AD Ports Group signs agreements for Egyptian ports development
23.03.2023
AD Ports Group signed several agreements to expand its presence and increase its access to ports in Egypt.
AD Ports Group and the Red Sea Ports Authority signed a 30-year concession agreement that allows the Group to develop and operate a multi-purpose terminal at Safaga Port on the Red Sea coast of Egypt.
"Safaga Port will be the first internationally operated port in the Upper Egypt region, bringing cost savings to traders, industries and businesses located in this region," said AD Ports.
Hapag-Lloyd increases rates from Middle East to US
10.03.2023
Hapag-Lloyd announces a new general rate increase (GRI) / General Rate Adjustment (GRA) from the Middle East to the United States for cargo transported in 20’ and 40’ dry, reefer and special containers, including high cube equipment.
The new rate increase will be applicable to all containers gated in full from 29 March 2023 and will be valid until further notice, according to the German carrier.
The GRI will be US$450 per 20' dry container and US$5OO per 40' dry container. Additionally, for 40' high cube containers, there will be an increase of US$500/box.
Hapag-Lloyd noted that it will also implement a GRI of US$450 per 20’ reefer container and US$500 per 40' reefer box.
Furthermore, for 20’ special containers, there will be an increase of US$450/box and for 40’ special containers, there will be an increase of US$500/box.
The geographical scope of this increase is from the Middle East, namely, India, Pakistan, United Arabic Emirates, Bahrain, Oman, Kuwait, Qatar, Saudi Arabia and Sri Lanka, to all the coasts of the United States.
Thailand plans multi-billion-dollar infrastructure investment to boost economy
01.03.2023
Thailand is to invest around US$15 billion in transport infrastructure, including upgrades to its key container port, Laem Chabang, in order to boost economic growth.
The Prime Minister's office said, "The Thai government is currently promoting several large-scale water transport projects, including an industrial port development project in the Eastern Economic Corridor (EEC) district."
It is hoped that building up Thailand's waterway transportation network will boost international trade with the export-oriented Southeast Asian country.
Of the investment amount, roughly US$3 billion will go towards upgrading Laem Chabang, to increase Thailand's export and import cargo transportation capacity. Besides Laem Chabang, the government plans to build and develop one automated container terminal along Bangkok port's West Quay in the future.
To support the deep-sea shipping ecosystem, the government also wants to develop 29 public terminals on the Chao Phraya River to strengthen water traffic safety and develop Laem Chabang into a smart port that has seamless intermodal links with transportation systems such as automobiles and railways.
Despite falling container freight rates, the Thai government has not given up on establishing a national shipping company, and is undertaking a feasibility study.
In an interview with Bloomberg aired today (28 February), Thailand's Finance Minister Arkhom Termpittayapaisith said that these infrastructure projects will insulate the economy from weaker exports.
Besides the port investments, Arkhom said there are plans to build a high-speed railway linking three airports.
Among Southeast Asian economies, Thailand's economic growth stood at 2.1% in 2022, halving from 2021, making it the slowest-growing economy among ASEAN countries.
Two container vessels suffer severe damage after collision in Vietnam
14.02.2023
Two container vessels collided on the Long Tau river in southern Vietnam on 11 February. The two ships and many containers were severely damaged.
The 2,038 TEU Wan Hai 288 and the 920 TEU Resurgence are the two involved vessels. A number of boxes from the first ship were destroyed as the port bow of the vessel was hit by Resurgence, whose bow was crunched in the incident.
According to reports, Wan Hai 288 suffered a grounding incident after the collision and was towed to a nearby repair yard, while Resurgence went to a container terminal at Ho Chi Minh City in Vietnam for inspection operations.
The Singapore vessel, Wan Hai 288, was sailing towards a port in Ho Chi Minh City when it collided with the Bahamian vessel Resurgence, which was going in the opposite direction, according to a report by the Vietnamese newspaper VnExpress.
2M alliance break-up reshuffles deck for Transpacific market
08.02.2023
The upcoming break-up of the 2M alliance is going to lead to a change in the competitive makeup of the deep-sea networks, according to Sea-Intelligence.
More specifically, although the formal break-up will not happen until January 2025, gradual changes are likely to happen during the two-year transition period.
In the hypothetical case that the other two alliances remain intact, and that the orderbook gets delivered on time, the changes in the capacity market share with a 'pure' break-up of 2M on the Transpacific would look like the following graph.
MSC will be stronger positioned compared to Maersk, but it will, still, be slightly smaller than THE Alliance, and the Ocean Alliance which will be in an extremely strong position in the market, according to Sea-Intelligence report.