The Commonwealth of Independent States (CIS) continues to be the largest importer of Indian teas, but Iran emerged as the most promising market this year. According to the latest data available with the Tea Board, the CIS imported 48.23 million kg (mkg) of teas from India till October this calendar and topped the list of…
The Australian Competition and Consumer Commission (ACCC) has instituted Federal Court proceedings against Tasmanian Ports Corporation (TasPorts) for the alleged misuse of market power by the state-owned port owner. According to ACCC, TasPorts, which owns all but one port in northern Tasmania, sought to stop a new entrant, Engage Marine Tasmania from competing effectively with…
Japanese shipbuilder Mitsubishi Shipbuilding Co. has concluded a contract with compatriot shipowner Mitsui O.S.K. Lines (MOL) to build two LNG-fueled ferries, the first such project in Japan. The contract is being finalized a month after MOL expressed its intention to order the ships. Under the contract, the vessels will be built at the Shimonoseki Shipyard…
Shipowners looking to install marine exhaust gas cleaning systems as way of meeting global sulphur cap requirements need to ensure that manufacturers, shipyards and installers are using quality, high-end materials, members of the Clean Shipping Alliance (CSA) 2020 advised. Scrubbers have been identified as one of the top choices for complying with the sulphur cap,…
The European Commission has found Germany’s plans to strengthen the capital position of state-owned Norddeutsche Landesbank – Girozentrale (Nord/LB) to be free of any state aid. The measures involve a direct investment of EUR 2.8 billion (USD 3.1 billion) as well as investments to carry out the necessary structural changes and downsizing of the bank…
Miami-based cruise company Royal Caribbean Cruises Ltd. (RCL) has signed a long-term contract with the Port of Galveston in Texas for a new USD 100 million cruise terminal. As informed, through the public-private partnership, RCL will build the terminal, then lease it from the port for an initial term of 20 years, with four 10-year…
Global port operator DP World has established a Dubai-based marine solutions and logistics company, P&O Maritime Logistics (POML). POLM is the result of DP World’s recent USD 1.1 bn acquisition of Topaz Energy and Marine and its integration with P&O Maritime. As informed, the new company will focus on three strategic segments: offshore, port services and logistics.…
The fast-approaching entrance into force of the global sulphur cap is a change of a magnitude never attempted before on a global basis. Under the new regulation, the limit for sulphur in fuel oil used on board ships operating outside designated emission control areas will be reduced to 0.5% from 3.5%. This is expected to…
French shipping and logistics major CMA CGM Group has signed an agreement with China Merchants Port (CMP) to sell a portfolio of stakes in ten port terminals to their joint venture Terminal Link. CMA CGM plans to cash in USD 968 million from the transaction, which is expected to close in spring 2020, pending approval…
Thane Municipal Corporation (TMC) has completed an interesting pilot where it tested delivery of property tax assessment reports using Blockchain technology. This will help track late payments, dispute resolution, monitor collection targets, identifying non-delivery of bills, and facilitate inter-department coordination. “This technology intervention will go a long way toward thwarting fake documents,” Sameer Unhale, Chief…