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Tianjin Container Terminals Merge | Brazil Modal

Illustration. Source: Pixabay under CC0 Creative Commons license

Under the agreement signed on June 30, Tianjin Port Container Terminal (TCT), which is wholly owned by Tianjin Port Holdings, will merge with Tianjin Five Continents International Container Terminal (FICT) and Tianjin Orient Container Terminals (TOCT).

As informed, TCT will succeed all assets, business, credits, debts and employees of FICT and TOCT. The two units will be deregistered as legal entities and their shareholders will hold equity interest in TCT.

Following the merger, TCT, as the surviving entity, will be 76.68% owned by Tianjin Port Holdings. An additional 10.01% stake will be owned by COSCO Ports (Tianjin) Limited and 6% by China Shipping Terminal Development (CSTD), both of them being subsidiaries of COSCO Shipping Ports.

The remaining 7.31% stake in TCT will be owned by CM Terminals.

The completion of the merger is subject to relevant conditions.

With the merger, the parties aim to optimize the allocation of resources, enhance the unified management of the terminals, lower operational costs and increase the overall competitiveness of TCT and its efficiency, COSCO Shipping Ports said.


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PM said eyeing free trade deal with South Korea, sans West Bank and Golan

Prime Minister Benjamin Netanyahu is readying to sign a free trade agreement with South Korea, although the pact would not include East Jerusalem, the Golan Heights, or Israeli settlements in the West Bank, according to a television report Monday.

Israel has long protested against countries applying regulations that it deems discriminatory against Israeli enterprises in the contested areas.

Sources involved in the trade negotiations told Channel 13 that Netanyahu is hoping to travel to Seoul by the end of the month to ink the deal, and would also like to squeeze in a trip to Japan, which he last visited in 2014.

According to the report, Israel has in the past held back from signing the trade agreement with South Korea because of the excluding clauses. Although Israel is now prepared to sign the agreement, it will include a disclaimer stating that the paragraph excluding these territories does not alter their status in Israel’s view. Israel has used the clause in other similar agreements, including with the European Union, Channel 13 reported.

Palestinian workers on November 11, 2015, at a date packaging factory in the Jordan Valley in the West Bank. This produce will be labeled if exported to the EU as ‘Product of the West Bank (Israeli settlement)’ (Melanie Lidman/Times of Israel)

The trade deal would be worth billions and increase Israeli exports to South Korea while reducing the cost of the country’s production for Israelis. With national elections scheduled for September 17, a trade deal could also boost Netanyahu’s campaign by bolstering his foreign policy successes.

After capturing the territories in the 1967 war, Israel annexed East Jerusalem and extended Israeli sovereignty to the Golan Heights, moves not recognized by the broad international community. Palestinians want the West Bank for a future state with East Jerusalem as its capital. Syria continues to demand Israel return the Golan Heights.

Earlier this year US President Donald Trump broke ranks with the international community by recognizing Israel’s sovereignty over the Golan Heights. In 2017, the US president recognized Jerusalem as Israel’s capital.

President Reuven Rivlin, who began an official visit to South Korea this week, on Monday met with his South Korean counterpart, Moon Jae-in, and the two leaders signed agreements for increased cooperation in the fields of energy and education.

President Reuven Rivlin, left, speaks to South Korean President Moon Jae-in during their meeting at the presidential Blue House in Seoul, South Korea, July 15, 2019 (Jung Yeon-je/Pool Photo via AP)

Israel and South Korea established diplomatic relations in 1962 and Israel opened an embassy in the country in 1992.


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ZIM Expands Partnership with Maersk, MSC | Brazil Modal

Illustration. Source: PxHere under CC0 Creative Commons license


Specifically, ZIM has now decided to boost ties with 2M on the Asia-US Gulf trade.

The new agreement includes two new strings — ZGC – ZIM US Gulf Central China Xpress and ZGX – ZIM US Gulf South China Xpress.

A total of ten 6,500 TEU vessels will be deployed in the first service, with the following rotation: Ningbo, Shanghai, Busan (Panama Canal Transit), Houston, Mobile, Miami, Freeport, (Panama Canal Transit), Araijan, Busan.

The first sailing is scheduled from Ningbo on August 18, subject to regulatory approval.

Another ten 4,500 TEU boxships will be deployed in the second abovementioned service which will have the following rotation: Xiamen, Yantian, Busan (Panama Canal Transit), Houston, Mobile, Tampa, Manzanillo, (Panama Canal Transit), Balboa, Busan.

The first sailing is planned from Xiamen on August 16.

As explained, the new services, catering for both Central and South China and South Korea offer direct connections to major ports in Asia and the US Gulf.

“This is the third phase of our tightening cooperation with the 2M Alliance, now extending to four major trades,” Eli Glickman, ZIM President and CEO, commented.

“We are very pleased to further strengthen our portfolio and enhance our strategic cooperation with the 2M Alliance on this important trade, in which ZIM will be a vessel operator. The two new lines offer better port coverage in the growing US Gulf market, excellent transit time both for imports and exports,” Nissim Yochai, ZIM EVP Pacific Trade, said.

The new cooperation follows previous agreements on Asia – US East Coast, operating since September 2018, and on Asia – Pacific North West and Asia – Mediterranean trades, operating since March 2019.


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'Iran's foreign trade not determined by INSTEX'

TEHRAN – The acting head of Iran's Trade Promotion Organization (TPO) said Europe's Instrument in Support of Trade Exchanges (INSTEX) is only a …


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Global Energy Ventures Selects CIMC Raffles to Build CNG Ships | Brazil Modal

Illustration. Source: Pixabay under CC0 Creative Commons license


The LOI is based on a firm order for four 200MMscf CNG ships with the option for GEV to order up to an additional four ships.

After signing the LOI, the parties intend to enter into a shipbuilding engineering, procurement & construction (EPC) contract, employing GEV’s CNG Optimum design.

According to GEV, the proposed contract price range is USD 135-140 million per ship.

As reported in April 2019, three shipyards completed comprehensive technical specifications employing the CNG Optimum design approved by the American Bureau of Shipping. This followed a targeted selection process led by GEV Director Jens Martin Jensen, and run over the past 12 months supported by the company’s shipbroker Clarksons Platou and SeaQuest providing ship engineering experience to assist in finalizing the technical specification.

“They (CIMC Raffles) are the logical choice for GEV given their scale of operations to support a multiple ship order, their history of building the only CNG ship to date, and a track record in successful EPC delivery,” Jens Martin Jensen, Non-executive Director at GEV, said.

“Together with our advisors Clarksons and SeaQuest, we continue to focus on our preferred shipyards to refine their technical specification and capital cost improvements, and work towards a final draft contract. Executing our first LOI with a respected shipyard to deliver our first CNG Optimum Contract is indeed a key milestone for GEV representing a major de-risking event,” he added.

Under the proposed shipbuilding contract, the CNG Optimum ships will be designed, procured, built, tested, and delivered by the shipyard. They will be delivered on a thirty-month construction schedule for the first ship, then every four months for the following three firm ships.

The newbuilds will be capable of operating for the intended and defined waters for the purpose of delivering CNG from gas supply to gas buyer in generally accepted ocean shipping conditions.

“The culmination of 12 months work by our shipping team will now accelerate GEV’s regional gas supply agreements that are being progressed across multiple regions. Our target projects are either seeking to commercialise stranded gas assets, commercialise associated gas production, or provide a transport solution to high growth markets with bankable long-term off-take customers in place. Our ship capital cost for the 200MMscf is transformational for CNG to become a viable alternative to FLNG or sub-sea pipelines,” Maurice Brand, Executive Chairman and CEO, added.


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foreign trade buyers

Directorate General of Foreign Trade (DGFT) organisation is an attached office of the Ministry of Commerce and Industry and is headed by Director …


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BBC Oregon Refloated after Grounding off Newfoundland | Brazil Modal

Image Courtesy: Canadian Coast Guard


According to the Canadian Coast Guard, the CCGS Edward Cornwallis and the tug Beverley M towed the 138-meter-long ship off its grounding location to a safe anchorage in the harbor.

There were no reports of injuries or pollution following the incident.

The officials conducted an assessment of the vessel, whereby no damages to the hull structure were found.

Operated by BBC Chartering, the general cargo ship ran aground shortly after unmooring in Newfoundland, Canada.

According to AIS data provided by VesselsValue, the ship is currently at anchor in Bay Bulls harbor.


Source: World Maritime News


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Writing a New Chapter in Opening Up

In US dollars, foreign trade increased by 14.5% per year, utilized foreign investment totaled over 2 trillion dollars, and outward direct investment …


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APM Terminals Invests in Barcelona Terminal | Brazil Modal

Illustration. Image by Tobias A. Müller on Unsplash

This was announced last week while APMT Barcelona was providing an overview of its short and middle-term projects.

“These recent investments are part of APM Terminals’ strategy to modernize its current fleet and increase equipment capacity and productivity, as well as improving safety at the Barcelona terminal,” Narcís Pavón, General Manager of APM Terminals Barcelona, explained.

“We have renewed our commitment to the Port of Barcelona, equipping ourselves with the latest technology necessary to service the most modern container ships that currently stopover in the Catalan capital.”

The most recent investment was the acquisition of 29 new straddle carriers, which will help APM Terminals Barcelona improve efficiency once operational this month.

The terminal also took delivery of two new Super Post-Panamax cranes in April this year. The two new ship-to-shore cranes, which are now operational, allow operations with ships of up to 23 containers across the beam. In addition, they are capable of lifting 100 tons and can also operate in TWIN mode, which allows the terminal to further increase efficiency.

This year the terminal also increased its reefer capacity by 31% through the installation of reefer racks that enable reefer containers to be stacked four high. The terminal now has a total of 632 connections, which allow for the expansion and increased rotation for equipment connections as well as complementary services.

At the same time, the electrical capacity of the terminal was also improved, leading to a reduction in CO2 emissions of 600 tons per annum. This is the largest investment of its kind made in the Barcelona terminal.

Also in support of high operational standards related to efficiency and security, APM Terminals launched real-time container tracking and vessel schedules via its website.

In June, APM Terminals Barcelona also received Authorised Economic Operator (AEO) status for protection and security from the Spanish Tax Agency. This certification standardizes the terminal’s customs operations, closing the circuit of customs processing and security in national and European transport. The purpose of the AEO status is to apply more rigorous and effective security measures and at the same time facilitate the flow of goods in international trade.

“With this operation, APM Terminals demonstrates its firm commitment to efficiency and to providing greater transparency in the logistics chain, thanks to an innovative service that permits users to see the real-time status of containers. Improved energy efficiency of the new equipment will also result in reduced emissions,” Mercè Conesa, President of the Port of Barcelon, commented.

“The company’s significant investment underpin the Port of Barcelona’s strategic plans, based on competitiveness, sustainability and innovation,” Conesa further said.


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Iran’s Non-Oil Trade Surplus Tops $1.3 Billion in Q1

Iran recorded a non-oil trade surplus of $1.3 billion in the first three months of the current fiscal year (started March 21). 

According to a report by Persian daily “Iran” based on data provided by Trade Promotion Organization of Iran, the country’s overall non-oil foreign trade during the period stood at $21.7 billion. 

Overall, Iran’s exports stood at $11.5 billion to register a 1.2% decline year-on-year.

Iran’s imports reached $10.2 billion in Q1, registering a decline of 8.7% compared with the similar period of last year. 


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