Steve Durell, a 27-year veteran of Irving Shipbuilding and until recently its President, is no longer with the company. The circumstances surrounding his departure are not publicly known. Ross Langley, Vice-Chairman, will be responsible for assuming his duties until a permanent replacement is found.
As Canadian Sailings reported in its October 22 issue, it appeared that BHP Billiton was set to sell its controlling share in the Ekati diamond mine in the Northwest Territories. Recently, BHP confirmed that it was selling its stake in the mine, as well as its diamonds marketing operation in Antwerp, to Harry Winston Diamond Corp, a Toronto-listed publicly held company which already owns a 40 per cent stake in the nearby Diavik diamond mine, in a joint venture with Rio Tinto. The sale will be for cash of $500 million.
The Kuehne + Nagel Group reported improved results in the third quarter of 2012 due to volume increases in seafreight and airfreight and greater attention to cost management. Compared to the previous year’s third quarter, revenues grew by 12.4 per cent and gross profit by 6.9 per cent. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved by 3.1 per cent in the third quarter 2012 compared to the previous year’s period.
During the first nine months of 2012, Port of Hamburg handled total tonnage of 98.1 million tonnes, down 0.8 per cent from a year earlier. Container traffic (6.7 million TEUs) fell 0.6 per cent. The downturn in container traffic was due to a decline in trade with China. During the first nine months of 2012, Port of Hamburg handled 2.0 million TEUs in trade with China, which represented a decline of 11.6 per cent compared to 2011. All other container trade lanes produced positive increases.
Agility reported a net profit of KD 9.75 million and earnings per share (EPS) of 9.81 fils, compared to the Q3 2011 net profit of KD 8.05 million and EPS of 8.04 fils. Excluding one-off items in Q3 2011, EBITDA increased 65% compared to the same period last year. Revenues increased from 329.7 million KD a year ago to 363.4 million KD.