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 | Business and Economy, Ocean, Other, Ports and Terminals
By Brian Dunn
Although the town of Sept-Îles has a population of only 25,000, it punches above its weight in maritime shipping and is one of the bigger terminal operations for Quebec Stevedoring Co. Ltd. (QSL) which has 30 port facilities, stretching from St. John’s in the east to Chicago in the west.
It’s not only mining that drives QSL, although it accounts for the bulk of its business in Sept-Îles, according to QSL CEO Robert Bellisle who noted the company will be celebrating its 40th anniversary in 2018.
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by Canadian Sailings | Feb 4, 2018 | Business and Economy, Mark Cardwell, Ocean, Other, Ports and Terminals, St. Lawrence, Seaway and Great Lakes
By Mark Cardwell
The port of Sept-Îles is quickly becoming a popular international cruise ship destination in Eastern Canada. Eight years after its inaugural cruise season, when it welcomed three ships with 5,000 passengers, the port was visited eight times by five different ships carrying a total of 8,000 passengers during the 2017 sailing season.
The last and most notable visit was an unexpected stopover by the Queen Mary 2. The 350-metre-long ship was scheduled to make its inaugural visit to Sept-Îles on Sept. 28, 2018. However, the Cunard-owned transatlantic ocean liner made an unscheduled stop on October 2, and berthed there from 9 a.m. to 5 p.m. The 8-hour stop was booked just two weeks earlier to replace a visit to the port of Gaspé that Cunard cancelled over the speed limit that Canada imposed in a section of the Gulf of the St. Lawrence to protect endangered right whales.
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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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