• 2019 May 16 14:17

    The AEC welcomes new chair, signs MoU with Arctic Council

    The delegates of the Arctic Economic Council (AEC) convened in Rovaniemi, Finland for their fifth Annual Meeting since the establishment of the organization in 2014.

    Heidar Guđjonsson of Iceland was welcomed as the new chair of the organization after a unanimous decision from AEC delegates. Guđjonsson takes over after Tero Vauraste (CEO, Mariadi Oy), as chairmanship of the organization shifts from the Finnish business community to the Icelandic businesses.

    “Having worked with Arctic questions for years, I am excited and honored to take over the chairmanship of the AEC”, said AEC chair Guđjonsson. “The Finnish business community with Tero Vauraste as their appointed representative has done a tremendous work these past years to broaden the scope of the AEC’s work. I am thankful for their commitment and their drive.” As Icelandic business community takes over the Chairmanship, the AEC will continue on the path laid by the new strategic plan (2019-2021) created under the Finnish businesses’ chairmanship.

    In addition to the transition of chairmanship, the AEC also elected a new Executive Committee, which will be led by Guđjonsson. Vauraste, Thomas Mack representing the Aleut International Association, and Evgeniy Ambrosov representing Russian businesses, will all continue in the roles of vice chairs. In addition, the AEC membership welcomed Geir Seljeseth from Norway as a new vice chair.

    “The changes in demography and international living standards call for more resource utilization and increased need for infrastructure. The significant changes taking place will also speed up the Arctic development. The Icelandic business community sees connectivity, data transfer and blue economy as important themes during its chairmanship. Blue economy contains an untapped potential which can significantly contribute to diversifying the economy and creation of new jobs in Arctic communities as well as helping feed the world with high quality protein”, says Guđjonsson.

    The AEC has endorsed the intent of the Arctic Investment Protocol (AIP), originally a product of the World Economic Forum Global Agenda Council on the Arctic. The work on these responsible investment principles will be a key issue during the Icelandic businesses’ chairmanship. “I firmly believe that universally applicable investment principles promoted by the people of the Arctic and their businesses can help promote both local inclusion, local content and also help facilitate investments in our region”, Guđjonsson says.

    During the Arctic Council Ministerial Meeting in Rovaniemi earlier this week, the AEC signed a Memorandum of Understanding (MoU) with the Arctic Council. The aim of the Memorandum of Understanding is to provide a framework for cooperation and to facilitate collaboration between the Arctic Council and the Arctic Economic Council. This strengthens the AEC’s position as the Arctic Council’s preferred partner in issues related to responsible economic development. “This marks a significant development in our mutual relationship and I am thankful to the Finnish Arctic Council Chairmanship for the excellent collaboration during our chairmanships”, says Tero Vauraste.

    “Being chair of the AEC has been an honor and privilege,” says outgoing AEC chair Vauraste. “The Finnish business community set out to strengthen the operations of the AEC and work on themes related to safe, competent and interconnected Arctic. During our chairmanship, we have also actively worked towards the global business community as linking the Arctic markets with the global ones is central for the development of our trade. We have also reacted to the recent development within international trade by actively promoting the need for freedom of trade,” says Vauraste. “I am excited to see the Icelandic business community taking the AEC’s work forward.”

    During the AEC’s Annual Meeting, the organization’s Working Groups on Maritime Transportation and Responsible Resource Development issued their reports. The AEC Maritime Transportation Working Group has worked under the leadership of Chairman Mikko Niini (Navidom). Their report “The State of the Maritime Transportation in the Arctic” provides an overview of the current status of maritime transportation in the Arctic and discusses challenges related to further development of the sector.

    The Responsible Resource Development Working Group’s report titled “Mineral Development in the Arctic” provides insights and an exchange of ideas around mineral development projects in the Arctic. The report is a consolidation of insights from a wide spectrum of Arctic stakeholders with a specific focus on mining in the North American Arctic. It includes feedback from companies that have developed Arctic mining projects and what made them successful, as well as from other stakeholders representing Indigenous groups, potential Arctic investors and government entities. The Working Group is co-chaired by Ms. Lillian Hvatum-Brewster (ATCO Group, Canada) and Mr. Bruce Harland (Crowley Maritime, USA) The report was formally launched at the Arctic Business Forum event on May 8.




2019 June 17

18:24 USCG saves six people, tows disabled vessel in Port Etches
17:59 Denis Krylov appointed General Director of Gazpromneft-Sakhalin
17:28 China and South Korea agree on ballast water exchange rules
17:04 Mermaid Maritime borrows a loan of USD 65 mln to extend the financing of two vessels
16:41 Neptune Lines welcomes Neptune Galene & Neptune Thalassa after scrubber installation
16:23 DG Termināls invests about 1 million euros during the year
16:17 Finnish ferry getting a diesel-electrical drivetrain system
16:04 MSC Katya R. sets record as largest container ship to boost Costa Rican export links to Europe
15:45 Singapore to host 18th Vessel Efficiency & Fuel Management Summit
15:26 Onezhsky Shipyard launches multifunctional buoy tender for Volga-Baltic Basin
15:04 Hunter Group sells one vessel
14:42 Gdansk, Poland to host 6th Operating Specialist Wind Vessels Summit
14:19 Seatrade Europe conference programme to include Marine Interiors specialist panel discussions
14:12 ClassNK releases amendments to class rules
13:55 Finland hosts an EU–China maritime meeting
13:31 AWT completed stage III of modernization and expansion of the Paskov Terminal
13:24 Average wholesale prices for М-100 HFO down to RUB 16,007 in RF spot market
13:10 The Irish Port of Cork and Port of Amsterdam to collaborate
12:48 Pella Shipyard launches tugboat of project 90600, Sadko, built for Sevmash-Shelf (video)
12:31 Port of Oakland exports up 8.4 percent in May 2019
12:01 North Carolina Ports adopts Vortex port equipment simulator
11:30 MEYER WERFT announces the keel laying for the new cruise ship IONA
11:15 Throughput of port Shanghai (China) in Jan-May’19 declined by 1.3% to 225.91 million tonnes
11:00 Panama Canal issues proposal to modify tolls structure
10:59 Bunker sales at the port of Singapore in Jan-May’2019 fell by 7.7% Y-o-Y to 19.79 million tonnes
10:37 Fincantieri's Muggiano shipyard launches PPA “Paolo Thaon di Revel”
10:21 CMA CGM announces FAK rates from Asia to the Mediterranean
10:01 Brent Crude futures price is up 0.26% to $62.17, Light Sweet Crude – up 0.19% to $52.87
09:38 Port of Singapore throughput in Jan-May’2019 was nearly flat YoY at 261.39 million tonnes
09:19 Diana Shipping commences self tender offer to purchase up to 2,000,000 shares
09:16 MABUX: Bunker market this morning, June 17
09:10 Baltic Dry Index is up to 1,085 points

2019 June 16

17:13 DC area agencies to conduct mass rescue exercise off National Harbor
16:05 Boskalis appointed as salvor for both damaged tankers in the Gulf of Oman
15:53 Fincantieri and Naval Group sign a joint venture agreement
13:47 Diana Shipping Inc. announces the sale of a Panamax dry bulk vessel, the MV Thetis
12:47 WSC unveils its hybrid patrol vessel at Seawork 2019
11:41 GasLog Partners LP announces new multi-year charter agreement with Gunvor

2019 June 15

15:44 Wight Shipyard rolls out its new windfarm support vessel concept at Seawork Int'l 2019
13:17 Malta Freeport hosts its first LNG-powered container ship
12:53 Petrobras closes the sale of TAG
11:41 USCG, local partners respond to sailing vessel aground off Magic Island
08:43 Vessel training simulation underway at Tema Port’s new Terminal 3

2019 June 14

18:05 Ole Martin Grimsrud appointed CFO of Aker Solutions
17:44 USCG Cordova FOL crew saves man stranded for three days on Montague Island
17:05 Knud E. Hansen wins two separate contracts for innovative large RoRo vessels
16:41 Hapag-Lloyd to increase rates from North East Asia to Australia
16:26 Murmansk Sea Fishing Port handled 90,300 tonnes of cargo in Jan-May’2019, down 38.7% Y-o-Y
16:05 CMA CGM announces GRR from Asia to South Africa
15:14 “K” Line receives recognition for vessel speed reduction programs in the West Coast of North America
15:00 UK maritime industry leaders debate decarbonization, digital technologies and the future of safety at the annual ABS UK National Committee meeting
14:00 China Railway Container Transport signs strategic cooperation agreement with SITC International Holdings
13:38 Container throughput of Vladivostok Sea Fishing Port in 5M’2019 up 39% YoY to 89,649 TEUs
13:09 Algoma increases its interest in in the CSL International Pool
12:41 Port of Klaipeda (Lithuania) handled 19.77 million tonnes of cargo in 5M’2019, up 8.5% Y-o-Y
12:09 Global Ship Lease announces new charter agreements
11:32 Bunker prices continue going down at the port of Saint-Petersburg, Russia (graph)
11:09 ECSA issues statement on suspected attack on two oil tankers in the Gulf of Oman
10:51 France signs up to fishing vessel training treaty
10:30 Zhatai Shipyard to let build up to 10 river ships and scrap at least two ships per year