• 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.


  • 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.


  • 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.


  • 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.


  • 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.


  • 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.”


  • 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.


  • 04 Aug 2014 8:41 AM | Anonymous
    Original news was published on 1 August, 2014

    KENYA Ports Authority has posted a nine per cent year-on-year increase in cargo to 5.56 million tonnes in the first quarter.

    Port managing director Gichiri Ndua estimate that volume has risen in the second quarter as the authority expects increases container traffic to 1.6 million TEU, from the current 900,000 TEU in the next five years.

    Average dwell time has also reduced from 5.8 days in 2013 to 3.8 days this year. "This is a significant improvement of two days," said Mr Ndua.

    Average turnaround time per ship has also reduced to 3.2 days against 3.3 days in last year's first four months and vessels carrying motor vehicles have maintained the lowest average port time of one day since last year, according to the authority and cited by the star of Mombasa.

    Mr Ndua attributed the growth to the expansion programmes which include dredging of the Kilindini channel and construction of berth 19 which was commissioned in August last year.

    The move saw the first widest ever container vessel- Maersk Cairo, with a capacity of 4,350 TEU dock at the port in February.

    "I am glad to report that the ongoing port capacity expansion programme is firmly on track with a number of initiatives in the pipeline which will be used to enhance operations," said Mr Ndua.
    Cargo handled at the port is expected to reach 28.5 million tonnes annually from the current 22 million with an annual growth rate of 7.5 per cent.


  • 02 Aug 2014 9:14 AM | Anonymous
    Original news was published on 30 July, 2014

    Volga-Dnepr Group’s Engineering & Logistics Center created a loading frame to help transport a 30-ton oil and gas shipment from Johor Bahru, Malaysia, to Yuzhno-Sakhalinsk, Russia, for freight forwarder Panalpina.

    The oil and gas shipment consisted of five pieces, including 13-meter-long pipes weighing 18 tons.The cargoes were loaded onto Volga Dnepr’s IL-76TD-90VD air freighter.

    Normally, loading such cargo would require the use of six tons of special loading equipment but at the time of the customer inquiry, Volga-Dnepr already had an aircraft positioned in the Asia Pacific region, so the ELC team devised a solution that eliminated the additional time and cost of moving the specialist loading equipment from Europe, the company said in a statement.

    “We created a solution by developing a compact 600-kilogram frame that enabled the pipes to be loaded using the aircraft’s roller tracks,” Azat Yakupov, senior load planning engineer for dangerous cargo at Volga-Dnepr Airlines, said. “We prepared the necessary drawings and contracted a company in Johor Bahru to manufacture the frame for us. This enabled us to load the shipment safely at Johor Bahru Senai International Airport using the IL-76TD-90VD’s onboard crane as well as an external crane and lifting equipment without any delay to the planned flight schedule.”

    Air charter sales of IL-76TD-90VD flights carrying oil and gas equipment doubled in the first half of 2014 to 32 percent of all flights operated by the aircraft compared with the opening six months of last year.


  • 01 Aug 2014 8:38 AM | Anonymous
    Original news was published on 31 July, 2014

    The Port of Savannah handled a record 3.14 million TEU in FY14, up 6.3 per cent or 186,567 TEU year on year, marking the first time the port has surpassed the three million TEU mark in a single year.

    Overall, the Georgia Ports Authority (GPA) moved more than 29 million tons of cargo, as well as more than 700,000 auto and machinery units in the finacial year.

    In ro-ro, the GPA's Port of Brunswick's dedicated auto and machinery terminal moved 674,327 units. Savannah's Ocean Terminal added another 26,375 for a record total of 700,702 units.

    GPA ro-ro cargo improved by 63,760 units or 10 per cent on the year. Breakbulk cargo saw a gain of 5.2 per cent to reach 2.63 million tons as bulk cargo rose 8.4 per cent 2.73 million tons.

    "Our ports support a broad range of industries, ranging from forestry and food production to auto manufacturing and retail," said GPA executive director Curtis Foltz.

    "The additional cargo attracted to Georgia in FY14 speaks to the powerful and growing impact Georgia's ports have on the state and region." he said.

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