by Canadian Sailings | Feb 25, 2018 | Bruce Striegler, Business and Economy, Ocean, Ocean Carriers, Other
By R. Bruce Striegler
Viterra Inc.’s Vancouver Cascadia and Pacific Terminals
Viterra operates six port facilities in its network, shipping grains, oilseeds and pulses to customers in over fifty countries. This includes the Cascadia and Pacific Terminals at the Port of Vancouver. The Cascadia terminal handles wheat, durum, canola, barley and rye, with a storage capacity of 280,000 tonnes. Over the past several years, Viterra invested more than $100 million in the Pacific Terminal, which opened in 2016 and tripled the terminal’s annual handling capacity to more than six million tonnes. Originally constructed in the 1920s, the Pacific Terminal is comprised of the original National Harbours Board facility and the original Alberta Pacific Grain Co. Viterra assumed ownership in 2007.
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by Canadian Sailings | Feb 4, 2018 | Ocean, Ocean Carriers, Other
By Alexander Whiteman
Despite a return to growth in its bottom line, Kuehne + Nagel’s nine-month results released today failed to impress investors. The forwarder remains some way off analysts’ expectations for full-year 2017 targets.
Following a first quarter which saw profits decline year-on-year, followed by flat results for the six months to June, K+N now reports growth in net earnings for the nine months to September – albeit of just 1.3 per cent, to Sfr540 million ($553 million). The weak return in profits came despite revenue for the nine-month period, increasing 10.4 per cent year-on-year to Sfr13.5 billion, with gross profits climbing 4.8 per cent to Sfr5.1billion.
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by Canadian Sailings | Feb 4, 2018 | Ocean, Ocean Carriers, Other
By Mike Wackett in Busan
Following the catastrophic failure of Hanjin Shipping last year, the other South Korean ocean carriers still need to work hard to regain the confidence of shippers and counter parties. That was the view of many delegates attending the 11th annual World Ocean Forum (WOF) in Busan last week.
Money owed to approved Hanjin creditors, which includes shipowners, ports, terminals, container leasing companies and other service providers, has passed the $10 billion mark, and the final total could double that. However, even at $10 billion, the liquidators expect to be only able to return $0.02 in the dollar to the creditors.
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by Canadian Sailings | Feb 4, 2018 | Ocean, Ocean Carriers, Other
By Mike Wackett
Greek containership owner Danaos has painted a gloomy picture for the box ship charter market in 2018. It says it does not expect a “material improvement in the market environment”. Although the non-operating owner (NOO) was able to find new charters for the vessels – once they had been released from the clutches of other Hanjin creditors – the daily hire rates are thought to be at least 60 per cent lower than those agreed with Hanjin. Danaos owns a fleet of around 55 containerships, ranging in size from 2,200 TEU up to 13,100 TEUs.
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by Canadian Sailings | Feb 4, 2018 | Business and Economy, Ocean, Ocean Carriers, Other
By Alex Lennane in Miami
E-commerce offers significant opportunities to the logistics industry, including ocean carriers, according to retailers. Frank Diaz, Executive Vice-President of Price Smart, a U.S. warehouse chain and retailer and one of the top 50 container exporters in the U.S., urged the logistics industry to help it compete with etailers.
“E-commerce is generally difficult to make profitable,” he told delegates at Air & Sea Cargo Americas in Miami on November 1. “You have to do all the things the customer used to do – go to the store, drive home. The challenge is to make that profitable, and we are relying on the logistics industry to help us with that. Etailers have capitalized on one thing – a customer preference to shop online with 24/7 access to shops. That has changed the overall landscape and changed the bar. Prices must be complemented with the right shopping experience.”
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by Canadian Sailings | Feb 4, 2018 | Alex Binkley, Business and Economy, Government and Regulation, Ocean, Ocean Carriers, Other
By Alex Binkley
Federal legislation to ban oil tankers from the northern section of the British Columbia coast is inconsistent with provisions of the U.N. Law of the Sea and should be subject to regular reviews, shipowner groups say.
In submissions to the Commons Transport Committee study on the bill, the Chamber of Shipping and the Shipping Federation of Canada called the bill an unjustified move that interferes with maritime commerce. Meanwhile the International Chamber of Shipping (ICS), which represents the world’s national shipowner associations and 80 per cent of the world merchant fleet, warned, “Such a draconian step could lead to serious concerns being raised by Canada’s international trading partners.” Simon Bennett, ICS’s Director of Policy and External Relations, said, “We would instead encourage Canada to continue its strong history of environmental protection and support for responsible global trade through the implementation of practical measures consistent with international best practices. This includes respecting IMO’s’s role in developing safe and sustainable shipping regulations and recommendations that might address any concerns that Canada may have.” The global shipping industry “fully recognizes the importance of robust environmental protection measures, and is committed to the goal of zero pollution, consistent with the comprehensive global regulatory framework adopted by the IMO in accordance with the U.N. Law of the Sea to which Canada is a State Party,” he said.
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