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New Annual Benchmark Report On Demurrage & Detention 2022: Top 5 Most Expensive Ports In The World All Located In The U.S.

Demurrage and Detention (D&D) charges imposed on the US shippers by container lines continue to be the most expensive in the world and have increased this year even as global average fees have fallen from the record highs of 2021, according to Container xChange, the world’s leading online platform for the leasing and trading of shipping containers. Container xChange’s Demurrage & Detention Benchmark 2022 report, published today, ranks the most expensive global ports for D&D charges (see definitions below) levied by container lines on customers two weeks after a cargo ...

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Private investment in ports: more than money

Private investments in all sectors of the economy have proven to be not only important but also critical to the success of many projects. This is also the case in the port sector. Private port companies and seaport terminals have injected several billion Euros to enhance European ports’ attractiveness and their competitiveness. These investments concern superstructure i.e., equipment as well as training, intermodal solutions, and all initiatives that optimize operations in ports. The building, management and maintenance of infrastructure including alternative fuels infrastructure are the responsibility of the Member States ...

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Maritime Minister Addresses PSS Membership Conference

Port Skills and Safety (PSS) has welcomed the start of Maritime Safety Week 2022, which seeks to promote the sharing of knowledge and experience of maritime safety across the UK. PSS have launched the week with a high-level members’ conference on 5 July at Victory Services Club London. Maritime Minister Robert Courts addressed the conference on the importance of working in partnership to ensure the highest standards in maritime safety. Maritime Minister, Robert Courts, said: “Ports and their workers play a crucial role in our country and are essential for ...

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Sime Darby’s port divestment expected, in line with portfolio rebalancing, says AmInvestment

The divestment of the Weifang Port business is not unexpected and is in line with Sime Darby Bhd’s portfolio rebalancing, according to AmInvestment Bank Bhd. In a note on Tuesday (July 5), the research house said it is generally neutral on Sime Darby’s divestment and maintained its “buy” call on the stock with a lower target price of RM2.88, from RM2.90 previously, based on the disposal proceeds and rolling forward its valuation base year to the next financial year ending June 30, 2023 (FY23). “The group has been monetising its ...

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HOT PORT NEWS from GAC

Port operations during Eid-Al-Adha 05 Jul 2022, Sohar, Oman During the Eid Al-Adha official holiday from Friday 8 July to Tuesday 12 July, Sohar Industrial Port Company will continue operations on an overtime basis. Read more » Removal of exclusive mandate for ship agency services 05 Jul 2022, Tanzania The Tanzanian government port agent TASAC has been excluded from performing the exclusive mandate functions in shipping agency services. Read more » Priority berthing for wheat vessels withdrawn 05 Jul 2022, Deendayal, India Priority berthing arrangements for wheat vessels at the ...

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There’s a massive pile-up of car, furniture exports bound for U.S. and it’s spreading across European ports

Labor slowdowns and strikes at the German and Netherland ports are creating a massive pile-up of export containers bound for the U.S. that will take months to clear out. According to the bills of lading found through ImportGenius, some of the items that are exported out of these ports are critical components to the auto sector like lithium batteries, fully assembled automobiles, as well as a wide variety of auto parts, and chassis. Mercedes, BMW, and Ford were listed in recent U.S. Customs filings. “U.S. importers need to look four ...

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New Vado Express Service to shorten transit times between Asia and Northern Italy

The new Vado Express feeder service will connect Port Said East, located on the Suez Canal where it meets the Mediterranean Sea, and Vado Gateway, at the Port of Genoa, one of the most significant and busiest ports in Italy. The new service will reduce transit times and alleviate congestion while offering higher flexibility in current challenging times. The first vessel from Maersk’s new service (3000 TEUs) will depart from the Suez Canal Container Terminal (SCCT) on the east bound lane of the Suez Canal, on July 8th and will ...

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What Ocean Shipping Reform Act 2022 (OSRA) means for Container Shipping Industry?

On Thursday, June 16, 2022, the 46th President of the United States, Joseph Biden, signed into law S. 3580, the Ocean Shipping Reform Act of 2022 (hereinafter OSRA 2022). The OSRA 2022 legislation has caused a stir in the container shipping industry. After reviewing the content of the document, experts from the cargo analytical and consulting firm Informall BG based in Ukraine decided to share their opinion on the newly introduced act, as well as assess the impact of OSRA 2022 on the industry. The objectives of the OSRA Act ...

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Egypt’s Suez Canal revenue up 20.7 pct in 2021/22 to $7 bln

Egypt’s Suez Canal recorded $7 billion in revenue for the fiscal year 2021/22, up 20.7 percent from a year earlier, Suez Canal Authority Chairman Osama Rabea said in a statement on Monday. Egypt’s fiscal year runs from July 1 to June 30. The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main sources of foreign currency. Source: Reuters

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Europe’s Ports And Terminal Operators Call For Ops Where It Makes Sense In Afir And Fueleu Maritime

The European Sea Ports Organisation (ESPO) and the Federation of European Private Port Companies and Terminals (FEPORT) have jointly agreed that the proposals for an Alternative Fuels Infrastructure Regulation (AFIR) and the FuelEU Maritime Regulation should enable the deployment of OPS where it makes the most sense. The greening of shipping is a priority for European port stakeholders. This entails addressing emissions from shipping both during navigation and at berth. Onshore power supply (OPS), also known as shore-side electricity, is one of the technologies available to help reduce greenhouse gas ...

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The Port of Valencia analyses the logistical and environmental benefits of short sea shipping

The Clock Building of the Port of Valencia will host next Wednesday 6 July the conference ‘Short Sea Shipping in the Port of Valencia: A competitive, innovative and environmentally responsible option’ in which experts from the maritime-port sector will analyse the logistical and environmental benefits of short sea shipping. The event is organised by the Spanish Association for the Promotion of Short Sea Shipping SPC Spain in collaboration with the Port Authority of Valencia (PAV). The conference will be inaugurated by the president of the PAV, Aurelio Martínez, and will ...

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Fujairah Benefits From Uptick In Russian Crude Transiting To The Bunkering, Storage Hub

The port of Fujairah on the UAE’s east coast is benefitting from an uptick in Russian crude transiting through the facility on its way to Asia, the port’s managing director said June 30, as Moscow sells more oil to countries, such as India and China. “Russian crude has started to transit at the port because its market has changed,” Captain Mousa Murad told S&P Global Commodity Insights in an interview in Fujairah. “Some of the crude is being stored before it goes to the Asian market, India mainly. This is ...

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Behind the Scenes of the Expansion: Bolstering Gender Equality at the Panama Canal

A few days ago, the Panama Canal celebrated the sixth anniversary of the Neopanamax Locks, which were inaugurated on June 26, 2016. The wider set of locks was constructed as part of the Panama Canal Expansion, the largest enhancement project in the waterway’s history, which created a third lane for traffic and doubled its cargo capacity. Along with advancing worldwide trade, furthering the local and global economy, and reducing shipping emissions, the Expansion also had an overlooked outcome—bolstering gender equality. Ilya Espino de Marotta, Panama Canal’s current Deputy Administrator and ...

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HOT PORT NEWS from GAC

Withdrawal of oil jetties for dredging 04 Jul 2022, Deendayal, India Oil jetties No.2 & 3 shall be withdrawn for dredging work from 5 to 9 July. Read more » Temporary reopening of waterway 04 Jul 2022, Corinth Canal, Greece The Corinth Canal will reopen temporarily for three months from today (4 July) to accommodate summer maritime traffic. Read more » Operations during Sacrifice holiday 04 Jul 2022, Turkey Official institutions in Turkey will be closed from 12:00 hours local time on 8 July until 18 July due to the ...

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China’s rail freight volume up 5.5 pct in H1

China’s rail cargo volume, a key indicator of economic activities, rose 5.5 percent year on year in the first half of 2022, said the China State Railway Group Co., Ltd. (China Railway) on Saturday. A total of 1.95 billion tonnes of cargo was transported through China’s railways during this period, 102 million tonnes more than that in the same period last year, according to the company. Coal used for power generation carried via railways totaled 690 million tonnes, up 9.1 percent year on year. During the first half of the ...

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