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Fleet Expansion Pushes Bahri s Income Up
audi Arabia shipping major Bahri reported a rise in net income for the second quarter of 2018, mainly driven by an improved performance and fleet expansion. The company s net profit was up by 20.4 percent to SAR 185.4 million from SAR 153.9 million reported in the same quarter a year earlier.
The increase in net income is mainly due to better performance of the company s business units during the quarter, as well as the increase in fleet, which limited the negative impact of the lower transportation rates.Posted On:25-Jul-2018
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All Crew Kidnappings in 2018 Occurred in Gulf of Guinea
The number of crew members taken hostage increased from 63 in the first half of 2017 to 102 in the first half of 2018, the second quarterly report from the ICC International Maritime Bureau (IMB) shows.
The report says that all 2018 crew kidnappings have so far taken place in the Gulf of Guinea in six separate incidents. A total of 107 incidents were reported to the IMB Piracy Reporting Centre (PRC) during the six-month period.Posted On:25-Jul-2018
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TOP Ships Looking to Secure Funding for Newbuilding Trio
Greek shipowner TOP Ships is in talks on financing deals related to its three newbuildings under construction in South Korea. The company said that it is in discussions and has received indicative terms from financial institutions for the financing of the new vessels.
The units in question are the M/T s Eco California, Eco Bel Air and Eco Beverly Hills, which are expected to be delivered in January, April and May 2019 respectively, from Hyundai in South Korea.Posted On:25-Jul-2018
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DP World Reports 6.0% Gross Like-For-Like Volume Growth in First Half of 2018
DP World Limited handled 35.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2018, with gross container volumes growing by 4.8% year-on-year on a reported basis and 6.0% on a likefor-like1 basis.
The first half of 2018 continues to see an upswing in global trade and all three DP World regions delivered growth, particularly our terminals in Europe and Australia. The UAE handled 7.7 million TEU in 1H2018, remaining broadly flat (+0.2%) year-on-year.Posted On:25-Jul-2018
Credits: www.bunkerportsnews.com |
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Lower Container Throughput Hits Hutchison Port Trust s Earnings
Revenue and other income for the quarter was HK$2,789.3 million, HK$105.0 million or 3.6% below last year. Combined container throughput of HIT(a), COSCO-HIT(b) and ACT(c) (collectively "HPHT Kwai Tsing") decreased by 7.2% as compared to the same quarter in 2017, primarily due to the decline in transshipment cargoes. The container throughput of YICT(d) decreased by 4.1% as compared to the same quarter in 2017, primarily driven by the drop in empty cargoes but partially offset by increase in the US and transshipment cargoes.Posted On:25-Jul-2018
Credits: www.bunkerportsnews.com |
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APM Terminals Bahrain appoints new Chief Financial Officer
APM Terminals Bahrain, the operator of Khalifa Bin Salman Port (KBSP) has appointed Farooq Zuberi as its new Chief Financial Officer (CFO).
An accomplished finance professional, Mr. Zuberi in his new role as Chief Financial Officer for APM Terminals Bahrain, will be part of the company s strategic leadership team. He will play a pivotal role in aligning the business and financial strategy to ensure value creation for all stakeholders of KBSP.Posted On:25-Jul-2018
Credits: www.bunkerportsnews.com |
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SOCAR: Kulevi Port received more than 2,200 vessels
The port of Kulevi oil terminal of SOCAR s asset in Georgia, so far, has received and departed more than 2,200 vessels. Kulevi Port began operating in May 2008, according to AzerTag. Since then, the port has received and departed more than 2,200 vessels. The port operates without interruption year.Posted On:25-Jul-2018
Credits: www.bunkerportsnews.com |
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HMM Joins NYSHEX
South Korean shipping company Hyundai Merchant Marine (HMM) has become the newest carrier member of the New York Shipping Exchange (NYSHEX), an exchange portal for shippers and carriers. The digital contracting platform provides the entire supply chain with more clarity with fully enforceable ocean freight contracts .Posted On:25-Jul-2018
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Asian Cruise Market Continues Blooming
2017 was another year of exceptional growth for Asian cruise market, according to Cruise Lines International Association s (CLIA) latest report on Asia Cruise Trends.
Asian sourced cruise passenger numbers hit record high in 2017 with 4.052 million taking an ocean cruise, up by 20.6 percent. Asia accounted for about 15 percent of total global ocean passenger volume in 2017. Speaking of the number of deployed ships, there has been 80 percent growth since 2013, when only 43 ships cruised in Asia.Posted On:25-Jul-2018
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Steel Cut for Celebrity Cruises 2nd Edge-Class Ship
Newly rebranded Chantiers de l Atlantique shipyard (formerly STX France) in Saint-Nazaire, France hosted the steel-cutting ceremony for Celebrity Cruises second Edge-class ship, Celebrity Apex. Celebrity Apex is expected to debut in spring 2020, with the third and fourth Edge series ships arriving in fall 2021 and fall 2022, respectively.Posted On:25-Jul-2018
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Seaspan Shipyards Gets New CEO
Mark Lamarre, who most recently served as Chief Executive Officer of Australian Shipbuilding Company (ASC), has been named Chief Executive Officer of Seaspan Shipyards, effective immediately. Lamarre succeeds Brian Carter, who has stepped down from his role at the company to pursue other opportunities.
Lamarre s appointment follows recent Seaspan Shipyards additions to the senior leadership team, including Jari Anttila (previously with Philly Shipyard Inc. and Meyer Turku in Finland) as Chief Operating Officer and Christof Brass (previously with Airbus Group SAS) as Chief Financial OfficerPosted On:25-Jul-2018
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Scorpio Bulkers Profitable in Second Quarter
Monaco-based bulker owner Scorpio Bulkers returned to profit in the second quarter ended June 30, 2018. The company’s GAAP net income in the second quarter of the year was USD 0.8 million, compared to a GAAP net loss of USD 13.4 million reported in the same period in 2017. Total vessel revenues increased to USD 60.6 million from USD 37.7 million seen in the second quarter a year earlier.Posted On:25-Jul-2018
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3 died, 1 hospitalized after gas poisoning in bulk carrier cargo hold
Three port workers died and one was hospitalized after they inhaled toxic gas in a cargo hold of bulk carrier SEPETIBA BAY, docked at Portocel port, Brazil, in the morning Jul 24. The ship is offloading wood which was treated for protection with gas, according to local Trade Union. One worker went down to hold and lost conscience, other three tried to help him, but were also poisoned. One of them managed somehow to climb to cargo deck, though badly intoxicated, other three didn t make it.Posted On:25-Jul-2018
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