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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


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.


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.


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


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


AP Moeller Shares Fly High In '99

Danish shipping and oil group A.P. Moeller shares surged 95 percent in 1999, bolstered by a 150 percent rise in crude oil prices and improved freight rates, and analysts predict solid profits in 2000 along with more takeovers. Earnings per share (EPS) for D/S 1912 is expected to climb to 2,762 crowns this year and rise a further 24 percent to 3,424 crowns next year, with D/S Svendborg seen reaching 3,880 crowns in the current fiscal year and 4,917 crowns in 2000.


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


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


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


US 2014 Petroleum Production: Why Hubbert was Wrong

Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.S


Rotterdam port's throughput almost stable

The Port of Rotterdam’s throughput in the first quarter of 2014, at 109 million tonnes, was 0.2% below the level for the corresponding period last year.Split up by goods type, less crude oil (-2%), mineral oil products (-14%) and other liquid bulk cargo (-14%) were transferred


India's Reliance Q4 Sales Rise

Reliance Refinery

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue. Reliance, which operates the world's biggest refining complex in western India


Saudi SABIC Q1 Profit Falls 1.8 % On Product Prices

  Profit at Saudi Basic Industries Corp (SABIC), one of the world's biggest petrochemical firms, slipped 1.8 percent in the first quarter of this year as lower product prices offset rises in production and sales volumes. SABIC made a net profit of 6.44 billion riyals ($1


Iran's Oil Exports Surge above Sanctions

Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on curbing Tehran's nuclear program. The International Energy Agency's monthly report revised February's global crude imports from Iran


Oil Major Total Close to Angola Kaombo Decision

Kaombo block (Courtesy Total)

French oil major Total is on the verge of making a final investment decision on Angola's Kaombo oil project after lowering the cost by $4 billion, its chief executive said on Friday. "We're on the verge," Christophe de Margerie told reporters on the sidelines of an oil conference in


LNG Bunkering Will Develop Fast - LR Study

Frontispiece image courtesy of LR

Lloyd's Register’s (LR) LNG Bunkering Infrastructural Survey 2014 indicates that major ports around the world are either planning for, or are anticipating, the wide-scale development of LNG bunkering. 22 ports were assessed in the analysis with 18 key questions addressed.


U.S. GHGas down by 10 % - EPA

U.S. greenhouse gas emissions fell nearly 10 percent from 2005 to 2012, more than halfway toward the United States' 2020 target pledged at United Nations climate talks, according to the latest national emissions inventory. The report showed that emissions dropped 3


China crude oil output up

China's refinery crude throughput in March rose 2.6 percent from a year earlier to 41.92 million tonnes, or 9.87 million barrels per day (bpd), data from the National Bureau of Statistics showed on Wednesday. Daily crude runs, however, fell 5.7 percent from 10


North Sea: Potential VLCC Moves to South Korea

North Sea Forties crude differentials were unchanged on Wednesday in very quiet pre-Easter trade, with dealers still watching two potential VLCC shipments to Asia and the stuttering return of Libyan oil supplies. A strong early rally in flat-price Brent futures also kept traders on the sidelines


Keppel Q1 Profits Dip Slightly

Maersk Intrepid was delivered by Keppel in Q1 2014 (Photo courtesy Maersk)

The Keppel Corporation released its limited unaudited results for the first quarter ending March31, 2014, reporting a 5% decrease in net profits to S$339 million compared to Q1 2013's S$357 million, though the company attributed the decline to one-off gains from the reversal of provision from the


Offshore Driller Noble Corp Q1 Earnings Beat Forecasts

Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues. ThomsonReuters I/B/E/S had forecast earnings of 70 cents a share or 82 cents a share excluding special items.


Padbury delays detailing port funding

Padbury Mining on Thursday failed to reveal the investors behind a more than $6 billion port and rail project in Western Australia's iron ore belt, asking for its shares to remain suspended until it can provide details on the huge deal.


Woodside Q1 earning up, no Leviathan deal

Woodside Petroleum, Australia's largest independent oil and gas producer, reported a 5 percent rise in first quarter production on Thursday but said it had not yet finalised a deal to take a stake in Israel's Leviathangas field.


Port of LA March 2014 Container Volumes Surge

Container ship: Image courtesy of Port of LA

The Port of Los Angeles has released its March 2014 containerized cargo volume figures, showing that container imports surged 42 percent, from 231,397 TEUsin March 2013 to 327,497 TEUs in March 2014. Exports rose 21 percent, from 154,428 TEUs in March 2013 to 187,826 TEUs in March 2014.


 
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