Tag: Asia

Port Tampa Bay welcomed CMA CGM Group's announcement on beginning to serve Port Tampa Bay in late May 2019 on its Pacific Express 3, or PEX3 service.  The PEX3 port service rotation will be as follows: Singapore – Vung Tau – Hong Kong – Shekou – Ningbo – Shanghai - Busan – Panama Canal - Houston – Mobile – New Orleans – Tampa – Miami – Singapore. 

Asian governments are trying to improve the facilities and ease the regulations to attract more super yachts to cruise in the region and spend time in their marinas. In fact, in Thailand this has led to an increase in visiting super yachts, reaching an all time high in Phuket.  Namely, during February, the Yacht Haven Marina accommodated 36 super yachts.

According to Asian Terminals Inc., they are seeking to expand their services beyond the international gateway ports in Manila and Batangas to improve logistics cycles for manufacturers, shippers and transporters in support of the country’s growing economy. The projects are to help the terminal accomplish greater operational synergies, helping the industry cope with logistic barriers and also enable them create growth opportunities in the future.

IMO and the United Nations Office on Drugs and Crime (UNODC), IMO security and counter-terrorism treaties, such as SOLAS Chapter XI-2 and the suppression of unlawful acts (SUA) instruments, conducted a cross-regional workshop in Bali, Indonesia to support the implementation of the treaties in South and South-East Asia for terrorist attacks. The workshop took place on 5 to 8 of February. 

Output cuts in oil-rich Alberta and Saudi Arabia result to leaving heavy-crude refiners from the Gulf of Mexico to Asia in a challenging position. The Saudis are expected to mostly focus on paring output of heavy crude as they lead efforts to rebalance the global market, according to Bloomberg. Although curtailments in Canada have driven local prices at a record in almost a decade, others as Arab Heavy and Heavy Louisiana Sweet are also gaining a powerful position. 

Trading company Toyota Tsusho and the Japan Bank for International Cooperation are joining forces on a port project in Angola that will be the largest of its kind for Japanese businesses, according to Nikkei Asian Review. Both companies aim to raising 70 billion yen ($643 million) from public and private lenders in Japan. Their goal is to help the African fund the effort. 

Cosco Shipping Ports Limited announced in its statement that COSCO-HIT Terminals (Hong Kong) Limited, Asia Container Terminals Limited, Hongkong International Terminals Limited and Modern Terminals Limited entered into a Hong Kong Seaport Joint Operating Alliance Agreement. The collaboration aims to efficiently manage and operate the Kwai Tsing Port in Hong Kong, the 'Combined Terminal Facilities'.

Chinese currency renminbi (RMB), or the yuan, has gained a bigger popularity overseas, especially in countries along the Belt and Road as the B&R construction advances smoothly. People's Bank of China (PBOC) noted that 3.71 trillion yuan worth of cross-border trade was settled in RMB in the first three quarters of 2018, and a growing number of countries and regions have accepted the settlement of cross-border transactions in RMB.

According to ReCAAP ISC, during 25-31 December 2018, one incident of piracy of the Malaysian tug boat,'Magtrans II' occurred, off Tambisan Island, Sabah, East Malaysia. In addition the report presents information on how the incident took place.

Zion Market Research has published a new report according to which the global blockchain in energy market was valued at around USD 208 million in 2017 and is expected to reach about USD 11,899 million by 2024, increasing at a CAGR of above 78.2% between 2018 and 2024.