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ESL Shipping s Crane Issues on New Vessels Mainly Fixed
Serious technical problems with cranes aboard ESL Shipping s new LNG-fueled bulkers have been mainly fixed, according to the company s parent, Aspo Group.
Aki Ojanen, CEO of Aspo Group, said that the new ships "were disappointments" as their cranes remained inoperable throughout the first quarter, and they were unable to operate as planned.
At the end of the period, crane manufacturer Cargotec MacGregor informed that it had mainly returned the cranes operational.
The installation and testing of the autonomous crane system were postponed to the second quarter of the year due to warranty repairs.
The extensive and serious problems in the conventional mechanics of all the cranes aboard the ships have affected the company s profitability in the first quarter of 2019. The issues resulted in significant loss of income and additional costs for the shipping company as ESL Shipping had to identify other transportation options with a lower profitability during the repairs.
ESL Shipping however ended the quarter with an increase in its operating profit, driven by higher transportation volumes and the earnings of the acquired Swedish shipping company AtoB@C.
Operating profit for the quarter was up at EUR 3.2 million, compared to 2.6 million reported in the same period in 2018. The operating profit rate for the period was 7.3%, which is low considering the long-term target, the company explained.
Net sales increased by 113% from the comparative period and stood at EUR 43.7 million, up from EUR 20.5 million, as a result of the vessel capacity brought by the AtoB@C acquisition, the deployment of the two new LNG-fueled vessels and higher transportation volumes.
The cargo volume carried by ESL Shipping during the first quarter amounted to 3.6 million tons, rising from 2.5 million tons handled a year earlier.
Looking forward, ESL Shipping expects the financial performance of the new LNG-fueled vessels to reach the targeted level starting from the second quarter.
Uncertainties associated with the development of the cargo markets are expected to have the most significant impact on the performance of the shipping company s largest Supramax vessels in 2019.
Most of the use of the shipping company s transportation capacity has been secured in the Baltic Sea and Northern Europe through long-term agreements. The current forecasts of general transportation volumes of contractual partners are satisfactory in the key customer segments, even though there are uncertainties in demand due to the political situation and increased economic uncertainty.Posted On:9-May-2019
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Meyer Werft Announces Float Out of Saga Cruises New Ship
Spirit of Discovery, the first of Saga Cruises two new cruise ships, will be leaving the covered building dock I at Meyer Werft shipyard in Papenburg, Germany, on May 12, 2019.
The float out is scheduled to start at 9:30 am local time, the shipbuilder informed.
During the float out, the ship s mast and funnel will be lifted on the ship. In the evening of the same day, Spirit of Discovery will be moved to the outfitting pier for a number of tests.
As disclosed, Ems conveyance is currently planned for the end of May from Papenburg to Emden.
Spirit of Discovery is the first of two 58,250 GT newbuilds Meyer Werft is building for the British cruise line. With an overall length of 236 meters, a width of 31.2 meters, each vessel will be able to accommodate 999 passengers.
Spirit of Discovery s sister ship, Spirit of Adventure, is expected to be completed in summer 2020.
"The new ships will be tailored to the British market with a completely new design," Meyer Werft said.Posted On:9-May-2019
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MPA Singapore Revokes Southernpec s Bunker Operator Licence
The Maritime and Port Authority of Singapore has revoked the bunker craft operator licence of Southernpec (Singapore) Pte Ltd, with effect from May 8, 2019.
The company will no longer be allowed to operate as a bunker craft operator in the Port of Singapore.
An investigation undertaken by the MPA revealed that Southernpec had engaged in a bunker malpractice involving the use of a magnet during a bunkering operation.
Southernpec had also failed to inform MPA on the appointment of its cargo officers to work on all the bunker craft operated by Southernpec.
As the company also holds a bunker supplier licence issued by MPA, the authority is currently investigating Southernpec for breaching the terms and conditions of this licence.Posted On:9-May-2019
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USCG Evaluating Oil Removal Ops on Tanker Sunk by German U-Boat
A tanker sunk by a German U-boat in January 1942 is now leaking oil and the U.S. Coast Guard is evaluating potential oil removal operations as it fears leaks from the ship could pose a risk to the environment.
The service announced last month that it had contracted Resolve Marine Group to conduct a full assessment of oil remaining on the Coimbra wreck, located approximately 30 miles southeast of Shinnecock, N.Y.
If substantial oil still remains, and if feasible, the Coast Guard will work with Resolve Marine Group to remove oil from the wreck in order to reduce pollution risks to the environment, the Coast Guard said.
The operation is taking place from April 28 to May 30. The initial evaluation will assess the condition of the tanker and what potential environmental impact still exists. Based on the assessment, possible oil removal operations will take place.
"This assessment will help determine, and possibly remove any potential environmental threat the tanker poses. Our top priorities are safety of the public and protection of the marine environment," Capt. Kevin Reed, commander Coast Guard Sector Long Island Sound, said.Posted On:9-May-2019
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Saipem s pipe layer explosion, fire, 14 injured, Caspian sea
Pipe layer ISRAFIL HUSEYNOV suffered fire on board, which started at around 1730 Moscow time May 8 after reportedly, an explosion, south of Baku, Azerbaijan, Caspian sea. The ship was carrying out pipe laying works at the time of fire. 14 people were injured to a different degree (3 of them said to be in critical condition), all injured were evacuated.Posted On:9-May-2019
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ITF Stages Worldwide Rallies in Support of Australian Seafarers
International transport workers and their unions are taking part in rallies outside embassies and consulates to support Australian seafarers and voice demands for a strong Australian shipping industry.
The International Transport Workers Federation, the rally organizer, said the action was aimed at highlighting the fact that "the future of Australia s domestic shipping industry is hanging in the balance at the Australian Federal Election".Posted On:9-May-2019
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xChange: Ins and Outs of Demurrage and Detention
The process of shipping a container from one point to another includes a number of factors, some of which are demurrage and detention. These are a matter of allowed free-days, determining the number of days a shipper can use the container for free.
If this free time is exceeded, a user has to pay a demurrage and detention charge, usually calculated per day.Posted On:9-May-2019
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Finnlines Earnings Steady Despite Finnish Trade Growth Slowdown
Finnish RoRo and passenger services operator Finnlines stayed in the black during the first quarter of 2019, despite a slowdown in the growth of Finnish exports and imports compared to the previous year.
The company reported EUR 137.6 million (USD 154.1 million) of revenue for the period ended March 2019, an increase of 2.0 per cent compared to the same period last year.Posted On:9-May-2019
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Electronic cargo tracking system at Kolkata port does away with Customs check for Nepal-bound freight
While the country was busy with elections, there were some major developments in India-Nepal trade relations.
First, the containerised rail cargo carrying third-country imports of Nepal through the Indian ports of Kolkata and Vizag will no longer require clearance by Indian Customs authorities as both ports have introduced the electronic cargo tracking system (ECTS).Posted On:9-May-2019
Credits: www.bunkerportsnews.com |
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Hai Phong int l terminal welcomes first container ship
The Hai Phong International Container Terminal (HICT) of the Tan Cang Sai Gon Corporation welcomed its first container ship on May 7.
With a capacity of nearly 12,000 TEUs, Wan Hai 805 became the first and largest container ship anchored at the northern port to date.Posted On:9-May-2019
Credits: www.bunkerportsnews.com |
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International ports efforts to be sustainable
Ports all over the world, individually and collectively, take a serious, aggressive and more progressive stance to ensure their readiness for a sustainable future. Countries adopt their respective port development roadmaps to help charter their course toward achieving goals and objectives in a more sustainable manner.Posted On:9-May-2019
Credits: www.bunkerportsnews.com |
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Suez Canal Container Terminal set to reinstate connectivity and competitiveness
APM Terminals is working closely with the government of Egypt on the final pieces of the jigsaw that will ensure the success of Egypt Vision 2030 for Port Said East Port and the Suez Canal Container Terminal (SCCT). Once in place, it is set to regain its position as one of the most competitive ports in the South and East Mediterranean region.
Posted On:9-May-2019
Credits: www.bunkerportsnews.com |
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