• 2019 April 3 14:27

    The Norwegian Shipowners’ Association Outlook Report 2019: Faith in the future despite tough markets

    Norwegian shipping companies in foreign trade report a total turnover of NOK 229 billion in 2018, an increase of 11 per cent from the previous year. International deep sea shipping companies in particular showed strong growth in 2018, driven by an increase in freight rates in the second half of the year. 60 per cent of shipowners expect increased revenue in 2019, while 20 per cent expect reduced revenue, and 20 per cent unchanged.

    Deep sea shipping companies are once again the largest group in the Norwegian foreign-going fleet. Revenue increased notably in 2018 and is expected to total NOK 120 billion in 2019.

    The results of the member survey show that Norwegian shipping companies' revenue from markets outside Norway made up 61 per cent of total turnover in 2018, or NOK 139 billion.

    For short sea shipping, Germany is still the largest market, followed by the UK. For deep sea shipowners, the USA and China are most important markets. Norway and the UK are most important for offshore and rig companies.

    The offshore segments anticipate continued challenging markets with a high number of ships in layup, prolonged low rates, and relatively short horizons on contracts.

    Several years of major cost reductions and efficiency improvements, combined with extensive consolidation in the supplier industry, have significantly increased profitability on the Norwegian shelf. The combination of large cost reductions and a more stable oil price, which is considerably higher than at the lowest levels, has led to very good margins for the oil companies.

    "When activity levels pick up and the markets tighten on the capacity side, the oil companies must also expect a significant increase in the rates for ship operations," says Harald Solberg, CEO of the Norwegian Shipowners' Association.

    The number of ships in layup peaked during the winter of 2017. As of February 2019, 112 offshore vessels and 20 rigs were in layup, compared to 137 ships and 25 rigs in February 2018. Norwegian Shipowners' Association members report that the figure will fall to 78 ships and 15 rigs by the end of this year. This reduction in the number of ships and rigs in layup is due to a combination of increased activity on the Norwegian Continental Shelf and sale of ships.

    In this year's member survey, half the shipping companies state that they will renew the fleet through newbuilding over the next five years. Shipowners estimate that they will contract a total of 137 ships and five rigs during that period. Most of the orders are expected to come in the transport segments, deep sea and short sea shipping. More than 40 per cent of shipping companies, primarily short sea shipowners, consider Norwegian shipyards as relevant for the construction of new vessels.

    "The short sea sector is poised for extensive fleet renewal. This is a tremendous opportunity to develop and implement new technology that will give us a more environmentally friendly and competitive short sea shipping fleet, at the same time as we develop technology for export to larger markets,” says Solberg.

    Norwegian shipowners, offshore enterprises and supplier companies are well positioned to take a larger role in the renewables market, including offshore wind. Three out of ten shipping companies have activity in the offshore wind market today.

    27 per cent of shipping companies state that they consider the offshore wind market to be interesting for their business over the next five years. Among offshore service companies, 55 per cent state that they are considering activity in the offshore wind market over the next five years.

    18 per cent of shipping companies report that they consider the aquaculture industry to be of interest in the next five years, while 14 per cent say the same about subsea mining.


2020 February 17

07:15 IAA PortNews congratulates Vyacheslav Ruksha, Deputy Director of Rosatom - Director of Rosatom’s NSR Directorate, on his birthday!

2020 February 16

16:15 Two new oceanographic vessels will join the NOAA fleet
15:13 TenneT develops first 2GW offshore grid connection with suppliers
14:52 USCG issues Captain of the Port Orders to Bouchard Transportation Vessels
13:12 Siemens builds Germany’s largest “power outlet” for ships for Port of Kiel
12:34 Naval Group presents its industrial and academic cooperation plan with Greece
11:16 MARAD announces more than $280 million in grants for US coastal seaports

2020 February 15

14:51 Holland Shipyards holds keel-laying ceremony for new electrict ferry
13:27 USCG takes delivery of Cutter Edgar Culbertson
12:43 Virgin Voyages celebrates delivery of Scarlet Lady
11:15 European Commission working visit in the context of Military Mobility

2020 February 14

18:37 OOCL updates Trans-Pacific services
18:07 Canada plans to support ban on heavy fuel oil in Arctic shipping
17:49 Rates of transport security dues approved for Rosmorport’s Azov-Black Sea Basin
17:26 Reconstruction of the historic FG levee completed at the Port of Riga
17:05 Vado Gateway terminal commences operations
16:51 Commissioning ceremony of Offshore Patrol Vessel PNS YARMOOK
16:35 PIL to exit Transpacific market to focus on North-South trade
16:08 Keel of Wasaline’s new ferry was laid at Rauma shipyard
15:44 Rauma Marine Constructions to partner with Aalto University looking to cut emissions and increase safety in seafaring
15:19 Nauticor, Fassmer start LNG cooperation with Atair bunkering
14:21 Global Ports launches Ust-Luga – Moscow rail container service
13:57 Zvezda shipyard starts building yet another Aframax tanker for Rosnefteflot
13:35 Port of Ipswich celebrates tonnage-handling record for largest independent producer of sand and gravel in the UK
13:12 Finnlines invests in highest passenger comfort and orders two eco-friendly Superstar vessels
12:50 Finnlines strengthens its North Sea services as from week 8, 2020
12:26 Supervisory board of KN approves company's corporate strategy until 2030
12:03 Hapag-Lloyd announces rates from Mediterranean to Far East
11:48 Throughput of Klaipėda Port in Jan'20 exceeds that of Latvia’s ports for the first time in the history
11:30 CMA CGM announces FAK rates for reefers from North Europe, Baltic, Scandinavia, Poland & West Med to Asia
11:09 Fincantieri presents “Scarlet Lady” in Genoa Sestri Ponente
10:54 Klaipėda Port’s canal to be deepened to 15 meters
10:30 CMA CGM announces FAK rates for reefers from East Med & Black Sea to Asia
10:27 MABUX: Bunker market this morning, Feb 14
10:09 PCC Intermodal marks 10 years of work in the Port of Hamburg
09:55 Brent Crude futures price is down 0.05% to $56.31, Light Sweet Crude – up 0.06% to $51.45
09:41 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
09:18 Baltic Dry Index is flat at 421 points
09:00 Port of Long Beach сargo volume down 4.6% to 626,829 TEU in January 2020

2020 February 13

18:30 Korean Register launches new apps and online service for customers
18:06 PSA Marine announces acquisition of Tramarsa Flota
17:52 Vice Admiral Kulakov, RF Navy’s large anti-submarine ship, returns to Severomorsk
17:35 Hapag-Lloyd announces rates from Middle East to North Europe and Mediterranean
17:19 Port of Ventspils (Latvia) handled 20.46 million tonnes in January 2020, up 0.8% YoY
17:05 APM Terminals Poti formally restarts port expansion permit process
16:58 MSC confirms long-standing commitment to reducing CO2 emissions
16:55 Scorpio Bulkers announces sale and leaseback agreements for three dry bulk vessels
16:43 MSC announces cooperation agreement with SM Line
16:40 DP World agrees to acquire a majority stake in TIS container terminal in the Port of Yuzhny, Ukraine
16:37 European Union prepares to provide a subsidy for a project to store CO₂ from industry in Antwerp, Ghent, Zeeland and Rotterdam
16:20 Port of Klaipeda (Lithuania) handled 3.4 million tonnes of cargo in January 2020, down 15% Y-o-Y
16:05 Floatel and Prosafe discontinue merger agreement
15:36 Damen to supply five coastal ferries to Zanzibar Government
15:31 IDF provides Vyborg Shipyard with RUB 700 million loan for construction of trawlers and crab catchers
15:17 Port of Rotterdam throughput amounted to 469.4 million tonnes in 2019
15:08 HHLA container throughput up 3.3 percent to 7.6 million TEU
14:37 Port of Helsinki throughput in January 2019 grew by 8.8% to 1.2 million tonnes (table)
14:03 Tolbukhin tugboat joins fleet of Rosmorport’s North-Western Basin Branch
13:42 Cruise Baltic becomes the first paper-free cruise network
13:26 North-Western Basin Branch of Rosmorport expands its fleet with Taifun-1000K airboat