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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)


New CEO for Evergas

Mr. Steffen Jacobsen is appointed as CEO courtesy Evergas

  Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 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.


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 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


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


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


US Could Eliminate Energy Imports -EIA

Figure 1 (Source: EIA)

EIA's AEO2015 projects that U.S. energy imports and exports come into balance, a first since the 1950s, because of continued oil and natural gas production growth and slow growth in energy demand   The Annual Energy Outlook 2015 (AEO2015) released today by the U.S. Energy Information Administration (EIA) presents updated projections for U.S. energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High Oil Price


DP World Volumes rise

Table courtesy DP World

DP World Limited handled 63.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2016, with gross container volumes growing by 3.2% year-on-year on a reported basis, and 2.2% on a like-for-like  basis


US Imports Growing in First Half of 2017

File photo: Port of Los Angeles

Imports at the nation’s major retail container ports are expected to increase 4.6 percent during the first half of 2017 over the same period last year as the nation’s economy improves and retail sales continue to grow, according to the monthly Global Port Tracker report released today


Oversupply Pressure on LPG Shipping Rates

Graph: Drewry Shipping Consultants Limited

 The LPG shipping trade will continue to grow at a healthy pace on the back of strong Asian demand, but fleet growth will outpace it, keeping rates under pressure in 2017, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.  


Georgia Ports mark busiest month

The Ports of Savannah and Brunswick achieved a 26 percent increase in total tonnage in January, compared to the same month last year. Find print quality images here. (Georgia Ports Authority  Stephen B. Morton)

The Georgia Ports Authority achieved outstanding January results, with double-digit growth across all business sectors and a 26 percent increase in total tonnage.   "The Port of Savannah is unrivaled in its connectivity into the heartland of the U.S


World Fleet Growth: Let’s Do The Time Warp Again?

Graph: Clarksons Research

 Clarksons Research says that there has been a rapid expansion in the world fleet over the last decade. However, the pace of growth has slowed dramatically in recent years.    Generally more limited contracting and subsequently significantly lower delivery volumes combined with


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


MV Werften Selects MAN Engines for New Cruise Ships

Global Class ship (Image: MAN Diesel & Turbo)

 MAN Diesel & Turbo and MV Werften have concluded a contract to equip two Global Class cruise ships for Star Cruises. With a registered tonnage (RT) of 200,000 tons each, the ships will be some of the largest on the market and will each be equipped with six type 48/60CR engines with a


Emsys Names Holt Marine Service Manager

Tim Holt (Photo: Emsys)

Emsys Maritime Ltd (UK) has appointed Tim Holt in the capacity of Marine Service Manager.   Holt joins the company with a background in the design, installation and maintenance and support of maritime emissions monitoring technology, having held senior positions with various organizations


Moody's: Global Shipping Challenged by Oversupply

Photo by International Chamber of Shipping

 Moody's outlook for the global shipping industry in 2017 is negative, reflecting continued oversupply and a 7%-10% decline in EBITDA.    Dry bulk freight rates will remain low due to subdued demand, though deferred vessel deliveries


Antwerp Port Hits Record Volume

Container terminal Photo port of Antwerp

The port of Antwerp will close 2016 with an expected record volume of more than 214 million tonnes of freight handled. The shipping container volume for its part has risen above 10 million TEU (twenty-foot equivalent units, i.e. standard containers) for the first time in the history of the port


Maersk Sees Strong Growth in Mexico

Photo: Maersk Line

 Maersk Line saw a 21 percent jump in cargo volumes in Mexico between January and October 2016 compared with the year-earlier period, says a report by T21.   Mexico is expected to be one of the main beneficiaries of the newly expanded Panama Canal and its infrastructure is undergoing a


Antwerp Finishes 2016 with 2.7% Growth

Photo:  Port of Antwerp

The port of Antwerp handled over the past year 214 057 529 tons of goods. Which is 2.7 more than the previous year.   Container volume up 4.1%: At 4.1% the growth in container volume is even more pronounced: after 12 months the figure stood at 117,909,533 tonnes of containerised freight


Port Klang's throughput surge to 13.2m TEU

Table showing Performance

Port Klang Authority stated that Port Klang registered a positive growth of 10.8% in 2016 in container handling compared to 2015 with a total of 13,169,577 TEU’s, Northport handled 3,223,544 TEU’s while Westports handled 9,946,033 TEU’s.


Russian Seaport Cargo Volumes All Time High

Photo: Port of Novorossiysk

 The turnover of goods of seaports of Russia for the first time in history exceeded the mark of 700 million tons per year, reports local media.   According to figures released by the Russian Maritime Ports Association, the sector's overall turnover rose 6.7 percent in 2016. 


Marine Business Helps Power GD Forward

On Wednesday, January 25, General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), began construction on a fifth ship for the U.S. Navy’s Expeditionary Transfer Dock (ESD)/Expeditionary Sea Base (ESB) program. (Image: General Dynamics NASSCO/USN)

General Dynamics (NYSE: GD) reported fourth-quarter 2016 earnings from continuing operations of $807 million, a 5.6 percent increase over fourth-quarter 2015, on revenue of $8.2 billion. Diluted earnings per share from continuing operations were $2.62 compared to $2.40 in the year-ago quarter, a 9






 
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