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Groups Say NZ Port Merger will Cut Costs

Reports said that shipping and business groups say a proposed merger of New Zealand's largest ports will cut costs. The Ports of Auckland and Ports of Tauranga say they are in advanced discussions about working together, making savings for exporters through a more efficient supply chain. The Employers' & Manufacturers' Association agrees the merger has the potential to reduce costs. The association says they could keep the land but publicly float the combined company, freeing ratepayers' money for investment in other areas. The talks come as Danish shipping company Maersk reviews the option of dealing with a single port in the North and South Islands. Source: Radio NZ


Freight Rate Hikes Benefit South Korean Shipping Firms

South Korea’s major shipping companies benefited in 1999 from freight rate hikes and lower foreign debt service costs resulting from the won’s surge against the dollar, analysts said. However, they said, expectations of rising shipping capacity following more deliveries of new ships would weigh down the growth of revenues for shipping firms this year. Container shipping rates rose about six percent on average last year, which is in line with the country’s recovering exports, one analyst said


Tanker Groups To Pool Vessel Marketing

Two major clean oil product tanker operators will reportedly form a vessel pool to market each other's ships on opposite sides of the world. Japan's NYK Line and International Product Tankers Ltd. (IPC), a joint venture company formed by OMI Corp. and Osprey Maritime Ltd., said the agreement would cut costs and improve services. Under the agreement, IPC will market NYK's fleet of product tankers to European and U.S. customers when positioned in European or Atlantic waters


Pentagon Expected To OK NNS Deal

The Pentagon is widely expected to clear the proposed $2.1 billion merger between the two remaining U.S. builders of nuclear submarines and aircraft carriers, eliminating prospects of any future competition between former rivals. Defense Department officials recognize the peculiarities of the situation faced by General Dynamics Corp. and Newport News Shipbuilding Inc., according to antitrust lawyers, industry consultants and Wall Street analysts. With only one major customer -- the U.S


New Paintjob for Sullom Voe Tugs

The five bright red tugs operating at the Sullom Voe Terminal are soon to display the blue and white corporate colors of their new owner. Shetland Towage, a company wholly owned by the Shetland Charitable Trust, was incorporated into the Shetland Islands Council's ports and harbor operation on February 10, in a bid to streamline operations at the harbor and to cut costs. The first of the tugs is expected to be back in the isles from dry-docking in late June


Halter Marine Confirms Merger Talks

Shipbuilder Halter Marine Group Inc. confirmed it is in talks with an oilfield service company about a possible stock-for-stock merger. The company, which in January announced a sweeping restructuring to cut costs, said it cannot assure the talks will lead to a transaction. It also said it cannot guarantee a deal, if any, would represent a premium over current market prices. Halter Marine, which also builds offshore drilling rigs and engineered products serving the offshore energy industry


Shell To Sell London Building

Oil giant Royal Dutch Shell said on Monday it was selling its landmark London Shell-Mex House building to privately owned U.S. property group Witkoff Group. Shell UK did not give terms of the deal but recent British media reports said New York property baron Steven Witkoff was offering approximately $288 million. Shell said it intended to mostly vacate the art deco building on the Strand, overlooking the River Thames, by the end of the year


Review: Navy Plans to Reduce Fleet

According to www.dailypress.com, a draft Pentagon blueprint renews a plan to shrink the Navy's fleet of aircraft carriers, barely a month after Congress blocked the move. Excerpts of the draft Quadrennial Defense Review, conducted every four years to guide military strategy, call for a fleet of 11 aircraft carriers - or one fewer than exist today. The Navy pushed hard last year to reduce the fleet by mothballing the USS John F. Kennedy, based in Mayport, Fla


Defense Companies Rebound

Defense companies, which have suffered mightily on the stock markets of late, took a sharp upturn, led by General Dynamics Corp., which posted strong earnings last Wednesday and was upgraded by brokerage SG Cowen Thursday. Shares of General Dynamics, builder of the Seawolf submarine and M-1 tank, as well as Gulfstream corporate jets, gained as much as 5-1/8 in morning trading on the New York Stock Exchange, before settling back to 55-3/4, up 3-3/4. Exchange


Cummins Announces 2002 Outlook

Cummins Inc. today released its expectation for improved profitability despite essentially flat revenues for 2002. Cummins Chairman and CEO, Tim Solso, said, "continuing efforts to reduce costs will enable Cummins to achieve a profitability improvement over 2001 with little to no improvement in revenue." During the October 11th teleconference on third quarter earnings Solso noted that rapid market changes in the U.S


Cost-Cutting Container Carriers Forge Ahead: Analysis

Maersk Triple E: Photo CCL 3

As freight rates keep declining, cost reductions are the top priority for box carriers, according to Drewry's 2Q14 'Container Forecaster', highlighting that there is a widening gap between the positive financials of the few carriers really focused on cutting costs and the rest of the top 20 lines


More Slow Boats to China Following P3 Flop: Analysis

Engine room telegraph: File image

With Maersk, MSC and CMA CGM now in damage limitation mode following their failure to get P3 agreed in China, what else can they do to cut costs? Drewry Maritime Research considers the question in their latest 'Container Insight Weekly' – excerpts as follows:


Better Coolant Recycling a Big Saving for Caterpillar

  The coolant collecting and recycling system is projected to save Caterpillar Undercarriage Xuzhou Ltd. (CUXL) nearly 600L of coolant each year and reduce hazardous waste disposal by 20 tonnes annually. What’s more, the facility could save more than $11,000 in the first year alone


Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient. Vale, the world's largest producer of iron ore, reported second-quarter net income of $1


Norway's Oil Sector May Face More Project Cuts, Delays

Credit: Harald Pettersen - Statoil

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off, Bente Nyland, the head of the Norwegian Petroleum Directorate said on Thursday.  


Offshore O&G: Cuts, Delays in Norway as Costs Soar

Home: http://www.npd.no/en/Publications/Facts/Facts-2012/Preface1/

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off, Bente Nyland, the head of the Norwegian Petroleum Directorate said on Thursday.


Statoil Reports Robust Q1

Oseberg field centre - Photo Harald Pettersen - Statoil.

Norway's Statoil defied gloom in the oil sector by reporting first-quarter earnings above expectations on Tuesday due to higher prices and good results from shale gas activities in the United States, lifting its shares.   Regarding new sanctions on Russia


Norway's Offshore Energy Boom Tailing Off

Image credit Kvaerner

Norway's energy boom is tailing off years ahead of expectations, exposing an economy unprepared for life after oil and threatening the long-term viability of the world's most generous welfare model. High spending within the sector has pushed up wages and other costs to unsustainable levels


Maersk's Shipping Profit Doubles on Europe-Asia Demand

Maersk Contianerized.jpg

A.P. Moller-Maersk Q1 net profit $1.207 bln vs $1.072 forecast; Raises full-year outlook. Profit at A.P. Moller-Maersk's container shipping business, a bellwether for global trade, more than doubled in the first quarter as demand on the world's busiest route between Asia and Europe picked up


Threat Detection and Recognition

Courtesy of Arena

Trucks, trains, ships and oil rigs are all potential targets for criminal organizations. Organizations that own, use or transport high value assets recognise the need to protect their goods and employees, especially when they are at their most vulnerable - when in remote or isolated situations


Maersk Shares Fall Following China's P3 Alliance Refusal

Containership image credit Maersk Line

A.P. Moller-Maersk said on Tuesday it had abandoned a planned ship pooling network after China's Ministry of Commerce surprisingly announced it had not approved it. Maersk shares were down 6.2 percent at 1100 GMT compared with a 0.7 percent fall in the Danish benchmark index .


Urgent Need to Cut Costs in UK North Sea

A STatoil rig in the North Sea (Photo courtesy of Statoil)

Britain's North Sea oil and gas industry faces a bleak future where more fields are likely to become uneconomic and shut in as platforms close - unless costs can be controlled, operators say. For some elderly platforms in the Northern North Sea, time is running out


Nippon Steel May Transport Iron on Valemax Ships

5-Vale Beijing VLOC being loaded in Brazil. (Photo - Vale do Rio Doce)

Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker, may start talks on a contract to transport iron ore from Brazilian miner Vale on Valemax ships, the world's biggest bulk carriers, to cut costs, a senior official said. Such a contract would be a boost for Vale


Navy 3D Spares Printing: 'The Future of Logistics'

3D Printing workship Dam Neck: USN photo

The U.S. Navy hosted its first 'Maker Faire', a series of workshops titled, "Print the Fleet," to introduce 3D printing and additive manufacturing to Sailors and other stakeholders attending a two-day event held at Combat Direction Systems Activity (CDSA), Dam Neck, a Navy warfare center


Container Shippers Battle Falling Rates

Photo: Greg Trauthwein

As freight rates keep declining, cost reductions are the top priority for box carriers. Drewry’s 2Q14 Container Forecaster highlights that there is a widening gap between the positive financials of the few carriers really focused on cutting costs and the rest of the top 20 lines






 
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