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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


Finning Opens National Distribution Center

Photo courtesy of Finning

Finning has opened its £8 million purpose-built National Distribution Center in Cannock to support its continued customer growth in after sales support and maintenance. The warehouse facility in Cannock houses all of the dealership’s engines plus 60,000 different product lines


Marlink, Palantir Enter IT Services Partnership

Image: Marlink

Marlink and Palantir AS have signed a strategic partnership agreement that aims to improve access to IT services in the maritime industry. Palantir’s IT products complement Marlink parent company Airbus Defence and Space’s extensive AuroraGlobal multi-band (Ka-, Ku-


Society for Gas as a Marine Fuel Launched

Photo: SGMF

The Society for Gas as a Marine Fuel (SGMF) was formally launched by Minister Lui Tuck Yew on Wednesday, October 15, 2014 in conjunction with the Singapore International Bunkering Conference and Exhibition (SIBCON) 2014. Approximately 1,600 delegates from more than 50 countries attended the


Decade Old India Shipping Summit Makes History

Session in Progress at India Shipping Summit 2014

  In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain. The reasons are not too far to see.  From the very beginning it has been reputed to be a


Ezra Bags $70m in Offshore Contracts

Courtesy  Ezra Holdings

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division, EMAS AMC, has won multiple new awards from various energy companies valued at over US$70 million.


Foster Wheeler & MDM Engineering Merged

Courtesy : Foster Wheeler

   Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”) on terms consistent with the merger implementation agreement entered into on March 12, 2014.


B COOL Acquires MEMAC

Image courtesy of B COOL A/S

With the acquisition of MEMAC, B COOL A/S now offers customers one entry to multiple maritime systems – both refrigeration solutions and monitoring of the engine rooms and other technical plants of the ships. B COOL A/S said it has acquired MEMAC


Long Beach Cargo Continues to Climb

Photo: Port of Long Beach

Cargo container traffic rose 7.3 percent in September at the Port of Long Beach compared to the same month last year, making for the Southern California seaport’s busiest September since 2007, the Port’s peak year. A total of 629


Holland America Line & Seabourn names Kammerer is V.P

Mark Kammerer

  Mark Kammerer has been named vice president, international marketing and sales for Holland America Line and Seabourn. In this role, he will be responsible for the companies’ sales offices in the U.K., the Netherlands and Australia


Yara Reports Strong 3Q Results

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 Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price. "Yara reports a strong third-quarter result with record deliveries, reflecting both organic growth and the Bunge acquisition in


Ocean Installer Enters Australian O&G Market

Normand Vision & Normand Mermaid.

Ocean Installer’s said that it has established office in Perth, Australia to meet demand for subsea construction services.  “This is the beginning of our presence in another promising region in line with Ocean Installer’s growth strategy


Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter highlights include Order intake increased 21% to €1,309 million (1,086)


Containers, Cruises Help Boost Marseilles Fos

Photo: Marseilles Fos

Container throughput at French port Marseilles Fos reached 876,711 teu for the period January to September, an increase of 6% on the first nine months last year. The performance - driven by a 9% rise at the Fos 2XL deep sea terminals - was two points better than the trend at other French ports


Caterpillar: Q3 Results Show Improvement

Photo: Caterpillar

Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.45. The third quarter of 2014 included a negative impact of $0.09 per share for restructuring costs


Antwerp Port Achieves Highest Throughput

Port pf  Antwerps success

The port of Antwerp handled a freight volume of 148,344,168 tonnes during the first nine months of this year. That’s 3.7% more than the same period last year. Both the container volume and the liquid bulk volume were strongly up, which helps to explain the continuing growth






 
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