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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


Jotun Continues to Grow

Image:  Jotun

 Jotun, coating solutions to the global marine fleet,  recorded sales of NOK 10.9 billion and an operating profit of NOK 1.7 billion in tn the first eight months of 2016.   To help secure long-term growth, the company continues to pursue investments in new production capacity and product innovation, both in Norway and other key markets.   To help secure long-term growth, the company continues to pursue investments in new production capacity and product innovation


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


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


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.


Hawaiian Market Growth Boosts Matson Q3 Results

Photo: Matson

Matson, Inc., a U.S. carrier in the Pacific, announced its results for the third quarter of 2014, in which it reported a net income of $21.5 million, or $0.50 per diluted share, compared with $17.2 million or $0.40 per diluted share in 2013, while consolidated revenue for the third quarter 2014 was $441.8 million compared with $415 million in 2013. For the nine-month period ended September 30, 2014, Matson reported net income of $43 million, or $1 per diluted share compared with $46


APM Terminals Mumbai Mulls DPD Service

Photo: APM Terminals

 APM Terminals Mumbai, India’s busiest container terminal, has embraced ‘Direct Port Delivery’ (DPD)service initiated by the Indian government as part of its “Ease of Doing Business Program” to enhance India’s access to the global logistics chain. 


TRIYARDS Post 17% Revenue Growth

Photo TRIYARDS

 Turnover increased 17% in 1QFY17 driven by contributions across its diverse range of product offerings  Difficult market conditions and different mix of products has led to compressed margins  Successful diversification of product range and client base while maintaining excellent quality


Fresh Hopes in Container Shipping: Alphaliner

Table: Alphaliner

 The new year brings with it fresh hopes for a recovery in container shipping although the market remains fundamentally imbalanced, says an Alphaliner report.   A slew of new records were set in 2016 but most of them marked new lows for a container shipping market that continues to


Eastern Hires Adm. Papp as President Washington Ops

Admiral Robert J. Papp, Jr., U.S. Coast Guard (Retired) Photo Eastern Shipbuilding

Eastern Shipbuilding Group, Inc. has appointed Admiral Robert J. Papp, Jr., U. S. Coast Guard (Retired), as President of Eastern Shipbuilding Group, Inc., Washington Operations. Admiral Papp served as an Officer in the Coast Guard for nearly 40 years


Executive Changes at Caterpillar

Tom Pellette is appointed Caterpillar Inc.s group president of Energy & Transportation. Photo Caterpillar

Following the previous announcement that Jim Umpleby will become Caterpillar’s Chief Executive Officer on January 1, 2017, Caterpillar Inc. announced today additional changes in its executive ranks. The company’s Board of Directors has appointed current Construction Industries


INTTRA Celebrates 15th Anniversary

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Marking its 15th Anniversary in 2016, INTTRA, the world's ocean shipping electronic marketplace, looks back on the success of its innovative platform while embracing its future as the digital leader in logistics - growing rapidly and expanding its offering.  


Three New STS Quay Cranes at Khalifa Port

Photo:  Abu Dhabi Terminals

 Abu Dhabi Terminals (ADT) announced the arrival of three of the largest ship-to-shore quay cranes in the world, to accommodate growing volumes and demand at Khalifa Port Container Terminal (KPCT), WAM reports.   Transported from China on specially-built vessels


Antwerp Port Hits Record Volume

Container terminal Photo port of Antwerp

The port of Antwerp will close 2016 with an expected record volume of more than 214 million tonnes of freight handled. The shipping container volume for its part has risen above 10 million TEU (twenty-foot equivalent units, i.e. standard containers) for the first time in the history of the port


BIMCO: What Shipping Market can Expect for 2017

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The shipping market in 2016 and looking forward The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. 2017 will see another year of die-hard competition, which now includes tankers


Colombo Port Volumes Surpasses 2mln TEUs

Photo:  Colombo International Container Terminals Ltd.

 Colombo International Container Terminals (CICT) has reported a throughput of two million TEUs  for the 12 months ending 31 December 2016, a year-on-year growth of 28 percent in volume, enabling the Port of Colombo to register overall incremental growth during three consecutive years.


Cavotec's Strategic Plan Enters Into Effect

MPS - Marine Propulsipon Sliprings. Manufactured by Cavotec Specimas. Photo: Cavotec SA

 Cavotec SA's previously announced strategic plan and new organisational structure — based on two distinct Business Units (BU), Ports & Maritime and Airports & Industry — entered into effect on January 1, 2017. 


Bimco Expects 'Die-hard Competition' to Continue in 2017

Photo: World Shipping Council

 2017 will see another year of die-hard competition, which now includes tankers, says International shipping association Bimco.  The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since


Multipurpose Shipping Freight Rates Expected to Improve

Photo: Drewry Maritime Research

The multipurpose shipping market will see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to the latest Multipurpose Shipping Market Review and Forecaster report published by global shipping consultancy Drewry.


Multipurpose Shipping Freight Rates to Improve by End 2017

Graph:  Drewry Shipping Consultants Limited

 The multipurpose shipping market will see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to the latest Multipurpose Shipping Market Review and Forecaster report published by global shipping consultancy Drewry.


Forum Delivers 350th RT Torque Machine

David Neill of TAM International (left) receives a plaque from George Hendry, business development manager for Forum AMC, recognising the purchase of the 350th RT torque machine. (Photo: TAM)

Forum Energy Technologies, Inc. said it has designed, manufactured, tested and delivered its 350th rotational torque (RT) torque machine to TAM International, a globally recognized downhole inflatable packer leader.   The torque machine, or bucking unit as it is commonly referred






 
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