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Ocean Transportation: Page 169

Over Next Two Years, Growth in Crude Oil Tanker Capacity to Affect Rates

A surge in crude tanker vessel capacity over the next two years will lead to a fall in ship-owner earnings from current highs, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry.

Chemical Tanker Shipping Market Strong Enough to Utilize New Vessel Deliveries

The chemical tanker shipping market has been strongly supported by specialised trades and clean petroleum products (CPP) demand during the second quarter of the year. Although many newbuildings were delivered, the market has been able to absorb the extra tonnage, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.

Quite Aside From Unmanned Aerial Vehicles - What About Drone Cargo Ships?

Drone ships may be the next generation of shipping. Rolls Royce recently launched a $7.2m autonomous ship project intended to pave the way for drone vessels.

Imports Expected to Top Those at U.S. Ports This Time Last Year

Import cargo volume at the nation's major retail container ports is expected to increase 3.6 percent this month over the same time last year as retailers begin to bring in merchandise for the holiday season, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. Imports for the year are expected to be up 4.2 percent over 2014.

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Egypt Opens Expanded Suez Canal, Hopes to Double Number of Ships Transiting Daily

Just one year after its announcement, Egypt's expanded Suez Canal is open for business. Egyptian President Abdel Fattah El-Sisi led the inauguration ceremony, which was attended by several Middle Eastern and European world leaders. The publicly-funded expansion cost about $8.5bn.

Refrigerated Containership Fleet Grows While Specialized Reefer Vessels Decline in Number

The specialised reefer fleet is shrinking and shows no signs of reversing in the future. However, the reefer containership fleet has increased by 15 percent year-on-year and is set to grow 20 percent by 2018, according to Drewry's latest Reefer Shipping Market Annual Review & Forecast.

Matson Funds Improvements in New Alaska Operations

Matson Inc. is increasing its investment in its new Alaska operations, acquired from Horizon Lines Inc. in late May for $469m.

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TNT Begins Flight Between Liege Hub, Tunis

TNT has launched air service between its European hub in Liege, Belgium, and the Tunisian capital of Tunis.

Robust Demand Reported for Warehouse, DC Space Near Top U.S. Seaports

Distribution centers near the nation's top seaports are bursting with consumer goods and other cargo - and that's before the Panama Canal extension opens next spring. Distribution center and warehouse occupancy levels have reached historic highs, while expensive construction and labor costs keep new development sparse in many seaport industrial real estate markets.

Grimaldi Group Enhances Med-West Africa Service

The Grimaldi Group is enhancing its Mediterranean Express Service (MEX), linking ports in the Mediterranean with West Africa.

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CargoSmart Unveils Big Schedules Search Engine

CargoSmart Limited, a vendor of shipment-management software, has created Big Schedules, a sailing-schedule search platform that helps shippers and logistics service providers to manage and visualize their ocean routes.

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On-time Performance in Container Trade Keeps Getting Better

Container service reliability made another steady improvement in June with the aggregate on-time performance for the three key East-West trades rising by 5.7 percentage points to extend the data-series record to 77.3 percent, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.

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