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SITC (HKEX: 01308, a shipping container company listed on the Hong Kong stock exchange, reported unaudited third-quarter results, despite a slowdown in global trade and a decline in trade between China and the United States. Trade war. SITC's container revenue and freight volume have increased.
Group income.
Group revenues rose 6.48 per cent from $1.06 billion in the first nine months of September 2018 to $1.13 billion in the first nine months of September 2019. An absolute increase of $68.7 million.
Container revenue and traffic volume.
For the nine months ended Sept. 30, SITC's revenue rose 6.4% to about $1.11 billion, an increase of $64.7 million compared with $1.04 billion for the same period in 2018.
The company reported that during the period, the volume of containers in its shipping and logistics business was slightly higher than 1.8 million TEUs (teu), an increase of 3.6 per cent over the same period in 2018. In the first nine months of 2018, the organization processed 1.74 million teu. An absolute increase of 62656 teu.
Average house prices also rose in the first nine months of 2019 compared with the same period in 2018. From January to September, SITC's average freight from container transport and supporting logistics operations was $537.0 per TEU. The increase was about 2.19%.
Osbert Tang is an independent stock long-short analyst who publishes on the Smartkarma platform. Tang pointed out that while the nine-month tariff comparison between 2018 and 2019 showed an increase, the results would be very different if only the third quarter (July-September) rates were compared. Tang pointed out that on a quarterly basis (rather than nine months to nine months), freight rates fell 1.9 per cent in real terms to $520.3 per TEU in the third quarter.
Bourbon and its Angolan joint venture, Sonasurf, have signed an agreement to provide smart shipping plans for five new generation supply ships operating in blocks 17 and 32, respectively. The French supplier said the ships were the bourbon seeker 500 series.The plan aims to enhance security and reliability while reducing costs by 25 per cent over a longer period of time.
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In particular, it is worth mentioning that the agreement simplifies the organization of the ship and transfers some of the functions currently performed on board to shore by improving the connectivity of the vessel. Mr Bourbon says there are three pillars: shipboard business, predictive maintenance and onshore business support.
The plan "enables us to meet the challenge of controlling costs during the current economic recovery". We are pleased to be able to work with Total on this deployment project in Angola. " Said Ivelino do Nascimento, Sonasurf's operations manager.
Victor Shevarier (Victor Chevallier), chief executive of bourbon whisky, said the project "heralded a new way to work together sustainably and optimized the way services were delivered to customers with fewer resources".
In early 2018, bourbon made a strategic cut to its work to cut costs and remain competitive while profit margins were squeezed. The shrewd shipping plan is part of a plan to reduce the number of crew members on board from 14 to 10.
This involves the dynamic positioning of ships and the increased use of shipboard technology in order to simplify management. 'This allows staff to focus on their work, 'Mr. Bourbon said. In addition preventive maintenance will reduce the unusable time of vessels.
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The European Commission (European Commission) is wrestling with China's efforts to get European countries to join its "Belt and Road Initiative" initiative, while there are a series of similar issues on the other side of the world.
During his official visit to Italy last month, Chinese President Xi Jinping reached an agreement involving several Italian ports, giving China an important gateway to Europe at sea and across continents. At the same time, China has been waging a legal battle to consolidate its excessive claim to large swathes of the South China Sea. The South China Sea is one of the busiest waterways in the world.
China's latest investment in Trieste in the northern Adriatic Sea and Genoa, Italy's largest seaport, has added to China's expanding network of seaports and maritime trade routes. These include a stake in the Greek port of Piraeus run by Chinese shipping giant Cosco (Cosco). In Israel, China is building two ports. China has opened its first overseas naval base in Djibouti in the Horn of Africa, strategically located on a maritime route between Asia and Europe.
