Hellenic Shipping News Worldwide Hellenic Shipping News Worldwide, Online Daily Newspaper on Hellenic and International Shipping

Argentine farm exports brought in some $743.5 million in October, a 25% fall from the same month last year, an industry group said on Wednesday, confirming the impact of drought and election-related market conditions. The combined oilseed industry and grains export chambers CIARA-CEC said that exports in the first ten months of the year were down 50%, or about $17.5 billion, from the same period in 2022. Argentina is the top global exporter of processed soy oil and meal, the No. 3 for corn and a major producer of wheat. ...

Port of Tanjung Pelepas (PTP), a joint venture between Malaysian based MMC Group and Hague based APM Terminals has been named the winner of the Human Resource Development Corporation (HRD Corp) Awards 2023 under the Excellence In Graduate Development (Future Worker) and Excellence In Technical Vocational Education Training (TVET) category. Held at The Majestic Hotel, Kuala Lumpur, the awards were presented to Marco Neelsen, PTP Chief Executive Officer during HRD Awards 2023 Gala Dinner, officiated by Dato’ Sri Haji Fadillah Haji Yusof, Deputy Prime Minister 2. Also in attendance was ...

IAPH is delighted to have announced the winners of the #IAPH2023 Sustainability Awards during this evening’s official gala dinner of the IAPH World Ports Conference in Abu Dhabi. IAPH Managing Director Patrick Verhoeven commented : “With 86 projects submitted from 50 ports from 28 different countries in 2023, we warmly congratulate all five ports who have been selected by both our expert jury and over 4000 members of the voting public as winners in their categories. Four out of the five ports win their IAPH Sustainability Award for the first ...

India’s Adani Enterprises reported a near 50% drop in second-quarter profit on Thursday, hurt by weakness in its key coal trading division due to a fall in prices. The Adani group’s flagship company posted a consolidated profit of 2.28 billion rupees ($27.40 million) for the quarter ended Sept 30, down from 4.61 billion rupees a year ago. Coal prices have fallen from the record highs hit last year and have stabilised from the volatile situation in 2022 when Western sanctions on Russia pushed up global prices. The company’s mainstay coal ...

In scrapping its hard yield ceiling of 1%, the Bank of Japan has taken a huge step towards dismantling a widespread assumption at the heart of G10 monetary policy for decades – the idea of a central bank ‘put’. Justified or not, a perception had built up among investors since the days of former Fed Chair Alan Greenspan that the Federal Reserve – and later, other central banks – would always eventually ease credit to support wobbling asset markets when price falls threatened to snowball. Perhaps that thinking was more ...

Germany’s manufacturing sector, which accounts for about a fifth of its economy, remained mired in a downturn in October due to weak demand, a survey showed on Thursday. The HCOB final Purchasing Managers’ Index (PMI) for manufacturing rose to 40.8 in October from 39.6 in September, increasing for the third month in a row but still far below the 50 level that separates growth from contraction. “It seems clear that manufacturing is still in a downturn for the current year,” said Cyrus de la Rubia, Hamburg Commercial Bank (HCOB) chief ...

As preparations for the sixth China International Import Expo (CIIE) enter the final stage this week, companies and representatives attending the expo expressed their enthusiasm and confidence that the event will offer a gateway for them to explore and expand their business in China. The 6th CIIE, which will be the first complete return to in-person exhibitions since the outbreak of the COVID-19, has seen record attendance by the world’s top companies. China’s Ministry of Commerce (MOFCOM) said that 289 of the world’s top 500 and industry-leading enterprises will be ...

Accelleron has supported a turbocharger overhaul on the hospital ship MV Africa Mercy, operated by non-governmental organization Mercy Ships. The support, in the form of discounted labor, will enable the vessel to continue its mission of delivering free medical care and training to people without access to safe surgery, including in some of the world’s most vulnerable developing economies. The 43-year-old vessel, which houses five operating rooms and a recovery ward for more than 80 patients, was drydocked at DORMAC Shipyard in Durban, South Africa following its most recent deployment. ...

November 2023 – 2022 was another record year for North American PLM integration and migration expert PROSTEP, Inc. This marks the fourth consecutive year of record growth. PROSTEP’s enterprise-grade commercial off the shelf (COTS) software for PLM integration, migration and collaboration, data exchange, and digital thread led growth with a 40% increase in year-over-year bookings. PROSTEP, Inc. does not publish specific financial figures independently of the PROSTEP Group’s annual report. Leading companies in numerous industries continued to evolve and re-define best practices for their organizations throughout 2022. PROSTEP, Inc. noted ...

German unemployment rose more than expected in October, Labour Office figures showed on Thursday, showing some cracks in what has been a very resilient labour market. The Federal Labour Office said the number of people out of work increased by 30,000 in seasonally adjusted terms to 2.678 million. Analysts polled by Reuters had expected the total to rise by 15,000. “For a good year now, the German economy has more or less been treading water,” said Andrea Nahles, chairwoman of the Federal Employment Agency, noting that this was taking its ...

Dutch and British gas prices were mixed on Thursday morning as lower temperatures raised demand for heating while full storage tanks limited gains. The Dutch December contract TRNLTTFMc1, the new front-month benchmark, was up by 0.55 euros at 47.35 euros per megawatt hour (MWh) by 1002 GMT. The January contract TRNLTTFMc2 slipped 0.35 euro to 49.25 euros/MWh. In Northwest Europe, temperatures are expected to be 1.7 degrees Celsius lower on day ahead and through the weekend. LSEG analyst Wayne Bryan said that there was a bullish ramp up in demand ...

U.S. natural gas futures slid about 2% on Thursday on record output and forecasts for milder weather and lower heating demand next week than previously expected. That price decline came even though the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants rose to a near-record high. The price decline also came ahead of a federal report expected to show a bigger than usual storage build last week when mild weather kept heating demand low. Analysts forecast U.S. utilities added 80 billion cubic feet (bcf) of gas ...

On 1st November 2023 the first vessel in the series of three 7800 dwt multipurpose newbuildings for Langh Ship has been named and delivered to Langh Ship. The highlight of the celebration was when 3-year-old Miss Greta Lovisa, daughter of the vessel’s owner family member Linda Langh, cut the ribbon to release the champagne bottle. The name of the vessel is Lovisa, following the traditions of the Langh family to name its vessels after the women in the family. In addition to the name giving of the vessel, the ceremony ...

Belgian oil tanker firm Euronav EUAV.BR on Thursday beat analysts expectations and more than doubled its core profit in the third quarter from the same year-ago period, helped by higher sales and high freight rates. The market for very large crude carriers (VLCC) “has improved due to increased frequency of loadings from higher USA crude production”, Euronav said in a statement. Although freight rates fell modestly during the quarter, they still remained strong when compared to historic averages since 1990, Euronav added. Earnings before interest, taxes, depreciation and amortisation (EBITDA) ...

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has exited its 35% equity investment in Atlantic Terminal Services Limited (ATSL), the concessionaire for the expansion of Ghana’s Takoradi Port, to the global ports and container terminals operator Yilport Holding. This is testament to the Corporation’s ability to attract international 3rd party capital and exit strategic infrastructure assets built by derisking through AFC’s unique project development and construction offering. In 2019, AFC committed to invest up to US$138 million in equity and debt for the Takoradi Port Expansion ...