The second week of June presented some significant insights into the arena of shipping. Let us have a look at the important news updates that shook the world.
Yangzijiang Shipbuilding Group Took Orders for Nine New Ships
The Yangzijiang Shipbuilding has recently enhanced its performance by taking new orders for nine vessels of an incredible net worth of $578m in the past month.
In May, the orders for delivery in the period of 2020-2021, consisted of five 12,000 teu-sized container vessels, two 82,000 dwt-sized dry bulk carriers and two 208,000 dwt-sized dry bulkers. The Yangzijiang Shipbuilding Group has been steadily improving its service by accepting orders of around $846m for 18 new vessels in the first four months of 2018.
Ren Yuanlin, the Executive Chairman of the Yangzijiang Shipbuilding, highlighted the fact that the group had always focused on the order book quality plus quantity. The company has been able to keep a good record of their activities and gradually built an order book while not compromising on the quality.
The group promises their customers with high quality of vessel types, margin, customer profiles etc. Indeed, the group has been very successful in winning bulk orders and upgrading the vessel delivery service in May.
Pan Ocean Has Ordered a Pair of Container Vessels from the Hyundai Mipo Dockyard
The South Korea-based company, Pan Ocean, has ordered for the construction of two 1,800 teu-sized boxships at the domestic yard of the Hyundai Mipo Dockyard. It has been found out that the two vessels will contain scrubbers and will provide its services to the company’s South-East Asia line.
As per the reports, the net worth of the two containerships is $50m and the delivery is probably going to be made during the second half of 2019 or during the first half of 2020. The Pan Ocean is famous as a bulker operator, which is also associated with the supervision of two feedermax boxship vessels- ‘Pos Yokohama’ and ‘Pos Tokyo’.
The Company had last ordered for container vessels in 2010, which involved the construction of two 1,740 teu-sized ships at the Huangpu Wenchong Shipbuilding in China. Unfortunately, the order faced a cancellation owing to the financial difficulties that the Pan Ocean organization was going through at that time. Therefore, it is a great pleasure to see that this renowned company is finally back on the track!
The Deendayal Port is Keen on Upgrading its Fertilizer Cargo Handling
The Deendayal Port in Kandla is all set to improve its cargo handling facilities for fertilizer, which is being supported by the Standing Finance Committee of the Ministry of Shipping. The exclusive technically-advanced handling facility will be established at the berth number 14 of the Deendayal Port.
Everything is supposed to fully mechanized, be it the unloading of fertilizer shipment or transferring of the shipment to the wagons. The estimate of the construction is currently at Rs. 138 crores, which can further be increased by Rs. 340 crores because of funding from the internal resources. Moreover, the storage shed will be upgraded with the addition of 40 sets of bagging and stitching units, which will definitely optimize time, reduce labor and decrease the logistics cost in the long run.
The new, improved system of cargo handling will make sure that the fertilizer cargo is delivered quickly to the respective clients. The Mechanized Dust Suppression technology will be used to minimize the number of dust particles or contamination in the shipment.
Construction of Subarnarekha Port to Begin Soon
The construction of the much-awaited Subarnarekha Port in Odisha has received its consent from the Defence Ministry. The Odisha government is prepared to commence the construction work of the port.
The Creative Port Pvt. Ltd. or the CPPL (the Chennai-based organization) has shown interest in building the all-weather, deep-draught commercial port at the Subarnarekha river, in the mouth of the Bay of Bengal in the Balasore district.
In the recent scenario, the Government has already proceeded in clearing the decks for the upcoming project. The Tata Steel has signed an agreement with the Chennai firm (Creative Port Pvt. Ltd.) to claim a 51 percent equity in the port project.
The Panama Canal Has Created a Monthly Tonnage Record of 38.1 Million Tons
The world-famous Panama Canal has achieved a new record involving the monthly tonnage of 38.1 million tons due to the transit of 1,231 vessels in the past month. In fact, this is the third record set by the Panama Canal since the inauguration of the Expanded Canal and it proves the fact that the services are improving every day.
The installation of the new Neopanamax locks in the Extended Canal portion has noticeably increased the cargo capacity and an estimate of no less than 3,800 vessels have been received by the Canal after the change.