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Guangzhou Shipyard profit dips in H1
PostTime:2011-08-25 08:17:45 View:493
{非本站图片} Guangzhou: Guangzhou Shipyard has blamed rising labour costs, stronger Chinese currency and vessels price decline for its lower net profit in the first-half of this year. The Chinese yard posted net profit of RMB263.4m ($41.2m) in the first six months compared to a profit of RMB341.3m in the same period of 2010. Revenue improved to RMB4bn compared to RMB2.8bn a year ago. An impairment loss of RMB179.5m also contributed to the lower net profit, Guangzhou Shipyard said in a statement.
FedEx adds capacity, 10 weekly flights from Incheon to Europe via Guangzhou
PostTime:2011-08-24 08:24:25 View:793
FEDEX has added a A300-600 on the existing route from Incheon to Europe via a stopover at FedEx Asia-Pacific hub in Guangzhou with 10 flights a week to meet increasing demand in Asia-Pacific and Europe. "Despite the challenging economic environment in Europe, Asia remains a strong trading partner with the EU," said FedEx Express president David Cunningham. Trade between Korea and the EU showed 26 per cent year-on-year growth in the first four months in 2011. "With this latest service enhancement, FedEx is equipping its customers with enhanced capacity and flexibility," Mr Cunningham said. Trade value and volume between Korea and the European Union are expected to increase US$4.65 billion in value, while volume should rise up to 20 per cent, said a research report Korea Institute for International Economic Policy (KIEP). The maximum load capacity of an A300-600 aircraft is 50 tons (110,000 pounds), about 13 tons (30,000 pounds) more than the A310-300 currently used on the route, which will allow for more goods to be transported. The new aircraft deployment was launched in Guangzhou and a number of locations in Europe, Middle East and Africa. In addition, FedEx plans to deploy the new freighters in the FedEx AsiaOne route network, which connects major cities in Asia within 24 hours.
Guangzhou H1 container throughput up 10.3%
PostTime:2011-08-01 09:03:30 View:797
The volume of containers handled at terminals operated by the Guangzhou Port Group increased by 10.3 percent year-over-year in the first half of 2011 to 5.2 million TEUs, reported RIA Oreanda-News. Nansha Port on the Pearl River Delta, which is part of the Guangzhou port zone, handled 3.9 million TEUs, an increase of 12.7 percent from the year-earlier period, the state-owned port group said. During the first half of 2011, the volume of export containers moving through Nansha Port increased 41.3 percent, with exports to the US up 18.5 percent; to Europe up nine percent; the Middle East up 166 percent; Intra-Asia up 18.7 percent; Africa up 232.5 percent; and to Oceania up 35.8 percent.
Guangzhou first half container volume up 10.2pc to 5.2 million TEU
PostTime:2011-07-29 08:52:33 View:553
GUANGZHOU Port Group announced on a monthly meeting that it achieved a container throughput of 5.2 million TEU from January to June, an increase of 10.2 per cent compared to the same period in the preceding year, accounting for 49 per cent of the group's annual target. The group's cargo tonnage grew 8.7 per cent to 140 million tonnes, slightly more than its half-year schedule with a 50.1 per cent proportion in the annual target. In June, the group recorded a box volume of 939,000 TEU, up 21.1 per cent year on year. Monthly cargo tonnage went 21.4 per cent up to 25.8 million tonnes. Nansha Port, though closer to Shenzhen, on the lower Pearl River Delta, is part of the Guangzhou port zone. It handled 3.9 million TEU, an increase of 12.7 per cent from the year-earlier period, the said state-owned port group. During the first half of 2011, the volume of export containers moving through Nansha increased 41.3 per cent, with exports to the US up 18.5 per cent; to Europe, up nine per cent; the Middle East, up 166 per cent; intra-Asia, up 18.7 per cent; Africa, up 232.5 per cent and to Oceania, up 35.8 per cent.
Guangzhou and Yingkou sign inter-port cooperation agreement
PostTime:2011-07-22 10:10:12 View:2084
OPERATORS of south China's Guangzhou port and northeast China's Yingkou port has signed agreement on working together on promoting shipping services, Xinhua reports. According to the agreement, Guangzhou Port Group and Yingkou Port Group will make the most out of their favourable conditions in south and northeast region. The two ports see great potential in the cooperation in the shipping of steel, grain, automobile, oil and coal. They are also highly complementary in their market and cargo sources. This report said the soon-to-be-completed Nansha Grain Terminal will further boost the cooperation between the two ports.
Port of Guangzhou's box volume increases 13.6pc in April
PostTime:2011-06-14 08:13:20 View:932
THE Port of Guangzhou lifted 962,000 TEU in April, an increase of 13.6 per cent compared to the same month in 2010. In that month, the port's throughput grew 8.1 per cent to 25.3 million tonnes, Xinhua reports.
Guangzhou leads high-tech ships
PostTime:2011-03-02 08:27:33 View:830
Guangzhou Longxue Shipbuilding under the umbrella of China State Shipbuilding Corporation (CSSC) delivered two ultra-large newbuildings on the 17th February, becoming the first shipyard in China to make two cases of deliveries in a day. CSSC said on the day that the advanced technology of cutting-edge ships built at Guangzhou-based yards will lead China's shipbuilding industry during the period of the government's 12th development plan, attracting a number of nation's shipbuilders to the area. Meanwhile, Longxue's total newbuilding output for this year is expected to increase dramatically with overall deliveries for this year being likely to hit 17 ships of 2.804m DWT. At the end of the 12th development plan in 2005, the yard's annual newbuilding output would reach 3.5m DWT.
Guangzhou Dockyard loses appeal
PostTime:2010-11-09 07:59:51 View:1014
A Chinese shipyard has failed in an unusual bid to take findings of fact from an arbitration to appeal. The dispute concerns a high value arbitration arising from the failure of a deal to convert the 255,000-dwt VLCC Aegiali (built 1987) into a very large ore carrier. The Embiricos owned vessel was booked for the conversion at Guangzhou Dockyard's Wenchong yard in late 2007 but the project could not go ahead as the Guangzhou Maritime Safety Admininstration would not permit the vessel to navigate through waterways necessary to read the berth. An arbitration panel in the middle of this year ruled that the Aeolos Management linked single ship company Aegiali I was entitled to damages of $59.6m and a refund of an instalment paid to the yard of $9.25m as well as interest on both amounts. Guangzhou Dockyard took the arbitration to appeal on the facts of the case rather than the usual points of law. The shipyard argued that the arbitration panel of Michael Baker-Harber, Robert Gaisford and Simon Gault got the rules of navigation for the Pearl River estuary fundamentally wrong with other issues following on from this. But London high court judge, Justice Blair said it was very doubtful if the court had jurisdiction to hear an appeal on questions of fact even if both sides agreed to such an appeal. But the judge also concluded that there had been no such agreement. But he also noted an agreement between the two sides meant there was no need to obtain permission for an appeal on a question of law. So further proceedings appears in prospect over this aspect of the arbitration finding. The failed conversion has already been the subject of litigation in New York with the shipowner last year winning a $92m freezing order against the yard although this was lifted earlier this year. The US litigation pointed to the owners believing the shipyard had either overbooked or failed to secure the necessary regulatory permits as it found a more attractive conversion project-the conversion of the tanker Exxon Valdez of US spill fame into the 214,000-dwt bulk carrier Dong Fang Ocean (built 1986). Following the failure of the conversion deal the Aegiali continued to trade as a tanker until it was sold to Bangladesh breakers in March this year. It was reported at the time that the vessel fetched $428 per ldt, or a total of $14.7m.
PostTime:2010-10-28 08:10:15 View:1052
Guangzhou Shipyard International has piled on the profit in the third quarter despite seeing a sizeable drop in revenues. Cost-cutting and a positive reversal in foreign exchange fortunes were behind the rise as delays hit sales. Net profit for the three months to the end of September was CNY 264.3m ($39.69m), a 61% hike on the CNY 164.5m taken in the comparable period last year. This was against an almost 16% dive in operating revenues from CNY 1.93 billion to CNY 1.63bn as shipbuilding delays held up deliveries of fresh units. Much of the positive swing in profit cane been seen in the slashing of operating costs from CNY 1.7bn to CNY 1.33bn on the back of tight cost controls and reduced material and equipment expenses. There was also a positive CNY 55m swing in foreign exchange items which eroded an impairment loss of CNY 12.47m in the period. Hong Kong-listed Guangzhou has an orderbook of 46 vessels.
Port of Guangzhou growth expected to slow in later half of year
PostTime:2010-08-06 08:08:32 View:933
THE Port of Guangzhou lifted 6.1 million TEU from January to June, up 16.8 per cent year on year and one per cent more than the same period in 2008 before downturn.But the growth is expected to slow down in the later half of year, Xinhua reported.In the first half of year, the port registered a cargo tonnage of 201 million tonnes, up 11.7 per cent year on year, but down 8.1 per cent compared to the same period in 2008.In June, Guangzhou handled 1.02 million TEU, down 3.2 per cent over last year. Cargo tonnage dropped 1.1 per cent.An unidentified person from the Guangzhou Port Group said that the port is doing better than in last year, but with uncertainties in domestic and overseas economy and a sharp fall in demand for production material like coal, ore and steel, the growth in throughput is likely to slow down in the later half of year.
PostTime:2010-07-26 14:59:13 View:936
China’s CSSC Guangzhou Longxue shipbuilding signed contract with Taiwanese U-Ming Marine Transport Corp to build two units 82,000-dwt bulk carriers. In witness of the ceremony, Chairman Xu xudong and General Wang Shuji of U-Ming, General Manager Tan Zuojun of CSSC were present. Chairman Xu xudong of U-Ming expressed both parties signed the contract as soon as The Cross-Strait Economic Cooperation Framework Agreement (ECFA) formally came out on June 29th. He said ECFA would enhance the communication between Taiwan and Mainland China. It was regarded as a new beginning. General Manager Tan Zuojun of CSSC indicated that the group would carry out more cooperation’s with Taiwanese companies. With ECFA signed, more orders will be triggered between both parties.
Wuhan-Guangzhou rail frequency down to 8 minutes at peak hours
PostTime:2010-07-21 15:53:11 View:1066
CHINA expanded railway services this month with cargo and passenger capacity on the Wuhan-Guangzhou railway increasing as train frequencies between the two places some 900 kilometres come down to eight minutes at peak hours and every 20 minutes off peak. Xinhua reported that Guangzhou Railway Group said since the Wuhan-Guangzhou high-speed passenger rail service upgraded from 33 runs daily to 63 runs daily at peak season, the passenger transportation pressure on the Wuhan-Guangzhou section of the Beijing-Guangzhou railway has been relieved, thus the cargo capacity on this section increased. More than 250,000 tonnes in extra cargo capacity per day has been added to the Wuhan-Guangzhou railway, facilitating their plan to offer customers more diversified and tailor-made services of higher quality. From July 1 on, China has increased the cargo rail service frequencies from 15 to about 20 runs every day and launched 11 new cargo service on the southern section of the Beijing-Guangzhou railway. China will also launch six new international intermodal and automobile rail transportation services from Yueyang to Hengyang, from Wuhan to Guangzhou and from Shaoguan to Hunan.