• 2014 July 18 15:11

    Port of Rotterdam reports financial result for H1 2014

    The Port of Rotterdam Authority’s turnover in the first half of 2014 increased by € 8.6 million compared to the first half of 2013, the company said in its press release. The net result slightly increased (by € 1.8 million) in comparison to the first half of 2013. The impact of the increase in turnover is somewhat damped by the increase in depreciation and interest charges. The cash flow in the first half of t he year was negative. Total investments are expected to drop from € 263 million in 2013 to approximately € 203 million in 2014, and as such fall back to the level prior to the construction of the Maasvlakte 2. One of the largest investments in recent years in existing port area, the widening of the Amazonehaven, was commissioned in 2014.

    Turnover in the first half of 2014 increased by € 8.6 million compared to the first half of 2013. This is primarily due to an increase in revenues from contracts (+5%), particularly for sites on the Maasvlakte 2. In addition, the port dues (0%) stayed the same due to a small increase in throughput combined with a moderate pricing policy. Operating expenses, on a half-yearly basis, are slightly lower than in 2013 (€ 9.6 million) primarily due to lower personnel (-4%) and operating expenses (-9%). This is offset by higher depreciation and financial expenses. The higher depreciation is due to the high investment volume in prior years. The increase in financial expenses is primarily due to a decrease in the capitalisation of interest during construction compared to last year due to the commissioning of the Maasvlakte 2. Preparation costs were incurred for the new participating interest in Brazil (€ 4 million) which, among other things, caused the result from participating interests in the first half of 2014 to become negative. Together these developments caused the net result in 2014 to increase somewhat in comparison to the first half of 2013 (€ 1.8 million). The development of the result is in line with expectations and provides the solid financial basis required to be able to realise investment ambitions and meet commitments.

    Due to the construction of the Maasvlakte 2, the Port of Rotterdam Authority’s level of investment has been very high in recent years, particularly in 2010 - 2013. Total investments are expected to drop from € 263 million in 2013 to approximately € 203 million in 2014. This brings the investment level back to what it was prior to the construction of the Maasvlakte 2. Widening of the Amazonehaven, approximately € 200 million, one of the largest investments in the existing Rotterdam area was fully completed for use in April 2014. The Port Authority’s goal is to continue to invest vigorously in the port area.

    A healthy cash flow is needed to be able to meet commitments and to continue to be able to invest in the port's infrastructure. Due to a growth in the operating result the operating cash flow has increased (€ 177.2 million) in the first half of 2014. Payments related to investment (€ 99.3 million) and the dividend (€ 87.4 million) constitute the largest part of the cash flow from investing activities and financing activities in the first half of 2014. On balance, the total cash and cash equivalents have decreased in comparison to the beginning of the financial year (€ 27.6 million). In the first half of 2013 there was an increase (€ 69.4 million) which was primarily due to the drawdown of a loan in the amount of € 450 million. A large part of this amount at the time was used for investments. In addition a repayment (€ 295 million) has been made of contribution received in 2011 and 2012 of the State. The cash flow is expected to improve in the second half of 2014 in comparison to the first half of 2014.

2020 April 2

18:27 FSL Trust completes disposal of crude oil tanker
18:07 CMA CGM announces that this Low Sulphur Surcharge is not applicable
17:54 Aleksandr Tsybulsky appointed as Acting Governor of Arkhangelsk Region
17:31 MAN Energy Solutions's low-speed, dual-fuel engines pass 1,000,000 operating hours
17:16 VARD secures contract for one stern trawler for Framherji
16:59 DHT Holdings announces time charters for six of its VLCCs
16:30 Navigation season opens on the Lower Volga
15:48 PGNiG commences operations at Klaipėda LNG Reloading Station
15:15 World’s largest and most efficient krill trawler to be designed by Wärtsilä
15:13 SMM: Shipping industry steers towards digitalisation
14:49 Bunker prices show no considerable changes at the Far East ports of Russia (graph)
14:26 Vitol Group establishes foothold in Singapore bunker operations
14:02 A.P. Moller - Maersk completes acquisition of Performance Team
13:37 Law ranking heavy fuel oil as medium distillate comes into effect
13:14 Hapag-Lloyd announces GRI from East Asia to East Coast and West Coast of South America, Mexico, Caribbean and Panama
12:52 Covid-19: Passenger transportation by seaborne transport and traffic of small-size ships banned in Crimea
12:25 ABP update: port perations remain open for business
12:01 ABS expands remote survey services
11:28 IMO urges keyworker exemptions for crew changes and repatriations
11:18 Tallink Grupp’s vessel Victoria I to make two return trips on Tallinn-Helsinki-Tallinn route on 2-3 April
10:43 Russian President signs Decree on establishment of Marine Instrument Engineering Corporation
10:21 Brent Crude futures price is up 12.5% to $27.83, Light Sweet Crude – up 10.5% to $22.44
10:06 Jan De Nul nears completion of fabrication of foundations for Taiwan’s Changhua Offshore Wind Farm
10:00 Financing of Nizhegorodsky hydrosystem project to be redistributed in favor of NOVATEK’s projects
09:59 VARD signs contract with P/F Akraberg for the design and construction of a sophisticated unit
09:46 MABUX: Bunker market this morning, Apr 02
09:19 Baltic Dry Index is down to 624 points

2020 April 1

18:36 Diana Shipping announces direct continuation of time charter Ccontract for m/v Myrto with Cargill
18:06 CMA CGM to apply Port Congestion Surcharge for reefer cargo to Philippines (Manila and Subic ports)
17:54 Oil shipments via CPC Marine Terminal in 3M’20 climbed by 4.7% YoY to 16.93 million tonnes with new monthly record set in March
17:35 New BIO SEA BWTS approved by USCG and IMO
17:20 Throughput of port Azov in 3M’2020 fell by 19% to 1.38 million tonnes
17:05 PowerCell signs contract with leading European shipyard regarding fuel cell system worth MSEK 77
16:35 The EU funded FLAGSHIPS project supports construction of a hydrogen fuel powered barge push boat
16:04 Wärtsilä receives contract to upgrade 11-year old Vessel Traffic Monitoring and Information System (VTMIS) serving ports in Cyprus
16:02 Höegh LNG applies for LNG import licence in Cyprus
15:30 OOCL updates Trans-Pacific services in April & May
15:04 THE Alliance announces COVID-19 response measures for April 2020
14:53 Frigates of RF Navy's Black Sea Fleet conducted exercise in Mediterranean Sea
14:43 Launch of Dimecc’s Sea for Value programme paves the way for remote pilotage and safer fairway navigation
14:22 Wärtsilä launches actions to mitigate the impact of COVID-19 and withdraws its market outlook
14:19 Competition announced for construction of Bagayevsky hydrosystem’s Phase 2
13:26 Transit navigation opened in Azov-Don Basin of Russia’s IWW
13:02 Ocean Yield extends standstill agreement and restructuring outline with Solstad Offshore for the vessels Far Senator and Far Statesman
12:00 ABS to class a series of Silver Eagle self elevating drilling units
11:25 Russian Railways' network loading down 3.8% to 306.7 million tonnes in 3M’ 2020
11:01 New shipping service gives boost to growing breakbulk segment in Rotterdam
10:42 Start of cruise navigation season postponed at Passenger Port of Saint-Petersburg
10:14 APM Terminals Mobile completes phase-three expansion to increase capacity
09:54 Brent Crude futures price is down 2.2% to $25.78, Light Sweet Crude – down 0.1% to $20.46
09:33 Bunker prices continue falling at the port of Saint-Petersburg, Russia
09:16 MABUX: Bunker market this morning, Apr 01
09:12 Baltic Dry Index is down to 625 points

2020 March 31

18:06 APM Terminals Nigeria donates $US 200,000 to UN Nigeria Basket Fund
17:51 New publication offers updated maritime security guidance for mariners operating off West Africa and Gulf of Guinea
17:36 Manila ports fear shut down due to continued cargo congestion
17:20 Floating workshop of RF Navy's Baltic Fleet completed tasks in Mediterranean Sea
17:06 Yang Ming reveals 2019 financial report
16:55 State Duma of Russia approved in first reading expansion of resource base for LNG production projects
16:23 Rolls-Royce supplies innovative propulsion system for new multi-purpose vessels in the North and Baltic Seas