Yang Ming Suspends Share Trading Yang Ming Line Has Been Able to Rely on State Support So Far Through Its Current Struggles
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DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2017 – 114 Number 114 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Sunday 23-04-2017 News reports received from readers and Internet News articles copied from various news sites. Load out operation in Lumut-Malaysia Photo : Capt Jelle de Vries – Sunshine Offshore Services (c) Distribution : daily to 37.000+ active addresses 23-04-2017 Page 1 DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2017 – 114 Your feedback is important to me so please drop me an email if you have any photos or articles that may be of interest to the maritime interested people at sea and ashore PLEASE SEND ALL PHOTOS / ARTICLES TO : [email protected] If you don't like to receive this bulletin anymore : To unsubscribe click here (English version) or visit the subscription page on our website. http://www.maasmondmaritime.com/uitschrijven.aspx?lan=en-US EVENTS, INCIDENTS & OPERATIONS The ARCADIA visited Valetta – Malta Photo : Michael Cassar © Yang Ming suspends share trading Yang Ming Line has been able to rely on state support so far through its current struggles. After its 2016 losses doubled to nearly $500 million, Yang Ming on Thursday suspended trading on the Taiwanese stock exchange until May 4 in an effort to reduce the carrier’s equity capital by more than 50 percent. Two weeks ago Yang Ming Distribution : daily to 37.000+ active addresses 23-04-2017 Page 2 DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2017 – 114 reassured customers in an advisory notice that it hadn’t needed to ask vendors to modify terminal terms, much less default on its obligations to vendors. In the April 3 notice, Yang Ming pointed to how its fourth quarter loss of $64 million was $89 million less than its third quarter loss, giving the carrier “a hopeful indicator of a reversal in the market.” “We are humbled by the continued and generous support of our customers and we ask you to join us to go forward in 2017,” the carrier said. “The delivery of your shipment is guaranteed.” Other carriers, including Maersk Line and Cosco, have reported strong pricing and volume in the fourth quarter, Despite this tailwind, Drewry expects the major carriers lost $3.5 billion in 2016, an improvement on the $5 billion in losses for the year the industry analyst had previously estimated. Shipper concerns over the financial viability of the carriers they use has heightened after Hanjn Shipping collapsed last year. In addition to looking at balance sheets, some shippers are monitoring whether their carriers are delaying payments to suppliers, such as tugboat operators and fuel provider, or paying more for the same services, both of which can foreshadow a carrier collapse. shares. Taiwan’s National Development Fund of the Taiwan is taking a 6.39 percent stake in Yang Ming, giving the Taiwanese government a 36.5 percent stake in the carrier once the first round of recapitalization is complete. Yang Ming said the deployment of additional ships with capacities of 14,000 teus will bring down slots costs and fuel savings. The carrier added that it’s membership in THE Alliance, involving NYK Line, MOL, “K” Line, and Hapag-Lloyd, provides customers with greater service. “With the implementation of our cost savings strategies and recapitalization plan, and with the support from our new investors, Yang Ming is well positioned in 2017 to best served our customers’ needs. Yang Ming firmly believes that our size, strategic plans, and alliance make up our competitive advantages,” the company said in the April 3 notice. Yang Ming was last profitable in 2013, when the carrier posted a profit of $92.2 million. As of last fall, the carrier had the most leveraged balance sheet of all the major carriers, with net gearing totaling 437 percent, according to Drewry Financial Research Services. That’s well above the industry average of 124 percent and nearly five times that of fellow Taiwanese carrier Evergreen Line. Lawmakers in the ruling Democratic Progressive Party have suggested to the Ministry of Transportation and Communications that Yang Ming should be merged with Taiwan International Ports Corp to streamline resources and lower costs. Yang Ming’s financial challenges have reinvigorated speculation it would merge with its compatriot Evergreen; however, Yang Ming Chairman Bronson Hsieh in early November rejected that idea, saying it has no plans to do so and its partial state ownership puts mergers off the table. Source: The Journal of Commerce Antwerp quarterly container volume up 0.7pc to 2.48 million TEU Spliethoff Group’s MUNTGRACHT navigating the Westerschelde inbound for Antwerp , the vessel arrived from Willemstad- Curacao after Antwerp the next port of call will be Aarhus in Denmark Photo : P. , M. & Ph. van Luik www.shipsoffterneuzen.nl © ANTWERP's cargo throughput in the first quarter increased by 1.5 per cent year on year to 54.3 million tons, while container volume rose 0.7 per cent to 2.48 million TEU. CEO Jacques Vermeiren was quoted as saying in an American Shipper report: "Since the first half of last year experienced better performance than the second half, it is important to see the volumes continuing to steadily increase in the container segment. This positive trend confirms the demand for additional container capacity in the Antwerp port area." The roll-on/roll off sector experienced a 5.3 per cent year-on-year increase in the first quarter, finishing out at 1.2 million tons, with the number of cars handled up 2.8 per cent to 316,988 units.Breakbulk volumes for the quarter jumped 8.3 per cent thanks to the influx of steel, which in itself was up 14.7 per cent. Dry bulk grew by 6.7 per cent to 3.2 million tons on the back of higher imports of ore and coal. Source: Schednet Distribution : daily to 37.000+ active addresses 23-04-2017 Page 3 DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2017 – 114 Vietnam studies seaport water management in Netherlands Deputy Prime Minister Trinh Dinh Dung had a working session with authorities from the Port of Rotterdam in the Netherlands on April 19 to study the European country’s experience in planning, building and operating seaports. Deputy Prime Minister Trinh Dinh Dung (C) studies sand engine, an experiment in the management of dynamic coastline in south Holland which is located below sea level He hoped the Netherlands will share its knowledge with Vietnam about seaport building and management and that Rotterdam will soon implement cooperative projects in Vietnam in seaport planning and logistics services and share experience in coastal protection While visiting the port, Deputy PM Dung met with leading Dutch businesses in navigation transport, logistics services, shipbuilding and seaports He mentioned Vietnam’s seaport development plan through 2020 and with a vision to 2030, saying this is an excellent opportunity for Dutch investors Earlier, the Deputy PM studied the sand engine, an experiment in the management of dynamic coastline in south Holland which is located below sea level. Rotterdam is the largest port in Europe, stretching over a distance of about 40 kilometres and consisting of five distinct port areas It is one of the main gateways for Vietnamese goods to enter Europe. More than 50 percent of Vietnamese goods exported to Europe enter via Rotterdam port On April 20, Deputy PM Dung visited the Deltares Research Institute – a leading science application institute in the Netherlands in geology, environment, and delta The guest heard about measures for water resources management and climate change adaptation conducted by Deltares scientists in Vietnam. He hailed the institute’s projects carried out in Vietnam, especially in the early warning of natural disasters, coastal erosion and saltwater intrusion prevention. The same day, he visited the Netherlands Airport Consultants, an airport consultancy and engineering firm. He hoped the Vietnamese and Dutch aviation sector will expand collaboration. On April 21, the Deputy PM and his entourage wrapped up their working visit to the Netherlands from April 18-20 and began their trip to Ireland. Source: Vietnamnet bridge Cosco Shipping Specialised Carriers profit up 1,104pc to US$1.61 million CHINA's Cosco Shipping Specialised Carriers posted a 1,104 per cent year-on-year first quarter net profit increase to CNY11.06 million (US$1.61 million), drawn on revenues of CNY1.6 billion, up 17.8 per cent. The Shanghai-listed company attributed the surge to strong returns from equity investments and an improved shipping operating environment, to the statement accompanying the results. Cosco Shipping Specialised Carriers, subsidiary of China Cosco Shipping Corporation Limited (Cosco Shipping), operates a fleet of more than 150 ships including heavy lifts, semi-submersibles, ro-ro and ice-class vessels. The company shipped 3.03 million tonnes of cargo in the first quarter, an increase of 6.1 per cent. Its multi-purpose vessels shipped 1.06 million tonnes, up 40.6 per cent year on year, with heavy lift vessels accounting for 610,000 tonnes, up 50.7 per cent and car carriers shipping 90,000 tonnes, up 87.5 per cent and semi-submersibles shipping 73,000 tonnes, up 116.8 per cent. The revenue of these four sectors contributed 82.6 per cent of 2016 annual revenue. Source: Schednet Distribution : daily to 37.000+ active addresses 23-04-2017 Page 4 DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2017 – 114 The outerharbour of Maassluis as seen by Rotterdam Pilot Marijn van Hoorn from the FPSO WESTERN ISLE enroute from the Caland Canal to Rotterdam Botlek photo : Marijn van Hoorn (c) AIDAsol moored at the IJmuiden (NL) Felison Cruise Terminal. Mark the characteristic IJmuiden beach cabins in the foreground and the PRINCESS SEAWAYS the cruiseferry connecting Newcastle and IJmuiden in the background on the right side.