Cochin Port will sign nine MoUs worth Rs 2,825 crore at the second Maritime India Summit 2021 to be held held on March 2-4, the government said on Wednesday. Cochin Port Trust is one of the 12 major ports in the country. “Cochin Port Trust (CoPT), one of the major port trusts in India, will sign 9 MoUs of Rs 2,825 crore (as of today) at 2nd Maritime India Summit 2021 scheduled to happen on 2nd to 4th March 2021,” Ministry of Ports, Shipping and Waterways (MoPSW) said in a ...

The Panama Canal Authority is considering seeking greater compensation for canceled bookings during peak seasonal demand periods, as it works to add a third daily reserved transit slot for LNG vessels to ease congestion, Administrator Ricaurte Vásquez Morales said in an interview. When the Canal announced in June 2018 the addition of a second daily booking slot for LNG vessels, officials said a third was expected by 2022. With the process toward that goal ongoing, the operator is weighing the importance of securing revenue to enhance its flexibility in a ...

Risavika LNG front has dropped 4% to 26.56 EUR/MWh. Asian heating demand is forecasted to drop for the next month, allowing more LNG arrivals to Northwest Europe. Given the pipeline flows staying stable, additional LNG supplies can have bearish impact on European gas prices for the front month. A different dynamics for oil product prices as they continue to rise following benchmark oil prices, a draw in inventories and refinery shutdowns in Texas. Most of the oil products has increased, except for fuel oil 3.5 which has dropped 1.1 % ...

State-run energy firms NTPC and GAIL swapped their respective shares in Ratnagiri Gas and Power (RGPPL) and Konkan LNG (KLL), effectively increasing GAIL’s shareholding in KLL to 84% while NTPC’s ownership in the 1,967 mega-watt (MW) gas-based power plant rose to 86.5%. KLL owns the liquefied natural gas (LNG) assets of the Ratnagiri project, including the five million tonne per annum (MTPA) gas import and regasification terminal in Dabhol. According to sources, there was no financial transaction involved in the share swapping. KLL was formed to own the LNG assets ...

Manchester-based tech firm SRO Solutions has signed an agreement with Belfast Harbour to provide IBM’s Maximo asset management software licences, as it looks to increase digitalisation across its operations. The city’s port is Northern Ireland’s principal logistics and distribution hub, responsible for more than two-thirds of all seaborne trade. In excess of 1.75 million people and over half a million freight vehicles pass through the port annually, while 24 million tonnes of goods are managed and carried by ferries, container ships and general cargo vessels. SRO Solutions, part of the ...

Maritime UK, the umbrella body for the maritime sector, is delighted to announce Aberdeen Harbour Board as the first industry sponsor of the Diversity in Maritime Programme. The Diversity in Maritime Programme was launched in May 2020 in response to the Department for Transport’s flagship Maritime 2050 strategy which stated “The maritime workforce of the future will be diverse. New roles, new technologies and a changing image of the sector will draw in people from all backgrounds across the entire UK.” The Diversity in Maritime programme was built on foundations ...

In a concerted effort to drive supply chain orchestration and digitalisation, PSA Corporation Ltd (PSA) and the Container Depot and Logistics Association (Singapore) (CDAS) have launched ‘SmartBooking’ – an integrated one-stop booking platform for container depots, terminals, hauliers and logistics facilities across Singapore. Supported by Enterprise Singapore (ESG), Infocomm Media Development Authority (IMDA), and Smart Nation and Digital Government Office (SNDGO), this initiative will play a major role in Singapore’s logistics ecosystem digitalisation roadmap, and is part of the National Artificial Intelligence (AI) Strategy to facilitate data exchange and enable ...

Prestigious award recognises port’s importance in economic recovery from COVID-19. The Port of Port Hedland received the coveted Port of the Year award at the 2020 Australian Shipping and Maritime Industry awards last week. The awards are an annual, independent event run by maritime publication Daily Cargo News, that recognises the best ports, organisations, services and individuals in the industry. The award acknowledged the economic importance of the port to the regional, State and national economies, and the port’s year-on-year throughput increases from 446.9Mt in 2014/15 to a record 538.2Mt ...

Approval process for crew changes Wednesday, February 24, 2021, Port Louis, Mauritius The port authorities at Port Louis have issued new guidelines with the following steps for the processing of the crew change approvals: All requests for change of crew should be made only to the Port Master at least 14 days before the operation to allow ample time for proper verification of documents and processing. Requests should not be made in a piecemeal manner and the information provided should be complete. The format of the request (giving full details) ...

After just one year of cross-border e-commerce exports, Alashankou Port in the Xinjiang Uygur autonomous region is already ranked the fourth busiest in China for such operations. More than 50 million e-commerce packages destined for Europe passed through the port by the end of last year, with the export value reaching 1.17 billion yuan ($180 million), Alashankou’s bureau of commerce and industrial information said. A sorting and customs clearance center for cross-border e-commerce was launched in the Alashankou Comprehensive Bonded Zone in January last year. It handles goods for export ...

For years, everyone has been talking about shifting traffic from road to rail. But not much has happened so far. There was a lack of approaches as to how this could be implemented. There were no actors who were willing to take a risk. And there was always a lack of time, because freight flows cannot wait. But then came the pandemic and with it the supply bottlenecks, for example in the area of supplier parts for the automotive industry. Questions quickly arose in industry and logistics about the design ...

Ports and shipping are vital for a well-functioning global economy. According to the World Bank, in 2019, trade represented more than 60 percent of the global gross domestic product (GDP). Data from The International Chamber of Shipping reveals that shipping plays by far the largest part in this, facilitating roughly 90 percent of the world’s trading. The ports of the world literally keep its goods flowing. The comprehensive report, Connected Ports: A guide to making ports smarter with private cellular technology, outlines how challenges of equipment downtime, congested port yards for loading ...

According to the World Bank, trade represented more than 60% of the global gross domestic product (GDP) in 2019. And 90% of the world’s trade is facilitated by the shipping industry, according to the International Chamber of Shipping. The vast importance of future ports to shipping makes them a vital element for the function of the global economy. According to statistics data from the United Nations Conference on Trade Development, of the four main types of shipping vessels (oil, bulk cargo, general cargo, and globally standardized containers), the container vessels ...

A California port says it is diverting cargo to other ports to ease congestion and keep the supply chain moving. Port of Los Angeles executive director, Gene Seroka, stressed the diversions are temporary. At the same time, the Federal Maritime Commission (FMC) is taking a new step to help address container congestion at US ports, including the Port of Los Angele. Speaking at the port’s media briefing on 17 February, Mr Seroka said: “In the short term, temporarily, having some cargo move through other ports so we can keep the ...

DURBAN is to be developed as a hub port for the southern hemisphere and Ngqura port in the Eastern Cape as the container terminal of choice. The plans were announced during President Cyril Ramaphosa’s State of the Nation Address two weeks ago. Further details are expected to be unveiled by Public Enterprises Minister Pravin Gordhan. Master mariner and director at Norton Rose Fulbright, Malcolm Hartwell, said the plans would have far-reaching consequences for shipping lines, logistics companies and, ultimately, consumers. Hartwell said there was no doubt Durban had faced challenges ...