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SIPG full year profit down 3% to $1bn

PostTime:2016-03-31 08:04:12 View:770

Shanghai International Port (Group) Co (SIPG) has posted a net profit of RMB6.56bn ($1.01bn) for 2015, down 3% from the gain of RMB6.77bn in 2014. While profit has dipped, the Chinese port operator reported a 2.5% year-on-year increase in annual revenue to RMB29.51bn. Shanghai-listed SIPG said the higher revenue was due mainly to increased box throughput, even as China’s economic growth is slowing down. Last year, SIPG registered a container throughput of 36.54m teu, up from 35.29m teu in 2014, making Shanghai the world’s busiest container port. SIPG noted that Shanghai port has maintained throughput growth for the past six consecutive years since 2010. Meanwhile, in the first two months of 2016, Shanghai port has handled a throughput of 5.53m teu, a decline of 3.5% compared to the previous corresponding period.

Shanghai Waigaoqiao, Beihai Shipbuilding land $680m order to build eight VLOCs

PostTime:2016-03-25 08:01:43 View:271

Shanghai Waigaoqiao Shipbuilding (SWS) and Qingdao Beihai Shipbuilding Heavy Industry have landed an order to each build four VLOCs worth a total of $680m from China Merchants Energy Shipping (CMES). CMES announced to the Shanghai Stock Exchange that the newbuilding order for the eight 400,000-dwt mega ships was placed at the Chinese shipyards on 23 March in Shenzhen, China. The shipowner also booked two VLOCs at China Merchants Heavy Industry (Jiangsu), making up a total of 10 ships. The price tag for each ship is $85m. The Chinese shipowner said the order follows the signing of a 27-year charter contract with Brazil’s Vale to transport some 16m tonnes of iron ore each year. The charter deal is scheduled to start in the first half of 2018. The first new VLOC is slated to be delivered in the first half of 2018, and the fourth unit is due no later than end-2019.

Shanghai port handles slightly higher box volumes in February

PostTime:2016-03-11 07:52:12 View:236

China’s Shanghai port has handled marginally higher container volumes in February compared to the same month of last year, according to figures from Shanghai International Port (Group) Co (SIPG). Container throughput in February 2016 was recorded at 2.59m teu, up a mere 0.8% from 2.57m teu seen in the previous corresponding period, data from SIPG showed. On a month-on-month comparison, however, last month’s throughput dropped by 11.9% from 2.94m teu registered in January. Over the first two months of 2016, Shanghai port moved a total box throughput of 5.53m teu, a decline of 3.5% compared to 5.73m teu in the same period of 2015.

Shanghai-listed CSIC to transfer ownership of two engine units to parent firm

PostTime:2016-02-29 09:04:40 View:232

Shanghai-listed CSIC Ltd, a unit of China Shipbuilding Industry Corp (CSIC), will transfer its 100% stake in two engine manfacturing subsidiaries to its parent for RMB589.1m ($90.1m), as part of the group’s assets restructuring. The two engine manufacturing companies are based in Chongqing and Shaanxi respectively. The deal includes the consolidation of a 80% stake in another Qingdao-based engine technology firm into the Chongqing and Shaanxi engine firms, for a combined equity disposal to the parent group. The assets restructuring followed CSIC Ltd warning of a massive loss of RMB2.5-2.8bn for 2015, compared to the profit of RMB2.28bn in 2014, due to the severe downturn in the shipbuilding industry.

Shanghai's Intermodal Asia March 22-24 expo to discuss eco concerns

PostTime:2016-02-29 08:56:40 View:273

THIS year's Intermodal Asia exhibition and conference to be held in Shanghai from March 22-24 to focus on the different issues and discussion topics at the forefront of the container transport and logistics industry.  The Container Owners Association will hold an "Industry Meeting" at the Marriott Luwan Hotel in Shanghai on March 21 to present the COA's current projects and activities.  The China Container Industry Association (CCIA) will host the official signing for the new government regulations on the environment on March 22, confirming the formation of the "Chinese container manufacturing industry green action plan."  In view of growing environmental pressures in China, the CCIA set up a container manufacturing volatile organic compounds (VOCs) work group that led to the creation of the "green" action plan. The CCIA will present their programme to interested parties at a forum that will be held on the same day as the signing ceremony.  The Asian Tank Container Organisation (ATCO) will also host a forum at the event, where several expert speakers will discuss the "Safe Transportation of Chemicals Using Tank Containers" on March 23. An "Intermodal in China Summit" will be hosted on March 23 by the Integrated Transport Federation (ITF), and supported by the CCIA, for speakers to discuss key areas of intermodal development.  Topics will include China's "One Belt One Road" initiative, an overview of port developments and the experience of a leading European sea-rail multimodal company.  Industry associations present at Intermodal Asia will include Bureau International des Containers (BIC), International Road Transport Union (IRU), Hong Kong Shippers Council (HKSC), and the Russian Intermodal Logistics Association. 

Shanghai Waigaoqiao yard first in China to build 20,000-TEUer for Cosco

PostTime:2015-12-07 08:21:48 View:297

SHANGHAI Waigaoqiao Shipbuilding Co is to build three 20,000-TEU ships for Cosco. Delivery of the vessels that are the largest ever to be ordered from a Chinese yard is due to begin in January 2018. The ships will be deployed in the transatlantic trade and dual classed by DNV GL and China Classification Society. They will feature route-specific container stowage (RSCS) from DNV GL, giving more flexibility for laden containers onboard for specific routes, reports Motorship from Fareham, near Portsmouth, England. The ships will be built 'gas ready" so that they could be retrofitted with LNG-fuelled propulsion in the future. Designed by the Marine Design & Research Institute of China (MARIC), they will have double hull protection of fuel tanks, ballast water treatment systems and will meet the highest Energy Efficient Design Index and Emission Control Areas standards. DNV GL Hamburg's business development chief Jan-Olaf Probst said Shanghai Waigaoqiao Shipbuilding "has been on a very strong development path and has consistently been one of the top Chinese yards in terms of efficiency and innovation, so it is only fitting that they are the first yard to top the 20,000 TEU mark in China".  

Shanghai port moves higher container volumes in Septembe

PostTime:2015-10-14 08:27:14 View:330

China’s Shanghai port has handled higher container throughput in September compared to year-ago levels, according to figures from Shanghai International Port (Group) Co (SIPG). In September, the Chinese port moved 3.09m teu of container volumes, an increase of 2.7% compared to 3.01m teu posted in the same month of 2014, data from SIPG showed. On a month-on-month comprison, volumes dipped by 2.2% from 3.16m teu seen in August. From January to September this year, Shanghai port recorded a total throughput of 27.4m teu, an increase of 3.6% compared to 26.45m teu registered in the same period of last year.

Shanghai Waigaoqiao Shipbuilding signs US$2.8 billion deal with EximBank

PostTime:2015-09-29 08:01:28 View:339

SHANGHAI Waigaoqiao Shipbuilding (SWS) has signed a strategic agreement with the Export-Import Bank of China where the bank will provide credit facilities to a total of CNY18 billion (US$2.8 billion) over a three-year period. China EximBank said it has been in close cooperation with SWS for more than 10 years, and supported the shipyard with close to CNY20 billion worth of credit facilities, the Seatrade Maritime News reported. The latest CNY18 billion deal this year was the single biggest deal to-date, aimed at helping the yard's current venture into building bigger and higher specification ships. SWS, subsidiary of China State Shipbuilding Corp (CSSC), delivered two 18,000-TEU mega-ships, the first of such giants to be built in China. China EximBank had supported SWS with a loan of $312 million for the construction of three 18,000-TEUers built for France's CMA CGM. The two parties said that amid the difficult business environment of the shipping and shipbuilding markets, the latest strategic cooperation is in line with the national drive to reform the maritime sector, and will allow SWS to maintain healthy growth in operations.

Shanghai port box volume up 1.6pc in August to 3.1 million TEU

PostTime:2015-09-10 08:05:59 View:346

THE Shanghai International Port (Group) Co (SIPG) has posted a 1.6 per cent year-on-year increase in container volume to 3.1 million TEU in August. In the first eight months of this year, Shanghai port registered a total container throughput of 24.3 million TEU, a rise of 3.7 per cent year on year.

Shandong Offshore International in $165m takeover of Fredriksen's Northern Offshore

PostTime:2015-06-30 08:30:59 View:513

John Fredriksen’s Northern Offshore (NOF) has agreed a NOK1.3bn ($165m) takeover offer by Shandong Offshore International Company Limited. The NOK7.59 per share offer by Shandong Offshore International has been unanimously recommended by the board of directors of NOF and undertakings to accept the offer have been received by approximately 65% of NOF’s shareholders, including Fredriksen’s Geveran Trading. A special general meeting of shareholders will be held on 15 July with a resolution requiring approval by more than 50% of NOF shareholders. The takeover will see NOF merged with Shandong International Offshore subsidiary Blue Ocean Drilling with, the acquisition expected to become effective the first half of August. “By retaining the NOF leadership team, when combined with our Blue Ocean Drilling leadership, we will have assembled a highly skilled and experienced team to direct and execute on our strategies as the new Northern Offshore Ltd. going forward,” said Yu Bing, director of Shandong Offshore International, and Sun Yuanhui, chairman of Blue Ocean Drilling. Gary Casswell, president and ceo of NOF commented: “Combining the four under construction high spec jack-ups of Blue Ocean Drilling with Northern Offshore’s two under construction state of the art jack-ups with deliveries in 2016 through early 2018, we will realize organisational synergies and have the opportunity to build additional critical mass in our current operations in the North Sea and Asia Pacific as well as position us to pursue new clients in new areas.”

Shanghai Bestway bags order for two liftboats

PostTime:2015-06-24 08:02:53 View:367

Shanghai Bestway Marine Engineering Design Co has bagged a contract to construct two self-elevating liftboats valued at a total of $116m from its associate firm Zhejiang-based Mekers Machinery. The first of the two liftboats, each priced at $58m, is scheduled for delivery 18 months after the first deposit is made, and the second unit will be delivered 15 months after work has commenced on the first unit, according to an announcement by Shanghai Bestway. Shenzhen-listed Shanghai Bestway said the deal will contribute positively to the company’s earnings in the second half of 2015 and the whole of 2016. It added that the deal is a connected transaction as both Shanghai Bestway and Mekers Machinery are majority owned by the same controlling shareholder.

Shanghai port company SIPG considers stake in Shanghai Jinjiang Shipping

PostTime:2015-04-28 08:46:53 View:384

SHANGHAI International Port (Group) Co (SIPG) has announced it is considering investing in Shanghai Jinjiang Shipping, short-sea container carrier serving the coast and Taiwan Strait. Established in 1983, Shanghai Jinjiang Shipping posted a net profit of CNY75.64 million (US$12.1 million) and a revenue of CNY1.56 billion in 2013, reported Seatrade Global. On the short-sea container shipping sector, SIPG owns Shanghai Haihua Shipping Co (Hasco), which provides container transport from China to Japan and south east Asia.