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2019-03-12

New container terminal in the Caribbean Sea

New container terminal in the Caribbean Sea


The construction of the terminal in Costa Rica was accomplished by an association of Van Oord and BAM International.

Terminal completion will enable products to be shipped on transatlantic routes to Asian and  European markets without transshipment.

1 billion dollars were spent on the project and was built on a 40-hectare artificial island. The terminal has more than 600-meter long pier and a container yard with the capacity to hold 26,000 TEUs.

The new terminal will attract a very high percentage of the ships that transit through the Panama Canal. The number of shipping routes that reach the APM Terminals Moín should be increased by 285 percent.

The six gantry cranes and the 29-yard cranes represent an investment of $ 110 million dollars of investments and will allow the terminal to continuously perform an average of 180 movements per hour for loading and unloading. These efficiency standards will significantly reduce ship maintenance times from 40 hours to just 15 hours.

2019-03-11

Major Reform For K Line

Major Reform For K Line

Japan's K Line will undertake a major structural reform in order to increase its income from fiscal year 2019.

The company plans to cancel charter contracts worth around JPY 50 billion (USD 447 million) and reduce its market exposure. They plan to focus on 4 core branches: Dry Bulk, Car Carrier, Energy Resource Transport, and Logistics and Affiliated businesses.

K Line estimates that the reform will cost around JPY 65 billion plus another JPY 15 billion for the cancellation of charter contracts. These moves should better protect the company from market fluctuation.

2019-03-06

Worry about the safety of your car while it's being shipped across the ocean to you? Ocean insurance coverage is the answer.

During the ground transportation from the car’s point of sale to the exit port, all purchased vehicles are insured. If you wish to be one hundred percent sure in the safety of your car during the ocean shipping, you can additionally order ocean insurance coverage.

You can check the insurance coverage rates in our shipping department. Simply send an email to shipping@auctionexport.com or call us +1 416 900 33 03 ext3

2019-03-04

Diana Shipping Profitable Again

Diana Shipping Profitable Again


Greek dry bulk shipowner Diana Shipping got back into the positive column in Q4 of 2018.

The company reported a net income of USD 2.9 million for the quarter ended December 31, 2018, whereas they lost USD 436.9 million in Q4 of 2017. Time charter revenues rose from USD 48.9 million to USD 62.9 million for the quarter and USD 161.9 million to USD 226.2 million for the year.

Also, the company has announced a tender offer to purchase about 5% of its outstanding common stock using cash and cash equivalents due to a favorable combination of Diana's cash situation and stock price.

2019-02-27

Ocean maritime is getting “greener”?

Ocean maritime is getting “greener”?

Due to greenhouse effect, maritime industry is on the same way with the whole world to reduce pollution. Recently it was announced by Dutch shipowners and Netherlands ports of Amsterdam and Rotterdam that they have set a goal to launch methanol as alternative fuel used in maritime deliveries withing few years. European engineers along with shipbuilders and shipowners have made a consortium that has to develop equipment for such alternative fuel in the nearest future.

At the same time world largest shipping company Maersk continues its efforts in order to become carbon neutral company by 2050. Officials of Maersk announced that they have reached 47% reduction of CO2 emission by the end of 2018 since 2007, however the giant plans to achieve 60% level of CO2 by 2020.

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