2018 was a great year for both of Canada’s railways.
For the fourth quarter CN’s revenues were up 16 per cent, and for the year revenues were up by 9.9 per cent to a record $14.3 billion. Operating income rose during the fourth quarter to $1.45 billion from $1.3 billion, resulting in a gross margin of 38.8 per cent. For the year, CN’s operating income rose to $5.5 billion from $5.25 billion, resulting in a gross margin of 38.4 per cent. Net income before taxes for the year rose 11.6 per cent to a record $5.7 billion. Cash flow from operations increased by 7.3 per cent to $5.9 billion. “Free” cash flow, the amount remaining from operating cash flow after subtracting net capital expenditures made during the year and dividends paid to investors, decreased from $1.6 billion to $1.25 billion. (more…)
Avantida, headquartered in Antwerp, Belgium, announced that ZIM has partnered with it to offer street turn services in the United States through Avantida’s platform that facilitates services offered by ocean lines to transport and logistic companies for optimized container transport planning. ZIM is joining Maersk to offer this service to U.S. transporters. Maersk introduced the Avantida platform to the U.S. and Canada last month.
Avantida’s platform facilitates empty container triangulation, or the reuse of an import container for an export booking (street turn). The process offered by ZIM not only provides dispatchers and planners requesting street turns with an accurate, reliable response, it also reduces time, transport costs and CO2 emissions as truck miles are reduced. (more…)
By Theo van de Kletersteeg
With carbon taxes and concern over climate change once again in the limelight, I thought it might be opportune to update an article that was published in Canadian Sailings in November of 2017.
Scientists and green supporters have explained to us during the past decade or so that global temperature increases must be kept well below 2°C above pre-industrial levels, if we wish to avoid the more egregious consequences of climate change. Accordingly, the 2015 Paris Agreement requires that signatories to the Agreement implement programmes to reduce national carbon emissions to levels that are thought to result in global temperatures to be kept in check, and to “pursue efforts to limit the temperature increase to 1.5°C”, compared to the 0.9°C temperature rise that has taken place since 1870. (more…)
Ocean Group has acquired Techsol Marine, a Quebec-based specialist in electro-mechanical marine systems. Techsol designs, installs and commissions automation systems used to monitor and control machinery on ships operating on all kinds of ships around the world. Its installed base represents more than 400 vessels operating worldwide. The acquisition, which complements Ocean Group’s existing expertise, will allow Ocean Group to expand its operations in Canada and to continue its global expansion.
“We are pleased to contribute to the development of this company with a real know-how, while bringing back the ownership of the company in Quebec. We are convinced of the great potential of Techsol Marine and want to invest in growing its market share in Quebec, Canada and internationally”, said Jacques Tanguay, President and CEO of Ocean Group.
Techsol Marine designs, produces, installs and commissions integrated ship automation and control systems, electrical distribution systems, and integrated propulsion systems. Until its acquisition by Ocean Group, Techsol was owned by RH Marine B.V. of the Netherlands.
Bruce Burrows, President to the Chamber of Marine Commerce, said: “We are pleased that the government has made some refinements to this year’s mitigation measures that will continue to protect the endangered right whales and at the same time increase the efficiency of deliveries of supplies to the surrounding communities that depend on marine transport. The changes will allow ships to travel without speed restrictions in two additional shipping areas, but only if surveillance continues to show that no whales are present.” (more…)