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Shipping does not need new regulations but enforcement of old ones

THE Liberian Registry has called on regulators to ensure effective implementation of existing rules before creating new ones.

“It is the job of ship registries to ensure the effective, efficient and practical implementation of rules and regulations, said Scott Bergeron, UK chief of the Liberian International Ship & Corporate Registry.

“Unfortunately, there are other regulators who are not enforcing the rules effectively and this is really troublesome because the result of ineffective implementation is yet more regulation.

“The industry already has enough regulations and creating new ones just as a political or public reaction to accidents is very short-sighted,” said Mr Bergeron.

“The ISM [International Safety Management] Code should be the last regulation from IMO, because every new requirement, whether political, environmental or safety-related, could be incorporated into ISM,” he said.

“We don’t need new conventions. We don’t need new regulations. What we need is for everything to be encapsulated in a single operating concept such as the ISM Code.

“Liberia applauds IMO and calls on other flag states to work together with Liberia to achieve effective implementation of existing regulations. Too much time, too much energy and too much expense has been wasted on new regulations. Let’s focus on the ones we have,” Mr Bergeron said.

 

Source: Asian Shipper (5th July 2014)

Indonesia Pelindo III buy 11 auto-RTGs for Tanjung Emas Port, Java

THE Indonesian port operator, PT Pelabuhan Indonesia III (Pelindo III) will buy 11 automated rubber-tyre gantry cranes to increase capacity at Tanjung Emas container terminal in Semarang, Central Java for US$24.48 million.

The Finnish Konecranes, financed by internal cash, will allow the terminal to handle 800,000 TEU within the next five years with delivery in 2015 and full operation by year-end, reports the Jakarta Post.

The purchase of the RTGs will support growing volumes up nine to 10 per cent year on year at 498,717 TEU in 2013 from 457,152 TEU in 2012. The new RTGs represent an operational cost saving of up to 40 per cent.

The port operator is to expand the terminal dock by 105 metres and its container yards by 5.4 hectares with 11 new cranes installed at the new container yards. Two RTGs will be placed in the new dock by April 2015.

 

Financing comes from $500 million in bonds as well as a Credit Suisse and Deutsche Bank London loan of $121 million.

Source: Asian Shipper (13th June 2014)

P2 updates

In the face of looming competition from new or expanded ocean shipping alliances among the biggest carriers, smaller lines are taking steps to ensure their own long-term survival.

United Arab Shipping Co. is a case in point. In the last year it has ordered 17 new post-Panamax container ships to replace its aging fleet, it overhauled its global management structure to place responsibility on trade lanes rather than regions, and it is expanding its vessel-sharing alliance with China Shipping Container Lines on a few key trades where it is adding new services.

“We are the P2,” UASC president and CEO Jorn Hinge said in an interview at the UASC’s regional headquarters for North America in Cranford, N.J. He thinks the planned debut of the P3 Network of Maersk Line, Mediterranean Shipping Co. and CMA CGM this fall — following delays in getting it approved — and service consolidations by the G6 and CKYHE alliances will help sustain rates on the Asia-Europe trade because the carriers that belong to them will be able to cut capacity by suspending unneeded port calls or entire sailings. “Rather than sailing with ships half full, they will suspend a string,” he said.

In the last year the Dubai-based carrier teamed up in a vessel-sharing alliance with CSCL on the Asia-Europe and trans-Pacific trade lanes. In April the two carriers launched a new Asia-Europe network with three new services (AEC1, AEC3, AEC4) and two enhanced services (AEC8, AEC9). It added the capacity on that trade with slot exchange arrangements with Hanjin Shipping and Evergreen Marine. Hinge said UASC is also working closely with other carriers, including Cosco, on slot exchanges on other routes.

UASC and China Shipping have both ordered huge new container ships that they will pool together in joint services on the Asia-Europe trade when they are delivered. “The game-changer for us was the cost of fuel,” Hinge said. He said the cost of bunker oil has tripled over the last five or six years, and “it’s not going to stop there.” Acquisition of the new ships was also spurred by the need to go green. U.S., Asian and European regulators are requiring that ships burn cleaner and more expensive fuel within their territorial waters, and UASC needed a new fleet that would burn less fuel and also cut carbon emissions.

It placed the largest order in its history last year when it signed an agreement with Hyundai Heavy Industries that is worth some $2.5 billion. It ordered six 18,800-TEU vessels and 11 14,500-TEU ships. All of the 18,800-TEU mega-ships will be deployed on the trades from Asia to North Europe and the Middle East and Mediterranean. The 14,500-TEU ships will be deployed on the Asia-Middle East route and in the intra-Asia trades, where some of the ports can’t handle larger ships.

CSCL has also ordered five new 18,800-TEU ships that will be added to the six ordered by UASC to form a string of ships on the Asia-Europe trade when all are delivered over the next few years. “We will have only half the headache,” Hinge said.

In anticipation of even stricter emissions standards to come by 2020, UASC is equipping the new ships with piping and dual-use engines that will enable it to convert from bunker to LNG fuel. The first 18,800-TEU behemoth is due for delivery later this year in South Korea.

“The size of the ships is not a big deal. It’s the technology on the ships that’s the big deal,” Hinge said. The new ships won’t have the tanks to store LNG when they are delivered, but it will only take about a month to install them on the ships when emissions standards are increased further, which Hinge expects in the next four or five years.

UASC is the 17th-largest container line, according to Alphaliner, with a fleet of owned and chartered ships that have a total capacity of 288,756 TEUs. The 19 new ships UASC has on order have a capacity equivalent to 97.6 percent of its existing fleet. It scrapped some of its 2,000-TEU vessels two years ago and plans to return many of its Panamax-sized chartered vessels when the big new ships are delivered. “They are not the most efficient ships in the world,” he said.

UASC had little problem financing the new ships because it is owned jointly by six oil-rich Persian Gulf states — Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia and U.A.E. Hinge said the financing was “100 percent oversubscribed” by international banks and banks in the Middle East. Though the new ships will add to the overcapacity that already hangs over the Asia-Europe trade, “[UASC has] to be in the China trade for many years to come,” Hinge said.

Last year, UASC overhauled its management organization to consolidate its multiple regional offices into regional headquarters. Hinge said the new regional headquarters will be responsible for managing trade lanes to their regions rather than selling across all trade lanes. They will have responsibility for the profitability of their own region’s trades rather than selling capacity on every trade, which will boost efficiency and cut costs. For example, UASC is closing offices in Cranford, Baltimore, Norfolk and Savannah and consolidating them in a new headquarters for the U.S. trade lanes in Peachtree, Georgia, near Atlanta this coming August.

It also consolidated its regional offices in Europe and moved its headquarters for the North Europe trades to Hamburg, Germany. It operates a hub-and-spoke network in other regions, with Algeciras, Spain, as the hub for the trades with West Africa and Latin America; Singapore for the Asia-Middle East trades; Port Klang, Malaysia for Australasia; and Dubai as the hub for the trades between India, the Middle East, the Mediterranean and the U.S. East Coast.

It’s too soon to measure the results of the reorganization. UASC only implemented the new organizational structure during the third quarter of last year, with financial reporting under the new system in effect since January, so it will take 12 months to see how it works. “So far so good, but we need more experience,” Hinge said.

Source: unknown (pls advise and malaysiashipping,info will update accordingly)

P3 updates

The much anticipated alliance of Maersk Line, Mediterranean Shipping Co. and CMA CGM will not start operations before September this year as it continues to wait for regulatory approval.

“CMA CGM now expects P3 to start operations in Autumn 2014,” the French line said in a statement, confirmed by Maersk Line in an interim results announcement as the Danish carrier reported a first quarter doubling of its net profit to $454 million.

After being granted approval by the U.S. Federal Maritime Commission (FMC) in March, the world’s top three container lines had expected to begin operating within the next few weeks. However, several regulatory authorities have yet to approve the vessel-sharing agreement, including China’s Transportation and Commerce Ministries. Since the P3 isn’t considered a merger, it can take effect in Europe immediately. But if European regulators at any time determine that it violates Article 101 of the Treaty on the Functioning of the EU, authorities can dissolve the consortium.

“The P3 partners continue their close cooperation with competition and maritime authorities in Europe and Asia to address questions and to explain the nature of P3,” the CMA CGM statement said.

The proposed alliance, which would initially involve 252 vessels totaling 2.6 million TEUs on east-west routes, would be the world’s largest carrier alliance. Since the ships operated by the P3 will be larger on average than ones operated by the other major alliances, the G6 and CKYHE, it will put the carriers at a cost advantage over most of the rest of the industry.

Views from shipper groups regarding the mega-alliance have been mixed. The China Shippers Association has expressed concern over the power the three carriers would wield in the market. The P3 will control 42 percent of Asia-Europe capacity, 24 percent of trans-Pacific capacity, and 40 to 42 percent on the trans-Atlantic, according to the FMC.

In an interview with the JOC, National Industrial Transportation League President and CEO Bruce Carlton said the P3 members should be taken at their word that they would compete, but the marketplace should be monitored to make sure services are individually priced and marketed.

 

“The carriers told me directly: We will individually compete, individually price, individually market, but the box will go on whatever ship is in the rotation at that moment. I said that’s fine,” Carlton said.

Source: unknown (pls advise and malaysiashipping,info will update accordingly)

Goldman widens iron ore surplus forecast on steel output slow down in China

Goldman Sachs Group Inc said that the global seaborne iron ore glut will probably be 21% bigger than forecast next year as steelproduction slows in China

Goldman Sachs said that the surplus will reach 175 million tonnes in 2015, compared with a prior prediction of 145 million tonnes. The bank estimates that output will exceed demand by 72 million tonnes and prices will average USD 109 per tonne in 2014, before dropping to USD 80 next year.

Analysts including Mr Christian Lelong said that “The market is

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no longer in balance but in the early stage of a structural surplus. China will not act as the safety valve in an oversupplied market for much longer.”

Goldman said that disruption in Port Hedland would be costly for the producers affected and would drive a temporary price rally, but it would ultimately be washed out by global market fundamentals.

According to Shanghai Steelhome Information Technology Company, China’s inventory at ports rose 1.8% to a record 112.55 million tonnes in the week to May 16 from a week earlier. As much as 40 percent of inventory at ports may be tied up in financing purposes.

Mr Doug King the London based chief investment officer of the Merchant Commodity Fund said that “A meaningful amount of iron ore stockpiles in China is tied to financing, which means an unwinding can be excessive. Real demand will be dampened

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Source: Bloomberg (23rd May 2014)

From the shipping community to the shipping community