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Sunday, January 21, 2018

Strong Growth News

Fifth Consecutive Record Year for Antwerp

Photo: Port of Antwerp

The port of Antwerp has achieved a record freight volume for the fifth straight year in a row. In 2017 the port handled 223,606,610 tonnes of freight, an increase of 4.4% compared with the previous year. Practically all sectors turned in an excellent performance: the container volume expanded in tonnage by 4.3% (123 million tonnes), liquid bulk such as oil derivatives by 5.7% (73.1 million tonnes), and conventional breakbulk such as steel by 4.8% (10.3 million tonnes), while ro/ro completed the growth list with 10.5% (5.1 million tonnes).

Westports Records Throughput of 9m TEUs

Photo: Westports Malaysia Sdn Bhd

Malaysian port operator Westports Holdings Berhad  recorded FY17 container throughput of 9m TEUs which declined 10% YoY, in-line with our expectation of a poorer throughput outlook for the year. The decline was mainly due to drop in transhipment, while cushioned by strong growth in the gateway. Meanwhile, full compliance of MFRS 15 effective FY18 should be earnings-neutral. No changes made to our FY17-18E earnings forecasts. Maintain MARKET PERFORM and DDM-derived TP of RM3.70. Westports announced an update on its full-year FY17 container throughput, reporting in at 9m TEUs.

US Dredging Invests in American Workers, Safe Navigation Channels

MAGDALEN (Photo courtesy of  AMP)

The American Maritime Partnership (AMP), the voice of the domestic maritime industry, has highlighted the U.S. dredging industry’s commitment to build and maintain safe, efficient and cost-effective navigation channels in the nation’s inland waterways and ports. The recent deliveries of four state-of-the-art vessels, constructed by nearly 700 American workers in U.S. shipyards, are a reflection of the U.S. dredging industry’s continued investment in building dredges with increased…

Weeks Marine Takes Delivery of Hopper Dredge Magdalen

Weeks’ new 350-foot hopper dredge, Magdalen, on her way to work (Photo: Weeks Marine)

Weeks Marine’s new self-propelled hopper dredge, Magdalen, was delivered by Eastern Shipbuilding on December 22 following sea trials and regulatory inspections. The newbuild is one of the two newest, and among the largest hopper dredges in the U.S., and will bring formidable pumping power to offload beach quality sand or other materials for land reclamation. On December 28, the new dredger sailed from Eastern's Allanton facility in Panama City, Fla. on her maiden voyage to the East Coast.

Good start for Jotun in 2004

more than for the same period in 2003. last year. more closely reflected the group's growth. Profit in 2003 was one of the biggest in Jotun's history. materials and reduced margins. total can be maintained at a satisfactory level and similar to last year. Middle East and South-East Asia. companies were higher than the previous year. in the Middle East. systems for mixing colors in stores. this area. year. influence on the division's profit. time and will not give rapid financial results. Norway. In Europe activity varied. in the USA sales increased.

STX Pan Ocean Orders LNG Carrier

STX Pan Ocean has ordered a LNG carrier from Korean shipbuilder Hanjin Heavy Industries and Construction. The 153,000 cubic meter vessel will be built at a cost of $215m. Delivery is expected before 2010. STX Pan Ocean recently reported a 71 percent jump in full-year earnings to $279.8m on a 20 percent increase in sales to $2.7b. Profits had been driven by a strong growth in its core dry bulk shipping business. (Source: Channel News Asia)

Seaspan Announces $235.3m in Debt Financing

Seaspan Corporation has entered into a credit agreement for a term loan facility in the amount of $235.3m to finance the acquisition of two of its previously acquired 13100 TEU vessels. The facility has been fully underwritten by Sumitomo Mitsui Banking Corporation at a weighted average rate of 0.70% over LIBOR. Since January of 2007, Seaspan has raised more than $2.2b of debt at a weighted average margin of less than 0.60% in support of its strong growth initiatives.

Northrop Grumman Q1 Profit Up 20%

According to a May 3 report from The Associated Press, Northrop Grumman Corp. said its first-quarter profit increased 20 percent, led by strong growth in shipbuilding. Business improved for nearly every sector in which the company operates, except for a 1% decline in information systems. (Source: The Associated Press)

BV Posts Strong Growth Again

Bureau Veritas announced strong growth in 2005, its tenth consecutive year of growth. BV increased turnover to $2 billion, up 16 percent over 2004. Bernard Anne, managing director of the marine division of Bureau Veritas, says, “Focusing technology and delivering it where and when it was needed brought strong growth to both Bureau Veritas and its clients during 2005. Overall, the Bureau Veritas group grew across every industry on the planet, reinforcing its leading position as by far the largest and strongest body involved in ship classification and certification. Bureau Veritas today is a service company specialising in quality, health, safety and environmental management and social accountability.

Tanker Freight Rates Could Weaken in 2016

Crude tanker utilization (%) (Source: Drewry Maritime Research)

Tanker shipping freight rates are expected to remain firm in the first few months of 2016, but with the influx of tonnage these rates are expected to soften towards the end of the year, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry. Four major factors led to the big leap in tanker earnings in 2015: strong growth in oil trade, sluggish expansion of the fleet, a sharp increase in floating storage and lower bunker prices.

Will China's Economic Slowdown Affect Latin America Trade?

Erik Bethel, of SinoLatin Capital addressed the question at recent Latin America China Investors Forum in Shanghai. Amidst much speculation regarding the slowdown of China’s GDP, with 2012 estimates likely to fall below 8%, SinoLatin Capital dispelled fears of a “China Meltdown” to an audience of 500 delegates from Latin America and China. “Latin America will continue to be an indispensable commodities supplier for China. “The majority of the China analysts in the western media are focused on the short-term,” noted Bethel. “Will China’s GDP growth decline by one percent or by two percent this year? I think people are missing the more important medium and long-term picture. The China story is about demographics and urbanization.

Ecoslops Production Doubled

Image: Ecoslops

Ecoslops, an innovative technology company that upgrades ship-generated hydrocarbon residues into valuable new fuels and light bitumen,  announced key achievements for the first half of 2017. Ecoslops has confirmed the excellent performance of the first industrial micro-refinery unit (P2R) in the Port of Sines, Portugal and the strong growth dynamics of its production. Production doubled, from 6,050 tonnes to 12,200 during the same period last year and sales in tonnes amounted to 9,700, vs. 3,700 in H1 2016.

New CEO for Evergas

Mr. Steffen Jacobsen is appointed as CEO courtesy Evergas

Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk. He brings a wealth of leadership experience in both commercial and technical management, having amongst other positions headed Maersk Tankers fleet management for 9 years. Before that he held both operational and commercial leadership positions in Maersk Tankers, Maersk Contractors and Maersk Drilling. The Chairman of Jaccar Holdings Mr. Jacques de Chateauvieux says "I wish to…

HB Rentals Predicts Strong Future as it Wraps up North Sea Project

Norman Porter (left), Business Unit Director Europe, Middle East, Africa and Asia Pacific and Ross Williamson, Project Engineer. (Photo: HB Rentals)

HB Rentals, a supplier of temporary onshore and offshore accommodation modules, said it expects strong growth after completing a custom build project for Wood Group PSN. The project believed to be worth in excess of £1,000,000 involved the firm designing, engineering and manufacturing a complex consisting of three separate modules that connect to produce a single living and work space on the Arbroath platform, central North Sea. HB Rentals Eastern Hemisphere business director…

APL Offers New East Africa Service

APL launched a new East Africa Express (EAX) service. The weekly EAX service will connect the Indian subcontinent and Arabian Gulf to East Africa. Trade from the Far East bound for East Africa will depart from Colombo, Sri Lanka, and Nhava Sheva in India. The port at Nhava Sheva will also serve cargoes originating from the Indian subcontinent and Arabian Gulf, alongside ports in Pakistan and the United Arab Emirates. Jason Wong, APL’s Vice President, Intra-Asia, Middle East & Australia Trade, said: “Africa is an expanding economy which continues to report impressive GDP growth, averaging about 5% annually in the past six years. In East Africa, economic growth is projected to accelerate to around 6% in 2007 and 2008.

Portuguese Flag Reports Strongest Growth Rate in Europe

Portugal’s second shipping register, the International Shipping Register of Madeira (MAR), is currently the strongest-growing flag in Europe. In the last six months, MAR’s fleet has increased by more than 60 new vessels representing net growth of 130% in terms of tonnage. Among the new entrants to the register are vessels owned by more than 20 of Germany’s leading companies. The growth has been achieved since Sociedade de Desenvolvimento da Madeira (SDM), the official body responsible for promoting MAR, established a strategic partnership with European Mar Lda (Euromar) in Funchal and Hamburg, run by former Liberian Registry executives Dr. Albrecht Gundermann and Captain JörgMolzahn.

Ro-Ro Volumes at Ports of Stockholm Thrive

Courtesy Ports of Stockholm

High volumes of RoRo freight in December generated the strongest end of year monthly figures at Ports of Stockholm since 2011. Freight volumes in the RoRo segment, goods transported by haulage vehicles on ferries, were higher than the December totals for the previous three years. The total turnover reached 436,000 tonnes. “We are very pleased with this strong end to 2015 and we are anticipating continued strong growth in 2016,” says Henrik Widerståhl, Marketing Director and Deputy Managing Director at Ports of Stockholm.

AVEVA Trading Update

Overall the Group's interim results for the six months ended Sept 30, 2008 are expected to show strong growth over the same prior year period. The Group continues to experience strong demand in each of its principal end user markets of oil and gas, power and marine. Geographically Asia Pacific and Central Eastern & Southern Europe remain particularly strong with good customer wins across all our main markets. With a less pronounced split of profits expected between the first and second halves of the financial year, the performance to date and current sales prospects give the Board confidence that the Group is on track to achieve results for the current year towards the top end of current analyst forecasts.

Port of LA Posts Busiest May Ever

Photo: Port of Los Angeles

Overall cargo volumes at the Port of Los Angeles increased nearly 11 percent in May compared to the same period last year, marking the busiest May in the Port’s 109-year history. Total volumes registered at 770,409 Twenty-Foot Equivalents (TEUs), with container growth of 8.7 percent for the first five months of 2016 compared to last year. “The strong growth both on the import and export side is encouraging as we continue to explore ways to improve supply chain efficiencies,” said Executive Director Gene Seroka. May loaded imports increased 15 percent to 400,765 TEUs.

Port of Houston Expecting Record Cargo Year

Photo: Port of Houston Authority

“We fully expect to top last year’s container volume with another record year in 2016,” said Roger Guenther, Port of Houston Authority Executive Director, speaking to the Port Commission during its latest meeting. The Houston Port Authority said it has handled more than 1.6 million TEU through its container terminals to date this year, and it expects to maintain “strong growth” through the remainder of the year. All told, the port’s general cargo and container terminals handled more than 26 million tons of cargo through September.

ABB Wins LNG Propulsion Contract

Chantiers de l´Atlantique, ALSTOM Group, has awarded ABB Marine a contract to supply the electric propulsion system for a new 153,000 cu. M. LNG carrier, owned by Gaz de France. The vessel will be built in France by Chantiers de l´Atlantique and delivered in 2005. The supply of medium voltage power systems to LNG carriers has been a strong growth area for ABB. According to Martinus Brandal, head of ABB´s global Marine business, “In the last three years, we have received orders for medium-voltage systems for 23 LNG carriers with conventional steam turbine propulsion. To the new Gaz de France LNG carrier, ABB will supply a complete propulsion drive system in a redundant electrical configuration.

P&O Business Remains Firm

British shipping firm Peninsular and Oriental Steam Navigation Company said that overall trading conditions at its core ports, ferries and logistics businesses had remained firm in the fourth quarter. The company, which de-merged its cruise business last year, highlighted strong growth in its ports unit but said trading in the ferry business had been "reasonable" despite higher fuel costs. Contract logistics had a good fourth quarter though the weakness of the euro hurt unit loads, while cold logistics hit high growth levels. The company added that its container shipping subsidiary P&O Nedloyd was also expected to finish the year strongly. - (Reuters)

Port of Melbourne Plans Large Expansion

Premier Ted Baillieu and Minister for Ports Denis Napthine announce trade figures at the Port of Melbourne surged in the 2011-12 financial year with a 9.1 per cent overall increase at Australasia’s busiest container and general cargo port. Mr Baillieu said in the 2011-12 financial year total port trade grew to 87 million revenue tonnes up from 79.7 million revenue tonnes in the previous year. Dr Napthine said the Port Expansion Project would ensure the Port of Melbourne continued to be a key economic asset for the state for many decades to come. “The Port of Melbourne is an absolutely critical component of the Victorian economy, directly supporting about 14,000 jobs and many more indirect jobs throughout the state.

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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