Maritime News Update Week 27/2018 - Recent News - Tan Cang – Cai Mep International Terminal

Maritime News Update Week 27/2018

ONE STORK of Ocean Network Express docks at TCIT

On June 22, 2018, Tan Cang - Cai Mep International Terminal Co., Ltd. (TCIT), a joint venture between Saigon Newport Corporation and its major partners including MOL (Japan), Wanhai (Taiwan) and Hanjin transportation (Korea) have solemnly held a ceremony to welcome the ship ONE STORK of Ocean Network Express (ONE) operated the service EC4 (THE Alliance). EC4 directly connects TCIT to the East Coast of the United States.

Receiving support and coordination from Vung Tau port authority and pilot, functional units and departments of Ba Ria - Vung Tau Province, TCIT successfully received the ONE STORK with full load up to 139,500 DWT. The new-generation ship stretches 364 meters in length and has an intake capacity of 14,028 twenty-foot equivalent units (TEUs) and is equipped many new hull improvements and technologies that can help reduce emissions and fuel consumption. The ship is designed to connect key ports in Asia and large ports in the United States, helping cut shipping time down to 25 days. Its passage is planned to ply the route Kaohsiung – Hong Kong – Yantian – TCIT – Singapore – New York – Norfolk – Savannah – Jacksonville – Charleston – Singapore.

This great event once again confirms the great trust and support of our customers to TCIT. TCIT has received large container ships of up to 14,000 TEUs, pushing up its market share for cargo in the Cai Mep-Thi Vai area. Further, this direct Vietnam-US container shipping service is expected to reduce seaborne transport and logistics costs and enhance the competitiveness of Vietnam’s imports and exports.

Two 11,000 TEU Newbuildings Delivered to HMM

Hanjin Subic has delivered two mega containership newbuildings to South Korean shipping company Hyundai Merchant Marine’s (HMM).

The two 11,000 TEU sister ships, HMM Blessing and HMM Promise, were handed over to their owner on June 26 and 30, respectively.

Originally ordered by Greek-based Oceanbulk Container Carriers in 2014, the ships were transferred to HMM as part of a resale transaction in 2017.

Each of the 126,400 DWT boxships features a length of 317.33 meters and a width of 48.2 meters. In addition, each of them currently has a market value of around USD 72.6 million.

As explained by the shipbuilder, both vessels were equipped with scrubber systems to reduce sulfur emissions. What is more, these newly-built ships were retrofitted with external lashing bridges in order to increase their standard capacity and accommodate more 40-foot containers on board.

Apart from the recently delivered containership pair fitted with scrubbers, HMM is also planning to install exhaust gas cleaning systems on a number of its vessels.

However, the spokesperson has not unveiled more details regarding the price, the type or the number of vessels to be equipped with scrubbers.

COSCO Shipping to Sell OOIL Shares to Restore Public Float

COSCO Shipping Holdings Co revealed plans to sell up to 15.1 pct of the total issued share capital of Orient Overseas International Lines (OOIL).

COSCO said that the sale plan will only take place in the event the public float of OOIL falls below 25 pct as required under listing rules and to the extent that would restore public float.

The Chinese major plans to sell up to 94,494,789 OOIL shares at the sale price of HKD 78.6, bringing the total value of the sale to HKD 7.43 billion (USD 947 million).

The announcement is being made following approval from the Chinese anti-trust body for COSCO’s USD 6.3 billion takeover of OOIL at the end of June.

The approval came in the nick of time to enable COSCO to meet its previously set date for the completion of the acquisition, which was scheduled for the end of June.

Once the merger is completed, COSCO would hold 90.1% of OOIL, thus becoming the world’s third-largest container carrier. COSCO would have a combined fleet of 400 vessels, with capacity exceeding 2.9 million TEUs including orderbook.

CMA CGM Extends Charter for Diana Containerships’ Unit

Athens-based boxship owner Diana Containerships has agreed with French major CMA CGM to extend the present time charter contract for one of its Panamax container vessels.

Under the deal, Diana Containerships’ 3,739 TEU container vessel, Domingo, will continue working for CMA CGM at a gross charter rate of USD 12,800 per day.

The new charter period, which would last for eight to eleven months, will commence on August 3, 2018.

Diana Containerships informed that the employment extension is expected to generate USD 3.07 million of gross revenue for the minimum scheduled period of the time charter extension.

The 2001-built Domingo is currently chartered at a gross charter rate of USD 8,500 per day.

Upon completion of the previously announced sale of a Post-Panamax container vessel Hamburg, Diana Containerships’ fleet will consist of 4 container vessels.