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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


Teekay Tankers Misses 4Q Profit forecasts

Teekay Tankers vessel in Port Said Egypt  Courtesy Teekay Tankers

Teekay Tankers Ltd. reported adjusted net income attributable to its shareholders of $48.5 million, or $0.31 per share, for the quarter ended December 31, 2015, compared to $18.6 million, or $0.21 per share, for the same period in the prior year. The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.


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


China and India Key Markets for Transportation

Image: Norton Rose Fulbright US LLP

 The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead Transport survey from global law firm Norton Rose Fulbright.   China and India are the most popular jurisdictions for investment, followed by the US, with growth through consolidation viewed as the best investment opportunity currently.    Harry Theochari, global head of transport at Norton Rose Fulbright


Chemical Shipping Freight Rates to Remain Firm

Graph: Drewry Shipping Consultants Limited

 Chemical tanker shipping freight rates are expected to remain firm over the medium term, thanks to rising production capacity in key exporting countries, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.   Since 2015, the US has started to export more and import less volume of liquid chemical products. US methanol capacity surged 77% in 2015 with the addition of around 3.5 million tonnes per year of new capacity. 


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


Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday. The company's net profit for the three months to June 30 was 504.18 million riyals ($134.44 million), up from 342


GAIL, Gazprom Renegotiating LNG Deal

Photo: Gazprom

 As weak demand in India forces it to stall some contracted supply, GAIL India Ltd (GAIL) is in talks with Russia's Gazprom to delay and renegotiate a 20-year gas purchase deal undercut by low spot prices, reports Reuters.   GAIL  and Gazprom had earlier signed a deal for two


Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including a rare purchase of Alaskan North Slope (ANS) for its refineries in China, trade sources said on Friday.


Capesize, Panamax Vessels Drag down Baltic Index

file image: a so-called ValeMax Bulk Carrier (Vale)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday due to weaker rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Dips on Capesize Rates

File image: a typical bulk carrier underway (BSM)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on weaker capesize vessel rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 2 points, or 0


Shift in Shipping Market Direction

Graphs: Allied Shipbroking

It has been a year full of turmoil and poor market performance in the shipping markets, yet over the past couple of months both sentiment and real market direction has shifted and along with this so have asset prices of secondhand tonnage, says Allied Shipbroking Weekly Market Report.  


Dark Cloud of Offshore Storage Looms

Glencore books the STI Grace tanker to store fuel at sea-traders. This has not been the summer many oil traders had expected after last year's bumper profits. Banking on more of the same, the world's refineries have churned out more diesel


Baltic Index Firms on Panamax, Smaller Vessels

File image: a Bulk carrier underway (BSM)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on firmer rates for panamaxes and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0


Stolt-Nielsen buys Jo Tanker's Chemical Tanker Ops

File image: creddit: Stolt-Nielsen

Stolt-Nielsen buys competitor's chemical tanker operations. Deal includes 13 chemical tankers and 50 pct in 8 newbuilds. Details of the deal include:   Stolt-Nielsen agrees to acquire the chemical tanker operations of Jo Tankers.


Cargo Shipping Market to Reach 12.52 Bln Ton by 2021

Photo: Maersk Line

 The Cargo Shipping Market is estimated to gain momentum after fiscal year 2018 after years of sluggish growth. Cargo Shipping Market is projected to reach 12.52 Billion Tons at CAGR of 3.5% from 2016 to 2021.   According to report Cargo Shipping Market - Global Trends and Forecast to


Asia Tankers: VLCC Rates Steady on Drip-fed Cargoes

Freight rates for very large crude carriers (VLCCs) are set to maintain the current levels next week as charterers drip-feed cargoes for August loading into an overtonnaged market, ship brokers said.   "There is quite a negative outlook... we may be close to the bottom


Higher Rates Continue to Perk Up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, boosted by stronger rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Iron Ore Surge Could Boost Asia Bulk Capesize Rates

Freight rates for large capesize dry cargo ships on key Asian routes could rise next week on higher volumes of iron ore cargoes, ship brokers said.   "It's a bit more positive, optimistic next week," a Singapore-based capesize broker said on Thursday.  


Baltic Index Rises on Freight Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, extended its rally on Thursday, driven by higher rates across all vessel types.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Hyundai Heavy Affiliate Aims to Sell Stake in Brokerage Unit

South Korean shipbuilder Hyundai Heavy Industries said on Wednesday that its affiliate aims to sell its brokerage unit Hi Investment & Securities by the end of this year.   The affiliate, Hyundai Mipo Dockyard, holds an 85 percent stake in Hi Investment & Securities.  






 
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