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Singapore fuel oil inventories at 4-month peak as net imports jump

A jump in net import volumes helped lift Singapore residual fuel oil inventories to their highest in more than four months in the week ended April 14, up 1.4% on-week and notching the third straight weekly gain, official data showed on Thursday. Onshore fuel oil stocks climbed by 337,000 barrels, or about 53,000 tonnes, to 23.958 million barrels, or 3.773 million tonnes, Enterprise Singapore data showed. Compared with last year, Singapore’s residual fuel stocks were 2% lower in the week ended Wednesday. A surge in arbitrage flows into the Singapore ...

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CLSA gives ‘Outperform’ rating for Adani Ports despite the Yangon container terminal controversy

Brokerage firm CLSA has an ‘Outperform’ rating for Adani Ports. As per the brokerage, because of the Yangon container terminal (YCT) controversy the company has got reputational risks, such as its removal from the Dow Jones sustainability indices (DJSI) and Environmental, Social and Governance (ESG) funds. It has set a price target of Rs 770 for the stock. The brokerage note mentions that the “investor attention shall increase on companies involved in Myanmar such as Adani Ports following the coup by the army and human rights violations.” The firm has ...

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Ship Logjam at California Ports Is Easing After March Import Deluge

A monthslong logjam of cargo ships at Southern California’s ports appears to be easing even as imports continue to flood the major U.S. trade gateway. “We are making progress,” Port of Los Angeles Executive Director Gene Seroka said Wednesday. “Today we have half the number of anchorage ships that we reported at the peak in February.” The shipping traffic jam, part of a broader gridlock in supply chains around the world amid disruptions from the coronavirus pandemic, is thinning while record cargo volumes are landing in the U.S. The ports ...

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Fugro’s vulnerability assessment informs Port of San Francisco’s safe and sustainable future

Fugro has completed a geotechnical site characterisation, earthquake hazard and geotechnical vulnerability assessment for the Port of San Francisco’s multi-year, multi-billion dollar Waterfront Resilience Program. The work was conducted over a period of 3 years as part of a multi-hazard risk assessment (MHRA) to identify immediate and long-term hazards, such as those associated with earthquakes, flooding and sea-level rise. As the port’s lead geotechnical engineer for future programme phases, Fugro will use the MHRA inputs to develop and design optimal retrofit solutions for the port’s ageing seawall. The 5 km ...

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Port of Los Angeles notches busiest first quarter on record

The Port of Los Angeles concluded the busiest March and Q1 on record, handling nearly 2.6 million TEU in the three months through March 2021. The port moved 957,599 twenty-foot equivalent units (TEUs) in March, a large increase over the 449,568 TEUs moved during the same month last year at the onset of the pandemic, the port said April 14. March was also the third busiest month on record for the port. “The consumer spending surge continues unabated, with more of us vaccinated, businesses opening, economic outlook looks strong,” said ...

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In Double Digits: Port Of Sines Grows 10% In Total And 16% In Containers

The first three months of 2021 showed that the Port of Sines maintains the growth trajectory presented at the end of the previous year. In containers, the 440,645 TEU handled from January to March represented a year-on-year increase of 16%, with containerized import and export cargo reaching 104,391 TEU. The aggregate of all cargo segments amounted to almost 12 million tons handled in the first three months of the year, representing a growth of 10%, demonstrating that this port infrastructure did not register any relevant impacts following the recent crisis ...

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VCT sets ship productivity record for a Maersk vessel

Visakha Container Terminal (VCT) has set a new ship productivity record of 110 moves per hour while handling the CHX service vessel Mexico, completing a total of 2113 moves in just 19.4 hours on 8 April 2021 with an average gross crane productivity of 28.8 moves per hour. The latest achievement of 110 moves per hour exceeded the terminal’s earlier productivity record, achieved in December 2019, of 108 moves per hour. These achievements underscore the commitment of VCT to provide consistent and reliable best-in-class services to the shipping lines. With ...

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Stranded containers, jammed ports presage price rises in Israel

According to Dun & Bradstreet, imports of clothing and electrical goods are especially vulnerable to supply chain disruption. Bicycles, exercise bikes, garden pools, weights and yoga mats – just some of the products of which the stocks in Israel ran out during the coronavirus lockdowns, leading to continuing shortages. At least some of these products imported into Israel and elsewhere in containers have simply become stuck on their way. The jam is partly due to global factors, but it partly has local causes, and at present it is not clear ...

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Dealing with giant vessels: Fees on extremely large vessels can be exponentially hiked

After blocking the Suez Canal for more than a week and hugely disrupting the movement of goods by sea, the Ever Given—the monster container vessel 400 metres long and nearly 60 metres wide—was finally moved to the Great Bitter Lake for full inspection. During this period, about 100 ships of various sizes queued up on either side of the Canal, waiting for a chance to pass through. World trade took a huge beating and the ripples of this incident will continue to reverberate across the globe for some time to ...

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FUJAIRAH DATA: Oil product stocks drop after first jet fuel shipment this year

Oil product stockpiles at the Port of Fujairah on the UAE’s east coast dropped across the board, with middle distillates hitting a one-year low after the first jet fuel shipment this year. Total inventory stood at 19.087 million barrels as of April 12, down 8.1% from a week earlier and the lowest in three weeks, according to Fujairah Oil Industry Zone data provided exclusively to S&P Global Platts on April 14. Middle distillates stocks stood at 3.082 million barrels as of April 12, down 8% from a week earlier and ...

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New Industry Trends Report uncovers shifting priorities after COVID

AntwerpXL, the award-winning event dedicated to breakbulk, heavy lift and project cargo, has released its first Trends Report ahead of its return to Antwerp Expo, Belgium, on 7-9 December 2021. The report, which surveyed the opinions of senior decision makers from a range of business types across the breakbulk supply chain, includes a deep dive into the perceptions around challenges including market volatility, competition and declining profitability, as well as opportunities including investments in renewables, green shipping and offshore oil and gas. It finds that COVID has had a significant ...

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Panama Canal Authority postpones planned price hike following calls from shipping industry

The Panama Canal Authority (ACP) has announced that it will postpone price increases on canal transit fees which were due to come into effect tomorrow. The announcement follows a joint letter sent by the International Chamber of Shipping (ICS), Asian Shipowners’ Association (ASA), and European Community Shipowners’ Association (ECSA), expressing concerns over the speed of price increases that were expected to begin from 15 April 2021. The proposed changes represent a minimum cost increase per transit reservation of US$20,000 (up 57%) and a maximum cost increase of US$58,500 (up 167%) ...

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Townsville signing marks important hydrogen milestone

North Queensland’s hydrogen future and the potential of thousands of regional jobs is a step closer with an agreement between Australian energy company Origin and the Port of Townsville signed today. Premier Annastacia Palaszczuk said her Government was continuing to deliver Queensland’s plan for economic recovery from the global coronavirus pandemic. “Part of that plan is supporting regional economies to provide jobs growth in places like Townsville and North Queensland,” the Premier said. “We said we’d continue to build Queensland’s hydrogen industry and that’s exactly what we’re doing because that ...

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Georgia Ports Authority orders 28 Konecranes container cranes as larger ship traffic grows

The Georgia Ports Authority (GPA) has ordered 20 eco-efficient Konecranes Rubber Tired Gantry (RTG) cranes and 8 Konecranes Ship-to-Shore (STS) cranes for the Port of Savannah in the US. Six of the STS cranes will be the largest ever made by Konecranes. The RTG order was booked in Q1 2021, and the STS order was booked in Q4 2020. The GPA placed the order as it prepares to serve the world’s largest container vessels such as the HMM Algeciras class and Maersk’s Triple-E class, which have capacities of 24,000 TEU ...

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Savage Selects Octopi by Navis for Idaho’s First Intermodal Terminal

Octopi, part of Navis and Cargotec Corporation, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced today that Savage has selected Octopi by Navis’ cloud-based terminal operating system (TOS) for its intermodal rail terminal in Idaho. The terminal is expected to be operational by mid-year 2021 and once complete, it will be a top agricultural gateway and Idaho’s first intermodal terminal. This year, Savage has entered into an agreement with Union Pacific Railroad to construct and operate ...

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