The order is part of an ongoing fleet renewal programme in the LR2 segment. “We are building the LR2s to ensure we have a portfolio of vessels that best fits our customers’ demands. The newbuildings will help us sustain a competitive fleet in a segment that is attractive to customers and owners alike, and to retain a strong market position,” says Søren C. Meyer, Chief Asset Officer at Maersk Tankers.

The contract for the newbuilding programme was signed in a market with competitive asset prices. In May 2018, the company confirmed the order of the first six vessels. The plan is to deliver the ten LR2s from 2020 – 2022. The vessels will come under Maersk Tankers’ commercial, technical and corporate management.

Reference: maersktankers.com

Sri Lanka, Japan, and India have reached an agreement to cooperate on the development of Colombo South Port’s East Container Terminal (ECT) in Sri Lanka.

The governments of the respective countries signed a Memorandum of Cooperation (MoC) on the matter on May 28, reflecting the longstanding good will and cooperation among the parties.

Japan has provided cooperation for the development of the Jaya Container Terminal since the 1980’s, while around 70% of Colombo Port’s transshipment business is India-related.

Sri Lanka, Japan and India will work together for further development of the Colombo Port and contribute to further regional prosperity and stability of global trading networks.

Sri Lanka Ports Authority (SLPA) retains 100% ownership of East Container Terminal. The Terminal Operations Company (TOC) conducting all East Container Terminal operations is jointly owned by Sri Lanka, with a 51% stake, and the joint venture partners with a 49% stake.

SLPA said that the three governments would work out details based on the MOC at joint working group meetings, and advance their cooperation towards early commencement of work and operation of the ECT.

Reference:worldmaritimenews.com

The soon-to-be first digital shipping company, chosen out of 17 global applicants, is set to be revealed on June 6 in Oslo, Norway, during Nor-Shipping, the largest global shipping event of 2019.

Earlier this week, the final scoring of the competition’s contestants had been performed, and a notice to the winning shipping company had been sent.

The news would be revealed at the end of a Contopia-themed panel of experts discussing the various use cases for the first digital shipping company, according to Loginno, the company that is creating the world’s Internet-of-Shipping-Containers infrastructure named Contopia (Container Utopia).

The digital shipping company would use the disruptive Israeli IoT technology for end to end supply chain visibility.

Ahead of the The Contopia Factor competition winner announcement, Loginno is warming up the engines with a surprise reveal of the technological foundation upon which the winning shipping company’s digital infrastructure will be built.

In a closed event held in Tel Aviv, Loginno unveiled the 5th generation of its critically acclaimed AGAM device, whose unique installation method as a standard container vent allows every container service depot to install it with no training.

While this operational side of Loginno’s patent-protected hardware was already known, founder Amit Aflalo, got into the technical specifics of what he dubs “both the smartest and the most affordable shipping container brain in existence today.”

“It is the only wide-area communications device with battery life of 10+ years without recharge, effectively making it a permanent solution for every shipping container, never to be taken off during its entire lifetime of usage,” Aflalo added.

Reference: worldmaritimenews.com

Persistent attacks by ethnic Baloch separatists are hampering the development of the Chinese-operated port of Gwadar, Pakistan, the linchpin of the China-Pakistan Economic Corridor (CPEC) project. 

On May 11, Baloch Liberation Army gunmen attacked the most luxurious hotel in Gwadar, killing five Pakistani citizens and one soldier. The attack followed just one month after the same group killed 14 people on Gwadar's Makran Coastal Highway - including 11 military servicemembers - and six months after an attack on the Chinese embassy in Karachi killed two policemen and two civilians. 

The ethnic Balochi homeland (Balochistan) straddles the Pakistani-Iranian border between Karachi and Bandar Abbas, extending inland as far as Afghanistan. It was an independent kingdom until British conquest in the 1800s, and Baloch nationalists would like to see the region regain its political autonomy. 

Baloch militants have fought multiple insurgencies against the Pakistani government since the late 1940s, and their recent actions have targeted Gwadar and the CPEC project in particular. The construction of the port and the associated public works have relied heavily upon Chinese contractors, and Baloch groups assert that they have been excluded from the jobs and economic benefits of the project. The Baloch Liberation Army has called for China to cease its involvement in the region's development. 

The Pakistani government has pledged to provide security for Chinese interests in Balochistan, and has set up a dedicated 15,000-strong military division for CPEC. However, the hotel attack earlier this month showed that militants are able to penetrate the defensive perimeter and security controls that Pakistani forces have emplaced around Gwadar. 

Zhou Chenming, a Chinese military analyst based in Beijing, recently told the South China Morning Post that the security situation might make think Chinese entrepreneurs think twice before doing business in the reason. "Pakistan's economy is not very good, and this port has become very wasteful," he said. "Under these circumstances, including with the hotel attack, how can China conduct its business?"

Reference: maritime-executive.com

South Korean shipping company Hyundai Merchant Marine (HMM) has launched a new corporate identity (CI) in an effort to enhance its brand equity.

According to the company, the CI reflects HMM’s “vision and ambition to take a leap forward to the bright future”.

The CI was unveiled by Jae-hoon Bae, the newly appointed President and CEO of HMM, on May 20, 2019.

“It is memorable and meaningful for HMM to introduce its new CI today, which is expected to elevate the brand equity and value of the company,” HMM CEO commented.

“Based on the strong dedication and willpower that all employees have demonstrated, HMM will make a fresh resolution to become a global top-rated carrier in 2022,” Bae added.

As explained by HMM, the new CI features “pride of Korea’s national flagship carrier as well as an intuitive grasp of shipping business.”

In addition, the blue HMM letter embodies the shape of the front of a large ship crossing the ocean, and the red line on top represents the rising sun on the horizon where the ship is sailing.

In October 2018, HMM presented its target of expanding fleet capacity to 1 million TEUs and posting USD 10 billion in annual revenue by 2022.

Earlier that year, HMM ordered at domestic shipyards twelve 23,000 TEU and eight 15,000 TEU eco-friendly mega vessels in preparation for the IMO’s sulfur regulations starting from 2022. The new mega ships are expected to be delivered from 2020.

Image Courtesy: Hyundai Merchant Marine

Reference: worldmaritimenews.com

A small cargo ship carrying vehicles and tires caught fire in Sharjah’s Port Khalid, UAE, on May 8.

A total of 13 Indian seafarers were rescued from the vessel, with none needing medical attention, local reports said.

Firefighters managed to extinguish the fire, however the vessel was almost completely destroyed, according to photos from the scene.

In addition to vehicles and tires, the vessel is said to have been carrying 6,000 gallons of diesel.

Reference: worldmaritimenews.com