Tesco News

More than 1,900 workers at Britain's biggest container port, Felixstowe, have begun eight days of strike action that will cause disruption to trade and supply chains.The staff at Felixstowe, on the east coast of England, are taking industrial action in a dispute over pay, becoming the latest workers to strike in Britain as unions demand higher wages for members facing a cost-of-living crisis. read moreBelow is a look at Felixstowe's operations and the possible impact from the strike:How big is the port?About 48% of all containers brought into the UK are transported through the Felixstowe port…

British over-50s holidays group Saga Plc said on Monday it would likely resume its cruises on June 27, encouraged by high demand for tours despite repeated lockdowns and echoing similar projections from other cruise operators.A year after several cruise ships were hit by major coronavirus outbreaks, cruise lines including Royal Caribbean Group and Carnival Corp have been pushing ahead with plans to resume cruises this summer, especially as large numbers of Americans get vaccinated.As demand for tours picks up…

Peel Ports announced that it has secured 50 advocates for its Cargo200 initiative and is urging other shippers in the North-west to add their weight to the campaign. Launched in May, Peel Ports called for importers and exporters whose goods began or ended their journey in the north of the UK to switch current delivery of ocean freight from south-east ports to the centrally-located Port of Liverpool. The initiative aims to cut freight mileage by 200 million miles over the next five years. In addition to achieving significant carbon reduction, the company also estimates that the move could save shippers up to £400 per container in transportation costs by delivering to the heartland of the UK.

Peel Ports has today (Thursday 19 November) announced that it has secured 50 advocates for its Cargo200 initiative and is urging other shippers in the North-west to add their weight to the campaign. Launched in May, Peel Ports called for importers and exporters whose goods began or ended their journey in the north of the UK to switch current delivery of ocean freight from south-east ports to the centrally-located Port of Liverpool. The initiative aims to cut freight mileage by 200 million miles over the next five years. In addition to achieving significant carbon reduction, the company also estimates that the move could save shippers up to £400 per container in transportation costs by delivering to the heartland of the UK.

Glencore's debt and equity plunged on Monday on the back of a damning analyst note, with only the commodity firm's shortest bonds maturing this year managing to resist the sell-off. But the outlook for the debt-laden firm does not appear to be as bleak as the headline figures suggest. Glencore still has access to billions of dollars of undrawn bank loans and, with the company teetering on the edge of losing its investment grade rating, some investors think dropping into junk territory will spark a rally in the issuer's debt. While Angle American's five-year CDS reacted by widening 10bp to 423bp, the drama lay in Glencore's CDS moves. The firm's five-year CDS leapt by 214bp to 745bp, according to CreditViews. Those swaps were trading at 368bp in early September.

Tomorrow 23rd June international law firm Hill Dickinson LLP will be holding  its UK Ports Conference focusing on ‘The Future of UK Ports: changing regulation, shipping trend updates and new opportunities in the supply chain’. The 7th Annual UK Ports Conference will allow senior representatives from across the ports, shipping and maritime sector to network and discuss policy updates, shipping trends and the latest logistics and supply chain guidance. The day will also look at how to approach port development and funding and hear from UK ports on how ports can support the economic development of the local area and the wider UK. Another discussion point will be on EU state aid and the key risk factors are for UK ports.

www.SaveOurSeafarers.com (SOS), the international anti-piracy initiative backed by 30 of the world’s largest maritime organisations, is to lobby support from business leaders to increase international pressure on Governments to take firmer action against Somali piracy. This violence and hostage-taking is costing the world economy an estimated $12 billion a year. SOS SaveOurSeafarers Campaign Chair Giles Heimann, said: “These criminal gangs are holding the world economy to ransom.

PD Ports has announced it has reached another major milestone at Teesport – handling its 150,000 container through its container terminals for the first time in history within a calendar year. Frans Calje, PD Ports MD Unitised, said: “To have reached this record number from a steady throughput of around 80,000 containers only some two and a half years ago is a testimony to the success of our portcentric logistics strategy and the hard work that went into making it a success. This latest achievement surpasses 2009’s container handling milestone at Teesport…

PD Ports has received Environmental Impact Assessment (EIA) consent from the Marine and Fisheries Agency (MFA) in relation to the QEII berth redevelopment at Teesport. This formal consent together with its associated licences enables PD Ports to proceed with the construction of the new 260 metre long berth, which is an integral part of MGT Power’s Tees Renewable Energy Plant development at the Port. The new berth will accommodate vessels up to 240 metres long and 38 metres wide…

Energy Cranes International Limited, provider of offshore lifting and handling services which includes Sparrows Offshore, Aberdeen Hydraulics and Baricon Systems, announced the appointment of Doug Sedge as chief executive officer (CEO). John Jordan, the incumbent CEO, is standing down from the role and will be leaving the group. Doug Sedge is well known in the oilfield business community, where he was CEO of RBG Group from 2005 to 2008. His most recent assignment was in a European role with Canadian offshore technology group…

The DeepFlex Board of Directors has announced the appointment of Michael C. Kearney as its President & Chief Executive Officer and his election to the Board of Directors, replacing W. George Coyle. Kearney joined DeepFlex in 2008 as Executive Vice President & Chief Financial Officer and has played an integral role in the company's growth and success. Prior to DeepFlex, he served as CFO of Tesco Corporation and CFO of Hydril Company. At Hydril, Mr. Kearney played an instrumental role in the growth and increased profitability of the company which led to a successful IPO. Kearney graduated with honors from Texas A&M University receiving a Bachelor of Business Administration in Finance and then obtained a Master's degree in Accountancy from the University of Houston.

PD Ports has completed the first phase of its latest expansion programme to further develop its existing container terminal handling facilities at Teesport on the North East coast. This $3.2m investment involved the relocation of the Port’s existing Vauxhall cars import compound to make some 10 acres of additional land available, directly behind the existing TCT2 container terminal facilities. This land has been freed up to accommodate an increase in container volumes handled at Teesport.

Containerships, a shortsea carrier, has chosen North East based Teesport, owned by PD Ports, as its strategic freight hub for Northern Europe. The shipping line, which acquired Mediterranean short-sea specialist Contaz in March, has chosen to use Teesport, the UK’s third largest port by volume, to link its new Mediterranean services with its traditional Baltic routes. Containerships, a long-term customer of PD Ports, has chosen for the first time to direct the Contaz traffic through Teesport. Initially there will be two ships on this route, operating a 12/13 day frequency, meaning that Containerships will be making five calls a week in total at Teesport.

One of the conclusions of the Shippers’ Voice seminar discussing Portcentric Logistics Solutions at the Multimodal 2009 exhibition was that now maybe even the best time for shippers to reassess their logistics patterns and structure. Nick Lindsay, General Manager LM Logistics Group, told delegates that “this is the time to think as far outside the box as you want and you’ll find the solution.” His Felixstowe-based company, originally built on container haulage, is now offering direct small parcel deliveries into retailers as well as home delivery of furniture for customers. “The name of the game is to find ways and means to cut costs,” said Vincent De Saedeleer, Vice President of the Port of Zeebrugge Authority.

PD Ports senior representatives, including David Robinson, Chief Executive Officer, have returned to PD Ports’ Teesport operations, following a successful 14-day tour of the Far East. The aim of the tour, which included visits to Taipei, Singapore, Malaysia, Hong Kong, South Korea and Dubai, was to promote greater use of Teesport and stimulate interest for new shipping lines to call at the Port direct. Teesport currently has frequent callings from eight container shipping lines and carriers such as Maersk, CMA CGM, K Line and MSC. PD Ports’ Far East schedule included meetings with several leading shipping lines and logistics companies to raise the awareness of the Port’s $444m deep sea container terminal development, known as The Northern Gateway (NGCT).

One of the world’s least known boat building areas is in and around the city of Samarinda on the Mahakam River in the province of East Kalimantan on the Indonesian side of the Island of Borneo. While some yards are building a dozen and more boats at a time in modern facilities, the tradition of building on the riverbank is alive and well. One such builder is Mr. Suwandi who, in mid-February, was preparing to launch a 28 by 8.1-meter tug for Mr. Syarifuddin who operates a stone quary at Palu on Sulawesi Island. The tug, registered in Samarinda and named Syarasd I, is powered by a pair of in-line six-cylinder Cummins KTA19 engines each generating 600 hp and turning propellers manufactured by Tesco in Jakarta through Twin Disc MG5321DC gears with 6.39:1 ratios. Pt.

In the last six months, the shipping industry has seen the marine B2B market grow from nothing into a highly competitive race between e-commerce ventures to attract major shipowner/shipmanager support and investment capital. The shipping world has suddenly come alive to the world of e-commerce. Within the last few months, the industry has grown from a few providers of marine e-commerce Internet services to more than 70 e-commerce portals targeting different market segments - and more portals and initiatives are launched every day. Shipping companies are now recognizing that e-commerce is no longer a 'nice-to-have' option. For shipping companies battered by poor annual earnings, embracing information and communication technology may not be a matter of choice, but a matter of survival.

Canadian oil service firm Tesco Corp. sold its new-technology drilling services division to Houston-based Weatherford International Inc. for $33 million. Tesco officials said the company sold its specialized underbalanced drilling assets to the major U.S. oil field firm so it could focus on its main businesses, which include its top-drive equipment used to power drilling rigs and casing drilling technology, which speeds up the drilling of oil and gas wells. With underbalanced technology, the pressure of the drilling fluid is kept below the pressure in the oil or gas reservoir to aid the flow of the hydrocarbons to the surface. Weatherford said the assets dealt include eight drilling units, plus nitrogen-generating and pressure-control units as well as other equipment.