Home / Author Archives: hellenicshippingnews...

Author Archives: hellenicshippingnews...

MARKET SNAPSHOT FOR 27/02/2021

NASDAQ-Adv: 1,497 Dec: 2,555 NYSE-Adv: 1,642 Dec: 2,568(Source: Nasdaq)

Read More »

U.S. drillers add rigs for seventh month in a row, pace slows – Baker Hughes

U.S. energy firms this week added oil and natural gas rigs for a seventh month in a row for the first time since May 2018, but the rate of growth in February slowed even as oil prices rose to their highest since 2019. The oil and gas rig count, an early indicator of future output, rose five to 402 in the week to Feb. 26, its highest since May, energy services firm Baker Hughes Co said in its closely followed report on Friday. But with just 18 additions, the pace ...

Read More »

CMA CGM to Dedicate Six New LNG-Powered Vessels to Service U.S. Customers

Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, a world leader in shipping and logistics, announced he would dedicate six liquefied natural gas (LNG) powered containerships to the U.S. market as part of the Group’s ongoing efforts to improve air quality and drive forward the energy transition of the shipping industry. Rodolphe Saadé made the announcement at the opening session of TPM, the premiere conference for the trans-Pacific and global container shipping and logistics community. Six 15,000-TEU LNG-powered vessels to call the U.S. The first of ...

Read More »

Golar LNG Partners LP preliminary fourth quarter and financial year 2020 results

Golar LNG Partners LP generated operating income of $32.2 million for the fourth quarter of 2020, exclusive of its interest in FLNG Hilli Episeyo. The Partnership reported net income attributable to unit holders of $20.7 million for the fourth quarter after accounting for $0.4 million of non-cash mark-to-market interest rate swap gains. The Partnership generated distributable cash flow1 of $31.6 million for the fourth quarter resulting in a distribution coverage ratio1 of 22.09. Golar Partners entered into an agreement and plan of merger (“the merger”, “the merger agreement”, or “the ...

Read More »

The Mission To Seafarers Launches New E-Learning Modules For Seafarers

International seafarer welfare charity, The Mission to Seafarers has today announced the launch of its new e-learning modules as an extension to its WeCare programme. In response to the added pressures on seafarers during COVID-19, the two face-to-face programmes are being moved online to provide greater accessibility. WeCare was launched by The Mission to Seafarers in January 2019. The goal of this ambitious new initiative was to address an issue at the very heart of seafarers’ mental health and wellbeing: relationships and emotions. Both courses are designed to help seafarers ...

Read More »

KVH Partners with Smart Ship Hub for KVH Watch Maritime IoT Solution

KVH Industries, Inc., (Nasdaq: KVHI), announced yesterday that remote vessel and voyage management platform Smart Ship© Hub is now a KVH Watch® Solution Partner and will offer KVH Watch services as part of its wide range of remote technical and operational management solutions. The Smart Ship Hub platform provides performance advisory and predictive diagnostics for vessel performance optimization as well as remote video-based maintenance and surveys and a wide range of related services that rely on real-time data feeds. “The pillars of Smart Ship Hub’s services include remote tracking, monitoring, ...

Read More »

Samudera Shipping records 89% jump in FY2020 earnings, to pay special dividend

Samudera Shipping Line has reported FY2020 revenue of US$347.9 million, down 6.9%. However, thanks to a combination of lower operating costs, mainly fuel, it was able to report 89% y-o-y jump in earnings to US$7.2 million. For the year ended Dec 31 2020, the shipping line based out of Indonesia handled a 7.5% jump in container volume. From 1.2 million twenty-foot equivalent units handled back in FY2019, the company handled 1.3 million TEUs last year, thanks to a “sharp turnaround” in container shipping activity in the second half of the ...

Read More »

Rovco Announces Shift in Executive Team while CEO Targets Scale-Up Tech Company for Wider Industrial Robotics Market

Rovco, leading provider of marine robotic and hydrographic services coupled with state-of-the-art technology, today announced an executive shift focus within the company. Simon Miller will take over as new Managing Director of Rovco, while newly appointed CFO and Director, Nick Boorman will lead the group alongside CEO, Brian Allen, who turns his attention to the development of a new start-up technology company, Vaarst. The news marks the continued expansion of the company during a period of sustained growth, as the number of Rovco employees reaches 57. Simon Miller, newly appointed ...

Read More »

Launch of the Nigerian Port Sector Process

In a bid to improve Nigeria’s ranking on the Corruption Perception Index (CPI) and to promote transparency, eliminate bottlenecks and illegal demands at seaports and terminals, the Nigerian Government has launched its Nigerian Ports Process Manual (NPPM). This manual is a collation of various processes extracted from standard operating procedures of stakeholders in the port sector. The aim is to improve operations, service timelines, efficiency and accountability in the port sector. The Nigerian Shippers’ Council (NSC) has been appointed as the implementation lead agency for NPPM, while all federal government ...

Read More »

International trade activity booming through U.S. Southern California ports

The twin ports of Los Angeles and Long Beach in Southern California’s San Pedro Bay are experiencing a massive spike in import-export activity, sourced primarily from Asia including China, which is taxing their usually efficient systems to their limit and slowing shipping traffic to a crawl. “We are seeing record-breaking container traffic through the Port of Long Beach,” Port of Long Beach (POLB) Executive Director Mario Cordero told Xinhua on Tuesday, confirming 21.9 percent growth in January 2021 over the year before, and a record fourth quarter 2020 that was ...

Read More »

Guangzhou targets transport hub role

Guangzhou, capital of Guangdong province, is promoting the construction of a global transportation hub by increasing investment in the building or expansion of its airport, ports, high-speed railway lines and expressways. It will also enhance infrastructure connectivity with Hong Kong and Macao and other major cities in the Guangdong-Hong Kong-Macao Greater Bay Area to speed up construction of a world-class Bay Area, said Zhou Qingfeng, deputy director of Guangzhou’s development and reform commission. “As a national core city, Guangzhou will be able to play a leading role in coordinating and ...

Read More »

CPC crude shipments may increase by 12.5% on year in 2021: official

The Caspian Pipeline Consortium has received bids for crude deliveries via its network in 2021 totaling 67.5 million mt, CPC General Director Nikolay Gorban told journalists Feb. 25. This is equivalent to around 1.44 million b/d, using a conversion rate of 7.8 barrels per metric ton. It would represent a 12.5% increase on deliveries of around 1.28 million b/d in 2020. “We don’t know if all of these bids will be fulfilled, everything depends on global market conditions, and the demand situation,” Gorban said, adding that CPC is prepared to ...

Read More »

SOYBEANS EASE FURTHER FROM 6-1/2 YEAR TOP; CORN, WHEAT ALSO LOWER

Chicago soybean futures fell for a second session on Friday as a slowdown in U.S grain exports and broad losses in financial markets encouraged soy prices to ease from a 6-1/2 year high. Corn and wheat also dropped for a second day in the wake of Thursday’s lower than expected weekly U.S. export sales, which tempered concern about tightening global supply that have fuelled multi-year highs in Chicago grains in the past month. The U.S. Department of Agriculture (USDA) said on Thursday that weekly export sales of soybeans totalled 238,700 ...

Read More »

Fitch Ratings Revises Global Metals and Mining Price Assumptions

Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from returning demand while the supply response remains slow and inventories are running low. Our revision of all iron ore price assumptions is the most significant change and is driven by tight market supply, which we expect to continue in the next couple of years, and the absence of material new projects over a long period that could offset depleting mines. Vale has cut its production guidance ...

Read More »

Copper set for best monthly gain since 2016 on tight supply, demand outlook

Copper prices were set to notch their best month since 2016 on low inventories and a bright outlook for demand, despite a slight easing on the day as a week-long rally in industrial metals ran out of steam. Three-month copper on the London Metal Exchange CMCU3 was down 0.8% at $9,333.50 a tonne by 0316 GMT on Friday. The contract, however, gained 18.7% so far in February, set for the best month since November 2016. On Thursday, LME copper hit its highest since August 2011 of $9,617 a tonne, only ...

Read More »

Recent Videos

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