LATEST NEWS

  • 14 Aug 2014 8:39 AM | Anonymous
    Original news was published on 12 August, 2014

    GAC Pindar has secured a three-year extension of its contract with the global Extreme Sailing Series™ to manage the complex worldwide shipping of the Series’ Extreme 40 boats, equipment and support materials.

    Andrew Pindar, Director of GAC Pindar, commented: “Our business model of bringing together our knowledge, understanding and passion of sailing together with the strength and reach of GAC shipping and logistics has seen us become established as the provider of choice for an ever increasing range of sailing events since we started out four years ago. Securing a second three year term with OC Sport and the Land Rover partnered Extreme Sailing Series is fabulous validation that we continue to navigate a good course.”

    Andy Tourell, Extreme Sailing Series Project Director, adds: “The Series is a complex logistics puzzle, and over the last three years we have received fantastic support from the team at GAC Pindar, who have never failed to deliver. The first three Acts in 2014 took the fleet from Asia, to the Middle East and then to China – 10,000 miles in less than three months before breaking into a new territory for the Series, Saint Petersburg in Russia. GAC Pindar’s in-country local knowledge has ensured these time sensitive deliveries run to schedule. This is an exciting time for us as organisers, as the planning for the 2015 circuit comes to the fore with host venue, team and more partner announcements expected in the coming weeks with four Acts still to go in 2014.”

    During the 2013 Series, GAC Pindar transported valuable racing cargo by road, sea and air, covering over 23,000 miles supporting the elite sailing series. Meticulous logistics planning and execution helped the world’s best sailors compete in seven countries worldwide in the world’s toughest sailing series.

    In 2015, the series continues to expand its global reach, traversing three continents with eight Host Venues starting in Singapore, 5-8 February, over 11 months with no room for error or delay. As official logistics partner to the Extreme Sailing series, GAC Pindar will be responsible for transporting the Extreme 40 boats – including their own team entry – as well as supporting infrastructure including the shore side facilities such as TV production equipment, the Race Village and VIP area.

    *NEW SOURCE

  • 13 Aug 2014 8:37 AM | Anonymous
    Original news was published on 12 August, 2014

    BRAEMAR ACM Shipbroking's quarterly market report, says container shipping fundamentals look like they could be improving with other analysts sharing their positive outlook.

    The report noted improving demand, restrained vessel ordering and higher scrapping levels. "So far, the container industry has plenty to be positive about," it said. "If we continue to witness restraint in post-panamax ordering and shrewd fleet management, the gradual recovery of the liner business should gather momentum."If we look towards 2016, we are currently expecting 115 vessels with a combined capacity of 0.79 million TEU to be delivered, which, with the current orderbook, will increase the size of the fleet by three per cent.

    "With a year of historically low net fleet growth, the container industry can take a breather and enjoy the benefits of fewer vessels hitting the water. Further orders this year are to have a delivery date of 2017 and beyond."

    The broker predicted that up until the end of 2016, it expected global container demand to increase 18 per cent, which is an improvement on the 14.5 per cent increase of 2011-2013. Braemar predicted that the containership fleet will grow by a further 18 per cent up until the end of 2016, matching demand growth.

    The capacity of new orders placed during the first six months of the year is down 17 per cent on the same period of last year, with Braemar estimating that 82 units of 610,000 TEU have been ordered during the period. And it predicts a slowdown in orders for ultra-large tonnage over the next two years because of the current high level of orders for vessels of this size. Sixty vessels totalling 330,000 TEU were sold for scrap in the first half and containership demolition is expected to be robust for the remainder of 2014, unless daily charter rates post increases. Meanwhile, analysts at Clarksons were also positive about the market, with box trade expected to increase six per cent this year and 6.7 per cent next with capacity expected to rise 4.8 per cent.

    *NEWS SOURCE

  • 12 Aug 2014 11:58 AM | Anonymous
    Dear Family,

    Strong partners are going on to join Freight Forwarders Family. Today it is our pleasure to announce that "J&J LAST (LAND AIR SEA TRANSPORT) CO.,LTD" is our new partner from SOUTH KOREA. Let's welcome them on board of the Freight Forwarders Family..!

    SOUTH KOREA_J&J LAST (LAND AIR SEA TRANSPORT) CO.,LTD

    ADDRESS    :RM. 307, CGV Tower, #568-1, Daeya-Dong, Siheung-City, Gyounggi-Province, 429-010 - SOUTH KOREA.
    CONTACT    :J.J. MOON
    TEL    :+ 82-31-316-8361
    FAX    : + 82-31-316-8364
    WEB    :(under construction)

  • 12 Aug 2014 8:52 AM | Anonymous

    KNSS, a joint venture between Nippon Steel & Sumitomo Metal and Indonesia’s Krakatau Steel will build a new automotive steel plant in Indonesia.

    The US$300 million plant will be located in Cilegon in Banten Province, Nippon Steel & Sumitomo said in a statement. It will be built with the capacity to produce 480,000 tonnes per year of cold-rolled steel and hot-dip galvanized steel products, both of which are used by the automotive industry.

    Operations at the steel mill are expected to start in 2017.

    The KNSS joint venture was established in 2012 and this is the company’s first project.

    *NEWS SOURCE

  • 11 Aug 2014 8:41 AM | Anonymous

    Original news was published on 8 August, 2014

    BERMUDA based Textainer, the world's largest lessor of containers, posted a first half adjusted net profit increase of 6.8 per cent year on year to US$99.2 million, drawn on revenues of $274.9 million, up 6.2 per cent. Second quarter adjusted net profit declined 14.6 per cent to $40.1 million from revenues of $139.5 million, down 7.3 per cent. "We are pleased with our second quarter results. Utilisation has increased almost three per cent since its low point in the first quarter," said Textainer CEO Philip Brewer.

    "Lease rental income grew seven per cent year over year to $124 million, primarily due to our larger owned fleet," he said."We continue to see pressure on rental rates due to the high level of liquidity among container lessors and the low level of new container prices and interest rates.

    "We also see reduced gains on container sales due to the declines in used container prices. We expect these conditions to continue for the near term," he said.
    Conceding that profitability was hurt by these factors, Mr Brewer said: "We remain the lowest cost operator among our public peers and we have lowered our financing costs." The company invested $598 million year to date, purchasing more than 314,000 TEU including new, purchase leaseback and previously managed containers. "Our fleet has grown seven per cent over the past 12 months to over three million TEU. We believe new container prices are close to the cost of production and that returns on containers purchased at today's prices can be expected to increase," he said.

    *NEWS SOURCE

  • 09 Aug 2014 11:36 AM | Anonymous
    Original news was published on 8 August, 2014

    MANILA's International Container Terminal Services Inc (ICTSI) has posted a 23 per cent year-on-year first half net profit increase to US$101.7 million, drawn on revenues of $510.3 million, an increase of 23 per cent.

    Quarterly net profit grew 17 per cent to $49.3 million, drawn revenues of $261.4 million, which increased 28 per cent year on year.

    Higher profit partly came from the sale of a subsidiary in Cebu for $13.2 million, the termination of management contract in India for $1.9 million and an insurance claim settlement in Ecuador for $1.5 million.

    ICTSI handled 3,566,023 TEU in the first half, 18 per cent more than in 2013. This was due to an increase international and domestic trade in most of the company's terminals.

    Big contributions were also made by the company's new terminals Contecon Manzanillo SA (CMSA) in Mexico and Operadora Portuaria Centroamericana in Puerto Cortes, Honduras.

    Apart from the two new terminals, organic growth increased one per cent. The company's terminal operations in Manila, Brazil, Poland, Madagascar, China, Ecuador and Pakistan accounted for 70 per cent of total volume.

    *NEWS SOURCE

  • 08 Aug 2014 8:33 AM | Anonymous
    Original news was published on 6 August, 2014

    TAG Energy Solutions ships first 650-ton monopiles

    TAG Energy Solutions has sent the first four monopiles and transition pieces to the US$1.2 billion Humber Gateway, an E.ON offshore wind farm under construction in British waters of the North Sea.

    Each monopile measures 60 meters long and weighs 650 tons. The 12 remaining foundations will ship before the end of August, TAG said in a statement.

    TAG manufactured the foundations at its tubular production facility on the River Tees and loaded them by SPMT and crane to a waiting barge at the company’s wet dock facility. The barge was then taken down the River Tees where it met the MPI Discovery, which will be used to install the components.

    When completed in the spring of 2015, Humber Gatweway will consist of 73 turbines and generate 219 megawatts of electricity.

    *NEWS SOURCE

  • 07 Aug 2014 8:36 AM | Anonymous
    Original news was published on 6 August, 2014

    GLOBAL container leasing grew 7.3 per cent in last year, surpassing the two per cent growth in carrier-owned containers because of continuing weakness of liner shipping financials, according to Drewry Maritime Research.

    "Carriers have been forced to turn to the leasing sector to renew their container equipment fleets" said Andrew Foxcroft, author of Drewry's Container Leasing report. "The leasing sector's fleet growth has outpaced that of owner operators for each of the four years since the worldwide recession of 2009," Mr Foxcroft said. This is because the changed financial climate has left the container shipping industry heavily in debt and unable to easily access capital for investment," he said. But the Drewry report also notes that returns from the leasing of new equipment fell to a new low in 2013 with returns lower than they were in 2009.

    "The recent rate erosion has been due to the expansion of top leasing firms still chasing market share to maintain investor interest and draw in further capital," said Mr Foxcroft.Today's situation contrasts with the preceding five years (2004-08) when operators" fleet growth fast outpaced that of the lessors, said the report. While most of last year's acceleration in the leased fleet was achieved through investment in new container equipment, there was also strong growth in the used container sector. "Purchase of used equipment from cash-strapped shipping lines, by way of sale and lease-back, also helped propel the leasing sector,¡¨ Mr Foxcroft said.

    "This action, together with operators' more limited investment in new equipment, explains why shipping lines" more recent rate of fleet growth has been so small," he said. Lessors are gaining most ground with reefers. Drewry estimates that the leased reefer fleet doubled in the four years to 2013 and grew its share of the overall fleet from 30 per cent to 40 per cent. Drewry forecasts that growth in the container leasing fleet will continue to outpace that of the owner operator sector. But the gap between the two is expected to narrow as carrier finances improve.

    *NEWS SOURCE

  • 06 Aug 2014 8:42 AM | Anonymous
    Original news was published on 1 August, 2014

    UK, August 1, 2014 (STAT):-IAG Cargo reported a strong financial result in the second quarter of the current year witha commercial revenue of €238m against €271m during the corresponding period in the previous year.

    The cessation of long haul freighter leasing contract with GSS in April 2014 resulted in lower cargo tonnage during this quarter with a cargo tonne kilometre of 1,321, a decrease of 5.1 percent. The overall yield also dropped by 7.4 percent.

    Steve Gunning, CEO at IAG Cargo, commented: “The strong second quarter performance is the result of us continually adapting our business to meet challenging market conditions. In particular, the decision to end our longhaul freighter agreement with GSS and instead purchase capacity on Qatar Airways’ freighter fleet has delivered real commercial value.

    “Over the quarter we have utilised additional line capacity well and have achieved good load factors with notably strong flows from Asia Pacific to North America. Our newest routes to Austin, Texas and Chengdu, China have also performed well with impressive load factors. From a customer experience perspective, we have successfully launched Cargo Connector, our small freight connection service, in two additional US markets during the quarter, a move which has been particularly welcomed by small and medium sized forwarders.

    “With the customer-focused changes that we continue to make to the business and a firm handle on costs, we are making good progress towards optimising IAG Cargo’s bottom line contribution and we are looking ahead to the remainder of the year with optimism.”

    *NEWS SOURCE

  • 05 Aug 2014 8:53 AM | Anonymous
    Original news was published on 4 August, 2014

    Output to be exported to other African countries and to Europe

    China’s Shandong Iron and Steel Group (Shandong Steel) will construct a US$150 million steel pipe plant in Morocco.

    The new plant will have a production capacity of 250,000 tons of pipes per year and be built at a 14-acre site in Tangier Exportation Freezone  south of Tangier in northern Morocco.

    All of the plant’s pipes will be exported, according to a report from African agency Agence Ecofin. The majority of the output undefined 70 percent undefined  will be exported to European countries with the remaining 30 percent to other African countries. The deal is part of Moroccan government’s initiative to bring in more Chinese investment to the country.

    *NEWS SOURCE

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