Freight Operator News

Disruptions to Red Sea shipping caused by Houthi attacks will push up prices of consumer goods, an executive from port and freight operator DP World said on Tuesday as a missile struck another vessel in the region.The Iran-allied Houthi militia has threatened to expand its attacks to include U.S. ships in response to American and British strikes on its sites in Yemen.Attacks by the Houthis on ships in the region since November have impacted companies and alarmed major powers - an escalation of Israel's more than three-month-old war with Palestinian Hamas militants in Gaza.

The Bermuda registered, Norway based dry bulk shipping company Golden Ocean Group (GOGL) announced a net income of $36.7 million and earnings per share of $0.26 for the third quarter of 2019 compared with net loss of $33.1 million and loss per share of $0.23 for the second quarter of 2019.EBITDA stood at $81.1 million for the third quarter of 2019, compared with $21.5 million for the second quarter of 2019.Birgitte Ringstad Vartdal, Chief Executive Officer of Golden Ocean Management AS, said: “Our strong performance in the third quarter is the result of our strategic decision to gear our fleet towards modern, fuel-efficient vessels in…

Rail freight operator Metrans received the first Vectron multi-system locomotive at its container terminal in Prague.The vehicle is part of an order of ten multi-system locomotives. They are being manufactured in the Siemens Mobility factory in Munich-Allach and will be delivered in full by spring 2020.Metrans will deploy the new Vectron locomotives in transnational freight traffic across Central and Eastern Europe.“We are very happy to have received the first of ten Vectron locomotives from Siemens Mobility at our location in Prague. The expansion of our locomotive fleet to nearly 100 vehicles highlights our commitment to grow with the transport flows of the future.

Polish rail freight operator PKP Cargo has rebranded its Czech subsidiary Advanced World Transport (AWT) to PKP Cargo International. Besides the new name, the Czech company has obtained a new corporate logo and colours.Advanced World Transport is the second largest rail freight carrier in the Czech Republic. In May 2015, PKP Cargo S.A. took over 80 percent shares in the company, and in November 2017 the remaining 20 percent.In December 2018, AWT acquired 80 percent shares in the company Primol-Rail d.o.o., which in 2019 received a certificate enabling provision of the rail freight on Slovenian market.Last year, the AWT comprehensive restructuring process began, which already has visible effects.

Norway based dry bulk shipping company Golden Ocean Group (GOGL) is planning to make a further investment in Singapore Marine Pte Ltd in connection with the acquisition of the majority of assets and operations of Swiss Marine by the latter.Swiss Marine is a privately owned freight operator founded in 2001 that transported over 120 million metric tons of cargo in 2018.The Bermuda registered GOGL said in a press note that including new commitments from Golden Ocean of $9.5 million in equity and $0.7 million in the form of a shareholder loan, Singapore Marine has raised a $44 million in addition to the $105 million in available capital raised in April 2019.Golden Ocean has in total invested $19.5 million in equity and $10.7 million in shareholder loans…

The provider of cargo handling solutions Kalmar has been awarded a contract to supply leading European rail operator Lineas Intermodal with two Kalmar Hybrid Straddle Carriers, said its parent company Cargotec.The order was booked in Cargotec's 2019 Q3 order intake with delivery scheduled to be completed in Q1 2020.Being the largest private rail freight operator in Europe, Lineas operates the intermodal rail connected terminal ‘Main Hub’ in Antwerp-North.The company’s Green Xpress network concept offers customers a door-to-door solution with daily, fast and reliable rail connections between Europe’s economic hubs, significantly improving the supply chain and the ecological footprint of its customers.

Companies are leaving Britain's shipping registry due to uncertainty over Britain's departure from the European Union and future commercial arrangements with the bloc, industry officials say.All commercial ships have to be registered, or flagged, with a particular country partly to comply with safety and environmental regulations. Shipping companies in many so-called "flag states" pay corporation tax based on vessel tonnage rather than profit.Britain's ship registry forms part…

Norway-based dry bulk shipping company Golden Ocean Group Limited (GOGL) has acquired a 15% ownership interest in Singapore Marine, a dry bulk freight operator sponsored by Peter Weernink, the former Chief Executive Officer of Swiss Marine SA.Singapore Marine, which has offices in Singapore, Geneva and Verbier, will initially focus on the Post Panamax to Capesize vessel segments and seek to generate returns in all market conditions by employing an asset-light business model.Thomas Semino, Chief Commercial Officer of Golden Ocean, will be appointed as a Director of Singapore Marine.Semino said: "While Singapore Marine will operate independently from Golden Ocean and our participation in the company is primarily financial, we expect to derive additional value through this relationship.

DP World has bought back British ferry and shipping freight operator P&O Ferries for 322 million pounds ($421 million), more than a decade after it sold it.DP World acquired the British shipping and logistics company in 2006 but soon sold off some assets, including P&O Ferries to its major shareholder, state holding company Dubai World.DP World announced on Wednesday it was buying the company, and a spokeswoman later told Reuters it had bought it back from Dubai World.Dubai World was at the heart of the emirate’s financial crisis at the turn of the decade and was forced to restructure around $

Sweden’s Stena and Bermuda-registered Stolt-Nielsen are reviewing their UK-registered ships ahead of Britain’s departure from the European Union, the two leading transport companies told Reuters separately on Wednesday."In the light of the Brexit process we are considering whether the UK flag can become a possible issue for us when it no longer will be an EU flag post the 29th March 2019, but we have taken no decisions and are reviewing different scenarios," said Ian Hampton, chief people & communications officer and Brexit spokesperson for Stena Line.A spokeswoman for Stolt-Nielsen…

British ferry and shipping freight operator P&O will re-flag its entire UK registered fleet to Cyprus ahead of Britain’s departure from the European Union to keep tax arrangements in the bloc, the company said on Tuesday.Last month P&O said it was re-flagging two of its UK ships operating on the English Channel route to France to the Cyprus registry."In advance of Britain leaving the European Union on March 29, 2019, we undertook a review of the flag status of our ships on the English Channel," a P&O spokesman said in a statement on Tuesday."For operational and accounting reasons, we have concluded that the best course of action is to re-flag all ships to be under the Cyprus flag." Reporting by Jonathan Saul

British ferry and shipping freight operator P&O is reviewing its UK-registered fleet and is already re-flagging two vessels to keep European Union tax arrangements ahead of Britain's departure from the bloc, the company said.A P&O spokesman said two of its UK ships operating on the English Channel route to France would be re-flagged to Cyprus."The change is being made to preserve the tonnage tax financing arrangements, under which the ships should remain flagged in an EU member state," a statement said.The spokesman added that P&O was reviewing the flag status of its four other ships operating

British ferry and shipping freight operator P&O is reviewing its UK-registered fleet and is already re-flagging two vessels to keep European Union tax arrangements ahead of Britain's departure from the bloc, the company said.A P&O spokesman said two of its UK ships operating on the English Channel route to France would be re-flagged to Cyprus."The change is being made to preserve the tonnage tax financing arrangements, under which the ships should remain flagged in an EU member state," a statement said.The spokesman added that P&O was reviewing the flag status of its four other ships operating on the Channel route, although no final…

South African state rail-freight operator Transnet is embarking on a major expansion drive in the rest of the continent, offsetting a slowdown at home caused by the slump in commodity prices, chief executive Siyabonga Gama said on Wednesday.   Transnet, which operates nearly three quarters of all Africa's rail network, was opening offices in West and East Africa and looking to deploy its expertise in running ports and pipelines as well rail, Gama told Reuters on the sidelines of the World Economic Forum on Africa in Rwanda.   (Reporting by Ed Cropley)

The regional government of the northern Spanish region of Aragon and the Chinese city of Yiwu signed an agreement to maximize the benefits of the Yixinou freight train, which links the Chinese city and Madrid, the capital of Spain, reports Xinhua. The "train of silk" goods "Yixinou", unites over 13,052 kilometers Yiwu city with Madrid, has a stop in Zaragoza. An 8,000 mile crossing from China to Spain, passing through eight countries and taking 20 days, has raised hopes of a new "Silk Train" transport route. The President of the Government of Aragon, Javier Lamban, and the chief of Yiwu, Sheng Qiuping, have signed this agreement to strengthen economic relations between the two countries.

Swiss  Mediterranean Shipping Co. (MSC) has finalized the acquisition of CP Carga, the freight and logistics unit of Portugal’s state-owned railway. MSC Rail, railway company of MSC, has completed the acquisition of the CP Carga - Logística e Transportes Ferroviários de Mercadorias SA, railway company established in 2009 and formerly owned by the group's entire public rail Portuguese Combois de Portugal (CP). The acquisition plan for of 95 percent of the rail freight carrier was formalized  and announced last year, but the Portuguese authorities gave their consent in December 2015. With the transaction MSC Rail got the 95% stake in the Portuguese company, while the remaining 5% will be offered to employees of the railway company.

A short drive west of Johannesburg on the edge of a fading bohemian high street stands 27 Boxes, a mosaic-colored retail center built entirely of old shipping containers. Opened in August, it consists of 27 iron containers stacked Lego-like into three floors of stores ranging from a green grocer, al fresco coffee houses and a Philadelphia-style grill house, to a toddler-wear boutique and bicycle rental shop. Retail expansion in South Africa, especially in the small business sector…

As the political and humanitarian situation in Calais continues to unfold, the specialist freight transport insurer, TT Club provides a perspective on the implications for the freight and haulage industry and steps which operators can take to avoid heavy penalties from being caught carrying illegal immigrants. While focused on the current situation in Calais, the precautionary measures recommended are generally relevant. The problem of illegal immigrants entering Western Europe has been a geopolitical issue for several years. Thus far in 2015 it is widely reported that there have been in excess of 37,000 attempts by immigrants to cross from France to England, the vast majority via Calais.

“In a market environment that continues to be difficult, Bourbon can today report third-quarter 2010 revenue growth of 6.4%. This confirms the upturn in our Offshore activity, announced previously and already in evidence in the second quarter. It also confirms our strategic choices and reflects our unique positioning on the market. Our clients are enthusiastic about the new BOURBON vessels which are proving to be more innovative, safer and capable of keeping their operating costs down,” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon. “Bourbon predicted a gradual recovery in the oil companies’ activity in the second half of 2010 and more substantial growth in 2011. The activity of the third quarter confirms this trend.

Bourbon has signed a letter of intent to sell its freight operator activity to a company which is 100% controlled by Jean-Louis Bottaro and his family. Bottaro founded and managed Setaf from 1968 to 2008. In this sale the cement carrier Endeavor remains the property of Bourbon, who continues to operate it within the framework of a service contract with the buyer. "The development of our Freight Operator activity requires investments that Bourbon would not be able to make for several years, due to the decisions announced in the Bourbon 2015 Leadership Strategy. This is why the sale to a professional in the Bulk field is the best solution for the development of this activity", said Jacques de Chateauvieux, CEO of Bourbon.

Bourbon announced that its subsidiary Setaf SA has signed a $545m sale agreement for 16 bulk carriers with U.S. group Genco Shipping and Trading Ltd. The closing is expected by end of July 2010. “As a shipowner, we are a pragmatic company, and we seized an opportunity. Following the Group strategy for its Bulk Division, Setaf is actively managing its shipping activity as a freight operator as well as a ship owner, to offer customized services and dedicated advanced ships to its customers” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon. “The contemplated sales will contribute significantly to the financing of the new “Bourbon 2015’ Leadership Strategy“.

Bourbon has announced its 2009 annual results. “The strength of our strategy is to invest in order to reduce clients’ costs,” stated Jacques de Chateauvieux, Chairman and Chief Executive Officer of Bourbon, “and putting into service new-generation innovative and high performance vessels, constructed in series at extremely competitive costs, sustains the growth in the Offshore Division operating income and provides a positive outlook for 2009. Revenue growth was essentially attributable to the strong increase in the Offshore Division revenues, which rose by 38.7%, and a resilient performance by the Bulk Division, which reported stable revenue growth of +2.9% at a constant exchange rate (12% year-on-year fall in the average annual BSI index).