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
The Cargo Shipping Market is estimated to gain momentum after fiscal year 2018 after years of sluggish growth. Cargo Shipping Market is projected to reach 12.52 Billion Tons at CAGR of 3.5% from 2016 to 2021. According to report Cargo Shipping Market - Global Trends and Forecast to 2021, the growth in container transport will have highest growth in cargo shipping trade compared to other types of cargos.
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
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 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
Murray Hill-based intermodal information technology company Advent Intermodal Solutions on Tuesday announced it has named a new CEO as it plans a redesign of its signature supply chain management system. Parvez Mansuri, who at one time was chief information officer of the company, will now serve as CEO after spending the past four years running an independent venture known as Wireless Asset Management. Mansuri, who had been serving as an adviser and director to AIS
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
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
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?
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
According to its 2017 State of the Cruise Industry Outlook, trade association Cruise Lines International Association (CLIA) is predicting a steady pace of cruise travel interest and significant investment in the industry. Increase in cruise travel is expected to continue throughout 2017
Singapore continues to attract a diverse range of maritime businesses and is now home to over 130 international shipping groups and more than 5,000 maritime establishments. The maritime cluster employs more than 170,000 people and contributes some seven per cent to Singapore’s Gross Domestic
Harley Marine Services has named two articulated tug and barge (ATB) units currently under construction at Gunderson Marine (barges) and Conrad Shipyard (tugs), respectively. The vessels include two 116 foot tugs and two 80,000 barrel barges.
Containership deliveries changed course in 2016, toppling from the record level of 1.7m TEU in 2015 to reach just 0.9m TEU, having previously increased each year between 2011 and 2015, says a report from Clarkson Research Services.
The NYK Group has been selected by Japan's Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) as a “Competitive IT Strategy Company” for 2016. NYK is the first company in the maritime industry to receive this award
“We are about half-way through the 2016 navigation season and our overall cargo tonnage numbers are down by 11 percent,” said Betty Sutton, Administrator of the Saint Lawrence Seaway Development Corporation. “The lack of iron ore and coal has definitely been a contributing factor
Maritime Exchange for the Delaware River and Bay President Dennis Rochford has announced the tristate port vessel arrival statistics for the first six months of 2016. “On top of last year’s increase in vessel arrivals over 2014 activity
Douglas-Westwood has launched its new World Offshore Maintenance Modifications and Operations Market Forecast 2017-2021 which forecasts a steady recovery from the recent oil price downturn with Modifications spend expected to improve significantly between 2017 and 2021.
The economic slowdown in China and the slump in commodity prices has impacted container trade in South Africa with the dry exports market, made up of mostly mining commodities, declining by 2 percent year-on-year in October and declining by 4 percent over the last quarter.
The story of World Wide Metric’s steady growth and promising future. Words are powerful, and “Growing up Metric,” the title of the recently released book by George Contos, the energetic CEO and second-generation ‘Contos’ leader of World Wide Metric
JAX LNG said it has executed the remaining engineering and procurement contracts required to begin construction of a new liquefied natural gas (LNG) liquefaction and storage facility at Dames Point near the Port of Jacksonville. The JAX LNG liquefaction facility is expected to be
The Port of Virginia handled 220,000 TEUs in September and that volume helped to push solid growth in rail cargo and in containers moved to Richmond Marine Terminal by barge. In comparison with last September, TEU volumes are up 2 percent; rail units up 16 percent and volume at Richmond Marine
As Cruiseport Boston closes out its successful 2016 season, 2017 is already shaping up to be a record year with 151 calls scheduled for next cruise season. The 2016 season saw 115 calls by a record 32 unique ships with ten maiden calls to the port
World seaborne trade, whilst still growing at a relatively steady pace, has seen a slightly less rapid rate of growth since 2015, compared to both the longer-term historical average, and the more recent 2011-14 period, says Clarksons Research.
Australia and Indonesia, being the main exporters of coal to China, are growing their market share at the expense of longer haul exporters like the US and South Africa. Therefore, dry bulk shipping demand does not enjoy full tonne-mile demand, when the imported coal volumes increase.