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Is Sri Lanka on its way to become the jewel in the crown of world shipping?
On the face of it, the location of Sri Lanka's major ports of Colombo and Hambantota, 240 kilometres away from the capital, seem ideal - right on the path of busiest and highest dollar volume trade lane in the world, the Asia-Europe route.
What's more, Sri Lanka is also on one of the routes of China's new "Belt and Road", also known as the New Silk Road initiative, which is already making strides with roads and bridges in Indo-China and block trains from Chongqing and Yiwu to London.
China has taken much interest in developing Sri Lanka's role in world trade, realising that it stands to be THE marshalling superhub for containers, from the rapidly growing Indian economy, whose GDP canters along at 8-10 per cent a year, sending boxes to and from Europe as well as being at the very centre of the highest box volume intra-Asia trade.
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Asian location expected to be an asset in the coming bunker regulatory regime
INTRA-ASIAN trades are likely to get a break in the rapidly changing regulatory environment because of fuel supply, Asia's location is more of an asset than a liability.
Considering the current global refining complex, markets east of the Suez are likely to be self-sufficient and meet regional demand, while western markets with less complex refining systems in Europe, Latin America and Russia will likely switch to become net importers of the new bunker fuel.
So says a study from New York's McQuilling International Shipbrokers and Maritime Consultants. The Middle East is projected to produce 2.81 million barrels per day of low sulphur gasoil by 2020-21, which is 34 per cent more than regional demand. "Therefore, we foresee this region as being a large export centre for gasoil, boosting tanker demand," McQuilling said.
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Ridding intra-Asian trade lanes of pirates is now No 1 maritime security jobAS the large, but still fragile, intra-Asia trade continues to grow, it is becoming clear that more - much more - must be done to deal with the major threat to its future posed by rising levels of piracy.
While never a thing of the past, piracy in the South China Sea, the Sulu Sea, the Celebes Sea, and the Straits of Malacca, has now become the No 1 world hotspot now that the problem off the Horn of Africa has receded. Half of the world's pirate attacks now take place in the waters off Indonesia, Singapore and Malaysia.
In south east Asia there have been 125 pirate attacks reported in the region in a year, triple the number from 2009. Over the same period, attacks off the Horn of Africa shrank from 197 to 13.
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Intra-Asia: Caveats galore, but world's biggest trade definitely has a bright future
AS the western world falls into the clutches of protectionist politicians such as Donald Trump and Hillary Clinton in the US, Jeremy Corbyn and Nigel Farage in the UK, one can ask if Asia has come of age to take the leadership role in globalisation?
Such is the core question posed by researcher Chietigj Bajpaeem, a doctoral candidate in the Department of War Studies at King's College London, writing in Tokyo's Diplomat magazine.
What we find today, he said, are the leading Western powers placing a growing emphasis on protecting national self-interest over projecting global norms, values and institutions as they were proud to do before.
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Southeast Asia liner trades escape Hanjin debacle with as few injuries as possible
THE Southeast Asia-Australia Service (AUS but also known as ASAL) group has acted swiftly to minimise disruption from the collapse of Hanjin Shipping, with the shipping line finally declared bankrupt by South Korean courts.
This came with the unexpected announcement North East Asia and Australia (NEAX) founder MOL was to exit that consortium in the north and east Asia trade and instead join Maersk’s Boomerang service from May this year, a move which also meant the Japanese carrier would also depart from the Triple A group, reported Lloyds List Australia.
Meanwhile, there have been changes in some of the Southeast Asia-via-east coast Australia-New Zealand services and group compositions, as shipping lines look for suitable partners, partly in response to shipping alliance re-arrangements in global east-west trades.
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Intra Asia Trade Specialists |
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