Logistics Ltd News

Shreyas Shipping and Logistics Ltd, the Indian-flagged vessel-owning firm of Transworld Group of companies said Tuesday that it had acquired three container vessels within just one week. The three vessels have been renamed as SSL Godavari, SSL Kaveri, and SSL Thamirabarani, and according to VesselFinder.com, the vessels' previous names were Windermere, TS MANILA, and Sky Pride, respectively.The SSL Godavari has a capacity of 2,872 TEUs, while the SSL Kaveri and SSL Thamirabarani have a capacity of 2,553 TEUs and 962 TEUs, respectively. The company said the purchase made it "the national leader in the Indian containerized shipping industry with 12 feeder vessels with a total capacity of 26…

APL Logistics and K Line have announced that they have settled in a legal dispute, that sparked when employees from the logistics company spread bankruptcy rumours about the Japanese carrier."In September 2016, employees of APL Logistics Ltd.(APLL) sent erroneous e-mails to its customers which were not based on the facts regarding our financial situation. We thereafter filed a lawsuit at the Tokyo District Court in December 2016 demanding damages in relation to such e-mails," said a press release from K Line.It continued: "APL and its parent company, Kintetsu World Express, Inc., acknowledged the fact that the e-mails included an erroneous report…

Kawasaki Kisen Kaisha (“K” Line), one of the largest Japanese transportation companies, held the Award Ceremony for “K” Line Group Environmental Awards 2018 on June 5, 2018. According to a company press release, the awards were established to honor and give recognition to outstanding environmental-preservation-contributive activities addressed by executives and employees working throughout the “K” Line  Group pursuant to the direction developed in  “K” Line Environmental Vision 2050. This year, which marked the 4th time since establishment of the awards in 2015, we also accepted many entries from our group companies both in Japan and overseas.

Fujitsu Laboratories  announced that it has conducted a trial of a ship performance estimation technology(1) together with Mitsui O.S.K. Lines (MOL) and Ube Shipping & Logistics, Ltd. Developed by Fujitsu Laboratories and Tokyo University of Marine Science and Technology (TUMSAT), the technology can predict figures such as ship speed and fuel consumption. The results of the trial showed that the technology is capable of estimating ship performance with an estimated margin of error under 1.5%, both on the ocean and near the coast, and in a variety of weather and wave conditions. With this technology, it is possible for operators to accurately predict ship courses that will reduce fuel consumption, leading to lower fuel costs.

Kawasaki Kisen Kaisha Ltd (“K” Line) announced changes to executive officers. “K” Line has promoted Senior Managing Executive Officer Kazutaka Imaizumi to the position of chairman of “K” Line India Private Ltd., Executive Officer Aka Hiraoka to counselor of “K” Line Logistics Ltd., and Executive Officer Tomoyuki Okawa to chief executive officer of “K” Line Offshore AS. Tomoyuki Okawa will provide assistance to Energy Transportation Business, in charge of Tankers, General Manager of Energy & Off-Shore Business Planning Group. Tomoyuki Okawa has joined “K” Line in 1983. His career has been spent in various business sectors such as Containership, Car Carrier and Energy Transportation Business.

Kawasaki Kisen Kaisha, Ltd. (“K’’ Line) has today filed a civil lawsuit in Tokyo District Court against APL Logistics Ltd. (“APLL”), a Singapore entity which is engaged in international transportation business, seeking compensation for damages arising from APLL employees’ acts of disseminating false information relating to “K” Line. Some of APLL employees have disseminated false information to “K” Line’s clients, which had spread globally, by sending e-mails in which they strongly recommend terminating bookings on “K” Line and shifting to other carriers, because of a potential bankruptcy. Thus, the reputation of “K” Line has been substantially damaged, and “K” Line has suffered considerable damage due to cancellations or suspensions of bookings by clients.

Kevin Hawes has started at  Seattle-based maritime services company and consultancy The Maritime Group (TMG) International Ltd., as Business Development Manager and Senior Consultant. Based at TMG’s London office at Victoria Embankment, he brings a wealth of commercial experience gained since leaving the British Royal Navy as a Lieutenant Commander in 1993. His appointment comes as TMG continues to grow, including a new website and recent ISO 9001 quality accreditation. Hawes' maritime experience was developed from 17 years in the Royal Naval Submarine Service to…

Thailand-based Thoresen Thai Agencies (TTA) has disposed of all its holdings in affiliated ship agency Thoresen Shipping and Logistics Ltd (TSL). TTA said in an exchange filing that it had disposed of around 240,000  TSL shares to Thailand-based Naxco Shipping and Logistics. The Bulker says stake sale is in line with strategy to restructure and strengthen shipping business. "TTA hereby confirms the disposition of our investment in TSL, as part of an ongoing strategic review of our different businesses and subsidiaries," says a press statement. The total amount received from the sale of shares in TSL is Baht 28,000,000 (Baht Twenty Eight Million) for 245,000 shares. The payment was made in full on 13 July 2016.

India’s integrated logistics solution provider Allcargo Logistics Ltd announced the rebranding of its global subsidiaries, ECU Line, Econocaribe and China Consolidators to ECU Worldwide. “The name ECU-Worldwide heralds the start of a new chapter,” said Allcargo Logistics Founder and Chairman Shashi Kiran Shetty. “This is in line with our vision to become a $2 billion revenue organization by the year 2020. “The new name signifies more than just a rebranding of our group companies. It provides us with the impetus to deliver more, create new products and proactively propose solutions to surpass client’s expectations to help achieve our ambitious growth targets.” Shetty added.

Logistics service and solutions provider Seaways Shipping & Logistics Ltd has filed draft papers with the capital markets regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The IPO comprises fresh issue of shares worth  about $12 million through a fresh issue of sale and an offer-for sale of up to 6,445,224 equity scrips by the existing shareholders, including IDFC Private Equity, according to the Draft Red Herring Prospectus filed with Sebi. With this, Seaways Shipping has become the fifth company to file papers with SEBI this year for an IPO. The proceed of the fresh issue would be utilised for capital expenditure, repayment of loans and for other general corporate purposes.

Shreyas Shipping & Logistics Ltd reported weak set of earnings in its third quarter earnings on Friday. Net profit fell a staggering 88 percent to Rs 2.77 crore year-on-year (YoY) and EBITDA margins dipped 17.4 percentage points to 6.4 percent (YoY). It has reported a consolidated total income from operations of Rs 141.14 crore and a net profit of Rs 2.77 crore for the quarter ended Dec '15. For the quarter ended Dec 2014 the consolidated total income from operations was Rs 139.83 crore and net profit was Rs 22.38 crore. VK Singh, CEO of Shreyas said that the even though capacity had increased but low demand due to global meltdown impacted this quarter. Revenue growth was limited as freight rates fell 30 percent this quarter, he added.

The Indian government’s has been going all out to put the growth of the Indian maritime Industry on a fast track by opening up a host of opportunities, offering goodies and putting in place new facilities. Setting the tone for his keynote address at the 9th Biennial International Conference on Ports, Shipping & Logistics organized by the Bombay Chamber of Commerce & Industry at the Taj Mahal Hotel, Mumbai, Nitin Gadkari, Union Ministry of Road Transport, Highways and Shipping, government of India assured his all out support to the head honchos of ship owning, ship manning, logistic companies, and other players of the Maritime Industry…

Neptune Orient Lines Ltd (NOL)  has officially confirmed that it is a takeover target of two separate companies: French shipping company CMA CGM and Danish conglomerate AP Moeller-Maersk. As per a report in the Business Times, NOL said in an announcement on Saturday evening that it was in preliminary talks with the two "with respect to a potential acquisition of NOL". "There is no assurance that any such discussions will result in any definitive agreement or transaction, or that any offer for NOL will be made or as to the terms on which any such offer might be made," it said. The firm has been looking for a buyer for months. NOL, controlled by Singapore’s state investor Temasek Holdings, has been struggling in a prolonged downturn in the global shipping market.

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and a part of Adani Group, a global integrated player, entered into a strategic partnership with National Collateral Management Services Limited (NCML), a major Agri-infrastructure player, for collateral management and warehousing services. The objective of these services will be to assist industries, traders, Importers and exporters in financing their capital requirements at all stages of the supply chain, ranging from Post harvest storage to export or Import stages. Mr. Sanjay Kaul , MD & Chief Executive Officer, NCML, signed the agreement with Capt Unmesh Abhyankar, Chief Executive Officer (Mundra Port) and Mr. Vipul Shah, Head –Sales and Mktg, Adani Hazari port in presence of Mr.

Mumbai-based Shreyas Shipping and Logistics Ltd (SSL), part of global conglomerate Transworld Group, has acquired two container ships to boost its fleet to 8 vessels from earlier 6 vessels. In a filing to the stock exchange, the company said that the newly acquired ships would be plying in domestic as well as international waters. The company also plans to introduce additional 5two vessels within a years’ time. SSL Bharat with a capacity of 2,959 Twenty-Foot Equivalent Units (TEUs) of containers was delivered at Jebel Ali, Dubai, on Thursday. SSL Chennai of 700 TEUs capacity was added to the fleet at Port Kelang, Malaysia on July 14. Following the induction, SSL’s fully-owned subsidiary Shreyas Relay Systems will commence operations to Bangladesh soon. SSL Chairman and Managing Director S.

Neptune Orient Lines sells APL Logistics to Kintetsu World Express   Neptune Orient Lines Limited (NOL) announced that it has completed the sale of its logistics business, APL Logistics Ltd (APLL), to Kintetsu World Express, Inc. (KWE) for an aggregate purchase price of $1.2 billion, subject to adjustments for the net cash and net working capital of APLL and its subsidiaries as at the completion date.   NOL said it will announce the final purchase price after such adjustments have been determined.

U.S. Ten years on, there’s little certain about ballast water management regulations that the industry can chart a course around other than that it will be expensive – possibly the most costly marine retrofit to date. With install estimates running from $500,000 to as much as $5 million per vessel, across some 68,000 commercial ships estimated by the IMO to transfer 7 billion tons of  ballast water annually – industry players say we could be looking at as much as an $80 billion market. Eventually, that is, because there is not a lot of activity right now.

United Arab Shipping Company (UASC), a leading global shipping company based in the Middle East has announced that it will open a wholly-owned representation in the Swiss market as of 1st of January 2015. UASC’s new agency in Switzerland (UASAC Switzerland GmbH) will be a subsidiary of UASAC Deutschland GmbH and will take over all agency activities from Fiege Logistics LTD, which successfully represented UASC in the Swiss market for 24 years. The change in representation in Switzerland is part of UASC’s growth plan and customer-focused strategy…

Shipping market prospects picking up after record downturn; shipbroker M&A deals have gathered pace this year. ICAP's shipping business is in merger talks with rival shipbroker Howe Robinson, the latest potential tie-up among sector players looking for scale after years of freight market turmoil. The shipping industry has suffered one of its worst ever downturns in the past five years. Owners ordered large numbers of vessels between 2007 and 2009, just as the global economy started to slow. Prospects have brightened recently as world trade picks up and the glut of ships is absorbed, but recovery remains fragile. In the meantime, many shipbrokers view larger operations with global teams as the best way to position for a full market revival.

Transportation and consulting services firm McQuilling Partners, Inc. says it has reached an agreement with Seaways Shipping and Logistics Limited (SSLL) to establish Seaways McQuilling Private Limited. Through offices located in Mumbai and New Delhi, the core business of the company will be to provide tanker, dry bulk, chemical and offshore brokerage services, as well as research and logistics consultancy within India and its related markets. McQuilling Partners and its companies has delivered over forty years of international marine transportation services and consultancy experience to Seaways McQuilling Private Limited, while Seaways provides over two decades of integrated shipping and logistics expertise to the partnership, specifically in India. Capt. Capt. P.V.K.

International maritime logistics expert Cory Logistics, part of Braemar Shipping Services plc, has formed a joint venture with universal supply chain specialist Navarm Limited to create a single source provider for a full suite of maritime and land based services for the nuclear new build industry. Based in Somerset, U.K., Cory-Navarm will serve the nuclear industry, particularly in the West Country where EDF Energy is developing the Hinkley Point C power station, and other energy-related projects with a need for maritime and land-based services.

“The maritime industry will become more and more important for India in the coming years,” said Tobias König, Founder and Managing Director of König & Cie. GmbH & Co. KG, an issuing house based in Hamburg, Germany. A representative of König will be present at the accompanying conference at SMM India 2009. This is the first shipbuilding trade fair on the Indian sub-continent, taking place under quality label of SMM, the leading shipbuilding fair. It is organised by Hamburg Messe und Congress GmbH (HMC) and the two partners and co-organisers INTER ADS Exhibitions Pvt. Ltd. (the largest Indian trade show organiser) and E. J. Krause & Associates, Inc. (a globally active U.S. event specialist), at the Bombay Exhibition Centre in Mumbai from 12 to 14 November 2009.

Alnmaritec, an aluminum boat builder based in Northumberland, UK, recently announced the delivery of a new general purpose line handling and harbor support work boat to Western Australia. The “Wave Train” was built for South Sea Logistics Ltd., based in Geraldton, Western Australia. She is a customized version of the “Wave Angler” class of vessels from Alnmaritec and is the first boat that the company has ever sold to Australia. “Wave Train” is an aluminum asymmetric catamaran 10.15 long and 4.8m wide with a displacement of around 11 tons.