The ships will be among the first-ever of their type to be powered by LNG fuel. Because of space restrictions on short-sea cargo ships, Wärtsilä developed a customised solution in close cooperation with the naval architect and the owners that allows the Wärtsilä LNGPac storage and supply system to be installed below deck without compromising the cargo hold space. Furthermore, the propulsion efficiency will be optimised as a result of Wärtsilä’s Opti Design capabilities that tailors the propeller and HP nozzle to specifically align with the vessel’s hull. These integrated technologies will be supported via Wärtsilä’s Data Collection Unit (WDCU) with iCloud based services and remote monitoring to optimise operability, fuel economy, and periodic maintenance.
“Our recognised leadership in LNG technologies is again shown with this order. Wärtsilä’s expertise in delivering fully integrated systems, and our emphasis on partnering with customers and other stakeholders to develop the optimal solution can lead to state-of-the-art vessels, as is we have here,” says Luuk Hijlkema, Account Manager, Sales, Wärtsilä Marine.
“We are very pleased to have these next-generation sustainable vessels. Minimising our environmental footprint has long been a focal point for us, and the reduction of emissions is a fundamental part of this. The new vessels running on LNG fit well into our continuous drive for greener operations,” comments Ad Toonen, Technical Director, Wijnne & Barends.
The four ships will each have a Wärtsilä 34DF dual-fuel main engine, a Wärtsilä gearbox, a Wärtsilä controlled pitch propeller (CPP) with HP nozzle, and a Wärtsilä LNGPac system. The equipment will be delivered to the yard during Q4 2020, and the first vessel is expected to be delivered during autumn 2021.
The 5800 DWT Lo-Lo (lift-on, lift-off) vessels will operate in the Baltic and North Seas and will be Finnish/Swedish Ice Class 1A classified. Six previously ordered vessels for Wijnne & Barends, which are already under construction, are also being fitted with Wärtsilä main engines and CPP propellers.
HOHHOT, Jan. 19 (Xinhua) — The foreign trade of northern China’s Inner Mongolia Autonomous Region rose to 109.57 billion yuan (about 15.97 billion U.S. dollars) in 2019, up 5.9 percent year on year, the Hohhot customs said Sunday.
The region’s exports totaled 37.68 billion yuan, down 0.4 percent year on year, while its imports increased 9.5 percent to about 71.89 billion yuan last year.
Inner Mongolia’s trade with its major trade partners maintained stable growth in 2019. Its trade with Mongolia and the United States grew 7.5 percent and 19.1 percent, respectively.
In 2019, the region’s trade with countries along the Belt and Road reached 71.3 billion yuan. So far, Inner Mongolia has trade exchange with 62 countries along the Belt and Road. Its trade with these countries totaled 356.62 billion yuan over the past six years.
Supporting the overall positive trend was strong performance at DP World’s Fairview Container Terminal with over 1.2 million TEUs at an increase of 17% over 2018, the addition of propane volume through AltaGas’ Ridley Island Propane Export Terminal, and growth in coal handled at Ridley Terminal where cargo levels were up 18% over the previous year. Northland Cruise Terminal also saw a year-over-year increase in passenger volumes of 35%, totalling over 12,400 visitors to Prince Rupert through cruise travel.
“The Port of Prince Rupert’s consistent record-breaking annual volumes confirms the Port’s growing role in Canadian trade,” said Shaun Stevenson, President and CEO of the Prince Rupert Port Authority. “The Port of Prince Rupert has a reputation for offering strategic advantages to shippers. The 2019 volumes illustrate the growing market demand for the Prince Rupert gateway and further validates our plans for growth and expansion over the next several years.”
PRPA’s latest economic impact study released in 2019 revealed that port-related growth has resulted in the Port of Prince Rupert handling approximately $50 billion in trade value annually and supports an estimated 3,600 direct supply-chain jobs in northern BC, $310 million in annual wages, and $125.5 million in annual government revenue.
In 2019, several infrastructure projects supporting growth and diversification at the Port of Prince Rupert were announced, including the Ridley Island Export Logistics Park, the Zanardi Bridge and Causeway Project, and the Metlakatla Import Logistics Park – all of which are supported by the Government of Canada’s $153.7 million investment through its National Trade Corridors Fund. Moreover, construction commenced on PRPA’s Fairview-Ridley Connector Corridor. The 5.5-kilometre corridor will provide a physical platform for two new rail sidings and a private two-lane haul road between Fairview Container Terminal and Ridley Island.
An anticipated $2 billion in capital expansion projects starting in 2020 will support further cargo growth, including DP World’s Fairview Terminal expansion project that will bring the terminal’s capacity up to 1.8 million TEUs by 2022; the Vopak Pacific Terminal project, which is currently undergoing its environmental assessment and expects to make a final investment decision in 2020; as well as Pembina’s Prince Rupert Export Terminal, which is currently under construction and anticipates being operational in late 2020.
2019, Mongolia traded with 152 countries from all over the world and total
trade turnover reached USD 13.7 billion, of which USD 7.6 billion were exports
and USD 6.1 billion were imports. Total foreign trade turnover increased by USD
860.6 (6.7%) million, of which exports increased by USD 608.0 million (8.7%)
and imports increased by USD 252.6 million (8.0%) compared to the same period
of previous year.
Mongolian foreign trade
balance has been in surplus since 2014 and foreign trade surplus reached USD 1.5
billion in 2019, increased by USD 355.4 million (31.3%) from previous year.
In December 2019, exports
and imports reached to USD 564.2 million and USD 543.6 million, respectively. Compared
to the previous month, exports increased by USD 37.3 million and imports
increased by USD 24.4 million.
In December 2019, foreign
trade surplus reached to USD 20.5 million. Compared to the previous month, foreign
trade surplus increased by USD 12.9 million.
In total turnover, trades
with two neighbor countries China and Russia have highest shares where trade with
China was USD 8.9 billion in 2019, which is 64.4% of total goods turnover and
89.1 percent of exports.
In total export goods to
China, 44 percent was coal and 26.4 percent was copper concentrate. While 77.5%
of total export goods to the United Kingdom, 76.7% of total export goods to
Singapore and 98.8% of total export goods to Switzerland were gold.
In 2019, imports by main
countries, China share to 33.6%, Russia share to 28.2%, Japan share to 9.6%, USA
share to 4.7% and Korea share to 4.4% of total imports.
Petroleum products share to
55.8% of Russia’s imports, Cars share to 60.9% of Japan’s imports, trucks share
to 13.8% of China’s imports and there are many different types of products
share to other percent.
The 608.0 million increase
in exports from the same period of previous year was mainly due to the increases
in exports of USD 288.2 million in bituminous coal and USD 273.9 million in raw
or semi-manufactured gold.
Before the discovery of the
major mining sites, agriculture was main economic sector of Mongolia. In 2019
by preliminary estimate, Mongolia exported USD 132.2 million meat and meat
products, which is USD 17.2 million or 27.4% lower compared to previous year.
Export of washed cashmere
increased by USD 46.3 million, while export of combed raw cashmere decreased by
USD 9.6 million. Export of both washed cashmere and combed raw cashmere makes
up to 4.3 percent of total export.
The USD 252.6 million
increase in imports from the same period of previous year was mainly due to USD
46.5 million increase in mineral products imports, especially, USD 92.6 million
increase in diesel imports and USD 267.0 million increase in imports of
transport vehicles and its spare parts. In 2019, Mongolia imported
94065 vehicles, in which 69472 were cars. Imported cars increased by 5433 or
8.5% from previous year.
Exports of mineral products,
textiles and textile articles, natural or cultured stones, precious metals jewelry
made up 94.9 percent of total export. On the other hand, 68.9 percent of
imports was mineral products, machinery, equipment, electric appliances,
transport vehicle and its spare parts and food products.
Source: National Statistics Office of
Transhipment in IJmuiden fell by 7.9% to 17.2 million tonnes, while Beverwijk and Zaanstad saw transhipment stabilise at 0.7 million tonnes and 0.2 million tonnes, respectively. This is revealed in the provisional transhipment figures announced today.
The record set in the port of Amsterdam in the previous year is primarily attributable to an 18% increase in the transhipment of energy products, such as coal, to 15.5 million tonnes, compared to 13.1 million tonnes in 2018. The increase in coal transhipment can be attributed to market conditions, which led to strong growth in exports to non-traditional markets such as Asia and the Black Sea region. This growth is not expected to be structural. The closure of the Amsterdam-based Hemweg power plant 8 in December resulted in the cancellation of a large coal transaction. The transhipment of oil products also rose in 2019 to 50 million tonnes, compared to 47.4 million in 2018. This increase was caused by favourable conditions in the petrol market.
Other dry bulk also increased by 6% – a substantial growth – to 33.6 million tonnes, compared to 31.6 million tonnes in 2018. Container transhipment also increased by 12% and transhipment in Ro-Ro rose by 17%. Transhipment of chemical products and construction materials rose by 3.4% and 2.4%, respectively.
These records were also offset by decreases. The agri cargo flow fell in the previous year by 5% to 7.9 million tonnes and general cargo fell by 35% compared to 2018.
Amsterdam received 117 seagoing cruise ships in 2019, compared to the previous year’s 180. The main reason for this decrease is due to the introduction of the tourist tax, which entered into force on 1 January 2018. The number of seagoing cruise ships that will be visiting Amsterdam in 2020 is expected to remain the same as last year; 12 of the cruise ships will be coming to the city for the first time. The number of sea cruise passengers fell to 294,000 compared to 425,000 in the year prior. The number of seagoing cruise ships visiting IJmuiden increased to 62 from the previous year’s 30. The number of river cruise ships that called in 2019 was 2,282, compared to 2,007 a year earlier.
Imports and exports
Imports in the port of Amsterdam increased by 5.7% in the previous year to 53.2 million tonnes. Exports grew by 5.5% to 33.6 million tonnes.
A total of 20 hectares of land was leased out in 2019, compared to 43 hectares in 2018. Large parcels of land were leased out to Granuband and the 5.7-hectare distribution centre at the Conakryweg. Port of Amsterdam also purchased a 6-hectare lot in HoogTij in 2019, after having purchased 10 hectares in 2016.
Source: Port of Amsterdam
BANGKOK (AP) — Shares retreated in Asia on Wednesday as conflicting reports raised concerns over the likely outcome of a trade deal to be signed by the U.S. and China.
Japan’s Nikkei 225 index lost 0.5% to 23,916.58 while the Hang Seng in Hong Kong dropped 0.6% to 28,722.86. The Shanghai Composite index gave up 0.5% to 3,090.04. In South Korea, the Kospi slipped 0.4% to 2,230.98. Shares also fell in Taiwan and in Southeast Asia. But the S&P ASX 200 climbed 0.5%, breaching an intra-day record high, to 6,994.80, on optimism over the preliminary trade agreement due to be signed later in the day.
The declines followed a mixed session on Wall Street Tuesday as investors parsed the latest indications on trade relations between the two largest economies. Traders were spooked by a report that U.S. tariffs would remain in place on Chinese goods even after a preliminary deal is signed Wednesday.
The Wall Street Journal reported that the Trump administration was preparing to further tighten controls on technology exports to Huawei Technologies.
The trade deal may only mark a “detente” in trade tensions, said Stephen Innes of AxiTrader.
“But I think after two years of trade war noise, hopefully, the markets have learned to take all the bluster with a grain if not a barrel of salt,” Innes said.
Overnight, major U.S. stock indexes shed most of their gains from earlier in the day after a report said the interim trade deal between the U.S. and China does not remove tariffs on Chinese goods.
Technology stocks accounted for much of the selling. The sector is particularly sensitive to developments in trade relations because many of the companies rely on China for sales and supply chains.
Nvidia led Tuesday’s slide, dropping 1.9%. Health care stocks led the gainers, receiving a big boost from Perrigo, which vaulted 12.6%. Boston Scientific fell 6.2% after giving Wall Street a weak fourth-quarter sales update.
“Would the market be more satisfied with a reduction in those tariffs? Absolutely,” said Quincy Krosby, chief market strategist at Prudential Financial. “Nonetheless, you don’t want to have an escalation in the tariff war. That was the most important thing for the market.”
The S&P 500 index fell 0.2% to 3,283.15 after gaining as much as 0.2% earlier. The Nasdaq slid 0.2% to 9,251.33.
The Dow rose 0.1% to 28,939.67, while the Russell 2000 index of smaller company stocks climbed 0.4%, to 1,675.74.
Bond prices rose. The yield on the 10-year Treasury slipped to 1.81% from 1.84% late Monday.
President Donald Trump and China’s chief negotiator, Liu He, are scheduled to sign a modest trade pact Wednesday that calls for the U.S. to ease some sanctions on China. The U.S. dropped its designation of China as a currency manipulator ahead of the signing.
Beijing, meanwhile, will step up its purchases of U.S. farm products and other goods.
While the deal is limited in its scope, investors hope it will prevent further escalation in the conflict that has slowed global growth, hurt American manufacturers and weighed on the Chinese economy.
With the trade issue entering a new stage, Wall Street is focusing on the rollout of corporate earnings reports over the next few weeks.
Several large banks were among the companies that kicked off the latest earnings season on Wall Street Tuesday.
JPMorgan Chase rose 1.2% after the banking giant reported a surge in profits because of a blowout quarter from its trading desks. The earnings handily beat analysts’ forecasts. Citigroup climbed 1.6% after reporting a similar jump in profits because of its trading operations.
Wells Fargo did not fare as well. The bank’s stock slumped 5.4% as its profit and revenue dropped because of hefty costs and lower interest rates. Wells Fargo is still under growth restrictions by regulators after years of missteps, beginning in 2016 with the uncovering of millions of fake checking accounts its employees opened to meet sales quotas.
Delta Air Lines rose 3.3% after the company increased its fourth-quarter profit to $1.1 billion by adding more flights over the holiday period and packing them even more full of passengers. The results beat Wall Street’s forecasts.
Delta’s solid report helped lift some of its rivals. United Airlines rose 1.1% and American Airlines gained 0.5%.
Wall Street expects corporate profits for S&P 500 companies in the last three months of 2019 to be down by 2%. That would be the first time that earnings for the S&P 500 would have declined four quarters in a row since the period ending in mid-2016, according to FactSet.
Benchmark crude oil lost 11 cents to $58.12 a barrel in electronic trading on the New York Mercantile Exchange. It gained 15 cents on Tuesday, to $58.23 per barrel.
Brent crude oil, the international standard, gave up 11 cents to $64.38 per barrel. It gained 29 cents on Tuesday to $64.49 a barrel.
Gold rebounded, gaining $7.10 to $1,551.70 per ounce.
The dollar slipped to 109.94 Japanese yen from 109.97 yen on Tuesday. The euro was flat at $1.1128.
AP Business writers Alex Veiga and Damian J. Troise contributed.
The part arrived at JAXPORT from Poland aboard the Spliethoff general cargo vessel Sluisgracht. Stevedores lowered the beam onto the terminal before lifting it onto a barge for transport to its destination at a North Florida shipyard where it will be added to a ship as part of a vessel refurbishment.
Talleyrand Marine Terminal offers 4,780 linear feet of berth space, on-dock rail, and is conveniently located near three U.S. interstates, I-10, I-95 and I-75. Jacksonville’s skilled workforce offers a variety of labor options, including highly trained master riggers specializing in heavy lift and project cargo.
HANOI (Reuters) – Vietnam recorded a trade surplus of $11.12 billion last year, widening from a surplus of $6.8 billion in 2018, customs data released on Monday showed, with smartphones, garments and electronic home appliances among the largest export earners.
Exports in 2019 rose 8.4% to $264.189 billion, while imports rose 6.8% to $253.071 billion, the Customs Department said in a statement.
Key imports were electronics and machinery, the department said.
Vietnam’s exports of smartphones and spare parts, mostly produced by Samsung Electronics (005930.KS), rose 4.4% last year to $51.38 billion, the data showed.
In December, Vietnam’s exports fell 1.0% from November to $22.56 billion, while imports were up 4.5% at $22.30 billion, resulting in a trade surplus of $259 million.
The General Statistics Office late last month forecast the 2019 trade surplus at $9.94 billion, and December’s trade deficit at $1 billion.
Monday’s data also showed Vietnam’s trade surplus with the United States, Vietnam’s largest export market, widened to $46.98 billion last year from $34.87 billion a year earlier.
Vietnam is at risk of being labeled a currency manipulator by the U.S. because of its trade surplus with the U.S., a highly positive current account balance and because its central bank has been quite active in terms of net foreign exchange purchases.
Vietnam has been seeking to import more U.S. goods to help narrow the trade gap following threats by President Donald Trump to impose tariffs on its products amid the Sino-U.S. trade war.
Vietnam’s trade deficit with China rose to $34.04 billion last year from $24.15 billion a year earlier. Vietnam relies on China, its largest trading partner, for materials and equipment for its labor-intensive manufacturing.
Reporting by Khanh Vu; Editing by Nick Macfie
In addition to its existing base in Istanbul, P&O Ferrymasters will develop a comprehensive network across the strategically vital country by opening offices in Izmir on the Aegean coast, the capital city Ankara, Mersin on the south coast, Bursa in the Marmara region and Gaziantep near the border with Syria.
Murat Bog, Freight Management Director at P&O Ferrymasters, said:
“This expansion will further strengthen our capacity to deliver solutions for customers across both Europe and Asia – the world is getting more complex and we are at our best when we solve the most difficult logistical challenges.
At present we offer freight and intermodal services between Europe and Turkey, combining land routes, short sea connections and road-rail routes. We plan to build on our schedule of daily departures to and from Azerbaijan, Georgia, Iraq, Kazakhstan, Turkmenistan and Uzbekistan to make Turkey our central hub for customers accessing the entire Middle East, Russia and Ukraine.”
In Turkey, P&O Ferrymasters works with companies in sectors including fast-moving consumer goods, retail and textiles. At present it uses its 45’ high cube container fleet and this year plans to incorporate trailers into its operations.
Source: P&O Ferrymasters