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South Korean liner shipping companies Sinokor Merchant Marine and Heung-A Shipping will begin integrating their container shipping service businesses next week.

With the combination of services, the duo intends to achieve economies of scale and improve competitiveness in a challenging market.

The integration of services will be followed by a full merger of the two companies in October 2019.

On April 11, 2019, the two parties signed an agreement on the integration of container shipping services, according to a statement issued by Korean Ministry of Oceans and Fisheries (MOF).

The deal is a follow-up to the Korea Shipping Partnership launched by South Korean container carriers back in 2017. The partnership is aimed at strengthening the country’s shipping industry following the collapse of Hanjin Shipping.

Sinokor and Heung-A are to integrate offices and routes in phases, with the Southeast Asia route to be merged first and China/Japan, Korea/Japan routes until December 2020, as explained by the ministry.

Once the process is finalized, the new shipping company will be the third largest in South Korea and the world’s 19th, with a capacity of nearly 90,000 TEU.


Reference: worldmaritimenews.com


Kazakhstan's Consul General visited the port in order to be familiar with the potential and capacities of the Amirabad port.

The Consulate General of Kazakhstan in Iran visited the Amirabad Port  in order to get acquainted with the capacities and potentials of this port. After visiting the site and port facilities, he met Mr. Rezvani, the director of Amirabad Port.

During this visit, Mr. Rezvani elaborated that the public sector has been developing the Amirabad harbor by creating infrastructures and docks and enhancing nominal capacity. On the other hand, by the full presence of private sector investors so far, more than 13500 billion Rials have been invested in Different areas of manufacturing and services in Amir Abad.

This port will enjoy a good advantage by connecting to the national railroad, which we hope will improve the discharge capacity by up to 40%. While visiting the ports of Kazakhstan, we hope that this route will further boost and open a new transit route from China to the Gulf States. We hope that this path of collaboration will further boost and open a new transit route from China to the Gulf States.


Reference: pmo.ir

Germany’s Norddeutsche Landesbank (Nord/LB) decided to withdraw from the ship financing sector as it looks for a fresh start with a capital injection of EUR 3.5 billion (USD 3.9 billion).

Owing to the run down of bad loans from ship financing, Nord/LB set aside additional risk provisions of EUR 1.893 billion in 2018. Although all the bank’s other business segments remained profitable in 2018, expanding risk provisions for the ship financing portfolio led to a net loss for the year, as previously reported.

Earnings before taxes for 2018 amounted to minus EUR 2.057 billion, while consolidated profit came in at minus EUR 2.354 billion. In financial year 2017 by contrast, the bank posted a pre-tax gain of EUR 195 million.

“Such a heavy loss for 2018 is painful,” Thomas Bürkle, CEO of Nord/LB, said.

“But ridding ourselves of bad loans from ship financing will give us a new start. We now have clarity regarding the bank’s future path. We will combine the strengths Nord/LB is known for as a financier of SMEs with particular expertise in structured financing.”

Nord/LB will reinforce its capital ratio via a cash capital injection of EUR 2,835 million, in which two German federal states will participate, Lower Saxony with roughly EUR 1.5 billion and Saxony-Anhalt with roughly EUR 200 million. The Savings Banks Financial Group will provide EUR 1.135 million. Lower Saxony will also be contributing EUR 800 million in capital-relief measures, bringing the total capital to around EUR 3.5 billion.

In financial year 2018, Nord/LB made good progress in stripping the bad loans from its ship financing. By the end of 2018, Nord/LB had reduced the entire portfolio to EUR 10.3 billion.

Compared to the end of 2016, when the portfolio stood at EUR 16.9 billion, this amounts to a decrease of 39 per cent. The amount of non-performing loans (NPL) was equivalent to EUR 7.5 billion as at December 31, 2018. The NPL portfolio is to be run down as a matter of urgency.

As part of a portfolio transaction, the first step will be to transfer a significant part of the portfolio, in the amount of approx. EUR 2.6 billion to a financial investor, Nord/LB said.

In this context, Nord/LB set aside an extensive additional risk provision for the entire NPL portfolio, resulting in a total of EUR 1.8 billion for the ship financing segment for the 2018 financial year.

The total existing loan loss provisions set aside for the ship financing portfolio amounted to EUR 4.9 billion as at December 31, 2018, equivalent to a core risk coverage of 65 per cent for the NPL portfolio.


Reference: worldmaritimenews.com

Valmet will supply the exhaust gas cleaning system (scrubber system) for seven new building container vessels, which will be built in South Korea by Daewoo Shipbuilding and Marine Engineering for Korean Shipping company Hyundai Merchant Marine. The new building container vessels are the largest in the world, over 23,000 TEU (Twenty-Foot Equivalent Unit) each. The scrubber system deliveries will start in 2019.

The scrubber system order was included in Valmet’s fourth quarter 2018 orders received. The value of the order will not be disclosed.

Valmet has a long track record in supplying scrubber systems to different vessels types. This order is Valmet’s first scrubber supply to South Korea and will further strengthen Valmet’s position as a scrubber supplier for passenger and cargo vessels. Valmet has had its own locations in Korea over two decades to ensure best sales, project and life-cycle support for local customers.

“We are proud to provide our technology to the Asian market. Our scrubber system will ensure a sustainable and reliable exhaust gas cleaning for the ships,” says Anssi Mäkelä, Senior Manager, Marine Scrubber Systems, Valmet.

Detailed information about Valmet’s delivery

The scrubber system delivery will include tailor-made hybrid scrubber systems for main engine and generator engines including auxiliary systems and automation. The exhaust gas is washed with seawater in open loop mode and with recirculated water and alkali in closed loop mode. All emissions are continuously monitored, and the complete exhaust gas scrubber system is controlled with Valmet’s proven marine automation.

Reference: valmet.com

جلسه ستاد مدیریت بحران در مدیریت بنادر و دریانوردی آبادان با حضور کلیه معاونین مربوطه و اعضای ستاد بحران تشکیل شد.
به گزارش پایگاه اطلاع رسانی سازمان بنادر و دریانوردی، مدیر بنادر و دریانوردی آبادان گفت: این جلسه در پی هشدار های اخیر هواشناسی در دفتر مدیریت بنادر آبادان برگزار و بر آمادگی کامل عوامل اجرایی در مقابله با سیلاب و خسارات ناشی از آن تاکید شد.
رضا سفاری افزود: از مهمترین تصمیمات این نشست اتخاذ تدابیر ویژه برای پیشگیری از ورود آسیب و خسارت به  کالاهای موجود در محوطه های  بندر آبادان است.
وی ادامه داد: خوشبختانه دو بندر  اروند کنار و چویبده در محوطه های آنها کالایی وجود ندارد اما کالایی که در بندر آبادان  است بسیار مهم و باید پیش بینی شود  که قبل از متحمل شدن خسارت ناشی از  سیلاب چه باید کرد.
رضا سفاری خاطر نشان کرد : تمام کانال های آب های سطحی در حال بررسی است و ورود و خروج آب طوری باید باشد تا در این کانال ها  خروجی آب از محوطه بندر به خوبی انجام شود.
او با بیان اینکه جداول جزر و مد آب به خوبی بررسی شده است گفت : سیستم برق رسانی در صورتی که قطع شود دیزل ژنراتور را مهیا کرده ایم تا در  مواقع اضطراری با قطعی برق و مشکلات آن مواجه نشویم.
مدیر بنادر و دریانوردی آبادان گفت : به منظور آگاه سازی بیشتر شهروندان ، توزیع بروشوها و اطلاع رسانی پیامکی  هم در نظر گرفته شده که علاوه بر آن با توجه به اینکه معمولاً در هنگام  سیلاب آب شرب مختل میشود  تاکید داریم که ستاد بحران به اندازه کافی آب  معدنی در اختیار داشته باشد تا برای امداد رسانی  کمبودی  وجود نداشته باشد.
منبع: وبسایت سازمان بنادر و دریانوردی

After years of trying, Maersk Group has admitted that it cannot find a buyer for its offshore vessel division, Maersk Supply Service. 

Citing the continued market oversupply, extensive consolidation, years of market distress and a poor OSV sector outlook, Maersk said that the division's valuation and market cap has been reduced. This has made it difficult to find a buyer or other exit solution, Maersk said. 

“We have over the past two years been investigating various structural solutions for Maersk Supply Service. However, having been unable to establish any solutions meeting our objective of creating shareholder value, we have decided to retain Maersk Supply Service,” said Claus V. Hemmingsen, Vice CEO of A.P. Moller – Maersk and CEO of the Energy division.

Maersk said that the offshore supply division has been investing in new business lines and that this effort is paying off. In 2018, about 30 percent of Maersk Supply Service’s revenue was generated from new business, including offshore wind, ocean cleanup and deep-sea mining.

“Our diversification initiatives are building presence in other markets and enable us to be less dependent on the traditional Oil & Gas market in the future," said Maersk Supply CEO Steen S. Karstensen. "With our modern fleet and skilled people, we are well positioned to take advantage of market opportunities in the future and differentiate us from our peers." 

The division's 44-vessel fleet has an average age of less than ten years, and it is still accepting delivery of newbuilds that it ordered in 2014, before the market downturn began.

Maersk Supply Service is far from the only operator in the sector to face challenging business conditions. Bourbon Offshore has deferred its debt repayments, sold off ships and cut crew levels amidst persistent underutilization and low day rates. Tidewater and Gulfmark both went through bankruptcy, then merged under Tidewater's ownership.


Reference: maritime-executive.com

Thursday, 21 March 2019 19:38

England - London to Tehran

Thursday, 21 March 2019 19:33

Ukraine - Kiev to Tehran

Thursday, 21 March 2019 19:32

Georgia - Tbilisi to Tehran

Thursday, 21 March 2019 19:31

Azerbayjan - Baku to Tehran

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