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21 November 2024 - Year XXVIII
Independent journal on economy and transport policy
12:58 GMT+1
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BRIEFS
March 22, 2016
Sched Netweb site
  • Creditors grant Hyundai Merchant Marine three-month debt extension
  • If Hyundai forced to restructure debt, Danaos will likely do the same
  • Sri Lanka relents, China gets okay to resume Colombo Port City work
  • India eases up on domestic coastal shipping for foreign-flagged ships
  • Maersk plays with drones for making deliveries to vessels, inspections
  • MSC boosts Europe-India trade with introduction of bigger box ships
  • 12 months of dredging begins in Hung Hom Fairway in Hong Kong
  • IATA expects lithium battery bellyhold ban to be lifted in two years
  • Trans-Pacific Partnership seen as boon to worldwide online shopping
  • Aircargo Club Deutschland plans innovation drive by creating forum

Exim Indiaweb site
MARCH 21, 2016
  • CKYHE Alliance to reorganise Europe service network
  • CMA CGM strengthens West African coast-Europe offer with improved EURAF 5 service frequency & coverage extended to Northern Europe
  • Elektrans Group appoints Chetan Anand as Corporate Advisor to the Board
  • Idle containership capacity at all-time high
  • MOL Group company earns world's 1st SIGTTO certification for seafarer training on Very Large Ethane Carriers
  • SCFI spot rates down again
  • Softlink is ready with upgrades for the Customs Single Window Concept
  • Highest quantity of crude oil in last three years loaded at JN Port's liquid cargo terminal
  • DICT seen by trade as a business-friendly cargo terminal
  • ICD in CONCOR's Multi Modal Logistics Park at Kathuwas inaugurated
  • Govt expediting environment clearance for projects: Javadekar
  • Sugar exports seen surging in current fiscal
  • Deepak Premnarayen to be IMC's President, Dr Lalit Kanodia Vice-President for 2016-17

International Transport Journalweb site
  • «Smaller deals are important too»
  • Faster cargo trains in Las Vegas area
  • Kalil to supervise in Guadeloupe port
  • SIL shows confidence in Felixstowe
  • Harsh environment pushes SBB Cargo back into red
  • Boeing restructures European leadership
  • RWTH and Transporeon set up joint research project
  • Indonesia learning from Antwerp
  • Parcel alliance takes off in Germany
  • Trio of new executives for LH Cargo
  • Logistics company establishes Spanish subsidiary
  • Schedule reliability worsens in February
  • 1,000 vehicles set manufacturing record
  • Krummen Kerzers unfazed by difficult conditions
  • Unveiled - Magritte's magnificent flying machine

IHS Maritimeweb site
MARCH 21, 2016
  • Is the dirtry tanker party over?
    One problem that shipping faces is that forecasts and opinions can be taken out of context by players seeking to portray a particular story. For publicly listed tanker owners, this is resulting in some...
  • Asian maritime community calls for single regional emergency hotline
    The maritime community has called for a single emergency hotline to improve distress communications among the port reporting centres scattered across Southeast Asia. "Sometime when the ship is in distress, there are lots of numbers in the bridge for the master or...
  • Sovcomflot yearly profit leaps on firm markets and lower expenses
    Sovcomflot, the Russian tanker shipping company, has reported a strong rise in net profit for 2015 on the back of firm freight markets and wide ranging reductions in costs. Group net profit rose to USD345 million in 2015 from USD83.9 million in the...
  • New heavy-load ship set for Russian Arctic
    Signifying an important new stage in the development of heavy-load marine transportation, the first of an generation of Arctic-going, modularised cargo carriers is set to enter service with the Dutch company BigRoll Shipping. Capable of loading modules, plant and equipment weighing 10,000 mt over the stern,...
  • VLCC market continues good performance in seasonally weak period
    Spot freight rates in the very large crude carrier market fell last week, but they remain on a high level given that March and April are usually a weak season in the...
  • Expert warns liquefaction rules still not implemented
    A leading expert on liquefaction has told shipowners and marine insurers that incidents involving the liquefaction of nickel and iron ore cargoes should be a thing of the past. Daniel Sheard partner and consulting scientist with marine scientific and technical consultants and surveyors, Brookes Bell...
  • Ship safety hit by economic downturn, says report
    As shipping losses continued their long-term downward trend, one marine insurer has warned the tough economic conditions are having a negative impact on ship safety. There were 85 total losses reported worldwide in 2015, according to Allianz Global Corporate...
  • Dry bulk scrapping gains pace in early 2016
    With no signs of an imminent improvement in the Baltic Dry Index, the first two months of the year has already seen 107 bulkers being scrapped, up from the 81 bulkers scrapped in the same period in 2015. From January to...
  • Hanjin Shipping vows all-out effort to normalise operations
    Hanjin Shipping's management has pledged to shareholders that it will do its utmost to reform and change the company's operations as it works towards paying off debt and normalise operations. To do this, Hanjin Shipping plans to continue with intensive cost-cutting measures, while executing rationalisation of its...
  • Oil logistics unit drags down revenue at Bolloré
    Paris-listed Bolloré Group, which holds 21 port concessions worldwide and operates 14 container terminals in Africa, announced a 2% drop in revenue for 2015 to USD12.2 billion. The decline was due to a 20% drop in turnover at the company's oil logistics segment to USD2.5 billion. The transportation...
  • Majority of Hyundai Merchant Marine shareholders approve stock consolidation
    An overwhelming majority of Hyundai Merchant Marine's shareholders has approved the company's plans to consolidate its stocks to reduce its capital in a 7:1 ratio, helping the massively indebted company to move on with its self-help...
  • Chinese yards new orders down 75.1% in January-February
    Chinese shipyards have received 0.95 million dwt in new orders during the first two months of 2016, plunging 75.1% year-on-year (y/y), showed data released by China Association of the National Shipbuilding Industry (CANSI). The output of newbuildings at Chinese yards stood at 4.2 million...
  • Chevron announces maiden shipment from USD54 billion Gorgon LNG project
    Chevron Australia announced on 21 March its first LNG shipment out of the USD54 billion Gorgon project - one week behind schedule. Carrying the 101,427 gt shipment from its 4.2 km jetty and offloading facility at the Barrow Island refinery...
  • Qingdao port profit up 20% y/y in 2015
    Hong Kong-listed Qingdao Port International posted a profit of CNY1.9 billion (USD294 million) for 2015, an increase of 20% year on year. The company recorded a revenue of CNY7.4 billion, up 6.7% y/y, and its earnings per share...
  • Don't wait for clarity on box weight rule before preparing, warns Inttra
    Compliance with the new container weight verification rule that will be imposed on July 1 is beginning to crystallise around two key points for shippers: What is the carrier cut-off time for submission of the verified gross mass...

The Loadstarweb site
MARCH 21, 2016
  • Hyundai wins public backing from Korea's shipping minister as shipowners warn investors of risks
  • Looming pilot shortage stalks air cargo operators as more narrowbodies are converted into freighters
  • Lufthansa Cargo launches products to boost general freight as earnings suffer 40% slump
  • Possible but implausible - India's relaxation of cabotage restrictions is unlikely to win it transhipment traffic
  • Global logistics companies, private equity firms vie over Korean logistics firm Logen
  • The Cuba thaw will be big for America's frozen chickens

Marine Logweb site
MARCH 21, 2016
  • Carnival gets nod to start cruises to Cuba on May 1
  • BOEM takes first step toward California offshore wind lease
  • Chevron ships first LNG cargo from Gorgon Project
  • Britain's new research ship to be RRS Boaty McBoatface?
  • BOEM identifies Wind Energy Area offshore New York
  • Maersk Line opts for Nacos Platinum integrated systems
  • DNV GL launches LNG intelligence portal
  • Cummins largest diesel yet makes Asian debut

World Wide Shipperweb site
MARCH 21, 2016
  • Coast Guard monitoring vessel grounded in Columbia River
  • Pollution teams respond to fire at Port Orchard Yacht Club
  • Port of Coos Bay schedules public sale for Wednesday
  • The Northwest Seaport Alliance delivers box volume increase
  • Georga Ports Authority sees gains in container numbers for February

Lloyd's Listweb site
MARCH 21, 2016
  • Sovcomflot quadruples profit for 2015
    Long-term contracts shelter offshore and LNG operations, while tankers benefit from spot exposure
  • Data Hub: Trade Routes
    Trade between Europe and North America grew in 2015, but the rate of growth is slowing and lines could soon face troubled waters
  • Data Hub: Trade Statistics
    European exports of beverages to North America the brightest spot as stronger dollar cheers demand
  • Passing of Tom Leander
    Lloyd's List Asia editor-in-chief dies, aged 61
  • Weighing the choices
    As the interface between carriers and their shipper customers, container terminals will have to make choices ahead of the implementation of container weighing rules
  • Our Lloyd's List Awards: Why pedigree and impartiality are a necessity
    We seek diversity, excellence and knowledge, and we seek authoritative credibility and standing in the industry
  • Buy high, sell low
    Monarch aborts its largest wager in a public shipping company at a loss of $156m
  • Limassol port faces disruption from pilots' strike
    Action taken to protest against terms of privatisation for Cypriot hub
  • Hanjin Shipping to introduce express China-US west coast service
    South Korean carrier to start new service from May 24
  • COSL resumes rig operation with Statoil
    COSL Promoter resumed operations in the Troll field in the North sea after negotiations with Statoil
  • Farstad appoints bank advisers to strengthen finances
    Liquidity reserves at $195.2m as of start of 2016
  • Analyst sees intra-Asia as bright spot in container trade
    OOIL best bet to benefit from robust intra-Asia trade, Jefferies says
  • Chevron ships first LNG cargo from Gorgon Project
    Cargo will be transported to Chubu Electric Power on board the Asia Excellence LNG carrier
  • India ports and shipping sector could create 10m jobs over next five years
    Authorities intend to attract more private and foreign investment to ports and shipping sector
  • Better off where?
    The integration of Europe as a federal superstate might be described as a grand plan, but it is one that cuts across all our human inclinations
  • MLP review raises concern over long-term prospects
    Quarterly review of master limited partnerships shows a lot has changed due to low oil prices and sluggish growth prospects in the broader midstream sector
  • Diana Shipping ranks at top of US-listed dry bulk firms
    Greek owner's conservative strategy pays off as rates fall to record lows

The Journal of Commerceweb site
MARCH 21, 2016
  • In this year's trans-Pacific talks, everything is up for negotiation
  • Carriers won't hold US exporters responsible for container weight
  • Total Quality Logistics Expands in South Carolina
  • Savannah port's TEU volume rose 8.1 percent in February
  • Revenue shrinks at top truckload carriers
  • Great Lakes interests criticize increase in pilotage fees
  • UPS expands US next-day, early delivery package service
  • Mega-ship orders were a mistake, shipowner says
  • India seeks developers for Kandla container terminal
  • Greece pushes back bid deadline for state railway
  • Netherlands ports to appeal EU tax ruling
  • European shippers urge EU to 'abolish' GRIs
  • German KG companies fined in 'magic pipe' case
  • DP World to buy major stake in Novorossiysk, Russia terminal
  • Bollore revenue slips on weak oil prices
  • Focus of container weight rule swings to the terminal gate

TradeWindsweb site
MARCH 21, 2016
  • GasLog sees strong fundamentals ahead
    Finance chief says spot market should recover soon and term-charter rates still holding.
  • Buy shares not ships, Wilbur Ross counsels
    Billionaire investor asks fellow owners to lay off on speculative newbuilding orders in crude sector.
  • US admiral: talent key to cyber defence
    Coast Guard commandant expresses concerns over digital dangers in the Arctic.
  • First VLGC loads at US East Coast LPG dock
    Exports from the Marcus Hook complex set to grow as more capacity added.
  • Sovcomflot positive on tankers, upbeat on Gorgon
    Nikolay Kolesnikov says tanker market upturn has time to run, while new Chevron shipment should help improve sentiment in LNG.
  • MPC Capital selling new shares
    Hamburg asset manager boosts capital with new $2.5m private placement.
  • Paragon swaps 18.8% of notes for shares
    Only a fifth of troubled company's bondholders exchange debt for stock in sweetened offering.
  • GS and Red Box win Yamal contract
    Sino-European alliance signs deal that will see a modern vessel carrying modules to Russia's LNG project.
  • Crew errors sped spread of ship fire
    Australian report finds livestock carrier blaze exacerbated by open cabin and stairwell doors.
  • Woolim orders chemical tanker trio
    Korean owner heads to compatriot Yeunsoo Heavy Industry for 6,600-dwt ships.
  • Iraq ships out first ever gas cargo
    Shell and Mitsubishi JV export condensates on Panama-flagged ship.
  • Grimaldi Group linked to Genting fast ferry
    Italian shipowner believed to have paid more than $72m for Asian shipowner's Bimini Superfast.
  • Sovcomflot stacks up profit in 2015
    Russian owner sees strong tanker market and growing gas fleet power bottom line.
  • Evergreen heir gives up succession fight
    Balance of power rests with half-siblings as late founder's son Chang Kuo-wei replaced as director.
  • Gibraltar planning new bunker hub
    Government seeks bidders to build 225,000-cbm fuel and storage plant.
  • Wartsila to equip 27 Maersk boxships
    Danish giant signs deal with Finnish group for integrated control systems on newbuildings.
  • HMM files for creditor co-management
    Loss-making Korean owner reportedly reaches agreement on loan restructuring.
  • Gotland boosted by tankers in 2015
    Swedish owner also attributes higher annual profit to ship sales.
  • Hyundai Merchant 'signs debt deal'
    Korean owner reportedly reaches agreement on loan restructuring with creditors.
  • Songa makes $65.8m claim against DSME
    Norwegian company adds another filing in the long-standing legal row with South Korean yard.
  • KDB to give $1.2bn for big boxships
    Korean bank signs MoU with four other financial institutions in order to help local liner companies.
  • Iran P&I cover deal agreed
    Reinsurance deal to support resumption of Iran trading agreed by the P&I clubs.
  • Allianz warns on ship maintenance
    Economic pressures should not result in a 'put it off until later' mentality.
  • SCI stays cautious on new ship orders
    Indian state owner has lined up only $105m of investment in next financial year.
  • Hanjin Shipping goes express to China
    Korean owner using five 4,000-teu ships between the US and Shanghai.
  • Dutch ports to appeal against EU tax decision
    Group says payment of corporation tax will come at the expense of investments in facilities.
  • Tanker demo may not kick-off until 2020
    After several years of robust investment in new tonnage fleet has a decidedly youthful look.
  • First Chevron Gorgon LNG cargo departs for Japan
    US oil major says milestone underscores its commitment to growing its LNG business in Asia.
  • PSA International profit slips almost 10%
    Lower volumes and higher depreciation costs take their toll at Singapore port operator.

American Shipperweb site
MARCH 21, 2016
  • NEWS FLASH: Ocean carrier group outlines VGM best practices

›››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%)
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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