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Shipping firm CMA CGM sees industry rebound continuing this year
Container shipping group CMA CGM said it expects a rebound in the industry to continue this year on the back of brisk economic growth, playing down the immediate impact of geopolitical tensions.
French-based CMA CGM, one of the world's biggest container lines, reported on Friday a $701 million net profit for last year, confirming its turnaround after a shipping downturn in 2016 when it suffered a $452 million loss. "We are rather optimistic about 2018, despite the geopolitical problems," Chairman and CEO Rodolphe Saade told Reuters by telephone. "It's too early to say if it will go as well as 2017 but the indicators are positive."
Still, tensions ranging from protectionist trade measures taken by the United States to a diplomatic spat between Britain and Russia or political uncertainty in Italy, were a source of concern as they could affect business and consumer confidence. CMA CGM, controlled by the Saade family, said its operating margin of 7.5 percent in 2017, up from 0.2 percent in 2016, was the best in the container shipping sector and reflected healthy demand allied to efficiency measures.
Its volumes increased 21.1 percent last year to nearly 19 million containers, including a 10.9 percent year-on-year rise in the fourth quarter.
CMA CGM had benefited from consolidation in the sector, including its acquisition of Singapore-based APL line in 2016 and last year’s launch of vessel-sharing partnership Ocean Alliance with Asian partners, it said.
Saade said there were few remaining takeover targets in container shipping after a wave of deals since 2016 but his group would remain to open to opportunities. The consolidation, including market leader Maersk’s takeover of Hamburg Sud, has almost halved the number of global container shipping firms since 2015.Posted On:19-Mar-2018
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Wartsila acquires Transas to accelerate its Smart Marine Ecosystem vision
Wartsila acquires Transas to accelerate its Smart Marine Ecosystem vision LNG Industry Wartsila acquires Transas for $258m Splash 247GLOBAL: Wartsila announces acquisition of Transas BunkerspotFull coveragePosted On:19-Mar-2018
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Ferry with 500 passengers still disabled, Inner Japan Sea. Video.
Ferry FERRY FUKUOKA II with some 600 passengers on board collided with buoy which marks shallows at around 1930 Tokyo time Mar 18 southwest of Akashi, Honshu, Inner Japan sea, while en route from Osaka to Shimoji. Understood ferry collided with buoy while avoiding collision with passing ship. Ferry was brought to anchor near accident site and as of 1400 Tokyo time Mar 19, was still at anchor. It is said, that propeller can be entangled in buoy s chain and damaged by chain, and had to be surveyed by divers.Posted On:19-Mar-2018
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Drewry: Europe-ECSA Box Volumes Break Three-Year Losing Streak
Container shipments from Europe to East Coast South America reclaimed dominance in 2017 as they broke a three-year losing streak by registering first annual growth since 2013. The southbound trade achieved a volume increase of 12% in 2017 to reach 850,000 TEU, shipping consultancy Drewry said citing figures from Datamar. Split by region of export, growth from the smaller Mediterranean market was strongest, rising by 15% to 250,000 TEU, while North Europe exports to ECSA increased by 11% to 600,000 TEU.Posted On:19-Mar-2018
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EU Commission Clears Maersk Product Tankers Acquisition
EU Commission approves the acquisition of Danish Maersk Product Tankers by APMH Invest and Mitsui.Posted On:19-Mar-2018
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Disabled general cargo ship under tow, North Atlantic Mar 18 Update
Mar 18 Update: The ship suffered steering failure, according to Halifax Shipping News.ca. ATLANTIC LARCH was replaced on Mar 16 by CCGS Sir Wilfred Grenfell and CCGS Louis S. St-Laurent, tug was contracted by owner. On March 17 she reached Port Hawkesbury, Cape Breton Island, Nova Scotia, and was brought to anchor. Photo by CCGS.Posted On:19-Mar-2018
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Tanker collided with cargo ship, both damaged, oil leak, Japan
Product tanker SHOEI MARU NO.8 was disabled after collision with general cargo ship DONG KUN 7 at night Mar 17, south of Nishimura, southeast Honshu, Pacific. Both ships sustained damages, understood serious. Tanker loaded with some 500 tons of oil product probably breached, leak mentioned. At 0600 Tokyo time tanker was adrift in vicinity 33 25N 135 22E. Later both ships were taken to Tanabe Bay north of collision site, either escorted by tugs, or towed. As of 1730 Tokyo time, both were in Tanabe Bay with two tugs nearby. Understood DONG KUN 7, which was en route from Korea to Tagonoura Japan, also sustained serious damages.Posted On:19-Mar-2018
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German cargo ship troubled in English Canal and again in North sea
General cargo ship JENNIFER H encountered engine problem at around 0800 UTC Mar 16 in English Canal north of Barfleur, while en route from Spain to Nordenham (Bremerhaven). The ship contacted MRCC Jobourg and asked permission to anchor for repairs. The ship resumed sailing at around 2100 UTC, but in the afternoon Mar 17 she was disabled again, some 8 nm northwest of Calais. She was again brought to anchor, dragged anchor at one time and was approached by French SAR tug Abielle Languedoc, but managed to fix problem and resumed sailing late at night Mar 17. At around 1300 UTC Mar 18 she was looking like troubled again, being NUC and seemingly drifting. As of 1400 UTC Mar 18, she was adrift in North sea, some 35 nm off Belgium coast.Posted On:19-Mar-2018
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Two Indian ships take part in UAE-India naval exercise
Two prominent ships of the Indian Navy are taking part in the maiden UAE-India bilateral exercise named Gulf Star 1 , which is taking place off the coast of Abu Dhabi from Saturday to Thursday (March 17 to 22), according to the Indian Embassy in Abu Dhabi.
INS Gomati (Guided Missile Frigate) and INS Kolkata (Guided Missile Destroyer) are participating in the exercise, which is part of the Comprehensive Strategic Partnership and will further strengthen defence cooperation between India and the UAE, said a press release issued by the embassy on Sunday.Posted On:19-Mar-2018
Credits: gulfnews.com |
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DP World acquires Peru company for $316M
DP World, a global leader in ports operations, on Sunday announced its latest $315.7 million acquisition, giving a further fillip to its ongoing ambitious network expansion drive. The Dubai-based company, which operates a portfolio of 78 marine and inland terminals supported by over 50 related businesses in over 40 countries, completed the acquisition of Peru s Cosmos Agencia Maritima (CAM).
Sultan Ahmed bin Sulayem, group chairman and CEO of DP World, said the acquisition supports the Dubai-based group s recent strategy of extending its core business into complementary sectors. The latest acquisition follows DP World s announcement that it would invest $1.4 billion in 2018, mainly in the UAE where its flagship Jebel Ali Port is located, as well as in Ecuador, Somaliland, South Korea, Mozambique and Egypt.Posted On:19-Mar-2018
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Sohar benefits from SmartPort system
Trelleborg’s marine systems division has supplied its SmartPort technology package to Sohar Port and Freezone, in Oman. Previously, Trelleborg had supplied the port with Quick Release Hooks (QRHs), Docking Aid Systems (DAS), fenders and SafePilot Portable Pilot Units (PPUs). However, while each solution provided a touchpoint for data collection, they were supplied across disparate projects, so were not integrated and were manually managed. The port was determined to take a more holistic approach to operations and Trelleborg has been working to evolve its business model to support smart, connected technologies. So the request by the Omani port was well-timed.Posted On:19-Mar-2018
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DMCA Showcases Dubai Maritime Sector s Achievements
The Dubai Maritime City Authority (DMCA) recently highlighted the outstanding achievements of Dubai Maritime Sector Strategy (DMSS) at the recently concluded 14th Annual Gulf Ship Finance Forum in Dubai. The DMCA s participation was in line with its efforts to enhance the local maritime environment to attract global industry leaders and catapult Dubai into the ranks of the world s best maritime capitals.
"The DMCA is at the forefront of boosting the competitiveness of the emirate’s maritime sector according to the directives of the country s wise leaders to build a modern, secure, and sustainable maritime sector to support the economic development of Dubai and the UAE. It has implemented key policies supporting leading maritime businesses and human capital development, in addition to numerous initiatives supported by advanced maritime infrastructure, modern facilities, and integrated logistics services to attract global investors to Dubai," said Amer Ali, Executive Director of Dubai Maritime City Authority.Posted On:19-Mar-2018
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Carlyle exits Asia-focused maritime investment joint venture GCI
The Carlyle Group has exited its joint venture Greater China Intermodal Investments (GCI), an Asia-focused maritime assets investor, by selling its stake to partner US-based Seaspan Corporation. As per the deal, Seaspan Corp acquired the remaining 89 per cent it did not own in GCI.
"The consideration to selling shareholders will be cash of approximately $330 million and a $50 million issuance of Seaspan Series D preferred shares," an announcement by Seaspan said last week. It further added that the implied enterprise value of GCI is approximately $1.6 billion, including assumed third party net debt of approximately $1 billion and $140 million of future vessel payments. In 2011, The Carlyle Group and Tiger Group Investments Partner along with Seaspan Corporation, the Washington Family, Gerry Wang and Graham Porter had come together to acquire over $5 billion in container, dry bulk, tanker vessels and other shipping assets to capitalize on increasing demand in the shipping sector.Posted On:19-Mar-2018
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Australian and ASEAN pursue maritime code of conduct
Australian and ASEAN pursue maritime code of conduct Nikkei Asian ReviewSoutheast Asia is increasingly turning to India instead of the US or China CNBCSoutheast Asia leaders back sanctions against North Korea Times of IndiaAsean leaders tackle Rohingya crisis and urge South China Sea calm The News International (blog)Full coveragePosted On:19-Mar-2018
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Shipping, data and avoiding becoming the Uber drivers of the seas
How shipping can utilise big data to avoid yet further commodisation of its service and improve safety of operations was a topic panelists at grappled with at the Connecticut Maritime Association (CMA) conference last week. On a panel on the second day Christopher Rex, head of research at Danish Ship Finance, asked the question of how shipping, which is clearly commoditised already and getting more so in an age of slow growing trade flows, could pick up additional streams of economic value. His main focus is to identify "ways to turn shipping data into an asset that could be monetized" and, in so doing, point the industry away from its present path where "ships are turned into Uber drivers, simply hoping to secure their next ride".Posted On:19-Mar-2018
Credits: www.seatrade-maritime.com |
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