CMB, Belgian dry bulk shipping company, said on Tuesday that it had decided to cancel the orders for four vessels with South Korean shipbuilder Samjin as the yard was not able to respect the contractually determined delivery dates. The newbuilds relate to hulls 1052, 1053, 1054 and 1055, according to the company. An amount of […]
COSCO Pacific Limited has announced the unaudited condensed consolidated results of the company and its subsidiaries for the six months ended June 30, 2014. The Group’s revenues rose by 11.4%. Revenues from the terminals business rose by 18.9%, and revenues from the container leasing, management and sale businesses rose slightly by 2.1%; Gross profit fell by […]
Norwegian ocean transportation company Odfjell SE said in its second quarter results that its Chemical Tankers had an EBITDA of USD 24 million, compared with USD 17 million in the first quarter. The company recorded improved utilisation with only minor interruptions of trade, with improved time-charters by 10%. Odfjell’s shareholding in the tank terminals business delivered […]
Israel’s shipping company ZIM Integrated Shipping Ltd. has published its results for the second quarter of 2014, on the backdrop of the successful conclusion of its debt restructuring on July 16, 2014. Under the terms of restructuring, Israel Corporation’s holding in ZIM was reduced from 100% to 32%. ZIM said that it was continuing execution of […]
Denmark’s shipping and oil group A.P. Moller-Maersk has upgraded its 2014 outlook following the release of Q2 results revealing that the company’s profits nearly tripled. The Group says that the earnings increased following the sale of majority stake in its retail business, higher freight volumes and lower costs. The group delivered a profit of USD 2.3bn (USD […]
In the first half of 2014, Hamburger Hafen und Logistik AG (HHLA) increased its revenue by 5.2 percent to USD 795.9 million and improved its operating result (EBIT) by 3.4 percent to USD 108.7 million. HHLA has confirmed its forecast for the full year 2014. “Hamburger Hafen und Logistik AG achieved a favourable performance in the first half […]
Hapag-Lloyd, Germany’s shipping powerhouse, has posted results for the first six months of 2014. The company reports a decrease in revenue compared to 2013, even though more cargo was shipped than in the first six months of 2013. At around 2.9 million TEU, 5.8% more cargo was shipped compared to the last year’s 1H results. […]
Philippines-based International Container Terminal Services, Inc. (ICTSI) reported unaudited consolidated financial results for the first six months of 2014, posting revenue from port operations of USD 510.3 million, an increase of 23 percent over the USD 413.7 million reported for the same period last year. 23% revenue increase compared to 2013 Earnings Before Interest, Taxes, Depreciation […]
Tsakos Energy Navigation Limited (TEN) has reported unaudited results for the second quarter and first six months of 2014. TEN achieved net income of USD 14.8m in the first six months of 2014, a significant improvement over the first half of 2013 when the recorded net income was 0.5m. Operating income for the same period […]
During the first half of 2014, freight tonnage at Belgium’s Port of Zeebrugge was up 3.7 percent in comparison with 2013’s first semester. The port handled a total of 22,040,932 tonnes. The best results were set in the container sector and the roll-on/roll-off traffic, as informed by the port. Roll-on/roll-off traffic rose with 5.8 […]
