Coast Guard Investigates Spill
Coast Guard pollution investigators are en route to a reported oil well line rupture in the Atchalaya Basin, north of Marsh Island. Hilcorp, a Houston company that owns the line, reported the spill at 9:30 a.m. The spill is estimated to be 100 barrels, or 4,200 gallons; the sheen is reported to be 500 yards by 300 yards. Oil Mop, an Oil Spill Response Organization, is on scene cleaning the oil, which is contained in the surrounding marsh.
Horizon Lines Experiences Minimal Disruptions from Earthquakes
Horizon Lines reported that the earthquake measuring magnitude 6.6, and several strong aftershocks including one measuring magnitude 5.8, that struck the Big Island of Hawaii on Sunday morning has not significantly impacted its operations. Inspections conducted Sunday found all cranes fully operational and minimal impacts to the Port of Honolulu. Power was restored late Sunday and a Horizon Lines vessel, the Horizon Pacific, made its normally scheduled port call and was successfully worked last night.
ACL Sees 2Q Profits Tripled
American Commercial Lines reported that the company’s second- quarter profits nearly tripled on strong sales. The Jeffersonville-based company posted net income of $17.7m, compared with $6.03m during the same period a year ago. Sales increased 20 percent. The company announced last month it plans to hire 1,100 people over the next three years. (Source: Star report)
Gulf Platform Fire: Two Missing Four Badly Burned
Coast Guard search continues for missing personnel following blaze on an oil platform in the Gulf of Mexico The fire on a shallow-water drilling oil production platform began while workers were using a torch to cut an oil line, reports Associated Press, and was brought under control within hours. Eleven people were taken by helicopter to area hospitals or for treatment on shore by emergency medical workers. A sheen of oil about a half-mile long and 200 yards wide was reported on the Gulf surface, but officials believe it came from residual oil on the platform. Source: Associated Press
Maersk Line Joins Safmarine on S. Africa/U.S. Route
Maersk Line reported that its ships would join Safmarine and MSC on the express service between South Africa and the U.S. The express service deploys seven vessels on a fixed weekly service between Durban, Port Elizabeth and Capetown in South Africa and Newark, Baltimore, North Charleston in the eastern United States, it said in a statement.
Safmarine MD, Safren CEO Step Down
South Africa's Safmarine Container Lines reported that its Managing Director and Safren Chief Executive Tony Farr had stepped down. Moeller, which owns the world's leading container shipping company Maersk, acquired Safmarine's container shipping assets in February for $240 million cash plus the assumption of $115 million debts.
Samsung Heavy Bags Order for 2 LNG Carriers
South Korea’s Samsung Heavy Industries (SHI) has won a $100 million order to build two liquefied natural gas (LNG) carriers for Korea Line, reports Yohnap. Korea Gas Corp. (KOGAS) has chartered Korea Line to transport LNG from Tongyeong, South Gyeongsang Province (mainland) to Jeju Island for 20 years. Under the deal with Korea Line, SHI will build the ships by December 2019, the company said. One of the two vessels would have LNG bunkering capability. The ships, which can carry up to 7,500 cubic meters of LNG each, will be deployed to transport LNG between local ports, it added.
Qatar's LNG Output to Quadruple
By 2012, about one-third of the world's liquefied natural gas (LNG) tanker fleet will be delivering LNG produced in Qatar, the Peninsula On-line reported. In terms of world markets, in 2004 global trade in LNG was 178 billion cubic miters (bcm), of which Qatar supplied 24 bcm. Only Algeria (26 bcm), Indonesia (33 bcm) and Malaysia (28 bcm) were larger. However, by 2012, Qatar's production will quadruple and its direct major competitors will only make small production increases. If this happens, Qatar will then be the largest supplier of LNG in the world. (Source: Peninsula On-line)
MISC Sees Record Freight Rates
Business Lines report that MISC Bhd has experienced its best performance over the past 20 years in the chemical shipping market. Freight rates for shipping chemicals reached historical highs in the second half of 2004, exceeding previous peaks of 1991 and 1995. The firmer freight rates are the result of demand outstripping supply for the more sophisticated chemical vessels and the lack of shipyard space to build stainless steel chemical vessels. The demand for chemical vessels has also edged up as countries such as India and Pakistan restrict vessels which are more than 25 years from entering their ports. Taking advantage of this market situation the carrier has placed orders for additional four chemical tankers.
RFID Tracking for US Visitors
In an experiment, the US Department of Homeland Security (DHS) is deploying radio frequency identification (RFID) technology to track immigrants entering and exiting the country, according to a Hindu Business Line report. The RFID is an automatic identification method, relying on storing and remotely retrieving data using devices called RFID tags or transponders. Beginning July 31, the experiment applies to people without green cards entering the US with a visa to work, study or tour. Over the next year, people in these categories will be issued new "I-94" visa cards embedded with an RFID tag at five border crossings of Nogales East and Nogales West in Arizona, Alexandria Bay in New York, and the Pacific Highway and Peace Arch in Washington.
CSM Insight Launches Social Media Tracker for Cruise Lines
While many research companies aggregate and report social media data, CXMI’s unique system uses advanced social media analysis – by real people, not key word algorithms – to provide the strategic information cruise lines need. CXMI’s Social Media Tracker covers over 98% of the passenger capacity of Cruise Lines International Association (CLIA) members. Each cruise line can now have reliable social media measurement for the 17 cruise lines in the tracker. Cruise lines reported that January’s shipwreck had an immediate negative impact on 2012 bookings and balance sheets. While starting to normalize, this incident shows the importance of a more complete understanding of how events, positive and negative, affect passengers and potential passengers.
Japanese Shipping Companies in Troubled Waters
Though the challenging market conditions in the container shipping industry continued to add pressure to Japan’s major shipping companies, turnaround seen as write-downs set to fizzle out, earnings forecasts upgraded, reports Nikkei. Nippon Yusen Kabushiki Kaisha (NYK Line) reported the largest net loss for the nine-month period which amounted to JPY 226 billion ($ 1.98 billion) in the first nine months of fiscal year 2016 ended December 31. Kawasaki Kisen Kaisha (K Line) concluded…
Standard & Poor's Puts Stena Line On Credit Watch
Standard & Poor's placed its single-'B'-plus long-term corporate credit ratings, and its single-'B' senior unsecured debt ratings on Stena Line AB on CreditWatch with negative implications. The CreditWatch placement follows the company's announcement of weaker-than-expected earnings for the first nine months of the year, and the announcement that Stena Line has acquired Scandlines AB (a ferry company operating five routes linking Sweden, Denmark, and Germany) for $67 million in cash. Stena Line, one of the world's largest ferry companies, operates 25 vessels on 12 routes in Northern and Western Europe. It also owns a 40 percent interest in P&O Stena Line.
Stena Adds Vessel on Gdynia-Karlskrona Line
Stena Lines reports the number of units carried by its Baltic Sea South freight business increased significantly in the first eight months in 2017, following strong growth through 2016. This calls for increased capacity, and from Monday, August 28, a fourth ship, M/V Gute, has been taken into operation between Gdynia and Karlskrona. “Over these last few years we have experienced a very positive volume development and we believe this will continue and we are very happy to introduce a fourth ship since we are in need of extra capacity to be able to continue to grow.
Latest Ocean-going Shipbuilding Orders
A number of orders are reported by Clarkson Hellas in their latest S&P Weekly Bulletin, with contracts being signed across the Dry Bulk, Tanker and Container markets. Activity has been focused amongst the small/midsized vessels with Empros Lines reported to have signed up for a pair of 63,000 dwt Ultramax bulkers at Imabari. Delivery of both vessels is scheduled in 2016. Inui Steamship meanwhile are reported to have turned to Onomichi Dockyard for one 60,000 dwt bulker with delivery much later in early 2018. In amongst the smaller handysizes, Nissen Kaiun K.K.
Horizon Lines' Jones Act Ships for Asian Drydocking
Horizon Lines reports Q! "Horizon Lines generated slightly improved revenue container volume and higher EBITDA and adjusted EBITDA in the first quarter relative to a year ago, despite challenges that included severe winter weather in Alaska, higher fuel prices and increased expenses," said Stephen H. Fraser, interim President and Chief Executive Officer. "Hawaii's performance improved significantly on solid customer support and an improving economy. Alaska's results were also better despite record cold and snowfall, which had a significant, adverse impact on customer demand and operations. Alaska was buoyed in part by domestic southbound volume that was driven by a strong seafood market.
Maersk: Shipping Recovery Coming
Maersk Line posts loss, but company sees improvement. A.P. Moller-Maersk beat first-quarter net profit forecasts on Thursday, boosted by the energy business it plans to spin off, but also reported signs of improvement at its long-suffering container shipping business. Shares in the Danish conglomerate climbed almost 5 percent after it said a gradual recovery in freight rates should boost earnings at Maersk Line, the world's biggest container shipping business, over the rest of the year.
Horizon Lines Reports 3Q Results
Horizon Lines, Inc. measures. quarter of 2004. revenue. $27.4 million for the same period last year. intangible assets associated with the July 2004 acquisition of the Company. transaction expenses totaling $11.3 million. quarter of 2005, compared to 2004. over third quarter 2004 on a comparable basis. 2004. Basic earnings per share for the third quarter of 2005 was $.14. December 27, 2004.
Horizon Lines Reports 2Q Results
Horizon Lines, Inc. reported solid earnings for the second quarter of 2007. Net income for the second quarter of 2007 was $9.6m or $.28 per diluted share compared to net income of $6.4m or $.19 per diluted share for the second quarter of 2006. After adjustment to exclude the non-recurring loss on extinguishment of debt in 2007 and secondary offering expenses in 2006, and to retroactively apply tonnage tax to 2006, adjusted net income was $10.0 million or $.29 per diluted share in 2007's second quarter, versus $9.7 million or $.29 per diluted share in the second quarter of 2006. 2007 to $295.7 million, compared to $289.8 million for the second quarter of 2006. Operating income in the second quarter of 2007 was $22.9 million versus $22.4 million in 2006's second quarter.
ShipDecision Comprehensive Emissions Performance Reporting Module
ShipDecision Comprehensive Emissions Performance Reporting Module Developed in Conjunction with Canfornav Inc. Speaking today at the Green Tech conference organized by Green Marine, representatives from Canfornav Inc. and Stelvio Inc. described a new Maritime emissions reporting technology. Shipowner and Operator Canfornav sought to automate the collection of emissions performance data that the company reports annually, in compliance with the Emissions Reporting guidelines established by Green Marine.
Hyundai Drive Made First Call to Hamad Port
Qatar’s Hamad Port announced the addition of a new service from South Korean shipping line Hyundai Merchant Marine (HMM) to its growing network list, QNA reported. HMM’s 365.5-metre-long ‘Hyundai Drive’ made its first call to Hamad Port, marking the official start of a new Hyundai Merchant Marine’s KME (Korea Middle East Express) service. It is the largest container vessel to make its maiden call in Qatar since the opening of Hamad Port. The vessel from Kwangyang Port in South Korea arrived at Hamad Port in the container terminal CT1.
Carnival Cruise Lines' Tropicale To Be Transferred To Costa Cruises
Carnival Cruise Lines reported today that it will transfer its 1,022-passenger Tropicale to sister company Costa Cruises in February 2001. Prior to its delivery to Costa, the 36,674-ton vessel will complete its current schedule of 10-day Panama Canal cruises from Fort Lauderdale, Fla.,which end Feb. 10, 2001. After that, Costa will immediately reposition the Tropicale to Genoa, Italy, for an extensive refurbishment and refit before placing the vessel into European service. Once the work is complete, the vessel will assume the physical characteristics and on-board environment of a typical Costa-owned ship. "We've said all along that Costa will be our primary platform for expanding our European business and the transfer of the Tropicale is consistent with that strategy…
Horizon Lines Report Container Volumes Up in Q2 2012
Horizon Lines reports second-quarter 2012 financial results: container volume improves 3.6% from a year ago. Sam Woodward, President and Chief Executive Officer said "Our overall adjusted EBITDA performance for the quarter was better than expected, due largely to the volume gain, which in turn improved the recovery of fuel costs. "Looking at each trade lane, Hawaii experienced continued strong volume gains during the quarter, helped in part by improving tourism and ongoing customer support amid an otherwise sluggish business environment," Mr. Woodward said. "Alaska's business rebounded from the first quarter, when record cold and snowfall exacerbated and extended the typically slow winter season.