MAS, AirAsia set aside rivalry to form partnership
Malaysia's national carrier, Malaysian Airline System (MAS), and Airasia , have agreed to set aside their rivalry and work together after signing a share swap agreement, reported Reuters.
Based on the terms of the agreement, AirAsia's major shareholder Tune Air, controlled by its two principal founders Tony Fernandes and Kamarudin Meranun, will buy a 20.5 percent stake in MAS from MAS' major shareholder Khazanah Nasional
Khazanah will in turn buy a 10 percent stake in AirAsia from Tune Air, which is presently the single largest AirAsia shareholder with a 23 percent stake.
Khazanah will also buy 10 percent of AirAsia X, which is the unlisted long-haul arm of AirAsia.
MAS and AirAsia shares have been suspended since Monday.
Thursday, August 11, 2011
Tuesday, August 2, 2011
PORT - PAPERLESS BILLING
Monday July 25, 2011
PTP switches to paperless billing to promote sustainability
JOHOR BARU: Port of Tanjung Pelepas (PTP), the top transhipment container in the country, is switching to paperless billing come Sept 1 in line with one of its core values to promote sustainable development.
The switch will reduce the amount of paper invoices printed and mailed to customers worldwide.
“PTP will stop printing invoices for mailing to customers. Customers will no longer have to wait for invoices in their mail. To access invoices, customers just need to log in to PTP’s online portal with the given ID and password. The portal will be available 24/7 via secure access thus giving the customers the freedom to view and download their invoices at their convenience,” said a PTP spokesperson in a statement on Friday.
Paperless billing also reduces paper consumption and the amount of carbon dioxide (CO2) emitted during the traditional billing transportation process.
The introduction of paperless billing is timely, given the sharp increase in the number of invoices issued resulting from the volume increase this year. For the first six months of this year, the port handled 3.7 million 20-footer equivalent units (TEUs), up 16% from the same period last year.
“We expect to handle about 7.5 million TEUs of containers this year, a 16% increase from last year. Currently, we are generating some 4,000 invoices, or about 9,000 sheets of paper every month. Our paperless billing will save more than 100,000 sheets of paper per year. If these 100,000 sheets of paper were laid as an extension to each other, it would be as high as Mount Kinabalu” said the spokesperson.
PTP has also in the past taken other initiatives to promote a green business environment.
Among them include efforts to minimize carbon dioxide and any other noxious gas emissions by replacing old machineries and equipment with newer models which were more efficient in terms of fuel consumption.
“The lights in the port area have automatic sensors that turn off automatically when not in use” he further added.
“With all these efforts, we have successfully reduced our carbon emission from 17.65kg per TEU in 2009 to 16.63kg per TEU in 2010. For the year 2011, we are committed to reduce the emission per TEUs by a further 5% compared to 2010. This will bring our total reduction to 6,652 tonnes, which is the equivalent to planting 33,260 trees in 2011.
“At PTP, we believe in pursuing sustainable business practices, and the paperless billing initiative is just one example of how we can work towards this goal” said the spokeperson.
Customers will be briefed on the paperless billing to facilitate an easy transition and they will each be provided with a CD-ROM to guide them through the process and be able to access invoices immediately using the given ID and password.
PTP has been testing out the system with a few customers who have voluntarily switched to paperless billing since June last year and the response has been positive.
(Copyright © 1995-2011 Star Publications (M) Bhd (Co No 10894-D))
PTP switches to paperless billing to promote sustainability
JOHOR BARU: Port of Tanjung Pelepas (PTP), the top transhipment container in the country, is switching to paperless billing come Sept 1 in line with one of its core values to promote sustainable development.
The switch will reduce the amount of paper invoices printed and mailed to customers worldwide.
“PTP will stop printing invoices for mailing to customers. Customers will no longer have to wait for invoices in their mail. To access invoices, customers just need to log in to PTP’s online portal with the given ID and password. The portal will be available 24/7 via secure access thus giving the customers the freedom to view and download their invoices at their convenience,” said a PTP spokesperson in a statement on Friday.
Paperless billing also reduces paper consumption and the amount of carbon dioxide (CO2) emitted during the traditional billing transportation process.
The introduction of paperless billing is timely, given the sharp increase in the number of invoices issued resulting from the volume increase this year. For the first six months of this year, the port handled 3.7 million 20-footer equivalent units (TEUs), up 16% from the same period last year.
“We expect to handle about 7.5 million TEUs of containers this year, a 16% increase from last year. Currently, we are generating some 4,000 invoices, or about 9,000 sheets of paper every month. Our paperless billing will save more than 100,000 sheets of paper per year. If these 100,000 sheets of paper were laid as an extension to each other, it would be as high as Mount Kinabalu” said the spokesperson.
PTP has also in the past taken other initiatives to promote a green business environment.
Among them include efforts to minimize carbon dioxide and any other noxious gas emissions by replacing old machineries and equipment with newer models which were more efficient in terms of fuel consumption.
“The lights in the port area have automatic sensors that turn off automatically when not in use” he further added.
“With all these efforts, we have successfully reduced our carbon emission from 17.65kg per TEU in 2009 to 16.63kg per TEU in 2010. For the year 2011, we are committed to reduce the emission per TEUs by a further 5% compared to 2010. This will bring our total reduction to 6,652 tonnes, which is the equivalent to planting 33,260 trees in 2011.
“At PTP, we believe in pursuing sustainable business practices, and the paperless billing initiative is just one example of how we can work towards this goal” said the spokeperson.
Customers will be briefed on the paperless billing to facilitate an easy transition and they will each be provided with a CD-ROM to guide them through the process and be able to access invoices immediately using the given ID and password.
PTP has been testing out the system with a few customers who have voluntarily switched to paperless billing since June last year and the response has been positive.
(Copyright © 1995-2011 Star Publications (M) Bhd (Co No 10894-D))
EDUCATION - TRANSPORT & LOGISTICS
Monday August 1, 2011
Professional body CILTM recognises varsity’s logistics programme
By SHARIDAN M. ALI
sharidan@thestar.com.my
KUALA LUMPUR: A memorandum of agreement (MoA) signed between Chartered Institute of Logistics and Transport Malaysia (CILTM) and Universiti Utara Malaysia (UUM) recently will act as a springboard for the latter’s graduates in logistics studies to enter the industry.
CILTM president Datuk Abdul Radzak Abdul Malek said the MoA allowed for a greater and mutually beneficial cooperation between academia and the industry.
“Areas like exchange of knowledge from the industry to the academic through invited guest lectures by industry professionals can be made possible with this MoA.
“Others like joint research activities that has high application value to the industry, student-led out-of-classroom experiential learning activities and leadership camp for young professionals will add value to this MoA,” he said at the agreement singing.
The MoA entailed accreditation by CILTM to the Bachelor of Business Administration in Logistics and Transport (BBLT) programme currently offered by UUM.
“With this, the degree will not only be recognised globally but also has better marketability,” said Abdul Radzak.
The Chartered Institute of Logistics and Transport (CILT) is the international professional body for all sectors of the transport industry.
Founded in the United Kingdom in 1919 and granted a Royal Charter in 1926, it was formed to promote knowledge of the science and arts of logistics and transport and to provide a source of authoritative views for communication to government, industry and the community.
Abdul Radzak said the MoA was timely as Malaysia was now undertaking a huge step in the logistics and transport industry.
He said the formation of Land Public Transport Commission, the development of mass rapid transit system in the Klang Valley and the creation of Southern Logistics Hub in Iskandar Malaysia were just a few examples of the Government’s seriousness in developing the industry.
He said all these economic and infrastructure development activities spelt the need for qualified logistics and transportation professionals.
“The fact that UUM has its BBLT programme recognised by CILTM as a professional degree is just like a stamp of endorsement that the graduates of this degree from UUM are not only qualified academically but also equipped with skills that the industry needs.
“This endorsement is further amplified when the graduates are conferred the Member of The CILT (MILT) immediately upon their graduation. This will put them in a better position to compete in the job market,” he said.
UUM vice-chancellor Professor Datuk Dr Mohamed Mustafa Ishak said the university had been offering the BBLT since 1993 and so far, 431 graduates had completed their studies.
“At present, we have about 453 undergraduate students enrolled in the programme of which about 15% are from countries like Nigeria, Chad, Sudan, Somalia, Thailand, China, Indonesia and Saudi Arabia.
“Through this smart collaboration, our graduates are better positioned to face challenging careers as qualified professionals in logistics and transportation either in the Government or private sector,” he said.
Professional body CILTM recognises varsity’s logistics programme
By SHARIDAN M. ALI
sharidan@thestar.com.my
KUALA LUMPUR: A memorandum of agreement (MoA) signed between Chartered Institute of Logistics and Transport Malaysia (CILTM) and Universiti Utara Malaysia (UUM) recently will act as a springboard for the latter’s graduates in logistics studies to enter the industry.
CILTM president Datuk Abdul Radzak Abdul Malek said the MoA allowed for a greater and mutually beneficial cooperation between academia and the industry.
“Areas like exchange of knowledge from the industry to the academic through invited guest lectures by industry professionals can be made possible with this MoA.
“Others like joint research activities that has high application value to the industry, student-led out-of-classroom experiential learning activities and leadership camp for young professionals will add value to this MoA,” he said at the agreement singing.
The MoA entailed accreditation by CILTM to the Bachelor of Business Administration in Logistics and Transport (BBLT) programme currently offered by UUM.
“With this, the degree will not only be recognised globally but also has better marketability,” said Abdul Radzak.
The Chartered Institute of Logistics and Transport (CILT) is the international professional body for all sectors of the transport industry.
Founded in the United Kingdom in 1919 and granted a Royal Charter in 1926, it was formed to promote knowledge of the science and arts of logistics and transport and to provide a source of authoritative views for communication to government, industry and the community.
Abdul Radzak said the MoA was timely as Malaysia was now undertaking a huge step in the logistics and transport industry.
He said the formation of Land Public Transport Commission, the development of mass rapid transit system in the Klang Valley and the creation of Southern Logistics Hub in Iskandar Malaysia were just a few examples of the Government’s seriousness in developing the industry.
He said all these economic and infrastructure development activities spelt the need for qualified logistics and transportation professionals.
“The fact that UUM has its BBLT programme recognised by CILTM as a professional degree is just like a stamp of endorsement that the graduates of this degree from UUM are not only qualified academically but also equipped with skills that the industry needs.
“This endorsement is further amplified when the graduates are conferred the Member of The CILT (MILT) immediately upon their graduation. This will put them in a better position to compete in the job market,” he said.
UUM vice-chancellor Professor Datuk Dr Mohamed Mustafa Ishak said the university had been offering the BBLT since 1993 and so far, 431 graduates had completed their studies.
“At present, we have about 453 undergraduate students enrolled in the programme of which about 15% are from countries like Nigeria, Chad, Sudan, Somalia, Thailand, China, Indonesia and Saudi Arabia.
“Through this smart collaboration, our graduates are better positioned to face challenging careers as qualified professionals in logistics and transportation either in the Government or private sector,” he said.
Monday, August 1, 2011
OIL & GAS - GAS DISCOVERIES IN SABAH
Petronas strikes twice off Sabah
Malaysia's national oil company Petronas has made two shallow-water gas discoveries off the west coast of the Malaysian state of Sabah.
(Josh Lewis 28 July 2011 04:48 GMT)
It said the first discovery was made on the Samarang Asam Paya Block, about 130 kilometres south-west of Kota Kinabalu, in the Zuhal East-1 well.
The well was drilled in a water depth of 38 metres to a total depth of 2336 metres and Petronas said its current estimate of gas-initially-in-place was about 550 billion cubic feet.
It added the well intersected reservoirs similar to those encountered in a well about five kilometres to the east which flowed at a rate of 21 million cubic feet per day during testing.
Petronas is the sole equity holder in the Samarang Asam Paya Block production sharing contract.
The second discovery was made in the Menggatal-1 well in Block SB312, about 110 kilometres north-east of Kota Kinabalu.
The well was spudded in a water depth of 204 metres to a total depth of 2100 metres and flowed gas at a rate of 19 MMcfd during testing.
Petronas added it currently estimated gas-initially-in-place at the discovery to be about 650 Bcf.
Petronas holds a 60% stake in the Block SB312 PSC with Kuwait Foreign Petroleum Exploration Company holding the remaining 40% interest.
Malaysia's national oil company Petronas has made two shallow-water gas discoveries off the west coast of the Malaysian state of Sabah.
(Josh Lewis 28 July 2011 04:48 GMT)
It said the first discovery was made on the Samarang Asam Paya Block, about 130 kilometres south-west of Kota Kinabalu, in the Zuhal East-1 well.
The well was drilled in a water depth of 38 metres to a total depth of 2336 metres and Petronas said its current estimate of gas-initially-in-place was about 550 billion cubic feet.
It added the well intersected reservoirs similar to those encountered in a well about five kilometres to the east which flowed at a rate of 21 million cubic feet per day during testing.
Petronas is the sole equity holder in the Samarang Asam Paya Block production sharing contract.
The second discovery was made in the Menggatal-1 well in Block SB312, about 110 kilometres north-east of Kota Kinabalu.
The well was spudded in a water depth of 204 metres to a total depth of 2100 metres and flowed gas at a rate of 19 MMcfd during testing.
Petronas added it currently estimated gas-initially-in-place at the discovery to be about 650 Bcf.
Petronas holds a 60% stake in the Block SB312 PSC with Kuwait Foreign Petroleum Exploration Company holding the remaining 40% interest.
Thursday, July 28, 2011
MARITIME - SHIPPING ECONOMICS
Shippers count cost of slow steaming
Cargo owners are facing higher warehousing costs in Hong Kong and other Asian countries as they need to keep more inventory of goods and raw materials to overcome possible supply disruptions as a result of container shipping lines slowing the speed of their ships, reported the South China Morning Post.
Jacques Chan, general manager for Hong Kong and South China with global logistics group BDP International, said shippers in Hong Kong were also experiencing a shortage of space, in addition to higher costs.
He warned that if Hong Kong was saturated with cargo with no spare warehouse space, shippers would move to Singapore. "There would be a loss of Hong Kong business."
Chan was speaking after BDP International released the results of a survey of 290 cargo owners on the impact of container lines cutting vessel speeds. Of the shippers surveyed, 37 per cent were from the Asia-Pacific region.
Arnie Bornstein, BDP International executive director, said carriers such as Orient Overseas Container Line, Cosco Container Lines and Taiwan's Evergreen Marine, had cut the speed of their ships from around 25 knots to about 14 knots following the economic downturn in 2008. This has cut fuel consumption and exhaust emissions by 40 to 50 per cent.
But he said slow steaming had also increased voyage times. A transpacific trip from Hong Kong to Los Angeles that previously took 14 days now took an extra four to seven days. A 20-day trip from Hong Kong to Europe was lengthened by five to seven days, he said.
Bornstein said there was a lack of information from carriers over which services were sailing slower. Consequently, shippers were faced with uncertain delivery schedules and now no longer knew when their consignments would arrive. Shippers had to boost inventory, increasing their costs, to overcome these potential supply shortages.
"Practices companies have honed over the last 20 years have had to change," Bornstein said.
He added that shippers were "paying the price" in uncertain delivery schedules and higher inventory carrying costs, while shipping lines reaped the benefit of lower fuel bills.
Bornstein said the economic advantages of slow steaming enjoyed by carriers meant "all the signs are that slow steaming is here to stay".
But he said BDP's survey of exporters and importers, representing firms in the chemical, consumer goods, health-care and electronics industries, revealed that 92 per cent of cargo owners in Asia were feeling an impact from slow steaming.
Bornstein said the biggest impact for shippers in Asia was on customer service, inventory levels and scheduling of shipments. Some 48 per cent said they had changed the way they sourced raw materials.
About 38 per cent said they had moved from using three or four carriers to multiple shipping lines to get the best transit times and freight rates, while 36 per cent of firms had increased inventory levels.
Asked about how shipping lines could share the benefits, Bornstein said 73 per cent of Asian cargo owners would like lower freight rates, while 40 per cent wanted improved customer service.
Bornstein said: "In carriers' zeal to protect their business, they have overlooked they're also in business to serve their customers. Shippers want a more collaborative environment with carriers."
The results of the survey, which was carried out in March and April, bore out the responses given to the US Federal Maritime Commission when it launched an inquiry into slow steaming earlier this year. Shippers, including big US retail groups, said they had not seen any benefit from slow steaming. They complained that fuel cost savings had not been passed on to them.
B
Cargo owners are facing higher warehousing costs in Hong Kong and other Asian countries as they need to keep more inventory of goods and raw materials to overcome possible supply disruptions as a result of container shipping lines slowing the speed of their ships, reported the South China Morning Post.
Jacques Chan, general manager for Hong Kong and South China with global logistics group BDP International, said shippers in Hong Kong were also experiencing a shortage of space, in addition to higher costs.
He warned that if Hong Kong was saturated with cargo with no spare warehouse space, shippers would move to Singapore. "There would be a loss of Hong Kong business."
Chan was speaking after BDP International released the results of a survey of 290 cargo owners on the impact of container lines cutting vessel speeds. Of the shippers surveyed, 37 per cent were from the Asia-Pacific region.
Arnie Bornstein, BDP International executive director, said carriers such as Orient Overseas Container Line, Cosco Container Lines and Taiwan's Evergreen Marine, had cut the speed of their ships from around 25 knots to about 14 knots following the economic downturn in 2008. This has cut fuel consumption and exhaust emissions by 40 to 50 per cent.
But he said slow steaming had also increased voyage times. A transpacific trip from Hong Kong to Los Angeles that previously took 14 days now took an extra four to seven days. A 20-day trip from Hong Kong to Europe was lengthened by five to seven days, he said.
Bornstein said there was a lack of information from carriers over which services were sailing slower. Consequently, shippers were faced with uncertain delivery schedules and now no longer knew when their consignments would arrive. Shippers had to boost inventory, increasing their costs, to overcome these potential supply shortages.
"Practices companies have honed over the last 20 years have had to change," Bornstein said.
He added that shippers were "paying the price" in uncertain delivery schedules and higher inventory carrying costs, while shipping lines reaped the benefit of lower fuel bills.
Bornstein said the economic advantages of slow steaming enjoyed by carriers meant "all the signs are that slow steaming is here to stay".
But he said BDP's survey of exporters and importers, representing firms in the chemical, consumer goods, health-care and electronics industries, revealed that 92 per cent of cargo owners in Asia were feeling an impact from slow steaming.
Bornstein said the biggest impact for shippers in Asia was on customer service, inventory levels and scheduling of shipments. Some 48 per cent said they had changed the way they sourced raw materials.
About 38 per cent said they had moved from using three or four carriers to multiple shipping lines to get the best transit times and freight rates, while 36 per cent of firms had increased inventory levels.
Asked about how shipping lines could share the benefits, Bornstein said 73 per cent of Asian cargo owners would like lower freight rates, while 40 per cent wanted improved customer service.
Bornstein said: "In carriers' zeal to protect their business, they have overlooked they're also in business to serve their customers. Shippers want a more collaborative environment with carriers."
The results of the survey, which was carried out in March and April, bore out the responses given to the US Federal Maritime Commission when it launched an inquiry into slow steaming earlier this year. Shippers, including big US retail groups, said they had not seen any benefit from slow steaming. They complained that fuel cost savings had not been passed on to them.
B
Monday, July 25, 2011
MARITIME-ENVIRONMENT
Improving ships environmental performance
The shipping sector could become cleaner than the aviation industry following the approval by the UN shipping agency of a new energy efficiency design index and other measures aimed at improving ships' environmental performance, according to an NGO.
The new rules, adopted by the International Maritime Organisation earlier this month, could also save the shipping industry US$5 billion in fuel costs and cut carbon dioxide emissions by 20 million tonnes a year on new ships by 2020, said Peter Boyd, chief operating officer of the Carbon War Room, an NGO set up by a group including British billionaire Richard Branson.
Boyd said the IMO's new rules would lead to fuel savings of $50 billion a year and an annual reduction in carbon dioxide emissions of more than 220 million tonnes if the standards were applied to the existing fleet of 60,000 ships, reported the South China Morning Post.
Boyd was commenting after the IMO approved regulations to implement efficiency ratings for ships over 400 gross tonnes, which are expected to enter into force on January 1, 2013. The measure, which will apply to ships ordered after a specific date, was approved overwhelmingly by 48 countries that voted at the IMO's marine environment protection committee about 10 days ago.
China was one of only five countries that voted against the measure. Consequently, while mainland shipyards are likely to build more energy-efficient ships for foreign owners, there will be no pressure on those shipyards to comply when building ships to be registered in China for mainland owners such as China Ocean Shipping (Group).
Clauses in the pact allow countries to delay implementation for up to four to six years after the commencement date of the rules. As a result, there is some uncertainty over how quickly the energy-efficiency design index and the associated energy efficiency management plan will be implemented.
Under the IMO regulations shipowners will have to meet the new efficiency ratings for each type of vessel they order. Dry cargo bulk carriers will have a different rating than tankers or container ships.
The IMO also leaves the choice of technologies used in a specific ship design to the maritime industry. This could include changes to the hull design or propulsion system, which are already being incorporated by some shipowners, including Hong Kong operators.
Asked if shipping companies would seek early compliance with the ratings or take advantage of the potential delay given to some countries, Arthur Bowring, managing director of the Hong Kong Shipowners' Association, said: "It really depends on the cost of compliance. Shipbuilders might try to ask for a premium [on the cost of a new ship] to implement early because it is not yet required by regulation."
But Bowring said the industry was "suffering an overcapacity of shipbuilding and so the cost might well be absorbed, at least partially".
"Whether flag states will take advantage of the four-year delay could well be a political decision to object to the process rather than anything else," Bowring said. He also thought it was "actually in the owner's interest to have the energy efficiency design index for his new buildings, in that it should make the ship more attractive as a sale candidate later on."
Tim Huxley, chief executive of Wah Kwong Maritime Holdings, which operates a fleet of tankers and dry cargo ships, said it was too soon to assess the impact of the regulations on its operations, "although it will obviously have an impact on any new ships we might build in the future. The interesting part is going to be how quickly the shipbuilding and engine manufacturers respond."
One Hong Kong shipowner said vessels were designed to have a lifespan of 25 to 27 years, but the impact of the IMO regulations meant that some ships being delivered now could already be obsolete.
Jan Rindbo, chief operating officer of Pacific Basin Shipping, said: "We are supportive of the creation of sensible but effective industry-wide measures to reduce emissions, and for such measures to be the jurisdiction of the IMO."
The shipping sector could become cleaner than the aviation industry following the approval by the UN shipping agency of a new energy efficiency design index and other measures aimed at improving ships' environmental performance, according to an NGO.
The new rules, adopted by the International Maritime Organisation earlier this month, could also save the shipping industry US$5 billion in fuel costs and cut carbon dioxide emissions by 20 million tonnes a year on new ships by 2020, said Peter Boyd, chief operating officer of the Carbon War Room, an NGO set up by a group including British billionaire Richard Branson.
Boyd said the IMO's new rules would lead to fuel savings of $50 billion a year and an annual reduction in carbon dioxide emissions of more than 220 million tonnes if the standards were applied to the existing fleet of 60,000 ships, reported the South China Morning Post.
Boyd was commenting after the IMO approved regulations to implement efficiency ratings for ships over 400 gross tonnes, which are expected to enter into force on January 1, 2013. The measure, which will apply to ships ordered after a specific date, was approved overwhelmingly by 48 countries that voted at the IMO's marine environment protection committee about 10 days ago.
China was one of only five countries that voted against the measure. Consequently, while mainland shipyards are likely to build more energy-efficient ships for foreign owners, there will be no pressure on those shipyards to comply when building ships to be registered in China for mainland owners such as China Ocean Shipping (Group).
Clauses in the pact allow countries to delay implementation for up to four to six years after the commencement date of the rules. As a result, there is some uncertainty over how quickly the energy-efficiency design index and the associated energy efficiency management plan will be implemented.
Under the IMO regulations shipowners will have to meet the new efficiency ratings for each type of vessel they order. Dry cargo bulk carriers will have a different rating than tankers or container ships.
The IMO also leaves the choice of technologies used in a specific ship design to the maritime industry. This could include changes to the hull design or propulsion system, which are already being incorporated by some shipowners, including Hong Kong operators.
Asked if shipping companies would seek early compliance with the ratings or take advantage of the potential delay given to some countries, Arthur Bowring, managing director of the Hong Kong Shipowners' Association, said: "It really depends on the cost of compliance. Shipbuilders might try to ask for a premium [on the cost of a new ship] to implement early because it is not yet required by regulation."
But Bowring said the industry was "suffering an overcapacity of shipbuilding and so the cost might well be absorbed, at least partially".
"Whether flag states will take advantage of the four-year delay could well be a political decision to object to the process rather than anything else," Bowring said. He also thought it was "actually in the owner's interest to have the energy efficiency design index for his new buildings, in that it should make the ship more attractive as a sale candidate later on."
Tim Huxley, chief executive of Wah Kwong Maritime Holdings, which operates a fleet of tankers and dry cargo ships, said it was too soon to assess the impact of the regulations on its operations, "although it will obviously have an impact on any new ships we might build in the future. The interesting part is going to be how quickly the shipbuilding and engine manufacturers respond."
One Hong Kong shipowner said vessels were designed to have a lifespan of 25 to 27 years, but the impact of the IMO regulations meant that some ships being delivered now could already be obsolete.
Jan Rindbo, chief operating officer of Pacific Basin Shipping, said: "We are supportive of the creation of sensible but effective industry-wide measures to reduce emissions, and for such measures to be the jurisdiction of the IMO."
MARITIME-PORT PERFORMANCE
Malaysian ports see 10% rise in box throughput
Malaysian ports handled 10.5 per cent more containers in the first six months of the year, said Transport Minister Kong Cho Ha, reported Bernama Daily News.
He said 9,856,859 TEUs were handled between January and June against 8,921,113 TEUs registered in the same period last year.
"This reflected a booming container handling business in the country," he said.
Kong said the encouraging performance indicated that Malaysian ports were strategically located to handle containers to and from abroad.
He also disclosed that Port Klang and Port of Tanjung Pelepas last year succeeded in retaining their 13th and 17th position in the top 20 list of container ports in the world.
The ministry said Port Klang handled the largest number of containers in the first six months of the year. Westports and Northport together handled 4.7 million TEUs of containers against 4.3 million TEUs registered in the same period last year.
Malaysian ports handled 10.5 per cent more containers in the first six months of the year, said Transport Minister Kong Cho Ha, reported Bernama Daily News.
He said 9,856,859 TEUs were handled between January and June against 8,921,113 TEUs registered in the same period last year.
"This reflected a booming container handling business in the country," he said.
Kong said the encouraging performance indicated that Malaysian ports were strategically located to handle containers to and from abroad.
He also disclosed that Port Klang and Port of Tanjung Pelepas last year succeeded in retaining their 13th and 17th position in the top 20 list of container ports in the world.
The ministry said Port Klang handled the largest number of containers in the first six months of the year. Westports and Northport together handled 4.7 million TEUs of containers against 4.3 million TEUs registered in the same period last year.
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