16 Maret 2018

[160318.EN.SEA] Insurers Face Multi-million-dollar Claims From Maersk Ship Fire

THE fire-damaged 15,262 TEU Maersk Honam has rocked the insurance industry with a repair bill to the tune of hundreds of millions of dollars, although some shippers will not have been insured, according to the UK's Loadstar.

According to AIS signals received from one of the salvage tugs in attendance, the vessel was still-smouldering while being towed to port of refuge, heading slowly in the direction of Mumbai.

The 2017-built Maersk Honam caught fire on March 6 in the Arabian Sea en route to the Mediterranean, via the Suez Canal, claiming the lives of four seafarers with a further crew member presumed lost.

According to the Indian coastguard pictures, hundreds of containers in the fore section of the mega ship appeared to be a total loss, but boxes stowed behind the superstructure and in the aft section looked intact.

Maersk declared a general average (GA) on March 9 and appointed Liverpool-based average adjuster Richards Hogg Lindley to collect the necessary GA security. It said it had advised cargo owners, including 2M partner MSC, of its decision to declare GA.

MSC requested its customers to contact their insurance company "so that your cargo can be released without delay," adding: "We have not received any reliable information regarding the condition of your cargo, but we will be sure to inform you after we are notified."

However, many of the shippers may not have arranged any marine cargo insurance and will be in for a shock when the average adjusters require a substantial deposit before the release of undamaged containers. The basic concept of GA is that all losses, including salvage, port and transfer costs are shared between surviving cargo.

For cargo that was insured, marine reinsurance branches are bracing for an avalanche of claims. Insurers have for some time expressed their concerns about their exposure in the event of a major incident to a mega containership.

Source : HKSG.



15 Maret 2018

[150318.EN.BIZ] Cathay Pacific's Annual Loss of US$161m is Biggest in Nine Years

HONG Kong's Cathay Pacific Airways has reported a net loss of HKD1.26 billion (US$161 million) for 2017, its biggest annual loss in nine years, wider than the prior year's loss of HKD575 million but smaller than an average loss estimate of HKD2.15 billion drawn from 11 analysts polled by Thomson Reuters.

The annual loss was slimmer than expected due to the rebound in the cargo market which helped offset fuel hedging losses and stiff competition for passengers.

Cathay reported an attributable profit of HKD792 million in the second half, helped by an improving cargo market and profits from subsidiaries and associates such as Air China, which offset its first half loss of HKD2.05 billion.

This was Cathay Pacific's second consecutive year of losses and its fourth since the airline was founded in 1946. Revenue grew 4.9 per cent to HKD97.28 billion, while cargo revenue surged 19.1 per cent to HKD23.9 billion.

Cathay last year launched a three-year turnaround programme that aims to make HKD4 billion in savings. It has announced job cuts and plans to boost productivity including increasing the number of economy-class seats on Boeing 777 planes.

Cathay's chairman John Slosar said in a statement: "We are confident of a successful outcome from these efforts," referring to the turnaround programme.

"We also look to benefit from a slowing of the decline in passenger yields as global economic conditions improve. The outlook for our cargo business is positive and we will take best advantage of opportunities in the growing global cargo market."

He warned, however, that fuel costs were increasing and impacting operating costs, although the firm's losses from expensive fuel hedging contracts shrank 24.6 percent over the year.

Cathay Pacific reported a 3.3 per cent decline in yields, a proxy for ticket prices, in 2017, although it said they had improved by 3.1 per cent in the second half of the year compared with the first half. Its full-year cargo and mail yield grew 11.3 per cent, helped by the growth of e-commerce and as buoyant consumer confidence spurred companies to restock inventories.

Source : HKSG.

[150318.ID.BIZ] Begini Kiat Pendiri Jababeka Lahirkan Kawasan Ekonomi

KONTAN.CO.ID - JAKARTA. Guna merealisasikan pembangunan merata, Indonesia membutuhkan 100 sampai 500 kawasan industri atau kawasan ekonomi baru. Maklum, Indonesia yang terdiri dari 17.000 pulau masih mengandalkan Pulau Jawa sebagai satu-satunya pusat ekonomi.

Setyono Djuandi Darmono, pendiri Jabebeka Group mengatakan untuk membangun kawasan ekonomi khusus, insentif dan peraturan harus bersifat otoritas dan berbeda dari daerah lainnya. "Investor tidak akan mau masuk kalau tidak ada sesuatu yang menarik," ujar Setyono di Jakarta, Rabu (14/3).

Dia mengatakan, Jababeka Cikarang saat awal merintis kawasan industrinya menyediakan layanan one stop service sehingga investor tak perlu lagi mengurus perizinan, pembangkit listrik, izin AMDAL, sampai infrasktruktur penunjang seperti sekolah. "Itu bukan kerjaan investor, mereka tinggal bawa uang untuk bangun pabrik," katanya.

Kemudahan ini membuat Jababeka mampu mendatangkan setidaknya 2.000 pabrik dan mampu menyerap lebih dari satu juta orang. Meski begitu, dia bilang satu kawasan harus berbeda peraturannya dengan kawasan lain menyesuaikan dengan kekuatan daerah masing-masing. Semakin jauh, harus semakin menarik.

"Contohnya Las Vegas, padang pasir bisa disulap jadi kota yang menghasilkan devisa luar biasa, karena regulasinya berbeda, apa yang tidak boleh dibangun di New York dan Washington di Las Vegas boleh," ujar Darmono.

Darmono menambahkan, meski pemerintah sudah menciptakan Kawasan Ekonomi Khusus (KEK), namun peraturannya masih belum mendukung. Peraturan KEK tak jauh berbeda dengan peraturan yang berlaku secara nasional. Hal ini membuat investor akan lebih tertarik dengan pulau Jawa karena ketersediaan infrastruktur.

Jika lokasi kawasan jauh dan belum tersedia infrastruktur, pemerintah juga bisa mendatangkan investor untuk membangun infrastruktur. "Karena investasi infrastruktur cukup besar sampai milyaran dolar, seharusnya yang membangun itu investor bukan pemerintah, bereskan pendidikan dan kesehatan dan mulailah dengan sektor pariwisata, investor akan datang," terang Darmono.

Dia bilang, pemerintah hanya perlu membangun infrastruktur yang bisa menghasilkan uang cepat untuk membayar utang. Setelah itu, infrastruktur terus dibangun untuk menunjang fasilitas kawasan ekonomi dan pertumbuhan penghuninya.

Setelah itu, pengembang kawasan juga harus terus melakukan sosialisasi dengan pemerintah pusat, daerah dan masyarakat. Sebab, kawasan tak akan berjalan baik jika ketiga pihak tersebut tak harmonis. Jababeka Cikarang setidaknya perlu waktu sampai tujuh tahun untuk melakukan harmonisasi di awal tahap pembangunan kawasan.

"Sampai sekarang, Jababeka Cikarang sudah berdiri 29 tahun juga belum bisa dibilang mature, karena pembangunan daerah itu dimulai dengan menumbuhkan lapangan kerja, pembanguan perumahan untuk pekerja dan fasilitas kesehatan, pendidikan dan tempat hiburan," katanya.

Asal tahu saja, Jababeka juga tengah membangun kawasan ekonomi di Morotai, Tanjung Lesung dan Kendal. Di Morotai dan Tanjung Lesung, Jababeka masih tahap pembangunan fasilitas umum seperti sarana pendidikan, kesehatan dan hiburan. Di Morotai, rencananya akan menjadi kawasan pariwisata, pertanian dan pusat logistik dan di Tanjung Lesung akan fokus pada sektor pariwisata. Sementara di Kendal, Jababeka fokus pada sektor industri manufaktur. "Di Kendal sudah laku sekitar 80 hektar, mungkin ada sekitar 80 pabrik," tandasnya.

Sumber : Kontan, 15.03.18.

14 Maret 2018

[140318.EN.BIZ] East Coast Dockers, Employers Resume Talks Stalled Since December

US EAST coast dockers and waterfront employers appeared to have knuckled under shippers’ threats to divert cargo to the west coast, and have at last agreed to resume dock talks, stalled since December 6, reports American Shipper.

The International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) say they are resuming master contract negotiations to finalise a contract that will keep cargo moving to the east coast after September 30 when the contract expires.

ILA President Harold Daggett said in December a proposal from USMX “would have killed this union within five years – they’ll be nothing left. As of today, the ILA is against semi-automated terminals.”

More than 100 shippers, led by the National Retail Federation, recently demanded the two parties to resume talks, threatening to divert cargo away if they did not.

Said a joint statement SMX and the ILA: “USMX and the ILA want to keep cargo moving, and we are ready to put in the effort to get this job done to the satisfaction of employers and ILA.

“The ILA has received assurances from USMX that issues and concerns regarding automation have been adequately addressed, opening a path towards successfully negotiating a new agreement well before the current master contract expires at the end of September,” said the statement.

ILA spokesman Jim McNamara said that the two parties were able to clarify definitions of semi-automated terminals, fully-automated terminals, and semi- and fully-automated equipment, allowing the talks to resume.

Source : HKSG.

[140318.ID.BIZ] Pabrik Baru INKA Rp600 Miliar Siap Beroperasi 2019

Bisnis.com, MADIUN - PT Industri Kereta Api atau INKA (Persero) berencana membangun satu pabrik baru di lokasi yang berdekatan dengan pelabuhan laut. Perseroan mengincar dua lokasi yakni di Lampung atau Banyuwangi.

Agung Sedaju, Direktur Teknologi dan Komersial INKA, mengatakan bahwa INKA mengalokasikan dana senilai Rp600 miliar untuk membangun pabrik baru yang ditargetkan beroparasi pada 2019. Pabrik tersebut diharapkan dapat membantu perseroan untuk menyediakan kereta khususnya untuk pasar luar Pulau Jawa.

"Ini nanti untuk produk-produk yang kami jual ke luar Jawa. Untuk hal-hal kecil seperti AC dan lain-lain bisa dikerjakan di sini [Madiun], tapi untuk yang besar-besar dibuat di pabrik yang dekat pelabuhan," ujarnya kepada Bisnis, Rabu (13/3/2018).

Agung menuturkan bahwa keputusan untuk membangun pabrik baru tinggal menunggu RUPS perseroan. Jika disetujui, perseroan akan memilih salah satu lokasi yang paling kompetitif untuk mengirimkan kereta ke luar Pulau Jawa.

Dia mengklaim pembebasan lahan untuk kedua lokasi telah dilakukan sehingga tidak ada kendala berarti untuk pembangunan pabrik. Pabrik baru tersebut, paparnya diharapkan dapat meningkatkan kapasitas produksi INKA yang saat ini hanya mengandalkan pabrik di Madiun.

"Kapasitas di sini 500 kereta per tahun dengan 3.000-an tenaga kerja. Jika ditotal dengan industri pendukung sekitar 5.000-an karyawan," paparnya.

INKA merupakan satu-satunya perusahaan yang memproduksi rangkaian kereta api. Kereta buatan perusahaan pelat merah ini telah telah dipasarkan juga di mancanegara seperti Bangladesh, Filipina, hingga Australia.

Sumber : Bisnis Indonesia, 14.03.18.

13 Maret 2018

[130318.EN.BIZ] OOIL is Back in The Black With a US$138m Profit For 2017

HONG Kong's Orient Overseas (International) Limited (OOIL) has announced a profit attributable to equity holders for 2017 of US$137.7 million, compared to a loss of US$219.2 million in 2016 as a result of the "synchronised economic recovery" around the world which helped the container shipping industry to recover.

OOIL, parent of Orient Overseas Container Line (OOCL), pointed out that OOCL's container transportation and logistics business segment showed a profit of $105.4 million in 2017, compared to a loss of $184.6 million in the previous year.

OOCL's container volume during the year rose 3.6 per cent to 6.29 million TEU compared to 6.08 million TEU in 2016.

The group's revenue surged 15.3 per cent to $6.1 billion in 2017compared to $5.3 billion in the previous year.

The Chairman of OOIL, C C Tung, said: "The economic backdrop for 2017 was more robust than forecasters had expected. Following a decade of low growth, we saw healthier performance in both GDP and trade volumes across most of the world's major economies. This was a welcome change after the industry's low point of 2016."

OOIL said 2017 was a year of tremendous growth for OOCL in both European and US bound trades. For the full year, OOCL's liftings were up 3.6 per cent overall, but 16.3 per cent on Trans-Pacific and 19.7 per cent on Asia-Europe. This growth outpaced the already strong volume growth seen in the market as a whole.

"One of the cornerstone strategies for many years of the OOIL group has been to work in alliance. We are now almost into the second year of the Ocean Alliance with Cosco, CMA CGM and Evergreen. Alliance membership continues to deliver meaningful benefits in terms of network and scale, and very much remains part of delivering our growth strategy," said Mr Tung.

During the year, the Group took delivery of five of a total of six 'Giga' Class 21,413 TEU vessels ordered from the Samsung Heavy Industries shipyard. The last vessel in the series was delivered in January 2018. "No orders for new buildings were placed during the year," the group added.

The chairman said that with the combination of better economic growth and continuing (if moderated) growth in supply, along with higher bunker prices, the industry will experience gradual recovery and "not the boom that some analysts expected when improved economic data first started to appear."

However, Mr Tung expressed optimism for the future: "Against this gradually improving economic background, and in the context of a consolidating industry, the future for OOIL appears to be promising. We are well placed to continue to grow, and look forward to maintaining our track record of being amongst the most consistently highest performers in the industry."

In October 2017 Cosco, OOIL and Shanghai Port Group (SIPG) confirmed Cosco's $6.3 billion acquisition of OOIL. The merger results in the combined entity becoming the world's fourth biggest container carrier, with 400 vessels.

When finalised, Cosco will hold 90.1 per cent of shares while SIPG will hold the remaining 9.9 per cent stake in OOIL.

Source : HKSG.