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Transportation Arm News

16 Jun 2017

Asia Tankers-VLCC Rates Plateau, Could Edge Higher

Floating storage, West Africa cargoes support rates; further storage charters may push rates to W60. Freight rates for very large crude carriers (VLCCs), which were supported this week by a shift to using older vessels for floating oil storage, have plateaued at current levels but could nudge higher on further storage plays, brokers said on Friday. Rates from the Middle East to Asia are currently around 50 on the Worldscale measure and W55 from West Africa to Asia depending on vessel age and actual destination, brokers said. "Rates haven't peaked, they have plateaued," said Ashok Sharma, managing director of shipbroker BRS Baxi in Singapore. "Depending how the storage play plays out rates could touch W60 - not next week.

13 Aug 2009

SAM Taihang to Equip Brazilian Tankers

SAM Taihang Electronics, SAM Electronics’ Chinese subsidiary in Taizhou, Jiangsu Province, has been awarded a contract for the supply of comprehensive automation and electrical systems to be installed on four 48,300 dwt product tankers being built at the Estaleiro Maua Petro-Um yard in Rio de Janeiro for Transpetro, the logistics and transportation arm of the Brazilian state oil company, Petrobas. Due for delivery in 2010-11, the vessels form part of Transpetro’s major fleet renewal programme involving construction of over 40 newbuildings, Promef. Systems commissioned for each ship comprise a 15-panel 440V/230V main switchboard with integral power management system GPM 500 and diesel protection functions…

25 Apr 2007

APL Finalizes Ship Charter Deal

APL, the container transportation arm of Neptune Orient Lines, has signed a charter agreement for five new post-Panamax container vessels. The ships will each have a nominal capacity of 7,000 TEU (twenty-foot equivalent unit) and will be deployed in the Transpacific trade from 2009. The vessels are being built at Hyundai Heavy Industries in South Korea and will be chartered for five years from German owners, Bernhard Schulte.

29 Mar 2007

Limited Brands Honors MOL

Limited Logistic Services, the transportation arm of specialty retailer, Limited Brands, has presented MOL its ocean carrier 2006 Distinguished Service Provider award. Limited Brands made the announcement on January 29, 2007. Limited Brands, the internationally recognized parent company of Victoria’s Secret, Express, Bath & Body Works, and Limited Stores, owns and operates more than 4,000 stores in the United States. The Distinguished Service Provider award is presented annually to the ocean carrier whose supply chain innovations best support the achievement of Limited Brands’ goals.

29 Dec 2006

Aboitiz Transport Sells 2 Ships

Aboitiz Transport System Corp., the transportation arm of Cebu-based conglomerate Aboitiz Equity Ventures Inc., is selling two vessels for $39m, with the first already delivered to the buyer, Pacific Asia Shipping Co. Ltd., a Marshall Islands-registered company. The company, in a disclosure to the stock exchange, said the delivery of the vessel formed part of the memorandum of agreement it entered with Pacific Asia Shipping regarding the sale of SuperFerry 17 and SuperFerry 18. The delivery of the second vessel is scheduled in the first quarter of 2007, the company told the stock exchange. To ensure continued operations, the company has brought back its SuperFerry 19 vessel it chartered out earlier this year.

05 Oct 1999

NOL Shares Soar On Management Change News

Shares of shipping and logistics group Neptune Orient Lines Ltd. (NOL) surged almost 10% on optimism over recent management changes, dealers said on Tuesday. Late September, NOL said it had hired more senior executives from Sea-Land Services as senior officals for its container transportation arm, APL. The move were seen as positive and reinforced the shipping group's commitment to grow its European and North American presence. Flemming Jacobs is NOL's new chief executive officer.

11 Oct 1999

NOL Appoints Two Senior Managers

Neptune Orient Lines Ltd, (NOL) has hired two veteran officials at Sea-Land Service as senior executives in its container transportation arm, APL. Edward W. Aldridge, currently Senior Vice President for North America at Sea-Land will become President of APL's Americas Region. Daniel J. McHugh, currently Vice President of the Americas Division at Sea-Land, will become President of APL's Asia-Middle East Region. Tim Rhein, current President and CEO of APL Limited, will continue at the company in a broader capacity to be announced, according to Flemming R. Jacobs, President and Chief Executive Officer of NOL. Aldridge and McHugh round out the team of three senior regional executives at APL reporting to Jacobs.

11 Oct 1999

NOL Management Changes Causes Shares Rally

Shares of shipping and logistics group Neptune Orient Lines Ltd. (NOL) surged almost 10 percent last Tuesday on optimism over recent management changes, dealers said. "We are buying on the back of increasing confidence in the market, higher assurance that the Fed will not be doing anything drastic and hope that NOL's new management would bring positive changes," said one dealer. In late September, NOL announced the hiring of more senior executives from Sea-Land Services as senior officials for its container transportation arm, APL, including Fleming Jacobs as the new chief executive officer. The moves were seen as positive and reinforced the shipping group's commitment to grow its European and North American presence.