News Bulletin – 24 February 2018

1. ITF, Maritime Employers Hammer Out Wage Increase for Seafarers

23 Feb 2018 : After a lengthy and challenging negotiation process, the International Transport Workers’ Federation (ITF) has sealed a new framework agreement with maritime employers represented by the Joint Negotiating Group (JNG). JNG is comprised of the International Maritime Employers’ Council (IMEC), the International Shipping Employers’ Group (ISEG), which incorporates the International Maritime Managers’ Association of Japan (IMMAJ), and the Taiwanese company Evergreen, and the Korean Shipowners’ Association. The new four-year agreement relates to the employment of seafarers on JNG vessels worldwide and includes a salary increase of 2.5 pct from January 1, 2019. The wages are subject to review after two years.

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2. Mumbai Maritime Board to begin its RoRo service by April

23 Feb 2018 : After starting the RoRo service in Gujarat, The Mumbai Maritime Board (MMB) experts will start the Roll on, Roll off (RoRo) services by April 2018. However, according to sources, the new operator is sceptical about running the route from Ferry Wharf to Mandwa and is demanding a subsidy.

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3. BIMCO: Global Economic Growth Beneficial for Shipping

21 Feb 2018 : If it materializes, global economic growth in 2018 and 2019 will be highly beneficial for the container shipping industry, BIMCO said in its latest macroeconomics shipping market outlook. With global long-term growth projected to rise only moderately in the coming years, it is essential that nations implement structural reforms to unleash any additional growth potential, the report says.

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4. Panama Canal Working with Cheniere to Host More LNG Transits

21 Feb 2018 : The Panama Canal Authority is working towards increasing the number of LNG vessels that can transit the Neopanas exports from the United States, which is likely to increase LNG transits by 50 percent by September, according to Cheniere Energy.

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5. India’s largest container terminal JNPT’s capacity to double by 2022, to be on par with Euro ports

19 Feb 2018 : The country’s biggest container cargo terminal, Jawaharlal Nehru Port Trust, will be on par with European ports by 2022 when it is expected to handle 10 million teus (a measurement of 20- foot equivalent container units) annually. Before that, its capacity is set to go up by 50%, from the present 4.8 million teus per year, with the launch of the first phase of its fourth container terminal.

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6. Cargo traffic at 12 major ports up 4.58% at 561 MT in Apr-Jan

19 Feb 2018 : Buoyed by a demand revival, Indias 12 major ports witnessed a 4.58 % rise in cargo traffic at 561 million tonnes (MT) during April-January of this fiscal, according to ports body IPA. These top ports had handled 536.41 MT cargo during the corresponding 10-month period of the last fiscal, as per the latest data by the Indian Ports Association (IPA).

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7. PM Modi Inaugurates Phase-I Of Rs 7,900-Crore Fourth Container Terminal At JNPT

19 Feb 2018 : Prime Minister Narendra Modi on Sunday inaugurated the first phase of the Rs 7,900-crore fourth container terminal at Jawaharlal Nehru Port Trust that is expected to double its handling capacity.Inaugurating the first phase of the fourth terminal of the JNPT, to be operated by the Singapore Ports, Modi said his government is focusing on port-led development. The terminal, jointly developed by JNPT and Port of Singapore Authority, would be able to dock mother vessels, handle the biggest container ships and cranes that can reach 22 rows wide or more, said Neeraj Bansal, chairman at JNPT. The total cost of the project is estimated at Rs 7,915 crore, making it the highest foreign direct investment in the ports sector, a JNPT statement said.

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Categories: News Digest

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