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Steady Growth

China Merchants Profit up 29pct

Photo:  China Merchants Holdings (International) Co., Ltd

 While China’s ports continue to face growth pressure, the country’s largest port operator is reaping the rewards of years of investments in overseas projects.   China Merchants Holdings (International) reported first-half net profit rose 29 per cent to HK$2.78 billion  ($US 361 million)  from a year ago, after throughput gains at Chinese terminals exceeded China’s overall container growth rate and traffic through overseas facilities rose at a double-digit clip.   The profit is driven by steady growth from ports and contributions from overseas greenfield projects.   Chairman Li Jianhong said he expected the growth of mainland operations to slow, but noted an overall growth in the second half can be sustained.   By the end of June, the company handled a total container throughput of 41.35 million 20-foot equivalent units, up 5.3 percent. However, the container throughput in Hong Kong and Taiwan fell 18.8 percent due to the upgrading of operating system of Modern Terminals Limited. Li expects overseas business to account for 20 percent of total revenue this year.    Li Jianhong said, "Benefited by contribution from overseas ports, in particular the Sri Lanka project, container throughput handled during the first half of 2015 rose 5.3% year-on-year to 41.35 million TEUs

Jee Announces Expansion for UK Growth

Trevor Jee

Jee Ltd, an indepenedent multi-discipline engineering and training firm, has announced further plans for expansion to accommodate the company’s growth strategy and the creation of 150 new jobs in the UK. The company which provides a complete range of subsea engineering expertise also announced the appointment of new board members Andrea Haywood, Finance Director, and Jenny Matthew, Director, who will help drive steady growth plans

Brightoil Reports Steady Growth in Interim Results

Photo: Brightoil Petroleum

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million. Basic earnings per share amounted to 6.41 HK cents, up 3% from a year ago. Total revenue climbed 11% from HK$40.3 billion in 1HFY2014 toHK$44.9 billion for the period as the twin-engines business model (upstream and

Denison Yacht Sales Acquires Generation Marine

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Industry Leader Continues Strategic Path of Growth. Denison Yacht Sales is pleased to announce its acquisition of Generation Marine, a Fort Lauderdale-based yacht brokerage and service company.  Generation Marine's reputation in the trawler and explorer yacht categories helps strengthen Denison's position in this segment of the yachting market. "We feel strongly that the trawler and expedition markets will continue their steady growth," said Bob Denison

Globalization Keeps Future Bright for Shipping

  By Rich DeSimone     The economic storm signals are all around us: the wild swings in stock markets globally, the contraction of credit availability worldwide and the frequent use of the dreaded “R” word. Is the United States headed for a deep recession? Is a recession already under way? Will the slowing U.S. economy drag the rest of the world’s countries into recession as well?

Moody's May Upgrade Royal Caribbean

Moody's Investors Service placed the long term debt ratings of Royal Caribbean Cruises Ltd. on review for possible upgrade based on its improved debt protection measures, and the steady growth in earnings and cash flow as well as its reduced need for debt to fund capital expenditures following its equity issuance. Moody's review will focus on the impact of Royal's extensive ship building program on debt protection measures

Laid-Up Container Ships

A sharp contraction in world trade has idled more than 200 container ships, threatening the survival of many companies, according to The Journal of Commerce. "The slump in container shipping appears certain to extend into 2010 or beyond. Some companies won't survive," said Joseph Bonney, editor-in-chief of The Journal of Commerce. Carriers operating from Asia to Europe, the world's busiest container trade route, are expected to lose up to $5b this year

IBIA Gains IMO Consultative Status

The International Bunker Industry Association (IBIA) gained Consultative Status at the International Maritime Organization (IMO). IBIA's status has been confirmed by IMO's Council after IBIA received formal recommendation from the Marine Environment Protection Committee (MEPC) at its meeting in 2005. Don Gregory, chairman of IBIA, says: "IBIA has rapidly developed in stature and influence and has enjoyed steady growth in membership since its formation 10 years ago

Chinese Shipbuilder Wins 2012 Award

Luan Xiao Ming, Chief Operating Officer and Executive Director of China Rongsheng Heavy Industries: Photo Rongsheng

China Rongsheng Heavy Industries wins the 'Seatrade Global Performer 2012' award China Rongsheng Heavy Industries, a privately owned enterprise from China, was awarded the “Seatrade Global Performer 2012” at a ceremony in London.
 Mr. Luan Xiao Ming, Chief Operating Officer and Executive Director of China Rongsheng Heavy Industries, received the award on behalf of the Group. Mr. Luan said, “China Rongsheng Heavy Industries was very honoured to receive this prestigious

Japanese Light Industries Look to Expand in Middle East

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A high-level delegation from Japan External Trade Organization (JETRO) recently visited Dubai World Central, the world’s first purpose-built aerotropolis, to take a closer look at the state-of-the-art infrastructure and facilities available to Japanese companies seeking to establish and expand their business operations in the Middle East.  The visit of the Japanese delegation is in line with DWC’s strategy of attracting leading international companies to commence

Fleet Growth Weighs on Product Tanker Earnings

Photo: Alex Sergienko

Healthy returns enjoyed by the product tanker market in recent years are under threat as impending fleet growth is expected to reduce the sector’s earnings over the medium term, according to the Product Tanker Market Annual Report 2015 published by global shipping consultancy Drewry.

Oil Steadies as Equities Rally

Recovering stock markets boost oil prices; U.S. crude on track for first weekly gain in nine weeks. Oil prices steadied on Friday after bouncing back from six-and-a-half-year lows on recovering equities markets, strong U.S. economic growth and news of low crude supplies from Nigeria.

Strategic Marine Appoints New GM

Rob Osborn

  Specialist shipbuilder, Strategic Marine, has appointed Rob Osborn as General Manager for Fabrication and Engineering. Over the last few years, Strategic Marine has established and rapidly developed production capability in the sectors of marine infrastructure

Evergreen Launches Vietnam-Singapore-Malaysia Service

In light of the increasing capacity demand, Evergreen Line will launch its new Vietnam-Singapore-Malaysia service (VSM) this month.    The dedicated feeder loop will utilize two A-type containerships of 1,164 TEU. The first sailing of the weekly service will start from Haiphong on May

Strong Tanker Market Extends Peak Season High Earnings

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Tanker earnings for crude oil tankers have climbed to new strong levels in the first quarter of 2015, with averages not seen since 2008, the Baltic and International Maritime Council (BIMCO) reported.   The demand for crude oil tankers remains high even though the winter months are far

Indian Cabinet Okays Shipping Pact with Jordan

Indian PM Narendra Modi (Official page of Modi)

 The Union Cabinet of India has given its approval for signing of a shipping agreement between India and Jordan. The Union Cabinet was chaired by Prime Minister Narendra Modi.    An official press release said the government had decided to sign the agreement with a view to

Evergreen Launches India-Gulf Service

Evergreen Line announced it will partner with Simatech, a feeder operator based in Dubai, in launching a joint Chennai-Colombo-Gulf Service (CCG) service next month aiming to improve its service on the India-Gulf trade.   The CCG service will utilize four containerships of around 2

Frost & Sullivan Launches Malaysia Mega Trends Report

Monitoring and analyzing Competitive Intensity, Customer Dynamics, Industry Convergence, Disruptive Technologies, Global Mega Trends, New Business Models, and Emerging Markets provides an illuminating view toward future sce

  Frost & Sullivan today launched its latest research, Mega Trends Malaysia in collaboration with the Malaysian Investment Development Authority (MIDA). Mega Trends are defined as transformative, global forces that define the future world with their far reaching impact on business

Swedish Club Reports 'Healthy Growth'

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The Swedish Club reported a solid operating result to its board today, continuing a record of building on steady growth. 2014 was seen as a stable year, where the underwriting result outperformed the financial performance and the insurance products across the board returned a staunch to high

Steady Growth Reported by the Swedish Club

Courtesy The Swedish Club

  The Swedish Club reported a solid operating result to its board today, continuing a record of building on steady growth. 2014 was seen as a stable year, where the underwriting result outperformed the fi­nancial performance and the insurance products across the board returned a staunch

CMR Opens New Korea Office

Brian Kim (Photo: CMR)

Aiming to boost its operations in the Asia-Pacific territory, control instrumentation and electrical engineering specialist CMR Group has invested in a new Korea office.   CMR Group Korea has opened in Busan under managing director Brian Kim who will be leading the company’s operation

Wheelabrator Opens Ontario Location

Marty Magill, Dave Taylor, Jennifer Taylor, Dave Foster, Mark Lambrix, Andrew Carmichael, Shawn Horton, Pierre Tanguay, Neil Moseley, Tim Ogden (Photo: Wheelabrator)

Surface preparation company Wheelabrator Group (Canada) Ltd. celebrated its grand opening with a ribbon cutting ceremony and luncheon after moving to a new location and office complex in Burlington, Ontario.   The brand new office facility offers spacious conference rooms and modern work

Maersk Line Returns to Boston

Photo courtesy of Maersk

Maersk Line, the world's largest container shipping line, resumed operations at the Port of Boston’s Conley Container Terminal with the arrival of the Sealand Illinois on Thursday, the Massachusetts Port Authority (Massport) announced.          

Class Approvals for Alfa Laval PureSOx Scrubber

Alfa Laval PureSOx 2.0 (Photo: Alfa Laval)

As the start of enforcement in Emission Control Areas (ECAs) now begins, Alfa Laval, which reported steady growth in exhaust gas cleaning in 2014, said it has the ability to deliver class-approved systems and is prepared for a higher order intake in 2015.  

Europe's Offshore Wind Capacity Growing

File image: an offshore wind farm (Siemens)

New capacity edges down 5 pct from record 2013; industry body forecasts stable growth over 2015/6. Europe's offshore wind capacity kept up a steady rate of growth in 2014 and should expand at a similar pace on average over the coming two years, an industry report said on Friday.

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