Dear Valued members,

In view that the Bayonne port will no longer accept cars and since no new announcement has been made of the new NY terminal; we will be rerouting and giving quotes out of the closest terminals such as Baltimore and Rhode Island. Please note there might be a slight price increase due to the longer distance among ports.

Thank you

USD 180 Million Deal for K Line  

Japan’s Kawasaki Kisen Kaisha (K Line) has secured a USD 180 million refinancing deal for two of its liquefied natural gas (LNG) vessels, the Arctic Voyager and the Arctic Discoverer.

The 140,000 cbm ships are currently chartered to Statoil ASA of Norway. They are being used in the southern Barents Sea, transporting LNG cargo to Spain and US. 

According to the legal adviser on the matter, the loan was agreed with Japan’s MUFG Bank, Development Bank of Japan Inc. and the French Societe Generale. 

ONE’s 1st Ultra Large Boxship 

Joint venture between Japanese carriers K Line, MOL and NYK, worth USD 3 billion, launched its container shipping business on April 1.

The first magenta containership of the Japanese merged container shipping service, Ocean Network Express, has been launched at Imabari Shipbuilding in Japan.

The 14,000 TEU ship is named ONE Manato and will now undergo final touches before it gets delivered in December 2018, data from VesselsValue shows.

It is the first tailor-made boxship for the company, featuring the magenta livery and ONE logo on its hull, as the current fleet is comprised of a combination of container vessels that have been serving the Japanese trio respectively.

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Egypt Started New Terminal Construction

Egypt port authorities have launched a project of completely new multipurpose shipping terminal at Damietta port. It's scheduled to be completed in 18 months and designed for general cargo, dry bulk and liquid bulk. The new facility will be 630 m long and 17 m deep with total area of 75 square meters. The new terminal will handle 4 million tons of cargo annually and is expected to bring over USD 9 million revenue each year. Also it will reduce queues and waiting time at berth.