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Strong Growth

Northrop Grumman Q1 Profit Up 20%

According to a May 3 report from The Associated Press, Northrop Grumman Corp. said its first-quarter profit increased 20 percent, led by strong growth in shipbuilding. Business improved for nearly every sector in which the company operates, except for a 1% decline in information systems. (Source: The Associated Press)


New CEO for Evergas

Mr. Steffen Jacobsen is appointed as CEO courtesy Evergas

  Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk. He brings a wealth of leadership experience in both commercial and technical management, having amongst other positions headed Maersk Tankers fleet management for 9 years. Before that he held both operational and commercial leadership positions in Maersk Tankers, Maersk Contractors and Maersk Drilling.


Port of Rotterdam Records Strong Growth

Throughput figures for the port of Rotterdam continue to show strong growth. In the first 9 months of this year, 277 million tonnes of cargo were handled, 4% more than in the same period of 2004. Growth is above the prognosis for this year as well as the expectations for the longer term, of 2–3 %. Container handling is doing even better with +14%. In weight, container handling went up from 61 million tonnes in 2004 to 68 million tonnes (+12%)


P&O Business Remains Firm

British shipping firm Peninsular and Oriental Steam Navigation Company said that overall trading conditions at its core ports, ferries and logistics businesses had remained firm in the fourth quarter. The company, which de-merged its cruise business last year, highlighted strong growth in its ports unit but said trading in the ferry business had been "reasonable" despite higher fuel costs. Contract logistics had a good fourth quarter though the weakness of the euro hurt unit loads


ABB Wins LNG Propulsion Contract

Chantiers de l´Atlantique, ALSTOM Group, has awarded ABB Marine a contract to supply the electric propulsion system for a new 153,000 cu. M. LNG carrier, owned by Gaz de France. The vessel will be built in France by Chantiers de l´Atlantique and delivered in 2005. The supply of medium voltage power systems to LNG carriers has been a strong growth area for ABB. According to Martinus Brandal, head of ABB´s global Marine business, “In the last three years


Royal IHC sells Subsidiary IHC Sealing Solutions

The SUPREME Standard. (Photo: IHC Sealing Solutions)

Royal IHC (IHC) has reached an agreement to sell 100% of its shares in its subsidiary IHC Sealing Solutions to new owners Willem Steenge, who as CEO is partly responsible for the strong growth of IHC Sealing Solutions in recent years, and Rabo Participaties (RaPar).   The sale enables IHC to strengthen its focus on its core business: offering integrated innovative vessels, advanced equipment and life-cycle support to the dredging, wet mining and offshore construction industries


World Floating Production Report Due Soon

Douglas-Westwood Limited and Infield Systems will shortly be releasing the new third edition of its World Floating Production Report,covering the period 2003-2007. There are currently 165 prospective installations identified by the Infield database for this 5-year period. These prospects include FPSOs, production semi-submersibles, TLPs and spars, along with production barges and FSOs. The indications are that the floating


Schottel Expands in N America

SCHOTTEL-Inc_web.jpg

Over the last years Schottel has enjoyed a strong growth in North America as well as in Latin and Central America. The “Schottel Fleet“ is growing rapidly and new facilities are needed. Schottel Inc.’s main office in Louisiana has recently moved from Harahan to James Business Park in St. Rose where larger facilities can store more spare parts and overhauls being performed more efficiently. The new address: Schottel Inc., 190 James Drive East, Suite 100, St. Rose LA. 70087


US Containerized Imports Up 9.7 Percent in July 2012

Faster container import growth forecasted for remainer of 2012 in Journal of Commerce/PIERS market survey. U.S. containerized imports surged 9.7 percent in July from a year earlier, to 1,562,235 twenty-foot-equivalent units, on strong growth in auto parts and furniture. The growth — imports also advanced 6.2 percent over June — marks impressive expansion of the import trade, especially considering last July's year-over-year drop of 5.2 percent, said Mario O


US Could Eliminate Energy Imports -EIA

Figure 1 (Source: EIA)

EIA's AEO2015 projects that U.S. energy imports and exports come into balance, a first since the 1950s, because of continued oil and natural gas production growth and slow growth in energy demand   The Annual Energy Outlook 2015 (AEO2015) released today by the U.S. Energy Information Administration (EIA) presents updated projections for U.S. energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High Oil Price


VIKING's Profit Run Continues

CEO Henrik Uhd Christensen. Photo Viking

The 2015 financial year saw VIKING Life-Saving Equipment A/S continue its unbroken, 12-year run of revenue and profit increases. Revenues were up nine percent at DKK 1.891 billion, while profits before tax also grew nine percent to reach DKK 200.5 million


BOURBON Invests Heavily in Gas Sector

(Photo Courtesy BOURBON)

While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the acquisition of the activities of a global leader in


Mixed Prospects for Container Shipping

Photo: Cosco

 The latest Container Shipping Forecaster from Maritime Strategies International (MSI) makes a more optimistic forecast on the demand side.    Though its supply-side predictions are broadly aligned with those of Drewry and Alphaliner


Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.   "Even as oil rallies, analysts have barely nudged up their price forecasts as they worry that crude's recent gains


Siemens Acquires CD-adapco for $970m

Pictured is a detailed geometry for STAR-CCM+ simulation of ship self-propulsion, as featured in the December 2015 edition of Maritime Reporter & Engineering News. http://digitalmagazines.marinelink.com/nwm/MaritimeReporter/201512/

Siemens and CD-adapco have entered into a stock purchase agreement for the acquisition of CD-adapco by Siemens. The purchase price is $970 million.   CD-adapco is a global engineering simulation company with software solutions covering a wide range of engineering disciplines including Fluid


Port of Hamburg Reports Bulk Cargo Jump in 2015

Image: Port of Hamburg

The Port of Hamburg reports higher bulk cargo throughput and strong growth in rail and inland waterway seaport-hinterland traffic in 2015 – downturn in container handling. In 2015 seaborne cargo throughput in the Port of Hamburg was 5.4 percent lower at 137.8 million tons.  


Six New VLCCs Marks the Start of a Busy Delivery Year

Image: ConocoPhillips

 2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, says a report BIMCO.    The six new VLCCs were delivered in a strong winter market


Hoegh LNG Pulls Out of FLNG

Photo: Hoegh LNG

 Norway's Hoegh LNG Holdings is putting its floating LNG (FLNG) development activities on hold and to allocate all resources and capital to its core business, FSRUs, because this is where the Company sees the highest return on invested capital and the most promising market prospects. 


Record Year for US East Coast Container Imports

Photo: Greg Trauthwein

Ports on the U.S.’ eastern coast had a very busy 2015 in terms of container traffic, with 7.9 million TEU of loaded containers entering the U.S. East Coast in 2015, a 12.6 percent increase compared to 7 million in 2014, BIMCO reports.  


Tanker Freight Rates Could Weaken in 2016

Crude tanker utilization (%) (Source: Drewry Maritime Research)

Tanker shipping freight rates are expected to remain firm in the first few months of 2016, but with the influx of tonnage these rates are expected to soften towards the end of the year, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry.


Solid Renewal for London P&I Club

Moving into the new P&I policy year, the London P&I Club has seen further growth in its owners’ tonnage, in addition to strong growth in its charterers’ book of business.    Ian Gooch, chief executive of the club’s management team says


RUSCON Box Traffic Up Despite Russian Slump

Vladimir Bychkov Chairman of RUSCON Photo Ruscon

RUSCON has shown strong growth in 2015 despite a significant fall in Russia’s overall container traffic.   The company reported a 32% increase in export traffic, compared with the Russian total of a mere 1.6% rise in exported containers


Inmarsat Sees Rough Sea Ahead

Image: Inmarsat plc

 The satellite communications group Inmarsat plc cautions that with the slowdown in the global economy hitting shipping, satellite communications industry faces rough weather, according to a report in Reuters.   The British company, which provides data and voice connections to shipping


Strong Growth in Container Traffic between Austria and Hamburg

In 2015 around 295,000 TEU – 20-ft standard containers – were transported between the Port of Hamburg and intermodal terminals in Austria by rail. That represents a 9.3 percent gain, setting a new record for Hamburg’s seaport-hinterland services with Austria


Port of Long Beach to See 5% Cargo Growth in 2016

The Port of Long Beach, the second largest port in the United States, will see 5 percent growth in cargo volume this year as a weak U.S. dollar spurs consumer demand, the west coast port's chief executive said on Thursday.   The port, which handles 20 percent of U.S






 
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