DUBAI port operator DP World has announced it will repay a US$3 billion loan six months ahead of schedule.

DP World, a unit of heavily indebted Dubai World, said the repayments will be made between April 4 - 10, ahead of the October maturity of the loan.

The payment will reduce DP World's total debt to approximately $4.7 billion, citing a regulatory filing the company made to Nasdaq Dubai, reported Reuters, which added that this will leave its cash balance at $1.2 billion.

This follows an earlier announcement by DP World that it would cancel $2 billion of the existing revolving credit facility and replace it with a new $1 billion five-year revolving credit facility.

"While we have no immediate plans to access the new facility, it allows us to draw down and pre-pay cash as needed, providing timely and flexible access to cash as we continue to invest in our global portfolio to deliver profitable growth," said DP World CEO Mohammed Sharaf.

The $3 billion loan was arranged by Barclays, Citigroup, Deutsche Bank and Royal Bank of Scotland in 2007. The global ports operator handled a total of 54.7 million TEU in 2011, up from 49.6 million TEU in 2010.

Source Shipping Gazette - Daily Shipping News

ERSTWHILE rivals, MSC, CMA CGM and CSAV, have entered into a deal to provide a joint service between northern Europe and east coast South America, taking advantage of A Hamburg Sud, Alianca, Hapag-Lloyd decision to reorganise their activities in the trade lane.

"This new co-operation will allow CMA CGM to develop existing synergies with its new partners, to enhance its port coverage and to increase its service quality meeting customer requirements," said CMA CGM statement.

CMA CGM will provide three of the seven panamax ships with CSAV contributing three and MSC, one. They will rotate on a weekly loop through Le Havre, Rotterdam, Hamburg, Bremerhaven, Antwerp, Lisbon, Santos, Paranagua, Navegantes, Santos, Rio de Janeiro, Salvador and back to Le Havre.

CMA CGM has separately negotiated slot purchase arrangements with MSC and Hamburg Sud for cargo movements to and from ports River Plate ports including Buenos Aires. London's Containerisation International reports that the deal with Hamburg Sud will cover Tilbury and Hamburg ports as well.

Source Shipping Gazette - Daily Shipping News

SHENYANG'S Taoxian International Airport and Lufthansa Airlines jointly held a press conference announcing the new flights from Frankfurt to the capital of northeastern Liaoning province, Xinhua reports.

The thrice weekly flights to the city of 8.1 million takes 10 hours to cover the 8,000-kilometre distance using A340, offering three flights per week. Frankfurt-bound flights take off Tuesdays, Thursdays and Saturdays from Shenyang at 0015 hrs, reaching Frankfurt at 0530 hrs local time. Passengers can transit to 170 cities across Europe via Frankfurt.

Deputy manager of Shenyang Taoxian International Airport Wang Tongtong said launch of the route means northeastern China passengers no longer have to transit via Shanghai, Beijing or Seoul to Europe.

Lufthansa also plans to inaugurate a cargo service from Shenyang to Frankfurt during the early half of this year.

Shenyang airport will also offer direct flights to the North America later this year, said the report.

Source Shipping Gazette - Daily Shipping News

QANTAS Airways Ltd has launched a new service from Sydney to Santiago just as Australia and Chile put a free trade agreement in place.

Inaugural flight QF27 left Sydney Airport on March 26 at 11am and was scheduled to arrive in Santiago at 9:55am local time. Flying time to Santiago is 13 hours and 10 minutes.

The airline said in a statement that it is offering three return services a week on the Sydney-Santiago route on Mondays, Wednesdays and Saturdays that are operated by a Boeing 747.

LAN Airlines is codesharing on the Qantas services while the Australian airline will continue to codeshare on LAN's daily services between Sydney and Santiago via Auckland. As fellow Oneworld members, the two carriers plan to continue to work together to promote flights between Australia, Chile and the broader South American region.

Group executive Qantas Airlines Commercial, Rob Gurney, said: "Flying to Santiago is part of Qantas' strategy to target global gateway cities. South America's fast-growing economies make it the perfect time to introduce this new, non-stop service to one of the region's major hubs.

"It is also pleasing to be expanding our long-standing relationship with Chile's national carrier, LAN. Together we will offer 10 services per week between Sydney and Santiago and access to LAN's extensive South American network."

Source Shipping Gazette - Daily Shipping News

A TOLL being levied by Mumbai International Airport Limited (MIAL) to use the road leading to the cargo terminal at the Mumbai Chhatrapati Shivaji International Airport (CSIA) has been met with resistance from cargo operators, who have slammed the toll as being "arbitrary and extortionate."

The Express Industry Council of India (EICI), the Air Cargo Agents Association of India, the Indian Merchants' Chamber (shipping and aviation committee), the Maharashtra Chamber of Commerce, Industry & Agriculture, the Western India Shippers Association, the Manufacturers Association on Information Technology, the Association of Multimodal Transport Operators of India and the Bombay Custom House Agents' Association (BCHAA) are protesting against the toll.

Cargo operators have been up in arms with MIAL since the toll was introduced on every trip made to the airport's cargo terminal on February 9, reports India's Daily News & Analysis (DNA).

"There was no intimation of any kind. After our protests and repeated correspondence with the MIAL, it put out a note a fortnight later saying the toll was mandatory for all vehicles," Vijay Kumar, EICI's chief operating officer, was quoted as saying. "Around 700-800 vehicles ply on this road daily. In fact, most make several sorties. From a toll of INR50 (US$0.97) to INR200, depending on the vehicle, the MIAL makes more than INR1 million every day. And, it is not even a sovereign or constitutional body empowered to collect such a toll."

Mr Kumar was cited as saying that he has written to Aviation Minister Ajit Singh and Union Aviation Secretary Nasim Zaidi to seek their support in overturning the toll.

In response MIAL authorities said: "There was a toll of INR70 in place till about a-year-and-a-half ago for vehicles which arrived at the cargo terminal. This discontinued toll has been reinstated and that too at a lower rate than before," said an official, who added, "The Indira Gandhi International Airport at Delhi and Devanahalli at Bengaluru charge INR70 for every four hours."

According to Mr Kumar other airports charge a toll only for vehicles that use the cargo terminal to park and not for using the road leading to the air freight terminal.

Source Shipping Gazette - Daily Shipping News

EUROCAREX, an alliance of French, Belgian and Dutch airports, ran its first test train to London's St Pancras Station after an overnight trip from Lyon via Paris's Charles de Gaulle hub to circumvent the rising number of night flight bans, reports Bloomberg.

High-speed mail and parcel services may become possible if the Anglo-French safety office allows trains that travel at 190 miles per hour (305kph). London to Charles de Gaulle airport would take little more than two hours, Carex says with Amsterdam's Schiphol airport accessible within three and a half hours and Frankfurt in five and a half.

Said Air France cargo delegate to Carex Olivier Rilhac: "You can't be very optimistic about night flights. We want to be a client, but we can't lose customers, so we must find a way with EuroCarex to devise a more competitive model."

Said Eurotunnel's GB Railfreight cargo chief John Smith: "There's huge potential. As time rolls on with the green agenda, problems at airports and the capacity that these trains can offer, the economics are going to begin to swing in its favour."

Each train would carry 120 tonnes of parcels, equal to seven 737 freighters. Rail will be competitive in both the next-day delivery express market and in three-day deliveries where cost is the chief priority, says a Brussels-based Carex statement.

The test run, arranged with Societe Nationale des Chemins de Fer Francais (SNCF) and rail networks in Britain, seeks to establish value for end users. Potential customers include Air France-KLM, FedEx, UPS, Geodis and Worldwide Flight Services.

Source Shipping Gazette - Daily Shipping NewsEuropean night flight bans drive air express to high speed Chunnel trains

EUROCAREX, an alliance of French, Belgian and Dutch airports, ran its first test train to London's St Pancras Station after an overnight trip from Lyon via Paris's Charles de Gaulle hub to circumvent the rising number of night flight bans, reports Bloomberg.

High-speed mail and parcel services may become possible if the Anglo-French safety office allows trains that travel at 190 miles per hour (305kph). London to Charles de Gaulle airport would take little more than two hours, Carex says with Amsterdam's Schiphol airport accessible within three and a half hours and Frankfurt in five and a half.

Said Air France cargo delegate to Carex Olivier Rilhac: "You can't be very optimistic about night flights. We want to be a client, but we can't lose customers, so we must find a way with EuroCarex to devise a more competitive model."

Said Eurotunnel's GB Railfreight cargo chief John Smith: "There's huge potential. As time rolls on with the green agenda, problems at airports and the capacity that these trains can offer, the economics are going to begin to swing in its favour."

Each train would carry 120 tonnes of parcels, equal to seven 737 freighters. Rail will be competitive in both the next-day delivery express market and in three-day deliveries where cost is the chief priority, says a Brussels-based Carex statement.

The test run, arranged with Societe Nationale des Chemins de Fer Francais (SNCF) and rail networks in Britain, seeks to establish value for end users. Potential customers include Air France-KLM, FedEx, UPS, Geodis and Worldwide Flight Services.

Source Shipping Gazette - Daily Shipping News

The EU Commission has imposed fines against various logistics companies in antitrust proceedings pending since several years, amounting to € 53.7 million in the case of Kuehne + Nagel. The logistics companies were accused to have coordinated their activities in respect to establishing certain surcharges for airfreight forwarding services during a period prior to 2007. In proceedings in the United States relating to the same activities Kuehne + Nagel entered into a plea agreement with the U.S. Department of Justice and agreed to a fine of $ 9.8 million.

"We will carefully consider the decision of the EU Commission and its rationale," said Karl Gernandt, Chairman of Kuehne + Nagel International AG. "However, already now we are of the opinion that the Commission has not correctly investigated the facts and the participation of Kuehne + Nagel and has drawn significantly incorrect factual and legal conclusions. In addition, Kuehne + Nagel’s comprehensive cooperation throughout the investigation was not adequately acknowledged. That is why we take into consideration to appeal against the decision before the European courts."

Source Kuehne + Nagel

BP (NYSE: BP) announced an agreement to lease thousands of acres in northeast Ohio for future oil and gas production in the Utica/Point Pleasant shale formation.

Utica/Point Pleasant is a relatively new and very promising shale basin that consists of a potentially significant liquids-rich gas source, and this deal adds an important American energy source to BP's onshore gas portfolio.

''BP is excited to expand our presence in Ohio in a way that will create jobs, bolster the local economy and provide additional sources of energy from an important emerging American resource,'' said Lamar McKay, chairman and president of BP America. ''Over the last five years BP has been America's largest energy investor with vast experience in developing natural gas resources. We intend to bring our expertise and the highest industry safety and environmental management practices to this project.''

BP signed an agreement to lease about 84,000 acres in Trumbull County, Ohio with the Associated Landowners of the Ohio Valley (ALOV), a group representing area mineral owners. Members of ALOV voted March 26 to approve the lease arrangement. Terms of the agreement, to be executed with each landowner, are confidential.

Through its heritage companies of Standard Oil of Ohio (SOHIO) and Amoco, BP's roots in Ohio date back to 1870. BP operates the BP-Husky refinery near Toledo which it owns in a joint venture with Husky, LLC, and is also a leading marketer of fuels in Ohio through independently-owned marketers under the BP brand. BP heritage companies have also been active in the upstream business throughout its history in the state of Ohio.

The Utica/Point Pleasant shale is at a depth of about 6,000 feet. This rock formation is of similar thickness to the Marcellus and has the potential to deliver higher liquids rates. The Ohio Department of Natural Resources estimates a recoverable Utica shale potential between 1.3 and 5.5 billion barrels of oil and between 3.8 and 15.7 trillion cubic feet of natural gas.

''We are very encouraged by what we have seen of the Utica/Point Pleasant formation. Our focus in 2012 will be to better understand the geology and devise a plan to safely develop the resource,'' said Tim Harrington, regional president for BP's North America Gas (NA Gas) business. ''BP is committed to hiring and purchasing locally whenever possible and we anticipate having a positive impact on the region while providing a new source of energy for America.''

BP is the second largest oil and gas producer in the U.S. with a workforce of about 23,000 people, making BP the country’s second largest oil and gas employer.

Operating across a vast U.S. geography that stretches from onshore U.S. Gulf Coast through the Rocky Mountains, BP's North America Gas business has one of the best portfolios in the industry with a presence in seven of the leading U.S. onshore basins. In the lower 48 U.S. states alone, BP and its co-owners operate fields holding some 50 trillion cubic feet of natural gas, enough to satisfy U.S. needs for more than two years.

Currently BP has active shale positions in the Woodford, Haynesville, Fayetteville and Eagle Ford. With a huge resource base and a deep expertise in unconventional gas, including shale, the NA Gas business provides production value and an ability to transfer technical knowledge to all parts of the globe.

Source BP

The Grimaldi Group becomes the first shipping company in Italy to be awarded the full Authorised Economic Operator (AEO-F) status. The prestigious award was granted by the Italian Customs Authorities in Naples in the areas of Customs Simplifications and Security and Safety, following a special audit made at the Group’s Head Office.

The award results from six months of preparation of the Group’s Safety, Quality and Security Department and certifies that the Grimaldi Group fulfills comprehensive security and safety guidelines laid down by the EU with regard to reliability, solvency, compliance with relevant legal provisions and fulfillment of specific security and safety standards.

Being certified means, among others, lower risk that the flow of goods into and out the EU will be stopped for examination, reduced number of data to be provided for the summary declarations and easier access to authorizations and permits.

The status of the Authorised Economic Operator applies to all economic operators and their business partners playing a role in the international supply chain, i.e. producers, exporters, forwarders, warehouse keepers, customs agents, carriers, importers who are involved in activities covered by the relevant customs legislation and are eligible in terms of reliability and security in the supply chain.

The AEO certification reinforces Grimaldi’s ongoing commitment to quality and reliability in its maritime and logistics services as well as preventive security and safety measures. AEO accreditation is a further sign of the quality of the Grimaldi Group’s processes in creating a secure supply chain based on maritime transport.

Source Grimaldi Group

The globally operating Kuehne + Nagel Group is rolling out KN PharmaChain, a product tailored to the specific needs of the Pharmaceutical- and Health Care industry. KN PharmaChain offers – among other features – door-to-door temperature control, a 24 hour alert system, optional wireless temperature measuring and Best Practice (GxP) standards for facilities, working processes and training programmes.

KN PharmaChain is Kuehne + Nagel’s response to the Pharmaceutical industry’s requirements for effective and proper airfreight transportation solutions. If not correctly handled and transported, pharmaceuticals efficacy may be compromised or rendered completely ineffective, resulting in serious and costly consequences, in particular in case of high value, mission critical and temperature sensitive products. Therefore, the choice of a logistics provider is highly important for Pharmaceutical and Health Care companies as they need partners who understand the nature of sensitive products as well as the strict regulatory rules. They must also be familiar with the logistics challenges in both mature and emerging global
markets.

Four service levels cater for all needs

KN PharmaChain offers four service levels, depending on the grade of specific temperature control requirements and special handling demands of each shipment. Full risk assessments of carrier partners as well as of transport lanes ensure best-in-class services on all routes within the KN PharmaChain network comprising of 58 strategically designated stations. Comprehensive Best Practice (GxP) policies apply for staff, working processes and facilities, and by the end of 2012, all locations will be fully GxP-compliant.

Kuehne + Nagel plays a pioneering role in shipment visibility
As an option, temperature visibility can be provided by the use of active wireless sensors which record and transmit the shipment temperature throughout the entire transport chain. Logistics facilities are equipped with active wireless transmitting technology and customers can view temperature indications directly inside the KN Login online tracking & 2 of 2 tracing tool. Kuehne + Nagel is the first logistics provider to offer a service using active sensors. Additional added-value services include globally available packaging solutions.

Setting new industry benchmarks

Temperature controlled shipments are monitored by the KN PharmaChain CareTeam, operating 24 hours/day and 7 days/week from two locations in Europe and the Americas. An electronic alert system ensures that any disruption in the supply chain will be reported immediately to the CareTeam which is pro-actively tracking all temperature controlled shipments.

Industry expertise and product know-how are key elements of KN PharmaChain. This is why Kuehne + Nagel has award-winning training programmes in place which were developed in cooperation with customers.

“KN PharmaChain is our dedicated, end-to-end supply chain solution for Pharma & Healthcare shipments, either temperature or non-temperature controlled. We have developed this product in close cooperation with customers and partners and are convinced that Kuehne + Nagel once again introduces innovative solutions which will set new industry standards”, explains Tim Scharwath, Executive Vice President Air Logistics of Kuehne + Nagel International AG.

Source Kuehne + Nagel International AG

KOREA's Hyundai Merchant Marine (HMM), ranked 18th biggest among the world's container lines, says it will levy a US$400 per TEU general rate increase from April on cargo moving from China to India, Bangladesh and Sri Lanka.

Earlier this month HMM levied another general rate increase on its China to India service, achieving a satisfactory vessel utilisation level, the company said.

Source Shipping Gazette - Daily Shipping News

 

GERMANY's Hapag-Lloyd has announced it will levy a US$200 per TEU fuel surcharge from April 16 on cargo moving from north Europe and the Mediterranean to ports in the Far East, including Japan.

The carrier said the surcharge, called a "interim fuel participation" surcharge, would apply to both dry and refrigerated cargo. The shipping line said the increase was necessitated by rising bunker costs, and added that the surcharge would be revised "on a monthly basis in line with the Hapag-Lloyd bunker charge".

Source Shipping Gazette - Daily Shipping News


GENEVA's Mediterranean Shipping Company (MSC), the world's second largest container shipping line after Maersk, has issued a notice to trade that it will levy US$100 per container, regardless of size, to cope with a current equipment imbalance.

"To face the extraordinary demand for equipment for cargo destined to Asia" MSC said it was levying the surcharge on all export cargo, including waste, from North Europe, the UK, Scandinavia/Baltic and Russia to the Far East from April 2.

The announcement comes after Maersk issued a statement a week earlier saying that it has stopped taking eastbound cargo bookings from North Europe to Asia on account of insufficient vessel capacity. The shortage was attributed to "a large number of consecutive (westbound) vessel cancellations (from Asia) during the Chinese New Year".

A report, from London's Containerisation International, described these two developments as being "extraordinary", as it points out that at present eastbound vessels are typically less than half full.

It said that according to Container Trades Statistics, eastbound cargo from North Europe to Asia increased by eight per cent in the fourth quarter of 2011, compared to the preceding quarter, to 1,140,392 TEU. More significantly it highlighted cargo volume in January amounted to 377,574 TEU, which it said was less than the monthly average recorded in the fourth quarter of 2011.

"The implication is that, having sorted out westbound freight rate levels, ocean carriers have now turned their hungry eyes to the eastbound trade lane. Others can be expected to follow, therefore, including the Mediterranean, where the dynamics are similar," the report said.

It cited the World Container Index as showing the average all-in rate quoted for spot cargo from Rotterdam to Shanghai was US$541 per FEU, including terminal handling charges at both end, in the week beginning March 19. This, according to the report, "barely covers loading and discharge costs alone". During the same period a year earlier the freight rate was around US$1,050 per FEU, including BAF.

Source Shipping Gazette - Daily Shipping News

TAIWAN's Wan Hai Lines has announced it will increase rates in services from the Far East to India from April 1.

Freight rate increases of US$150 per TEU and $300 per FEU on dry, reefer and specialised cargo from Far East Asia including Japan, Korea, mainland China, Hong Kong, Taiwan and south east Asian countries to East Indian ports.

Source Shipping Gazette - Daily Shipping News

THE Ports of Auckland (PoA) has stopped sacking its dockers, and will re-start labour talks with its union, but will still lock out its 300 unionised dockers from April 6 after an Employment Court ruling resolved little.

The court ruled that the sacking of the dockers was a separate issue from the lock out after a week of recruiting 57 staff to replace the sacked regular dockers. The contract workers will remain in place during the lockout.

Maritime Union of New Zealand (MUNZ) president Garry Parsloe said his members were entitled to an immediate return to work "with all collective employment agreement obligations being met", reported the New Zealand Herald.

London-based International Transport Federation, which represents transport labour at the United Nations, condemned the lockout as "unbelievable, unlawful and practically suicidal" which prevents the regular dockers entering the port area.

ITF president Paddy Crumlin said of the collective bargaining: "This really is a victory for common sense, and a ringing endorsement of MUNZs decision to resist the port company's plans and challenge them in law."

"If the company can genuinely match that willingness - and prove that they are committed to a negotiated solution - then an end to this dispute and the damage it has done to the port's reputation could be within reach," Mr Crumlin said.

Source Shipping Gazette - Daily Shipping News
 

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The magazine JŪRA has been published since 1935.
International business magazine JŪRA MOPE SEA has been
published since 1999.

ISSN 1392-7825

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