• 2021 July 7 12:03

    Expert RA rating agency confirms level ruAAA rating for FSUE "Rosmorport"

    Expert RA rating agency confirmed level ruAAA credit rating for non-financial company FSUE "Rosmorport". The outlook for rating is stable, Rosmorport says in a press release.

    FSUE "Rosmorport" is a strategic systemic company established in order to carry out the effective development and operation of federal property in Russian seaports and on approaches to them. The company's development strategy envisages the implementation of investment projects aimed at increase of transit cargo flow through domestic seaports, including by increase of port capacity. The company is managed by the Federal Agency for Maritime and River Transport (Rosmorrechflot), which coordinates its activities from the coordination of a development strategy to the approval of an annual program of activities. According to the methodology, the company's rating still takes into account the strong state support factor.

    The agency assesses positively the resistance of the industry to external shocks. The decrease in cargo turnover in the face of the adoption of restrictive measures taken at the national and international levels in order to prevent the spread of an unfavorable epidemiological situation led to a decrease in collected harbor dues by 11% compared to the same period last year (19.9 billion rubles in 2020 and 22.3 billion rubles in 2019). At the same time, the development of commercial services for the icebreaking, towing and dredging fleet allowed the company to compensate for most of the lost income: the decrease in revenue in 2020 amounted to about 2% year-over-year. Despite the continued decrease in the number of ship entries in 2021 within 3% year-over-year, the agency assesses positively the outlook of the company's income dynamics this year.

    The unique role of FSUE "Rosmorport" in the transport industry of Russia determines the agency's high assessment of the company's market positions. Besides, the business profile of the company is supported by the lack of dependence on key customers and counterparties due to the specifics of the activity, as well as diversification of line of services. The rating is also supported by the absence of material currency risk in the company's activities. Tariff risk has a deterrent effect on the valuation of the company's market and competitive positions. Harbor dues, the volume of which is about 70% of the company's revenue, are set by the Federal Antimonopoly Service of the Russian Federation. The agency notes that in recent years harbor dues have not been indexed, which negatively affects the profitability of the main areas of activity and does not allow the company to finance the investment program without attracting borrowed funds.

2021 September 19

15:23 Austal names Rusty Murdaugh as Austal USA President
14:17 Parkwind selects Port of Mukran to become the O&M base for Arcadis Ost 1 wind farm
13:04 Babcock sells first new frigate design licence to Indonesia
11:37 USC repatriates 22 migrants to Cuba
10:56 South Louisiana ports advocate for federal aid post Hurricane Ida

2021 September 18

15:07 Energy-saving investments clear the way for shore-based power
13:49 GROUPE IDEC is developing the first XXL energy - positive activity park in Europe
12:41 IMOCA extends relationship naming Iridium and Thales as official communications partners
11:37 Tanguy de Lamotte will spearhead electric boat revolution in the US
10:49 Industry alarmed as spat between governments threatens investment in Scottish ports – BPA

2021 September 17

17:49 New radar post to increase navigation safety in the seaport of Kaliningrad
17:26 Svanehøj acquires Wärtsilä Tank Control Systems
17:06 Navigator Gas awarded DNV AiP for new ammonia fuelled gas carrier design
16:47 Zelenodolsk Plant named after M. Gorky launches small-size missile ship Grad
16:31 PIL launches new South China to India West Coast Service - South China India Express
16:05 De Beers’ latest diamond recovery vessel departs Damen Shipyards Mangalia for Southern Africa
15:46 Port of Melbourne CEO announces retirement
15:25 Transneft Baltic holds large-scale firefighting and tactical drills at Ust-Luga Oil Depot
14:18 Grain traders to address RF Ministry of Agriculture and ask it revise grain export duty calculation system
13:27 Rostov Grain Terminal handled 80,000 tonnes of grain in August 2021
12:10 APM Terminals Poti marks two years without injury and celebrates its safety culture
11:56 Vitol’s V-Bunkers to bring electric-hybrid bunker tankers to Singapore harbour
11:05 ABS and DSME to develop very large liquefied CO2 carrier
10:55 DP World to invest £300m in new fourth berth at London Gateway logistics hub
10:34 Severnaya Verf shipyard launches third processing trawler of Project 170701, Kapitan Ostashkov (video)
09:58 The Port of Calais officially inaugurated
09:26 Crude oil market sees downward price correction
09:23 MABUX: No firm trend is registered on global bunker market on Sep 17
09:09 Baltic Dry Index as of September 16

2021 September 16

18:35 Boskalis completes EUR 100 million share buyback program
17:30 Construction of port Lavna kicked off in Murmansk Region
17:21 APM Terminals opens first “Fast Corridor” between Vado Ligure reefer terminal and inland customers in Italy
17:05 Wärtsilä cloud simulation now available on-demand via OTG’s Ocean Learning Platform
16:41 Evergreen’s Ever Ace with WinGD’s large bore X92 bore size engines crossed the Suez Canal
16:14 The new Port of Calais officially inaugurated after six years of construction
15:45 Southampton’s newest cruise terminal officially opened
15:35 Organizers of International Conference “Development of Icebreaking and Support Fleet“ offer the event programme
15:14 Dublin Port publishes Port Infrastructure Charges Pricing Strategy 2022 to 2026
14:53 Port of Oakland beef export volume up 25 percent in Jan - July 2021
14:37 UK ports welcome public support for clean maritime projects
14:26 IVECO and Nikola sign MoU with Hamburg Port Authority for zero-emission Class 8 battery-electric trucks
13:40 SMM Maritime Industry Report (MIR) shows industry on track for sustainability
13:16 MABUX: Bunker Weekly Outlook, Week 37, 2021
13:02 Port of Los Angeles cargo volume exceeds 954,000 TEU in August 2021
12:11 Sharrow Marine announces plans to roll out an exclusive OEM Sharrow Propeller™ Boatbuilder Program
11:47 TransContainer arranged transit transportation from Korea to Turkey via Far East and Novorossiysk ports
11:24 DOF Group announces new contracts in Brazil
11:02 Cargo-passenger ferry Pavel Leonov arrived at Korsakov, the ship’s homeport
10:38 Capacity of Vostochny Port’s multipurpose complex to be raised to 117,000 TEUs per year
10:21 Norwegian Ministry of Petroleum and Energy sees great interest in the Norwegian continental shelf
10:13 DFDS acquires ICT Logistics
09:49 Crude oil prices continue rising driven by data on reduction of reserves
09:30 Maersk acquires a Portuguese cloud-based logistics start-up HUUB
09:16 Baltic Dry Index as of September 15
09:15 MABUX: Global bunker prices may rise sharply on Sep 16
08:28 Castor Maritime announces new charter agreements

2021 September 15

18:43 Royal Phuket Marina’s inner-channel dredging project to deliver round-the-clock access for boats up to 35 metres
18:37 NJEDA and PSEG sign 78-year lease for the New Jersey Wind Port
18:17 PGS sets multiple acquisition records
17:55 Nefteflot lays down two ships of Project RDB 66.62