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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

IBIA Celebrates 23th Annual Dinner

Association appoints new board members and sets priorities for the future   The International Bunker Industry Association (IBIA) has appointed three new members

OSV Delivered to MC2 in Dubai

Marine Core & Charter LLC (MC2) headquartered in Dubai has taken delivery of the new build PETRA-1, the first of two, 45-meter Fast Offshore Support Vessels in

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

News

NATO Sea Mission Launched against Migrant Traffickers

NATO ships are on their way to the Aegean Sea to help Turkey and Greece crack down on criminal networks smuggling refugees into Europe, the alliance's top commander said on Thursday.

IBIA Celebrates 23th Annual Dinner

Association appoints new board members and sets priorities for the future   The International Bunker Industry Association (IBIA) has appointed three new members

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

People in the News

Guy Harvey to be Honored by Seafarer's House

Guy Harvey – artist, conservationist and entrepreneur – has been selected as this year’s recipient of the Seafarers’ House International Golden Compass Award. The

Delia Succeeds Schmidt as Ohmsett Program Manager

MAR Incorporated has named John Delia the Program manager for Ohmsett – The National Oil Spill Response Research & Renewable Energy Test Facility, succeeding Bill Schmidt who retired in December 2015.

OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the

Logistics

First ‘Reachstacker’ Starts Duty in the Port of Ravenna

Liebherr Maritime Cranes delivered a LRS 545, the first model out of the new reachstacker series, to the Italian Port of Ravenna.   The Port of Ravenna is one

Chemical Shipping Freight Rates to Remain Under Pressure

On the back of low bunker prices and more new buildings to be delivered in 2016, chemical shipping freight rates for both contracts of affreightment and spot cargoes

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1201 sec (8 req/sec)