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Hyundai completes tests on largest icebreaking iron ore carrier (190,000 dwt)
South Korea's Hyundai Heavy Industries, the world's largest shipbuilder, announced the completion of the final performance test for a ship model of a 190,000 dwt ice-breaking iron ore carriers at Institute for Ocean Technology in Canada. When built, the 190,000 dwt iron ore carrier will be the world's largest ice-breaking commercial ship. The ship will measure 310 m in length and 51 m in width and will be able to navigate 1.7 m thick ice-covered waters at a speed of 6 knots without the help of an icebreaker. Hyundai Heavy Industries says the ice-breaking iron ore carrier will be able to carry twice as much cargo as any existing ice-breaking commercial ship. It will also move two times faster with a 5 percent increase in fuel efficiency.

1,770 days ago by arnekiel

Hamburg Süd teams with APL in Central America trade
Effective from September 4, 2011, Hamburg Süd reports it will expand its coverage of West Coast Central America by joining APL in a two loop service concept (WECA). String 1 (WCX – WECA1) will deploy three vessels of 1.300 TEU nominal capacity and has the following port rotation: Balboa – Puerto Quetzal – Lazaro Cardenas – La Union – Puerto Caldera – Balboa – Paita – Guayaquil – Balboa. Hamburg Süd will be providing one vessel. String 2 (MCX – WECA2) will deploy one vessel of 1.100 TEU nominal capacity and has the following port rotation: Lazaro Cardenas – Acajutla - Puerto Quetzal – Lazaro Cardenas. The new service allows for a more comprehensive coverage connecting the growing market of West Coast Central America to the Hamburg Süd network. Likewise are additional possibilities opened through the connection of Paita, Guayaquil and Balboa.

1,777 days ago by momfer

ASL Marine Holdings’ $31.9m profit within expectations
But the shipping company's revenue declined 22% to S$363.2 million. According to DBS, recent order wins of S$28m builds on order momentum and the company’s $310m orderbook translates to healthy 1.7x book-to-bill. more

MOL receives 2,000 orders for energy-saving propeller for vessels
Mitsui O.S.K. Lines and MOL Techno-Trade have received 2,000 orders for the energy-saving propeller boss cap fins (PBCF), developed by MOL, West Japan Fluid Engineering Laboratory Co., Ltd., and Mikado Japan, Ltd., and sold by MOL Tech. The PBCF is an energy-saving device attached to the propellers of a vessel. It breaks up the hub vortex generated behind the rotating propeller, resulting in a decrease of more than 9,000 tons of CO2 emissions per year due to a 3-5% reduction in fuel consumption by a large-scale containership. Research and development on the PBCF started in 1986, and sales began the following year. Since then an increasing number of shipowners, mainly in Japan, began to adopt the system. By 2006, the 19th year since the start of sales, the PBCF had been ordered for 1,000 vessels. Since then, it has gained worldwide recognition by vessel owners and operators, and the number of ships adopting it has doubled in just five years, reaching the 2,000 vessel milestone this year. At the Second International Symposium on Marine Propulsors in Hamburg, Germany, in June 2011, BMT Defence Services Ltd. of U.K. presented a paper reporting on a before and after speed test using an Aframax tanker operated by a major firm, showing nearly 4% energy saving effect. This independent study once again brought the PBCF to the attention of the shipping industry and the public. The MOL Group is promoting its next-generation vessel concept called Sempaku ISHIN, and the PBCF is one of its key technologies. Mandatory energy efficiency measures for international shipping were adopted at the International Maritime Organization (IMO) IMO environment meeting on July 15, 2011, and regulations on greenhouse gas emissions by the ocean shipping will make the PBCF even more valuable in the future. The MOL Group continues its research and development on various green technologies and promotes global environmental protection by helping reduce CO2 emissions from vessels. (EHL)

1,778 days ago by arnekiel

Maersk group profit up 8 percent in first half 2011
Maersk said its first-half profit was $2.7 billion, up 8% from $2.5 billion last year. Profit for the latest period was positively affected by divestment gain from sale of Netto Foodstores Limited, UK of $0.7 billion. Revenue for the period grew 9% to $29.9 billion from $27.4 billion in the prior-year period, primarily due to higher oil prices and container volumes.

HMM plans to order 5 13,100 TEU container ships at Daewoo
Hyundai Merchant Marine said on Wednesday that it planned to order five new container ships worth a total of 695 billion won ($638.7 million), Reuters reported. Hyundai said in a regulatory filing that the addition of the five 13,100 twenty-foot equivalent unit (TEU) vessels would help improve the competitiveness of its line-up. Local media reported the order had been placed with Daewoo Shipbuilding & Marine Engineering.

1,783 days ago by arnekiel

Hapag-Lloyd's second quarter profit drops by 87%
Hapag-Lloyd’s second quarter profit tumbled to 26 million euros ($37 million) from $294 million in the second quarter of 2010 as declining rates and higher fuel costs offset a 3.3 percent increase in container volume, the Journal of Commerce reports. The German container line said its results also were affected by soft demand for transport services in Japan following the March earthquake and tsunami, and the dollar’s weakness against the euro. Revenue for the quarter totaled $2.1 billion, down 9 percent after conversion into euros. Hapag-Lloyd said it expects continued growth for container shipping in the medium to long term but “short-term results will be influenced by high crude oil prices and pressure on freight rates as a result of tougher competition, particularly in the Asia-related trades.”

No joint venture with French shipyards group DCNS planned
In response to persistent speculation about the formation of a joint venture by ThyssenKrupp Marine Systems and the French shipyards group DCNS or a merger of the two companies, ThyssenKrupp AG issues the following statement: ThyssenKrupp Marine Systems is not planning a joint venture with the French shipyards group DCNS, nor are there any plans for a merger or other partnership or alliance with the French shipyards. No talks on this are currently being held by the companies and no talks are planned. More to read at:

1,786 days ago by arnekiel

Orient Overseas (OOCL) profit plunges 86% in first half 2011
Orient Overseas (International) Ltd, operator of Hong Kong's biggest container line, reported an 86 percent slump in its first-half profit and said it expected "difficult" conditions this year as shipping rates decline, China Daily reports. Net income fell to $175 million, or 28 cents a share, in the six months ended June 30 from $1.28 billion, or 205.3 US cents, a year earlier, the shipping line said in a statement to the Hong Kong Stock Exchange on Monday. That compares with the $65.7 million average estimate in a Bloomberg survey of three analysts. Revenue rose 6.9 percent to $2.92 billion. The shipping line handled 2.44 million 20-foot containers in the first half, up 9.4 percent year on year. Freight rates to charter container vessels have fallen as new capacity outpaced demand growth, particularly on the Asia-Europe trades.

1,789 days ago by arnekiel

Knutsen takes delivery of 105,000dwt shuttle tanker from COSCO
COSCO (Nantong) Shipyard has delivered a second shuttle tanker ‘Recife Knutsen’ for Norwegian owner Knutsen Oas Shipping. The 105,000DWT vessel measures 246.8 metres in length overall, 42 metres in breath and 22.5 metres in depth.

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