Shipping

EFL bags Logistics Company of the Year Award

Expo Freight (EFL) bags the Logistics Company of the Year Award at Sri Lanka Ports, Trade and Logistics Awards

Expo Freight (EFL) was crowned victorious at the recently concluded Sri Lanka Ports, Trade and Logistics Conference Awards Ceremony in Colombo by being adjudged the Logistics Company of the year.

The prestigious award was received on behalf of EFL by its Chief Executive Officer (CEO) Jagath Pathirane.

Tetsuya Kinoshita, Managing Director, ClassNK, Jagath Pathirane, CEO Expo Freight (EFL) receiving the Logistics Company of the Year Award and Chris Hayman, Chairman, Seatrade.

Speaking to the media, CEO EFL Jagath Pathirane said "winning an international award is testimony and an endorsement to the quality of service that we at Expolanka Freight offer our customers. Seatrade has not only given Sri Lanka an opportunity to showcase the local infrastructure and capacity that the country is building to be exploited by the trade with its strategic position, but the local enterprises much deserved world class recognition; such as ours, who have the capacity and expertise in the freight and logistics industry spanning over 30 years of experience with our regional strong presence, expanding globally to stand up to the required international best practices and quality".

Seatrade Communications, co-host of the Sri Lanka Ports, second edition of the Trade and Logistics Conference, Exhibition and Awards 2013, focused on important themes from the industry, including successfully creating state-of-the-art port and maritime facilities, financing and investing in major maritime and transport projects in Sri Lanka, and a workshop about successful free-zone development.

Following the conference and exhibition, the Awards Ceremony featured as part of the Sri Lanka Ports, Trade and Logistics Gala Dinner, with award-winning SKY News Anchor and Presenter, Jeremy Thompson, as the Master of Ceremonies. International and domestic conference attendees attended this prestigious evening, honouring the most accomplished and dynamic maritime companies and executives in the country.

The awards were judged by a panel of esteemed international judges, with Chris Hayman as Chairman of the Judging Panel, awarding six winners. EFL emerged victorious in the Logistics Company of the year sector beating the likes of many other heavy industry players.

Expolanka Freight has established itself globally as one of the largest freight forwarding services, primarily focused on servicing the apparel industry and revolutionizing specialized solutions of freight forwarding for Sri Lanka's flourishing fashion houses. With operations around the world in over 16 countries, 44 cities with 60 subsidiaries and joint venture companies, Expolanka is a regional powerhouse in the logistics sector.

Panamax vessels 'stars of the month' for dry bulk market

They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the heavy orderbook, Panamax dry bulk carriers, are among the most versatile ship types and this comes in handy when seasonal demand picks up.

According to the latest monthly report from shipbroker Intermodal, April was "a very positive month for Panamaxes despite the ever present fears regarding the scheduled for delivery for 2013. A lot of emphasis was placed on the much firmer grain market which allowed for ample of fresh inquiries to surface in the Atlantic basin and empty out much of the tonnage lists that had amassed.

This however was only one side of the story, because at the same time and playing a much more significant role with regards to the longer-term prospects of this size segment, we witnessed a much stronger coal trade in the Pacific basin, as many traders were taking advantage of the softening prices for this important dry commodity.

China's and India's energy appetite is still rising and their preference towards coal fired power plants means strong demand for thermal coal", Intermodal said.

According to analyst George Lazaridis, "Indonesia has been a prime supplier for both these markets for several years now. Being one of the largest exporters of coal worldwide, it is significant that they recently announced stellar results for the first quarter of 2013, with total exports of coal reaching just over 99 million tons (despite the heavy rainfall in the first two months which lead to slower production output) and around 80% of this being exported to two of the biggest importing countries which are China and India.

At the same time, the Indonesian Energy and Mineral Resources Ministry estimates that they will close off the year with a record number of close to 400 million metric tons of coal produced, which is a 3.6 per cent increase compared to the 386 million tons output of 2012.

All this is in stark contrast to where we were at the end of August last year, were the slowing growth from China had shown an immediate negative impact in shipments from Indonesia. The difference since then is not only the improved economic conditions in China which has led to a ramping up of infrastructure spending and industrial production needs, but also a change in policy by the Indonesian government which has decided to drop its proposal to ban exports of lower-quality grades.

This is quite significant as it has helped export volumes increase significantly, while for a more forward looking perspective it will help sustain the country's exports as 93% of its coal reserves are below top quality", he said. Lazaridis added that "Australia, the world's second largest exporter of coal, has also ramped up investment in its coal mining, with several new mining projects underway.

The level of investment that has gone into most of these projects shows the high level of commitment that many have in this sector and the promise it holds for further future growth despite the increased competition from alternative sources for power generation such as natural gas.

Hellenic Shipping News Worldwide

Shipping could help Greece exit crisis, says study

Greece's merchant marine sector could well account for ten percent of the country's GDP and help the Greek economy recover from the economic crisis, according to a study published on Tuesday.

An increase in the number of Greek seamen and the return of companies based abroad "would favour the country's economy" concluded the study, carried out by the Foundation for Economic and Industrial Research (www.iobe.gr).

According to the study, the sector could gain an added value of 26 billion euros ($33.7 billion) by attracting maritime activities to Greece and could create more than 550,000 jobs. "The sector could well reach ten percent of Greek GDP," economist Angelos Tsakanikas, who was in charge of the study, said during a presentation to the press.

AFP

Panama Canal authority hopes to revamp toll system

The Panama Canal authority said it hopes to increase income by changing the way it collects tolls starting in 2015, when the newly expanded canal goes into operation. "What we're looking for is not to simply to cover the value that the route offers right now, but instead the much greater value that a widened canal will have," said canal administrator Jorge Quijano. The proposal, Quijano said, will most likely differentiate between vessels that continue to use the existing canal and those using the widened route.

Authorities are looking into alternatives to the current per-TEU charges (a maritime transport unit equivalent to one 20-foot container) that could attract a greater volume of cargo without necessarily raising costs for users. During the 2011 fiscal year, 14,600 ships carrying 322 million tons of cargo passed through the canal linking the Atlantic and Pacific, generating $800 million in revenue for Panama, or about two percent of its GDP.

Last year, more than 333 million tons of cargo passed through the canal.

The widening project, slated to be completed by 2015 -- six months behind schedule -- will allow the canal to accommodate ships with a capacity of up to 12,000 containers -- larger than 5,000-container ships now able to traverse it.

AFP