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APM Terminals Invests in New Terminal in Morocco

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  • As Container Shipping Woes Push CSCL Deep into Red

Maersk’s APM Terminals has been named as the operator of a new container transshipment terminal at the Tanger Med 2 port complex, situated in Morocco, on Africa’s northwest coast near the mouth of the Mediterranean Sea on the Strait of Gibraltar.

APM Terminals already operates the APM Terminals Tangier facility at Tanger Med 1 port, which started operations in July of 2007 and handled 1.7 million TEUs in 2015.

Total investment in the new terminal is expected to be EUR 758 million, with APMT’s sister liner company Maersk Line to be an important customer of the new terminal.

The new terminal is scheduled to open in 2019, under the terms of a 30-year concession agreement with the Tanger Med Special Agency (TMSA), which has responsibility for the development and management of the Tanger Med port complex.The new terminal will have annual capacity of five million TEUs.

Tanger-Med is the second-busiest container port on the African continent after Port Said, Egypt. The new APM Terminals MedPort Tangier terminal will increase the port’s total annual throughput capacity to over nine million TEUs.

APM Terminals MedPort Tangier will have up to 2,000 meters of quay length and will feature the technology pioneered at the APM Terminals Maasvlakte II Rotterdam terminal which opened in 2015, the company said.

“APM Terminals has been in Morocco since the creation of our first company APM Terminals Tangier in March 2005 in partnership with AKWA Group and the start of port operations in July 2007. Today’s announcement shows our strong commitment to investing in trade and improving supply chains in the West Med market. Morocco and its port arm, TMSA, have been very supportive of APM Terminal’s vision for the West Med,” said APM Terminals CEO Kim Fejfer.

While African ports at present account for only 4.5% of global port throughput (including transshipment cargoes), the United Nations 2015 World Population Prospects Report projects that more than half of the world’s population growth between 2015 and 2050 will occur in Africa, with the African population more than doubling from 1.1 billion to 2.4 billion over the next three and a half decades.

Meanwhile, strong headwinds in the container shipping industry have pushed China Shipping Container Lines Company Limited (CSCL) to a loss of RMB 2.95 billion (USD 456.5 million) against a RMB 1.04 bilion profit from 2014.

The revenue of the group decreased from RMB 36 billion in 2014 to RMB 31.8 billion in 2015, representing a decrease of 11.8%.

The volume of loaded cargo in 2015 amounted to 7.8 million TEU, also a decrease of 3.5% as compared with 2014.

In 2015, the company took in five new 19,100 TEU vessels, while continuing to retire and dispose of small and aged vessels with excessive fuel consumption and incurring high maintenance costs.

As at 31 December 2015, the company had a fleet of 173 vessels, with a total operating capacity of 889,000 TEU, representing an increase of 163,000 TEU, or 22.4%, as compared with the same period of last year.

As of this year the company is embarking on a restructuring, changing into a listed financial services platform focusing on shipping finance services by leasing its containers and container vessels to COSCO.

The move is also expected to see disposal of its equity interests in the container shipping supporting business and CS Ports, as well as acquisition of the leasing and financial assets and equity interests of COSCO Group and China Shipping Group.

World Maritime News

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WAIVER CESSATION: Igbokwe urges NIMASA to evolve stronger collaboration with Ships owners

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…Stresses the need for timely disbursement of N44.6billion CVFF***

Highly revered Nigerian Maritime Lawyer, and Senior Advocate of Nigeria (SAN), Mike Igbokwe has urged the Nigeria Maritime Administration and safety Agency (NIMASA) to partner with ship owners and relevant association in the industry to evolving a more vibrant merchant shipping and cabotage trade regime.

Igbokwe gave the counsel during his paper presentation at the just concluded two-day stakeholders’ meeting on Cabotage waiver restrictions, organized by NIMASA.

“NIMASA and shipowners should develop merchant shipping including cabotage trade. A good start is to partner with the relevant associations in this field, such as the Nigeria Indigenous Shipowners Association (NISA), Shipowners Association of Nigeria (SOAN), Oil Trade Group & Maritime Trade Group of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

“A cursory look at their vision, mission and objectives, show that they are willing to improve the maritime sector, not just for their members but for stakeholders in the maritime economy and the country”.

Adding that it is of utmost importance for NIMASA to have a through briefing and regular consultation with ships owners, in other to have insight on the challenges facing the ship owners.

“It is of utmost importance for NIMASA to have a thorough briefing and regular consultations with shipowners, to receive insight on the challenges they face, and how the Agency can assist in solving them and encouraging them to invest and participate in the maritime sector, for its development. 

“NIMASA should see them as partners in progress because, if they do not invest in buying ships and registering them in Nigeria, there would be no Nigerian-owned ships in its Register and NIMASA would be unable to discharge its main objective.

The Maritime lawyer also urged NIMASA  to disburse the Cabotage Vessel Financing Fund (CVFF)that currently stands at about N44.6 billion.

“Lest it be forgotten, what is on the lips of almost every shipowner, is the need to disburse the Cabotage Vessel Financing Fund (the CVFF’), which was established by the Coastal and Inland Shipping Act, 2003. It was established to promote the development of indigenous ship acquisition capacity, by providing financial assistance to Nigerian citizens and shipping companies wholly owned by Nigerian operating in the domestic coastal shipping, to purchase and maintain vessels and build shipping capacity. 

“Research shows that this fund has grown to about N44.6billion; and that due to its non-disbursement, financial institutions have repossessed some vessels, resulting in a 43% reduction of the number of operational indigenous shipping companies in Nigeria, in the past few years. 

“Without beating around the bush, to promote indigenous maritime development, prompt action must be taken by NIMASA to commence the disbursement of this Fund to qualified shipowners pursuant to the extant Cabotage Vessel Financing Fund (“CVFF”) Regulations.

Mike Igbokwe (SAN)

“Indeed, as part of its statutory functions, NIMASA is to enforce and administer the provisions of the Cabotage Act 2003 and develop and implement policies and programmes which will facilitate the growth of local capacity in ownership, manning and construction of ships and other maritime infrastructure. Disbursing the CVFF is one of the ways NIMASA can fulfill this mandate.

“To assist in this task, there must be collaboration between NIMASA, financial institutions, the Minister of Transportation, as contained in the CVFF Regulations that are yet to be implemented”, the legal guru highlighted further. 

He urged the agency to create the right environment for its stakeholders to build on and engender the needed capacities to fill the gaps; and ensure that steps are being taken to solve the challenges being faced by stakeholders.

“Lastly, which is the main reason why we are all here, cessation of ministerial waivers on some cabotage requirements, which I believe is worth applause in favour of NIMASA. 

“This is because it appears that the readiness to obtain/grant waivers had made some of the vessels and their owners engaged in cabotage trade, to become complacent and indifferent in quickly ensuring that they updated their capacities, so as not to require the waivers. 

“The cessation of waivers is a way of forcing the relevant stakeholders of the maritime sector, to find workable solutions within, for maritime development and fill the gaps in the local capacities in 100% Nigerian crewing, ship ownership, and ship building, that had necessitated the existence of the waivers since about 15 years ago, when the Cabotage Act came into being. 

“However, NIMASA must ensure that the right environment is provided for its stakeholders to build and possess the needed capacities to fill the gaps; and ensure that steps are being taken to solve the challenges being faced by stakeholders. Or better still, that they are solved within the next 5 years of its intention to stop granting waivers”, he further explained. 

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Breaking News: The Funeral Rites of Matriarch C. Ogbeifun is Live

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The Burial Ceremony of Engr. Greg Ogbeifun’s mother is live. Watch on the website: www.maritimefirstnewspaper.com and on Youtube: Maritimefirst Newspaper.

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Wind Farm Vessel Collision Leaves 15 Injured

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…As Valles Steamship Orders 112,000 dwt Tanker from South Korea***

A wind farm supply vessel and a cargo ship collided in the Baltic Sea on Tuesday leaving 15 injured.

The Cyprus-flagged 80-meter general cargo ship Raba collided with Denmark-flagged 31-meter wind farm supply vessel World Bora near Rügen Island, about three nautical miles off the coast of Hamburg. 

Many of those injured were service engineers on the wind farm vessel, and 10 were seriously hurt. 

They were headed to Iberdrola’s 350MW Wikinger wind farm. Nine of the people on board the World Bora were employees of Siemens Gamesa, two were employees of Iberdrola and four were crew.

The cause of the incident is not yet known, and no pollution has been reported.

After the collision, the two ships were able to proceed to Rügen under their own power, and the injured were then taken to hospital. 

Lifeboat crews from the German Maritime Search and Rescue Service tended to them prior to their transport to hospital via ambulance and helicopter.

“Iberdrola wishes to thank the rescue services for their diligence and professionalism,” the company said in a statement.

In the meantime, the Hong Kong-based shipowner Valles Steamship has ordered a new 112,000 dwt crude oil tanker from South Korea’s Sumitomo Heavy Industries Marine & Engineering.

Sumitomo is to deliver the Aframax to Valles Steamship by the end of 2020, according to data provided by Asiasis.

The newbuild Aframax will join seven other Aframaxes in Valles Steamship’s fleet. Other ships operated by the company include Panamax bulkers and medium and long range product tankers.

The company’s most-recently delivered unit is the 114,426 dwt Aframax tanker Seagalaxy. The naming and delivery of the tanker took place in February 2019, at Namura Shipbuilding’s yard in Japan.

Maritime Executive with additional report from World Maritime News

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