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Strong Growth

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)


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


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


Royal IHC sells Subsidiary IHC Sealing Solutions

The SUPREME Standard. (Photo: IHC Sealing Solutions)

Royal IHC (IHC) has reached an agreement to sell 100% of its shares in its subsidiary IHC Sealing Solutions to new owners Willem Steenge, who as CEO is partly responsible for the strong growth of IHC Sealing Solutions in recent years, and Rabo Participaties (RaPar).   The sale enables IHC to strengthen its focus on its core business: offering integrated innovative vessels, advanced equipment and life-cycle support to the dredging, wet mining and offshore construction industries


Port of Rotterdam Records Strong Growth

Throughput figures for the port of Rotterdam continue to show strong growth. In the first 9 months of this year, 277 million tonnes of cargo were handled, 4% more than in the same period of 2004. Growth is above the prognosis for this year as well as the expectations for the longer term, of 2–3 %. Container handling is doing even better with +14%. In weight, container handling went up from 61 million tonnes in 2004 to 68 million tonnes (+12%)


Schottel Expands in N America

SCHOTTEL-Inc_web.jpg

Over the last years Schottel has enjoyed a strong growth in North America as well as in Latin and Central America. The “Schottel Fleet“ is growing rapidly and new facilities are needed. Schottel Inc.’s main office in Louisiana has recently moved from Harahan to James Business Park in St. Rose where larger facilities can store more spare parts and overhauls being performed more efficiently. The new address: Schottel Inc., 190 James Drive East, Suite 100, St. Rose LA. 70087


World Floating Production Report Due Soon

Douglas-Westwood Limited and Infield Systems will shortly be releasing the new third edition of its World Floating Production Report,covering the period 2003-2007. There are currently 165 prospective installations identified by the Infield database for this 5-year period. These prospects include FPSOs, production semi-submersibles, TLPs and spars, along with production barges and FSOs. The indications are that the floating


US Containerized Imports Up 9.7 Percent in July 2012

Faster container import growth forecasted for remainer of 2012 in Journal of Commerce/PIERS market survey. U.S. containerized imports surged 9.7 percent in July from a year earlier, to 1,562,235 twenty-foot-equivalent units, on strong growth in auto parts and furniture. The growth — imports also advanced 6.2 percent over June — marks impressive expansion of the import trade, especially considering last July's year-over-year drop of 5.2 percent, said Mario O


GPA Achieves 12.5% TEU Growth

Photo: GPA

The Georgia Ports Authority opened calendar year 2014 with a strong January, achieving gains of 12.5 percent in twenty-foot equivalent container units (TEUs) and 7.3 percent in overall tonnage, compared to January 2013. "We are encouraged by the strong growth in January that continued a trend that began during the fourth quarter and are hopeful these volumes signal a strengthening U.S. and global economy," Foltz said.


Germanischer Lloyd Counts 50 Million GT in Class

Fuelled by the order boom in international shipping, the tonnage classified by Germanischer Lloyd has grown to more than 50 million gross tonnage (GT). This is a milestone in the history of the classification society, which attends to the safety of over 5,730 vessels worldwide. "We are deeply grateful to our customers at home and abroad for this growth," said Executive Board Member Rainer Schöndube. "Over the past eight years, we have been able to double the fleet in class."


SC Ports’ Earnings, Volumes Surpass Plans

Photo: SC Ports Authority

July cargo volumes deliver strong start to new fiscal year SC Ports Authority reported 2014 fiscal year-end operating earnings of $14.3 million, 20.7 percent over the organization's financial plan. From July through June, the SCPA posted operating revenues of $164


HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY. Results Highlights Strong profit growth: profit attributable to the equity holders surged


Port of Hamburg Continues Cargo Records, Adds Jobs

Photo courtesy of Port of Hamburg

The Port of Hamburg continues record performance handling a total of 72.6 million tons (+ 6.6 percent) in the first six months of 2014. Hamburg’s universal port with 50.7 million tons of predominantly container handling achieves a result of 4


HHLA's Revenue & Earnings Rise

HHLA_robust performance

  *Container throughput in Hamburg up by 2.1 % *Container transport grows by 9.0 % *Improvements in revenue and operating result *HHLA confirms forecast In the first half of 2014, Hamburger Hafen und Logistik AG (HHLA) increased its revenue by 5.2 percent to € 595


OW Bunker, Petrocosta Collaborate in Latin America

OW Bunker has entered into a partnership with Petrocosta CI SA, a Colombian fuel marketing and transportation company. The agreement will further develop OW Bunker’s physical distribution network of marine fuel in Colombia and support its growth across Latin America.   


Mercator Lines Profit Hit by Low Bulk Freight Rate

Bulk carrier fore-deck: Image courtesy of Mercator Lines

Mercator Lines (Singapore) reported a revenue of US$ 16.5 million for Q1 2015, an increase of 19% as compared to correspoding period in the previous previous year, however a net loss of US$ 7.1 million for the quarter as against a loss of USD 6


Port of Antwerp Maintains Growth Trend

Antwerp port

  The port of Antwerp handled 98,229,046 tonnes of freight in the first six months of 2014. That is 2.7% more than in the same period last year, itself already a record year. Container freight once more contributed good growth figures, while liquid bulk too continued the upward trend.


Singapore's Ezra Holdings Profits Rocket

Offshore construction vessel: Photo EMAS

Ezra informs that it has sustained another quarter of growing revenues and improving operating performance with fiscal 9M 2014 revenues crossing the US$1 billion mark. Highlights Gross profit up 73% to US$163.6 million in 9M14 on strong contribution from Subsea Services division


Fugro Warns of Disappointing First Half

Dutch marine services company Fugro NV has warned that weakness in the oil and gas industry, combined with technical difficulties, meant its results for the first half would fall short of expectations, hammering its shares. Fugro, involved in the search for Malaysia Airlines' missing flight


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


The Swedish Club Returns Strong Performance

Lars Rhodin, Managing Director Swedish Club

“Last year was a good year for the club with results showing a positive return on investment and a very good contribution from the underwriting side,” said Lars Rhodin, The Swedish Club’s Managing Director, during his address to the Club’s 142nd AGM in Gothenburg on June 12


Carnival Adds Fourth Ship in China

Sapphire Princess

Carnival Corporation adds new ships in China to further expand its market, growing its capacity in China by 140 percent from 2013 - 2015. Costa Serena – set to sail out of Shanghai in April 2015 – joins Costa Victoria, Costa Atlantica and Sapphire Princess to make Carnival


Survey: O&G Research Spending to Increase

lr energy.jpg

New research from Lloyd's Register Energy explores the drivers for technology and innovation in the global oil and gas industry.     The Technology & Innovation Radar survey results are released today, May 5, 2014, from booth #2173 at the Offshore Technology Conference (OTC) in


Singapore's Marine & Offshore Sector Powering Output

File photo

Singapore's first-quarter growth could be revised higher after data on Friday showed unexpectedly strong industrial output in March, double the pace of market expectations, with output in marine and offshore engineering +45.1% y/y. Manufacturing output in March surged 12


Risk-Taking Container Terminal Operator Spotlighted

Image credit DMER

International Container Terminal Services Inc. (ICTSI) is considered one of the biggest risk takers amongst global container terminal operators. Drewry Maritime Equity Research (DMER) believes that the company is now showing signs of better risk management that will assist in its long term






 
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