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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


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


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


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


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


Japanese Shipbuilding Consolidation Is Imminent

Kawasaki Heavy Industries is said to be considering integrating its shipbuilding business with those of Ishikawajima-Harima Heavy Industries Co. (IHI) and Mitsui Engineering & Shipbuilding Co. A spokesman for Kawasaki Heavy, Japan's second-largest heavy machinery and shipbuilding firm, said it sees such consolidation as one option but no accord has been reached. Business daily Nihon Keizai Shimbun reported on Wednesday that IHI and Kawasaki Heavy had reached a basic agreement to merge their


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


Ningpo Port Truckers Strike, Disrupt Freight

Thousands of truck drivers went on strike over salary and haulage rates in the eastern Chinese port of Ningbo this week, and a logistics firm said on Friday the industrial action was disrupting operations at the world's sixth busiest port.


DSME Gets UK Shipyard Consulting Contract

Portsmouth Naval Shipyard UK: File photo

S. Korea's DSME says it is to provide naval vessel production and management consulting services for British defense company BAE. Under the terms of the agreement, DSME will conduct investigations on 11 areas of shipyard operations for BAE Systems Surface Ships Ltd


Maersk Buying Back Shares, Earnings Up

Shares rise 5 pct after improved guidance, better quarter than expected. Maersk indicates more buybacks after first in its history. Efficiency, cost savings boost Maersk Line compared to rivals. Denmark's A.P. Moller-Maersk announced the first share buy-back in its 110-year history on Tuesday


First ‘round 3’ Wind Turbine Installed at Westermost Rough

Westermost-Rough Wind Turbine

  The UK’s first commercial 6 megawatt (MW) wind turbine has been installed at the Westermost Rough wind farm, in a new landmark for renewable energy. The next generation machine, designed by Siemens and erected by DONG Energy, is the first of 35 at the 210MW North Sea project.


Hapag-Lloyd Operating Profit Down on Lower Freight Rates

Containership loading: Photo Hapag-Lloyd

Germany's Hapag-Lloyd's said it expected operating profit to drop considerably this year after tough competition in container shipping dragged freight rates lower in the second quarter. The company, partly owned by TUI AG, posted a second-quarter operating loss of 73.7 million euros ($98


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


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


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:


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


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


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


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


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


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 .


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






 
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