New container ship docks in Quy Nhon

On Mar. 10 the port authorities at Quy Nhon port welcomed the arrival of the container ship, the Marshall Island-flagged Saylemoon Rickmers, which is the biggest vessel to dock at the port in the central province of Binh Dinh. Owned by the Mediterranean Shipping Company, one of the leading global carriers, the Saylemoon Rickmers is 196m long, 27m wide and has a deadweight of 24,279 tonnes. By making Quy Nhon a new destination, MSC has demonstrated the potential for developing freight services in the southern central region of the country and Binh Dinh province in particular./. … [Read more...]

Shippers leave others in their wake

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The globe's shipping leaders Maersk Line, MSC Mediterranean Shipping Company S.A and CMA CGM will establish an operational alliance. According to Maersk Line, the three firms have in principle agreed to establish a long-term operational alliance on East - West trades, called the P3 Network. The aim is to improve and optimise operations and service offerings. The P3 Network will operate a capacity of 2.6 million twenty-foot equivalent unit or TEU (initially 255 vessels on 29 loops) on three trade lanes including Asia - Europe, Trans-Pacific and Trans-Atlantic. While the P3 Network vessels will be operated independently by a joint vessel operating centre, the three lines will continue to have fully independent sales, marketing and customer service functions. The P3 Network will provide customers with more stable, frequent and flexible services. Each of the lines will offer more weekly sailings in their combined network than they do individually. As an example, the P3 Network plans … [Read more...]

Shipping lines form alliance to facilitate global trade

HCM CITY (VNS)— Maersk Line, the MSC Mediterranean Shipping Company and CMA CGM, have agreed to establish a long-term operational alliance on East-West trade called the P3 Network. The aim is to improve and optimise operations and service offerings. The P3 Network will serve three trade lanes: Asia-Europe, Trans-Pacific and Trans-Atlantic. The P3 Network vessels will take part in a joint vessel-operating centre. But the three lines will continue to have fully independent sales, marketing and customer service functions. Each of the lines will offer more weekly sailings in their combined network than they now do individually. For example, the P3 Network plans to offer eight weekly sailings between Asia and Northern Europe. In addition, it will offer more direct ports of call. The improved network is expected to reduce the disruptions for customers caused by cancelled sailings. The lines intend to start operation in the second quarter of 2014, but the starting date will be subject … [Read more...]

Maersk Line sets up alliance on East-West trade

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Maersk Line, the MSC Mediterranean Shipping Company and CMA CGM, have agreed to establish a long-term operational alliance on East - West trade called the P3 Network.— VNS Photo HCM CITY (Biz Hub) - Maersk Line, the MSC Mediterranean Shipping Company and CMA CGM, have agreed to establish a long-term operational alliance on East - West trade called the P3 Network. The aim is to improve and optimise operations and service offerings. The P3 Network will serve three trade lanes: Asia - Europe, Trans-Pacific and Trans-Atlantic. The P3 Network vessels will take part in a joint vessel-operating centre. But the three lines will continue to have fully independent sales, marketing and customer service functions. Each of the lines will offer more weekly sailings in their combined network than they now do individually. For example, the P3 Network plans to offer eight weekly sailings between Asia and Northern Europe. In addition, it will offer more direct ports of call. The improved network … [Read more...]

100 years after Titanic, dangers remain for cruise ships

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The Titanic was the pride of the industry when it went down off the coast of Canada on its maiden voyage a hundred years ago with the loss of 1,514 lives, a giant of a ship. Capsized cruise ship via AFP. These days, the trend is for even bigger and grander vessels, especially in the cruise line industry, but even with all the technology available to today's shipbuilders, the dangers remain. Thirty-two passengers died when the Italian luxury cruise liner Costa Concordia ran aground off the coast of Italy on January 13. And although the ship's captain has been in the firing line over his conduct, maritime union Nautilus International has warned against a rush to judgment, arguing that other factors may have played a part. The Costa disaster raised questions about whether safety considerations have kept pace with the quest for grandiose, top-of-the-range, floating leisure palaces. The accident has hit sales too: both Carnival, the company that owns Costa Cruises which ran the … [Read more...]

Ship grounded on New Zealand reef watched for signs of oil spill

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New Zealand's shipping authorities have cordoned off a Liberian-flagged container ship that has grounded on a reef off the east of the North Island as they attempt to assess whether it poses an environmental risk. The 236-meter cargo ship Rena struck the Astrolabe Reef, about 12 nautical miles off the coast near Tauranga Harbour, at around 2. 20 a.m. Wednesday and was listing, said a statement from Maritime New Zealand (MNZ). … [Read more...]

Vietnam Port Welcomes Biggest Container Ship

Cai Lan port in northeastern Quang Ninh province has just received a 40,462-ton container ship of Panama, the biggest of its kind that has arrived at the port to date. The MSC PEGY of 207 meters in length and 32.24 meters in width, belongs to the Mediterranean Shipping Company - the world's second largest shipping line in terms of container transport capacity. The Cai Lan International Container Port Co. Ltd has poured US$103 million into a project to upgrade and expand the deep-water Cai Lan port. The firm will build and operate three wharves No. 2, 3 and 4 at Cai Lan Port under the two-phase project which is scheduled for completion in 2014. In the first phase of 2008-2011, Cai Lan company will build over 300 meters of wharves and supporting facilities. The port is expected to stevedore 760,000 TEUs of cargo and severe vessels of 40,000 tons in 2017. (Labor, Capital Security) … [Read more...]

Cai Lan port receives biggest container vessel

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Cai Lan port in the northeastern province of Quang Ninh received a 40,462-tonne container ship on May 3, the biggest of its kind that has docked in the port so far. The MSC PEGY carrying the Panama flag is 207m long and 32.24m wide. It belongs to the Mediterranean Shipping Company - the world's second largest shipping line with regard to container transport capacity. The Cai Lan International Container Port Co. Ltd has spent US$103 million upgrading and expanding the deep-water Cai Lan port for the goal of handling 760,000 in 2017. (one TEUS equivalent to one 20-feet container) … [Read more...]

MSC PEGGY ship docks Cai Lan port

The Cai Lan Sea Port today, May 3 rd, received the ship "MSC PEGGY", the largest container ship to dock at the port to date. The MSC PEGGY, of Panama, has a draught of 40,472 tonnes and a capacity of 32,696 tonnes. This 207m high and 32.24m wide ship carries 1,092 "TEU's" (Twenty Foot Equivalent Units, a type of container carried by ship and then by truck) from HongKong (China) to Singapore. This is a product of the Swiss Mediterranean Shipping Company (MSC), the second largest global carrier in the world. The Cai Lan deep water sea port, which is in Quang Ninh province, was recently upgraded to receive carriers of over 40,000 tonnes. The port is expected to ship as much as 760,000 TEU's of goods by 2017. Source: LDDT Translated by Mai Huong … [Read more...]

Shipping Firms Order Free-Market USD Fee Payments

Shipping companies have said that they will not accept payments for transportation fees in VND, asking customers to pay the fees in U.S. dollars with the black market exchange rate, the Vietnam News newspaper reported June 15.

Mediterranean Shipping Company S.A (MSC) on June 5 asked Vietnamese companies to make payments for shipping fees and other surcharges in dollars at the black market exchange rate. It also informed them that it would stop accepting payments in VND immediately as the company had locked its VND account in order to avoid losses. Le Trieu Phuong, deputy general director of MSC, said that the move was just a temporary measure to help rescue the company, though it did not come in line with the current laws. Phuong showed the loss of VND3 billion for the company in May 2008 because of VND/USD exchange rate fluctuations. "If MSC continues accepting payments in VND, it will go bankrupt, as it has to pay foreign partners US$4 million a month," Phuong said, adding that MSC is facing difficulties as commercial banks are refusing to sell it dollars. It needs US$2 million to pay foreign shipping firms. Tran Huu Huynh, head of the Legal Department under the Vietnam Chamber of Commerce and … [Read more...]

Oil Clean-Up Begins For Beached Freighter Off English Coast

The abandoned British cargo ship MSC Napoli in the English channel during a heavy storm, 19 January

The 3,500 tonnes of fuel in the tanks of a British container ship beached off the southeast coast of England is the "main concern" of coastguard officials hoping to avert a long-term environmental disaster. Paul Coley, a coastguard spokesman, told AFP that authorities would begin cleaning up the 200 tonnes or so of fuel that had already leaked out into the sea at first light on Monday. "It's the main concern. It's very difficult to control -- for the moment, the fuel is still in the tanks" of the MSC Napoli, which ran aground off the coast of Branscombe, Devon, said Coley late on Sunday. "If it stays there, it is easy to remove." "We hope to start tomorrow (Monday), probably with the first light. That depends on the weather. That should last a couple days," he said. Coley said that early attempts to remove the oil leaking from the ship had failed on Sunday. The oil is dispersed over an eight kilometre (five mile) by half a kilometre area of sea, and the coastguard said that … [Read more...]

Pacific economies to achieve average growth of 9.9% in 2015

(CPV) - "Cyclone Pam and Typhoon Maysak again highlight the vulnerability of Pacific economies to disaster risks, which are the highest in the world," said Xianbin Yao, Director General of ADB’s Pacific Department. "At the same time, the first full-year of natural gas exports from Papua New Guinea (PNG), along with strong tourism activity in Fiji and Palau, are seen to sustain growth across the Pacific at close to a double-digit rate in 2015." Pacific economies are expected to achieve average growth of 9.9% in 2015, as positive external flows outweigh the impacts of recent disasters, according to ADB’s latest Pacific Economic Monitor Midyear Review, launched in Suva on July 15th 2015. Moving forward, however, weak global energy prices have increased the downside risk to the Pacific’s outlook, the report notes. While growth forecasts for PNG and Timor-Leste—the region’s largest energy exporters—are unchanged for now, downward adjustments are likely … [Read more...]

Tonga promotes renewable energy, climate change resilience

(CPV) - The Pacific Energy Update 2015 report said ADB’s investment program for Tonga includes measures to promote environmental sustainability, disaster risk management, and climate change adaptation. ADB is working with the Government of Tonga to build up the country’s resilience to natural disasters and to help it achieve the goal of providing half of all electricity from renewable energy sources by 2020, said ADB energy report. "For example, the ADB-assisted Cyclone Ian Recovery Project is helping support government efforts to upgrade and climate-proof the electricity grid network and school buildings on the northeast island of Ha’apai," said Woo Yul Lee, Energy Specialist in ADB’s Pacific Department. The report notes that Tonga, a country of about 176 islands, is one of the most vulnerable countries in the Pacific to climate change. It also stresses that 89% of the population of 102,000 receives electricity generated mainly from diesel fuel. The Outer … [Read more...]

U.N. climate deal in Paris may be graveyard for 2C goal

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Residents walk over the cracked soil of a 1.5 hectare dried up fishery at the Novaleta town in Cavite province, south of Manila May 26, 2015. Photo: Reuters The U.N.'s Paris climate conference, designed to reach a plan for curbing global warming, may instead become the graveyard for its defining goal: to stop temperatures rising more than 2 degrees Celsius above pre-industrial levels. Achieving the 2C (3.6 Fahrenheit) target has been the driving force for climate negotiators and scientists, who say it is the limit beyond which the world will suffer ever worsening floods, droughts, storms and rising seas. But six months before world leaders convene in Paris, prospects are fading for a deal that would keep average temperatures below the ceiling. Greenhouse gas emissions have reached record highs in recent years. And proposed cuts in carbon emissions from 2020 and promises to deepen them in subsequent reviews - offered by governments wary of the economic cost of shifting from fossil … [Read more...]

After Gulf incident, Iran says ship ‘damaged oil rig’

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An Iranian Navy boat during exercises in the Strait of Hormuz in 2012 A Singapore-flagged ship that allegedly came under fire from Iranian forces in the Gulf was wanted for causing $300 million in damage to an oil rig, an Iranian official said Friday. According to US officials, the Alpine Eternity was the target of warning shots from Iranian Revolutionary Guard sailors on Thursday. After hearing a radio call for help, the United Arab Emirates dispatched coastguard vessels to aid the tanker and the Iranian boats then left the area. In the first Iranian remarks since the incident, an oil official said the Alpine Eternity, operated by Norway's Transpetrol TM AS, was wanted for hitting the rig at around 3 am on March 22. "We want neighbouring countries to take the necessary cooperation on confiscation and handing over of this particular vessel," Habib Jadidi, a director of Iran's giant South Pars gas field operations, told Shana, a news outlet belonging to Iran's oil ministry. The … [Read more...]

Iran to release seized Maersk vessel after ‘debt settled’

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A.P. Moeller-Maersk says it does not employ the crew or own the vessel seized by Iran Iran will release a cargo vessel chartered by Danish shipping group A.P. Moeller-Maersk as soon as the company settles a debt stemming from a long-running business dispute, the Iranian embassy in Denmark said Thursday. "Iranian authorities reiterate that there has been absolutely no political or security intentions or considerations behind the incident," the statement said. "The seizure of the ship was solely an enforcement of a judicial court ruling resulting from a commercial dispute between two private parties," it added. Maersk said it was told by the Iranian Ports and Maritime Organisation at a meeting Wednesday that an Iranian court had ordered it to pay $3.6 million (3.2 million euros) in compensation in the case. Iran's elite Revolutionary Guards seized the Maersk Tigris on Tuesday in the strategic and highly militarised Strait of Hormuz with 24 crew members aboard. According to Iranian … [Read more...]

Solomon Islands is leading Pacific region in its successful reform of SOEs

(CPV) - The Solomon Islands is leading the Pacific region in its successful reform of state-owned enterprises (SOEs), according to an ADB report presented in Honiara on April 21st 2015. The report, Finding Balance 2014: Benchmarking the Performance of State Owned Enterprises in Island Countries, shows that in the last 5 years the Government of the Solomon Islands has overseen a 21% turnaround in return on equity from SOEs, turning an average loss of 11% between 2002-2009 into an average return of 10% in 2010-2012. This improvement follows a program of increased privatization, public-private partnerships (PPPs), financial restructuring and efforts to place SOEs on a sound commercial footing. "The outcomes the Solomon Islands has achieved—such as improved service delivery, reduced costs, and more opportunities for private investment—show what these kinds of reforms could achieve for other Pacific countries in a relatively short time," said Laure Darcy, an SOE/PPP … [Read more...]

Climate Change heightens Pacific islands’ vulnerability

(CPV) - Cyclone Pam’s devastation in Vanuatu is a tragic reminder of the acute development challenges the remote Pacific islands nations face and the need for resolute support from ADB and other partners to help them better withstand economic shocks, natural disasters, and climate change. Indeed, geographical isolation, small populations, and paucity of resources—as well as extreme vulnerability to climate change—call for a very different approach to development in the Pacific, says the newly released Independent Evaluation study, ADB Support to Small Pacific Island Countries. "The category five cyclone that devastated Vanuatu could well be the new norm," said Vinod Thomas, Director General of Independent Evaluation at ADB. "Pacific countries are extremely exposed to climate change, but have the least resilience to adapt. ADB, with other development partners in the region, must meet this issue with a sense of great urgency," he said. Many are calling Cyclone Pam, … [Read more...]

Fiji secures a stronger financial sector through secured transaction reform

(CPV) –ADB is deepening its re-engagement with Fiji, partnering with the government to improve access to credit and to secure a stronger financial sector through secured transactions reform. Following meetings in January with Fiji’s Attorney-General and Minister for Finance Mr. Aiyaz Sayed-Khaiyum, ADB will assist the new Secured Transactions Reform Taskforce which held its inaugural meeting here on February 26th 2015. The taskforce, which ADB will assist, brings together representatives from banks, credit unions, microfinance institutions, community groups and government agencies and will be chaired by the Governor of the Reserve Bank of Fiji, Barry Whiteside. It will provide government with a roadmap to implement secured transactions through new laws and the establishment of public online registries. "ADB is encouraged by Fiji’s decision to embrace these reforms and is excited to be assisting in their implementation," said Andrea Iffland, Regional Director of … [Read more...]