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Groups Say NZ Port Merger will Cut Costs

Reports said that shipping and business groups say a proposed merger of New Zealand's largest ports will cut costs. The Ports of Auckland and Ports of Tauranga say they are in advanced discussions about working together, making savings for exporters through a more efficient supply chain. The Employers' & Manufacturers' Association agrees the merger has the potential to reduce costs. The association says they could keep the land but publicly float the combined company, freeing ratepayers' money for investment in other areas. The talks come as Danish shipping company Maersk reviews the option of dealing with a single port in the North and South Islands. Source: Radio NZ


Freight Rate Hikes Benefit South Korean Shipping Firms

South Korea’s major shipping companies benefited in 1999 from freight rate hikes and lower foreign debt service costs resulting from the won’s surge against the dollar, analysts said. However, they said, expectations of rising shipping capacity following more deliveries of new ships would weigh down the growth of revenues for shipping firms this year. Container shipping rates rose about six percent on average last year, which is in line with the country’s recovering exports, one analyst said


Tanker Groups To Pool Vessel Marketing

Two major clean oil product tanker operators will reportedly form a vessel pool to market each other's ships on opposite sides of the world. Japan's NYK Line and International Product Tankers Ltd. (IPC), a joint venture company formed by OMI Corp. and Osprey Maritime Ltd., said the agreement would cut costs and improve services. Under the agreement, IPC will market NYK's fleet of product tankers to European and U.S. customers when positioned in European or Atlantic waters


New Paintjob for Sullom Voe Tugs

The five bright red tugs operating at the Sullom Voe Terminal are soon to display the blue and white corporate colors of their new owner. Shetland Towage, a company wholly owned by the Shetland Charitable Trust, was incorporated into the Shetland Islands Council's ports and harbor operation on February 10, in a bid to streamline operations at the harbor and to cut costs. The first of the tugs is expected to be back in the isles from dry-docking in late June


Halter Marine Confirms Merger Talks

Shipbuilder Halter Marine Group Inc. confirmed it is in talks with an oilfield service company about a possible stock-for-stock merger. The company, which in January announced a sweeping restructuring to cut costs, said it cannot assure the talks will lead to a transaction. It also said it cannot guarantee a deal, if any, would represent a premium over current market prices. Halter Marine, which also builds offshore drilling rigs and engineered products serving the offshore energy industry


Pentagon Expected To OK NNS Deal

The Pentagon is widely expected to clear the proposed $2.1 billion merger between the two remaining U.S. builders of nuclear submarines and aircraft carriers, eliminating prospects of any future competition between former rivals. Defense Department officials recognize the peculiarities of the situation faced by General Dynamics Corp. and Newport News Shipbuilding Inc., according to antitrust lawyers, industry consultants and Wall Street analysts. With only one major customer -- the U.S


GAC EnvironHull Unveils Fuel Savings Calculator

GAC EnvironHull Photo GAC

Ship owners and operators can now compare fuel cost savings reaped by hull cleaning with GAC EnvironHull’s online fuel savings calculator. A foul-free hull offers the benefits of significantly enhanced fuel efficiency and lower operating costs by reducing resistance in the water. A clean ship sails smoother through the water, gives a greener and more sustainable solution and offers energy savings of up to 10% of fuel.


Petrobras’ Could Cut Logistics Costs by R$1 bi

  One of a series of management improvement measures adopted by Petrobras in the last two years, the Logistics Infrastructure Optimization Program (Infralog) should generate approximately R$1.8 billion (US$719 million) in savings for the company from the time it was created (November 2012) until the end of this year. By 2013, the program had already cut costs by around R$800 million. Petrobras’ target is to save R$4 billion (US$1


Short-Term Perils of Lower Oil Prices: DW Monday

Oil tanks: File image

At present we are seeing lower oil prices as a function of softer demand growth in both Europe and China combined with recent output increases from OPEC, particularly Libya, together with the ongoing surge in US production, notes Douglas-Westwood in the latest 'DW Monday'. In the short-term, supply could start to be taken out of the market quite quickly if lower price levels are sustained – we have earlier noted that returns for most E&P companies have been eroded by


Cummins Announces 2002 Outlook

Cummins Inc. today released its expectation for improved profitability despite essentially flat revenues for 2002. Cummins Chairman and CEO, Tim Solso, said, "continuing efforts to reduce costs will enable Cummins to achieve a profitability improvement over 2001 with little to no improvement in revenue." During the October 11th teleconference on third quarter earnings Solso noted that rapid market changes in the U.S


Samsung Heavy to Cut Its Workforce

File Photo: Samsung Heavy Industries

 South Korea’s shipbuilder Samsung Heavy Industries (SHI) is looking to further cut its workforce,  and have employees return part of their salaries in order to cut costs, according to Yonhap News Agency.   SHI unveiled a self-restructuring program that centers on cutting


Japan's Top 3 Shippers Sail to Profit in Q1

File Photo: Nippon Yusen Kaisha (NYK Line)

 The healthy international trade and cost cutting measures augurs well for Japan's to three marine shippers -  Nippon Yusen, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha - reported Nikkei.   The report said that the three companies are expected to post a group pretax profit for


ICTSI Subic on Growth Path

Photo:  ICTSI

 International Container Terminal Services, Inc.’s (ICTSI) new Container Freight Station (CFS) at the Subic Bay Freeport is at the forefront of ensuring the faster movement of goods in the Northern and Central Luzon markets.   


DNV GL Rolls Out New Sesam

Photo: DNV GL

 With the new release of Sesam software for structural engineering and analysis, DNV GL is showing the results of ramped-up focus on cutting costs and boosting efficiency for customers. One of the key targets is reduction of tedious work.  


Maersk Says It's Been Cyber Attacked

File photo: Maersk Line

Shipping giant A.P. Moller-Maersk, which handles one out of seven containers shipped globally, said the Petya cyber attack had caused outages at its computer systems across the world on Tuesday.   The attack came as computer servers across Europe and in India were hit by a major ransomware


Mintra Launches OCS HR as a Cloud Service

Geir Kalleberg (Photo: Mintra Group)

 Already with a solid foothold within the Norwegian maritime sector, OCS HR has now been launched by Mintra Group as a cloud-based service (SaaS – Software as a Service). This means new advantages for customers and makes the software solution immediately available internationally to


Hapag-Lloyd Expects Post-Merger Job Cuts

Photo: Hapag-Lloyd

German shipping company Hapag-Lloyd confirmed on Wednesday that it is looking to cut up to 12 percent of its almost 11,000 land-based workforce after completing its merger with Arab peer UASC last week.   A spokesman at Hapag-Lloyd's Hamburg headquarters said the job cuts would be made over


Dover Launches Windrock Enterprise

Photo supplied by Dover Corporation

Dover Energy Automation announced the launch of a new enterprise solution that has the power to simplify a multitude of challenges that executives face while evaluating equipment reliability and efficiency across the enterprise. The press statement says that the key value of Windrock Enterprise


Seatools Debuts New Dredging Monitoring Systems

Photo: Seatools

Seatools has introduced the fourth-generation DipMate backhoe dredging monitoring and control systems, with an upgrade that encompasses two models: Essential and Pro.   Seatools described Essential as a cost-competitive visualization system that contains all essentials for efficient backhoe


Yemen War Adds to Shipping Fears in Horn of Africa

Photo: EU NAVFOR

Yemen's worsening conflict is contributing to a spike in piracy in the region, with Somali pirates taking advantage of a reduced international naval presence and more readily available weaponry to carry out attacks. "The regional instability caused by Yemen is important


OSM Sees Offshore Activity Uptick

Paolo Croatto (Photo: OSM)

OSM: eight offshore vessels taken over and more than 200 crew positions added since January 2017   The offshore supply industry is largely in turmoil, staring down issues with overcapacity, lay-ups, layoffs, industry restructuring and asset speculation happening on a broad scale.  


New Cutmaster 60i Plasma Cutter

Photo: Thermal Dynamics

Thermal Dynamics, an ESAB brand, announced that its new Cutmaster 60i handheld air plasma cutting system is now available for purchase through traditional and online welding distribution outlets. Cutmaster 60i weighs 37 lbs. and provides a rated output of 7.6 kW at 50 percent duty cycle at 60A


KVH Debuts Connectivity as a Service Offering

KVH Industries, Inc. has launched a new all-inclusive Connectivity as a Service (CaaS) offering for the maritime industry, AgilePlans by KVH.    For a single monthly fee, AgilePlans by KVH brings an advanced satellite communications solution onboard without a costly capital expenditure


VesselMan, Kongsberg Digital to Collaborate on Digital Platform

Kongsberg Digital and VesselMan have entered into a partnership agreement which makes VesselMan part of Kongsberg’s digital ecosystem for the Kognifai platform. Matthew Duke, VP Digital Platform at Kongsberg Digital points out that dry-docking and retrofitting constitute a considerable


Korean Shipyards Cut Costs to Boost Profit

Photo: Hyundai Heavy Industries

 South Korea's Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) said that they will strive to boost their profitability via increased orders and continued cost-cutting measures, reports Yonhap.   According to Park Dae-young, president of SHI






 
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