It is week 34, it is Thursday, and Project Cargo Weekly is back again.
Seems whenever I am writing this editorial, I am on the move. Right now I am in Denmark visiting my parents, and although it is always a pleasure, it is also with a sad background as I am here on today, 26th of August, which also happens to be the birthday of my late brother who left our family, now 9 months ago. We are having a meeting with the executor of his will, and since many jurisdictions are involved, it is time for an update on the matter not least to hear about how many hours the lawyers so far have spent……and yes everything legal takes time and must be right, but one cannot seem to wonder whether some of the hours billed are over the top.
My advice from all of this as we learn from both good and bad things in life is to be as crystal clear and transparent as you ever can be when it is time to make your will, and to be clear about jurisdictions, especially if you are an international businessperson with property and holdings in several countries. There is no doubt that the tax authorities, in particular here in Europe in order to finance the ever bloated welfare state, will do what it takes to INSIST that you are liable just in their country.
Still money or not, lawyers or not, the hole that a loss in one’s family leaves behind can never really be filled up completely; it is always there.
I made this trip by car, first driving Stockholm to Gothenburg, and there having a few meetings in town with:
Transatlantic Container (part of Xpress Feeder)
I then took the ferry for 3 1/2 hrs to Frederikshavn which also happens to be the place where I was born many kilos ago. See here some pictures from the ferry trip and departure/arrival.
I will have several more meetings face-to-face in the coming week before returning to Stockholm on September 3 and will visit Aarhus/Copenhagen/Norrköping/Södertälje. There is clearly an urge / satisfaction from people when they meet you again personally instead of via Zoom, etc.
On the shipping front, things are NOT improving, and forecasts from some of the major lines I have spoken to tell me that things will not be better until at least mid next year… if even then. Almost 40 ships are waiting to be discharged outside Los Angeles, and that also means they will be late in returning to Asia to collect the next batch of China exports, creating yet another bottle neck.
I just wonder what is it that we all need since we are buying this much stuff ? And why didn’t we learn in time to have at least some production at “home” and not only overseas, staring ourselves blind at cheaper production costs? Time will tell I suppose, and we will see what happens in the future. Chairing a network meeting yesterday for www.clcprojects.com, it was evident too that concerning the COVID-19 situation, many countries are still in dire lack of proper management on this score after months of it happening!!
Now turning to the interviews at hand… Today we start off in a place famous for James Bond (I guess somehow), yachts, and the good life, and it is Monaco. We speak to R-Logistic. It turns out they are part of a bigger group and have big interests and capabilities in Africa.
Then we turn north and meet up with a company owning some very special and suitable ships for high/heavy and oversized cargo, and the company is Meriaura Group, Finland. I was told by them that Turku, in fact, used to be the capital, NOT Helsinki….
Finally, we visit the country famous for fashion, food, wine, scenery, but also for a bloated bureaucracy in the extreme, and it is France. C.E.R.L. in Lyon tells us a story about how a middle-sized project forwarder can solve many things for their clients.
We provide you with shipping news, trade intel and naturally, wise words.
Until next week, we remain,
Bo H. Drewsen
R-Logistics – Monaco
Mr. Joaquin Gomez Yanci
Group Deputy CEO
First of all, Joaquin please tell us about the history of R-Logistic and the current ownership of the company? Where is your head office located with regard to business in Africa, and how do you coordinate it all?
R-Logistic is a subsidiary of R-Logitech – the infrastructure & logistics division of Monaco Resources Group, an international specialist in natural resources with a strong presence on the African continent. R-Logistic saw its beginnings at the end of 2017 with the acquisition of some agencies resulting from the fall of Necotrans Group. This was a strategic action which consisted of stepping into a strategic group of countries from which we launched our solid expansion, already being present in 12 countries (Benin, Burkina Faso, Cameroon, Central African Republic, Guinea, Ivory Coast, Mali, Mauritania, Niger, Republic of Congo, Senegal and Togo.
R-Logitech also adds a presence in the domain of port activities via NECTAR, which is present in many African countries. This is a combination that is very attractive for an offer of complementary services with high added value. Likewise, our sister company EUROPORTS, specialized in port management in Europe and China with more than 40 terminals under concession, has complemented our multimodal services force since 2019.
Meriaura Group – Turku, Finland
Mathias Mattsson, Chartering Coordinator, Projects at Meriaura Ltd interviewed by Bo H. Drewsen, Editor in Chief at Project Cargo Weekly. https://meriaura.fi/
C.E.R.L. – Lyon, France
Nouveau Maria, Network & Project Manager at C.E.R.L. interviewed by Bo H. Drewsen, Editor in Chief at Project Cargo Weekly. https://www.cerl.fr/
Container Shipping Earnings Now Rival Apple
As incredible as it may seem, the shipowner earnings are now approaching that of a certain Apple of which we have all been jealous over the years. Shipping has really made one gigantic comeback, and we don’t need to explain what shipping is any longer to anyone….
The container lines for years made meager returns after splurging on big ships which led to overcapacity. Germany’s Hapag-Lloyd AG has earned more in the last six months than in the previous ten years combined. With the vessel order book growing once again, this boom will also surely be fleeting, which is why shareholders ascribe fairly low price-earnings valuation multiples to these types of companies.
On the Water: UECC’s Second LNG Battery Hybrid PCTC
And continuing on a green streak, we here share the news from UECC about their 2nd LNG battery-operated, hybrid PCTC. Interesting development – and part of a trend that is now irreversible.
UECC’s ambitious effort to upgrade its fleet with low-carbon vessels remains on track with the launch this week of the second in a series of three LNG battery hybrid newbuilds at a Chinese yard.
The latest newbuild pure car and truck carrier (PCTC) was launched at Jiangnan Shipyard just over a year after the first steel was cut as the yard and shipowner have overcome manpower and logistical challenges due to the Covid-19 pandemic to maintain the delivery schedule.
OOCL Posts Record First-half Result
OOCL (which before the takeover by COSCO was owned by the Tung family and which decades ago was bailed out by mainland China during their time of hardship) really proved to be a great investment for COSCO…
Orient Overseas (International) (OOIL), parent company of OOCL, has posted a net profit of $2.8bn for the half-year – far and away the best interim result in the group’s 52-year history. The Cosco-subsidiary’s turnover more than doubled, compared with the same period of 2020
Arctic Today – A Comprehensive News Source Reporting on the Arctic, from the Arctic
An interesting news source about the Arctic region. Perhaps also interesting from a shipping perspective ultimately.
An independent digital news site, ArcticToday partners with media organizations from around the circumpolar north, offering readers on-the-ground reporting, international news, features and community perspectives from one of the world’s fastest-changing regions.
Construction of Refinery in Uturogu, to be Completed in 2023
Mr. Eberechukwu Oji, the Managing Director/Chief Executive Officer (MD/CEO) of ND Western Limited, has said that the company’s refinery project in Uturogu, Delta State, will be completed in 2023.
MoU Signed for Construction of New 50 MW Solar Plant in Libreville, Gabon
The Gabonese Ministry of Energy and Water Resources led by the Minister in charge of Energy, Alain-Claude Bilie By Nze recently signed a Memorandum of Understanding (MoU) with the managers of Total Eren, for the construction of a 50 MW solar power plant in Greater Libreville.
The signing of the MoU aims to establish the basis for the execution of this project, which will be connected to the national grid in order to supply the surroundings of the capital. The project complements the deployment of eight hybrid solar power plants with a total capacity of 2.2 MW.
Kenya’s 100-MW Kipeto Wind Park is Fully Commissioned
The 60-turbine complex is feeding its output to the national power grid. The generated electricity, enough to cover the demand of around 250,000 homes per year, will be sold under a 20-year power purchase agreement (PPA) with Kenya Power and Lighting (KPLC), signed back in 2016.
SeAH Steel Holdings to Invest in Building Offshore Wind Monopile Factory in UK
Monopiles are hollow, steel cylinders used as foundation for offshore wind turbines. The monopile factory will be built at the Able Marine Energy Park, an offshore wind industrial cluster in North Lincolnshire on the east coast of U.K.
Departing early morning from Fremantle, WA to Sydney, NSW mv CMA CGM Georgia
Leaving Port of Fremantle at 6am in June 2 years ago was a fantastic experience – next stop was Sydney. Sailing south of Australia where there is almost nothing to the starboard except Antarctica means you are often subject to a lot of rolling and pitching!
Took this great picture a couple of years ago when I paid a visit to Rhenus Project Logistics terminal in Rotterdam. What a view to the terminal where some giants are alongside.