The ship industry briefing
The latest news, views and numbers you need to know this month
News in Numbers
$12.6m
The United States Maritime Administration has granted $12.6m in funds to nine marine highway projects across the country.
51%
Germany’s Hapag-Lloyd has reported an almost tenfold surge in its first half profits to $3.3bn, as freight rates increased ‘significantly’ due to scarce transport capacities. Revenues soared 51% year-on-year to $10.6bn.
52%
Dubai-based port operator DP World has reported a doubling of in first half-profit, driven by strong growth in India, Australia and the UK. DP World recorded cash from operating activities of $1.49bn during the first six months of this year.
23%
Canada’s CSL Group has concluded the world’s longest-running test of B100 biodiesel on marine engines, at almost 30,000 running hours, with results showing 23% CO₂ reduction.
€24m
A maritime consortium that includes the Dutch dredging and maritime firm Boskalis has secured a grant of €24m to carry out research for promoting the usage of methanol in shipping.
2025
The Nigerian Ports Authority plans to undertake several steps and investments to establish a completely digital ecosystem at all the port sites in Nigeria by 2025.
$172m
Chinese leasing firm China Development Bank Financial Leasing has agreed to purchase nine vessels from Danish shipping company Torm for $172m.
Business
ICTSI unit Contecon Manzanillo to invest $230m for expansion project
International Container Terminal Services (ICTSI) business division Contecon Manzanillo plans to make an investment of $230m to expand its terminal’s facilities and enhance its infrastructure.
Source: Ship Technology
Taylor Maritime increases stake in Grindrod
Dry bulk shipping company Taylor Maritime Investments has struck a $77.9m deal to acquire a 22.6% interest in Singapore’s Grindrod Shipping Holdings.
The deal was a private, off-market purchase from a unit of Remgro, the biggest shareholder of Grindrod Shipping, and is anticipated to be completed before 28 February 2022.
Source: Ship Technology
DP World reaches agreement to develop DRC Banana Port
Dubai-based port operator DP World has entered into a final collaboration agreement with the Government of the Democratic Republic of the Congo (DRC) to develop a deep-sea port at Banana on the country’s 37km Atlantic Ocean coastline.
This development follows the parties amending the initial contract by signing a term sheet including contract modifications earlier in the year.
Source: Ship Technology
LNG TO BREAK THE ICE
Wärtsilä Voyage has secured an order to supply radio and integrated navigation systems for ten icebreaking liquefied natural gas tankers, which are to be built for the Arctic LNG-2 project. The new contract, which was placed in January, will now be implemented in partnership with Samsung Heavy Industries shipyard.
Source: Ship Technology
Quotes
Stephen Cotton, General Secretary of the International Transport Workers’ Federation, rejects claims made by the Australian federal government that Australia’s current supply chain challenges are unique to that country
“Most of the world is experiencing supply chain disruption of some form right now, and globally unions are working with industry to attempt to alleviate the pressure that has mounted due to an unprecedented global health crisis. The ITF takes a global view on supply chains and we encourage Australian media and decision-makers to do likewise.
"We understand the reality that policies and disruption experienced in one part of the world will have an impact all the way down the supply chain, ultimately delaying goods reaching consumers. Simply put: the disruption, delays and shortages that we’re seeing in global supply chains are not an Australian-only phenomenon and it is definitely not an MUA-related phenomenon."
Speaking at the organisation's 32nd Assembly, IMO Secretary-General Kitack Lim stresses the importance of the role IMO plays in the effort to decarbonize shipping
"Our collective actions must show our dedication to contribute towards the global issue of climate change. We can only achieve these goals by working together on a global scale and IMO provides the forum for shipping to do its part. The world is watching us.
"The way forward is complex, but by working together I have every confidence that we will ensure that shipping will decarbonise and make a key contribution in the fight against climate change and for cleaner oceans.
"Collaborative and considerate actions are key to making sure no one is left behind. Shipping will continue to drive world trade. The work of IMO is more relevant than ever. As a part of the United Nations family, we will continue to seek outcomes in support of sustainable development and a brighter future for our planet."
