The US Court finally approved Hanjin's 54% port stake sale. Currently it operates in TTI (Total Terminals International) Seattle and Long Beach port Terminals. The rest 46% already belongs to Swiss Mediterranean Shipping Company, so the Hanjins stake is going to be sold to its affiliate - Terminal Investment Limited (TIL). The sale was approved by the Seoul Central District Court in December and then by the US Bankruptcy Court. 

Hanjin owned stake is USD 78 million ​381-acre Pier T container terminal - the largest terminal of the port. The Long Beach Board of Harbor Commissioners gave a nod to MSC to take it under long-term lease.

Eight Newbuildings for Scorpio Tankers

Monaco-based Scorpio Tankers will take out a loan of up to USD 172 million in order to finance roughly 60% of the market value of eight tankers currently being bulit at Hyundai Mipo Dockyard in South Korea.

The tankers are scheduled for delivery in 2017 and early 2018.

The loan facility is composed of multiple tranches with maturity dates set between six and twelve years.

Scorpio Tankers owns 77 product tankers and charters additional sixteen.

A total of 10 new tankers is under construction and should be delivered to the shipper over the next two years.

Port of Hong Kong reports container volume decrease 

As per recent records, annual container volume has fallen to under 20 mln TEU for the first time in a last decade. In 2016, Hong Kong port took care of 19.58 mln TEU and showed the best year result in December, 2016, handling 1.8 mln TEU. Despite these numbers, port produced 2.5% less of container volumes than in 2015. Its main terminal - Kwai Tsing - made 1,4 mln TEU in a year which is more than 12,7% more than the last year while other terminals saw overall reduction in 2016. 

New LNG Ship Arrives in British Columbia

Canadian ferry owner and operator BC Ferries reported that Salish Orca docked in British Columbia on January 11. The vessel is powered by liquefied natural gas (LNG). The company will take possession of the vessel once it clears Customs. 

The newbuilding is set to start service on the Comox-Powell River route in the spring of 2017. It is the first of three Salish Class ships ordered by BC Ferries and can operate on either LNG or Ultra Low Sulfur Diesel Oil (ULSD).

The ship can carry 145 vehicles and 600 passengers and crew. Its sister ships, Salish Eagle and Salish Raven, are expected to arrive in British Columbia in a few months' time. BC Ferries said that those vessels will begin service in the Southern Gulf Islands later this year. 

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