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Port of Montreal-FTQ establish logistics financing partnership

Le Port de Montréal et le Fonds FTQ s'associent pour financer la chaîne logisticienne du port.

 

2018-07-20

 

The Montreal Port Authority (MPA) and the  Fonds de solidarité FTQ (the Fonds) announced that they have signed an agreement to create the Partenariat de financement logistique Fonds de solidarité FTQ - Port de Montréal (the Fonds de solidarité FTQ - Port of Montreal logistics financing partnership), making $100 million available to companies with a development project in Greater Montreal connected with the Port's logistics chain. The amount will be made available to companies through the Fonds in the form of share capital or an unsecured loan.

Companies that want to submit a project to benefit from this financing are invited to contact the Fonds de solidarité FTQ or the MPA. The Fonds will then assess the application files on the basis of its investment criteria. The Fonds shall be solely responsible for agreements with developers. A committee composed of members appointed by the MPA and the Fonds will be established to promote this initiative, chaired by Sylvie Vachon, President and CEO of the MPA.

"The Port of Montreal is proud to partner with the Fonds de solidarité FTQ, a Quebec economic institution whose socially responsible investment values completely match our vision of economic development, to support businesses based here and elsewhere that want to expand or locate to our area. Together, we are taking action to foster business development and economic growth while benefiting the Port of Montreal's logistics chain," said Sylvie Vachon.

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Great Lakes-St. Lawrence shipping adds $60 billion to NAmerican economy

La navigation sur les Grands Lacs et le Saint-Laurent génèrent 60 milliards $ d'activité économique.

 

Cargo shipments to ports on the Great Lakes-St. Lawrence River waterway generate CDN$60 billion worth of economic activity and 328,500 jobs in Canada and the U.S., according to a new study released on July 18. That breaks down to 181,000 jobs and CDN$26 billion in economic activity in Ontario and Quebec.

The consultant study carried out by Martin Associates of Lancaster, PA was released by the Ottawa-based Chamber of Marine Commerce (CMC). The Economic Impacts of Maritime Shipping in the Great Lakes-St. Lawrence Region study reveals the economic benefits of the shipping activity along the entire bi-national Great Lakes-St. Lawrence River waterway - the longest deep draft inland navigation system in the world. In 2017, more than 230 million metric tons of raw materials and finished goods were transported by ships to and from ports via the waterway, which includes the Great Lakes, the St. Lawrence Seaway and the lower St. Lawrence river.

Commented Marc Garneau, Minister of Transport: "The Great Lakes, St. Lawrence Seaway, and St. Lawrence River play a pivotal role in Canada's supply chain, and contribute to our regional and national economies. The Trade and Transportation Corridors Initiative supports such major trade corridors, and allows Canadians to compete in key global markets and trade more efficiently with international partners."

Bruce Burrows, President of the Chamber of Marine Commerce, stated: "Great Lakes-St. Lawrence shipping is a key driver of the Canadian economy, supporting more than 181,000 jobs and carrying raw materials and finished products on behalf of businesses across the country. This study demonstrates the value of investing in port and lock infrastructure along this key binational trade and transportation corridor that connects cities within North America and is a gateway to international markets."

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Fednav takes 'milestone' delivery of 60th owned vessel

Fednav prend possession de son soixantième navire.

2018-07-13

Fednav Limited has taken ownership of a 60th bulk carrier, an important milestone in Fednav's history. This vessel, the MV Federal Dee, is the latest in a series of 22 box-hold handysize bulk carriers of 34,500 deadweight tons ordered from Oshima Shipyard of Japan since 2013.

As the world's largest operator of ice-class dry-bulk carriers and Canada's leading ocean-going, dry-bulk shipowning and chartering group, Fednav operates a modern and high-performing bulker fleet of over 100 ships, the majority of which are owned.

The company continues to invest extensively in its fleet rejuvenation and extension program to offer customers the highest quality ocean transportation solutions, while reducing the fleet's environmental footprint.

Earlier this year, Fednav also contracted for the replacement of its MV Arctic by ordering a new 30,000 DWT Polar Class 4 mine support vessel from JMU Shipyard of Japan. The ship will be flagged under Canadian registry and begin service as of 2020. Known for its expertise in navigating in ice, Fednav has for over 60 years played a leading role in promoting Arctic development and export. The company operates the three most powerful ice-breaking bulk carriers in the world offering year-round services transporting nickel and copper concentrates southbound and returning with all mine resupply material including Arctic diesel oil.

Investing recently more than US $600 million into its newbuilding program, the company clearly demonstrates continued confidence in the shipping markets and its commitment to the Arctic, St. Lawrence, and Great Lakes trades, stated a press release.

Fednav is a privately owned shipping company The company employs 260 office staff worldwide-160 in its Montreal headquarters-and maintains commercial offices overseas in Antwerp, Charlotte, Hamburg, Rio de Janeiro, Singapore, St. John's, and Tokyo. (photo Fednav)

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Davie delivers first LNG ferry built in NAmerica

Davie livre le premier traversier alimenté au GNL en Amérique du Nord

2018-07-17

 

Davie Shipbuilding has delivered to the Société des traversiers du Québec  (STQ) the first LNG-powered ferry to be built in North America. The pioneering ferry can be powered entirely by liquefied natural gas, which emits 90 per cent less nitrogen oxide emissions and 100 per cent less sulphur and fine particle emissions compared to diesel.
Delivering the prototype has taken years of work by Davie, the designers and the classification society, who have had to develop construction and operations rules and regulations during the construction in order to cater for this new type of propulsion system.
"It would have been easy to build a normal, diesel-powered ferry but instead Québec decided to pave the way in setting a new environmental standard for the entire continent," James Davies, president of Davie, Canada's largest shipyard, said in a statement.
"While a handful of these new LNG-powered ferries have been built in Europe, they have often been fraught with problems after they entered service. We are very proud to have delivered the highest quality product which has now passed all testing with flying colours and we have done it at an internationally competitive price," he added.
On the inside, the new vessel is "of a similar level of complexity to a space shuttle," said Ron Pearson, Davie's VP of engineering. "It is a densely packed, highly integrated and complex product. This ferry has more systems and automation onboard than an offshore drilling platform or a modern warship."

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Germany's Hamburg Süd launches new Med service with Montreal

Hamburg Süd d'Allemagne crée un nouveau service entre Montréal et la Méditerranée

2018-07-12

A new service connecting the Port of Montreal to the Mediterranean market was recently announced by the Hamburg Süd Group. Launched to meet the growing demand of importers and exporters on both sides of the Atlantic, this new service will connect the Port of Montreal to the ports of Algeciras and Valencia in Spain, Fos-sur-Mer in France, and La Spezia and Salerno in Italy. The first ships departed July 2 headed west and ship departures headed east will start July 19.

"The vessels on the service will have average nominal container capacities of 1,800 TEU," Scott Pichette, VP of Montship, agents for the German shipping line, told Maritime Magazine.

"With this new partnership, the Port of Montreal can now count on a sixth international line in its trading with the world," said the Montreal Port Authority. "This is excellent news in a context of constantly growing freight traffic, which reflects Montreal's economic attractiveness on the world stage."

Hamburg Süd is one of the world's ten leading container liner shipping brands. Through its affiliation with Maersk Line-the world's market leader in international container liner shipping-Hamburg Süd's customers have access to the most extensive liner network and the largest shipping fleet in the world. (Photo Hamburg Sud).

 

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