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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


Leif Hoegh Enjoys Healthy 2001

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 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


Manila's Port Gridlock Squeezing Philippine Economy

Photo: Philippine Ports Authority

Philippine furniture maker Betiscrafts Inc should have delivered a shipment of custom-made chairs to Middle East customers last month. But a cargo from China of imported fabric needed for the upholstery has been held up by severe congestion at Manila's main port


U.S. Drivers to Face Delays at Rail Crossings due to Oil Shipments

Delays at Train crossing

  Runaway oil production could slow road traffic as drivers face longer delays to cross train tracks in many congested regions, a U.S. study released on Friday predicted. Oil, coal and grain shipments are taxing the national rail grid as the deliveries of those commodities are expected to


AMI Helps Long Island Maritime Firms Collect 'Sandy' Cash

AMI logo

The Association of Marine Industries (A.M.I.) says it is actively helping Long Island marine based companies recover lost revenue from Hurricane Sandy through NY Rising, a designated New York State funding program. The A.M.I. is making a strong push to ensure that NY Marine based companies are


Pioneer Natural Resources to Double Condensate Exports

3rd U.S. condensate export cargo heading to Singapore; Pioneer expects exports to rise to 50,000 bpd next year. Eyes exports of bigger cargoes to reduce freight costs. Pioneer Natural Resources plans to double its U.S. exports of condensate, an ultra-light oil, to 50


Shippers Must Reduce Costs, Boost Efficiency

Michael Wilson

So what’s keeping ship operators awake at night these days?  Plenty, it seems. Sluggish recovery from a lingering worldwide recession, unsustainable debt loads, endemic overcapacity in most shipping trades, punishing freight rates


Deal to End Lockout at Canada Uranium Mine

Workers are expected to begin returning to the McArthur River

  Canadian uranium producer Cameco Corp and the United Steelworkers union, which represents 535 workers at the world's largest uranium mine and a nearby mill, have agreed to a tentative deal ending a nearly two-week lockout, both sides said on Friday.


Swissco Acquires Its First Liftboat

New asset expands and diversifies fleet offerings, enhancing the group’s value proposition to oil and gas majors as a comprehensive marine services provider; liftboatoat to be deployed within two years, enabling the group to tap into rising demand for liftboat services in Southeast Asia


Port of LA Container Volumes Strongest Since 2010

Photo courtesy of MARAD

The Port of Los Angeles has released its August 2014 containerized cargo volumes. In August 2014, overall volumes increased 6.7 percent compared to August 2013. Total cargo for August was 757,702 Twenty-Foot Equivalent Units (TEUs). It’s the busiest single month at the Port since August 2010


700 Migrants Feared Drowned in Mediterranean

More than 700 people fleeing Africa and the Middle East may have drowned in shipwrecks in the Mediterranean over the last week, bringing the death toll this year to almost 3,000, the International Organisation for Migration (IOM) said on Monday.


For Europe's LNG Ports, Russia Gas Fears and US Exporters Buoy Demand

Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant. Adding to renewed demand is the more potent interest of major east Asian companies


Arctic Wreck Found after 169 Years

Photo: Parks Canada

After more than 169 years, Canadian researchers discovered one of the two ships from the doomed Arctic expedition of Sir John Franklin, cracking one of the largest mysteries in sea exploration. The wreck was found some 11 meters below the surface using a ROV recently acquired by Parks Canada


Oil Edges Below $99 but Supply Risks in Focus

Oil traded slightly lower below $99 a barrel on Thursday, pressured by ample supply and concern over the weakening of demand growth in major consumer nations, as well as a rise in the U.S. dollar. Threats to supply as Libya's output fell and talk of OPEC production cuts limited the decline for


Japan's Minister Says Energy Policy Without Nuclear Difficult

Newly appointed trade and industry minister Yuko Obuchi is interviewed by media outlets on Thursday at METI’s offices in Tokyo

  Japan would find it difficult to formulate an energy policy without nuclear power given its lack of energy resources and the high cost of utilities for companies and households, the country's new trade minister said on Sunday. Yuko Obuchi


India's Coal Imports Causing Port Congestion

Congestion at Paradip expected to ease in a week if rains stop; higher-than-usual congestion at some other ports too. Indian power and steel companies are importing shiploads of coal due to a severe shortage at home, leading to heavy congestion in one of the country's busiest ports that now has


Brent Crude Slips Below US$97

HFO: File image

Brent crude fell for a third day on Wednesday, slipping further below $97 a barrel as inflated supplies and weak economic data from Europe outweighed rising geopolitical tensions in the Middle East. * Fall in Brent defies heightened political tensions






 
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