Marine Link
Thursday, January 18, 2018

Reports Increased News

MeasureMate Reports Increased Savings

Shipowners choosing MeasureMate have achieved savings in external steel condition assessment. Such was the case during recent class renewals of the world's largest ULCCs: Jahre Viking and Jahre Pollux. "We estimate the combined savings of these two ships alone to be around $600,000," said Jann Terje Anderssen, R&D manager, Red Band.

UK Marine Industry Continues Growth

File image: UK Flag

The U.K. leisure, superyacht and small commercial marine industry continue to grow, according to new statistics published today by British Marine at the London Boat Show 2016. Growth in domestic consumer markets has helped off-set a tricky year for exporters who are still feeling the effects of a sluggish Eurozone and the wider global economic conditions felt by most U.K. business sectors. Inland hire, charter and passenger boat services have performed particularly well, capitalising on the increasing popularity of the U.K. with international visitors and the growth in U.K.

J.B. Hunt: Boost in Intermodal Business

Photo:  J.B. Hunt Transport, Inc

J.B. Hunt Transport Services, one of the largest transportation companies in North America, reported increased profits in the third quarter as demand grew for transporting shipping containers. The company reported third-quarter earnings of $115.1 million,  surpassing Wall Street expectations. It posted revenue of $1.59 billion in the period, here also missing Street forecasts. Seven analysts surveyed by Zacks expected $1.62 billion. Profits were driven by improving margins in the company’s intermodal unit…

Shipbuilders STX Europe Report Good Earnings in Q2

STX Europe report increased operating revenues, but cruise & ferry sector showed lower than expected activity in Q2 2012. STX Europe achieved operating revenues of NOK 5 651 million in second quarter 2012, an increase of NOK 782 million compared to corresponding period 2011 (Q2 2011: NOK 4 869 million). Profit before tax for second quarter 2012 of NOK 370 million (Q2 2011: NOK 407 million). Second quarter shows satisfactory EBITDA results from STX OSV, whilst Cruise & Ferries business area is still experiencing lower than expected activity levels. STX Europe will continue to focus on securing new orders. STX Europe AS repaid about NOK 102 million (US$17million) of bank loan during Q2.

Lockheed Martin Show Growth in Q! 2012 Results

Lockheed Martin Corporation (NYSE: LMT) reports first quarter 2012 net sales of $11.3 billion compared to $10.6 billion in 2011. Earnings from continuing operations during the first quarter of 2012 were $665 million, or $2.02 per diluted share, compared to $556 million, or $1.57 per diluted share, in 2011. Cash from operations during the first quarter of 2012 was $458 million, after pension contributions of $505 million and tax payments of $150 million, compared to cash from operations of $1.7 billion during the first quarter of 2011, which benefited from a tax refund of $236 million and no pension contributions. "Our strong first quarter results reflect the strength of our portfolio and the commitment of our team to deliver value to our customers and shareholders…

Manitowoc Reports 4Q Results

The Manitowoc Company, Inc. reported increased revenues and strong cash flow for the fourth quarter and full year ended December 31, 2002. Net sales for the fourth quarter were $400.4 million, increasing 47 percent from $271.8 million in the fourth quarter last year. Including special items, the company reported a net loss for the quarter of $25.1 million, or a loss of $0.94 per diluted share. Excluding special items, earnings were $5.3 million, or $0.20 per diluted share, compared with $8.6 million, or $0.35 per diluted share, in the fourth quarter of 2001. Full-year net sales increased 34 percent to $1.41 billion from $1.05 billion in 2001, primarily as a result of the Grove and Potain acquisitions.

Northrop Grumman Reports 1Q Results

Northrop Grumman Corporation reported first quarter 2002 net income of $149 million, or $1.27 per share, compared with net income of $132 million, or $1.81 per share, for the same period of 2001, adjusted for SFAS No. 142 - Goodwill and Other Intangible Assets. The comparable per share decline reflects a substantial decrease in pension income and increases in interest expense and in the number of shares outstanding. On an economic earnings basis, the company reported increased earnings of $170 million, or $1.45 per share, compared with $101 million, or $1.39 per share, for the same period of 2001. 2002 earnings per share are based on average diluted shares outstanding of 112.8 million versus 72.8 million for the first quarter of 2001.

APM Terminals Q2 2014 Profit, Volume Growth

Image courtesy of APM Terminals

In its second quarter ended 30, June 2014 APM Terminals reports increases in both profits and container volume throughput. AgreementreachedtodivestAPMTerminals Virginia, Portsmouth, USA with an expected completion during Q3. APM Terminals delivered an increased profit of USD 223m (USD 179m) in Q2, driven by a strong volume growth of 8% with new terminals contributing by 2%. Additions to the network came mainly from the acquisition of NCC Group Limited by Global Ports Investments PLC, Russia in 2013 and ramp-up in the jointly owned Brasil Terminal Portuario in Santos, Brazil.

Bottled Water Sales to Shippers on the Rise

Photo courtesy Hutton’s Group

Hutton’s Group, a ship supplier in the U.K., reported sales of bottled water are up 30% on last year’s figures. The Hull-based supplier to the international shipping industry said it sold almost 40,000 large bottles of still water and nearly 20,000 small bottles this January alone, with sales of sparkling water (particularly popular with eastern European customers) growing too. The company said its January water sales equate to more than 13,000 liters. Alex Taylor, Hutton’s Group Managing Director…

Port of Ystad Posts Record First Half

(Photo: Port of Ystad)

Port of Ystad, which saw record-breaking volumes in 2015, continues reaching new record numbers in 2016 for traffic to and from Poland and the Danish island of Bornholm. The number of ton goods, trucks, busses, cars and passengers all showed an increase during the first half of 2016 compared to the same period last year. The biggest reported increase was the number of trucks with an 18.6 percent increase. In total 110,000 trucks passed through the port – a new record for Port of Ystad. The number of ton goods surpassed 1,650,000, also a port record with a 13 percent increase.

Brazil's Wilson, Sons, Record Increase in Towage, Offshore Business in Q1 2012

The Company recorded Net Revenues of USD 157.2M, in line with 1Q11 figures. There was, however, healthy increase in Towage (up 34,9%) and Offshore (up 12,5%), due to better pricing and an increase in the number of vessels in operation. Currently, the Company has 3 tugboats and 5 PSVs in different phases of construction at the Guaruja Shipyard. The strategy to increase and renew its fleet is part of the Company's desire to meet the demand in the oil & gas industry and international trade flow. The new Guaruja II shipyard, the new Offshore and Towage vessels, and Tecon Salvador's expansion works are the major contributors to the quarterly CAPEX of USD 43.0M.

Marine Diesel Engine – MAN Uprates Genset

The company reports that it will uprate the unit by, crucially, just under 10% of current values. This move dispenses with the need to apply for a completely new type approval, as would be demanded by many classification societies, and significantly reduces costs and development. The L23/30H Mk. 2 will be matched to meet Tier-II emission requirements. Generally speaking, the GenSet’s characteristically long TBOs remain unchanged at 16,000 hours – 720/750 rpm and 12,000 hours – 900 rpm. MAN Diesel & Turbo states that all necessary production documentation for the Mk. 2 version has been released. The company also reports that the 5L23/30H GenSet will still be available with 130 kW per cylinder at 720 and 750 rpm, which is unchanged in relation to the present version.

Slow Start for Tanker Rates in New Year

Berlian Laju Tanker. Pic by mapelveiculos.com.br

A super year for the VLCCs behind us which ended at earnings Meg/East close to $100k/day, says Fearnleys Week. The new year has started somewhat slower and rates ex Meg are off the peaks, but earnings remain very healthy. Continued interest for period is keeping the momentum going and rates ex Meg seem to withstand charterers fierce attempts to shave further off the rates. Close to two thirds of the January program covered so far in the Meg and further direction dependent on what is left before the BOT Feb stems are available only in a week or so.

Hercules Offshore Reports Q3 Earnings Rise

Hercules Offshore Inc. a provider of shallow-water drilling and lift boat services to the oil and natural gas exploration and production industry, announced financial results for its third quarter, reporting increased profit from higher revenues. The Houston, Texas-based company reported third net income of $29.7 million or $0.90 per share, compared to $10.1 million or $0.41 per share in the third quarter of 2005. Quarterly revenues grew to $97.2 million from $42.2 million in the corresponding quarter prior year. During the third quarter revenues from Domestic Contract Drilling Services were $46.4 million, compared to revenues of $28.2 million in the third quarter of 2005. International Contract Drilling Services revenues were $7.9 million in the third quarter of 2006.

Demand rises for C-MAP weather forecasting service

C-MAP Norway reports increased demand for the weather forecasting service developed by C-MAP Marine Forecast, a business unit of C-MAP Norway. C-MAP Norway confirmed today that Green Charter, a business unit of the Bergen-based Green Reefers, recently ordered a subscription to the WeatherViewTM service for eight vessels. According to C-MAP marketing manager Willy Zeiler, the contract is further proof that the shipping industry has recognised the value of the weather forecasting service. "We are confident that as the industry becomes familiar with the innovative functionality and customised presentation of WeatherviewTM, demand will continue to rise," he says. The order placed by Green Reefers followed extensive testing about two of the company's vessels, Green Frost and Green Ice.

AMCV Files for Voluntary Petition, Reorganization Under Chapter 11

American Classic Voyages Inc., the largest U.S.-flag cruise company, announced on October 19 that it has filed a voluntary petition for reorganization under Chapter 11 Bankruptcy Code in Wilmington, Del. The company has ceased operations for its Hawaii vessels, the ms Patriot and the ss Independence, following the completion of their last cruises. cease operation at the completion of each vessel's cruise following the announcement. The Delta Queen steamboat, the company's National Historic Landmark flagship, will continue to operate its scheduled future voyages. In addition, AMCV said it intends to work with Northrop Grumman Corporation and the U.S.

Panama Canal Reports Increased Tonnage Flow

The Panama Canal Authority (ACP) announced today second quarter (Q2) operational metrics for fiscal year 2004. Q2 data reveals an increase in tonnage flow and a rise in Panamax vessel (the maximum size vessel that can pass through the Canal) transits. Moreover, there was a notable increase in Canal revenue. These metrics are based on operations from January through March of 2004, the second quarter of the ACP's 2004 fiscal year. Panama Canal/Universal Measurement System (PC/UMS) tonnage increased this quarter by 7.8 percent - to 68,188,071 PC/UMS tons compared with 63,268,516 PC/UMS tons reported in Q2 FY2003. A record set on March 16, 2004, of more than one million (1,005,551) net PC/UMS tons transited through the Canal in one day helped to bolster these numbers.

London Gateway Ups Security Measures

(Photo: DP World London Gateway)

Expanded use of converged security and information management platform will support physical and IT security program at DP World London Gateway. London Gateway, one of the U.K.’s major ports owned and operated by DP World, has implemented converged security and information management (CSIM) software port-wide to increase security and provide overall situational awareness capability. Situated on the north bank of the River Thames, the deep-sea container port is located next to Europe’s largest logistics park, providing shipping access to key U.K. consumer markets.

Port of Albany Reports Increase in Container Traffic

Mayor Gerald D. Jennings today announced that, in its first six months, the Port of Albany’s new container service has resulted in more than 325 containers passing through the Port, generating additional work for longshore labor, and successfully opening an exciting new chapter for business at the Port. “It has been a busy six months,” Mayor Jennings said. “Since April, over 325 containers have been handled at the Port, which is great news for our longshoremen, and promises a very bright future for Port of Albany. The new container cargo at the Port includes artificial Christmas trees, olive oil, tile, safety products and logs. In addition to this cargo, the Port of Albany continues to receive all of its traditional cargo including grain, molasses, heavy lift equipment and wood pulp.

Hapag-Lloyd Increase Q3 2012 Profits

Colombo Express: Photo credit Hapag Lloyd

Container ship owners Hapag-Lloyd report increased revenue and profits in the third quarter 2012. Hapag-Lloyd was able to increase freight rates, revenue and results in the third quarter, although the market environment remains challenging. The average freight rate rose year on year by 8% to USD 1,647/TEU. The rate increases initiated by Hapag-Lloyd in the first quarter and implemented in the second quarter had a tangible effect here. Transport volume in the third quarter amounted to 1.28 million TEU and revenue of EUR 1.765 billion was 15% higher than in the same period last year.

ARL To Launch New Program

ARL will be launching ShipConstructor2001 in March. ShipConstructor is an AutoCAD-based 3-D product-modeling system, providing shipbuilders with an easy-to-use, yet powerful 3-D software. ShipConstructor2001 provides lofting, structural modeling, nesting, outfitting, piping, and database system -- all in one. ShipConstructor is a scalable system that can be efficiently used for powerboats, tugboats, workboats, large ferries, container ships, and cruise ships. ShipConstructor has been successfully adopted by more than 100 shipyards and engineering companies worldwide. Customers report increased productivity of up to fifty percent not only in engineering, but also in production.

Veson Launches IMOS Demurrage Management

At the Connecticut Maritime Association 2010 Shipping Exposition, Veson Nautical, the premier provider of Maritime Enterprise Resource Planning (Maritime-ERP) solutions and services, announced that a new module, IMOS Demurrage Management for Charterers, is available to IMOS users. IMOS Demurrage Management supports the business needs of marine demurrage specialists with tools to track and improve claims performance and limit demurrage exposure to loss. IMOS Demurrage Management, analysis and workflow tools are designed to improve response time, throughput and claim results. Real-time voyage events  trigger automated alerts to ensure that all claim and re-bill opportunities are promptly recognized, while time bar driven work processes ensure that each claim is submitted on time.

Roxtec Sees Rise in Cruise Ship Repair Work

Graham O'Hare, Roxtec UK managing director (Photo: Roxtec)

Manchester cable safety seal manufacturer Roxtec has reported increased demand for its cruise ship cable and pipe seals. The firm has seen a 67 percent rise in sales for its watertight pipe and cable seals in the U.K. marine market in the last 12 months. Roxtec UK managing director Graham O’Hare said the firm’s plastic pipe seals are suited for cruise liners as they help reduce weight, ensuring operators use less fuel, lower a ship’s emissions and save money. “Roxtec seals can be used on deck penetrations and bulkheads and are increasingly being used on marine equipment too,” he said.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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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