Samsung Gobbles Competitors

By MarEx 2015-09-01 16:11:43

Samsung Heavy Industries has signed a deal to take over management of financially troubled Sungdong Shipbuilding & Marine Engineering. The agreement is for four years with an option for three additional years. Samsung will take over Sungdong’s purchases, sales, production and technology while Korea Eximbank will operate the shipyard’s finances, human resources and labor management divisions.

Sungdong is a mid-sized shipbuilder and has experienced a shortage of operating funds. In May, it was reported that Sungdong was seeking $385 million from Korean creditors to fund operations and pay its employees.

Samsung Heavy has focused on offshore investments, LNG and megaships but is seeking to diversify its assets after posting a $1.2 billion Q2 loss. Samsung has attributed the losses to delayed construction of oil and gas fields as it attempted to challenge China’s shipyards.


Ships Collide in Bosphorus Strait

By MarEx 2015-09-01 16:03:32

The M/T Paros Wind collided with the M/V CS Jaden on August 31 in the Black Sea. The collision occurred about eight miles from the entrance to the Bosphorus Strait. The CS Jaden was transporting wheat from Istanbul to Egypt’s Port Said. The Paros Wind was traveling from Russia to an unknown destination. No injuries have been reported.

Both vessels are anchored at Kumkoy Road for damage assessment and leak inspections. Paros Wind is a 17,060 dwt vessel owned by Leader Shipmanagement in the Ukraine. The CS Jaden is 38,101 dwt and owned by the Campbell Shipping Company in the Bahamas.

This is the latest in a string of incidents in the Turkish straits region. In July, the M/V Akel sank following a collision with the M/V Sengul-K. One crew member died, and the remaining 11 were rescued by coast guard officials. Earlier in July, the 6,476-ton cargo vessel M/V Majed and Randy crashed into a villa on the Bosphorus Strait.


Crowds Fading in San Francisco Bay

By MarEx 2015-09-01 15:54:39

San Francisco Bay’s back log of container ships is fading. The Port reported no vessels at anchor waiting for berths at its five marine terminals. It was the sixth straight day of no waiting after a summer-long buildup of ships in the Bay.

“The vessels waiting to berth have been declining the past three weeks,” said Maritime Director John Driscoll. “Ships are arriving in Oakland and going straight to berth – just what our customers need and how we expect the Port to operate every day.”

As many as 13 ships filled the San Francisco Bay anchorage in July. They were delayed by a labor shortage that slowed vessel loading and unloading in Port. Since then, the number has steadily dwindled.

The Port said an influx of additional longshore labor over the past six weeks has helped eliminate the backlog. About 150 more dockworkers are joining the work force to accelerate vessel operations in Oakland. They’re being augmented by more than 300 casual or part-time workers. Another 30 marine clerk positions are being created, as well.

In the past four days, all requests for labor have been filled at Port of Oakland marine terminals. For much of the summer, only 50-to-70 percent of the labor orders were filled.

The Port cautioned that vessel backlogs could reoccur until all longshore labor reinforcements are in place. That could take another four-to-six weeks, the Port said. Growth in the labor force is expected to be completed in time for the autumn peak shipping season.

The Port said it continues to work on cargo congestion in marine terminals that was exacerbated by vessel backlogs. Proposed remedies include Saturday gates and a common pool of container chassis to help harbor truckers move containers more quickly. The measures are intended to hasten cargo delivery to customers.