Sea Containers Ltd. has completed the sale of Newhaven Marina, West Quay and Railway Quay in Newhaven, East Sussex, England to Oakdene Homes PLC for $20.7 million (GBP11.25 million) in cash. Sea Containers will report a profit on the transaction of $10.4 million in the fourth quarter of 2005 and proceeds from the sale will be used to reduce company debt. Sea Containers has now sold almost all of its port property interests in the UK and the sale forms part of Sea Containers' ongoing strategy to focus on its core businesses.
Marine transport company Sea Containers Ltd. posted a fourth-quarter loss, versus a profit a year earlier, citing a bigger fuel bill and a drop in demand for container rentals. The company posted a net loss of $15.8 million, or 85 cents per share, compared with a profit of $8.0 million, or 43 cents per share, a year earlier. Shares of Sea Containers closed on Tuesday at $19.90 on the New York stock Exchange, above a 52-week low of $18.50 and off a year high of $29.69. - (Reuters)
Sea Containers has sold the Isle of Man Steam Packet Company to Montagu Private Equity Limited for $233 million, with effect on June 30, 2003. The profit on this transaction will be $100 million, however, the company has decided to establish provisions for the restructuring of its fast ferry business and to reduce the carrying value of certain assets to current market value. Total provisions will be approx. $40 million.
Sea Containers introduced the Ancona, Italy to Split, Croatia route operated by its joint venture with SNAV, a subsidiary of the Mediterranean Shipping Company. The seasonal service, which started in 2000 and has carried nearly 75,000 passengers and 15,000 vehicles to date, has proved so popular that a larger craft is needed. The high speed catamaran Felix which was built in 1996 and previously operated between Spain and Morocco, will appear in the now familiar Croazia Jet livery
Sea Containers celebrates the Diamond Jubilee by displaying the largest ever photograph of the Royal Family Sea Containers, by Blackfriars Bridge, was covered with the giant picture measuring 100m by 70m and weighing in at nearly two tons. The image was erected by a team of eight people over 45 hours. It is due to remain in place until the end of June. The 'Sea Containers' building was originally built as a hotel in the mid 1970's but opened instead as offices
Finland's Actiw Oy contracted to supply 14 automated container loading systems that speed up containerization of palletised goods The contrat is with Tecnimont SpA, main EPC subsidiary of the Maire Tecnimont Group, Italy, for delivery to an end customer in the petrochemical industry in the United Arab Emirates. The system is the first of its kind where product pallets coming from palletizing lines are fully automatically transferred and loaded into standard sea containers
U.S. Customs Commissioner Robert C. Bonner announced the publication of final Customs regulations requiring sea carriers to provide cargo manifests 24 hours prior to the lading of cargo at foreign ports for shipment to the United States. This information is required in advance to enable U.S. Customs to evaluate the terrorist risk of cargo containers. "Terrorist organizations pose an immediate and substantial threat to the global trading system
According to an Asbury Park Press report, the parent company of SeaStreak is putting the ferry business up for sale and closing its route between South Amboy and Manhattan. SeaStreak's Monmouth County routes between Highlands and Manhattan and Atlantic Highlands and Manhattan will continue. High fuel costs have hit SeaStreak hard, according to the report. The company is expected to lose $2.7 million this year, including a $1.3 million loss on the South Amboy route.
Maurice Storey, the former Chief Executive of the U.K. Maritime & Coastguard Agency (MCA), is to become Chairman of Evergreen Group’s U.K. affiliate Hatsu Marine Ltd., effective December 1, 2003, while Jason Lin continues as president of Hatsu Marine Ltd. Established in January 2002, Hatsu has its headquarters in London and currently owns a fleet of seven new U.K.-flag container vessels including five 6,332-teu ships currently operating in the transpacific trades
CMA CGM has backed Peel Ports’ £300m Liverpool2 development by doubling the frequency of its feeder service to the port. CMA CGM now offers twice-weekly calls in Liverpool from its hub in Le Havre, France and a new weekly call at Greenock, Scotland and Cork, Ireland. Weekly calls to Dublin and Belfast were already established. The company’s expansion into Liverpool will take advantage of Peel Ports’ established Green Highway Network
Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico. The new asset has the capacity for 320 dry units and its initial departure is scheduled for the first week of April
Shanghai-listed Shanghai International Port Group (SIPG) is currently considering acquiring part of the equity stakes in Shanghai Jinjiang Shipping, a container shipping company mainly engaged in China-Japan routes, as part of the group’s comprehensive development strategy.
Will the prestigious TransAtlantic speed and endurance record ever be broken? Should it? Twenty five years ago headlines around the world announced a new world record, the fastest crossing of the Atlantic Ocean, by a ship built in Australia.
Shanghai International Port Group Co (SIPG) is all set to acquire 79.2% stake in intra-Asia container line Shanghai Jinjiang Shipping for up to RMB1.94bn ($312.58m). SIPG plans to buy a 48% stake in Jinjang Shipping currently owned by Shanghai International Group, as well as a 31
The Lord Mayor of the City of London, Fiona Woolf, welcomed the foreign direct investment by Dubai’s DP World into London Gateway, while visiting the recently opened deep-sea container port and Europe’s largest logistics park.
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
Cummins announced the latest addition to the C Power product line, the QSK60 C Power (CP) emergency generator set. Engineered by the Cummins Center of Excellence for the demands of offshore applications, the QSK60 C Power genset is driven by the QSK60 marine auxiliary engine with MCRS fuel system
In another milestone in the development of its London Gateway Logistics Park, DP World has announced Buckingham Group has been awarded the contract to build the Common User Facility (CUF). Following a period of ground preparation and development of key infrastructure by DP World
Last week, the IMO approved international regulations ensuring the weighing of containers before their carriage by sea. The provisions will increase safety, contribute to preventing accidents and prevent loss of containers over board.
Maritime experts are torn on how to curb the menace of overweight shipping containers, which cause severe accidents at sea and on the roads. The difficulties of resolving false declarations of the weight and content of boxes were underlined during a panel discussion at the WISTA-UK Liverpool Forum
The UK’s Parliamentary Under-Secretary of State for Transport and Wimbledon MP, Rt. Hon. Stephen Hammond MP has paid a visit to DP World London Gateway to congratulate the team on their success. During Hammond’s last visit in January 2013
The port of Rotterdam achieved steady results in the first half of the year. Total throughput increased by 0.6% compared to the first half of 2013. The throughput of crude oil increased by 3.3% while that of mineral oil products decreased by 13.5%. The throughput of coal grew by 9
As Britain’s new hub port celebrates its first birthday DP World London Gateway has expanded its network of shipping links and destinations, attracting a series of new deep-sea container shipping services. Mediterranean Shipping Company (MSC) has confirmed that from next month (December)
Company Receives New Refrigerated Containers and Places Order for New Genset Equipment Sea Star Line, LLC began receiving the first of its new 100 40’ and 45’ refrigerated containers ordered as part of its equipment replacement plan announced in August 2014
The captain and first officer of a Kuwaiti container ship have been detained for four days after their ship collided with a fishing vessel in the Red Sea, killing 13 Egyptians, a public prosecutor said on Tuesday. The prosecutor said on Monday that initial enquiries showed the fishing