Marine Link
Friday, January 19, 2018

Strong Year News

Milaha Reports 32.8% Q4 Net Profit Increase

     Photo courtesy of Milaha

Qatar Navigation (Milaha) Q.S.C. increased fourth quarter net profit 32.8 percent, the company announced today in its 2014 financial results. It will pay a 55% cash dividend for 2014, a value of 5.5 Qatari Rials ($1.51) per share. The company said it increased its net profit 10% in 2014 over 2013, from QR950 million ($260 million) to  QR1.059 billion ($290 million). The Gas & Petrochem segment had an extremely strong year relative to 2013, as VLGC market rates hit record highs, and product tankers profits benefited from  higher freight rates.

Schat-Harding Books Strong Year

Schat-Harding, a maker of lifeboats and davits, reported a strong orderbook in the third quarter of 2004, with orders totaling $16 million booked, driven by strong demand from passenger ships, offshore rigs, LNG and ice-class tankers and naval vessels. Key passenger ship orders included six CTL38 cruise tenders and 14 MPC32 compact cruise lifeboats with PD davits for two MSC newbuildings at Chantiers de l'Atlantique, eight MPC32 boats and VIP davits for a series of RoPax building at Italy's Visenti yard, and two MPC32 boats with davits for the lengthening of the RCCL Enchantment of the Seas. Offshore orders included two KISS800 systems for the Atwood Beacon rig, four KISS boats and davits for Pemex and two MCB 600 boats for the Dolphin Energy project.

Manitowoc Reports Record Results For 1999

The Manitowoc Company, Inc. reported record financial results for both the fourth quarter and full year ended December 31, 1999. This was the company's fifth year of record financial results and its 17th consecutive quarter of improved year-over-year earnings growth. Net earnings for 1999 increased 30 percent to $66.8 million, or $2.55 per diluted share, from $51.4 million, or $1.97 per diluted share, in 1998. Net sales increased by 16 percent to $805.5 million in 1999 from $694.8 in 1998. Each of the company's three business segments - foodservice equipment, cranes and marine services - reported strong year-over-year net sales and earnings gains.

Monico Promotes Walker Sales VP

Following another strong year for the company, President and CEO, Doyle Taylor, has promoted his Vice President of Sales, Allen Walker, to Vice President and General Manager of the Monico Monitoring, Inc. Taylor brought Walker on board in September of 2012 as Vice President of Sales to oversee the company’s ever-growing product sales and expanding sales staff, to utilize his business and management experience to bring more structure and drive to the company’s sales process and to grow international sales. After just one year in the position, Walker has exceeded expectations. Prior to joining Monico, Walker served as Vice President of Global Sales for PECOFacet and Managing Director of Facet Deutschland GmbH, both Clarcor Companies, and was also an officer of Perry Equipment Corporation.

Strong Finish To A Strong Year In Oslo

A December rally on the Oslo Stock Exchange gave maritime shares an extra glitter and ensured a strong finish to an already strong year. Shipping and offshore shares performed marginally better than shares on the general Oslo market during 1999, rallying 8.6 percent in December to finish the year a solid 48.0 percent above last year's close. The All Share Index, which includes all shares on the Main List, was up 45.5 percent for the year, and shaking off the dismal record in 1998 when the index dropped 26.7 percent. The All Share Index is still 4.4 percent away from its all time high, while the Shipping Index is 24.4 percent below its top mark.

Milaha Reports Improved Net Profit for Q1

HE Sheikh Ali bin Jassim Al Thani

Qatar Navigation (Milaha) Q.S.C. has announced its financial results for the three months ended March 31, 2015, in which it reported operating revenues of QR 786 million vs. QR 699 million for the same period in 2014, an increase of 12% quarter over quarter. Operating profit of QR 279 million vs. QR 273 million for the same period in 2014, an increase of 2% quarter over quarter, net profit of QR 365 million vs. QR 349 million for the same period in 2014, an increase of 4% quarter over quarter, and earnings per share of QR 3.21 vs. QR 3.08 for the same period in 2014.

Port of Hueneme Celebrates Record FY 2013

Photo courtesy Port of Hueneme

The Port of Hueneme, on the US West Coast, says it realizes another strong year in FY2013 achieving a record revenue total of approximately $13.4 million in Gross Operating Revenue for a 10.4% increase over FY 2012. The Port’s CEO, Kristin Decas and CFO, Andrew Palomares submitted the auditor’s report to the Port’s Board of Harbor Commissioners at its recent Commission Meeting. Commissioner President, Jason Hodge, noted "The numbers tell a very positive story about the Port’s financial performance and show our commitment to fiscal responsibility.

Trafigura Expects Tougher Shipping Markets in 2016

Commodities trading firm Trafigura expects tougher conditions in tanker markets next year as weaker world economy prospects and a slide in oil prices are set to take their toll on shipping. Bargain hunters picking up cheap crude after the price drop and refineries, which have been very busy meeting rising demand, have helped tanker markets experience their best earnings in years after a long period of losses. Rates for crude supertankers have soared in recent weeks to over $110,000 a day - their highest since 2008. Trafigura, one of the world's leading shipping market players, said it had enjoyed a strong year helped by low fleet growth and buoyant demand to transport both crude and oil products.

Port Metro Vancouver Posts Healthy Growth 1H 2012

Canada's largest & most diverse port releases its 2012 mid-year results, posting growth of 6% overall. The 2012 mid-year statistics report shows that Port Metro Vancouver handled 62.3 million tonnes of cargo through the end of June and is on track for another strong year. The half-year throughput volumes reflect the success of Port Metro Vancouver's collaborative approach with our senior government partners, terminal operators, shippers and land transport logistics suppliers to improving sustainability, capacity and efficiency. Total foreign tonnage at Port Metro Vancouver posted a six per cent increase with 49 million tonnes. Total domestic tonnage increased by six per cent to 13.3 million tonnes.

Satcom Global Opens Office in Perth

“ Opening our new office in Perth puts us in the best position to support and service the requirements of our valued customers and channel partners in the West.

Following a strong year for the satellite communications provider, Satcom Global announced the opening of new office in Perth, in order to better serve their valued customers and partners in Western Australia. As a trusted and experienced satellite communications provider, Satcom Global has been reliably serving the Australian market for over 14 years, and the Satcom Global Oceania team boasts friendly experts across the country including Sydney, Brisbane and now Perth. The new Perth office will provide dedicated sales and account management…

Euroseas Orders Two Drybulk Newbuilds

Euroseas signs new building agreements for the acquisition of two fuel efficient kamsarmax drybulk carriers and announces new acquisition for its joint venture Euromar. Euroseas Ltd., a Greek owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it has signed a contract for the acquisition of two Eco design kamsarmax fuel efficient drybulk carriers. The vessels will have a carrying capacity of 82,000 dwt each and will be built at Jiangsu Yangzijiang Shipbuilding Co. The two newbuildings are scheduled to be delivered in the fourth quarter of 2015 and in the fourth quarter of 2016. The total consideration for these two newbuilding contracts is a bit below $60 million.

Port Everglades Named As Fast Growing Containerport

Broward County’s Port Everglades has been ranked as one of the five fastest growing container ports among the nation’s 20 largest seaports, with a 16 percent increase in containerized cargo from 2003 to 2004, according to newly released year-end data by the P.I.E.R.S. Trade Information Service. “We’re celebrating another year of dramatic success in our container business, which is due in part to an expanding diversification of container routes and services,” said Port Director Ken Krauter. Over the 12 months January through December 2004, containerized cargo at Port Everglades has grown 16 percent from 429,315 loaded TEUs (20-foot equivalent units – the industry’s standard for measuring containerized cargo) in 2003 to 499,701 TEUs in 2004.

Port of LA Breaks Record

For the second consecutive year, the Port of Los Angeles experienced record-breaking exports as outbound container volumes surged 14.5 percent in 2011 compared to 2010. Imports also increased 2.3 percent compared to the previous year. Total annual volumes, including empty containers, rose 1.4 percent. Complete statistics are available here. “We’re fortunate to have stronger year-over-year results in 2011 but we are not resting on our laurels as the nation’s premier trade gateway,” said Los Angeles Mayor Antonio Villaraigosa. “That’s why we are investing $1.5 billion in capital improvements over the next five years. “2011 was our second straight year of record exports and it’s an example of how our Port is prepared to handle a shift in global trade patterns…

Singapore 2016 Bunker Volumes at Record High

The Maritime and Port Authority of Singapore (MPA) expects 2016 sales of bunker fuel for ships to rise to a record for a second consecutive year, with early estimates showing volumes increased 7.7 percent to 48.6 million tonnes, it said on Wednesday. This compares with the 45.2 million tonnes sold in 2015. "It's really no surprise we broke the record, 2016 was a strong year for Singapore bunkers," said a Singapore-based bunker fuel trader who declined to be identified as he is not authorised to speak to the media. Volumes of marine fuels sold in Singapore averaged 4.1 million tonnes a month in 2016, compared with 3.8 million tonnes a month in the previous year.

GL-Classed Fleet Grows 8%

The total fleet of merchant ships classed with Germanischer Lloyd (GL) increased by 8 per cent in 2003, to 44.1 million gross tons (gt). To assist with the growing workload, the classification society boosted its workforce by almost 9 per cent, to 2,148 employees, during the year. The fleet growth rate matches the figure the classification society had planned to achieve at the start of 2003 and marks another strong year of expansion for GL. Over the last seven years the society has achieved an average annual growth in its classed fleet of 10 per cent per annum in tonnage terms. This is the highest rate of all the members of the International Association of Classification Societies (IACS) over the period. A total of 263 new ships of 3.5 million gt built to GL class were delivered in 2003.

DP World Not Fazed by Shipping Doldrums

DP World announce financial results from its global portfolio of marine terminals for the twelve months ending 31 December 2012. DP World Chairman, Sultan Ahmed Bin Sulayem commented; “Delivering this improvement in profits during what has been a challenging operating environment shows that our portfolio is focused on the right markets, and on delivering the right operations and service to our customers. “This year, we have continued to actively manage our portfolio to maximum advantage, divesting non-core or low return assets. This has enabled us to move capital into those markets where we see more profitable returns whilst strengthening our capital base.

Little Rock Port Authority Reports June Shipping

Total barge tonnage through the Port of Little Rock in May was 66,000 net tons. Dock activities continue to compare favorably to calendar year 2015. Logistic Services, Inc. has handled 274 barges during the first half of 2016 year and 410,000 net tons of various commodities have moved across the docks at the Port of Little Rock. Bulk commodities outpaced break-bulk cargo accounting for 55% of the tonnage handled across the docks. Cargoes handled across the docks included DAP, sulfate, triple phosphate, urea, rock, wetcake, bauxite, granite fines, wire rod coils, scrap, stainless scrap, steel coils and pipe. The US Army Corps of Engineers reports that 979,684 tons of commodities moved through the McClellan-Kerr Navigation System in June 2016.

Kongsberg Maritime Launches DP Training Course

Photo courtesy of Kongsberg Maritime

Kongsberg Maritime has reported an increase in the number of delegates partaking in its training courses. From 2013 to 2014, delegates rose by 26%; there was also a 36% increase in courses delivered from its training center in Westhill, Aberdeen. Kongsberg Maritime announced the launch of its new Dynamic Positioning (DP) Introduction course, which has been reintroduced in response to new industry guidelines. The DP Introduction course, which follows the recommendations contained in The International Marine Contractors Association (IMCA) guidelines…

North of England P&I Club’s Accounts Confirm Strong Year

The North of England P&I club confirmed its emergence as one the world's strongest maritime insurers today (12 September 2003) with publication of its accounts for the 2002/2003 financial year. The A- rated shipping mutual reported another 12 months of solid growth in tonnage, income and reserves. Chairman George Procopiou confirmed in the club's 2003 'Management Report' that entered tonnage at the February 2003 renewal grew by 10% to 43 million GT, with 35 million GT owned and 8 million GT chartered. Gross premium income for all insurance classes rose by 25% in 2002/3 to US$ 133.1 million and the overall free reserve increased by 14.5% to US$ 99.6 million. Most growth came from existing members but Procopiou said the North of England would continue to look for suitable new members.

KVH Industries Q1 2010 Results

KVH Industries, Inc., (NASDAQ:KVHI) reported financial results for the first quarter ended March 31, 2010. Revenue for the first quarter of 2010 was $28.0 million, up 53% from the quarter ended March 31, 2009. Net income for the period was $2.1 million, or $0.14 per diluted share. During the same period last year the company reported a net loss of $2.6 million or $0.18 per diluted share, on revenues of $18.3 million. "I am very pleased with our performance during the first quarter as we set new records for quarterly revenue and net income. These results were driven by strong contributions from our strategic initiatives in fiber optic gyros (FOGs) and global satellite communications," said Martin Kits van Heyningen, KVH's chief executive officer.

DNV Reports Strong half-year Performance

A focus on safety, service quality and the ability to provide leading-edge technology advice and solutions have contributed to the strong half-year performance for Det Norske Veritas Group AS (DNV). Revenues amounted to NOK 6,665 million and DNV strengthened its global position in all its key areas. While the industries served by DNV experience cyclical markets and are sensitive to global economic developments, DNV’s financial performance remains robust. The DNV Group achieved a strong first half-year performance, with nominal revenue growth of 13% over prior year to NOK 6,665 million. Organic growth was 5%. Maritime and Oil & Gas delivered robust organic growth rates, primarily due to DNV’s classification and verification services.

Port Metro Container Truck Drivers Issue Work Stop Notice

Image courtesy of Port Metro

Reuters – Vancouver container truck drivers have issued a 48-hour stop work notice to authorities at Canada's busiest port over a long-running dispute related to pay and service levels. The United Truckers Association of British Columbia (UTA), a non-profit group representing union and non-union drivers, said many of its 1,400 drivers will walk off the job on Wednesday, disrupting the flow of hundreds of millions of dollars worth of goods and commodities through Western Canada.

Asia Dry Bulk-Capesize Rates to Slide with Voume Drop

File Image: a Valemax bulk carrier alongside the pier.

Freight rates for capesize bulk carriers could hold around current levels or nudge slightly lower next week as cargo volumes fail to match the number of ships available for charter, brokers said on Thursday. That came as the traditional fourth quarter bounce in rates from strong year-end cargo demand remained elusive, brokers added. "No one expected the fourth quarter to be so bad," said a Shanghai-based capesize broker. "Last week people were saying we were at the bottom of the market already. My feeling is we are near the line but not yet," the broker 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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