligent Cargo ...

Growing demand for professional shipping services from the offshore oil & gas industry has prompted GAC to open an office in Uruguay. The new office continues 2018’s expansion of the Group’s Americas region with the opening of GAC Brazil’s office in Fortaleza, and the establishment of GAC Panama. Geographically, Uruguay is located along the East Coast of South America (ECSA), making GAC Uruguay an ideal next step for the Group. Bob Bandos, GAC Group Vice President – Americas, says: “With the opening of GAC Uruguay, we are better positioned on ...

Damen and High Speed Transfers Ltd (HST) have signed a contract for a third FCS 2710 fast crew supply vessel, for delivery in September this year. The FCS 2710 is the replacement for Damen’s highly successful FCS 2610 and was first shown to the world in July 2018 with HST as the lead customer. Effectively a complete redesign bringing with it a range of new capabilities and features, the FCS 2710 is capable of carrying twice as many passengers – 26 – as its predecessor and is also able to ...

The International Association of Ports and Harbors (IAPH) is the world’s leading peak body representing the interests of Port Authorities and associated maritime industries. The Association has 166 Member Ports plus 137 Associate Members in some 90 countries. The organization has been serving its members for over 60 years through the sharing of information, and the work of its Technical Committees. In addition, the Association holds regular Regional and World Conferences which are highly regarded and well attended. Articles 23 to 31 of the IAPH Constitution stipulate that the management ...

Subic Bay International Terminal Corp. (SBITC), a subsidiary of International Container Terminal Services, Inc. (ICTSI) operating the New Container Terminals 1 and 2 at the Subic Bay Freeport, capped 2018 with a milestone after reaching its 200,000th twenty-foot equivalent unit (TEU) move last 23 December. The event was marked by the offloading of a milestone CMA CGM steel box from MV Sinar Sangir. “We are proud of reaching this latest milestone. More than hitting our targets, this new record highlights Subic Bay International Terminal’s capability to continuously outpace market growth, ...

Coal import from India’s Meghalaya state to Bangladesh has stopped following an order of the Supreme Court in the neighbouring country. The coal import was supposed to continue till January 31 but came to a halt suddenly on January 15, according to Paritosh Ghosh, assistant director for traffic at Tamabil land port. “This has created a huge trouble for the coal importers.” The SC of India on Tuesday banned the transportation of coal in the state until the next hearing on February 19. Bangladesh imports coal from India through Barchhara, ...

South Korea received on Saturday its first Iranian oil cargo in four months, data on Refinitiv Eikon showed on Monday. NITC tanker Silvia 1 discharged close to 1 million barrels of condensate, a light oil typically produced in association with natural gas, on Jan. 19 at Incheon port, it showed. Another NITC tanker Sana carrying the same volume of condensate is expected to arrive in South Korea on Jan. 31, according to Refinitiv data. The cargo marks the first Iranian oil import by South Korea in four months after the ...

China’s December coal output climbed 2.1 percent from the year before, government data showed, hitting the highest level in over three years as major miners ramped up production amid robust winter demand and after the country started up new mines. Miners produced 320.38 million tonnes of coal in December, according to data released on Monday by the National Bureau of Statistics. That is the largest volume since June, 2015. China approved more than 45 billion yuan’s ($6.64 billion)worth of new coal mining projects last year, much more than 2017, official ...

Iran’s gas output has risen 35 percent compared with 2012, the oil minister said on Monday. “In the first ten months of the (Iranian) year (starting from March), Iran produced on average 840 million cubic metres of gas a day, showing a 35 percent increase compared with 2012,” Bijan Zanganeh was quoted by the oil ministry’s news agency SHANA as saying. Zanganeh also said that Iran’s gas production from South Pars, the world’s largest gas field, has reached 600 million cubic metres a day. The offshore field, which Iran calls ...

The pound may advance against all its Group-of-10 peers this year as the risk of a no-deal Brexit has been declining, according to Goldman Sachs Group Inc. Sterling has strengthened for five straight weeks as the defeat of Prime Minister Theresa May’s Brexit plan last Tuesday was seen boosting the prospects of a second referendum that may result in the U.K. staying in the European Union. The premier is expected to present a new proposal to Parliament Monday. “We would read the developments over the last week as pointing toward ...

Corporate overseas investment will likely rebound this year as U.S. companies repatriate less profits, but will nonetheless continue to be weak by precrisis standards in the face of a darkening economic outlook and uncertainties about trade rules, the United Nations said Monday. The U.N. Conference on Trade and Development said global business investment flows fell sharply in 2018, to $1.2 trillion from $1.47 trillion in 2017. But it said most of that decline was due to U.S. companies sending profits back home in response to changes in the country’s tax ...

China has a grand plan to rebalance its economy by reducing its dependence on state-led investment and exports in favour of increased consumer spending. But after disappointing retail sales figures in recent months and a sharp rise in household debt, questions are being asked about the feasibility of Beijing’s ambitions. According to the National Bureau of Statistics, in the first 11 months of 2018, retail sales – a measure of consumer spending that also includes government purchases – rose 9.1 per cent year on year to 34.5 trillion yuan (US$5.09 ...

China has ample room for macro policy support, Ning Jizhe, head of the National Bureau of Statistics said on Monday, after the world’s second-largest economy grew at the slowest pace since the global financial crisis in the fourth quarter of 2018. China has confidence and the capacity to achieve reasonable growth this year, Ning said, adding that the slowing economy has shown some signs of stabilization over the past two months. Ning said that while the China-U.S. trade war has affected China’s economy the impact on growth is manageable. China’s ...

The dramatic and sharp contraction of China’s exports and imports last month has not only confirmed the downward trend of the Chinese economy, but also further raised the risks to its growth prospects amid the uncertainty over a possible full-blown trade war. China’s export growth in US dollar terms tumbled 4.4 per cent year on year in December, from 3.9 per cent growth in November and 14.3 per cent the month before. Meanwhile, imports fell 7.6 per cent from 2.9 per cent growth in November and 20.3 per cent in ...