COS Weekly News - 11 May 2012
Friday, 11 May 2012 14:58
COS News – Week ending 11 May 2012
Issue No. 208
PRINCE RUPERT FASTEST GROWING NORTH AMERICAN CONTAINER HUB
The Journal of Commerce has reported Prince Rupert as the fastest-growing container port in North America in 2011. While 2011 imports increased 20.5 percent, the 59.1 percent growth in exports helped push the port into top spot. Mexican container ports led in 2011 import with a 16.2 percent increase, outperforming overall Canadian ports increase of 3.6 percent and US ports, 3 percent.
CANDA PLACE – HIGH VOLUME CRUISE PASSENGER DAYS
On Friday, May 11, 2012 and Saturday, May 19, 2012, cruise passenger volumes at Canada Place and Ballantyne cruise terminals are expected to peak, reaching between 13,000 and 20,000 embarking and disembarking passengers on each of the days. This peak will occur between 7:00 am and 5:00 pm. On these two high volume days, higher than normal vehicle traffic volumes are anticipated in the downtown core, along with increased demand for taxis and the use of public transportation.
WHITE ROCK PROTESTORS ARRESTED AFTER BLOCKING COAL SHIPMENT
About a dozen people were arrested last weekend after protesters in White Rock tried to block a coal shipment arriving by rail for export from BC ports. The protesters, from British Columbians for Climate Action, were arrested and released after being served with $115 tickets for trespassing on railway property.
Government Updates
AMENDMENTS TO THE COASTAL FERRY ACT
In response to the independent BC Ferry Commissioner’s review, the provincial government introduced amendments to the Coastal Ferry Act. Amendments to the act give the commissioner more flexibility to determine the amount of revenue needed to sustain operations and support ongoing investment. The commissioner will also be given additional responsibility to oversee the costs of providing the ferry service. These changes will help reduce the pressure on fares. In addition to the legislative changes:
- The government will increase its financial contribution to BC Ferries by $79.5 million to reduce the pressure for higher fares.
- BC Ferries will need to find efficiencies to reduce operating costs.
- There will be significant adjustments to service levels, and discussions with communities about trade-offs among service adjustments, fare increases and potential community contributions.
- In addition, government will seek public input to develop strategies to support a vision for connecting coastal communities.
Other News
US CRUDE OIL IMPORTS BY SEA CONTINUE TO DECLINE
Crude oil imports to the US by sea show no signs of recovery and in fact continue to decline. Lloyd’s data indicates that over the past 5 years, imports have declined from 9.6 to 7.4 million barrels/day which annualized equates to a decline of 110 million tons/year. The primary supply side serving the US is South America, the Middle East and West Africa with Saudi Arabia being the single largest individual supplier. As US refineries continue to close, demand for externally sourced refined products is increasing.
On the other side of the world, before the end of this year a new pipeline which bypasses the ever sensitive Strait of Hormuz will begin pumping around 1.4m barrels per day of crude from Abu Dhabi to Fujairah. Whilst only a fraction of what moves through Hormuz by tankers on a daily basis, this is a first step to circumvent Iranian threats to close the Strait.
Please see the link to the April 2012 tanker market update from Teekay’s Market Analyst Christian Waldegrave on the bridge on the Nassau Spirit when she recently called Vancouver.
http://www.youtube.com/watch?v=aswHwym0zKU
PIRATES TAKE PRODUCT TANKER CARGO OFF TOGO
Pirates have released the product tanker BW Rhine off Nigeria coast after helping themselves to a slice of the 55,000 tons of gasoline onboard. The vessel had been held incommunicado for a week after seizing her in the “security patrolled” anchorage in Lome, Togo. Readers are requested to report the emergence of new gas stations in Togo in the coming weeks.
M.V. BW Rhine M.V. Smyrni
According to a reports earlier today, Somali pirates have hijacked the 150,000 DWT products tanker Smyrni approximately 450NM South East of Salalah, Oman whilst in the International Transit Corridor. It appears that she did not employ an armed security team onboard. The recent decision to extend the mandate of EU Navfor to include the Somali coast and territorial and internal waters to an area 1.5 times the size of Europe is proving to be a further stretch on naval forces. EU Navfor capacity typically comprises four to seven surface combat vessels and two to three maritime patrol and reconnaissance aircraft.
COSTA CONCORDIA SALVAGE
An interesting video has emerged from Titan Salvage, which was successful in being awarded the contract, as to how they might go about the operation.
PANAMA’S CONTAINER HANDLING CAPACITY SET TO GROW SUBSTANTIALLY
Panama’s Maritime Authority has approved construction and operation of a new container terminal at the Atlantic entrance to the Panama Canal. Phase one of the $600 million and 2million TEU capacity Panama Colón Container Port Terminal is scheduled to open in late 2014 to coincide with the expected commissioning of the enlarged Canal. The plan calls for capacity to handle vessels of up to 18,000 TEU. Existing facilities include Evergreen’s Colón Container Terminal and Manzanillo International Terminal, operated by Stevedoring Services of America. In addition, Panama Ports Co, part of Hutchison Port Holdings, manages the container port terminals at Balboa, on the Pacific Ocean, and Cristobal on the Atlantic Ocean.
Colon Container Terminal (left) and Manzanillo International Terminal (right)
HMS OCEAN POSITIONED AS UK OLYMPIC MARITIME SECURITY HQ
A Royal Navy helicopter carrier, HMS Ocean, is now moored on the River Thames at Greenwich, London to undertake exercises as the maritime security command and control centre for the London Olympics. The exercises involves a wide range of capabilities being rehearsed over a nine-day period beginning last weekend, including the testing of air defense missile systems at sites around London and the use of the Typhoon fighters stationed at a nearby Royal Air Force base. The London Olympics will run from July 27 to August 12.
Market Update
A generally quiet week with the Baltic Dry Index closing on Thursday on 1146 points, compared to 1157 points last week and 1148 points the week before.
Cape Size Panamax Supramax
Index 1618 1350 1116
One week ago 1527 1635 1108
Spot time charter $8,800/day $10,800/day $11,700/day
One week ago $7,100/day $13,000/day $11,600/day
Upcoming Events
ICMA XVIII - REGISTRATION
May 13 – 18 - The Vancouver Maritime Arbitrators Association, (VMAA), invites you to the International Congress of Maritime Arbitrators, ICMA XVIII, to be held at the Pan Pacific Hotel, Vancouver British Columbia, Canada. ICMA provides a forum for arbitrators, national maritime arbitration associations, marine insurers, ship owners, charterers, cargo interests and the legal community from around the world to come together to exchange views and developments. After 21 years ICMA returns to Vancouver in 2012. For more information or to register, visit www.icma2012.com
COW BAY PUBLIC OPEN HOUSE
May 15 - The Prince Rupert Port Authority is holding an open house on Tuesday, May 15th from 6 to 8 pm at the Crest Hotel to unveil the vision for Cow Bay, on the Prince Rupert waterfront. Input from community stakeholders lead to the master development plan for the area designed by Office of Mcfarlane Biggar Architects & Designers Inc. (OMB).
PORT SECURITY CONFERENCE
May 15 – 17 – The 2012 Canadian Port and Maritime Security Conference will be held this year at the Coast Coal Harbour Hotel in Vancouver, BC. For more information visit: www.portsecure.ca
PLIMSOLL CLUB ANNUAL SPRING GOLF TOURNAMENT
May 16 – The Plimsoll Club will be holding this year’s golf tournament at the University Golf Club. For more information and to register your foursome, see the attached flyer or contact Renae Warnock at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
GREEN MARINE ANNUAL CONFERENCE – GREEN TECH 2012
May 29 – 30 – Green Tech 2012 will be held this year in Quebec City at the Loews Hotel Le Concorde.
This will be Green Marine’s 5th edition of its annual conference on green technologies and innovation in marine transportation. Detailed information and registration forms for exhibitors and participants are available on Green Tech 2012 website: www.green-marine.org/annual-conference.
PACIFIC PILOTAGE AUTHORITY ANNUAL GENERAL MEETING
May 31 – The PPA will hold its Annual General Meeting on Thursday, May 31st at 3pm at Simon Fraser University, Harbour Centre Room 7000, 515 West Hastings Street, Vancouver. The agenda includes the 2011 financial report, an operational overview and expectations for 2012 and beyond. To RSVP, please email Diane Street at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or phone 604-666-8688 by Monday, May 21st.
BC CHAMBER OF COMMERCE SUMMIT
June 4 – 5 – The BC Chamber of Commerce is hosting a Transportation Summit on “Shipping and Exports to the Asia Pacific” Wolfgang Freese, President of Hapag-Lloyd Region Americas was added to the list of noteworthy speakers and panelists. The early bird rate for registration expires on May 18th. To view details and to register, visit www.bcchambersummit.ca.
BUSINESS OF SHIPPING COURSE – NANAIMO, BC
June 7 – The Chamber of Shipping of BC and the Institute of Chartered Shipbrokers will hold its next full day course in Nanaimo. Details of the course content and registration form are attached.
VANCOUVER GRAIN EXCHANGE GOLF TOURNAMENT
June 15 - This year’s golf tournament will be held at Quilchena Golf & Country Club on June 15th. Proceeds from the 50/50 draw will benefit Wigs for Kids. For more information contact Caroline Simister at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
ARCTIC SHIPPING UPDATE
June 21 – A half-day morning session is planned to discuss developments in Arctic Shipping with the Canadian Coast Guard. Further details to follow.
MARITIME LOW EMISSIONS CONFERENCE – TACOMA, WA
June 28 - The Chamber of Shipping in conjunction with the Pacific Merchant Shipping Association will be holding a US-Canada full day session on the implementation of the Emissions Control Area on Thursday, June 28th from 0800 to 1700 hrs in the Hotel Murano in Tacoma, WA. Registration details to be provided in due course.
MARITIME SECURITY CHALLENGES (MSC) 2012
Oct 1–3 – The 5th annual conference presented by Maritime Forces Pacific and Royal Roads University will take place in Victoria, BC and will address the illegal movement of people and goods at sea, security issues in the Gulf of Guinea, maritime applications of unmanned and autonomous vehicles, and shipbuilding and future naval requirements. To register or for more information on the conference or sponsorship opportunities visit: http://mscconference.ca/
May 13-18 International Congress of Maritime Arbitrators XVIII Conference
May 15-17 Port Security Conference
May 16 Plimsoll Club Annual Spring Golf Tournament
May 17 COS Liner Committee Meeting @ 12:00
May 21 Victoria Day – Office Closed
May 24 WMCC Annual General Meeting @ 09:00
May 24 WMCC Board of Directors Meeting @ 09:30
May 29 PMV Annual General Meeting
May 29-30 Green Marine Annual Conference – Green Tech, Quebec City
May 30 PACMAR / NANS Meeting @ 10:30
May 31 Pacific Pilotage Authority Annual General Meeting @ 15:00
Jun 7 Business of Shipping Course (full day) Vancouver Island Convention Centre, Nanaimo
Jun 15 Vancouver Grain Exchange Golf Tournament
Jun 21 Arctic Shipping Update
Ship of the Week
mega yacht – Eclipse
Owned by the Russian businessman, Mr. Roman Abramovich, reputed to be the 68th richest person in the world with a fortune of $12 billion, the 163.5m long Eclipse is currently the world's largest private yacht and is believed to have cost him a cool $1.1 billion. Built at the Blohm & Voss shipyard in Hamburg and fitted out in Denmark, Eclipse features armor plating, bullet-proof windows, two helicopter pads, three launches, a midget submarine and a laser shield system for keeping the paparazzi at a distance. Guests stay in any of 11 guest cabins, each said to have having six-foot movie screens. The yacht also comes complete with expensive artwork which Mr. Abramovich has been accumulating in recent years. Approximately 70 full time crew members are gainfully employed catering to every whim of Mr. Abramovich’s guests.
The 13,000 GRT Eclipse has a top speed of 25 knots but generally cruises at a mere 22 knots. Mr. Abramovich who is also owner and Chairman of Chelsea football Club in the UK also has the burden of choosing from his four other yachts: Sussurro, Titan, Umbra, and Luna.
Born in 1966 Mr. Abramovich is the main owner of the private investment company Millhouse LLC. He is reputed to have kick started his multi-billion-dollar business during his army service where he sold stolen gasoline to officers of his unit. In 1988 under President Gorbachev, during the unstable period known as Perestroika, Mr. Abramovich seized his opportunity and between 1992 and 1995 he founded several companies specializing in the trading of oil and oil products. Despite dubious legality, his enterprises flourished in the chaotic years under President Yeltsin and he is well known to be close to current Russian President, Vladimir Putin.
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