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.
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
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.
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.
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
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
Norwegian shipping group Leif Hoegh forecast higher operating profit in 2001, helped by a larger RoRo vehicle transport fleet, after a smaller-than-expected 59 percent jump in the first quarter. "After a slow start to the year for the Ro/Ro and reefer segments, the markets picked up in March, a trend which has continued into the second quarter," the company said. "The operating profit, excluding sales gain or loss, is expected to increase from last year through (the) larger RoRo fleet
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
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
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
Container service reliability reached a data-series high in April with the aggregate on-time performance for the three key East-West trades rising to 67.6%, up by 4.1 percentage points on March, according to Carrier Performance Insight , the online schedule reliability tool provided by Drewry
The LPG coaster shipping market continues to be plagued by excess vessel supply with rates remaining stubbornly below pre-financial crisis levels, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.
Global surface warming has slowed since the start of the twenty-first century, while Pacific heat uptake was enhanced. Analyses of ocean heat content suggest that the warm water was transferred to the Indian Ocean, through the Indonesian straits, reports "Natue".
Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility in the market as vessel operators continue to wrestle with overcapacity. Rates for transporting containers from Asia to Northern Europe
According to a report issued by the Intermodal Association of North America (IANA), domestic intermodal volumes rose 4.5 % in the first quarter of 2015, buoyed by domestic containers, which rose 6.5 percent in a quarter-over-quarter comparison.
Freight rates for the shipping of containers from Asia to Northern Europe jumped by 151 percent per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage, according to international shipping association Baltic and International Maritime Council (BIMCO). The dry bulk market has long suffered from weak freight rates stemming
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday, supported by increased demand for capesize vessels. The overall index, which factors in average daily earnings of capesize, panamax
U.S. soybean supplies were expected to balloon 43 percent in the 2015/16 marketing year despite a drop in production due to increased competition on the export market, the U.S. government said on Tuesday. In its first estimate of the supply situation for the 2015/16 marketing year, the U.S
Maersk Line lost market share in container shipping in the first quarter, disappointing analysts who said A.P. Moller-Maersk's forecast-beating results on Wednesday had been helped by one-offs. While the world's largest container shipping business reported a jump in net profit to
Despite industry gloom about the offshore market, orders for production floaters continue to flow. Over the past few weeks a speculatively-ordered FLNG found use off Africa, negotiations began to convert a third LNG carrier to an FLNG, an FSRU was ordered and a modified LNG tanker has been
Italian shipbuilder Fincantieri has fallen to a loss in the first quarter as financial costs rose. Fincantieri ended the first quarter of 2015 with Euro1.11 billion consolidated turnover and an EBITDA equal to Euro59 million. This equated to a loss of Euro27 million
The overall Greek loans of Hellenic maritime companies and ship owners (drawn and committed but undrawn) rose to $64.019 billion by the end of 2014, 4.1% higher than the $61.498 billion of 2013. Petrofin Research in its latest annual research says that drawn loans are up by 2
Crude oil tanker market sentiment weakened in April as average spot freight rates dropped on most reported routes, OPEC said in its latest monthly report. On average, dirty tanker freight rates were down 8% from the month before
French container line CMA CGM’s consolidated net profit soared to $406 million in the first quarter from $97 million a year ago as the French carrier capitalized on efficiency gains, cost cuts and sharply lower bunker prices.