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Expected Rise

HHI Profits Plummet 68%

Korea's Hyundai Heavy Industries expects to post a net profit of $39.8 million (44.4 billion won) in the first half, down 68.2 percent from the first half of 1999. The shipbuilding unit of the Hyundai Group expects the lower profits despite an expected rise in first-half sales to $2.69 billion (3 trillion won), up 8.9 percent. Net profits were shaved by investment losses stemming from the company's sale of stakes in Hyundai affiliates, even though its operating profits increased, he said.


Port Plans $105M Investment

Malaysia's Port of Tanjung Pelepas (PTP) intends to buy more than 400 million ringgit ($105 million) of equipment to handle an expected rise in container shipments. PTP's chief executive Mohd Sidik Shaik Osman was quoted by national Bernama news agency as saying he expected volume to triple to 150,000 TEUs by March after averaging 40,000 to 50,000 in the second-half of last year. PTP, a deep-sea port located at the south-western tip of Peninsular Malaysia


Ship Operating Costs 2013 Held Steady Despite the Odds ...

Calculator credit Dominic Alves CCL

Judging by the findings of Drewry Maritime Research’s latest 'Ship Operating Costs Annual Review and Forecast' , ship operators were able to keep increases in operating costs in 2013 quite low – with increases in total costs typically ranging between 1.0-2.5% depending on the sector in question – despite 2013 being another difficult year for most. Commenting on the latest findings Nigel Gardiner, Managing Director


P&O: Economic Slump To Affect Future Revenues

P&O Nedlloyd said on Thursday that global economic slowdown was expected to affect future revenues, as the container shipping group posted a slight rise in second quarter operating profit. P&O Nedlloyd - a joint venture between Peninsular & Oriental Steam Navigation Company Plc (P&O) and Koninklijke Nedlloyd Groep - said operating profit for the quarter rose to $46 million from $44 million a year ago. Overall volumes rose four percent from last year


Zeebrugge Traffic Up 6.6%

Total traffic through Zeebrugge port rose by 6.6 percent to 26.67 million tons in the first nine months of 1999. At the end of the year it expected total traffic to rise to 35 million tons versus 33.4 million tons in 1998. "On the basis of these interim figures we can see that 1999 will be an absolute record year," port management said in a statement, noting that traffic rose by more than 20 percent over the past three years.


Malaysia Port Klang Sees 1999 Container Volume Up

Container volume at Port Klang, Malaysia's busiest port, is expected to rise to 2.1 million TEUs in 1999 from 1.82 million TEUs in 1998.


Swiber Holdings Report Profit Surge

Singapore-based offshore energy group Swiber Holdings issues its Q2 & HY 2012 financial report. Swiber Holdings provide offshore construction, offshore marine, subsea & offshore development services. 2Q 2012 highlights: Net Profit surges 66.0% to US$20.9 million Revenue rises 27.1% to US$229.6 million HY 2012 highlights:  Net Profit rose 36.9% to US$33.5 million Revenue increases 28.0% to US$424.0 million


Northrop Grumman 3Q Profits Soar

Northrop Grumman Corp. (NOC) said third-quarter profit soared 62%, helped by a gain from the dissolution of a joint venture and a strong performance in its ships business. It also raised its forecast for 2007 earnings from continuing operations. The Los Angeles global defense and technology company said net income rose to $489m, or $1.41 a share, from $302m, or 86 cents a share, a year earlier. The latest results included a gain of $21m, or 6 cents a share


Exxon Mobil 1Q Income Soars To $5 Billion

Exxon Mobil Corp., the No. 1 oil company, said first-quarter earnings rose 51 percent, as it cashed in on strong crude oil and natural gas prices as well as better profits from refined fuels such as gasoline. Exxon Mobil posted record first-quarter income, excluding merger effects, of $5.05 billion, up from $3.35 billion in the year-earlier period. First-quarter revenues rose to $57.28 billion from $54.1 billion a year before


Royal Caribbean Profit Plunge

Royal Caribbean Cruises Ltd, the world's second-largest cruise operator, said its quarterly profit fell by two-thirds as costs rose and six cruises were canceled or shortened due to several mishaps. Shares of the company, whose cruise lines include Royal Caribbean International, Celebrity Cruises and Azamara Club Cruise, fell as much as 3.2 percent in early trading. The company shortened or canceled six cruises during January-March, typically the strongest season for cruise operators


Nabors Posts Quarterly Loss as Drilling Activity Slows

Photo: Nabors

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.1 million, or $3.08 per share, in the fourth quarter ended Dec. 31, compared with a profit of $150


Some Roads Reopened in Brazil, Truck Strike Persists

Striking truckers lifted their blockade of dozens of highways in Brazil after police began fining and arresting protesters, though strike organizers said they had no plans to end their stoppage now in its 10th day. Road blockages were reported at 59 locations across six states on Friday down


UK North Sea Investments to Halve

An offshore oil field (file image: credit Statoil)

Investment in British North Sea projects is expected to fall below 8 billion pounds ($12.35 billion) in 2016 from 14.8 billion last year, and could shrink further due to a rise in costs and fall in prices, industry lobby group Oil & Gas UK said in an annual survey on Tuesday.


Softer Panamax Rates Drag Down Baltic Index Slightly

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged down slightly on Monday as rates for panamax vessels fell. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser


Maersk May Reward Shareholders as Oil Unit Suffers

Danish conglomerate A.P. Moller-Maersk may announce a second share buyback scheme in its 110-year history as early as Wednesday, analysts said, allowing it to reward shareholders as its oil unit takes a battering from a slump in prices. Further divestments from its large portfolio of companies


Vietnam Shipping Industry Looks Bullish

Image: Vietnam Seaport Association (VPA)

 The port of Ho ChiMinh City is expected to lead the way in terms of tonnage throughput handled in 2015. The port of Da Nang, however, is expected to outperform the larger Ho Chi Minh City port in terms of box sphere growth (10% compared to 8% respectively)


China’s LNG Terminals Underutilized

Pic: China National Offshore Oil Corp

 According to an Interfax analysis of customs data, China used just over half its LNG regasification capacity in 2014, as tariff hikes and cheaper competing fuels hit gas demand growth.   Slow downstream demand, driven by rising natural gas prices and sluggish GDP growth


Baltic Index Edges Higher on Capesize Gains

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for the second consecutive day on Friday on higher rates for capesizes and smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement


Songa Offshore Sees Tough Year but Narrows Losses

Q4 operating loss $6.8 mln, against expected $7.3 mln loss. Norwegian rig company Songa Offshore expects a challenging 2015 amid fierce competition for fewer contracts despite reporting a slightly better than expected fourth-quarter operating loss on Friday.


Colombian Ports Mull Expansion

Image: The Port Authority of Cartagena

 The container and gross tonnage handling across all Colombian ports will undergo expansion in 2015, cementing a return to growth following a 2013 downturn, says BMI’s Colombia Shipping Report.   "The domestic container demand will be more muted than we expected


Baltic Index Rebounds Slightly from Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged up slightly on Thursday on higher rates for panamaxes and smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain


Marine Lubricants Market to Reach US$9.36 Billion by 2018

Pic: Exxon Mobil Marine Fuels and Lubricants

 Marine lubricants market's revenue is set to grow at a CAGR of 6.13% during the forecast period, eventually reaching a value of US$9.36 billion by the end of 2018.    With regard to volume, the market totaled 2,272.6 kilo tons in 2011 and is expected to rise to 2,852


Indian Shipping Policy Waiting for Final Nod

Image: The shipping ministry of India

 The shipping ministry of India had circulated a draft policy note seeking comments from various ministries ahead of its submission to the cabinet. But the finance ministry headed by Arun Jaitley is yet to offer its comments on the note, says a report in the Livemint  


Paris Talks to Target Shipping Emissions

Image:  International Maritime Organization (IMO)

 194 nations last week agreed at the Geneva Climate Change Talks to a negotiating text which could see international emissions caps placed on the shipping industry by 2020.  Shipping is a large and growing source of the greenhouse gas emissions that are causing climate change


Logistics Suffer as U.S. Port Dispute Continues

File image: A containership unloads at the port of Oakland, CA

Dozens of ships queuing to dock due to ports dispute; Honda slowing North American car production as parts held up. A labor dispute at ports on the U.S. West Coast is disrupting supply chains across the Pacific, forcing some Asian suppliers to resort to costly air freight and pushing up






 
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