Logistics Subsidiary News

State oil giant Abu Dhabi National Oil Co (ADNOC) plans to float its marine and logistics subsidiary in the coming months, two sources said, the second initial public offering of one of its businesses this year.ADNOC, which raised $2.5 billion from listing its gas business in March, is gearing up for a June listing of ADNOC Logistics & Services (ADNOC L&S), said the sources, declining to be named as the matter is not public.HSBC was appointed as joint global coordinator on the syndicate this week…

Container shipping group CMA CGM on Friday reported higher second-quarter profits and said it expects results to improve again in the current quarter as the shipping sector recovers quickly from disruption caused by the coronavirus pandemic.French-based CMA CGM recorded a net profit of $136 million for the second quarter compared with a year-earlier $109 million loss.Core earnings before interest, tax, depreciation and amortisation rose 26% to $1.2 billion as favourable freight rates and reduced costs, linked to lower oil prices and an efficiency programme, offset a drop in sales caused by the

Japanese shipping major Mitsui O.S.K. Lines (MOL) celebrated a major milestone-25 years since the launch of MOL business operations in Indonesia.The carriers of containerized and other cargo said in a press note that it has hosted a party in Jakarta for about 200 attendees, including customers to celebrate 25th anniversary. Among those on hand for the party were Japanese Ambassador to Indonesia Masafumi Ishii, and representatives of MOL's business partners.MOL President & CEO Ikeda addressed the gathering, saying, "Indonesia is expected to show further economic growth on the back of its abundant energy resources; it is also a vast land to the world's fourth-largest population…

Adnoc Logistics & Services (Adnoc   L&S) announced that it has reduced fuel consumption and carbon emissions by 23% across a fleet of 27 vessels.The marine and logistics subsidiary of the Abu Dhabi National Oil Company (Adnoc ) said in a press release that the ‘Al Daffah Energy Efficiency Project’ is one of many ongoing initiatives by the shipping and logistics giant to deliver greater operational efficiency and a more competitive offering to its customers.As the owner and operator of 27 shipping vessels and a total fleet of 122 shipping and offshore vessels, the impact of the project has been significant, as bunkering costs represent one of the largest operating expenses for operators.Since 2013, Adnoc L&S has reduced its CO2 emissions by 1 million tons.

A delegation from Hamburg was in China from 14 to 18 May, visiting companies in Zhengzhou, Shanghai and Hangzhou. Organized by Port of Hamburg Marketing (HHM) in cooperation with the Hamburg Representative Office in Shanghai, the delegation’s tour was led by Axel Mattern, HHM’s Joint CEO, and Mathias Schulz, its Head of Market Development Asia. The delegation included representatives of TCO Transcargo, Rostock Port, Trelleborgs Hamn, Hamburg Port Authority (HPA) and Hamburg Invest. The focus was on discussions with leading import and export companies, along with Chinese logistics providers for sea and rail services. In addition, the delegation was extremely impressed by developments on the expansion of Chinese infrastructure.

MSC Mediterranean Shipping Company, a global leader in transportation and logistics, is pleased to announce the launch of a new freight rail service between Seville, Spain, and the Atlantic, beginning 4 April 2018. The service is expected to run daily between Seville’s inland maritime port – Puerto de Sevilla – and the major coastal port hub of Sines, Portugal, with a capacity of more than 100 TEU (twenty-foot equivalent unit) per return journey. Shippers will have the possibility to obtain customs clearance for cargo at Seville’s inland maritime port, before onward carriage to Sines and Atlantic markets. MSC’s new rail service will…

The Japanese shipping company  Mitsui O.S.K. Lines, Ltd (MOL) will restructure its organization effective April 1, says a press statement from the company. MOL is establishing the Product Transport Business Unit, under which much of the carrier and port divisions will reside. It has also submitted an application to establish a logistics subsidiary in India. The company will establish the Product Transport Business Unit to create the cross-sectional system “One MOL” to promote businesses in the product transport field and further meet customer needs. The company will establish the One MOL Business Strategy Execution Office in the Corporate Planning Division as an organization that engages in division/area cross-sectional business promotion…

* Volumes carried during the second quarter increased by 6.2% year-on-year, to 3.3 million TEUs, compared to global market volume growth of between 1% and 2%. * Average revenue per container carried decreased by 7.8%. However, this decrease was significantly less than benchmark indices for the period due to the broad diversity of the Group's customers and lines. * Unit costs fell 10.9%, largely due to the sharp fall in oil prices. * Core EBIT surged 59.3% compared to the second quarter of 2014 to $325 million, as the Group’s lower unit costs outpaced the decline in average revenue per container carried. The core EBIT margin of 7.9% was once again significantly above peer averages. * Consolidated net profit group Share came to $156 million, up 66.7% on second-quarter 2014.

Container shipping company CMA CGM’s board of directors met under the chairmanship of Jacques R. Saadé, chairman and chief executive officer, to review the financial statements for the first quarter of 2015. For the first quarter of 2015, CMA CGM reported a rise in volumes by 10.5 percent to 3.1 million TEU, chiefly resulting from the increase in volumes on the East-West lines, particularly to and from the U.S., where volumes enjoyed sustained growth, and also from the launch of the Ocean Three Alliance.

A consortium led by France's Bollore failed to make the final shortlist of firms vying to manage a new container terminal in Cameroon's southern port of Kribi, according to a commission report seen by Reuters on Monday. The government commission, charged with recommending a container terminal manager, shortlisted Philippines-based ICTSI and port operator APM Terminals, a unit of shipping and oil conglomerate A.P. Moller-Maersk. The commission said in its report it had reservations over the sustainability of the proposal from Bollore's consortium and found the offers from ICTSI and APMT to be the most plausible. "The Commission accepted the offers of ICTSI and APMT as being the most advantageous for Cameroon and the central African sub-region," it said.

Matson Inc. wins 2012 CIO 100 award from CIO magazine for exemplified operational & strategic IT performance . Ocean transportation and logistics company Matson wins the award a second time for its multi-year IT initiative, known as miLogistx, that was designed to support growth for its logistics subsidiary, Matson Logistics, Inc. Matson was one of four transportation companies honored this year, along with FedEx Corp., Amtrak and Old Dominion Freight Line. Other recipients included AT&T Services, IBM, Intel, Pfizer, Procter & Gamble, Verizon Wireless and the U.S. Department of Transportation. "Over the past decade, Matson Logistics had expanded through a combination of organic and acquisitive growth," said Peter Weis, vice president and chief information officer.

B.Sc. (Eng.) Lars Hellberg (45) has been appointed Group Vice President, Head of Engine division and member of the Board of Management as of June 1, 2004. He joins Wärtsilä from Saab Automobile AB in Trollhättan, Sweden where he currently is Executive Director for Customer Satisfaction and Quality. Before joining Saab in 2001, Mr Hellberg has pursued a long career for Volvo in Sweden and in the Netherlands. He has held management positions related to engine and vehicle development, manufacturing and logistics, subsidiary management, corporate business processes, revenue management and global sales. Hellberg joining Wärtsilä now will ensure a smooth change of command during the summer and autumn well in time before Sven Bertlin is due to retire.

Lauritzen Cool Logistics (LCL) the logistics subsidiary of reefer vessel owner and operator NYKLauritzenCool, provides customized multi-modal and multi-destination door-to-door logistic services for perishables and reefer cargo. After establishing in major producing and consuming areas such as Latin America, South Africa, North Europe and the USA, LCL started its expansion in the Mediterranean region in January 2005 by opening LCL Iberia in Valencia.