Expert Delegation from Japan visited Cochin Port Trust

The expert delegation from Ocean Policy Research Foundation, Tokyo, Japan visited the maritime development project areas in Vallarpadam and Puthu Vypeen today.

The visit of the experts is aimed at observing and assessing the potentials of the ports in the southern coast of India from their specific viewpoints of shipping, civil engineering and logistics etc. The team will identify the potential of the port by taking into account the distinguishing features of respective region where the port is located and work out practical proposals to help develop maritime infrastructure. Apart from Cochin the team is also visiting the ports at Chennai, Visakhapatnam and Tuticorin. The report regarding the visit will be provided as the informative reference for the Japanese maritime industries sector, which is attentive to India as a promising business frontier. The team comprises Mr.Yutaka Fukushima, Deputy Senior Researcher, Overseas Coastal Area Development Institute of Japan, Mr Keiji Iwata, Deputy General Manager, Dry Bulk Carrier Supervising Office, Mitsui O.S.K Lines Ltd., Mr Shinichi Oi, General Manager, Marine Technical Department, M.O. Marine Consulting Ltd., Mr Yoshihisa Imai, Senior Research Fellow, Ocean Policy Research Foundation and Mr Takehisa Imaizumi, Advisor, Policy Group, Ocean Policy Research Foundation. The expert team is accompanied by Mr P Sasikumar and Mr J P Saini, Under Secretaries from Ministry of Shipping, Government of India.

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Hapag-Lloyd sale the hot topic as SMM closes

Hamburg: Parent TUI’s efforts to offload its boxship division have been greeted with initial bids far below the expected 4-5bn euros, with neither NOL of Singapore nor a Hamburg consortium putting in bids of more than 3.3bn euros, according to sources close to the deal.

As the world’s largest maritime trade fair, SMM in Hamburg, comes to be closed all eyes will return to the future of the city’s container line, Hapag-Lloyd, the source of much conjecture. Parent TUI’s efforts to offload its boxship division have been greeted with initial bids far below the expected 4-5bn euros, with neither NOL of Singapore nor a Hamburg consortium putting in bids of more than 3.3bn euros, according to sources close to the deal. Now speculation among the congested byways at SMM is that TUI will abort the sale, potentially a huge embarrassment to senior management as the transaction fell victim to a downward container cycle. Final bids are due in by the end of the month. ‘I just can’t see them offloading it now, it will remain part of TUI,’ said a source close to the transaction. However, there is an outside chance that the Hamburg consortium might raise their bid, especially following the news this week that German regional state lender HSH Nordbank is joining the consortium.

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Deepwater to Build Offshore Wind Farm

Rhode Island picked Deepwater Wind to develop an offshore wind farm expected to cost more than $1b and provide about 15 percent of the state’s electricity.

The wind farm was expected to generate about 1.3 million megawatt-hours a year. Rhode Island selected Deepwater after reviewing seven bids on its April request for proposals to build an offshore wind farm. Deepwater was established to develop utility-scale offshore wind projects in the northeast United States. To help seal the deal, Deepwater pledged to make a significant investment in the state of about $1.5 billion with the construction of a regional manufacturing facility in Quonset and creating up to 800 direct jobs with annual wages of $60 million. The Quonset facility will manufacture support structures upon which the turbine and its tower are based that will serve the entire northeast. To help pay for the project, the governor recently urged the state Public Utilities Commission to require the state’s power company, National Grid, to enter into long-term energy contracts with renewable generators, like Deepwater. Deepwater will now enter a 90-day period to negotiate a formal development agreement with the state. The final agreement will include Deepwater Wind’s total commitment to Rhode Island, including the establishment of a manufacturing headquarters in the state and the reimbursement of the cost of the permitting process. Final approval of the project is contingent on multiple regulatory approvals from both the state and federal governments.

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