Marine link
 

Freight Carrier

Kintetsu Pays $1.2bln for APL Logistics

Image: Kintetsu World Express

 Japanese freight carrier Kintetsu World Express Inc is buying Singapore's APL Logistics for US$1.2 billion, paying a higher than anticipated price for an overseas deal at a time of slow domestic growth.  Tokyo-headquartered Kintetsu Express said on Tuesday that it agreed to pay S$1.6 billion to buy all of APL's shares from its parent, Neptune Orient Lines (NOL). Its own capital and bank loans will be used to fund the deal, it said.    The sale of APL Logistics to the Japanese company will enable NOL to concentrate on its core but troubled container-shipping business. The Singapore Company said the deal will “unlock the value of the logistics business for its shareholders and strengthen the financial position of the NOL Group”.   NOL said the sale price is 15 times APL Logistics’ EBITDA [earnings before interest, tax, depreciation and amortization] of $80m last year, with KWE winning a competitive auction for the unit with the highest bid price – and reportedly beating competition from the likes of XPO Logistics and Korean company CJ Express – and one that is considerably above the current market average for acquisitions.   The expected APL Logistics deal value is far higher than the US$750 million to US$900 million range that sources said Singapore-based NOL had been looking for


TTS Worldwide is OL USA

Cargo ships entering one busiest ports in world Singapore Photo OL International Holdings

OL International Holdings LLC (OL International) today announced the renaming and rebranding of TTS Worldwide as OL USA. Effective February 1st, 2017, the change is the latest and most symbolic development in an aggressive, multi-year strategic expansion plan for OL International’s businesses – now with representatives on the ground in over 140 countries. The announcement follows quickly on the heels of the launch of OL South Africa and OL Dubai in recent months.


Business Briefs

Hvide Marine/Sun State Christens New Ship Hvide Marine Incorporated (HMI) and subsidiary Sun State Marine Services, Inc., recently christened the first in a series of new cargo ships at its U.S. shipyard facility in Green Cove Springs, Florida. Constructed entirely on-site by Sun State Marine Services, Inc., the 190-foot 'landing craft' type freight vessel is specially designed and ideally suited for conducting trade with Bahamian and Caribbean markets that have minimal or unimproved


Sause Brothers Towing Repowers Ocean Tug

Based in Coos Bay Oregon, Sause Brothers Towing has been towing between Pacific Northwest and Southern Californian ports for over 50 years. A new double-hulled 105,000-barrel oil barge, Sunset Bay, is currently alongside at the company shipyard in Coos Bay. With the hull built at the Gunderson yard in Portland it is being outfitted by Sause. Also at the yard, the ocean going tug Powhatan is undergoing an extensive repower that will see a pair of 850 HP engines replaced with a pair of


Blu Logistics Brings Rate Management In-House

cargosphere.gif

CargoSphere,  cloud-based global rate management solution and confidential Rate Mesh network for the ocean and air transportation and logistics industries, has announced the completion of Blu Logistics’ integration with CargoSphere’s freight rate management solution.  Blu Logistics, a global logistics company offering sea and air freight services, customs brokerage, ground transportation, and warehousing, previously outsourced freight rate and contract management


Pilot Freight Wins Logistics Award

Pilot Freight, worldwide transportation & logistics provider, picks up its seventh 'Ryder Transportation Management Carrier Quality Award'. Every year Ryder recognizes carriers through this award who demonstrate excellence in on-time performance, claims handling, customer service, technology applicants, economic value and innovation. The Ryder awards recognize excellence through a variety of metrics including: on-time performance, claims handling, customer service, technology applicants


Container Shippers Battle Falling Rates

Photo: Greg Trauthwein

As freight rates keep declining, cost reductions are the top priority for box carriers. Drewry’s 2Q14 Container Forecaster highlights that there is a widening gap between the positive financials of the few carriers really focused on cutting costs and the rest of the top 20 lines, as they battle with the pressure of falling freight rates. Drewry forecasts that once again, average freight rates will be lower than in the previous year


Quality of Ocean Carriers “Poor to Average”

Image: Drewry Shipping Consultants Limited

 The service provided by container shipping lines is rated as poor to average and has deteriorated in the past year, according to a survey of exporters, importers and freight forwarders conducted jointly by Drewry and the European Shippers’ Council (ESC).   The ESC and Drewry contacted several hundred shippers and forwarders from all over the world in March 2017 and asked them how satisfied they were with 16 price and non-price related attributes of the services provided by


Ocean Freight Shipping Rates on the Rise

After a downtrend in the freight shipping tanker market since the middle of 2007, the industry has seen nothing but rate increases in the last month. This freight rate increase can affect consumers across the board, according to the freight transportation The cost of freight shipping can mean an increase in the cost of many consumer products, according to FreightBrokering.info, which is why it's so important to keep freight transportation costs down


The Hearsay Portal: part 1 of 2

Chris Giermanski (Director of International Operations, Transportation Services, Inc.)

Dr. Jim Giermanski (Chairman, Powers Global Holdings, Inc.) and Chris Giermanski (Director of International Operations, Transportation Services, Inc.) weigh in on the balance between facilitating trade and guaranteeing cargo identity and quantity - and what CPB needs to do to achieve just that. Automated Commercial Environment (ACE) Modernizing the flow of Customs data and improving security began many years ago


VLCC Rates to Stabilise as Owners' Resolve Stiffens

File Image: CREDIT EuroNav

VLCC's likely to struggle to break even for next two months; three-tier VLCC market weighs on sentiment.   Freight rates for very large crude carriers (VLCCs) are likely to become steady around the current levels as owners resist charterers' attempts to pull down hire rates with the


U.S. Freight Recovery Spurs Diesel Demand

File Image: CREDIT AEP

U.S. freight movements have started increasing again, which should help boost consumption of distillate fuel oil in 2017 and 2018.   The tonnage of freight moved by road, rail, barge, pipeline and air cargo has been increasing year on year since October


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


ZIM Achieves Improved Results in Q1

Photo: ZIM Integrated Shipping Services Ltd

 In the face of tough business environment, ZIM Integrated Shipping Services (ZIM) continues to outperform the industry and achieve improved results, claims a statement from the company.   ZIM's operating cash flow for Q1 2017 was $33.8 million, compared to negative $14


Positive Trends in Tanker Market

Photo: Euronav

 Euronav NV CEO Paddy Rodgers said that the company's financial results for Q1 was a confirmation of our thesis: short term challenges but a positive medium structure building for the tanker sector.  On the positive side demand for crude oil remains robust


China Launches First Home-built Aircraft Carrier

(Photo: Feng Kaixuan / Ministry of National Defense of the Peoples Republic of China)

China launched its first domestically built aircraft carrier on Wednesday amid rising tension over North Korea and worries about Beijing's assertiveness in the South China Sea.   State media has quoted military experts as saying the carrier


Baltic Exchange Chief Outlines Growth Plan

Newly appointed Baltic Exchange Chief Executive Mark Jackson has set out the Exchange’s vision of the near-future in a wide-ranging speech in Singapore during the concurrent MPA Singapore Maritime and Singapore Iron Ore Weeks. “The recent acquisition of the Baltic Exchange by the


Drewry Trims Long-Term Freight Rate Outlook for LNG shipping

Graph: Drewry Shipping Consultants Limited

 Given the mounting pressure on freight rates and continuing fleet growth over the next two years, Drewry believes that excess vessel supply will reduce only gradually with the recovery in rates pushed back to the latter part of next year


Tanker Market Could See Difficult Q2, Q3

File Image (CREDIT: AdobeStock / Carabay)

New vessels expected to hit freight rates; new trade route from east U.S. to Asia to meet Chinese demand.   The tanker market may face a "difficult" second and third quarter this year after a robust first quarter as supply of newly built vessels loom


Drivers of Logistics Industry

Keynote speaker Dr. Detleft Trefzger, CEO  Kuehne + Nagel International AG, and member of  member of the International Maritime Centre (IMC) 2030 Advisory Committee, speaking on the topic “Driving Forces of the Logistics Industry” at the 11th Singapore Maritime Lecture. Photo: Maritime and Port Authority of Singapore

 The end consumer who has ever-changing needs and will be the ultimate driver of all activities of the logistics industry, said Dr Detleft Trefzger, Chief Executive Officer of global freight forwarding and logistics giant Kuehne + Nagel International AG.  


Shanghai Grapples with Traffic Congestion

File Image (CREDIT: AdobeStock / (c) zhu difeng)

The world's busiest container port, Yangshan in China's business hub of Shanghai, is battling severe congestion wrought by dense fog, higher-than-usual volumes and the aftermath of a shake-up in shipping alliances, ocean carriers and port officials say.  


NovaAlgoma Short-Sea Carriers Launched

Photo: NovaAlgoma Cement Carriers (NACC)

 Algoma Central Corporation and Nova Marine Carriers SA today announced the creation of a new joint venture that will focus on short-sea dry-bulk shipping for global markets.    This new joint venture, operating as NovaAlgoma Short-Sea Carriers, or NASC


Antwerp Port Gets off to the Strongest Start Ever

Photo by Port of Antwerp

 The port of Antwerp handled 54,324,303 tonnes of freight during the first three months of this year, 1.5% more than in the same period last year. The further growth is mainly due to container freight, which was up by 2% in terms of tonnage.   


Seanergy Bags Time Charter for Capesize Bulker

Photo: Seanergy Maritime Holdings Corp

 Seanergy Maritime Holdings Corp has entered into a time charter contract (T/C) with a major European charterer, for one of its Capesize dry bulk vessels, for a period of about 18 months to about 22 months.    The T/C is for the 180


Low Water hinders Rhine, Danube River Shipping

File Image: A typical Danube River pushboat and barge arrangement. (CREDIT: AdobeStock / (c) digitalstock)

Water levels on the Rhine and Danube in Germany remain low despite recent rain and freight vessels cannot sail fully loaded on the German sections of the rivers, traders said on Tuesday.   The Rhine is too shallow for normal sailings south of Duisburg and Cologne to Switzerland, traders said






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright