IBM and Maersk are launching a new blockchain solution 

IBM and container carrier Maersk have announced about potential introducing of the new blockchain solution for global shipper's communication. The possible cooperation will digitize data between shippers, ocean carriers, customs authorities, ports and freight forwarders. The new technology will save billions of dollars for the industry by transforming supply chain.  Blockchain technology will help to reduce errors and frauds, transit time and shipping process, will improve clarity between parties. Cooperated solution might be available to connect members within shipping industry by the end of this year. 

The Panama Canal has recorded a daily tonnage average of 1.18 mln Panama Canal tons (PC/UMS) in February, 2017.  The previous record of 1.16 PC/UMS was reached in January, 2017. After the inauguration, Panama Canal has seen about 850 neopanamax vessels which passed through the new locks. By nowadays, approximately 53% of all cargo carrying by container vessels are transferred through the canal. Moreover, 11 new liner services are using the canal on regular basis. By April 2017, its planned to send through the new locks the first neopanamax cruise ship with up to 4000 passengers.

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Auction Export wishes you a very happy women's day!

May you keep the blossoming up the world around all. Have a wonderful day!  

Oman Shipping Buying 10 Tankers

Reuters is reporting that Oman Shipping Company (OSC) has secured USD 227 million in debt to finance the purchase of ten tankers.

Structured as a combination of commercial debt and export credit agency financing, the 12-year loan covers the acquisition of 50,000 dwt medium-range tankers built by South Korea's Hyundai Heavy Industries.

According to Reuters, the deal was arranged and underwritten by Societe General.

Mega Ships are Welcome in Manila Port

MICT (Manila International Container Terminal) is getting ready to operate world's largest containerships by expanding port's capacity. 5 post-Panamax giant cranes and 20 rubber tired gantry cranesare to be installed at the port by 2019. The equipment was ordered from  International Container Terminal Services Inc. (ICTSI) and the whole expansion program will cost to Manila port around USD 80 million. The impulse for such a step forward was reaching 2 million TEU mark in port's operation last year, and now the Philippine Ports Authority (PPA) is looking straight ahead to raise intra-Asia trade volumes.