• 2019 April 3 15:37

    EUROGATE net profit up to EUR 67.3 million in financial year 2018

    At today’s Annual Press Conference, the EUROGATE Group presented its business figures for the financial year 2018. The Group generated a net profit for the year of EUR 67.3 million (2017: EUR 85.2 million), the company said in its release. The 20.9 per cent decline in earnings compared with the previous year’s level is principally due to non-recurring effects, which had significantly contributed to the operating result in 2017. At EUR 604.0 million, revenue was only slightly below the previous year (2017: EUR 607.9 million / -0.6 per cent).

    In summary, the year was characterised by the impacts of the wave of consolidation that have taken place within the shipping line industry in recent years. A development which has also brought positive impact on EUROGATE. In the second half-year, for example, EUROGATE Container Terminal Hamburg reported a considerable increase in volumes, thus reversing the negative trend of the previous two years. EUROGATE Container Terminal Wilhelmshaven benefits from the increasing deployment of mega container ships with transport capacities of up to 23,000 TEUs and for the third year in sequence reported double-digit volume growth. However, the steadily increasing cost pressure from the shipping lines and the ongoing trend towards ever larger container vessels continue to present big challenges for the ports and their operators.

    At a good 5.47 million TEUs, the Bremerhaven container terminals recorded a throughput almost on a par with 2017 (–1.3 per cent, 2017: 5.54 million TEUs). In connection with the annual implementation of new schedules by the shipping line alliances in April/May 2018 there had been no significant impact on this location. The future prospects are somewhat clouded by the withdrawal of four Transatlantic services operated by THE Alliance in favour of Hamburg-Altenwerder with effect from the beginning of 2019; however, developments at NTB North Sea Terminal Bremerhaven and at MSC Gate are promising and will hopefully allow us to largely compensate for the mentioned volume losses in the medium term.

    At EUROGATE Container Terminal Hamburg by contrast, handling volumes decreased slightly by 3 per cent overall to just below 1.64 million TEUs (2017: 1.69 million TEUs); however, the integration of Hamburg Süd into the Maersk Group and the successful acquisition of new customer Hyundai Merchant Marine halted the negative trend of the past two years brought about by the restructuring of the alliances. Thus, following a weak first six months with a decline of around 16 per cent, capacity utilisation at the terminal recovered significantly in the second half-year. Furthermore, since January 2019 the EUROGATE terminal has been included on the itinerary of a major Asia service operated by OCEAN Alliance, significantly improving capacity utilisation.

    With an increase of 18.3 per cent in 2018, EUROGATE Container Terminal Wilhelmshaven recorded double-digit growth for the third consecutive year. In 2018, in excess of 655,000 TEUs were transhipped here for the first time. The regular port call by a Maersk West Africa service, the new role as last port of call on a Far East route operated by 2M Alliance and the full-year effect of an OCEAN Alliance Far East service acquired during the course of 2017 were key factors in the renewed increase in the total handling volume. Due to its nautical conditions and efficiency, the shipping line alliances are showing increased interest in EUROGATE Container Terminal Wilhelmshaven, particularly for deployment of their ultra large container vessels (>18,000 TEUs). Opportunities for further growth in the double-digit percentage range remain positive.

    The quality of the seaport hinterland connections to the big European economic centres has a decisive influence on the competitiveness of the port locations. With EUROGATE Intermodal, the EUROGATE Group provides its own transport links to inland Europe. The EUROGATE subsidiary was able to keep the volumes of freight transported by truck and rail at the previous year’s level with 654,560 TEUs (2017: 657,969 TEUs / –0.5 per cent). A new direct link operating between the Port of Hamburg and the rail terminal in Singen (Baden-Württemberg) since January 2019 expands EUROGATE Intermodal’s network.

    Including international container transports, EUROGATE increased volumes handled by the intermodal network by 2.8 per cent to 1.05 million TEUs.

    Significant declines at the transhipment terminals in Italy impacted negatively on handling volumes. Cagliari in particular has been very hard hit by the transfer of scheduled services to other terminals and lost almost 50 per cent of its handling volumes. Gioia Tauro recorded a decline of 4.5 per cent, but remains at a high level (2.29 million TEUs).

    Against this trend, the terminals in La Spezia (1.35 million TEUs / +0.8 per cent) and Salerno (332,000 TEUs / +5.6 per cent) developed positively.

    CONTSHIP Italia Group’s intermodal business segment also developed positively. Volumes transported by rail in 2018 increased by 3.3 per cent to 311,049 TEUs (2017: 301,009 TEUs).

    The other terminals in the EUROGATE Group also reported stable handling volumes year-on-year overall. The strike-related decline in volumes in Lisbon, Portugal, of around 30 per cent to 137,000 TEUs was offset by the positive development of the location in Limassol, Cyprus, with around 14 per cent growth to almost 394,000 TEUs. The delivery and commissioning of two new container gantries in the first quarter of 2019 have created the prerequisites for further growth of the Limassol terminal.

    The transhipment volume in Ust-Luga, Russia, was 69,000 TEUs (2017: 74,000 TEUs / –7.1 per cent) due to sanctions.

    In Tangier, Morocco, the handling volume remained at the same high level as the previous year with 1.38 million TEUs (2017: 1.38 million TEUs / –0.5 per cent). The excellent geographical location of the port directly on the Strait of Gibraltar, and thus serving the major East–West container shipping trade lanes, has prompted EUROGATE to continue investing in the location by participating in a joint venture for the construction and operation of Container Terminal 3 (TC3). TC3 is located in the enlargement area of TangerMed, to the west of EUROGATE Tanger’s present location. EUROGATE’s partners in the project are the Moroccan port operator Marsa Maroc and CONTSHIP Italia. This latest terminal in the EUROGATE network is scheduled to go into operation in mid-2020.

2019 August 18

13:02 BAE Systems cuts steel for UK Royal Navy's HMS Cardiff
12:46 Kongsberg Digital simulation and software selected to fast-track R&D at new autonomous ship centre in Korea
11:05 NYK sponsors endangered Sea Turtle Research
10:56 Coast Guard cites passenger vessel for operating illegally, terminates voyage

2019 August 17

14:24 Kinder Morgan announces additional projects to enhance capabilities at Houston Ship Channel Facilities
13:31 Damen Shipyards Cape Town joins Women’s International Shipping & Trading Association
12:28 CMA CGM announces rate restoration for Asia to West Africa trade
11:32 APL informs on voil sailing on Asia-Indian Subcontinent Service in August
10:58 Pre-commissioned USCG's Cutter Midgett makes second cocaine seizure within five days

2019 August 16

18:16 Port of Vyborg volumes in Jan-Jul plummet 29% to 687,700 tons
18:06 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
17:36 Norwegian Encore leaves MEYER WERFT's building dock
17:06 Balltec secures North Sea decommissioning contract from Heerema Marine Contractors Nederland
16:35 Canada Infrastructure Bank signs MoU with the Port of Montreal on Contrecoeur port expansion project
16:05 Vår Energi AS awarded an EPCI contract to Rosenberg Worley AS
16:03 Low-sulphur marine fuel sales by Gazprom Neft in the first half of the year increased by 11% to 121,400 tonnes
15:48 Samsung Heavy to advance smart ship technology in cooperation with equipment producers
15:36 Throughout of oil port Primorsk in Jan-Jul 2019 increased 14% to 35.74 million tonnes
15:14 New mid-year record for container volumes through the Port of Vancouver
15:11 USCG repatriates 25 migrants to the Dominican Republic
14:27 Port of Vysotsk throughput in January-July rose 7% to 11.14 million tonnes
14:10 Austal signs A$126 mln contract to export two Cape Class Patrol Boats
13:14 Seven-month cargo volumes of Port of Ust-Luga increase 10% to 62 million tonnes (update)
13:05 NORDEN signs multiple long-term global contracts
12:05 APM Terminals Poti to implement uninterrupted 24/7 operations
11:39 Port of St. Petersburg seven-month volumes rise 2% to 35 million tonnes (update)
11:05 Steel cutting ceremony for the next AIDA LNG cruise ship at MEYER WERFT
10:48 Tekmar Energy selected for Formosa 1 Phase 2
10:44 Port of Hamburg seaborne cargo throughput up 4.1 percent to 69.4 million tons in H1 2019
09:55 Crude futures prices tend upward again: Brent Crude rises to $ 58,88, WTI – to $ 55,16
09:34 Baltic Dry Index leaps 97pts to 2047 points
09:27 Bunker prices show mixed movements at Port of St. Petersburg
08:41 MABUX: Bunker market this morning, Aug 16

2019 August 15

18:48 Seven-month box throughput of Ukraine’s seaports leaps 20% to 545.800 TEUs
18:05 Huntington Ingalls Industries announces leadership changes at shipyards
17:05 Scandlines installs Norsepower’s Rotor Sail solution on board hybrid ferry
16:43 Kinder Morgan announces additional projects to enhance capabilities at Houston Ship Channel facilities
16:35 Kalmar service expertise to enhance safety, performance and productivity at OPCSA’s Las Palmas terminal
16:33 Global Dredging Forum in London to address all current aspects of capital and maintenance dredging as expansion opportunity
16:05 Wilhelmsen Ship Management awarded two supramaxes from Stove Shipping AS
15:47 Neste introduces a new IMO2020-compliant low-sulphur marine fuel
15:43 Stena Bulk's CEO appeals directly to the Leaders of India, Russia, Latvia & the Philippines
14:33 Rotterdam Polymer Hub construction starts
14:20 A.P. Moller - Maersk reports strong improvements in earnings in Q2
14:01 Tuapse Sea Commercial Port JSC 1H net profit drops 3.3 times to RUB 1bn
13:52 Port of Oslo speaker to join Int'l Baltic Transport Forum, Sept. 11
13:05 RS supports PortNews сonference on icebreaking and service fleet, to be held prior to NEVA-2019 trade fair
13:02 CMA CGM announces FAK rates from Asia to North Africa
12:06 LUGAPORT terminal construction kicks off at Port of Ust-Luga
12:03 MOL transports fire engines to Paraguay
11:03 Jan De Nul bags 600MW Kriegers Flak contract
10:17 CMA CGM announces FAK rates from Asia to the Mediterranean
10:01 Crude futures prices continue to decline: Brent Crude – to $ 59,09, WTI – to $ 54,92
09:57 Latest frigate Admiral Kasatonov enters shipbuilder’s trials final phase
09:12 Baltic Dry Index leaps by 4.61% to hit 1950-pts mark
08:42 MABUX: Bunker market this morning, Aug 15

2019 August 14

23:00 Sergey Mazokhin takes helm at Nordic Engineering JSC
18:09 Icebreaker Novorossiysk escorts Silver Explorer along the Northern Sea Route
18:05 OOCL revises Trans-Pacific service
17:23 Moscord to add Schneider Electric Marine Product Line