Pacific Tycoon
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Hapag-Lloyd was able to increase its freight rate (by an average of 3.2 percent), transport volume and revenue in the past financial year. Despite the challenging economic environment, Hapag-Lloyd achieved an EBITDA of EUR 335 million and an EBIT of EUR 26 million in 2012, allowing it to once again do well when compared with [...]
In a move to remain competitive in the container ship market, the Japanese carrier has ordered five “new generation eco-friendly” ultra-large container vessels. The five new 13,870 TEU ships, ordered from Imbari Shipbuilding, will replace existing ships in the fleet and the aim is to strengthen the efficiency and cost-competitiveness of the carrier’s containership business. The [...]
Last month the Georgia Ports Authority (GPA) released statistics for the Fiscal Year 2012. Located in the Southeastern part of the U.S., with an expansive coastline along the Atlantic Ocean, the importance of Georgia ports to the U.S. economy was reaffirmed with new cargo volume records being set in the state for total tonnage, containers, [...]
The Norwegian oil and gas producing company, Statoil, is expanding its reach throughout Norway and Malaysia as announced in new business deal agreements on the company’s website. As part of the first agreement, the company will begin delivering liquefied natural gas (LNG) to Petronas at that company’s LNG import terminal in Malaka, Malaysia. Due to [...]
Despite commencing operations only five years ago, Abu Dhabi Terminals (ADT) has unequivocally staked its claim as a formidable foe in the Middle Eastern shipping container industry. In 2011, ADT handled a total of 767,713 twenty-foot equivalent units (TEUs), which accounts to a remarkable growth of 47% from 2010’s total volume. ADT currently operates [...]
The Port of Newcastle in New South Wales Australia set a new monthly coal export record during April, as it exported a total of 11.8 million tonnes of the precious commodity. To be precise, the 11,821,317 million tonnes of coal exported last month was slightly more than the previous monthly record set in December 2011 [...]
Tsakos Energy Navigation Limited (TEN) has announced the order of a new LNG carrier. The Greek company will be adding to its fleet with the purchase of the new state-of-the-art LNG carrier that will be constructed in South Korea and delivered to TEN in early 2015. John Stavropoulos, Chairman of the TEN Board, said about [...]
The United States Army Corps of Engineers (USACE) recently released the Savannah Harbor Expansion Project (SHEP) final documents, which outline the steps necessary to complete the project. According the USACE study, the project is estimated to run at $652 million, while providing a $174 million annual profit. The study says that for every dollar invested [...]
Compared to February 2011, container volume at the Port of Charleston this past February increased 9.2%. The largest port in South Carolina handled over 119,000 twenty-foot equivalent units (TEU’s), while increasing its cargo volume from January of this year by 5.8%. Jim Newsome, president and CEO of the South Carolina Ports Authority said, “We are [...]
A news release from the Maryland Port Administration revealed that the Port of Baltimore generated a 15% increase in the total volume of cargo handled in 2011. The port handled 37.8 million tons of cargo last year- up from the 32.8 million tons handled in 2010. The total value of the cargo handled last year [...]
