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Date: 3-November-2016

APL Joins the World’s Largest Container Shipping Alliance

Dear Valued Customer,
I am pleased to announce that APL, as part of the CMA CGM group, will join the league of the world’s largest container shipping lines in the OCEAN Alliance from April 2017.

OCEAN Alliance is poised to be the leading alliance in the industry, offering services across the seven key trades: Asia-North America (East Coast and West Coast), Asia-Europe, Asia-Mediterranean, Asia-Middle East, Asia-Red Sea and Trans-Atlantic. Such comprehensive coverage of the east-west trade is unparalleled in the history of shipping.

As a start, APL will be offering 38 loops under the OCEAN Alliance scope. This complements and enhances our existing global network of more than 70 other service loops. Meanwhile, APL continues to maintain our key strengths in our own exclusive services, including our own-operated Eagle Express Service (EX1), APL’s premier flagship service calling the U.S. West Coast.

What all these mean to you, our valued customer, is that APL is now bigger, stronger, and better-placed to meet the market demands and serve your shipping needs. What we bring to our customers is a greater portfolio of products and services, helping our customers expand their businesses into new markets with greater speed and predictability. 

This marks the start of an exciting journey for us. APL will continue to make a difference beyond the reliable transportation of cargo from origin to destination. We will continually innovate to create value and shipping solutions that facilitate our customers’ global connectivity and speed-to-market.

I am eager to share more with you about the bigger, broader and better APL, and how we can help your business grow. In the meantime, we have prepared an information deck for your downloading. You can also find out more about the OCEAN Alliance service offerings on APL.com.

As always, my team and I are at your service. Please do not hesitate to contact any one of us if you wish to discuss further. 
Yours sincerely,
 
Nicolas Sartini
Chief Executive Officer
Email: nicolas.sartini@apl.com
Mobile: (65) 8299 8132

 

 

Date: 27-July-2016

Indo-Pak trade at $339.43 mn in April-May

The trade between India and Pakistan reached at $339.43 million during the first two months of 2016-17 fiscal year, The Indian Parliament was informed recently. Exports during April-May stood at $278.75 million and imports were aggregated at $60.68 million.

Commerce and Industry Minister Nirmala Sitharaman (The Government of India) said that in the meeting between Prime Ministers of India and Pakistan on May 27, 2014, India stated that the two countries could move immediately towards full trade normalisation on the basis of the September 2012 roadmap.

"No bilateral trade meeting between India and Pakistan has taken place since then and there is no progress on the agreed roadmap," Sitharaman said in a written reply to the Lok Sabha.

In September 2012, it was agreed that Pakistan would immediately remove all trade restrictions through Wagha/Attari border, transition fully to MFN (non-discriminatory) status to India by December 2012.

 

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Date: 27-July-2016

 

Tankers: Med-Japan LR rates bound to stay low this year on closed naphtha arb

 

Long Range 2 tanker freight rates on Mediterranean-Japan voyage were expected to remain deflated amid expectations the east/west naphtha arbitrage will remain closed until early 2017, shipping and trading sources said.

Amid a closed naphtha arbitrage, lump sum rates on the trip have been rangebound from $1.55-$2.15 million since February, according to S&P Global Platts data.

That equates to $19.38-$26.88/mt.

Platts launched assessments for the Med-Japan route, basis 80,000 mt, in February as it is one of the active reports for naphtha arbitrage and term cargoes to Asia.

“Naphtha arbitrage is not working and potentially it is going to get worse. The contango in the naphtha market is steep and it is going to encourage trade to move to Q4 from the end-month,” a trading source said, adding there was a supply overhang in Asia with between 800,000 mt and 1 million mt available.

“There is talk that people are trying to find venues out of Europe…Some are sending stuff to the US for gasoline blending.

Only the high quality naphtha seems to be moving out of the Baltic.

On other grades of naphtha, arbitrage is closed to Asia…The only thing that could trigger the opening of the arb is the refinery season in the first quarter of 2017,” the source said.

ASIAN NAPHTHA WEAKNESS REFLECTED IN NARROW EAST/WEST SPREAD

Another factor in the arbitrage economics to Asia from Europe is the front-month naphtha east/west spread — the premium of CFR Japan naphtha cargo swaps over the CIF NWE naphtha cargo swap — which has been on a downward trend for the first half of 2016 according to Platts data.

After hitting a 28-month low of $8.50/mt on June 30, the front-month east west spread has been oscillated between $12/mt and $15/mt this month and was assessed at $12.50/mt Friday amid a soft Asian naphtha market.

“The east is oversupplied…Arab Gulf exports are high, Europe keeps trying to export its oversupply and Formosa turnaround [is upcoming],” a naphtha trader said.

Taiwan’s Formosa Petrochemical was expected to limit imports this month due to planned maintenance at its No. 2 steam cracker from August 1 to September 22.

One culprit for this year’s lingering Asian naphtha weakness is lower demand from Japan. According to Japan’s Institute of Energy Economics, naphtha demand in fiscal year 2016-17 (April-March) was expected to drop 6.1% to 43.4 billion liters (747,883 b/d) as the country decommissioned two naphtha-fed steam crackers in its 2015-16 fiscal year.

Asian naphtha cracks fell to 18-month lows at the end of last week as demand has yet to recover despite regional steam crackers gradually returning from maintenance and some already running at full capacity.

Asian naphtha remained under pressure Monday from steady seasonal exports from India while demand was limited, with physical cargo prices at 3-1/2 month lows and with cash differentials stuck in negative territory since early May.

As a result of the closed arbitrage to Asia, some Mediterranean cargoes have been trying to find a home in Northwest Europe.

“Cargoes from Spain, Algeria and Greece that were moving south now need to find new homes,” a naphtha end-user said.

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Date: 27-July-2016

 

Suez Canal Cuts Tolls for VLCCs on US-Arabian Gulf Route

The Suez Canal Authority has reduced transit tolls for Very Large Crude Carriers (VLCCs) of more than 200,000 dwt in ballast coming from America and heading for the Arabian Gulf, GAC Egypt said.

According to a circular released by the Suez Canal Authority, the vessels coming from the Gulf of Mexico, the Caribbean and the North Coast of South America would receive a 45% reduction from the applicable Suez Canal transit tolls excluding other services dues.

In order to receive the reduction, a company needs to submit a request before the transit through its agency, subject to forward a certificate from the port of origin and a certificate from the port of arrival after transit.

Furthermore, in case of stopping in between ports, a certificate stating the reason of stoppage is to be submitted as well as an undertaking from the shipping agency confirming the payment of the whole transit dues without any rebates in case of changing port of origin or port of arrival.

The documents should be submitted a maximum of 60 days from the date of transit, GAC Egypt added.

According to the Suez Canal, the circular came into effect as of July 24 as an experimental period to be renewed.

 

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Date: 27-July-2016

 

European, Indian Terminals Push DP World’s 1H Volumes Up

Dubai-based port and terminal operator DP World Limited handled 31.4 million TEU across its global portfolio of container terminals during the first half of 2016, with gross container volumes growing by 2.5% on a reported basis, and up 1.2% on a like-for-like basis.

Growth in the first half of 2016 was largely driven by a strong performance from the company’s European and Indian subcontinent terminals.

“Conditions in Australia and Latin America remain challenging while the UAE handled 7.4 million TEU, down 6% year-on-year due to a reduction in lower-margin cargo,” the terminal operator said.

At a consolidated level, DP World’s terminals handled 14.6 million TEU during the first half of 2016, a 1.6% improvement in performance on a reported basis and down 1.4% year-on-year on a like-for-like basis.

“Despite challenging market conditions in the first half of the year, our portfolio continues to deliver growth,” DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said.

“We expect the second half of 2016 to show an improved performance as our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) deliver an increasing contribution.”

He said that DP World will continue its focus on driving profitability by targeting higher margin cargo, improving efficiencies and managing costs, as the company remains “confident in meeting full year market expectations.”

 

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Date: 27-July-2016

 

IMB: Maritime Crimes Hit Lowest Levels in Decades

Piracy and armed robbery at sea have fallen to their lowest levels since 1995, despite a surge in kidnappings off West Africa, according to a report from the International Chamber of Commerce’s International Maritime Bureau (IMB).

IMB’s global piracy report shows 98 incidents in the first half of 2016, compared with 134 for the same period in 2015. When piracy was at its highest, in 2010 and 2003, IMB recorded 445 attacks a year.

In the first half of 2016, IMB recorded 72 vessels boarded, five hijackings, and a further 12 attempted attacks, while nine ships were fired upon. Sixty-four crew were taken hostage onboard, down from 250 in the same period last year.

“This drop in world piracy is encouraging news. Two main factors are recent improvements around Indonesia, and the continued deterrence of Somali pirates off East Africa,” said Pottengal Mukundan, Director of IMB, adding that the ships “need to stay vigilant, maintain security and report all attacks, as the threat of piracy remains, particularly off Somalia and in the Gulf of Guinea.”

Despite global improvements, kidnappings are on the rise, with 44 crew captured for ransom in 2016, 24 of them in Nigeria, up from 10 in the first half of 2015.

“In the Gulf of Guinea, rather than oil tankers being hijacked for their cargo, there is an increasing number of incidents of crew being kidnapped for ransom,” Mukundan said.

The Gulf of Guinea accounted for seven of the world’s 10 kidnapping incidents, with armed gangs boarding vessels 30 to 120 nautical miles from shore. IMB reported two further kidnap incidents off Sabah, where tugs and barges were targeted. And in early June, a tug and barge was hijacked off Balingian, Sarawak in Malaysia and its palm oil cargo stolen.

However, Indonesia has seen an improvement as low-level theft to ships at anchor has been brought down by introducing designated anchorages with improved security.

This has contributed to a fall in the number of incidents in Indonesia to 24 in the first six months of 2016, compared with 54 in the same period in 2015.