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October Cargo Volume Rises at Port of Long Beach

first_imgzoom The second-busiest container port in the United States, Port of Long Beach, continued its winning streak with a 6.3 percent rise in October cargo volume compared to the same month last year.A total of 619,983 TEUs (twenty-foot equivalent units) moved through the port in October. Imports were down 0.8 percent to 307,995 TEUs. Exports increased by 6.5 percent to 128,308 TEUs.“We had an early peak in July and August, with much of the inventory for the holiday shopping season coming early. On the export side, we’ve seen increases for the past two months, as shipping lines choose Long Beach for its reliability and service,” said Port of Long Beach CEO Jon Slangerup. “Year to date, we’re up more than 5 percent, so 2015 is shaping up to be one of our best years ever.”Empty containers, sent back overseas to be refilled with goods, continued to rise 20.8 percent to 183,681 TEUs.The National Retail Federation has forecast that retail sales in November and December would increase 3.7 percent from last year. Through the first 10 months of 2015, Long Beach cargo was up 5.4 percent overall compared to the same period last year.“Volume is reaching pre-recession levels of trade and demonstrating the ability of Long Beach industry stakeholders to handle high amounts of cargo,” the port said in its monthly report.According to the port, this is its best October in eight years, and the top quarter in the port’s 104-year history.last_img read more

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Operator Stellar Cosmo Not Heading for Repairs

first_imgzoom Polaris Shipping’s Very Large Ore Carrier (VLOC) Stellar Cosmo has not broken down and is not heading for repairs to Cape Town, as disclosed to World Maritime News.Holman Fenwick Willan Singapore LLP, speaking on the authority of the ship’s operator, said that the reports indicating that the ship was heading for repairs after developing a crack in the hull were not true and that the ship was in fact heading to Singapore for refueling.“Stellar Cosmo diverted from her voyage to China to the last reported site of the Stellar Daisy to take part in search and rescue operations. She has departed early from the scene and is heading to Singapore for bunkers before continuing her contractual voyage to China. The reason for her departure is to allow her sufficient bunkers to reach China and not for reasons of repairs as has been reported,” the firm said reacting to media reports.The 1992-built ship was also converted from a crude carrier to an ore carrier, a process that has been put under spotlight over the past few days as the ship’s owner faces criticism following the sinking of Stellar Daisy.The VLOC went missing on March 31 and is believed to have sunk some 1,700 miles east of the Port of Montevideo, Uruguay. Stellar Daisy was carrying eight South Korean and sixteen Filipino sailors. Two of the sailors were rescued on April 2, while the search for the remaining missing 22 crew members continues.Just a few days after the incident, Polaris Shipping confirmed that another of the firm’s vessels reported a crack on the outer hull of a tank- the 1993-built bulk carrier Stellar Unicorn.The ship was sent for repairs and will continue its voyage to China once it gets necessary approvals.As a result of the said incidents, the company said that it had launched inspection of all its operated vessels.As informed, the inspection will be conducted in addition to the regular maintenance and inspection, and would continue until all vessels are inspected and cleared for service.World Maritime News Stafflast_img read more

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Scorpio Bulkers Charters Ultramax Ship

first_imgzoom NYSE-listed dry bulk owner and operator Scorpio Bulkers has entered into an agreement with an unrelated third party to time charter-in one Ultramax vessel.Under the deal, the vessel will be chartered for a period of two years at around USD 10,125 per day with an option to extend the agreement for one year at USD 10,885 per day.The company did not unveil the details of the ship in question, however, it informed that the time charter is expected to commence prior to the end of October 2017.Earlier in April, Scorpio Bulkers decided to sell its two 2014-built Kamsarmax vessels SBI Cakewalk and SBI Charleston to unaffiliated third parties for some USD 45 million in total.Featuring 81,600 dwt, the ships, which were built by Chinese Jiangnan Shanghai Changxing Heavy Industries, were added to Scorpio Bulkers’ fleet in August and September 2014, respectively.Following the completion of the sales, Scorpio Bulkers will own a fleet of 46 vessels, consisting of 18 Kamsarmax and 28 Ultramax ships, with a total carrying capacity of 3.2 million deadweight tonnes.last_img read more

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Worlds Largest LNGFuelled Ship about to Enter the Market

first_imgzoom South Korean shipbuilder Hyundai Heavy Industries (HHI) is about to close the year with a bang, as it gears up for the delivery of the world’s largest LNG-fuelled ship.Namely, Hyundai Mipo Dockyard (HMD), part of the HHI Group, will deliver this month a 50,000 dwt bulk carrier with a high manganese LNG fuel tank.The ship was ordered in 2016 and is being built for Ilshin Logistics in collaboration with steelmaker Posco. The vessel is the largest bulk carrier ever ordered to use LNG as fuel.Once delivered, the bulker will transport limestone cargoes in the Korean coastal trade for Posco.Lloyd’s Register (LR) and the Korean Register (KR) are providing dual classification and certification, verifying compliance with the International Gas Fuel (IGF) Code.The new type of cryogenic steel, developed by Posco, is high in manganese and is used for the 500 m3 capacity Type ‘C’ LNG fuel tank, located on the aft mooring deck. The properties and characteristics of the high-manganese steel, as well as the required welding technology, have been proven suitable for cryogenic applications, according to LR.HHI is making strides in the construction of LNG-powered ships and has recently signed a contract to build the world’s first LNG-fuelled aframax tanker.In addition, the shipbuilder and LR have almost completed the design of 180,000 dwt class bulk carriers. The design development is in the process of receiving approval in principle.Creating environmentally-friendly designs is more of a mission than a choiceAs disclosed by LR, this design is optimised for short to medium-haul bulk trade (i.e. Australia – Asia) and long-haul bulk trade (i.e. Brazil – Asia) service, in line with Harmonised Common Structural Rules.To decide the optimum location and type of LNG tanks for these designs, the shipyard conducted several case studies for competitive CAPEX and OPEX.As a result, LNG fuel tanks with Posco high manganese steel or 9% nickel steel were chosen. They will be located on the aft mooring deck because of the amount of LNG that will be required for the Australia – Asia route. For the long-haul route, a larger sized LNG storage tank can be fitted in the mid-part of the vessel.Additionally, Woodside, Anangel, GE, LR and HHI signed a joint industry project agreement to develop an LNG-fuelled 250,000 dwt very large ore carrier operating on the Australia – Asia iron ore trade route. The HAZID analysis of this design, to verify the safety level, was recently completed with all parties in Seoul. The LNG tanks are also based on the Posco high manganese steel or 9% nickel steel design.“We believe that HHI’s efforts can offer the possibility that will help owners comply with emission regulations with a reliable and competitive solution,” LR’s Jin-Tae Lee, Korea Chief Representative & Marine Manager, said.“We believe that our work in creating environmentally-friendly designs is more of a mission than a choice, which will lead to a cleaner shipping industry and a greener world. We hope that the first beneficiary of this effort will be the shipping industry,” Hyung Kwan Kim, HHI’s Senior Executive Vice President, commented.last_img read more

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Modec Issues USD 11 Bn in Bonds to Refund FPSO in Brazil

first_imgzoomIllustration; Image Courtesy: MODEC Japanese supplier and operator of offshore floating platforms Modec has issued USD 1.1 billion in bonds to refinance a floating production storage and offloading (FPSO) unit in Brazil.The company said that the bond would fund the FPSO, chartered to the TUPI consortium led by Petrobras, with the aim of strategically diversifying its financing sources for Modec’s entire FPSO charter business.The company explained that the move was made due to the expansion of the number of FPSO charter projects simultaneously executed by Modec in recent years, while the scale of financing for these projects is also increasing.“In response to these changes in the business environment, the aims of issuing the project bond are to enhance Modec Group’s financial stability by diversifying its financing sources for FPSO projects, as well as to secure financing flexibility for the future growth of the Modec Group,” the company noted.This project bond was issued for the FPSO Cidade de Mangaratiba MV24 which has been deployed and is currently in operation at the Iracema Sul oil field in the “pre-salt” region offshore Brazil.The FPSO is chartered by a consortium formed by Petrobras (65%), Royal Dutch Shell plc (25%) and Petrogal Brasil S.A. (10%) under a fixed-price charter contract that extends until 2034.The FPSO achieved the first oil production in October 2014 at which time, the 20-year charter of the FPSO began.“This transaction marks the first project bond for an FPSO project sold in the Regulation S/Rule 144A market, and was sold to a broad range of international investors outside Japan, mainly in Europe and the United States. Total investor demand for the issue was approximately 2-times the issue amount of the USD 1.1 billion project bond,” Modec added.Modec is currently carrying out 11 FPSO charter projects simultaneously all over the world, and four more FPSOs are currently under construction.last_img read more

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Water Study Funding Announced

first_imgThe Nova Scotia government has approved grants to 15municipalities to help them provide safe drinking water to theirresidents, Service Nova Scotia and Municipal Relations MinisterBarry Barnet announced today, Jan. 28. “Investing in essential infrastructure, such as water systems, isvital to the health of Nova Scotians and for economic growth inour communities,” Mr. Barnet said. “Safe drinking water is oftentaken for granted in Nova Scotia, but the fact is we must makethese investments to protect our water supply. We are workingwith municipalities to ensure that the water that comes out ofthe tap in Nova Scotia homes is as safe as any on earth.” The latest grants, totaling more than $150,000, are part of theDrinking Water Strategy in which the province committed to helpmunicipalities assess their water systems. The grants wereapproved throughout 2003-04 and will be used to help themunicipalities identify areas where their water systems needimprovement. Funding for water utilities in the followingmunicipalities was announced today:Cape Breton Regional Municipality — $43,388Inverness –$15,000Colchester — $15,000 (Tatamagouche)West Hants — $11,000 (Falmouth $6,000; Three Mile Plains $5,000)Shubenacadie — $13,320East Hants — $13,320Yarmouth (town) — $6,400Windsor — $6,231Truro — $5,665Oxford — $5,145Shelburne — $5,110Cumberland — $5,000 (Biggs Drive subdivision)Mulgrave — $4,612Annapolis Royal — $4,240St. Marys — $2,990 (Sherbrooke) The grants represent one-third of the estimated costs ofpreparing the assessment reports. So far, more than $250,000 hasbeen committed to municipalities under this program. More than$100,000 worth of approvals were announced in April 2003. Theminister said further announcements will be made as municipalfunding applications are approved.last_img read more

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Convergys Corporation Expands Into Cornwallis

first_imgNova Scotia Business Inc. and Convergys Corporation — the globalleader in integrated billing, employee care, and customer careservices — announced today, Feb. 17, that Convergys will expandits Nova Scotia operations into Cornwallis. The company expectsto hire 175 people within the next two years. Premier John Hamm and Gloria Griffin, senior director of siteplanning and development for Convergys Corp., were in Cornwallisfor the announcement. They were joined by Jim Thurber, chair ofthe Digby-Annapolis Development Corporation and Stephen Lund,president and CEO of Nova Scotia Business Inc. “Today’s announcement is another expression of confidence in NovaScotia’s economy,” said Premier Hamm. “Convergys continues toinvest time and time again in our province and our people, andthey’ve set an example for the international business communityto show that Nova Scotia continues to be a great place in whichto do business.” The centre in Cornwallis will mark Convergys’ fourth location inNova Scotia. Convergys is already one of the province’s largestprivate-sector employers, with sites in Dartmouth and NewGlasgow, and another nearing completion in Truro. “Convergys believes that Canada offers a dedicated, motivatedworkforce of well-educated professionals and the businessenvironment needed to deliver world-class customer care,” saidJack Freker, president of Convergys’ customer management group.”As the largest, outsourced customer care provider in the world,with over 11,000 employees in Canada, Convergys is very proud tobe announcing our new facility in the Digby area, and we willcontinue to rely on these talented individuals to deliverconsistent, responsive, and cost-effective customer care acrossmultiple channels for many clients.” Convergys Corp. signed a five-year payroll rebate with NovaScotia Business Inc. for the creation of the in-bound customercontact centre in Cornwallis. Conditional on achieving itstargets, Convergys will receive a payroll rebate, paid at the endof each year (beginning at the end of year two), to a maximum of$4.8 million. Although the company expects to hire 265 peopleover that time — which would result in a rebate of $2.8 million– the agreement is designed to encourage additional growth andemployment. “The Convergys announcement is a credit to the community leaderswho worked so hard to help us attract this business opportunityfor the location,” said Mr. Lund. “It’s an excellent example ofhow we can work together to put forward the best business facefor companies that are considering Nova Scotia for expansion orrelocation.” Convergys has signed a five-year renewable lease with the Digby-Annapolis Development Corporation and will begin tailoring thefacility to suit its service needs. The company expects to beoperational by April. “This announcement is the result of an effective and efficientcollaboration between NSBI, the Digby-Annapolis DevelopmentCorporation, the Western Valley Development Authority, theAnnapolis Basin Conference Centre, ACOA and the Nova ScotiaCommunity College,” said Mr. Thurber. “It would not have beenpossible without the full participation of all partners and weknow Convergys will experience the same co-operation and successas they become part of our community.” Convergys has operated in Canada since 1994 and employs more than11,000 people in 11 contact centres across the country. Inaddition to its Nova Scotia sites, the company operates inWinnipeg, Man.; St. John’s, NL; Ottawa and Welland, Ont.;Kamloops, B.C.; two locations in Edmonton, plus Lethbridge andRed Deer, Alta. Nova Scotia Business Inc. is the province’s business developmentagency, an organization that works with companies to providebusiness solutions. The private sector-led agency works toattract new businesses to the province and help those already inNova Scotia expand through services such as export developmentand financing. Convergys Corp. employs more than 50,000 people in 52 customercontact centres, data centres and other offices in the UnitedStates, Canada, Latin America, Europe, the Middle East, and Asia. It has its world headquarters in Cincinnati. For more informationsee the website at www.convergys.com .last_img read more

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Province Plans Pair of Pictou Paving Projects

first_imgTwo upcoming paving projects will result in smoother travel for drivers in the Pictou-New Glasgow area. The Nova Scotia Department of Transportation and Public Works is calling for tenders for repaving on Route 256 from the intersection of West Branch Road for 6.5 kilometres to the intersection of the Loganville Road. Also being called is a tender for repaving on Route 347 from the New Glasgow town line for 5.2 kilometres to the intersection of Thorburn Road. “Good roads are vital to the economic life of Nova Scotia,” said Ron Russell, Minister of Transportation and Public Works. “That’s why our department is working so hard to improve our highways.” The Department of Transportation and Public Works’ highways division manages more than 23,000 kilometres of roads in Nova Scotia. It maintains 4,100 bridges and operates seven provincial ferries. Staff provide services from district offices in Bridgewater, Bedford, Truro and Sydney.last_img read more

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New Glasgow Adds Two Police Officers

first_imgNew Glasgow will have two new police officers to meet the safety and community police needs. Two officers will join the New Glasgow Police Force in April as part of government’s 250 additional officer program. “We want to make our communities safer and these new officers will help do that,” said Health Promotion and Protection Minister Pat Dunn, on behalf of Attorney General and Justice Minister Cecil Clarke today, Jan. 18. Since 2006, 150 provincially funded extra enforcement officers have been allocated throughout the province to new, successful programs. The additional officer program is part of the crime strategy, Time To Fight Crime Together, and government’s plan to have 250 additional officers in Nova Scotia by 2011. The positions are being funded, in part, by the federal government’s $11.2-million investment to increase enforcement. “There is no higher priority for our government than ensuring the security and well being of Canadians, so we’re very pleased that the federal funding is helping Nova Scotia with public safety,” said National Defence Minister Peter MacKay. New Glasgow Police Chief Delaney Chisholm welcomed the new officers and said one will focus on First Nations policing and the other will assist with youth court. “These new officers will enable us to target areas we feel are important to our local communities,” said Mr. Chisholm. The positions will come into effect April 1.last_img read more

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Traffic Advisory Halifax Regional Municipality

first_img Local Area Office: 902-424-5591 Fax: 902-424-7116 HALIFAX REGIONAL MUNICIPALITY: Highway 102 On Wednesday, Aug. 5, there will be a 20 minute closure of Highway 102 (Bicentennial Highway) between 6 p.m. and 7 p.m. to allow for blasting at the Larry Uteck Interchange. Drivers should expect delays or use alternate routes which will be indicated by electronic signs. -30-last_img