Hapag-Lloyd Sees Profit Jump in Q1
Hapag-Lloyd generated a profit in the first three months of this year, and concluded the first quarter with a profit of EUR 128.2 million (prior year period: EUR -119.1 million). EBITDA reached EUR 283.6 million (prior year period: EUR 2.9 million) and the underlying EBIT was EUR 160.5 million (prior year period: EUR -63.2 million). The sharp increase in profit was achieved in a challenging market environment, with an average freight rate in the first quarter of USD 1,331/TEU.
UK Register’s Largest Ship Docks in Southampton
The largest vessel registered in the UK Ship Register has arrived in Southampton today. CMA CGM Kerguelen, a 398-meter-long containership operated by the CMA CGM Group, is big enough to pack five and a half A380 Airbuses on. It is capable of carrying 17,772 TEU (twenty feet equivalent units) and is driven by an engine of 9,000 horsepower. Sir Alan Massey, Chief Executive of the Maritime and Coastguard Agency…
Torm Posts First Quarterly Profit in Five Years
Debt-stricken Danish tanker operator Torm has posted its first quarterly net profit in five years thanks to higher freight rates. The company swung to a net $8.6 million profit in January-March compared with a net loss of $222.6 million in the first quarter last year. "The combination of lower oil prices and wider refinery margins boosted the demand for transportation of refined oil products in the first quarter of 2015," Chief Executive Jacob Meldgaard said in the statement.
Rolls-Royce: 50 Years of Azimuth Thruster Production
Marking 50 years since the delivery of its first azimuth thruster, Rolls-Royce held an event in Rauma, Finland to celebrate the occasion. Azimuthing thrusters, which today are one of Rolls-Royce’s most successful marine products, rotate through 360 degrees, providing propulsion and maneuverability, without the need for a rudder. Azimuthing thrusters power and position some of the world’s largest floating structures.
Hydroacoustic Package for Norwegian Icebreaker
The new RV Kronprins Haakon, the first Norwegian Icebreaker built for Polar research, and the first purpose built polar research vessel since Roald Amundsen’s Maud launched in 1917, will start regular science cruises in 2017 with a complete hydroacoustic systems package from Kongsberg Maritime. Builder Fincantieri has selected a combined delivery of Kongsberg Maritime survey technology, including a wide range of Simrad scientific research systems for the Kronprins Haakon.
Asian Jet Fuel Shipments to US West Coast Picking Up
Delayed restart of Exxon refinery draws down inventories. Valero and BP among traders shipping jet from Asia to U.S. Asian jet fuel shipments to the United States…
MOL Transports Wheelchairs for Paraguayan Children
Mitsui O.S.K. Lines, Ltd. received a letter of appreciation from the Paraguayan Embassy, thanking the company for providing ocean transport of used wheelchairs from Japan to Paraguay…
PPG Announces Executive Appointments
PG Industries today announced executive appointments effective June 1. Vince Morales, currently vice president, investor relations, will become vice president, investor relations, and treasurer.
USN Fighter Crashes in Gulf - Crew Safe
A U.S. Navy F/A-18F Super Hornet assigned to Strike Fighter Squadron (VFA) 211 crashed at 1:30 p.m. (GMT), today, shortly after launching from the aircraft carrier…
NavPlay Debuts App for American Boaters
NavPlay, an innovative manufacturer of iPad apps for boaters, announced today its release of a new app designed specifically for American boaters – NavPlay US. Offering…
CMA CGM Christens Its Largest Ship
The CMA CGM Group announced that the CMA CGM Kerguelen, the group’s largest vessel, was christened in Le Havre, France. The christening took place in presence of Jacques R.
Ameritex Fabric Systems Debuts "Weatherguard"
Ameritex Fabric Systems, a member of the Taylor Made Group and the leading supplier of engineered canvas enclosures, tops and covers for OEM boatbuilders, is introducing a new…
Single Window Reporting for All German Ports
Effective from 27 May 2015, German Authorities will implement the reporting requirements for vessels according to EC-directive 2010/65/EU (national single window reporting formalities).
Sainty Marine in Troubles Waters
Financially troubled Chinese shipbuilder Sainty Marine has announced Bank of China and China Exim Bank have frozen its bank accounts. Shenzhen-listed Sainty Marine…
Universal LNG, Sembcorp Marine Pact for West Africa LNG Development
Universal LNG Holdings has launched West Africa LNG Development, a ground-breaking solution partnership between Universal LNG Holdings and Sembcorp Marine Group Company.
Delta SubSea Adds New Vessel
Delta SubSea has entered into an agreement with Norwegian company Olympic Shipping AS for the Olympic Delta, a newly built Multipurpose Subsea Support & Construction Vessel.
Vard in Red
Offshore shipbuilder Vard Holdings reported a net loss of $40mln in the first quarter, on back of unrealized foreign exchange losses from a 15-year USD-denominated yard construction loan in Brazil.
Delfin LNG Proposes Gulf Coast’s First Offshore LNG Facility
A potential deep-water port LNG export project for the Gulf of Mexico has submitted applications to the Maritime Administration and the United States Coast Guard for approval.
Siem Sells “Siem Sasha”
Norwegian company Siem Offshore has sold the platform supply vessel (PSV) “Siem Sasha”. It has delayed delivery of four of the nine platform support vessel (PSV)…
Philippine to Build Naval Base on Disputed Waters
Philippine military will soon build naval base on the country’s western coastline, opposite the disputed Spratly islands, Reuters reported Armed Forces chief Gen. Gregorio Pio Catapang Jr. as saying.
