01 September 2014

[010914.EN.SEA] CMA CGM Profit Falls 185pc to US$94 Million On Record Revenues Up 3.7pc

MARSEILLES container carrier CMA CGM, the world's third biggest, has posted a 185 per cent second quarter net profit decline to US$94 million, drawn on record revenues of $4.2 billion, an increase of 3.7 per cent.

But this did not include last year's one-off $248 million gain from the sale of the 49 per cent of port operator Terminal Link. 

Volumes carried by the French shipping line increased eight per cent to 3.1 million TEU, compensating for a 3.9 per cent quarterly drop in per box revenue.

Cost per TEU was reduced 4.8 per cent with a 9.8 per cent drop in fuel cost per box owing to lower bunker prices and increased efficiency.

CMA CGM's volume growth was mainly attributed to its Asia-Europe and Africa lines, as well as Asia Pacific lines under its subsidiary, ANL.

During the quarter CMA CGM signed a partnership agreement to develop a new terminal in Mundra, India with local company Adani.

Negotiations have also begun for a terminal in Kingston, Jamaica, which could become the company's Caribbean transshipment hub.

The company's fleet size grew by one to 430 ships, while the fleet capacity increased three per cent to 1,589 TEU.

"Freight rates remained volatile overall, with the usual high level of volumes at this time of the year helping drive current rate increases. On this basis, CMA CGM expects its third-quarter operating performance to be sustained, said the company statement.

Source : HKSG.

[010914.ID.BIZ] Impor Turun, Rupiah Masih Melemah

TEMPO.COJakarta - Penguatan dolar masih menjadi faktor penekan rupiah meski data ekonomi dalam negeri sedikit membaik. Di transaksi pasar uang hingga pukul 12.30 WIB, rupiah melemah 10 poin (0,08 persen) ke level 11.700 per dolar Amerika Serikat.

Rilis data Badan Pusat Statistik menyebut neraca perdagangan bulan Juli mengalami surplus tipis US$ 123,7 juta. Nilai ekspor Indonesia tercatat US$ 14,18 miliar sementara impornya sebesar US$ 14,05 miliar. Namun, tekanan terhadap rupiah lebih disebabkan oleh faktor eksternal.

Dolar semakin kuat di pasar global setelah rilis data-data ekonomi AS tercatat membaik dan inflasi di zona euro melambat. Ini membuat pelaku pasar lebih memilih untuk berinvestasi pada aset berisiko rendah. Imbasnya, dolar kembali menguat terhadap mata uang utama dunia.

Di sisi lain, masih ada risiko dari kelanjutan konflik Ukraina yang kemungkinan pecah sewaktu-waktu dan potensi tekanan dari stimulus bank sentral Eropa (ECB). "Pelonggaran moneter tahap lanjut dari ECB akan memicu pelemahan euro dan sebaliknya menambah dorongan terhadap dolar," ujar Masashi Murata, analis dari Brown Brothers Harriman, Tokyo.

Pasar semakin yakin bahwa stimulus ECB akan digulirkan cepat atau lambat. Sinyal melambatnya perekonomian Jerman membuat posisi ECB sulit untuk tidak mengeluarkan stimulus," kata Murata.

Hingga pukul 12.30 WIB, euro melemah ke level US$ 1,31, poundsterling melemah ke US$ 1,66. Di pasar Asia, won Korea melemah ke level 1.013,94 per dolar AS, ringgit melemah ke 3,16 per dolar AS, dan baht Thailand melemah ke level 31,98 per dolar AS.
Sumber : Tempo, 01.09.14.

31 Agustus 2014

[310814.EN.BIZ] Social Justice At Sea Narrows Racial Wage Gaps, Improves Conditions

EUROPEAN seafarers still command better wages than others though the gap is narrowing, says a spokesman for seafarer wage benchmarking consultancy Precious Alliance, reports Lloyd's List.

Differences are not huge. "You are not looking at double wages. There is a definite premium, but it isn't something that is scaring people from employing them," he said.

A Polish master on a product tanker can expect to be paid US$7,500-$8,500 a month, compared to the $6,500-$7,000 for a Filipino.

A Polish master on a bulk carrier can make $4,000-$5,500 a month, which overlaps with the $3,500-$4,200 a Filipino would command, according to Precious Alliance.

The International Maritime Employers' Council (IMEC) said the employer of German officers was paying $12,000-$14,000 a month for a master and $8,000 for a fourth engineer with other grades in between.

Croatian masters get $10,000 a month, although other grades do less well proportionately. No other masters get more than $9,000, said the report.

A Filipino master can be had for $6,000, less than half the salary of his German counterpart, while Chinese, Ukrainian and Filipino third engineers and third officers get between $2,000-$4,000 half the rate of a German fourth engineer.

IMEC operations and training manager Adam Lewis said Europeans get more because "they're are worth it".

"You've got to look at other aspects," he said. "It could be quality, it could be communication on board, it could be leadership. A lot of shipowners will look at more than just price on board."

When Maersk sacked 200 European seafarers in a cost-saving drive six year ago, the company said Danish chief stewards were six to seven times more expensive than those from low wage countries.

In wages, there is minimum for an AB (able) seaman agreed by the International Labour Organisation Joint Maritime Commission, binding on all 185 member states.

This rose to $585 a month from the end of last year. Assuming 104 hours overtime a month and paid annual leave, this equates in practice to something like $1,028 a month.

British seamen earn an average $44,900 a year according to Annual Survey of Hours and Earnings, published by Britain's Office of National Statistics.

Then there is the Maritime Labour Convention (MLC), which is supposed to enhance the lives of seafarers.

Marc Schippers, who ministers to seafarers in Antwerp, remains unconvinced about the effectiveness of the convention.

"If you compare the figures, the number of exploitation cases I have handled since the MLC was put in place has not dropped from last year," he said.

"Working hours and levels of tiredness remain concerning - the hours of sleep that most seafarers get before coming into port is still very low, which can lead to extreme fatigue, accidents and poor decision making. This is what I nhe said.

But Peter Donald, Sailors' Society's Dundee and Montrose chaplain, said the MLC is a "great begining".

"Reputable companies were already providing a good living and working standard for their crews, and now display notices and certificates of compliance," he said.

"The difference is that crews now feel they have more bargaining power when conditions are not up to scratch. If something is substandard, they feel they can speak up and assert their rights," said Mr Donald.

Source : HKSG.

[310814.ID.BIZ] Berau Coal (BRAU) Dirikan 4 Anak Usaha Baru Dalam 1 Bulan

Bisnis.com, JAKARTA—Hanya dalam waktu satu bulan yakni selama bulan Juli 2014, PT Berau Coal Energy Tbk. (BRAU) telah mendirikan empat anak usaha baru.

Hal itu terungkap dalam bagian peristiwa setelah tanggal periode laporan yang ada dalam laporan keuangan BRAU per 30 Juni 2014 seperti dikutip, Jumat (29/8/2014).

Dua anak usaha di antaranya bergerak di bidang usaha jasa, jasa perdagangan, pembangunan, dan transportasi darat, yaitu PT Energi Bara Sarana dan PT Banua Karsa Mitra.

Sisanya adalah dua entitas anak yang didirikan di Singapura, yaitu Berau Capital Resources II Pte Ltd dan Berau Capital Reserves II Pte Ltd.

Adapun sepanjang paruh pertama 2014, Berau Coal Energy membukukan penjualan sebesar US$705,75 juta, turun tipis 2,26% dibandingkan dengan periode yang sama tahun sebelumnya sebesar US$722,11 juta.

Perseroan masih menderita rugi bersih yang dapat diatribusikan kepada pemilik entitas induk sebesar US$44,41 juta, berhasil ditekan 4,1% dari rugi pada periode yang sama tahun sebelumnya sebesar US$46,31 juta.

Sumber : Bisnis Indonesia, 29.08.14.

30 Agustus 2014

[300814.EN.SEA] Maersk Line CEO Says Little Hope of Rate Relief, Focus Must Be On Cost Cutting

EROSION of freight rates in the global container shipping trades is likely to continue for the foreseeable future, says Maersk Line CEO Soren Skou, echoing the view of Maersk group CEO Nil Andersen.

Said Mr Skou: "When it comes to pricing, we do not subscribe to the view that freight rates will get better in the industry - all the evidence points to declining rates."

A few days before, Mr Andersen said: "We have given up on the idea of growing faster than the market and we have adapted our capacity expansion to realistic market growth expectations."

Maersk Line is one of the few to have solid second quarter results, helped by unexpected good volumes in the Asia-Europe trades which helped to stabilise freight rates, said Lloyd's List.

But much of the credit for the Maersk profitability goes to strenuous cost cutting. "We do not base our strategy on prices magically starting to increase," said Mr Skou, adding that the company was focussed on cost reduction.

Maersk's rate forecasting is based on supply and demand data coupled with an examination of the global orderbook, from which is distilled fleet capacity growth of three to four per cent a year.

"So there is not a lot of evidence that the supply-demand balance is going to get better in the coming years, and even if it did, I think it would be short-lived," said Mr Skou.

Moreover, half the orderbook is for 10,000 TEUers or bigger, which are only suited to Asia-Europe trades.

Source : HKSG.

[300814.ID.AIR] Malaysia Airlines (MAS) : Terus Merugi, 6.000 Karyawan Dirumahkan

Bisnis.com, KUALA LUMPUR - Maskapai penerbangan Malaysia Airlines (MAS) merumahkan 6.000 pekerjanya dalam upaya restrukturisasi perusahaan itu agar kembali menguntungkan.

Pejabat Khazanah Nasional Berhad, Tan Sri Azman Mokhtar mengatakan semua pekerja tersebut akan menjalani proses pemberhentian secara bertahap dalam tempo 10 bulan.
Dia menjelaskan jumlah pekerja yang dirumahkan tersebut meliputi 30% dari total karyawan MAS yang mencapai 20.000 orang.
"Pemberhentian tersebut merupakan bagian dari 12 rancangan untuk memulihkan kondisi perusahaan dengan suntikan dana 6 miliar ringgit ," katanya, seperti dikutip Antara, Sabtu (30/8/2014).

Namun, sekitar 3.500 pekerja yang dirumahkan itu akan dipekerjakan di perusahaan lain di bawah Khazanah.
Berdasarkan rencana tersebut, perusahaan baru yang diperkirakan akan dibentuk menjelang Juli 2015 akan mempunyai sekitar 14.000 pekerja.
Khazanah memiliki hampir 70% saham MAS. Rancangan pemulihan MAS diawali dengan mengeluarkan maskapai itu dari bursa saham Malaysia menjelang November atau Desember.
Azman menegaskan bahwa suntikan dana 6 miliar ringgit itu bukan merupakan langkah penyelamatan karena dana itu bisa diperoleh lagi dengan memasukkan kembali maskapai penerbangan nasional itu menjelang akhir 2017 dan akhir 2019 di bawah pembentukan perusahaan baru.
MAS diperkirakan kembali mencatat keuntungan dalam waktu tiga tahun atau menjelang 2017.
Kerugian yang dialami MAS semakin memburuk setelah tragedi pesawat Boeing 777-200 yang diduga terhempas di selatan Samudra Hindia pada 8 Maret dan satu lagi pesawat ditembak jatuh di timur Ukraina pada 17 Juli.

Sumber : Bisnis Indonesia, 30.08.14 / Kredit Foto : Business Week.

29 Agustus 2014

[290814.EN.AIR] Qantas Posts US$2.6 Billion Annual Loss - 'Worst is Over,' Says CEO Joyce

AUSTRALIA's flag carrier Qantas has posted an annual net loss of A$2.8 billion (US$2.6 billion), drawn on revenues of A$15.3 million, which declined 3.9 per cent.

Qantas Freight reported a 50 per cent year-on-year decline in operating profit to A$24 million, blamed on the sale of Star Track Express in FY13.

“There is no doubt today’s numbers are confronting, but they represent the year that is past,?said Qantas CEO Alan Joyce.

“We have now come through the worst. With our accelerated Qantas Transformation programme we are already emerging as leaner, more focused and more sustainable," he said.

“There is a clear and significant easing of both international and domestic capacity growth, which will stabilise the revenue environment," he said.

“We expect a rapid improvement in the group’s financial performance ?and a return to profit in the first half of FY15, "subject to factors outside our control? Mr Joyce said.

The group will to sell non-core assets such as airport terminals, property and land holdings. Proceeds will be used to repay debt, said Qantas statement.

"No new Jetstar ventures will be established while the group is focused on transformation," the statement said.

Mr Joyce said the group’s priority now was to push forward with the accelerated Qantas Transformation programme after a positive start.

“After an extremely difficult period, we are focused on building momentum with our turnaround in FY15,?Mr Joyce said.

Some losses were due to challenging air cargo markets, said the company statement, which. added that the integration of Australian Air Express with Qantas Freight is complete and benefits started to flow in the second half.

Much hope is placed on the cost cutting Qantas Transformation programme as well as the stabilising operating environment, as market capacity growth subsides.

The repeal of the costly carbon tax will help, as will keeping fuel costs in line with the first half of FY14. Add to that, the reduced depreciation costs compared with the first half of FY14.

Source : HKSG.