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Strong Growth

Northrop Grumman Q1 Profit Up 20%

According to a May 3 report from The Associated Press, Northrop Grumman Corp. said its first-quarter profit increased 20 percent, led by strong growth in shipbuilding. Business improved for nearly every sector in which the company operates, except for a 1% decline in information systems. (Source: The Associated Press)


New CEO for Evergas

Mr. Steffen Jacobsen is appointed as CEO courtesy Evergas

  Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk. He brings a wealth of leadership experience in both commercial and technical management, having amongst other positions headed Maersk Tankers fleet management for 9 years. Before that he held both operational and commercial leadership positions in Maersk Tankers, Maersk Contractors and Maersk Drilling.


Port of LA Posts Busiest May Ever

Photo: Port of Los Angeles

Overall cargo volumes at the Port of Los Angeles increased nearly 11 percent in May compared to the same period last year, marking the busiest May in the Port’s 109-year history. Total volumes registered at 770,409 Twenty-Foot Equivalents (TEUs), with container growth of 8.7 percent for the first five months of 2016 compared to last year. “The strong growth both on the import and export side is encouraging as we continue to explore ways to improve supply chain efficiencies


ABB Wins LNG Propulsion Contract

Chantiers de l´Atlantique, ALSTOM Group, has awarded ABB Marine a contract to supply the electric propulsion system for a new 153,000 cu. M. LNG carrier, owned by Gaz de France. The vessel will be built in France by Chantiers de l´Atlantique and delivered in 2005. The supply of medium voltage power systems to LNG carriers has been a strong growth area for ABB. According to Martinus Brandal, head of ABB´s global Marine business, “In the last three years


P&O Business Remains Firm

British shipping firm Peninsular and Oriental Steam Navigation Company said that overall trading conditions at its core ports, ferries and logistics businesses had remained firm in the fourth quarter. The company, which de-merged its cruise business last year, highlighted strong growth in its ports unit but said trading in the ferry business had been "reasonable" despite higher fuel costs. Contract logistics had a good fourth quarter though the weakness of the euro hurt unit loads


Royal IHC sells Subsidiary IHC Sealing Solutions

The SUPREME Standard. (Photo: IHC Sealing Solutions)

Royal IHC (IHC) has reached an agreement to sell 100% of its shares in its subsidiary IHC Sealing Solutions to new owners Willem Steenge, who as CEO is partly responsible for the strong growth of IHC Sealing Solutions in recent years, and Rabo Participaties (RaPar).   The sale enables IHC to strengthen its focus on its core business: offering integrated innovative vessels, advanced equipment and life-cycle support to the dredging, wet mining and offshore construction industries


Port of Rotterdam Records Strong Growth

Throughput figures for the port of Rotterdam continue to show strong growth. In the first 9 months of this year, 277 million tonnes of cargo were handled, 4% more than in the same period of 2004. Growth is above the prognosis for this year as well as the expectations for the longer term, of 2–3 %. Container handling is doing even better with +14%. In weight, container handling went up from 61 million tonnes in 2004 to 68 million tonnes (+12%)


US Could Eliminate Energy Imports -EIA

Figure 1 (Source: EIA)

EIA's AEO2015 projects that U.S. energy imports and exports come into balance, a first since the 1950s, because of continued oil and natural gas production growth and slow growth in energy demand   The Annual Energy Outlook 2015 (AEO2015) released today by the U.S. Energy Information Administration (EIA) presents updated projections for U.S. energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High Oil Price


World Floating Production Report Due Soon

Douglas-Westwood Limited and Infield Systems will shortly be releasing the new third edition of its World Floating Production Report,covering the period 2003-2007. There are currently 165 prospective installations identified by the Infield database for this 5-year period. These prospects include FPSOs, production semi-submersibles, TLPs and spars, along with production barges and FSOs. The indications are that the floating


Schottel Expands in N America

SCHOTTEL-Inc_web.jpg

Over the last years Schottel has enjoyed a strong growth in North America as well as in Latin and Central America. The “Schottel Fleet“ is growing rapidly and new facilities are needed. Schottel Inc.’s main office in Louisiana has recently moved from Harahan to James Business Park in St. Rose where larger facilities can store more spare parts and overhauls being performed more efficiently. The new address: Schottel Inc., 190 James Drive East, Suite 100, St. Rose LA. 70087


Ecoslops Production Doubled

Image: Ecoslops

 Ecoslops, an innovative technology company that upgrades ship-generated hydrocarbon residues into valuable new fuels and light bitumen,  announced key achievements for the first half of 2017.  Ecoslops has confirmed the excellent performance of the first industrial micro-refinery


Sinochem Implements DNV GL's ShipManager to 80 Vessels

Image: DNV GL

 China’s Sinochem International Logistics, a leading chemical tanker owner and operator with 80 vessels, is implementing DNV GL’s data smart fleet management system ShipManager on the entire fleet, optimizing operations and improving performance and efficiency.  


Battery Pioneers AKASOL , ZEM Set Sail Together

Photo provided by AKASOL

 The German expert for lithium-ion battery systems AKASOL and the Norwegian pioneer of maritime energy storage solutions ZEM have worked together on the development of AKAZEM.    The result is a unique autonomous IP 67 compliant liquid cooled modular system that can be combined in


MOL Group Q1 Shows Robust Earnings Growth

North Sea block. Photo: MOL Group

 MOL Group announced its financial results for Q1 2017 in which all business segments – Upstream, Downstream, Consumer Services, Gas Midstream – managed to increase their contributions compared with the same period of the previous year.  


Economic Indicators Pointing Up -BIMCO

© Dmitry V. Petrenko / Adobe Stock photo

The recent months’ uptick in global indicators, which implies a strengthening in the global economy, is not sufficient for the patient to be discharged yet. The state of the global economy is still uncertain, despite stronger growth dynamics in advanced economies, and not least in China.


India's Box Trade to Grow Double Digits: Maersk

Photo: Maersk Line

Maersk Line said that the growth of EXIM container trade of India in the current year is likely to be in two digits.   The export-import container trade volume of India grew by 10% for the full year 2016, which was double of 2015, that too amid weak global trade.  


DP World’s Net Income Exceed USD 1 Bln for First Time

DP World London Gateway. Photo: DP World

 Dubai-based port and terminal operator DP World announced strong financial results from its global portfolio for the twelve months ending 31 December 2016, despite “significant challenges” in the industry.   On a reported basis, revenue grew 4


Georgia Ports mark busiest month

The Ports of Savannah and Brunswick achieved a 26 percent increase in total tonnage in January, compared to the same month last year. Find print quality images here. (Georgia Ports Authority  Stephen B. Morton)

The Georgia Ports Authority achieved outstanding January results, with double-digit growth across all business sectors and a 26 percent increase in total tonnage.   "The Port of Savannah is unrivaled in its connectivity into the heartland of the U.S


Oversupply Pressure on LPG Shipping Rates

Graph: Drewry Shipping Consultants Limited

 The LPG shipping trade will continue to grow at a healthy pace on the back of strong Asian demand, but fleet growth will outpace it, keeping rates under pressure in 2017, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.  


US Imports Growing in First Half of 2017

File photo: Port of Los Angeles

Imports at the nation’s major retail container ports are expected to increase 4.6 percent during the first half of 2017 over the same period last year as the nation’s economy improves and retail sales continue to grow, according to the monthly Global Port Tracker report released today


DP World Volumes rise

Table courtesy DP World

DP World Limited handled 63.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2016, with gross container volumes growing by 3.2% year-on-year on a reported basis, and 2.2% on a like-for-like  basis


Marine Business Helps Power GD Forward

On Wednesday, January 25, General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), began construction on a fifth ship for the U.S. Navy’s Expeditionary Transfer Dock (ESD)/Expeditionary Sea Base (ESB) program. (Image: General Dynamics NASSCO/USN)

General Dynamics (NYSE: GD) reported fourth-quarter 2016 earnings from continuing operations of $807 million, a 5.6 percent increase over fourth-quarter 2015, on revenue of $8.2 billion. Diluted earnings per share from continuing operations were $2.62 compared to $2.40 in the year-ago quarter, a 9


Russian Seaport Cargo Volumes All Time High

Photo: Port of Novorossiysk

 The turnover of goods of seaports of Russia for the first time in history exceeded the mark of 700 million tons per year, reports local media.   According to figures released by the Russian Maritime Ports Association, the sector's overall turnover rose 6.7 percent in 2016. 


Port Klang's throughput surge to 13.2m TEU

Table showing Performance

Port Klang Authority stated that Port Klang registered a positive growth of 10.8% in 2016 in container handling compared to 2015 with a total of 13,169,577 TEU’s, Northport handled 3,223,544 TEU’s while Westports handled 9,946,033 TEU’s.


Antwerp Finishes 2016 with 2.7% Growth

Photo:  Port of Antwerp

The port of Antwerp handled over the past year 214 057 529 tons of goods. Which is 2.7 more than the previous year.   Container volume up 4.1%: At 4.1% the growth in container volume is even more pronounced: after 12 months the figure stood at 117,909,533 tonnes of containerised freight






 
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