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Growth Continues

IEA: Oil Demand to Grow 2.2% in 2005

The International Energy Agency’s most recent monthly report estimates for 2005 that global demand will grow by 1.8 mb/d, or 2.2%. This projection is on par with the level of growth experienced in 2003, as the global economy was recovering from a steep, but short-lived, recession, but is conservative when comparing it to the record 2.5 mb/d -- or 3.2% -- projected for 2004. The 2005 demand estimate assumes: normal weather, a moderate slowdown in global GDP growth, an easing of crude oil and product prices and a modest reduction in Chinese oil consumption growth. Even so, Chinese oil demand is expected to grow by 510 kb/d, or 8.1% in 2005. The Middle East is also expected to contribute strong consumption growth in 2005 of 260 kb/d or 4.7%. These high growth rates contrast with substantially lower oil demand growth in the OECD of slightly less than 1% in 2005, holding flat in OECD Asia but rebounding slightly in OECD Eastern Europe. Non-OPEC supply, including non-crude production from OPEC, is expected to show robust growth of around 1.6 mb/d in 2005. Non-OPEC supply growth averages over 1.0 mb/d per year during 1995-2005. Russia has been the engine of non-OPEC supply growth over the last half of this period and has the capacity to maintain strong growth in the future. However, in light of recent developments in Russia, this Report takes a more conservative approach to supply growth in 2005


Boatbuilding Booms as More Americans Take to the Water:

New data from The National Marine Manufacturers Association (NMMA) show 88 million Americans expected to take to U.S. waterways this summer. NMMA add that recreational boating in the U.S. has an annual economic value of $121-billion.  The industry’s rising tide supports 964,000 American jobs and 34,833 businesses, generates $40 billion in annual labor income and drives $83 billion in annual spending.


P&I Club Celebrates 21 Years in Germany

Dr Matthias Reith, director of German bulk carrier owner Orion Schiffahrtsgesellschaft Reith & Co of Hamburg, helped the North of England P&I club celebrate 21 years of working with the German shipping industry today. Speaking a major industry reception organized by the club at the Zipplehaus restaurant in Hamburg, Dr Reith said 'In 1982 Orion became the first company from Germany to join the North of England. The club now insures 36 fleets in Germany and works with 11 of the German-based


Inmarsat 3Q Results

FleetBroadband from Inmarsat will will cover the Volvo Ocean Race.

Inmarsat Holdings Limited, a wholly-owned subsidiary of Inmarsat plc (LSE: ISAT), provider of global mobile satellite communications services, reported unaudited consolidated financial results for the 3 months ended 30 September 2008. Q3 2008 Highlights •    Revenue up 16.4% to $162.5m (2007: $139.6m) •    EBITDA up 15.4% to $112.3m (2007: $97.3m) •    Profit after tax up 58.6% to $37.6m (2007: $23.7m)


Saudi Seaports Witness 10% Increase In Cargo To Q3 2010

Chris Hayman.jpg

Kingdom plans multi-billion dollar PPP investments to boost port capacities as imports and container numbers increase 18% and 20% respectively Recognising the vital role of the region’s ports in providing trade links between the Far East, Asia, Europe and the US, international shipping and cargo experts are set to gather in Abu Dhabi on 28-30 March, for the World Ports and Trade Summit 2011. Multi-billion dollar investment in port operations across the Middle East is again surging


CNOOC Growth Continues in 2009

On Jan. 20, CNOOC Limited announced its business strategy and development plan for year 2009. The total targeted net production of the company in 2009 is 225-231 million barrels of oil equivalent (BOE) (with WTI at $60/barrel), compared with the estimated net production of 194-196 million BOE (with WTI at $100.1/barrel) for 2008. During the year, ten new projects are expected to come on stream, eight of which are located in offshore China


Liebherr Werk-Nenzing's 2009 Results

Photo courtesy Liebherr-Werk Nenzing  GmbH

In a highly volatile business environment, Liebherr’s Mobile Harbour Crane Division delivered satisfactory operational performance. In 2009, deliveries amounted to 74 Mobile Harbour Cranes and thus were 27% below those of the previous year’s period. In comparison the total MHC market including all manufacturers dropped ~40%. To complete the picture, this decrease has also to be put in relation with the figures of the previous years


PPG Reports Record Q1 2014 Results

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  PPG Industries (NYSE:PPG) reported record first quarter 2014 net sales from continuing operations of $3.6 billion, up $528 million, or 17 percent, versus the prior year. First quarter 2014 reported net income from continuing operations was $277 million, or $1.97 per diluted share. First quarter 2014 adjusted net income from continuing operations was $279 million, or $1.98 per diluted share, which excludes $2 million, or 1 cent per diluted share,for acquisition-related costs.


UAE to Generate 9.4 Billion by 2014

Frank Courtney

UAE to generate logistics revenues in excess of USD 9.4 billion by 2014 to lead growth of regional logistics and supply chain sector.   International cargo demand in Middle East to expand 4.9 per cent by 2016  Barloworld unveils growth plans focusing on strengthening presence in key markets such as UAE, Saudi and Qatar in 2013     Barloworld Logistics, a  provider of logistics and supply chain management solutions


Continued Growth for Container Leasing Sector

Photo: Drewry

The container leasing sector experienced another year of stellar growth in 2013 thanks to the continuing weakness of carrier financials, according to Drewry’s recently published Container Leasing report. And Drewry forecasts that this trend will continue. The leased container fleet (teu) expanded 7.3% in 2013, fast outpacing the 2% growth recorded by the fleet owned by transport operators, most of whom are shipping lines


DP World 1H 2014 Profit Soars

Container gantry: Photo courtesy of DP World

Global marine terminal operator DP World releases strong financial results from its global portfolio of marine terminals for the six months to 30 June 2014, delivering profit attributable to owners of the Company before separately disclosed items of $332 million, 40


Info-X Invests in $5m Headquarter Expansion

Info-X Software Technology’s newly renovated headquarters in Gurgaon (Photo courtesy of Info-X Software Technology)

Transportation solutions provider capitalizes on outsourcing trend Info-X Software Technology, provider of software solutions and back-office support to U.S.-based transportation companies, introduced its newly renovated and expanded $5 million headquarter facility situated in Gurgaon


Policy Uncertainty Threatens to Slow Renewable Energy Momentum

Photo courtesy of IEA

IEA forecast sees renewable power as a cost-competitive option in an increasing number of cases, but facing growing risks to deployment over the medium term. The expansion of renewable energy will slow over the next five years unless policy uncertainty is diminished


Lamprell First Half Results Beat Expectations

Muhaiyimat project for National Drilling Company (Photo: Lamprell)

Lamprell today announced its financial results for the first half of 2014, reporting results ahead of expectations due to strong operational performance and early results from savings initiatives, generating improved margins. Revenues rose by $125


Kiel Port Growth Continues

Photo courtesy of Port of Kiel

Cargo and passenger handling rise by 3%. Handling in the Port of Kiel continued to grow in the first half of the year. A total of 3.24 million tons of cargo were handled in the first six months of 2014 which is an increase of 3% over the same period of last year


Oceanteam Focuses on Mexico Strategy

OSV: Image courtesy of Oceanteam

Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term strategy confirmed: its newly founded DOT Shipping partnership with Grupo Diavaz and the subsequent approval of the Mexican Energy Reform


Big Increase in Port of Houston Steel Cargoes

Houston Ship Channel: File photo

More steel moved across the docks in July than any month since 2008, Executive Director Roger Guenther reported at the recent meeting of the Port Commission of the Port of Houston Authority. Guenther also noted that PHA has achieved a record


Legislation Signed for Ports Upgrades

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Today, Governor Brown signed AB 2395 Legislation. The bill was co-authored by Bonnie Lowenthal chair of the Assembly Transportation Committee and the Select Committee on Ports (D-Long Beach); Jeff Gorell, a member of the Select Committee on Ports (R-Camarillo); and Hannah Beth Jackson (D-Santa


ABS Opens Office in Beijing

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ABS, a global provider of classification services to the marine and offshore industries, announces the opening of a new office in Beijing. This move shows ABS' determination in expanding best-in-class service for the Chinese market. This new office will allow further collaboration with government


Norsea Group Makes Long-term UK Commitment

Peterhead Harbour, aerial photo

  NorSea Group (UK) Limited is making a major, long-term commitment to the UK with the announcement that it will take over operatorship of Smith Quay and Embankment at Peterhead on a 10-year agreement as of September 1. NorSea Group also has a 15-year lease at South Quay in Montrose and a


DMR Sees US Container Terminal Sector M&A Flurry

Development of US Container Port Volumes, 2000-2013 (million teu)

M&A (Merger & Acquisition) activity in the US container terminal sector is currently at its highest level since the boom time of the mid-2000s. However, whilst the type of buyer is largely similar to what it was, the rationale for pursuing today’s deals is different


APM Terminals Q2 2014 Profit, Volume Growth

Image courtesy of APM Terminals

In its second quarter ended 30, June 2014 APM Terminals reports increases in both profits and container volume throughput. Highlights as follows: Profit in Q2 increased to USD 223m (USD 179m) supported by 8% volume growth throughout the portfolio


Sinopec's Profit up at 32.5 billion yuan in 1H, 2014

sinopec

  Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%. Semi-annual report and display


Ferguson Norge Unveils New NORSOK Workshops

Morten Smith

As a result of market demand for NORSOK workspace modules, Ferguson Norge, specialists in the rental of DNV 2.7-1 / EN 12079 certified offshore containers, refrigeration/freezer modules, workspace modules and accommodation solutions to the global offshore energy industry


CACI Named MSC Logistics Prime Contractor

MSC RoRo: Photo courtesy of MSC

CACI International Inc says it has been selected as a prime contractor to provide logistics support to the U.S. Navy’s Military Sealift Command (MSC) on the Worldwide Logistics Services (WLS) contract. The five-year (one base plus four option years) multiple-award indefinite






 
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