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21 November 2024 - Year XXVIII
Independent journal on economy and transport policy
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BRIEFS
March 11, 2009
The Business Timesweb site
Shipping News
  • Playing musical chairs
    HOW recession resistant is shipping? On the face of it, the answer may seem pretty clear. Not at all.
  • All shipping firms will lose money in '09: Maersk CEO
    All container shipping companies are likely to lose money this year and some will go out of business if freight rates do not recover, Maersk Line's chief executive told Reuters on Monday.
Strait Talk
  • IMO alliance for a cause
    OVER the years the International Maritime Organisation (IMO) has taken an increasingly active stance on issues affecting world shipping. It is becoming far less simply a body that reacts to issues that come to its attention through its member states.

The Business Timesweb site
Shipping News
  • Playing musical chairs
    HOW recession resistant is shipping? On the face of it, the answer may seem pretty clear. Not at all.
  • All shipping firms will lose money in '09: Maersk CEO
    All container shipping companies are likely to lose money this year and some will go out of business if freight rates do not recover, Maersk Line's chief executive told Reuters on Monday.
Strait Talk
  • IMO alliance for a cause
    OVER the years the International Maritime Organisation (IMO) has taken an increasingly active stance on issues affecting world shipping. It is becoming far less simply a body that reacts to issues that come to its attention through its member states.

Sched Netweb site
  • Gloomy forecasts plague box shipping industry as Jan volumes dive 20pc
  • Senior liner managers foresee Intra-Asia March/April volumes to surge 20 per cent
  • Ningbo-Taiwan direct shipping box volume close to 10,000 TEU
  • Zhangjiagang port volume up 32pc in 2008
  • Jiangsu government meet to plan for box volume increase
  • Maersk's 1,000th ship call on west coast eco-fuel switch
  • India starts barging cargo from Nhava Sheva to Dharamtar Port
  • CN's Chicago town mitigation continues post EJ&E acquisition
  • Hactl tonnage falls 22pc at Hong Kong airport in February
  • Pilots face unpaid leave as SIA grounds 15pc of fleet
  • Shenzhen Airport mail cargo volume falls 35pc in January

International Transport Journalweb site
MARCH 10, 2009
  • AFC and Nord-Flyg offering service from Germany and Benelux to Spain
    The Munich (Germany)-based specialist for air freight consolidation Air Freight Consolidator (AFC) and the Swedish airline Nord-Flyg Madrid offers connections from the main cargo c...
  • Konrad Sch'tte to strengthen Air Partner's sales team
    Konrad Sch'tte has moved to the sales division of Air Partner, one of the world's biggest charter aircraft providers. He has been gathering experience of the charter business in th...
  • Hapag-Lloyd board candidates
    The Hapag-Lloyd supervisory board plans to appoint Peter Ganz to the executive board as chief financial officer at its next meeting. After studying business administration, Ganz be...
  • Maersk: general rate increase in the Europe-Middle East and South Asia trade
    The Danish shipping giant Maersk recently announced that it will raise its rates on 1 April, as the current tariff is unsustainable and demand is improving. The increases on eastbo...
  • Port of Turku handles record number of new cars
    The port of Turku (Finland) imported a record number of new cars in 2008. The port saw 93,577 cars pass over the quayside, a 28% increase over the preceding year. In contrast, good...
  • DB Schenker expands Middle East network
    The German service provider DB Schenker continues to expand its network in the Middle East by founding a separate company named Schenker Saudi Arabia LLC on 1 March. The new entity...
  • Albion Chemicals Group renamed
    The Brenntag-owned Albion Chemicals Group has now been renamed Brenntag UK & Ireland. "Rebranding to Brenntag UK & Ireland positions the business as a global leader in chemical dis...
  • Kuehne + Nagel strengthens capabilities in the oil and gas logistics market
    The Schindellegi (Switzerland)-based logistics and supply chain management service provider Kuehne + Nagel recently announced that it has entered into an agreement to take over J. ...
  • Harwich International Port gets 'wings'
    Harwich International Port, one of the UK's leading multi-purpose freight and passenger ports, recently welcomed the arrival of some unusual cargo to its no. 5 berth. The shipment ...
  • Germany: first decrease in inland shipping in 2008
    According to provisional data of Germany's Federal Statistical Office (Destatis), inland waterways traffic in Germany in 2008 did not reach its record level of 2007: Compared with ...
  • Frozen Food Express substantially improves Q4 figures
    The refrigerated trucking company Frozen Food Express Industries (FFE) lost USD 201,000 in Q4/2008, compared with a loss of USD 3.5 million in the same period in 2007. The improvem...

Maritime Global Netweb site
MARCH 10, 2009
  • 16 missing after collision
  • ICTSI expects "more difficult year"
  • Chief engineer pleads guilty to record book charges
  • ESPO "need for clear rules on financing"

Marine Logweb site
MARCH 10, 2009
  • Reefer operator to pay $1,4 million in pollution case
  • Navy contract for Atlantic Marine Mayport
  • Coast Guard release Cosco Busan investigation findings
  • OSV contracts canceled as Norway's KMV files for bankruptcy
  • DNV project promises safer navigation in ice
  • Trico won't allow Sveaas nominees on Board

Lloyd's Listweb site
MARCH 10, 2009
  • Maersk Line in talks to delay newbuildings
    WORLD'S largest boxship operator in negotiations to delay the delivery of newbuildings on order.
  • Maersk Line to lay-up 25 boxships
  • Marseilles to hold crisis talks over UNM liquidation
    PORT'S supervisory board to hold an emergency meeting as shiprepairer is put into liquidation.

Fairplayweb site
MARCH 10, 2009
  • Global oil outlook trimmed
    THE new Energy Information Administration outlook predicts that world oil consumption will fall by 1.4M bpd this year, to 84.3M bpd
  • Martinoli takes NCL helm
    CRUISE industry veteran Roberto Martinoli was appointed president and chief operating officer of Norwegian Cruise Line today
  • Argentine yard victorious
    A New York judge has thrown out an attachment order used by Wilhelm Finance to garnish $2.3M in funds from Argentinean yard Astillero Rio Santiago
  • US policy changed as fine erased
    POLITICAL pressure from Congress has forced US Customs to change penalty guidelines under the Passenger Vessel Services Act and refund at least $800,000 in fines, Fairplay has learned
  • German exports falling fast
    GERMANY'S export activity dropped by 4.4% to $85Bn in January, after a 4% reduction in December, as the recession's impact deepened
  • PDVSA closes big gas deal
    VENEZUELA'S government-owned oil giant PDVSA has formed a multibillion-dollar offshore gas venture with Portuguese, Argentine, US and Japanese groups

The Journal of Commerceweb site
MARCH 10, 2009
  • SoCal Ports Face Dray Truck Scramble
  • Nova Scotia Kills Gateway Project
  • Halifax, Seaway Talk Short Sea
  • NRS Chairman Frank Walsh Dies at 62
  • South America's Recovery Project
  • Conference to Explore Short Sea Shipping
  • Car Carriers Target Heavy Lift
  • Senator Files HMT Exemption Bill
  • Diesel Drops 4.2 Cents to $2.045
  • European Short Sea Carrier's Volume, Profit Fall
  • Hanjin Hikes Asia-Europe, Trans-Atlantic Rates
  • Lufthansa Cargo Traffic Slumps
  • Costco Moves to Tokyo DC
  • Outsourced Logistics Growing
  • Long Beach TWIC Deadline Nears
  • IMO Forms Global Ballast Alliance
  • Trade Rep. to Get Tough on Labor, Environment
  • Short Line Volume Drops 21 Percent
  • One Million Signed Up for TWIC
  • DHL Names New Japan Head
  • Alitalia Cargo Sale to Close Within Days
  • Indian Dock Strike Deferred
  • Genesee & Wyoming Traffic Slides
  • Con-way Cuts Wages, Benefits

Containerisation Internationalweb site
MARCH 10, 2009
  • 'Guilty' plea by Cosco Busan pilot
  • Sirius 1 & 2 Med / ECSA becomes one
  • India's Chinese toy ban 'relaxed' in face of WTO threat
  • 'Single tradelane' ship lay-ups soar
  • Philippine exports plummet by 41%

TradeWindsweb site
MARCH 10, 2009
  • US stocks leap
    Shipping shares climb sharply as optimism fuels broader market rally in New York.
  • USCG lays blame
    US Coast Guard issues report on Cosco Busan spill, blaming pilot's navigational error and master's failure to monitor him.
  • Armada under fire
    Biggest creditor of insolvent Singapore chartering group to challenge fairness and transparency of scheme of arrangement.
  • Nordic newie
    Austal yard in Australia bags catamaran order from Denmark's Nordic Ferry Services.
  • Crewman arrested
    Princess Cruises crewmember is arrested in Los Angeles for alleged sexual assault of a passenger.
  • Casualty file
    TradeWinds WebTV presents the first instalment of its weekly casualty roundup, the place to see the latest in maritime mishaps.
  • FMR cuts Hercules
    Fidelity Investments slashes stake in rig and liftboat owner Hercules Offshore by nearly 41%.
  • Mariner fesses up
    Spanish seafarer pleads guilty to charges of falsifying records over discharges from the chemical tanker Nautilus.
  • CSDC's cash grab
    Hong Kong-listed shipowner finds route to $1.17bn as notes issue is backed and parent is tapped for preferential loan.
  • Lightering done
    Damaged SKS Satilla's cargo removed but work required for safe transit to shipyard for repairs.
  • Friday deadline
    US Shipping Partners reveals new waiver from lenders that gives it until the end of the week on defaults.
  • Norden axes pair
    Two handysize newbuildings at Chinese yard cancelled with deposit paid back in full.
  • Bulk blow
    Li Shaode-led CSDC says domestic bulk COA volume down by a third while charter revenue is cut by nearly 40% following renewals today.
  • Karmsund fails
    Norwegian shipyard files for bankruptcy leading to the immediate cancellation of two giant Solstad anchor handlers.
  • Lay-offs ahead
    Delay of Ekofisk platform deal spells trouble for Aker Solutions yard in Norway.
  • Rasmussen to sell
    Major Norden shareholder to sell off half of holding in Danish owner which missed annual profit target.
  • Under the curtain
    STX Europe prepares to unveil new steel-saving concept in cruiseship newbuildings.
  • Norden feels heat
    Shares in Danish owner plunge as profit falls short of expectations and Rasmussen group to sell half of holding.
  • Fish carrier blaze
    Four crew members hospitalised in the Azores as fire fighters contain fire aboard the Spanish-controlled Izar Argia.
  • ICTSI drops
    Philippines port operator endures biggest annual profit fall for 10 years.
  • Torm's sale storm
    Danish owner to face public prosecutor over the sale of a 1997-built panamax bulker.
  • Buzz burns NOL
    Rumour of $250m rights issue sends NOL's stock price spinning.
  • Wartsila wins
    Finnish group to supply engines, propellers for two Sartor Shipping newbuilds designed by Vik-Sandvik subsidiary.
  • Norden profit up
    But Carsten Mortensen-led tanker and bulker giant falls short of target and forecasts vastly weaker 2009.
  • Waiting game
    Philippines owner Solid Shipping halts boxship buys as it awaits price falls in economic downturn.
  • No pullback
    Brightening outlook for the dry-cargo sector makes 10 bulker orderbook secure, Sinotrans says.
  • Dubai downturn
    Slowing of construction projects in Middle East leaves Dutch dredger Van Oord with headache this year.
  • Reef fine
    Bulker master pays PHP 5,000 penalty after vessel grounds on Philippines coral.
  • Sixteen missing
    No sign of South Korean bulker or crew after collision with RCL-owned car-carrier off Japan.
  • SGP's S&P
    Thailand gas company snaps up Japanese LPG carrier to boost logistics operations.
  • Hanjin hikes
    Korean container line looks to raise rates for Asia-Europe and transatlantic routes.
  • Reliance reneges
    Indian oil major pulls out of deal to charter drillship Neptune Explorer. No word yet on compensation.
  • Remains riddle
    Workers discover set of bones while renovating former Smiths Dock shipyard in UK.
  • HMY goes green
    British marine equipment supplier expands range with acquisition of ballast water treatment specialist.
  • Auckland dips
    Declining vehicle imports take toll on interim results at New Zealand port as dividend is suspended.

American Shipperweb site
MARCH 10, 2009
  • Kolding: No lines will see black in 2009
  • Maersk boosts rate on Europe/Asia trades
  • Hanjin boosts rates in Asia/Europe, transatlantic
  • Siemens Energy puts wind blades on U.S. rails
  • Napolitano to visit border nations
  • ICTSI 2008 revenue up, profit down
  • Hong Kong port sees 4th quarter reversal
  • TWIC hits 1 million enrollments

The Scandinavian Shipping Gazetteweb site
MARCH 10, 2009
  • DFDS's figures better than expected
    The DFDS Group did better than expected in 2008, according to CEO Niels Smedegaard. The group was affected by the global decline in all its markets. The overall figures show
  • Hamburg Süd scales down
    Due to deteriorating market conditions, Hamburg Süd has decided to reduce capacity in the trade between the Mediterranean and the East Coast of South America with immediate effect. In a
  • Karmsund loses Singapore contract
    Norwegian Karmsund Maritime is fighting for its survival, but after the Singapore-based Ezra Holding cancelled two anchor handling supply vessel contracts worth NOK 1.240 billion in total, the

The Bunker Bulletinweb site
MARCH 10, 2009
  • Europe: Bunker prices firm
    Hamburg market 'very quiet'.
  • Shipping should act to cut emissions
    Head of DNV wants more research on using natural gas as a bunker fuel.
  • Aegean facing new commission lawsuit
    Previous case in Greek court was unsuccessful, Aegean says claim is 'meritless'.
  • Distillate supply concerns as regulation deadline approaches
    Market is being stretched, concerns over price escalation, says study.
  • Russian navy looks to oil companies for bunker deliveries
    Head of fuel procurement for the Russian armed forces says oil companies should provide bunkers to naval ships.
  • Hedge losses cost shipping company over $80 million
    Norden's hedging losses significantly worse than predicted.
  • DFDS rides out bunker price fluctuations
    Total bunker cost increase in 2008 even as company cuts consumption, but Q4 price drop helped.
  • Asia: Bunker fuel prices see marginal gains
    Traders in Tokyo Bay seeing more enquiries as prices undercut Busan.
  • Cargo ship sinks after collision
    Wide oil slick spotted near accident site off the coast of central Japan.
  • Bunkering resumes as cyclone threat eases
  • Iran supplier wants larger share of Bandar Abbas market
    Currently supplies about 20% of bunkers needed by foreign vessels.
  • Indian refiner urged to bunker foreign ships
    Foreign-owned vessels unable to buy bunkers at Paradip port.

›››File
FROM THE HOME PAGE
New historical record of monthly container traffic in the port of Long Beach
Long Beach / Los Angeles
In October, strong growth in Los Angeles climbing activity.
ZIM records excellent quarterly economic performance driven by noli uptick and activity with Latin America
ZIM records excellent quarterly economic performance driven by noli uptick and activity with Latin America
Haifa
The fleet transported a record number of containers
In the third quarter, the Viking cruise group's revenues grew by 11.4% percent.
Los Angeles
Increase of 14.3% of turnover generated by ocean cruises
Signed the final agreement on the contract of port workers
Rome
Italian Antitrust initiates an investigation into SAS (MSC group), Moby and Large Navi Fast
Rome
According to the AGCM, competition restrictions may have occurred as a result of the 49% acquisition of Moby's capital by SAS.
T&E highlights the need to also count the well-to-tank emissions for LNG used by ships
T&E highlights the need to also count the well-to-tank emissions for LNG used by ships
Brussels
Total greenhouse gases produced would be more than 30% higher than those considered by the FuelEU Maritime Regulation
DFDS and Ekol are rethinking and agreeing on the sale of the Turkish company's international network to the Danish group
Copenhagen / Istanbul
Revised the terms of the deal expired on the first November
Slight downturn in freight traffic in the port of Hamburg in the third quarter
Hamburg
Stable container traffic
The Companies inform
Accelleron initiates partnership with Geislinger to expand service business in the Mediterranean region
Cargotec agrees to the sale of MacGregor to funds managed by Triton
Helsinki
Sale of the value of 480 million that is expected to be completed by the first half of 2025
In the July-September quarter freight traffic in the port of Koper increased by 8.3%
Lubiana
In the first nine months of 2024, the increase was 3.2% percent.
Ok of Ukraine's antitrust enforcement at the entrance of MSC in the capital of HHLA terminalist company
Kiev
The company operates the CTO terminal of the port of Odessa
Inaugurated the new Peruvian port of Chancay operated by China's COSCO Shipping Ports
Lima
Has 1,500 linear metres of docks
More than doubling the value of new orders acquired by Fincantieri in the first nine months of 2024
Trieste
The sunshine committed for shipbuilding grew by +154,3 percent.
Established the Ship Recycling Alliance to speed up the recycling of safe and environmentally friendly ships
Copenhagen
The initiative in view of the entry into force on June 26 of the Hong Kong International Convention
Kuehne + Nagel will acquire 51% percent of the capital of American IMC Logistics
Schindellegi / Collierville
US company mainly operates drayage services
In the third quarter of this year, Hapag-Lloyd's revenues grew by 28.2%
In the third quarter of this year, Hapag-Lloyd's revenues grew by 28.2%
Hamburg
Increase of 3.8% of containers carried by the fleet. Average value of nils up 22.9%
In the third quarter freight traffic in the port of Genoa decreased by -4.9% percent while in Savona-I went up by 15.7% percent.
Genoa
Decided increase in transshipment containers determined by the Red Sea crisis. Down the cruises
In the third quarter, HMM revenues increased by 67% thanks to the 83% growth in the container segment
In the third quarter, HMM revenues increased by 67% thanks to the 83% growth in the container segment
Seoul
+116% increase in the value of the average nole per container transported
Evergreen's quarterly financial performance hike
Evergreen's quarterly financial performance hike
Taipei
Taiwanese company invests 186.8 million to buy new shipping containers
In the third quarter, container traffic at the Eurokai port terminals grew by 9.9% percent.
In the third quarter, container traffic at the Eurokai port terminals grew by 9.9% percent.
Hamburg
In Germany (Eurogate) the increase was 13.6% percent. In Italy (Contship Italy) of 6.8%). Slowing growth at Tanger Med. Damietta terminal will become operational in April
Danaos reports a new drop in quarterly revenue generated by fleet of container carriers
Athens
Coustas : With the Trump administration, which has promised new duties, a future reduction in container traffic is possible
In the first ten months of 2024, the traffic of goods in Russian ports decreased by -3.2%
St. Petersburg
The dry goods amounted to 370.8 million tonnes (-3.5%), those liquids at 372.2 million tonnes (-2.9%)
Port of Ancona, in 2023, underlines the AdSP-container traffic grew by 5%
Ancona
The Port Authority disputes the data released by the Fedespedi Studies Center
Mr vard will build five support ships in the offshore industry.
Trieste
Designed to accommodate up to 190 people, they will be carried out in Vietnam
Alpe Adria activates new rail service between the port of Trieste and the Malpensa Intermodal terminal in Sacconago
Trieste
Euroseas order in China the construction of two 4,300-teu feeder container
Athens
Quarterly revenue from rentals inj growth of 5.8%
The Analysis of the Fedespea Studies Centre on economic and operational performance of Italian container terminals
Milan
GNV strengthens its business department with two nominees
Genoa
New business manager and new general manager of the company in Spain
On the former Carbonyl of the Port of Genoa, the yards of the foranea dam and the subport tunnel
Genoa
The AdSP Management Committee deliberated it yesterday.
In Genoa, the Graduation Day of the Italian Academy of Mercantile
Genoa
Delivered 50 diplomas at the end of the biennial and three-year formative course
On November 27 in Rome, the public assembly of UNIPORT will be held
Rome
Meeting on the theme "Italian Ports, a network of businesses in the service of the country and of Europe"
Roberto Nappi, founder and director for 40 years of "Corriere Marittimo", has died.
Genoa
His career had begun at the writing of the Telegraph in 1958
New EU sanctions to prohibit the use of ships and ports for the transportation of drones and missiles produced by Iran
Brussels
Masucci confirmed president of Italian Propeller Clubs
Genoa
New mandate for the three years 2024-2027
The seamen of the Galaxy Leader have been hostage for a year
London / Hong Kong
Platten (ICS) : It is unacceptable ; humanity prevails and they are immediately released
MSC will implement a markup of noli for maritime transport from the Far East to the Mediterranean
Geneva
Increases of 25% and 18% for containers from 20 'and 40' direct in the western Mediterranean and Adriatic
Completed the dual-fuel retrofit of a large container ship in Maersk
Copenhagen
He will be able to navigate methanol. Increased the hold capacity
Environmental authorization of the Region to dredging the quays from 19 to 26 of the port of Ancona
Ancona
The intervention will cost a total of 16.5 million euros.
SAILING LIST
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
Conference of the CNEL on the Sustainability of Maritime Transport
Rome
It will be held on November 27 in Rome
Intermodal shipments between the port of Trieste and Slovakia are growing
Trieste
In the third quarter the container traffic handled by HHLA dropped by -2%
Hamburg
In Trieste the volumes processed by PLT Italy in the first nine months of 2024 have decreased
In October container traffic in the port of Hong Kong grew by 0.7%
Hong Kong
In the first ten months of 2024, a decline of -5.2%
In the July-September quarter freight traffic in the port of Civitavecchia fell by -11.8%
Cyvitavecchia
The Cruserists increased by 2.7%
Last month the port of Singapore handled 3.5 million containers (+ 8.1%)
Singapore
In the first ten months of 2024, growth was 6.2% percent.
MSC has completed the acquisition of the majority of logistics company MVN
Geneva / Milan
The Milanese business plans to close 2024 percent with a turnover of 100 million euros.
Conference of Assiterminal entitled "Ports in Connection-ESG, IA, CSRD"
Genoa
It will be held on December 5 in Rome
In the summer quarter passenger traffic in the cruise terminals of Global Ports Holding grew by 27.5%
Istanbul
Revenue up 23%
SDC freight forwarder introduced artificial intelligence in the management of customs practices
Venice
Annually the practices followed exceed 15mila units
The sale of the shipping company Santandrea from the Pacorini to Aprile
Trieste
The company was founded in 1989 in Trieste
Port of Gioia Tauro, the memorandum of understanding for security in working environments and port operations
Joy Tauro
Will have a duration of three years
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
Conference of the CNEL on the Sustainability of Maritime Transport
Rome
It will be held on November 27 in Rome
Conference of Assiterminal entitled "Ports in Connection-ESG, IA, CSRD"
Genoa
It will be held on December 5 in Rome
››› Meetings File
PRESS REVIEW
Sudan govt scraps $6bn Red Sea port deal with UAE
(The North Africa Post)
Argentina enfrenta tarifas portuarias hasta 500% más altas que otros países de la región
(Pescare)
››› Press Review File
FORUM of Shipping
and Logistics
Relazione del presidente Nicola Zaccheo
Roma, 18 settembre 2024
››› File
Paola Piraccini appointed as Legal Technical Collaborator of Spininvest
Genoa
Joined in magistrate in 1981, he is a retired cassation adviser
The meeting in Rome between the representatives of Italian ports and ports in Florida
Rome
Expect a comparison to find common themes on which to set up a benchmarking task
This year the Cruserists in the port of Ancona have grown by 18.9%
Ancona
25.1% increase in transits and drop by -5.1% of landings and embarkation
Changed Risso constitutes a joint venture in Cagliari
Cagliari / Genoa
Partnership at 50% with Fausto Saba and Riccardo Vargiu
Ok to the 2025 forecast budget of the AdSP of the Tyrrhenian Sea Centre North
Cyvitavecchia
It presents a surplus of more than 2.5 million euros
In Palermo, the first sheet of the new ferry for the Sicilian region was cut off.
Trieste / Palermo
The delivery of the ship is scheduled for 2026
Global Ship Lease's quarterly revenue records show the first decrease since the end of 2018
Athens
The company believes that its container fleet has very good future prospects of employment
DP World signs an agreement to buy Australian Silk Logistics
Dubai / Melbourne
The expected value of the transaction is approximately 115 million
A worker has passed away in the port of Crotone
Joy Tauro
He would suddenly go down to the ground while talking to some colleagues
Torbianelli : well the ok of CIPESS in financing the future Molo VIII of the port of Trieste
Trieste
Of the estimated 315 million euros, 206.9 are expected by the state
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