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Aberdeen-based subsea construction company Subocean Group has invested almost £16 million in cable laying equipment and the refit and mobilisation of a cable-laying barge which is on long term charter to meet demand for their services in the offshore wind sector. Underlining the company's commitment to marine renewables, the company has invested &p...
Transnet Port Terminals is preparing for the next boom by creating additional capacity at Richards Bay, even though cargo volumes have declined. It is continuing with its R800 million refurbishment programme. Solly Letsoalo, the chief operating officer at Transnet Port Terminals, said yesterday that the utility was confident there would be a recovery with...
The Severodvinsk city administration has addressed Gazprom leader Aleksey Miller with a request to fund the gasification of the closed military city, including the two huge shipyards Sevmash and Zvezdochka. In a letter, Severodvinsk mayor Mikhail Grymin and the local city assembly together call on Gazprom to extend the Arkhangelsk-Nyuksenitsa gas pipeline...
Against the background of a worldwide collapse of industrial production and volumes transported, Hamburger Hafen und Logistik AG (HHLA) has reported distinct downturns in revenues and earnings. In the first three months of 2009 revenues fell back by 20 percent to 256.5 million euros and earnings before interest and taxes (EBIT) sank by 45 percent to 51.0 mi...
In the first quarter of 2009, net profit of Joint Stock Company Novorossiysk Shipping Company (Novoship) increased 2.9 times to RUR 269.777 mln, the company officially states. In the reported period, the company’s earnings increased by 20%, year-on-year, to RUR 363.009 mln. Today Novoship owns and operates 51 modern vessels aggregating 3.93 millio...
In the first quarter of 2009, net profit of Yantar shipyard (Kaliningrad) totaled RUR 106.390 mln against RUR 119.322 mln of loss in the same period of the previous year, the company states. In the reported period, the company’s earnings increased almost 4.4 times to RUR 33.996 mln. Shipyard Yantar was established on the base of the Konigsberg branc...
THE Hong Kong Government has announced plans to reduce harbour fees and charges of 27 marine-related services provided by the Marine Department costing itself HK$17.8 million (US$2.2 million) a year, according to a communique. If approved by the Legislative Council after it is introduced for debate May 20, the fees cuts will come into effect on July 10, s...
INTERNATIONAL Container Terminal Services Inc (ICTSI) suffered a first quarter net profit decline of 44 per cent year on year to US$19.51 million on the back of 16 per cent less revenue at $110.04 million. The Manila-based terminal operator attributed less profit to lower volumes brought about by the decline in global trade and the depreciation of currenc...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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