Port Report: global box-terminal operator DP World reports revenues of US$5.65 billion

Port Report: global box-terminal operator DP World reports revenues of US$5.65 billion

International terminal mega-operator, DP World, has announced a solid set of results for 2018. Revenues, earnings before interest taxation depreciation and amortization (EBITDA), and net profit all substantially increased last year compared to 2017. Acquisitions and increased box volumes drove revenues and profits. DP World has announced investment plans for 2019.

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Oil major BP announces new low-sulfur fuel

Oil major BP announces new low-sulfur fuel

International oil major BP has announced that it will retail a new very low sulfur fuel oil following successful sea trials, however, it has not released a date when sales will begin. The fuel will have a maximum sulfur content of 0.5 percent and will be sold by BP around the world. BP is one of several refiners, such as Shell and Sinopec, that are offering or are researching low-sulfur fuel.

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Volumes, revenues, profits up for Asian port and terminals operator ICTSI

Volumes, revenues, profits up for Asian port and terminals operator ICTSI

International Container Terminal Services (ICTSI) has released solid results for 2018. The port and terminal operator, which is headquartered in Manila, Philippines, had an up-up-up 2018 compared to 2017. ICTSI’s box volumes were higher, revenues increased and the group generated higher profit.

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Indonesia and Australia sign new free trade agreement

Indonesia and Australia sign new free trade agreement

Trade ministers from Indonesia and Australia signed a new free trade agreement (FTA), the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), in Jakarta, Indonesia, on March 4. The new agreement eliminates nearly all tariffs on the two-way trade in goods between the two nations. A wide variety of non-trade barriers will also be removed.

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Australia faces major shortfall of seafarers

Australia faces major shortfall of seafarers

A maritime labor-supply demand gap is opening up in Australia as its marine workforce is old and getting older, according to a new report from local domestic trade association Maritime Industry Australia. Worse still, there are fewer and fewer young people entering the local maritime industries.

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Minor bulks generate billions for major miner Rio Tinto

Minor bulks generate billions for major miner Rio Tinto

Australian miner Rio Tinto generated over US$12 billion (all figures in U.S. dollars) from its bauxite, alumina and aluminum production in 2018. It predicts about 67 million tonnes production of bauxite, alumina and aluminum this year. These minor bulk commodities are significant seaborne cargoes.

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China-U.S. tensions hurt confidence and re-route APAC supply chains

China-U.S. tensions hurt confidence and re-route APAC supply chains

Political tensions in the Washington-Beijing bilateral relationship are making the China-based U.S. business community uneasy. Tariffs are being blamed for driving business confidence down, decreasing investment and for re-routing Asia-Pacific supply chains.

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