New NY/NJ Port Record

The Port of New York and New Jersey still shows good results as it handled an all-time record of 1,8 million TEU during the first quarter of 2019 and increased result for 6.7% over the same period in 2018.

NY/NJ’s first quarter performance comes on the back of a 2018 milestone in which the port handled over 7 million TEU for the first time in its history.

During March 2019, the port handled 585 thousand TEUs, which represented a 4% increase over the previous March record, set in 2018.
Cargo growth in March 2019 was bolstered by a 12% increase in export containers over March 2018.

According to the handled cargo volume, the Port of New York and New Jersey retains its position as the busiest on the US East Coast.

Higher Income For Norwegian Cruise Line

Norwegian Cruise Line Holdings is reporting record earnings for Q1 2019. Their net income stood at USD 118.2 million compared to USD 103.2 million in 2018.

They also saw a revenue increase of 8.5% to USD 1.4 billion. The rise was mainly due to the addition of Norwegian Bliss to the fleet and high onboard spending.

As stated by Mark A. Kempa, executive vice president and chief financial officer: “The strong demand environment we have been experiencing for some time is continuing throughout 2019 and into 2020. . . bringing our total shareholder capital returns to USD 600 million over the last four quarters.”

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First Grimaldi's hybrid RORO vessel

Jinling Shipyard in China has started construction of the first hybrid RoRo freighter for Grimaldi Group.

12 vessels in the class are scheduled to be built and the first delivery expected to be done in 2020.

The hybrid vessels will use traditional fossil fuels during operation and battery power when in port.

The hybrid RORO vessel measure around 240 meters in length and has a beam more than 30 meters. The 64 thousand ton ships will be capable to transport over 7,800 lane meters of rolling units, equivalent to approximately 500 trailers.

Power and hybrid systems for the ships will be constructed by Kongsberg Maritime, while Steering gears and propulsion and maneuvering systems will be delivered by Rolls-Royce.

The newbuilds are the part of Grimaldi’s fleet renewal, which will see the Italian shipping company invest USD 1.5 billion in new units.

South Korean shipbuilder Samsung Heavy Industries has signed a deal to deliver a liquefied natural gas (LNG) carrier to an undisclosed shipowner in March 2022.

According to Samsung, the contract is worth around KRW 221.6 billion (USD 190 million). This brings the company's orderbook to USD 2.6 billion, which is 33% of its goal for 2019.

Samsung Heavy’s current target is USD 7.8 billion, an increase over last year’s goal due to a robust newbuilding market.