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Expected Rise

HHI Profits Plummet 68%

Korea's Hyundai Heavy Industries expects to post a net profit of $39.8 million (44.4 billion won) in the first half, down 68.2 percent from the first half of 1999. The shipbuilding unit of the Hyundai Group expects the lower profits despite an expected rise in first-half sales to $2.69 billion (3 trillion won), up 8.9 percent. Net profits were shaved by investment losses stemming from the company's sale of stakes in Hyundai affiliates, even though its operating profits increased, he said.


Port Plans $105M Investment

Malaysia's Port of Tanjung Pelepas (PTP) intends to buy more than 400 million ringgit ($105 million) of equipment to handle an expected rise in container shipments. PTP's chief executive Mohd Sidik Shaik Osman was quoted by national Bernama news agency as saying he expected volume to triple to 150,000 TEUs by March after averaging 40,000 to 50,000 in the second-half of last year. PTP, a deep-sea port located at the south-western tip of Peninsular Malaysia


Teekay Tankers Misses 4Q Profit forecasts

Teekay Tankers vessel in Port Said Egypt  Courtesy Teekay Tankers

Teekay Tankers Ltd. reported adjusted net income attributable to its shareholders of $48.5 million, or $0.31 per share, for the quarter ended December 31, 2015, compared to $18.6 million, or $0.21 per share, for the same period in the prior year. The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.


Ship Operating Costs 2013 Held Steady Despite the Odds ...

Calculator credit Dominic Alves CCL

Judging by the findings of Drewry Maritime Research’s latest 'Ship Operating Costs Annual Review and Forecast' , ship operators were able to keep increases in operating costs in 2013 quite low – with increases in total costs typically ranging between 1.0-2.5% depending on the sector in question – despite 2013 being another difficult year for most. Commenting on the latest findings Nigel Gardiner, Managing Director


China and India Key Markets for Transportation

Image: Norton Rose Fulbright US LLP

 The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead Transport survey from global law firm Norton Rose Fulbright.   China and India are the most popular jurisdictions for investment, followed by the US, with growth through consolidation viewed as the best investment opportunity currently.    Harry Theochari, global head of transport at Norton Rose Fulbright


Chemical Shipping Freight Rates to Remain Firm

Graph: Drewry Shipping Consultants Limited

 Chemical tanker shipping freight rates are expected to remain firm over the medium term, thanks to rising production capacity in key exporting countries, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.   Since 2015, the US has started to export more and import less volume of liquid chemical products. US methanol capacity surged 77% in 2015 with the addition of around 3.5 million tonnes per year of new capacity. 


P&O: Economic Slump To Affect Future Revenues

P&O Nedlloyd said on Thursday that global economic slowdown was expected to affect future revenues, as the container shipping group posted a slight rise in second quarter operating profit. P&O Nedlloyd - a joint venture between Peninsular & Oriental Steam Navigation Company Plc (P&O) and Koninklijke Nedlloyd Groep - said operating profit for the quarter rose to $46 million from $44 million a year ago. Overall volumes rose four percent from last year


Zeebrugge Traffic Up 6.6%

Total traffic through Zeebrugge port rose by 6.6 percent to 26.67 million tons in the first nine months of 1999. At the end of the year it expected total traffic to rise to 35 million tons versus 33.4 million tons in 1998. "On the basis of these interim figures we can see that 1999 will be an absolute record year," port management said in a statement, noting that traffic rose by more than 20 percent over the past three years.


Malaysia Port Klang Sees 1999 Container Volume Up

Container volume at Port Klang, Malaysia's busiest port, is expected to rise to 2.1 million TEUs in 1999 from 1.82 million TEUs in 1998.


Improved Demand Easing Dry Bulk Vessel Oversupply

An impressive outlook for dry bulk demand coupled with a small orderbook of newbuilds Drewry

With contraction in vessel supply and healthy demand growth, the dry bulk shipping market is expected to recover from 2017 onwards, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. An impressive outlook for dry bulk demand coupled with a small orderbook of newbuilds as a percentage of the total fleet capacity will ensure a sustained recovery in the dry bulk market


CMA CGM Posts Higher Q1 Profits

Photo courtesy of CMA GCM

Container shipping line CMA CGM posted higher first-quarter profits, helped by a turnaround at recently acquired NOL, and gave an upbeat assessment for the current quarter in another sign that the shipping industry is emerging from a slump.  


Full Tanks & Tankers: A Stubborn Oil Glut Despite OPEC Cuts

© Andrei Pashkov / Adobe Stock

After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks.   Investors hailed the drawdowns as the beginning of the end of a two-year supply glut - raising hopes for


Safe Bulkers Expands Fleet

Photo: Safe Bulkers, Inc.

 Safe Bulkers, in its Q1 financial results annoucements said that with the latest addition of Pedhoulas Rose, its fleet has increased to 38 dry bulk vessels. In January 2017, the company took delivery of Pedhoulas Rose (Hull No. 1146), a 82,000 dwt, newbuild Kamsarmax class vessel. 


The New Offshore Reality

(Photo: Oyvind Hagen, Statoil)

As a mix of traditional heavyweights and start-ups fight to keep Norway’s offshore industry afloat, collectively they assess   Swedbank’s chief economist, Harald Andreassen, isn’t “too hopeful” about the long-term prospects for the oil price, but then again


Baltic Index Slides for 4th Straight Day

© jcfmorata / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth straight session on Thursday, pressured by lower panamax vessel rates. The overall index, which factors in rates for capesize, panamax


US Crude Sails to Asia as OPEC Weighs More Cuts

© sarojmornparn / Adobe Stock

Oil tankers carrying around 10 million barrels of U.S. crude are en route to Asia, according to shipping data and trade sources, as U.S. producers take advantage of favorable prices to ship to the region while OPEC ponders further supply cuts next week.  


Container Shipping Demand Remains Good: Hapag-Lloyd

Photo: Hapag-Lloyd

 In the medium term, demand for container shipping services should continue to rise in tandem with expected ongoing growth in global trading volume, says Hapag-Lloyd.   As a result, the container shipping industry’s medium-term growth prospects remain intact


Hapag-Lloyd Projects Higher FY '17 Earnings

File Image: CREDIT (port of Boston)

CEO sees closer supply-demand balance in shipping market; higher earnings forecasts upheld after wider net loss.   German container shipping firm Hapag-Lloyd on Friday said it should achieve higher earnings this year, based on expectations for a moderate increase in freight rates and cost


Baltic Index Dips on Weaker Smaller Vessel Demand

© Khomyakov / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, was marginally down on Wednesday as demand for smaller vessels eased. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Up On Higher Capesize Rates

© norinut / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, crawled up for the second straight session on higher rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Kvaerner Lifts 2017 Forecast

File Image (CREDIT: AdobeStock / (c) Nightman)

Kvaerner, the Norwegian builder of oil platforms, lifted its 2017 outlook on Monday as a slump in the oil sector eased with a year-on-year lift in crude prices.   Kvaerner's clients, oil companies, have reported forecast-beating earnings so far in this quarter


Meyer Turku Reports Larger 2016 Profit

Photo: Meyer Turku

Shipbuilder Meyer Turku reported a net profit of 25 million euros ($27.4 million), or 3.2 percent of revenue, in 2016, rising from 15 million euros ($16.5 million) in 2015.   The Finish shipyard, which specializes in cruise ship and large passenger vessels


d'Amico Bullish on Product Tankers

 d'Amico International Shipping believes that the supply-demand balance in the product tanker freight market is improving.   The key drivers that should affect the product tanker freight markets are (i) global oil supply (ii) the crude oil price and refinery margins (iii) demand for


Brazil Posts Record Trade Surplus for April

© Matyas Rehak / Adobe Stock

Brazil's trade surplus rose to $6.969 billion last month, government data showed on Monday, a record for a month of April as prices for main exports such as soy, iron ore and oil rose.   Exports totaled $17.686 billion and imports $10.717 billion


Op/Ed: Trump Signals New Day for Offshore Energy

© Lukasz Z / Adobe Stock

National Ocean Industries Association president Randall Luthi weighs in on President Trump’s Executive Order on offshore energy. It’s a new day and a new attitude for American energy. The National Ocean Industries Association (NOIA) applauds President Donald Trump’s Executive






 
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