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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

TMT CEO Files $100m IP Suit Over Vessel Sale

Hsin-Chi Su, Chairman and CEO of Today Makes Tomorrow Group (TMT) launched a suit in Texas federal court on July 28, 2014, alleging that a planned bankruptcy sale of three company ships, including M.

LNG America Selects Topside Designer for LNG Bunker Barge

LNG America has selected Taylor-Wharton to commence the front-end engineering and design work for the cryogenic topside of the company’s 3,000 cubic meter Gemini

MN 100: Delta T Systems, Inc.

858 west 13th Court Riviera Beach, FL 33404 Telephone: 561 204 1500 E-mail: michael.gabriel@deltatsystems.com Website: www.deltatsystems.com CEO/President:

News

Ecuador Coastguard Orders Damen Patrol Boats

Damen announced it has recently signed a contract with AstillerosNavalesEcuatorianos (Astinave) to construct two Damen Stan Patrols (Spa) 5009 for the Ecuadorian Coastguard.

TMT CEO Files $100m IP Suit Over Vessel Sale

Hsin-Chi Su, Chairman and CEO of Today Makes Tomorrow Group (TMT) launched a suit in Texas federal court on July 28, 2014, alleging that a planned bankruptcy sale of three company ships, including M.

LNG America Selects Topside Designer for LNG Bunker Barge

LNG America has selected Taylor-Wharton to commence the front-end engineering and design work for the cryogenic topside of the company’s 3,000 cubic meter Gemini

People in the News

Lithuania Inks First Statoil LNG Deal

Lithuania seeks to cut dependence on Russia; Statoil to supply 0.54 bcm of gas per year. This will cover about 20 pct of Lithuania's demand. Lithuania signed

DNO Eyes First Kurdistan Crude Shipment

Norwegian firm DNO expects its first shipment of oil from Kurdistan to be sold on the international market by the end of the year and said it was committed to its

Second Tanker Awaits Lifting Opportunity at Libya Port

A second tanker is waiting to load oil at Libya's Es Sider port, state-run National Oil Corp (NOC) said on Thursday, as the country's biggest crude export terminal

Logistics

DNO Eyes First Kurdistan Crude Shipment

Norwegian firm DNO expects its first shipment of oil from Kurdistan to be sold on the international market by the end of the year and said it was committed to its

Second Tanker Awaits Lifting Opportunity at Libya Port

A second tanker is waiting to load oil at Libya's Es Sider port, state-run National Oil Corp (NOC) said on Thursday, as the country's biggest crude export terminal

Storm near Lesser Antilles Could Develop into cyclone

An elongated area of low pressure located about 350 miles east of the Lesser Antilles has a 50 percent chance of becoming a tropical cyclone in the next 48 hours, the U.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Salvage Ship Electronics Ship Repair Ship Simulators Sonar 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: 0.1878 sec (5 req/sec)