• 2011 September 19 06:01

    Mercator Lines Q1 consolidated income up by 33 pct

    Mercator Lines Ltd has registered a 33% rise in its consolidated income to INR 799.27 crore for the first quarter ended June 30th 2011 as compared to INR 602.89 crore in the previous fiscalSteel Guru reports.
    The company’s consolidated net profit stood at INR 14.73 crore from INR 61.70 crore in the previous fiscal.
    According to a statement issued, while the coal division and dry bulk division contributed 60 and 22% respectively, to the company's revenue, the tanker, dredger and offshore divisions chipped in with 10, and 4% each respectively.
    In the coal division, MLL is in the process of concluding the acquisition of one more mining concession in East Kalimantan, Indonesia, through its subsidiary. Production from the mine, which has an estimated 45 million tonnes of coal reserves, is expected to commence from the fourth quarter. The company is also looking forward to further expand its activities in the coal business.
    As regards the offshore division, MLL has successfully commissioned, in Nigeria, its Floating Production Unit which it has chartered on a nine year contract from London Stock Exchange listed oil major, Afren Plc, generating revenues at the rate of USD 111,000 per day. The FPU, which commenced commercial production from April 30 this year, marks a significant achievement and milestone in the history of MLL, which is scouting for further opportunities in FPSO and FPU in the offshore services arena.
    Besides, MLL has been awarded the right to explore, develop and produce oil and gas from two onshore blocks in the Cambay basin in Gujarat under NELP VII and is currently carrying out seismic studies.

2024 July 16

18:02 China extends visa-free transit policy to 37 ports
17:25 Works on schedule for the Ravenna regasifier, with the plant operational in the first quarter of 2025
17:05 STX Heavy Industries changes name to “HD Hyundai Marine Engine”
16:45 OOCL's revenue rises 14pc to US$2.2bln
16:20 Saltchuk acquires all of the outstanding shares of Overseas Shipholding Group
15:57 EU sets four conditions for the port of Piraeus inverstments
15:41 Serbia to open tender for Prahovo port overhaul in 2024
15:37 EIB lends €90 million for sustainable expansion of the Port of Livorno
15:34 Crew of capsized oil tanker off Oman still missing
15:14 Lomarlabs signs with Cargokite to develop a new ship class of micro ships
14:47 Greece extends naval drills that deter Russian oil transfers - Bloomberg
14:08 The Official Journal of the European Union publishes the first-ever EU regulation to reduce methane emissions
13:24 High cat fines found in the Amsterdam-Rotterdam-Antwerp region bunker fuel samples, alerts CTI-Maritec
12:58 Yangzijiang Shipbuilding works to acquire over 866,671 sqm of land for new clean energy ship manufacturing base
12:42 GTT entrusted by Samsung Heavy Industries with the tank design of a new FLNG
10:47 Maersk signs an MoU for ship recycling in Bahrain

2024 July 15

18:06 European Shipowners and Maritime Transport Unions launch initiative to support shipping and seafarers in the digital transition
17:35 APM Terminals Mumbai switches to 80% renewable electricity
17:05 Seaspan Shipyards welcomes the formation of the “ICE Pact”
16:41 World’s first entirely hydrogen-powered ferry welcomes passengers in San Francisco Bay
16:26 FMC issues request for additional information regarding Gemini Agreement
16:24 Saipem awarded two offshore projects in Saudi Arabia worth approximately 500 million USD
16:12 Pecém Complex selects Stolthaven Terminals and GES Consortium as H2V Hub green ammonia operator
15:43 Singapore's bunker sales rise 8.5% in the first half of 2024
15:27 TORM purchases eight and sells one second-hand MR vessel
14:55 Adani plans to build port in Vietnam
13:35 Regulator gives conditional nod to HD Korea Shipping's purchase of stake in STX Heavy
13:02 HD Korea Shipbuilding wins US$2.67 billion order to build 12 container carriers
12:51 Maersk introduces SH3 ocean service between China and Bangladesh
12:24 ABS to сlass two new Seatrium FPSOs for Petrobras
11:42 CSP Abu Dhabi Terminal surpasses throughput of 5 mln TEUs
11:11 Fincantieri launches the seventh PPA “Domenico Millelire” in Riva Trigoso
10:51 India's first transshipment port receives its first container ship
10:35 The “Egypt Green Hydrogen” project in SCZONE wins a contract worth € 397 million to export green fuel to Europe

2024 July 14

15:17 FMC issues request for additional information regarding Gemini agreement
13:06 Lummus and MOL Group begin engineering execution on advanced waste plastic recycling plant in Hungary
10:51 Chinese line launches new Arctic container service to Arkhangelsk
09:49 Malta PM tours Abela toured MSC World Europa officially inagurates Valletta shore power

2024 July 13

15:47 €11 million for 1-MW Dynamic Electrolyser Unit
14:11 PSA Group and Singapore mitigate impact of global supply chain disruptions
12:23 NREL: Offshore wind turbines offer path for clean hydrogen production
10:06 MMMCZCS releases a technical, environmental, and techno-economic analysis of the impacts of vessels preparation and conversion

2024 July 12

18:00 Qingdao Port International to buy oil terminal assets for $1.30 billion
17:36 Saipem signs framework agreement with bp for offshore activities in Azerbaijan
17:06 AG&P LNG and BK LNG Solution signs an agreement to bring BKLS's first LNG spot cargo into China
16:31 Allseas removes final Brent platform with historic lift
15:58 ZPMC Qidong Marine Engineering launches the world’s largest FPSO bow section for Petrobras
15:25 MSC acquires Gram Car Carriers
14:58 ABP boosts marine capability through pilot launch upgrades
14:34 Fincantieri receives ISO 31030 attestation from RINA
13:52 Second new dual-fuel fast Ro-Pax ferry to enter service for Balearia after successful sea trials
13:24 ADNOC deploys AIQ’s world-first RoboWell AI solution in offshore operations
12:59 ABS issues AIP for new gangway design from Pengrui and COSCO
11:38 Port of Long Beach data project receives $7.875 mln to speed goods delivery
11:15 ZeroNorth to provide its eBDN solution on 12 barges operated by Vitol Bunkers in Singapore
10:46 Seatrium secures customer contract agreement from Teekay Shipping for the repairs and upgrades of a fleet of vessels
10:14 Liquid Wind and Uniper enter into strategic partnership to accelerate the development of eFuels

2024 July 11

18:06 Yanmar and Amogy to explore ammonia-to-hydrogen integration for decarbonized marine power
17:36 COSCO Shipping receives first 7500 CEU LNG dual-fuel PCTC
17:06 Monjasa adds two tankers and targeting West Africa’s offshore industry
16:34 Biden administration announces funding for 15 small shipyards in 12 states
16:10 Iran's Ports and Maritime Organization attracts nearly $1.7bln of investment in ports, maritime sector
15:52 The added value of Chinese port cities up to US$869.05 bln in 2023
15:25 HD Hyundai becomes first Korean shipbuilder to sign MSRA with US Navy
13:41 NovaAlgoma orders the world’s largest cement carrier
13:21 Steerprop selected to provide comprehensive propulsion systems for world's largest cable-laying vessel
12:41 Integrated Wartsila propulsion package supports decarbonisation and efficiency goals for James Fisher tankers
12:36 MABUX: Bunker Outlook, Week 28, 2024
12:10 Valencia Port Authority signs an agreement with C.N.E. Hydrogen and Fuel Cells to promote hydrogen research
11:41 Long Beach, Los Angeles ports partner for zero-emissions future