Hanjin alliance partners lose out with transpacific market share up for grabs
By Mike Wackett
The four remaining members of the CKYHE alliance are the biggest losers in the Hanjin Shipping bankruptcy, in terms of market share on the transpacific trade. Alphaliner data shows that Cosco, K Line, Yang Ming and Evergreen have either lost Asia-U.S. market share since 1 September, or have recorded flat volumes. Other carriers on the route, including Hanjin’s South Korean compatriot Hyundai Merchant Marine (HMM), have all seen carryings increase since Hanjin’s sudden demise, said the consultant.
New CSL video explains how self-unloading ships work
Gravity-fed self-unloaders are highly specialized vessels that can quickly and efficiently discharge dry bulk cargo without the assistance of shore-side equipment or personnel.
In a recently released video, CSL demonstrates how these vessels use gravity to release cargo onto conveyor belts through gates located at the bottom of the vessel’s cargo holds. The cargo is then transported to an elevating system, lifted above deck level, transferred onto a discharge boom conveyor and offloaded via a discharge boom.
The rapid discharging rate of self-unloaders and their reduced infrastructure and labour requirements make this bulk cargo-handling option an effective and competitive solution that helps keep costs down and minimize environmental impacts.
The video is available at: https://www.cslships.com/en/media-center/videos/how-does-self-unloading-ship-work
A transportation mode whose time is Now
By Wendy Zatylny, President, Association of Canadian Port Authorities
Last year brought many challenges to marine transportation. The drop in commodity prices and the Canadian dollar made for a tumultuous 2015 but, at the same time, many of Canada’s Port Authorities saw revenues grow in other sectors such as containers and the cruise industry.
CN and CP announce first-quarter results
Both of Canada’s major railways reported first quarter results for the period ended March 31. CN was once again able to produce revenue growth that was considerably in excess of the growth rate of the economy.
During the quarter, CN’s revenues rose 9.2 per cent to $2.7 billion, well above the growth rate of the economy. However, with operating expenses increasing by 11.1 per cent, operating income rose by a more modest 5.1 per cent. Overall net income before income taxes rose from $733 million to $822 million. Cash flow from operations increased to $645 million during the period, up from $321 million during the same period of 2013, mostly because of improved cash management. “Free” cash flow, the amount remaining from operating cash flow after subtracting net investments made during the quarter and dividends paid to investors, increased from negative $38 million during the first quarter of 2013 to positive $288 million, mostly because of improved cash management.
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