Published by The Maritime Executive

Published by The Maritime Executive

Published by The Maritime Executive

Published by The Maritime Executive

Published Sep 27, 2021 2:32 PM by The Maritime Executive

The Philippines has become the latest to confront the constraints in shipping that occurred in 2021 by launching its own shipping service to the United States. A Philippine-registered vessel is departing for the first time in 45 years for a nonstop voyage to the United States transporting containers and goods from the island nation.

The 13,750 dwt containership Iris Paoay, operated by the Iris Logistics company of the Philippines, began loading containers last week. Departing Manila, the vessel is making interim stops in Cebu and Davao before beginning the 27-day journey to Long Beach, California. The vessel, which was built in 2006 and acquired by Iris Logistics’ parent company Royal Cargo in 2017, has been operating interisland in the Philippines. It has a capacity of 1,100 TEU with 22 reefer slots.

The project to commence direct cargo service to the United States is said to be in response to high international shipping costs the Philippines had been incurring, as well as the lack of space on vessels bound for the U.S. in 2021. Reports from the Philippines said that like many other exporters, the country has been struggling to ship its goods with manufacturers hard hit by the lack of containership capacity and growers seeing their crops rot before they could get them to market. Additionally, importers reported delays in receiving materials, especially in the electronics manufacturing industry. The country has also been concerned about food insecurity due to constraints on its imports.

The U.S. Agency for International Development (USAID) worked with the Philippines’ Export Development Council (EDC) and the University of the Philippines Public Administration Foundation to find solutions to the shipping challenges the Philippines have been experiencing. The idea to place a domestic cargo ship into international trade also required the support of the Department of Trade and Industry due to maritime regulations that limit ships’ authorization to move between trades.

The shipping company said that it was already organizing a second departure for a reefer vessel in early October. In addition, the Chairman of the EDC Networking Committee on Transportation and Logistics said that they believed this initiative has inspired other local shipping lines to also consider providing regional intra-Asia and trans-Pacific shipping services.  

Published Jul 22, 2022 7:44 PM by The Maritime Executive

Daewoo Shipbuilding & Marine Engineering Co. and the union representing subcontractors reached an agreement at the end of the day on Friday ending a 51-day strike that threatened the financial stability of South Korea’s third largest shipbuilder. Faced with mounting losses and increasing costs for steel and other materials, DSMEs’ financial condition has continued to erode with the largest shareholder suggesting that the company might need to be restructured through bankruptcy. Discussing the shipbuilder’s prospects as the strike dragged on,...

Published Jul 22, 2022 7:41 PM by The Maritime Executive

Investments for the facilities at Damen Shiprepair Curacao, the largest shipyard in the Caribbean, are expected to proceed shortly. The shipyard located on Curacao near the coast of South America is owned by the government and since 2017 has been leased to Damen. The shipyard recently undertook the first project, which was an investment of approximately $1.1 million for the overhaul of the door on one of the yard’s four dry docks. In anticipation of the approval for a broader...

Published Jul 22, 2022 6:56 PM by The Maritime Executive

As sanctions and international isolation begin to take hold for Russia's oil industry, it has begun discounting prices in order to entice new buyers in far-flung markets. But in doing so, according to market intelligence firm Vortexa, Russia has begun to compete directly with Iran and Venezuela for a limited market in undercover oil.  One of the key signs is the movement of fly-by-night tankers from the sanctioned Iranian oil trade into the previously above-board Russian oil export market. According...

Published Jul 22, 2022 6:42 PM by The Maritime Executive

The first large cruise ship bunkered with a blended marine biofuel making the latest expansion of biofuel which has drawn wide support in the commercial shipping industry. The bunkering took place with Carnival Corporation’s AIDA Cruises aboard the AIDAprima and provides a blueprint for the wider cruise sector adoption of alternative fuels. AIDA has long been the pioneer within Carnival Corporation testing made of the new concepts for alternative power and improving environmental performance. The 125,500 gross ton AIDAprima became the...

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