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Wednesday, August 15, 2018

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NAT Weathering a Weak Shipping Market

Nordic American Tankers Limited (NAT) publishes its Q4 2012 financial report. In 2012, NAT improved its relative position within the industry despite a weak market. By retaining a strong balance sheet throughout 2012, NAT is able to consider expanding its fleet at a time when tankers are at historically attractive price levels. Nordic American has one type of vessel only - the Suezmax size tankship which can carry one million barrels of oil. The Suezmax vessel is highly versatile, able to be utilized on most long-haul trade routes. A homogenous fleet streamlines operating and administration costs, which helps keep cash-breakeven point low. As announced last month, NAT is paying a dividend of $0.16 a share for the fourth quarter 2012.

Iran's Tankers Target India, EU

File Image: A large tanker transits the Suez Canal enroute to Europe. (credit: Suez Canal Authority)

Iran wants to up exports to India by 200,000 bpd within 6 months. With Iran ready to resume business as usual with the world under a historic nuclear deal, Tehran will target India, Asia's fastest-growing major oil market, and old partners in Europe with hundreds of thousands of barrels of its crude. Iran expects the United Nations nuclear watchdog to confirm on Friday it has curtailed its nuclear programme, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports.

Gas to Become World's Primary Energy Source by 2035

Image: DNV GL

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today.Gas will become the largest single source of energy from 2034.DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency.

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts. "Even as oil rallies, analysts have barely nudged up their price forecasts as they worry that crude's recent gains might not be sustainable," notes the Wall Street Journal ("Analysts just aren't buying the oil rally", April 28). Many fear hedge funds are pushing up oil prices prematurely, which will lead to a renewed crash when the bubble bursts, as it did after the last big run-up in prices between January and May 2015. Hedge funds and other money managers have accumulated a record net long position in Brent and WTI futures and options, betting on a further rise in prices equivalent to 656 million barrels of crude.

Leif Hoegh Enjoys Healthy 2001

Norwegian shipping group Leif Hoegh forecast higher operating profit in 2001, helped by a larger RoRo vehicle transport fleet, after a smaller-than-expected 59 percent jump in the first quarter. "After a slow start to the year for the Ro/Ro and reefer segments, the markets picked up in March, a trend which has continued into the second quarter," the company said. "The operating profit, excluding sales gain or loss, is expected to increase from last year through (the) larger RoRo fleet, the Hoegh Galleon charterparty and the transfer of the liner service," it said. It added that bunker prices, foreign exchange movements and interest rates would all affect the company's results.

Giga Maritime Group Expands to Hone Competitive Edge

Automotive shipping and logistics provider Giga Maritime Group (GMG) has announced plans to invest in new IT infrastructure, the expansion and replacement of fleets, assets and vehicles as well as developing new car terminals, in an effort to hone the group's competitive edge and meet the demands of Malaysia's growing automotive industry. Datuk Kumar Prabakaran, the managing director of GMG companies Giga Shipping Sdn Bhd and Nexus Mega Carriers Sdn Bhd, said these investments are vital in order for the group to meet growth demands following the National Automotive Policy (NAP) announcement earlier this year. Malaysia aims to increase its total production of 1.25 million vehicles and boost annual exports to 250,000 units by the year 2020.

APM Terminals, Volvo Ink Chennai Warehouse Deal

APM Terminals Inland Services, South Asia Photo APM

APM Terminals Inland Services, South Asia has signed an exclusive agreement with Gothenburg, Sweden-based Volvo Cars to provide a dedicated, specialized warehouse facility in Chennai. The customized warehouse will provide an integrated Inland Services solution for the Volvo Completely Built Up Units (CBUs) imported from Europe to India through the Port of Chennai. The 102,000 square foot facility will include bonded and non-bonded areas with an overall capacity of 500 vehicles.

Gas to Become World's Primary Energy Source by 2035: DNV GL

Image: DNV GL

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today. Gas will become the largest single source of energy from 2034. DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency.

Return of the Electric Boat

f longer travel is in your plans, the Greenline 33 is the largest hybrid powerboat on the market today.

In the 1880s it was possible to cruise your way around London by an electric ferry on the River Thames. At its height, the river carried 13 launches, each measuring 28 ft. long. They glided along at five knots and had a range of about 60 miles. Each launch carried one ton of storage batteries hidden underneath the passenger seats. Charging stations were even placed along the river so these electric launches could continue up and down unhindered. An article in Scientific American…

APM Terminals Pipavav Starts New Ro/Ro Service

APM Terminals Pipavav handles RORO vessel

With 1,300 new Indian-built Ford automobiles loaded onto the Grand Dahlia on August 27th for delivery to Mexico, a new era for the Indian auto industry and Gujarat Port Pipavav commenced. The 59,217 gross ton roll on/roll off (Ro/Ro) vessel was the first to call Western India’s fastest-growing port, operated as part of the APM Terminals Global Terminal Network. APM Terminals Pipavav announced the inauguration of Ro/Ro operations at the multi-purpose port last June after concluding…

Tanker Market: Electrifying Demand

Graphic: Gibson tanker report

Twenty years, the investment timeline to consider when ordering a new tanker, is a long time in any industry, not least in the rapidly evolving energy markets and the drive for cleaner fuels, says Gibson tanker report. Whilst, the collapse in oil prices in recent years may have taken the shine off many cleaner sources of energy (at least from a cost perspective) other pressures, mainly environmental, are likely to continue to influence energy consumption. In our industry, changes to bunker specifications will influence the type of fuels consumed…

BV Strengthens Vehicle Inspections in U.S.

Bureau Veritas has just completed the acquisition of Quiktrak Inc., an American company specializing in vehicle and agricultural machinery stock audit. Founded in 1991 and headquartered near Portland, Oregon, Quiktrak provides field inspections and inventory auditing services for leasing and finance companies. The company has leading-edge technology, including some of the most advanced risk management tools in the industry, particularly its RevoquestTM software for automating the audit and inventory management process. Quiktrak operates primarily in the United States and Canada, and currently distributes its software licenses in 14 countries. The company employs 90 people and has a vast network of independent inspectors giving the company a strong footprint across the United States.

Puget Sound Container Volumes Flat in 2014

Photo: Port of Seattle

Container volumes through Puget Sound’s largest container ports remained flat in 2014, according to numbers released jointly for the first time by the ports of Seattle and Tacoma. “Reporting our combined cargo volumes demonstrates our commitment to the Seaport Alliance,” said Port of Seattle Commission co-President Stephanie Bowman. The two ports announced in October 2014 plans to form a Seaport Alliance to unify management of marine cargo terminals and related functions. Currently in the due diligence phase…

Puget Sound Container Volumes Flat in 2014

Port of Seattle image by Don Wilson

Container volumes through Puget Sound’s largest container ports remained flat in 2014, according to numbers released jointly for the first time by the ports of Seattle and Tacoma. “Reporting our combined cargo volumes demonstrates our commitment to the Seaport Alliance,” said Port of Seattle Commission co-President Stephanie Bowman. The two ports announced in October 2014 plans to form a Seaport Alliance to unify management of marine cargo terminals and related functions. Currently in the due diligence phase…

Refiners Prep for Low Sulfur Diesel Demand

Even if the diesel engine's scandal-driven fall from grace pushes it out of the world's passenger cars, an increasing need for it on ships, in trucks and heavy industry could save the refineries that invested heavily in producing the fuel. The unfolding crisis that kicked off when Volkswagen falsified U.S. car emissions has spurred a litany of changes at vehicle manufacturers, which are now putting their cash behind electric cars, or back to gasoline engines. "I'm not concerned for refineries," said Steve Sawyer, head of refining with consultants FGE. Although oil refiners disagree over how quickly the global market will turn its back on fossil-fuel-powered cars, the shipping industry is set to turn to low-sulphur diesel in droves due to new regulations.

U.S. Refiners Cash in on Mexico's Record Imports

File image: a laden oil tanker underway (Crdit Adobestock 12895221

U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico, shipping record volumes to a southern neighbor that has failed to expand its refining network to supply a fast-growing economy. The fuel trade could top a million barrels per day (bpd) at times in 2017 as Mexico becomes increasingly dependent on the United States for strategic energy supplies and providing business worth more than $15 billion a year to refiners such as Valero, Marathon Petroleum and Citgo Petroleum.

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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