SINGAPORE's Neptune Orient Lines (NOL), the parent company of its container unit APL, has issued S$400 million (US$320 million) in five-year bonds under its $1.5 billion medium-term debt programme after the failure of issuing a proposed perpetual-bond a few weeks ago due to poor subscription.
The bond, with an interest rate of 4.25 per cent per annum, is the third tranche of the debt programme, which is expected to be issued on April 26. Temasek is Singapore's state-owned investment company and holds 67 per cent of NOL.
NOL raised S$580 million in two previous tranches with a longer 10-year term. NOL reportedly plans to use some of the money to repay its $422 million debt due in 2012. The company experienced a net loss of $478 million in 2011 and is likely to have significant net loss and negative operating profits in the first quarter.
Shipping Gazette - Daily Shipping News
MEGA shipping alliances are not breaching antitrust rules, according to Aitken Spence Maritime and Logistics chairman Parakrama Dissanayake, who sought to allay shippers' feats that such blocs pose a threat, reports Sri Lanka's Sunday Observer.
Dr Dissanayake pointed out that four mega shipping alliances MSC and CGM, Maersk Line, Grand Alliance and New World Alliance and CKYHA - Evergreen from Asia to Europe control a shipboard capacity of 13.4 million TEU and a market share of 85.8 per cent. From January to April this year the four shipping alliances increased freight rates 60 per cent compared to last year.
Notwithstanding rate increases, the global fleet in the 8,000-TEU category will grow by 25 per cent this year posing a threat to freight rates and profitability of shipping lines.
In this backdrop, Maersk Line expects losses again this year as announced by its chairman of its parent group recently at its annual general meeting.
Dr Dissanayake said that under the current European Union regulations, each consortium within major east and west trade lanes can have a maximum market share of 30 per cent. Maersk Line controls 19.3 per cent as against MSC/CGM-CMA's 29.9 per cent on the Asia-Europe route. Grand Alliance and New World Alliance have 17.3 per cent while CKYH and Evergreen have 18.4 per cent.
"Therefore, it is evident that the mega shipping alliance recorded so far does not appear to break any antitrust rules. However, in the short term, shippers would not be able to do much as the regulations come up for renewal again only in 2013," Dr Dissanayake said.
He said mega consortia will provide shippers with better service frequencies and port coverage. Also further membership in lines will be better placed to compete against "daily Maersk service from Asia to North Europe."
Dr Dissanayake said that a question is being posed: "Will all this lead to fewer transshipments since ocean carriers will gain economies of scale to call at secondary ports?"
Shipping Gazette - Daily Shipping News
GERMANY's global liner shipping company, Hapag-Lloyd, has signed an agreement with the Dubai global shipping and logistics provider GAC to handle their vessels calling at ports in Nigeria and Ghana.
GAC will act as full liner agents for Hapag-Lloyd, actively selling its liner services in the region, as well as providing a range of shipping agency and complementary services for its fleet, the company said.
The deal comes as part of Hapag-Lloyd's strategy to develop and expand its presence in sub-Sahara Africa. Currently, the company operates a fleet of 150 container vessels with 300 offices in 114 countries.
GAC Nigeria managing director Neale Proctor, to lead the business, said: "GAC and Hapag-Lloyd share the same sound, ethical values and approach to business, evident in a commitment to looking after people, going the extra mile to surpass customer expectations, operating in an environmentally-aware way and having active social responsibility programmes. Both companies also combine global presence with strong local knowledge.
"In Africa, we have similar strategic ambitions, including the desire to take advantage of the opportunities in the region's largely untapped markets. Together, GAC and Hapag-Lloyd will last the course," Mr Proctor said.
GAC has operated in Nigeria since 1978. The company has been building its reputation in its chosen markets since 1956 and employs over 9,000 people in more than 300 offices worldwide.
Shipping Gazette - Daily Shipping News
WUHAN, the big city in the middle reaches of the Yangtze, plans to invest CNY114.8 billion (US$18.2 billion) in logistics infrastructure, including 173 construction projects over the next four years, reports Xinhua.
The municipal government will boost logistics sector development in industries of business trades, manufacturing, ports and bonded area. It will build around its downtown six complex logistics park and eight specialty logistics centres covering medicine, bonded area, dangerous chemicals, cold chain, automobiles, steel, home appliances and production materials, and build about 100 distribution depots at business congestion areas, key industry areas and large communities.
Wuhan's logistics sector revenue stood at CNY1.5 trillion in 2010, accounting for 10 per cent of municipal GDP.
Shipping Gazette - Daily Shipping News
MALAYSIA's Northport has appointed a new chief executive officer, Abi Sofian Abdul Hamid, 50, who says his first task will be to improve customer retention and ensure container capacity development schemes stay on track as well as making sure new quay cranes and rubber tyred gantries (RTG) arrive and are put to work.
"The main priority now is to ensure no disruption to business operations. Necessary enhancements and improvements which can add value will be implemented as the need arises," he told the Malaysia Star.
Mr Hamid replaced Hassan Abdul Kader, 59, who retired after 19 years at Northport, after his contract expired on March 31.
"I would like to thank Tun Ahmad Sarji Abdul Hamid, the chairman of NCB Holdings or the opportunity to take Northport to the next level of excellence," he said.
"I will also ensure Northport is the port of choice in nation building. Human capital development to complement capital infrastructure development will be the way forward to enhance the values and spirits of our team at Northport," said the new chief executive.
Northport and Kontena Nasional are wholly owned by NCB Holdings, which in turn is 55.9 per cent owned by Permodalan Nasional and 15.7 per cent by the regional container line MISC.
Northport hopes to lift 3.2 million TEU this year and is expected to increase its capacity to 5.5 million TEU from the current five million a year once it completes the development of wharf 8A that would eventually be operated as CT4.
Shipping Gazette - Daily Shipping News
CANADA's largest railway, the Canadian National (CN), has posted a 16 per cent increase in first quarter net profit to C$775 million (US$782 million) year on year drawn on revenues C$2.3 billion, which went up 13 per cent.
Revenue increases were also attributed to higher freight volumes, robust pricing and fuel surcharges. Carloads went up 5 per cent during the quarter year on year.
Metals and minerals brought in 31 per cent more revenue, coal, 18 per cent; intermodal, 17 per cent; petro-chemicals, 15 per cent; automotive, 13 per cent and forest products, 10 per cent.
Operating income surged 23 per cent to C$793 million, while the operating ratio was 66.2 per cent, a 2.8-point improvement over last year's first-quarter performance of 69 per cent.
Operating expenses for the first quarter increased by eight per cent to C$1.6 billion, mainly due to higher fuel costs as well as labour and fringe benefits expense. These factors were partly offset by lower casualty and other expenses.
Said CEO Claude Mongeau: "While CN benefited from a milder winter and improving economic conditions, our very solid first-quarter results underscore that our strategy is working. The CN team did well on all key fronts, delivering high-quality service while handling solid volume growth at low incremental cost."
Shipping Gazette - Daily Shipping News
INDIA's Transglobal Inland Container Services in Thrissur, Kerala, has sent the first consignment of food products to the International Container Transhipment Terminal (ICTT), Vallarpadam, reports the Hindu daily of Chennai.
The export consignment belonging to Global Exporter was loaded on to the vessel, Rajiv Gandhi at ICTT.
Announcing the opening of the ICD (inland container depot), Transglobal chairman MA Nazer said that the new facility would offer excellent services for handling and temporary storage of import and export containers.
Its 4,645-square feet warehouse is equipped with modern handling system of forklifts and reach stackers, while providing electronic data interchange (EDI) networks on site, he said.
Mr Nazer also said that they had established a single window system that includes all customs formalities inside ICD which ensure smooth transition at ICTT Vallarpadam. The International Container Terminal will get further strength and support from this ICD facility, making trade and transport fast and safe.
Transglobal chief executive NS Ramachandran said the INR550 million (US$10.7 million) depot is being promoted as a total logistics operator hub. The ICD has specialised in transport, warehousing and network operations, providing top class and comprehensive services under one roof.
The ICD operations of the group is being supported by a full-fledged skilled team of dedicated people with the latest infrastructure facilities, said the Hindu report. With the commencement of ICTT operations at Vallarpadam, the group has already received invitations from various international companies to join hands for international shipping and logistics support, Mr Ramachandran said.
Shipping Gazette - Daily Shipping News
CONTAINER volume through state-run harbours of the Philippines Ports Authority (PPA) increased six per cent to 417,842 TEU in January year on year with domestic box movement up 20 per cent to 162,539 TEU while foreign boxes fell one per cent to 255,303 TEU.
Import containers increased by three per cent to 129,510 TEU, while exports decreased five per cent to 125,793 TEU, reported the Philippines Business Mirror.
According to PPA data, its more than 100 ports nationwide handled 12.67 million tonnes for the first month of the year, about one per cent more than the 12.53 million tonnes it handled last year. Foreign cargo increased two per cent to 6.93 million tonnes.
Data showed import cargo slowed two per cent to 4.59 million tonnes with export cargo up four per cent to 2.34 million tonnes. Domestic cargo increased two per cent to 5.73 million tonnes.
Shipping Gazette - Daily Shipping News
DEUTSCHE POST-DHL has acquired the 24 per cent stake held by the Lemuir Group in its joint venture, DHL Lemuir Logistics, in India for an undisclosed figure, Transport Intelligence of UK reported.
Through the share acquisition, Deutsche Post DHL now owns a 100 per cent stake in the joint venture in the subcontinent. Following the purchase, the company has been renamed DHL Logistics Private Ltd.
Oscar de Bok, CEO, South and Southeast Asia, DHL Supply Chain, said, "Our partnership with Lemuir has substantially reinforced our foothold in the Indian domestic logistics industry. It has helped to put us on the road of accelerated growth."
Shipping Gazette - Daily Shipping News
THE Civil Aviation Administration of China (CAAC) is expected to give its approval for the launch of Ningxia Cargo Airlines, the first cargo carrier based in western China.
The new cargo entity, based in the Ningxia Autonomous Region, has a registered capital of CNY120 million (US$18.98 million). Shanghai Chongda International Freight Co, which has a 40 per cent holding, is the major stakeholder, while Shanxi Tongyang Investment Management has a 25 per cent stake. The remaining shareholders are Shanxi Xiangyu Logistics Co, Xian Huijie Logistics Co, and Shanxi International Air Freight.
The new venture has a Boeing fleet of 737 and 747 freighters and it plans to use pilots and MRO professionals from Turkish Orex Orbit Express Airlines, reports the Maryland's Air Transport World.
Industry analysts said it will be difficult for Ningxia Cargo to make a profit initially because of the downturn in the air cargo industry and weak competitive position of domestic cargo carriers. FedEx, UPS and DHL, mainly in economically stronger eastern China, dominate China's air cargo market.
Shipping Gazette - Daily Shipping News
CHINA Cargo Airlines, the joint venture of Eastern Airlines and Cosco, has inaugurated a new cargo service connecting Shanghai and Chongqing to Amsterdam, Xinhua reports.
The new service offers two flights per week using Boeing 777 aircrafts, bringing an extra capacity of 100 tonnes weekly to Chongqing.
China Cargo Airlines is the fourth air cargo carrier that launches European service at Chongqing. Shanghai-Chongqing-Amsterdam service is its third international cargo service launched at the city.
Shipping Gazette - Daily Shipping News
RUSSIA's AirBridgeCargo Airlines (ABC) won't make money on the first its two Boeing 747-8 freighters for six months, but hopes to profit from China's "Go West" policy with heavy loads from Chengdu and Chongqing to Europe, says airline president Tatyana Arslanova.
"We're swimming against the stream," Ms Arslanova said during a Frankfurt ceremony to mark the delivery of the second aircraft, also noting a 75 per cent profit decline to US$59.3 million of its parent company Volga-Dnepr Group.
ABC is taking advantage of the "Go West" policy that boosts industrial growth in western China with a focus on IT manufacturing, and has started service to Chengdu three times a week. Chongqing joins the schedule from this summer, taking ABC's mainland China destinations to six from three a year ago.
ABC sales vice president Wolfgang Meier described the move as "part of our strategy to diversify and strengthen to other [European] industrial centres, and we can't rule out others."
An advantage ABC claims over rival operators on the Asia-Europe lane is that it is serving Russian manufacturing centres. It has added new routes to Yekaterinburg, Krasnoyarsk and Novosibirsk with Khabarovsk in Russia's far east following soon.
Ms Arslanova said the new plane, increasing the ABC fleet to twelve 747 freighters, brought a double-digit improvement in unit costs against its 747-400s. The operating economies they offer meant they would be deployed primarily on the Beijing and Shanghai routes.
Volga-Dnepr Group revenues increased 10 per cent to US$1.74 billion in the first 10 months of 2011 year on year. Cargo volume was up 14 per cent to 372,500 tonnes with ABC contributing 104,960 tonnes as the group increased freight-tonne kilometres eight per cent. Overall ABC achieved a load factor of 71 per cent.
There is some uncertainty as to the exact extra payload the 747-8F can carry, reports Roswell, Georgia's Air Cargo World. Analysts have claimed the aircraft ended up eight to 10 tonnes heavier than first expected, limiting payload and range. But Boeing 747 programme manager Elizabeth Lund says a redesigned wing more than compensates for this.
The plane is 5.6 metres longer than its predecessor, giving four additional main-deck and three more lower-hold pallets; this translates to a 16 per cent higher revenue cargo volume with Boeing promising a 140-tonne payload. A senior ABC executive at the Frankfurt delivery ceremony, said the carrier had already flown 135 tonnes and hoped improvements would increase it to 145 tonnes.
Shipping Gazette - Daily Shipping News
2012-04-24
The 8,100 TEU APL Finland represents the maiden voyage of the six-member shipping company alliance’s weekly Far East/Europe service to Scandinavia’s busiest container port.
Gothenburg, Sweden ‐ The recently established G6 Alliance has added direct service Gothenburg, Sweden to its weekly Far East/Europe port rotation with the first vessel call of the APL Finland at APM Terminals Gothenburg, the busiest container facility in Scandinavia.
The G6 Alliance was created in December 2011 through the consolidation of the New World Alliance member lines APL, of Singapore; Hyundai Merchant Marine, of South Korea; and Mitsui O.S.K, of Japan, with Grand Alliance member lines NYK, of Japan; OOCL, of Hong Kong; and Hapag-Lloyd, of Germany. The new alliance operates a combined fleet of more than 90 containerships on nine strings serving more than 40 ports in Northern Europe, the Mediterranean and the Far East.
The G6 weekly call is the second direct service linking Gothenburg with Asia, and will provide links to the Chinese ports of Shanghai and Ningbo, as well as Singapore in Southeast Asia; Jeddah on the Red Sea; Tangier, Morocco in the Mediterranean and Bremerhaven and Rotterdam in North Europe.
“We are very proud to welcome the G6” said APM Terminals Gothenburg Managing Director Keld Pedersen, adding “we have added two new liner services this year with MacAndrews (with service to the British Isles) and now the G6, which further strengthen our commercial service as the largest container terminal in the Scandinavian area.”
Gothenburg’s container terminal handled 810,000 TEUs in 2011, and as of January 4th has been operating as APM Terminals Gothenburg. The 25-year concession agreement calls for the investment over $15 million over the next five years, including three new super-post Panamax cranes as the APM Terminals Global Terminal Network establishes Gothenburg’s deep-water facility as a major North European hub for the growing Scandinavian and Baltic markets.
Source APM Terminals
Icelandic Group PLC is delighted to announce that it has achieved Marine Stewardship Council certification for all its cod and haddock originating from Iceland.
The Icelandic Group Companies – which in the UK are Seachill, Coldwater and Icelandic UK – will now be able to supply cod and haddock from Iceland with the sustainable fisheries ecolabel of the MSC. All gear types have been included – trawled, line caught and seine net – enabling cod and haddock to be bought fresh or frozen in retail, wholesale or food service.
Icelandic Group is now taking a leadership role and is exploring making the certification an inclusive process for the Icelandic fishing industry through certificate sharing mechanisms. Following the certification, all cod and haddock from Iceland fisheries – a total allowed catch of 160,000 tonnes of cod and 50,000 tonnes of haddock per year – will be eligible to bear the blue MSC ecolabel.
Lárus Ásgeirsson, CEO of Icelandic Group, said: “We’re delighted to receive MSC certification, following an extremely rigorous process involving peer reviews within the public consultation process. Iceland has a long and proud history of supplying high quality fish, and now with the independent certification of the Marine Stewardship Council, it can be sold as sustainable.”
“The decision to undergo MSC certification for Iceland cod and haddock was market driven and is a clear sign to our customers that we are committed to the highest levels of sustainability possible. This is an outstanding result for Icelandic Group as a whole and for our companies.”
Rupert Howes, Chief Executive, MSC, said: “It is a great pleasure to congratulate Icelandic Group on the historic MSC certification of their cod and haddock fisheries. These fisheries enjoy a strong reputation for sustainability and I am delighted that Icelandic Group chose MSC certification to demonstrate that sustainability to the market.
There is now a clear business case for MSC certification and this is particularly true in the Northern Europe markets where Icelandic cod and haddock are sold. Icelandic Group’s commitment to MSC certification clearly aligns their brands with the highest standards of demonstrable sustainability those markets are asking for. “
Source MSC
National Holding Company "Uzbekneftegas" reported on the activities in the first quarter of the year. Mining enterprises of the Republic in view of foreign investors produced natural gas at 103.8% of forecast volumes, liquids production - 100% of the forecast.
Gas processing plants also produce liquefied natural gas and polyethylene.
Industrial enterprises of "Uzbekneftegas", taking into account foreign investors under the production sharing agreements, in the 1st quarter of 2012 produced output of more than 2 trillion soums ($ 1.08 billion on the rate of Central Bank of Uzbekistan), which is - 100.8%, with growth at constant prices 104.2%. Consumer goods worth 147.3 billion soums ($ 79.5 million), or 107.6% of the budgeted figure, were produced.
Asian News Service, en.ca-news.org
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