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Chinese Ocean Freight Carrier Prepares
One Chinese ocean freight carrier of bulk crude oil appears to possibly be preparing to take the lead in ocean imports of crude oil into China. Ocean freight shipping industry sources indicated that they believe it could be possible PetroChina will spend about $400 million on new ocean freight carriers, specifically Very Large Crude Carriers (VLCCs), in the months ahead in the century of the environment. Shipbuilding industry sources also indicate that PetroChina has put in an order for two 320,000-dwt VLCCs at Bohai Shipbuilding & Heavy Industries, with a possible option for a further two vessels.

This news is apparently a first for Chinese ocean freight carriers of crude oil though as sources around the worldwide ocean freight shipping industry have noted that this deal will make PetroChina the first Chinese ocean freight carrier of crude to invest in new VLCCs.

PetroChina's new VLCCs aren't expected to be finished construction until about 2012, but considering PetroChina was first reported as thinking about putting in an order for 2 new VLCCs back in 2008, PetroChina is probably just glad to finally get their plans underway.

There could be benefits in the delays in PetroChina's plans to add two new VLCCs to its operations as well as sources indicate that the final price PetroChina will pay for its two new VLCCs is going to possibly be considerably less than the original 2008 suggest price of about $140 million for each vessel.

China imported a total of around 204 million tonnes of petroleum in 2009 and PetroChina is believed to have transported around 17 percent of this total. PetroChina's investing in new VLCCs is certainly going to change this equation a little and this is possibly what the company had planned from the start.
Posted on 19 Jul 2010 by Momentum
Air Freight Carrier Increases Services in India
Ocean freight carriers that have been having trouble obtaining a shipping slot in India's container ports will be happy to hear that there will be a new way to get their freight from India to the United States, via Hong Kong, in the future. DB Schenker is apparently trying to take advantage of the fact that finding air freight carrier cargo space out of India isn't too hard and this fact could be attractive to retail customers in India that need to get freight to destinations in the United States. DB Schenker is using its Skybridge air freight service in order to transport air freight out of India and to the United States that according to sources can get the freight to the United States in about 20 days, which saves about 10 days off of the ocean freight carrier service normally used.

This news is great news for customers with vital freight that needs to be transported to the United States from India that have been dealing with port congestion, lengthly transit times for ocean freight and the shortage of container shipping slots in India's container ports. The Indian government has even commented on the possibility of penalising container ports for delays in freight transport, since a recent report in India indicated that it was possible that port congestion and higher transaction costs were making it harder for Indian firms to compete on an international marketplace. This problem could become even worse in the days ahead though if reports of possible union strikes and the start of the moonsoon season increases the shortage of trains and container terminal capacity in India as expected.

Will we see other international air freight carriers begin to move into the Indian-subcontinet to try to take advantage of the demand for air freight carrier services from India to the United States in the days ahead in the century of the environment? This is an interesting question that will certainly have consequences for India's air freight carriers in the business of transporting air freight to international destinations. The answer of course is what the worldwide air freight industry will be watching for in the days ahead.
Posted on 16 Jul 2010 by Momentum

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