Germany-Based Hapag-Lloyd Sealed An Agreement For The Acquisition Of NileDutch
Over the years, Germany-based Hapag-Lloyd AG is a renowned international shipping and container transportation company and has earned a huge amount of popularity by becoming the fifth largest container carrier when it comes to vessel capacity. Being a global leader in the container shipping and logistics arena, Hapag-Lloyd has decided to enhance its services in the African market after giving a green signal for acquiring the Rotterdam-headquartered container shipping organization known as NileDutch. NileDutch has carved out its own niche in the maritime industry by being a well-known provider of container services to West Africa along with owning 10 liner services and a solid fleet of 80,000 teu. Needless to say, the recent acquisition of the Dutch container shipping company has strengthened Hapag-Llyod’s presence in the strategic growth market of Africa by encouraging a denser customer base and a well-connected network. Though NileDutch is a smaller team player than Hapag-Llyod with its existing fleet only 2 percent of the size of Hapag-Llyod, the Dutch company will ensure a strong foothold in the African trading markets in the long run!
Indian State Refiners Decide To Cut Down Oil Imports From Saudi Arabia By Approximately A Quarter
Reflecting on the global trading scenario in recent times, India has planned to significantly reduce oil imports from Saudi Arabia by almost a whole quarter in May following a clash with Riyadh that occurred after OPEC’s call with reference to New Delhi’s initiative to aid the world economy. As you must already be aware, India happens to be the third-largest oil importer and consumer with the Middle East being its main trading source for around 80 percent of its overall oil requirements. The main reason for the drastic decision was the Indian government’s drive to diminish the state of dependence on crude imports all the way from the Middle East. Keeping in mind the Government’s call, many well-established organizations like the Bharat Petroleum Corp., Mangalore Refinery and Petrochemicals Ltd., Indian Oil Corp.,and the Hindustan Petroleum Corp. have planned on lifting no less than 10.8 million barrels in the month of May itself.
India-Based Adani Group Extended Its Port-Terminal Investment To Sri Lanka For The Construction Of New Terminal In Colombo
Adani Group from India has decided to extend its port-terminal investment in a bid to build and supervise the West Container Terminal in Colombo, which is considered as a third facility falling under the South Harbor development program in Sri Lanka. Adani rules the Indian maritime arena by possessing around 30 percent of the total port capacity in the country with the Mundra Port delivering an esteemed performance in the container trade. Following the development that is being declared as a government-to-government balancing act, the Adani organization is all set to hold a 51 percent controlling interest in the construction of the new Colombo-based terminal and the port-terminal authorities are hopeful that the new partnership will be successful in establishing a powerful network. Plus, the investment will also give a huge boost to the plethora of transshipment options to provide benefits to numerous shipping lines as well as the port customers.
Karnaphuli Ltd. Plans To Purchase Four New Vessels To Increase Its Fleet And Footprint
Karnaphuli Ltd. has future plans of acquiring not one but four brand-new container vessels in an attempt to reinvent and replenish its existing fleet. Karnaphuli Ltd. has been successfully managing the container feeder operations between Chattogram and two regional hub ports and the addition of four new ships will be extremely beneficial in establishing its strong footprint in the region. A subsidiary called HR Lines Ltd. under Karnaphuli Ltd. has decided to introduce a weekly service operating on the Chattogram-Colombo route by the end of March. At the moment, Karnaphuli happens to be the sole owner of Bangladeshi flagged container ships in the market that is otherwise filled with non-Bangladeshi vessels.
Mitsui O.S.K. Lines Has Invested In AS Larvik Shipping From Norway To Encourage Liquefied CO2 Ocean Transport Business
Hailing from Japan, Mitsui O.S.K. Lines has finally ventured into the liquefied CO2 transport business by investing in Norway-based AS Larvik Shipping that excels in the active transportation of CO2. Mitsui Lines is making a genuine attempt to follow the international environmental standards by entering the emerging carbon market as a leading shipping organization. The liquefied CO2 ocean transport is likely to play an integral role in promoting the carbon capture utilization as well as storage initiatives in the near future.