WSS Continues Growth in Asia Pac

Press Release
Tuesday, March 13, 2012
Niall Denholm

Wilhelmsen Ships Service (WSS) has reported year-on-year growth in South East Asia, despite what WSS Area Director Niall Denholm describes as a ‘stressed market’ for the shipping industry.
“Our products and services portfolio is expanding, and we see that our business within the region has continued to grow, largely due to the investment we have made across Asia Pac in terms of capability, network offices and staffing”, he said.
Denholm, who has responsibility for WSS South East Asia, said that he and his team observed record numbers of port calls and product sales in 2011, despite harsh economic conditions.
“Freight rates are struggling as an over-capacity of tonnage is further hit by global recession,” he said. “The trend we are seeing is procurement departments purchasing essential, ‘must have’ consumables, which has had a knock-on effect on the profile of fast and slow moving stock in our warehouse and logistics operations.”
“The general cruise sector in Asia is picking up, and we now get more calls across the area,” said Denholm. “We expect this will increase when Singapore’s new International Cruise Terminal at Marina Bay Sands is operational, and more and larger vessels call in at this port.”
“We are also seeing an increase in coal and mineral liftings, excluding SE Asia,” Denholm continued. “The offshore business is already strong in Singapore, and we expect to see additional opportunities for Vietnam and Thailand. So, the outlook for Asia Pacific is looking generally positive. However; with bunker prices currently at approx $750/t and the drive to cut fuel costs already in progress, we should expect slow steaming in the dry and wet trade sectors. In addition, a number of operators are looking at regular hull cleaning in attempts to reduce fuel consumption.”
Denholm expects that growth for WSS will be sustained, although perhaps not at the same rate as 2011.
Although prospects for Southeast Asia are good, it is expected that at some stage, further tonnage will need to be taken off line (recycled or laid up). Asian economies are growing, and more European-based companies are moving into this region, not just due to cost pressures, but also to increase their presence in this region, according to Denholm. 

 

 

Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ESS Lands Second Contract with Dolphin Drilling

ESS Support Services Worldwide, part of Compass Group, has won a new, three-year contract, worth £10.5 million, to provide hotel and catering services to Dolphin Drilling Ltd.

Kurdish Crude Oil Tankships: End-Game Still in Doubt

After a legal show-down in Texas this week, the outlook for a handful of tankers holding some $300 million worth of Kurdish oil is not looking good. Seemingly

Greek Warship Evacuates Libya Personnel

Greece safely evacuated embassy staff and more than one hundred Chinese and European nationals from Libya early on Friday with a navy frigate sailing back to the Greek port of Piraeus,

Cruise Ship Trends

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

Fincantieri to Build Third New Princess Cruises Ship

Fincantieri says it has signed an agreement with Carnival Corp. to build  the new cruise ship for its Princess Cruises brand at a cost of about 600 million euros.

Burger Boat to Build New Passenger Vessel

Burger Boat Company announced that it has received a contract for the construction of an 89-foot (27-meter) steel passenger vessel for Wendella Sightseeing Company, Chicago, Ill.

News

ESS Lands Second Contract with Dolphin Drilling

ESS Support Services Worldwide, part of Compass Group, has won a new, three-year contract, worth £10.5 million, to provide hotel and catering services to Dolphin Drilling Ltd.

“K” Line and Ports America Deal on Strategic Partnership

KAWASAKI KISEN KAISHA, LTD. (“K” Line) is pleased to announce that “K” Line and Ports America have agreed to form a strategic partnership aimed at enhancing

New Tolls Structure at Panama Canal

The Panama Canal Authority has advised that a new tolls structure will be introduced when the expanded Canal opens. The proposal the Authority plans to present

People in the News

ABS President Wiernicki Signs New MARAD Agreement

The American Bureau of Shipping (ABS) informs that it has entered into a new Memorandum of Agreement (MOA) establishing the policies and procedures regarding the

MNZ Opens New Office in Port Taranaki

Maritime New Zealand (MNZ) informs that for the first time in 5 years it has a permanent presence in New Plymouth on the opening of a new office at Port Taranaki

Former MSC Manager Sentenced on Bribes Charges

Former Afloat Programs Manager at the United States Navy Military Sealift Command (MSC), Kenny E. Toy, was sentenced to 96 months in prison for receiving bribes, the U.

Logistics

New Tolls Structure at Panama Canal

The Panama Canal Authority has advised that a new tolls structure will be introduced when the expanded Canal opens. The proposal the Authority plans to present

Matson Reports Solid Q2 2014 Results, Dividend Increased

Leading U.S. carrier in the PacificMatson, Inc. reported net income of $18.1 million or $0.42 per diluted share for the quarter ended June 30, 2014, compared with $20.

Tuco Marine Sells First ProZero Fast Workboat

Tuco Marine Group says that it has sold its first boat shortly after the launch of ProZero, the new range of boats for the professional market. The vessel was sold

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3123 sec (3 req/sec)