• 2019 October 27 15:35

    Gulf Navigation Holding records 19% revenue growth in Jan-Sept 2019

    Gulf Navigation Holding PJSC (“GNH” or “Company”), the Dubai Financial Market listed maritime and shipping company, has announced a 19% operating revenue growth by end of Q3 of 2019, compared to the same period last year. The company recorded an operating revenue of AED 130 million compared to AED109 million in the same period of 2018. The company reported a net loss of AED 18 million in Q3 of 2019, bringing total losses in the first 9 months of 2019 to AED 46 million. The decline in the company’s financial performance is due to the high operating costs of vessels coupled with lower asset utilization in the quarter.

    Gulf Navigation has adapted well to the economic challenges in the first 9 months of 2019. The Company has successfully completed the 10-year special survey and ballast water treatment installation program on its 4 vessels that are chartered to SABIC. After a period of underutilization, the Company has now managed to secure spot and long-term charters for all 9 vessels. On cost structure front, the Company has restructured its operations and reorganized its subsidiaries to ensure continuity of its operations and enhanced its productivity at the lowest possible costs for the near future. The Company is also looking to outsource its ship management function to optimize its cost structure and enhance governance.

    Mr. Saeed Mubarak Al Hajeri, Chairman of Gulf Navigation Board emphasized, “Today, we continue to work on opportunities to drive positive changes through operational and administrative reorganization. Gulf Navigation is now a more nimble and dynamic company than ever before. We continue to resolve legacy issues and I am confident of achieving operational and financial excellence in the near future. We look forward to wrap up a challenging year on a positive note and prepare ourselves for a positive 2020.”


2020 July 5

15:02 FURUNO acquire EMRI A/S, Danish based provider of advanced ships Maneuvering and Steering Systems
14:51 HamiltonJet partners with RIBCRAFT to power 48 US Navy RHIBs
13:42 Ingalls Shipbuilding awarded $936 million contract to build navy destroyer
12:18 Huisman to deliver offshore mast crane for wind turbine installation in Taiwan
10:44 USCG assists disabled vessels near Freeport, Texas

2020 July 4

15:01 APL announces storage arrangements for China reefer imports
14:39 MAN to supply compression technology for offshore gas production
13:28 Naval Group selected iXblue to supply navigation systems for Gowind-class vessels
12:33 USCG halts illegal charter, rescues 2 on disabled jet ski near Venetian Causeway Bridge
11:04 DNV GL: Ports can be the front runners of the energy transition, if port authorities and industry sectors join forces

2020 July 3

18:37 DistriRail adds its rail schedules to the Port of Rotterdam Authority’s Navigate tool
18:07 ClassNK releases amendments to class rules
17:44 Possibilities of digital transformation of military shipbuilding to be discussed at "ARMY-2020" forum
17:05 ECSA welcomes study on social aspects within the maritime transport sector
16:50 Rosmorrechflot warns about Russia’s risk to move from White to Grey list of Paris MoU
16:24 11 major international companies join forces to accelerate the energy transition in transport and logistics
15:48 Hydrographic Company and MRTS sign contract on construction of Utrenny terminal facilities
15:10 CMA CGM announces rates from Asia to Red Sea
14:43 ABP publishes its Annual Review 2020
14:10 Port of Savannah’s Ocean Terminal takes delivery of two mobile harbor cranes
13:12 Alfa Laval wins SEK 130 million offshore order in China
12:26 Throughput of port Azov in 6M’2020 fell by 15% YoY
12:01 ICS launches Guidance for Engine Room Safety
11:47 North-Western Shipping Company merges into Volga-Fleet
11:15 CMA CGM announces FAK rates from Asia to North Europe
10:59 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
10:13 Ocean Yield takes delivery of newcastlemax dry bulk newbuilding
10:12 GTT and Zvezda Shipbuilding Complex sign a Technical Assistance and License Agreement for the construction of LNG carriers incorporating membrane tank systems
09:52 Bunker prices changed slightly at the Port of Saint-Petersburg, Russia (graph)
09:34 Baltic Dry Index as of July 2
09:20 MABUX: Bunker market this morning, July 03
09:16 Oil prices start decreasing
09:09 Baleària presents a proposal for the construction and operation of the new passenger terminal in the Port of Valencia

2020 July 2

18:37 CMA CGM announces FAK rates from Asia to the Mediterranean
18:04 ClassNK releases Annual Report on Port State Control
18:04 CMA CGM updates PSS for Reefer Cargo from North Europe, Scandinavia, Poland & Baltic, West Med & Adriatic to the Indian Subcontinent, Middle East Gulf & Red Sea
17:52 Glavgosexpertiza approves expansion of access canal to Sabetta port
17:35 Royal Niestern Sander delivers the hydrographic survey vessel ‘Geo Ranger’ to Geo Plus B.V.
17:21 Oil shipments via CPC Marine Terminal in 6M’20 climbed by 2.2% YoY
17:04 Kongsberg Digital acquires Danish maritime software company COACH Solutions
16:55 Federal government waives the traffic dues for the Kiel Canal until 31.12.2020
16:45 Fincantieri subsidiary INSIS acquired a majority share in Support Logistic Services
16:23 Webinar “Pusher-tugs as a pivot of river transportation chain. Will we have them built?” slated for 8 July 2020
16:04 IPCSA launches the Network of Trusted Networks
15:42 Shipbuilding facility of Neptun CDB in Novaya Ladoga lays down two cruise ships of Project PV20S
15:20 New transshipment terminal soon to become operational at the Port of Gothenburg
15:04 250,000 m2 of rooftop solar panels to be installed in the port of Amsterdam by 2024
14:23 MABUX releases weekly review of global bunker market
14:03 Nippon Paint Marine completes the extensive re-coating of the 1911-built cargo ship
13:29 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 5% in 6M’20
13:05 Premiere for Rolls-Royce's first MTU gas engines in new Doeksen ferry
12:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
12:22 Rosmorport announced tender for construction of LNG transshipment facility in Kamchatka
12:00 APM Terminals introduces APIs to transform the next generation of terminal data
11:21 Russian Railways' network loading fell by 4.5% in 6M’ 2020
11:03 ECSA calls on the German Presidency to support a stronger European shipping industry
10:47 Bunker sales at Vladivostok port in 6M’2020 fell by 23% YoY
10:29 Damen Maaskant Shipyards Stellendam delivers trawler Jonge Johannes
10:24 Tallink Grupp makes strategic future investment and purchases ro-pax vessel Sailor
10:02 Oil prices continue rising