Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Hawaii service by $175 per westbound container and $85 per eastbound container, effective January 5, 2014. The increase will be filed with the Surface Transportation Board. In addition, Matson will raise its terminal handling charge by $50 per westbound container and $25 per eastbound container, also effective January 5, 2014. Matson estimates that the combined increase of both the rate adjustment and terminal handling charge will result in shipping costs rising by an average of 5.5%. Historically, Matson announced average percentage increases based solely on the rate increase, excluding terminal handling charges. It now combines both numbers for the average percent increase in the interest of greater transparency. "This rate increase will help offset rises in operating costs and support ongoing investments in our Hawaii service," said Dave Hoppes, senior vice president, ocean services. "The adjustment is consistent with our longstanding philosophy of implementing modest, incremental increases as necessary to maintain the highest levels of service, and is identical to increases implemented in 2012 and 2013. Matson continues to diligently look for ways to operate the most efficient, cost effective service possible, without undercutting our standards of quality
When OPA 90 was introduced in wake of the Valdez accident, the stipulation that tankers trading in the U.S. must be double hulled was roundly panned throughout the world, as industry experts bemoaned the fact that one country have such a deciding impact on vessel design. How soon they forget. Ten years and a few tragic sinkings off European shores have let to Italy's sudden plan to ban single-hulled tankers from seven key port areas
The cost of producing oil and gas has risen about 53 percent the past two years, and the trend is expected to continue this year, according to a report released Monday. Business Week reported that those same costs have climbed 67 percent since 2000, but most of the increase has come since the end of 2004, according to an analysis by Cambridge Energy Research Associates and its parent, IHS Inc., which together have created what they call the Upstream Capital Costs Index.
· Higher steel costs weigh on margins · Outlook weakens but top players set to weather downturn Hyundai Heavy Industries Co Ltd 009540.KS reported on Oct 30 that its quarterly net profit fell by a third, hit by rising raw materials costs and losses from the weaker won. The shipbuilding industry faces declining orders and falling shipping demand amid a deepening global downturn
Tsakos Energy Navigation Limited (NYSE: TNP) reported results (unaudited) for the second quarter and first half of 2009. Revenues, net of voyage expenses and commissions, were $88.60 million in the second quarter of 2009 compared to $146.64 million in the comparable 2008 period reflecting the lower freight rate environment. TEN deployed on average 46.0 vessels versus 44.0 vessels in the prior year quarter. Fleet utilization remained high at 97.8% as compared with 97
"How to make ships more efficient?" This was the key question posed at the 15th Canadian Committee meeting of Germanischer Lloyd (GL). More than 20 representatives of the Canada and U.S. Flags, ship owners and operators, yards, consultants, and port authorities attended the event hosted by Executive Vice President Americas Capt. Kevin Coyne and Committee Chairman Peter Cairns from the Shipbuilding Association of Canada.
Carnival Corp. reported that profits rose nearly nine percent in the first quarter, matching Wall Street estimates, but said the outlook for the second quarter was weak. Officials said net income in the first quarter, boosted by its Millennium cruises, rose to $171.5 million from $157.8 million a year earlier. However, softer ticket pricing and slower booking patterns along with higher fuel costs are expected to cause earnings for the second quarter to be slightly lower than last year
Lockheed Martin Corp. says a double-digit jump in the cost of steel and rising oil prices have influenced the rise in the final price tag of its latest warship for the Navy to more than double the initial estimates. Navy officials last month told lawmakers the service's initial estimate of $220m per ship had ballooned to as much as $550 million, which they blamed on design changes that occurred during construction.
International Paint Ltd. is set to initiate product price rises in response to spiraling global raw material costs. “During 2010 the cost of raw materials critical to the manufacture of both our Marine and Protective Coatings’ product ranges increased significantly,” said Paul Westcott, Marine & Protective Coatings Commercial Director. “We have attempted to minimize the impact on our customers for as long as possible by leveraging our buying power and
A rise in freight transportation and revenue from fuel surcharges will restore growth according to new IBISWorld research report With consumers increasing their spending as the economy recovers, and manufacturers likewise boosting their production, demand for inland water transportation will get a boost. Additionally, rising fuel costs will lead to operators earning more money from fuel surcharges. However, the industry will experience some turbulence from rail transport providers
This past week in California, HGH Infrared Systems participated in the Offshore Platform Security Threat Awareness and Response (OPSTAR) program, developed and conducted by the Naval Postgraduate School’s Center for Asymmetric Warfare, and designed to explore the homeland security
One of the most effective and easiest fuel reduction operations is reducing the engine power by reducing the speed of a vessel. Out of the total operational costs of a vessel, fuel costs account for, by far, the highest proportion. When fuel prices soared
An all-electric, fuel cell-powered, unmanned aerial system (UAS) aircraft has been successfully launched from the submerged 'USS Providence' (SSN 719) & flew a several hour mission demonstrating live video capabilities streamed back to the submarine
The vetting inspections of tankers by oil companies are proliferating in frequency, rising steadily in cost and, at an estimated $300m a year, are well on the way to running out of control, claim Intertanko as follows: The Ship Inspection Report (SIRE) programme developed by the Oil Companies
Global coatings supplier Hempel has launched HEMPAGUARD, a new hull coating concept for the shipping industry, which Hempel said offers both outstanding resistance to fouling during idle periods and significant fuel savings. The technology, dubbed ActiGuard
The importance of balancing the numbers for a successful bunker fuel trading operation will be stressed by GAC's Nicholas Browne when he shares his experience at the Lloyds Maritime Academy Bunker Management School this week. In his speech
Saltire Energy, supplier of drilling tools to the offshore oil and gas industry, has posted its year end to June 30, 2013 results with turnover up more than 50% from £21.5 million to £32.9 million. Operating profit for the year has also risen from £14.1 million to £18
The surprising surge in cargo volumes from Asia to the East Coast of North America since July remained strong in September, and even appears to have continued in October says a Drewry Maritime Research analysis. Eastbound Shipments from Asia to the East Coast of North America (ECNA) continued
The unprecedented rate of ocean acidification is one of the most alarming phenomena generated by climate change and the only way to mitigate the dangers it represents consists in reducing CO2 emissions significantly. This is the conclusion of the summary of the Third Symposium on the
Maersk Supply, a subsidiary of the A. P. Moller-Maersk group, came out of the third quarter of 2013 with a profit of US$76-million, against a profit of US$ 48-million in the same quarter in 2012. Revenue rose from US$ 226-million in the period of 2012 to US$ 240 million.
The rising demand for cleaner and flexible energy from two emerging major economies, China and India, may keep the petrochemical market tight, although the shale gas boom in the US is disturbing energy markets around the world, considers the International Energy Agency's (IEA) 'World Energy Outlook
Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Guam/Commonwealth of the Northern Marianas Islands (CNMI) and Micronesia services by $275 for both westbound and eastbound containers, effective January 26
The case for independent monitoring and verification of energy-efficiency initiatives World crude production may rise and fall, but the historical trend shows a steady increase in the price of a barrel of oil, and with it, the price of a ton of fuel
In spite of rising political tension expressed in Bangkok rioting, government sources state that all official services, including Customs and port authorities, are working as normal, reports ship services supplier GAC. However, according to reports in the local press
Shanghai Ship Research and Design Institute (SDARI), the leading ship design company in China and NAPA, the global leader in maritime software solutions and services for ship design and operations, have agreed to expand their co-operation to cover ship performance monitoring.