Eukor News

Wallenius Wilhelmsen, the world’s largest RoRo vessel operator, has signed a multi-year shipping contract with South Korea’s construction machinery company and taken delivery of two vessels.Through its 80% owned subsidiary EUKOR, Wallenius Wilhelmsen welcomed the 2009-built, 6,600 CEU Morning Camilla vessel following the declaration of a purchase option under the long-term charter-in agreement.The purchase price is $30 million, well below the assessed charter-free valuation of around $70 million…

VesselsValue's head cargo analyst, Olivia Watkins, has compiled a list of the world's top ship owning nations ranked by total fleet value.ChinaChina has moved up from second in January to firs place this time, owning a total of $191 billion in assets.China owns the largest number of containerships and, consequently, the recent surge in rates and values has moved them up the ranks to top spot in terms of fleet value. The increase in rates has also prompted an ordering spree across the container sector, as owners’ confidence in the market exploded.

Maritime cyber security specialist Naval Dome has signed a contract with Piraeus-based Stamco Ship Management to install its maritime cyber defense system aboard 55 Pure Car and Truck Carriers (PCTC).Stamco Ship Management provides technical and commercial ship management services to various companies like NYK, MOL, K-Line, China Shipping, Höegh Autoliners, WWL, Eukor and Glovis.Naval Dome will install the security system onboard the vessels’ bridge, navigation, communication and machinery control systems to deliver maximum…

The European Commission (EC) said Wednesday that it had fined four maritime car carriers 395 million euros (U.S. $486.5 million). Four shipping companies – CSAV, K Line, NYK and WWL-Eukor – have been fined by the EC for collusion in operating a cartel on the car carrier trades, in breach of EU antitrust rules. All companies acknowledged their involvement in the cartels and agreed to settle the cases. Commissioner Margrethe Vestager, in charge of competition policy said:"The Commission has sanctioned several companies for colluding in the maritime transport of cars and the supply of car parts.The three separate decisions taken today show that we will not tolerate anticompetitive behaviouraffecting European consumers and industries.

EU antitrust regulators are set to fine Nippon Yusen KK (NYK) and several other Japanese shippers as well as Norwegian Wallenius Wilhelmsen Logistics ASA (WWL) in the coming weeks for rigging bids for shipping cars, according to people with knowledge of the matter. The EU sanctions follow a near six-year investigation which started with dawn raids by the European Commission in September 2012 in coordination with Japanese and U.S. antitrust authorities. Competition regulators around…

The automaker wants the Federal Maritime Commission to order payments from Wallenius Wilhelmsen Logistics AS and its sister company EUKOR Car Carriers Inc, Nippon Yusen Kabushiki Kaisha, Mitsui O.S.K. Lines Ltd, Compania Sud Americana de Vapores, Hoegh Autoliners AS and affiliated companies. Fiat Chrysler filed its complaint on Oct. 17. All but one of the shippers sued by Fiat Chrysler pleaded guilty and admitted to price fixing as part of a Justice Department investigation. The remaining firm, Hoegh, agreed last month to plead guilty and pay a $21 million criminal fine.

South Korea's antitrust watchdog Fair Trade Commission (FTC)  has imposed a combined 43 billion won (US$37.8 million) in fines on nine global auto shipping companies for bid rigging and price fixing, reported Yonhap. According to the FTC, the nine car shipping companies colluded between August 2002 and September 2012 in global biddings offered by car manufacturers that they should “respect” existing contracts of one another so as not to compete. The nine car shipping companies are Japan’s Nippon Yusen Kabushiki Kaisha, Mitsui O.S.K. Lines, Kawasaki Kisen Kaisha, Nissan Motor Car Carrier and Eastern Car Liner, Norway’s Wallenius Wilhelmsen Logistics and Hoegh Autoliners, Chile’s Compania Sudamericana de Vapores S.A. and Korea’s Eukor Car Carriers.

2016 ended for Wilh. Wilhelmsen with an improvement in transported volumes, which had a positive effect on total income for the fourth quarter. Adjusted for non-recurring items, WWASA also recorded an uplift in operating profit. Rate pressure continues, but the group expects soft volume recovery in the first half of 2017. Total income for the fourth quarter was USD 450 million, up 8% from USD 418 million in the third quarter. The operating profit ended at USD 4 million due to non-recurring items, down from USD 32 million in the previous quarter. “The third quarter, which is usually negatively affected by seasonality, was impacted additionally by comprehensive strikes in Korea.

Commissioner William P. Doyle Votes to reject joint contracting authority for Ro/Ro foreign carriers to negotiate collectively for U.S.-Flag tug services. Doyle's Statement, shown below, says new rules go beyond the scope of the Shipping Act and shipping practices harmful to U.S. Today, I voted to disapprove the roll-on roll-off (Ro/Ro) WLL/Eukor/ARC/Glovis Cooperative Working Agreement amendment involving Wallenius Wilhelmsen Logistics AS (WWL), Eukor Car Carriers Inc. (Eukor), American Roll-on Roll-off Carrier LLC (ARC), and Hyundai Glovis Co. Ltd. (Glovis) (collectively Parties). This amendment filed with the Federal Maritime Commission seeks to broaden the authority of the Parties to jointly solicit bids for contracts covering the provision of tug services…

Wilhelmsen and Wallenius have signed an agreement leading to a new ownership structure for their jointly owned investments in Wallenius Wilhelmsen Logistics, EUKOR Car Carriers and American Roll on Roll off Carrier. Signing the transaction agreement is an important milestone in the merger as announced in September,” says Jan Eyvin Wang, president and CEO of Wilh. Wilhelmsen ASA. “The final go ahead is pending approval from competition authorities and the respective entities’ shareholders.” Wilh. Wilhelmsen ASA will issue shares to Wallenius Lines in exchange for their shares of the currently joint investments. At the completion of the merger, Wilhelmsen and Wallenius will hold 37.8% and 48% of the new entity to be named Wallenius Wilhelmsen Logistics ASA.

* The Norwegian Wilhelmsen family sees no change in the planned ownership structure in Wilh. * The current plan is that Wilh. * "I don't think their plan is to sell shares (from the planned 40 percent). There has been no indication on that. We both have good long term systems and we want to the see the effects of this in the merger and to improve the constellation", chief executive officer Thomas Wilhelmsen in Wilh.

Wilhelmsen and Wallenius have signed a letter of intent to establish a new ownership structure for their jointly owned investments. The new entity, Wallenius Wilhelmsen Logistics ASA, will form a more efficient management structure and enable further synergies between the joint ventures. “The markets in which the jointly owned entities operate are going through rapid change and require a more agile and efficient business model. In addition to establishing a common owner and governance structure, the proposed merger is expected to enable synergies between USD 50-100 million by combining the assets and harvesting economies of scale, including more optimal tonnage planning…

French port Marseille Fos handled 20.17 million metric tons of cargo from January to March in a near identical repeat of last year’s first-quarter result. General cargo rose 1 percent to 4.49MT led by container growth at Fos, which gained 3 percent for 263,038 teu. However, total box volumes slipped 3 percent to 304,664 teu – and by 1 percent to 2.93MT in tonnage terms - after a difficult start to the year at Marseille, where container traffic fell 27 percent to 41,626 teu. Added to conventional trades dropping 8 percent on 0.56MT…

China has fined seven shipping companies, including Japan's Kawasaki Kisen Kaisha, a total of 407 million yuan ($62.85 million) for price-fixing, the country's state economic planner said in a statement on Monday. The National Development and Reform Commission (NDRC) said the companies colluded to raise rates on shipments of cars, trucks, and construction machinery across five shipping routes, including between China and Europe, for at least four years, violating the country's anti-monopoly laws. The other six companies fined were Japan's Mitsui OSK Lines and Eastern Car Liner Ltd., South Korea's Eukor Car Carriers, Norway's Wallenius Wilhelmsen Logistics AS, Chile's Compania Sud Americana de Vapores, and a separate shipping subsidiary within CSAV, the NDRC said.

China is going after container shipping lines for freight rate abuses. The Chinese Ministry of Transport has fined a total of $65 million on price-fixing charges. The National Development and Reform Commission said in a statement that the imposed fines are equivalent to 4% to 9% of their international shipping sales “concerning transport to and from China". The investigation lasted for more than a year, the NDRC said. Japan's Nippon Yusen KK, Mitsui OSK lines, Kawasaki Kisen Kaisha and Eastern Car Liner, Korea's Eukor Car Carriers, Norway's Wallenius Wilhelmsen Logistics, Chile's Cia Sud Americana de Vapores and its shipping line were the eight indicted after a year-long investigation.

Inmarsat, the leading provider of global mobile satellite communications services and Intellian, a global leader in satellite communication antenna systems, have announced a significant deal with EUKOR Car Carriers. The deal will enable EUKOR, one of the world’s largest shipping companies specialising in the transportation of cars and other rolling cargo, to take advantage of the latest technology offered by Intellian and Inmarsat’s new high-speed broadband Global Xpress (GX) network. EUKOR has selected Intellian’s latest GX100 terminals to equip its 27 vessels with regional connectivity powered by GX in the Indian Ocean Region. Once all three GX satellites are live and operational EUKOR will be able to harness the Fleet Xpress service on a global basis.

The Trident Alliance, a shipping industry initiative for enforcement of maritime sulphur regulations, has today been formally launched. The Trident Alliance is a coalition of shipowners and operators who share a common interest in robust enforcement of maritime sulphur regulation and are willing to collaborate to help bring it about. The Alliance will partner with other groups who share its interest in robust enforcement, to support this objective. The Trident Alliance welcomes all shipping companies that subscribe to the above. The current membership list includes: American Roll-on Roll-off Carrier (ARC), EUKOR Car Carriers Inc., Höegh Autoliners, J. Lauritzen, Maersk, Rickmers-Linie, Stena, Torvald Klaveness, UECC, Unifeeder and Wallenius Wilhelmsen Logistics.

Inchcape Shipping Services (ISS), a maritime services provider, has received a global award for best agency from EUKOR, a shipping company specializing in car transportation and other rolling cargo. The award for ‘Best in Vessel Operation’ to ISS Philadelphia followed a full supplier evaluation and was awarded for its quality of port captain service, operations, logistics and outstanding contribution to EUKOR. ISS provides agency services for EUKOR across the U.S. Gulf, East Coast and Canada. For the U.S.

Wilh. Wilhelmsen Holding shipping segment under investigation by competition authorities. Wilh. "In addition, Wilh. Wilhelmsen ASA's (owned 72.7% by WWH) partly owned companies Wallenius Wilhelmsen Logistics and EUKOR Car Carriers have been visited by Japanese authorities as part of an investigation related to the Japan Anti Monopoly Act. Further, WWL has received requests for information from the EU Commission and both WWL and EUKOR have received requests for information from federal US authorities and the Competition Bureau Canada. The purpose of these requests is to ascertain whether  
there is evidence of any infringement of competition law related to possible price cooperation between carriers and allocation of customers.

APS Stevedoring LLC, an auto and general/breakbulk cargo stevedoring company headquartered in Long Beach, Calif., recently added to its terminal and stevedoring locations with Hyundai Motor’s Portland, Oregon, Terminal 6 - Berth 601 auto terminal. On May 2, 2012 APS discharged 976 imported Hyundai units and loaded back 179 Ford exports to Eukor Car Carriers’ M/V Ryujin. The two major car carriers at this facility are Eukor Car Carriers Inc and Glovis. Additionally, K Line and MOL have occasional space charters. Current auto makers include Hyundai for imports, with an estimated annual volume of 80,000 units, and Ford for export, with other possible export manufacturers to come. Average units per arrival are 1,500.

The new freight agreement runs until 2016, with an intention for a further four year extension. Under the new agreement, EUKOR will lift 100% of the volumes out of Korea until 2010. After this, EUKOR will carry the majority of the volume.

Expanding the Suezmax fleet and greater involvement in carrying oil products are among the ambitions being pursued by theTeekay Tanker Services (TTS) business unit of Teekay. "At the same time, we're working to expand our strong Aframax position," said TTS Vice President Peder Farmen, who heads the product transport sector of TTS from the group's Norwegian office in Stavanger. Teekay's conventional shipping operations in Norway have further diversified the company's fleet, the majority of which is comprised of Aframax vessels. Since Teekay's acquisitions of Bona Shipholding in 1999, Ugland Nordic Shipping in 2001 and Navion in 2002, Teekay has established itself as a leading tanker operator in the North Sea and Atlantic, in addition to the Pacific.

Port Canaveral’s branding campaign is among six won by the Port in the American Association of Port Authorities (AAPA) 2007 Communications Award Program. The annual competition has recognized excellence in port communications since 1966. This year’s competition attracted 194 entries from 38 ports. Port Canaveral also received awards for it’s ‘Cruise to Your Cruise’ ad; ‘Eukor Arrival’ cargo event; Employee Brand Training Program; Port Canaveral magazine; and Port Canaveral website.