Home / In The News / Shipping

Shipping

SHANGHAI PORT STARTS 2017 WITH A 12PC SURGE

China’s busiest port, Shanghai, handled 3.3 million TEU in January, a 12.2 percent increase compared to the container throughput in the same month last year, when volume totaled 2.94 million TEU.

Last year, Shanghai retained its crown as the world’s busiest container port, handling 37.13 million TEU, up 1.6 percent from 36.54 million TEU registered in 2015.

NEWBUILDING ORDERS PICK UP

Newbuilding contracting activity thus far in 2017 has been much more brisk than during the same period of 2016, as shipyards’ pricing has been much more aggressive, thus attracting more orders.

In its latest weekly report, it is noted that up till now the year has shown considerably better activity levels in the newbuilding front then what had been seen over the majority of 2016. It seems as though some of the aggressive pursued by shipbuilders marketing has started to pay off. The new financing structures on offer and considerable price discounts has started to attract the attention of some owners, although they are still relatively few in number.

VESSEL QUEUE AT NEWCASTLE PORT 6-WEEK LOW

The vessel queue at the Port Waratah Coal Services terminal at Newcastle port in Australia stood at three ships Sunday, down from six the week before and the shortest in five weeks.

Over the past seven weeks, it is reported a queue of more than 10 vessels in its weekly report, and that was 11.

In December, the average vessel queue was 23 ships. The queue is expected to lengthen again in the coming weeks, with HVCCC forecasting it will reach 14 by the end of the month.

Inbound receivable to PWCS totaled 3.02 million mt of coal for the week ended Sunday, down from 3.26 million mt the week before. Port Waratah coal stocks finished the week at 1.09 million mt, down 371,000 mt from the week before.

 

SHREYAS SHIPPING SOARS 20PC

Shreyas Shipping & Logistics was locked in upper circuit of 20 percent at Rs 290 on the BSE after the company reported more than three-fold jump in consolidated net profit at Rs 10.68 crore in December 2016 quarter (Q3FY17) on back of strong revenue growth.

The shipping company had profit of Rs 3 crore in the year ago quarter. Total turnover increased by 37 percent at Rs 193 crore against Rs 141 crore in the corresponding quarter of previous fiscal. The company said it continues its focus on the development of coastal trade as well as feeder services on the East coast which resulted positively.

RUSSIA STARTS DREDGING OPERATIONS IN 3 PORTS

In 2017, maintenance dredging operations are planned in the Big port Saint-Petersburg at a volume of 152,000 cubic meters and in the Ust-Luga port at 80,000 cubic meters.

The projects envisage maintenance dredging to ensure safe navigation and maintain nameplate dimensions of the water areas, approach channels and fairways of the Big port Saint-Petersburg and Ust-Luga for the period till 2026, reports UkrAgroConsult.

In addition, 420,000 cubic meters of maintenance dredging will be carried out in the Makhachkala sea port in 2017. The scope of maintenance dredging by the Russian sea port agency in water areas and approach channels of the country’s sea ports totaled over 11 Ml cubic meters last year, or up more than 30 percent from 2015.

TRANSFER OF CONTAINERS TO IKLT NEEDLESS

Importers under the aegis of the Nigerian Importers Integrity Association (NIIA), has described as unnecessary the move to transfer long-standing (overtime) containers to off-dock facilities especially the Ikorodu Lighter Terminal (IKLT) in Lagos, at a time when the nation’s seaports are operating well below capacity.

The President, NIIA, Godwin Onyekazi, who spoke against the backdrop of the clamor by some clearing agents at Ikorodu for the Nigerian Ports Authority (NPA) to transfer such containers from the main port to IKLT, argued that there is ample space in the main ports.

VPT HANDLES 50.9M TONS OF CARGO IN 10 MONTHS

While thermal coal has dropped from 9.1 million tons during April-January 2015-16 to 6.8 million tons during April-January 2016-17, coking coal has dropped from 4.6 million tons to 3.9 million tons.

With two months left in the current financial year, the Visakhapatnam Port Trust (VPT) has handled 50.9 million tons of cargo between April and January 2016-17 as against 47.1 million tons during the corresponding period of the previous year, thus registering a growth of 8.22 percent.

At the same time, container tonnage increased from 4.1 million ton during April-January 2015-16 fiscal to 5.3 million tons during the April-January 2016-17.

Check Also

Gulf News

Gulf

UAE banking sector tops in GCC with h1 assets surging to dh2.7t The UAE banking …

Leave a Reply