South Korea-based HMM Shipping Line Adds a Sulphur Cap Surcharge:
After drawing inspiration from several other shipping lines like Maersk, MSC, CMA CGM etc., HMM, the major shipping line from South Korea has introduced a sulphur cap surcharge without any further ado. Taking into account the data provided by the Alphaliner ranking, HMM is currently considered to be the 10th largest container line in the world with its total capacity at an incredible 412,000 teu. Preparing its implementation in January 2019, the main purpose of this sulphur cap surcharge is to make amends for the fuel expenses, which are steadily on the rise. This increase in fuel costs is a direct result of the 2020 IMO sulphur emissions regulations. However, the majority of shippers have protested strongly against the action of introducing the fuel surcharge concept who believe that these surcharges are imposed without any apparent transparency and has subsequently encouraged a scope for greater dialogue between the carriers and the clients.
CMA CGM Has Signed a Reinforced Industrial Project Along with the CEVA Logistics
CMA CGM shipping company is the owner of 33 per cent of CEVA Logistics, which has its headquarters in Switzerland. CMA CGM and CEVA Logistics have increased their bonding of strategic cooperation by jointly signing up for a reinforced industrial project. As a direct consequence, the cooperation will boost the creation of new commercial possibilities within an international network and also enhance the commercial complementarities regarding the freight management of the two companies. This joint venture will also prove to be advantageous to the CEVA Logistics by encouraging the planning for its development and re-organization in the long run.
The CEO of the CMA CGM company, Mr. Rodolphe Saade, has highlighted the importance of undertaking the industrial cooperation and how it will have a positive influence on its transformation. Moreover, he is very confident of the improvement of the company and how it will become a powerful leader in logistics in the years to come. It will also be more profitable for the clients, shareholders and employees, as they can directly reap the benefits of the mutual effort. Mr. Saade has also commented on how this move has firmly established CMA CGM as not only the long-term partner of CEVA Logistics, but also as its reference shareholder. Lastly, CMA CGM has promised to maintain its commitment towards the share listing responsibilities of CEVA Logistics.
The First Container Rake Has Been Discharged from the Kamarajar Port Ltd.
On 20th October, the vessel call by L.V. Leonidio (belonging to the CHX service by Maersk) took place at the new Adani Ennore Container Terminal at the Kamarajar Port Ltd. (KPL). The mainline containership was successfully berthed at AECTPL on the same day, without any signs of delay. The vessel was laden with 486 teus when it was anchored and then, it carried around 287 teus from the port. Recently, KPL has constructed a railway siding for the convenient handling of containers within the premises of the port. In fact, Maersk Line was so impressed with the service that it is planning to make a weekly call by the CHX service. as per the reports, Maersk has promptly agreed to a co-user joint undertaking agreement with AECTPL for the loading/unloading activities to be carried out at the terminal.
Nitin Gadkari Has Revealed the Future Plans of Constructing Two New Ports in Maharashtra
Mr. Nitin Gadkari, the Minister of Shipping in India, has mentioned to the media that there are concrete plans of developing two new ports at the Vijaydurg and Rewas locations in Maharashtra. Mr. Gadkari stated that the JNPT has already submitted the initial bids for purchasing the private port at Dighi that is going through a corporate insolvency resolution process at the National Company Law Tribunal. The Shipping Minister conveyed his plans of focusing on port-led industrialization and enhancing its capacity in the near future.
Vessels with Scrubbers Are Likely to Charge Freight Rates Premium in 2020
As the IMO 2020 fuel sulphur deadline is coming closer, the ship-owners are confused to the core with the ultimate decision oscillating between installing an exhaust gas scrubber and using emissions compliance fuels. After observing the scenario in 2018, there is definitely shift in interest towards the purchase of ships with scrubbers and that will eventually lead to a stiff competition among the leading scrubber manufacturers. Plus, there will inevitably be longer lead times for the delivery of the scrubbers to the customers. The first movers will also have the privilege of charging ‘freight rates premiums’ for the fuel savings related to operations of the particular vessels.