Category archives for: Asia Pacific

APM Terminals Records Profit Bump

APM Terminals Records Profit Bump

APM Terminals delivered an increased profit of USD 223m (USD 179m 2Q 2013) and a return on invested capital of 14.2% (12.8%) in the first six months of 2014. Terminals becoming fully operational, as well as new terminals added to the portfolio supported the 8% growth in volume. More than 80% of EBITDA was generated in […]

COSCO Reports Strong Profit Growth

COSCO Reports Strong Profit Growth

COSCO International Holdings Limited has disclosed the unaudited consolidated results of the company and its subsidiaries (COSCO) for the six months ended June 30, 2014. COSCO’s gross profit increased by 29% YOY, while the overall gross profit margin added 1.5 percentage points to 8.9%. In the first half of 2014, volume of both scrapped vessels […]

Nanaimo Berths First Container Ship

Nanaimo Berths First Container Ship

The arrival of the M/V Westwood Pacific at the Nanaimo Port Authority’s Duke Point terminal on August 19 marks the first container ship to berth at the Port’s facilities, providing the Canadian port with a direct link to Asia. This trial call, with express service to Japan and Korea, and feeder service to other Asian ports, is […]

Ocean Container Sector Cutting Its Carbon Footprint

Ocean Container Sector Cutting Its Carbon Footprint

BSR’s Clean Cargo Working Group’s 2014 “Global Maritime Trade Lane Emissions Factors” report—which provides data from more than 2,900 ships, representing around 85 percent of global ocean container capacity—indicates that average carbon-dioxide emissions for global ocean container transport have declined year on year, and by nearly 8 percent between 2012 and 2013. 8 % decrease […]

Star Bulk on Vessel Shopping Spree

Star Bulk on Vessel Shopping Spree

Star Bulk Carriers Corp. announced today that it has entered into definitive agreements with Excel Maritime Carriers Ltd.  to acquire 34 operating vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash. Through the vessel purchase transactions, Star Bulk expects to acquire 34 secondhand drybulk carriers, […]

Lloyd’s Register Takes Rules for Offshore Units Step Forward

Lloyd’s Register Takes Rules for Offshore Units Step Forward

Lloyd’s Register has launched its new Rules for Offshore Units in one single document following an in-depth consultation with industry. It signals a move by the world’s oldest classification and certification society, to modernise the way in which Rules and their guidance notes are presented to industry – and importantly how they are used by […]

Can Brazilian Iron Ore Improve Freight Rates?

Can Brazilian Iron Ore Improve Freight Rates?

The freight market, which performed so well in Q1, has certainly not delivered in the past 4 months. BDI has dropped from 1,621 on 20 March to hit 747 on July 29. Panamax ships have not been above USD 10,000 per day since February20, and below USD 5,000 per day for most of June and […]

Avance Newbuilds Burning Again

Avance Newbuilds Burning Again

Avance Gas Holding Ltd  has been informed that there has been another fire incident involving cargo tank no. 3 on board hull 1074 under construction at Jiangnan Changxing Heavy Industry shipyard in China. No casualties or injuries have been reported, and the cause of the fire and its impact is currently being investigated. This is […]

TSA Members Push for Higher Rates

TSA Members Push for Higher Rates

Member container shipping lines in the Transpacific Stabilization Agreement (TSA) are proposing an across-the board general rate increase (GRI) of at least US$600 per 40-foot container (FEU) to all destinations, effective September 1. Carriers had filed increases in their individual tariffs in late July and subsequently began notifying customers directly, according to TSA’s press release. […]

Busy Week for Nam Cheong

Busy Week for Nam Cheong

Building for stock has proven fruitful for Malaysia-based Nam Cheong Limited as the company cashes in approximately USD 90 million via sale of one Platform Support Vessel, one Accommodation Work Vessel, and two Anchor Handling Towing Supply Vessels. Leong Seng Keat, Nam Cheong’s Chief Executive Officer, said: “We are pleased to see that the strong momentum has continued, with these […]

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