THE UK P&I Club is reorganising its structure to establish UK Europe as the sole provider of direct insurance to UK Club members.
Under the new structure, the Bermuda-based UK Club will cease to write direct insurance business. Its existing direct business will transfer to UK Europe. UK Bermuda will become the re-insurer of UK Europe. It will continue to be the holding company controlled by the club's members, who are shipowners with vessels insured by the Club, the association announced.
By reducing the number of separately regulated insurers from two to one, the UK Club aims to streamline governance, reduce compliance costs and manage more efficiently the club's solvency capital requirements while meeting the impending Solvency 2 regulations for insurers in the European Union.
Solvency II is an EU Insurance Directive which will replace Solvency I, the current Insurance Directive which has been in place since 2002. It governs the amount of regulatory capital an insurance undertaking is obliged to hold against unforeseen events, otherwise known as the solvency margin.
The reorganisation will not affect UK Club members' terms of entry, cover or premium. They will continue to be members of UK Bermuda but will be insured by UK Europe.
The new structure will take effect from February 2013 and so does not impact members in the 2012 policy year.
At present, many members are insured directly by UK Bermuda through its respective branches in the UK, Hong Kong, Singapore, and Japan. However, a substantial number are insured by the wholly-owned subsidiary, UK Europe. Both UK Bermuda and UK Europe are reinsured by the UK Club's wholly-owned subsidiary International P&I Reinsurance Company (IPIR).
UK Bermuda will continue to be the holding company, controlled by its members, and will also become the reinsurer of UK Europe. IPIR will cease underwriting while UK Europe will establish new branches in Hong Kong, Japan and Singapore.
The transfer of liabilities from UK Bermuda to the head office UK Europe will be carried out by a legal process known as a Part VII transfer under the terms of the UK Financial Services and Markets Act 2000. Under the terms of the act, the transfer process is supervised by the English High Court together with the UK Financial Services Authority and an appointed "independent expert".
The Bermuda Supreme Court has a supervisory role in the transfer of interests. In addition, the local Asian regulatory authorities will supervise the transfer of liabilities of the other branches.
Source Shipping Gazette - Daily Shipping News
TNT EXPRESS, recently sold to US-based United Parcel Service (UPS), has opened its new Hong Kong regional hub at Asia Airfreight Terminal (AAT), indicating that UPS will make its base here after the merger wins regulatory approval.
There was talk on the sidelines of the 20,000 jobs that might be lost worldwide through the merger, but hope was expressed that TNT's Asian operations were in a better position because UPS, the world's largest international package shipper by revenue ahead of FedEx, is comparatively weak in Asia.
The Dutch daily Het Financieele Dagblad reported that TNT chief executive Marie-Christine Lombard said the loss of up to 20,000 jobs is possible, adding that lay-offs would be evenly spread between TNT and UPS.
TNT employs 77,000 people; UPS has a head count of 400,600.
TNT denied a report about the potential loss of up to 20,000 jobs, reported Dow Jones. "It's too early to comment about possible job losses," said TNT spokesman Job van Harmelen, adding that the number of potential job losses mentioned makes no sense."
Having invited and disinvited the media to the Hong Kong official opening, the customers-only tour continued with dignitaries giving speeches.
"The regional hub is a state-of-the-art logistics facility that will cater for the increasing cargo flow in the region as well as generate greater connectivity between Asia Pacific and Europe using Hong Kong as a base," declared Hong Kong Transport and Housing Secretary Eva Cheng at the opening ceremony.
Said TNT regional managing director Michael Drake: "The opening of our new Hong Kong regional hub is a symbol of our commitment to our customers and our confidence in the long-term growth of the Pearl River Delta region as one of the world's leading manufacturing and trading hubs."
The 7,380-square-metre (80,000-square foot) facility incorporates the most advanced sorting and security technology and features in-house customs clearance, said the TNT statement.
"It will sit at the centre of a highly efficient air and road network that includes air links to TNT's European hub at Liege, Belgium, and to the rest of Europe, as well as TNT's road networks in China and Southeast Asia," TNT said.
Able to handle up to 600 tons of cargo daily, the Hong Kong hub will enhance TNT air services between Asia and Europe and its unique Asia Road Network, which offers day-definite delivery service from China through to Southeast Asia.
TNT Express operates a network of regional hubs globally, in Hong Kong, Singapore, Perth and Liege.
Source Shipping Gazette - Daily Shipping News
INDIA has forbidden airlines to comply with the European Union carbon tax, joining China in barring its airlines from paying or providing tax need in tax collection, reports Agence France-Presse.
Indian Civil Aviation Minister Ajit Singh said the "imposition of carbon tax does not arise" because Indian airlines will refuse to disclose emissions data, upon which the EU Emissions Trading Scheme is based.
"Though the European Union has directed Indian carriers to submit emission details of their aircraft by March 31, no Indian carrier is submitting them in view of the position of the government," said Mr Singh.
India and China have said the EU tax is a unilateral trade levy disguised as an attempt to fight climate change. China has also ordered its air carriers to not buy long-haul European made Airbus aircraft, having recently told Hainan Group-owned Hong Kong Airlines from continuing with such a purchase.
Airbus CEO Thomas Enders called for a freeze on the EU tax, saying that it would otherwise cost thousands of jobs. "Delay it, freeze it for one or two years," he said, according to Dow Jones, adding that the scheme "will do nothing but induce strife, retaliation and counter-retaliation."
But the EU climate change bureaucracy holds fast to their plan, having been backed up by the European High Court that quashed a US plea. Bureaucrats insist that the cost to airlines is manageable. Earlier this month the head of the Airbus parent company EADS said Beijing had already begun to block purchases of Airbus planes by Chinese companies in reaction to the dispute.
A key objection is that the EU scheme does not limit itself to taxing carbon emissions over EU airspace, but for the whole flight. European climate change officials say this is not unusual because conditions are often imposed on flight by one country and enforced in another, citing the American demand that passengers remove shoes for inspection before boarding on US-bound flights as an example.
Source Shipping Gazette - Daily Shipping News
QANTAS and China Eastern Airlines have announced plans to launch a Hong Kong-based budget carrier to tap into Asia's booming budget-airline market, Reuters reported.
China Eastern Airlines and Qantas' low-cost unit, Jetstar, will form a 50:50 joint venture and invest US$198 million over three years from mid-2013. The initial fleet of three Airbus 320s is set to expand to 18 A320s by 2015.
The new carrier will fly between China, Japan, South Korea and southeast Asia and other destinations. Qantas CEO Alan Joyce said Jetstar Hong Kong is an "historic opportunity to continue the successful expansion of the Jetstar brand in this region."
Nomura airlines analyst David Fraser said the alliance would help Qantas gain a foothold in a market where only about five-10 per cent of capacity was served by budget carriers, compared with half in Australia.
Source Shipping Gazette - Daily Shipping News
CONFIDENCE among air forwarders in March for all trade lanes hit 42.2 below the no-change 50 mark, according to the Stifel Nicolaus index, a reading attributed to a seasonal decline in volumes, reported the UK's Transport Intelligence.
This new monthly index, conducted by Ti for Stifel Nicolaus, intends to provide an assessment on confidence among air and sea forwarders on key trade lanes. Ti conducted the survey in the first week of March on a worldwide basis.
Stifel Financial Corp is brokerage and investment banking firm, established in 1890 and based in St Louis, Missouri.
Ti also reported that over the next six months conditions in the air freight market are expected to improve with the index anticipated to rise to the 58.7 level.
Air forwarders were least confident on the Europe to Asia trade lane (39.2) and most upbeat on Europe to US routes (46.6).
Said Stifel Nicolaus director David Ross: "While current international freight trends are soft, we expect a return to global growth around mid-year. This new index should be especially useful in seeing how Europe emerges from its current financial problems as a player in the global supply chain."
The index is calculated based on responses from a monthly survey, completed by logistics professionals. The survey questions participants on current volumes year on year and expectations forthe next six months. The total index covers Europe to Asia, Asia to Europe, Europe to the US and the US to Europe.
An index value of 50 indicates no change in the volumes of companies polled while above 50 indicate higher volumes with below 50 showing lower volumes. For March, there were 414 survey participants, with a minimum of 265 on any trade lane, said Ti.
Source Shipping Gazette - Daily Shipping News
On 26 March Ak Bars Aero airline launched direct flights from Vilnius to Saint Petersburg. The flights to the second largest city in Russia will be operated twice a week by a new Canadian jet aircraft CRJ200LR which can accommodate 50 passengers. It has been the first flight from Lithuania to Saint Petersburg since 2005 when Lithuanian Airlines operated direct flights to this city for several months by carrying the average of 320 passengers per month.
“According to a historically established tradition, a train trip is the most popular way to reach Saint Petersburg from Lithuania – basically, there has been no regular communication by air with this city for 20 years,” says VIA Managing Director Tomas Vaišvila. “From now on, people will have an opportunity to reach Saint Petersburg by air in approximately 1 hour and 20 min for LTL 520 round-trip”.
The aircraft will take off from Saint Petersburg on Mondays and Thursdays at 10:30 (local time) and land in Vilnius at 10:50. After taking off from Vilnius at 11:20, it will reach Saint Petersburg Airport at 12:40.
Founded in 1953, Ak Bars Aero airline operated flights between Bugulma and Kazan by the name Bugulminskoe Aviapredpriyatie. In 2009 the airline became a part of Ak Bars Holding, changed its name and launched flights to foreign countries. Ak Bars Aero currently offers flights on 14 routes, two of them to European cities: Munich and Vilnius. The airline also operates flights to Baku, the capital of Azerbaijan, and has an intensive schedule of flights between the largest cities in Russia – Moscow, Saint Petersburg, Kazan, Sochi, Novosibirsk, Penza, etc.
Saint Petersburg is already the 38th airport to be reached by regular direct flights from Vilnius in summer 2012.
Source VIA
After a pause of 9 years, Russia’s largest airline Aeroflot made its return to Vilnius Airport (VIA) by connecting the capital of Lithuania to Moscow Sheremetyevo Airport with its daily flights. The first flight on the route from Moscow to Vilnius was operated on 25 March, while the first flight from Vilnius to Moscow took place this morning.
According to VIA Managing Director Tomas Vaišvila, the flight is adjusted to the needs of business clients and expands the opportunities of frequent travellers to reach the capital of Russia: “Passengers from Vilnius Airport to Moscow can already choose one out of 25 direct flights per week, whereas the new Aeroflot’s route is convenient for people travelling on business purposes – the time of departure and arrival enables passengers to spend the entire business day in Moscow and to return to Lithuania in the evening”. The new route marks the beginning of more intensive business and friendly relations between the two countries, Aeroflot’s press release says.
Aeroflot’s aircraft will take off from Vilnius Airport at 5:40 a.m. and land at Moscow Sheremetyevo Airport at 8:05 a.m. Moscow time every day 7 days a week. The aircraft will make a daily return to Vilnius at 22:15 after taking off from Moscow Sheremetyevo Airport at 21:40 local time. The expected duration of flight is 1 hour 35 min.
The head of Vilnius International Airport notes that this flight opens new possibilities for passengers, through connecting flights, to reach all major Russian cities from Vilnius (Yekaterinburg, Arkhangelsk, Sochi, Nizhny Novgorod, Vladivostok, Perm, etc.), the cities in CIS member countries – Astana, Almaty, Tashkent, Duchanbe, etc. Also, from now on Aeroflot offers an opportunity to reach remote Asian cities from Vilnius through Moscow directly – Beijing, Tokyo, Bangkok, Hong Kong, etc.
OJSC Aeroflot – Russian Airlines will operate daily flights to Sheremetyevo Airport by new Russian aircrafts SSJ-100. With a two-class cabin configuration, the aircraft will accommodate 87 passengers (12 seats in business class and 75 seats in economy class).Aeroflot’s fleet consists of 116 aircrafts.
From now on, all major airports in Moscow can be reached from Vilnius: UTair operates twice-a-day flights to Vnukovo Airport; Transaero Airlines offers flights to Domodedovo Airport 4 times a week. Sheremetyevo Airport – the new Aeroflot’s destination airport – is situated in the north-west of Moscow.
Source Vilnius International Airport
2012-03-26
Bullish on high-growth East African markets as new terminal and Inland Services investments planned; Mombasa, Dar es Salaam are targets
APM Terminals’ annual Africa-Middle East Region’s Leadership meeting was held in the Kenyan Indian Ocean port city of Mombasa to emphasize a new direction for expansion of the APM Terminals Global Port, Terminal and Inland Services Network: East Africa.
“There are great business and growth opportunities in East Africa and this is not new territory for APM Terminals” said Mr. Peder Sondergaard, CEO for the Africa-Middle East region, who noted that Logistics Container Centre Mombasa (LCCM), part of APM Terminals Inland Services, has been in operation since 1997. He and other senior leaders including CEO Kim Fejfer recently visited Kenya and met with Kenya’s Prime Minister Raila Amolo Odinga and Minister of Trade Amos Kimunya for high level talks, and hosted meetings with local business and industry leaders in Mombasa and the Capitol of Nairobi.
APM Terminals, one of the largest port operators in Africa, currently operates nine ports in eight West African countries, as well as operations in both Morocco’s Tanger-Med port, and Egypt’s Suez Canal Container Terminal and an extensive Inland Services network across the continent, but no port operations on the continent’s Indian Ocean coast.
Although the International Monetary Fund has projected a 5.5% economic growth rate for sub-Saharan Africa this year, and a 5.3% increase for 2013, obstacles to trade, particularly concerning cargo movements between neighboring countries, will prevent the full benefit of such economic progress from being felt across the African population.
The World Bank Report “De-Fragmenting Africa; Deepening Regional Trade Integration in Goods and Services” released in February, has estimated that “in sub-Saharan Africa it takes, on average, 38 days to import and 32 days to export goods across borders, whereas the number of days required is significantly lower in other regions” and that “the cost of trading across borders is the highest in the sub-Saharan Africa region, over twice as high compared to East Asia and OECD countries”.
Investment in modern cargo transportation infrastructure and services can help to alleviate these impediments, and foster higher rates of trade and economic development. APM Terminals’ Inland Services operations in East Africa span 12 countries currently including Kenya, Uganda and Tanzania, as well as parts of the Democratic Republic of the Congo and Zambia.
Mombasa, the busiest port on the East African Coast, handled approximately 770,000 TEUs in 2011, up from 695,000 TEUs in 2010, and has enjoyed a compounded annual growth rate (CAGR) of 15% during the preceding half decade. About half of this traffic is destined for neighboring land-locked countries such as Uganda, South Sudan and Rwanda.
APM Terminals is in talks with the Tanzanian Ministry of Transport and the Tanzania Ports Authority (TPA) to operate at the Port of Dar es Salaam, which handled 475,000 TEUs in 2011.
“We believe it would only benefit the port and the country to introduce a leading global port operator at Dar es Salaam, which would introduce healthy competition to the benefit of all port users” said APM Terminals’ Africa-Middle East Regional Vice President for Business Development, Hans-Ole Madsen.
Opportunities also exist beyond the Port of Dar es Salaam; Emmanuel Mallya, the Chairman of the Tanzania Shipping Association Chairman and a board member of the TPA told the Daily News of Tanzania “We need investors who will look at larger port expansion projects not necessarily at Dar es Salaam Port but also look elsewhere”, citing potential new port development project locations at Bagamoyo, Mbegani and Mwambani in the port city of Tanga, in the Tanga region of northern Tanzania, which borders Kenya.
“We are very interested in participating in and contributing to the high-growth potential of the Ports of Mombasa and Dar es Salaam, and are eager for the opportunity to expand our Global Port and Terminal Network into East Africa” added Mr. Sondergaard.
Source APM Terminals
China’s leading concrete pump manufacturer Zoomlion is continuing to choose Scania’s trucks as a platform for its largest, most efficient mobile concrete pumps. In addition to the 375 trucks being delivered by April, the company has now ordered 435 more trucks that will be delivered before the end of June.
“The year has started very well. The deliveries to Zoomlion alone mean that our sales volume during the first quarter of 2012 is at about as high as during the full year 2011,” says Peter Sjöblom, Managing Director of Scania’s Chinese sales company.
The partnership between Scania and Zoomlion is advancing smoothly. Scania’s truck chassis have been increasingly customised to facilitate and streamline Zoomlion’s work of fitting the trucks with equipment, i.e. superstructures. In close customer-supplier cooperation, Scania’s trucks have also been dimensioned to be able to carry and transport even longer concrete placing booms.
“Scania's strong position as a supplier of trucks to the premium segment for concrete pumps also represents a success for our entire organisation’s cross-functional working method,” says Mr Sjöblom.
Scania has delivered trucks to Zoomlion since 2008. The trucks are fitted with Scania’s 6-cylinder 420-470 hp engines. The pumps are used in the construction of high-rise buildings and bridges, for example.
In order to ensure high uptime, Scania China has trained personnel at Zoomlion’s own service workshops and has also established special teams of service technicians who can assist in the event of operational disruptions.
Source Scania
- Pennecon Energy Hydraulic Systems authorized marine crane dealer
- Increasing presence on the North American market
- Service and support in Eastern Canada
PALFINGER MARINE is strengthening its presence in Canada due to the continuing positive development on the North American market. In Pennecon Energy Hydraulic Systems (PEHS), we have found a partner with many years of experience in hydraulic marine products that enjoys an excellent reputation as a specialist for rapid and reliable solutions. Karl Oberreiter, Head of PALFINGER MARINE Cranes, says, “We welcome PEHS and all its employees into the PALFINGER MARINE network. We are very pleased to have found a partner that shares our commitment to quality and customer service.”
In future, with PEHS as a new member of the worldwide distribution network, PALFINGER MARINE cranes and its products will have the best representation on the strategic east coast of Canada. Eddy Knox, General Manager of PEHS, is also looking forward to the shared future,”PALFINGER MARINE and PENNECON complement each other very well. In future, by combining PALFINGER’s broad range of marine cranes with our expertise, we will be able to provide our customers with an even more comprehensive service.”
Source Palfinger Marine- und Beteiligungs GmbH
The Marine Stewardship Council (MSC), reiterating its commitment to strengthen global communication, today unveiled a microsite in the Portuguese language that is linked to its main London-based portal (www.msc.org). This is the thirteenth language site. The move shows a growing commitment not only to Portugal in the European region, but also to Brazil in the Americas region.
Brazil has emerged as the leading South American economic power with nearly 200 million people. It is the largest country in South America, both in geographical area and population, and is the world’s fifth largest country.
There is increasing interest on the part of Brazilian fisheries to enter the MSC program. The MSC employs two representatives in South America; Rodrigo Polanco who works in Spanish speaking Latin America, and Laurent Viguie in Brazil.
Portugal is recognized as one of the biggest seafood consumer countries in the world. Development of the MSC in Portugal is promoted by the MSC Iberian office based in Madrid. Laura Rodriguez, Country Manager and Carlos Montero, Responsible for fisheries are the MSC Team for Spain at Portugal. There is one Portuguese fishery in the program and 49 companies certified for Chain of Custody, mostly canning companies. More information available in Portuguese will facilitate the awareness on the program in the South of Europe and the engagement of more fisheries and seafood companies in Portugal.
The MSC main website portal is an information-rich resource that is used by journalists, scientists, companies, consumers, policy makers, and anyone seeking information about the organization.
Source MSC
2012-03-26
The Board of Directors of CMB met pursuant to the provisions of the Belgian Code of Companies relating to the existence of conflicts of interest and authorised the company to acquire the dry bulk assets of Delphis on the basis of current market values. Delphis is a subsidiary of SAVERCO, one of CMB’s reference shareholders.
The acquisition will include a 50% participating interest in the joint venture company Ocean Capes Limited, owner of the capesize vessels Mineral Subic (2011-179.397 dwt), Lake Dolphin (2011-179.418 dwt) and Bulk Canada (2012-179.397 dwt). The remaining 50% will be held by the joint venture partner Boxlog.
The Lake Dolphin and the Bulk Canada are on bareboat charter to CMB and Boxlog, respectively. The Mineral Subic is operated by the joint venture and is currently on a ten year time charter to STX Panocean (Korea).
The Lake Dolphin is on time charter to Louis Dreyfus Armateurs also for a ten year period.
CMB will also acquire 100% of the shares of Blue Dolphin Shipping Limited owner of the handysize vessel Rio Negro (1999-20.501 dwt).
The overall price for the acquisition of 50% of Ocean Capes Limited and 100% of Blue Dolphin Shipping Limited amounts to USD 9 million and is based on the current market value of the vessels and of the two time charter contracts.
Source CMB
2012-03-26
The Vilsund Blues East Jutland Blue mussel fishery has been certified against the Marine Stewardship Council’s (MSC) [1] environmental standard for sustainable fishing, thereby proving its activities to be sustainable and well-managed. This is the second fishery to become certified as part of the Danish company’s continuous commitment to sustainable fishing. The products from the fishery will now be eligible to carry the internationally recognized, blue MSC ecolabel, which helps consumers make sustainable choices in stores.
Commitment to sustainable fishing practices
To successfully complete the rigorous third-party assessment, the fishery had to demonstrate healthy mussel stocks, sustainable ecosystem impacts, and an effective fisheries management system. The independent team of expert scientists did not identify any significant weaknesses but set two conditions, namely to produce a research plan and to continue to provide information for adequate monitoring of the stock.
About the fishery
The certified blue mussel dredge fishery operates in the southern Kattegat year-round. Vilsund Blue undertakes self-management of the fishery, voluntarily harvesting less than the quota allows. Last year the company harvested only 3100 MT out of a quota set at 23 000 MT, and the mussels were then sold preserved, fresh or frozen, mostly to markets in mainland Europe
The fishery is managed at a national level by the Danish Commission of Commercial Fisheries with members from the Ministry of Food, Agriculture and Fisheries/ Fisheries directorate, as well as local councils.
Vilsund Blue says
“We are happy that our effort to be and to remain sustainable now is something we proudly can announce loud and clear,” says Mr Sören Mattesen, Vilsund Blue.
Demonstrated commitment
“Vilsund Blue is continuing to demonstrate its commitment to sustainable fishing practices through the MSC certification of this blue shell mussel fishery. We are very happy about its staunch support of the MSC programme and look much forward to seeing MSC-labelled mussels from this fishery on the market”, says Minna Epps, Manager Baltic Sea Region, MSC.
Source MSC
DANISH global container giant Maersk will increase rates US$500 per TEU on dry shipments on April 15 from the Far East to the west coast of South and Central America with rates rising $1,250 on 45-footers.
From the Far East Asia to the Caribbean the rates will go up by $560 per TEU and $800 per FEU. Maersk will also raise rates from Far East Asia to Puerto Rico by $560 per TEU and $800 per FEU.
From Far East to the US and Canada rates will increase $320 per TEU, $400 per FEU and $450 per 40-foot high cube container.
Maersk also said it would apply a $150 per TEU general rate increase in the trade from the Far East (excluding Japan) to India, effective April 1.
Source Shipping Gazette - Daily Shipping News
SPOT rates from Shanghai to the US west coast rose 1.5 per cent to US$2,021 per FEU last week and east coast rates were up 2.7 per cent to $3,204 per FEU, according to the latest Shanghai Containerised Freight Index (SCFI).
The latest hike on the US-bound trade from Shanghai marks the second straight week of increases on the trade lane.
Asia-Europe and Asia-Mediterranean rates held steady at $1,371 per TEU and $1,376 per TEU, respectively, after a series of dramatic rises earlier in the month.
Across all trades covered by the index the SCFI rose 0.6 per cent to 1,230.18 points.
Source Shipping Gazette - Daily Shipping News
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