Marine Products is a manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including Premiere Sport Yachts, SSi Wide Techs, SSX Bowriders, Sunesta Wide Techs and Xtremes, Signature Cruisers, and outboard sport fishing boats by Robalo.For the quarter ended March 31, 2009, Marine Products generated net sales of $13,806,000, a 78.9 percent decrease compared to $65,542,000 last year. The decrease in net sales was due to a decrease of 77.9 percent in the number of boats sold and additional costs recorded during the quarter of our winter retail incentive program. Gross loss for the quarter was $58,000, compared to a gross profit of $13,464,000, or 20.5 percent of net sales, in the prior year.
Monday, May 4, 2009
Marine Products Corp 1Q 2009 Results
Marine Products Corporation (NYSE:MPX) announced its unaudited results for the quarter ended March 31, 2009.
Marine Products is a manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including Premiere Sport Yachts, SSi Wide Techs, SSX Bowriders, Sunesta Wide Techs and Xtremes, Signature Cruisers, and outboard sport fishing boats by Robalo.For the quarter ended March 31, 2009, Marine Products generated net sales of $13,806,000, a 78.9 percent decrease compared to $65,542,000 last year. The decrease in net sales was due to a decrease of 77.9 percent in the number of boats sold and additional costs recorded during the quarter of our winter retail incentive program. Gross loss for the quarter was $58,000, compared to a gross profit of $13,464,000, or 20.5 percent of net sales, in the prior year.Read More
Marine Products is a manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including Premiere Sport Yachts, SSi Wide Techs, SSX Bowriders, Sunesta Wide Techs and Xtremes, Signature Cruisers, and outboard sport fishing boats by Robalo.For the quarter ended March 31, 2009, Marine Products generated net sales of $13,806,000, a 78.9 percent decrease compared to $65,542,000 last year. The decrease in net sales was due to a decrease of 77.9 percent in the number of boats sold and additional costs recorded during the quarter of our winter retail incentive program. Gross loss for the quarter was $58,000, compared to a gross profit of $13,464,000, or 20.5 percent of net sales, in the prior year.
OOIL Chairman and CEO wins Lifetime Achievement Award
CC Tung, Chairman and CEO of Orient Overseas International Limited (OOIL), has been awarded the Lifetime Achievement Award at the Asian Freight and Supply Chain Awards (AFSCAs), held in Hong Kong on April 22
The award was presented by Hong Kong Secretary for Transport and Housing, Eva Cheng.The Lifetime Achievement Award is decided by Cargo news Asia's international network of editors and correspondents, and is given to an individual in recognition for his contributions to the transport and logistics industry over the years, showing both leadership and commitment to the development of the industry as a whole. Mr Tung’s contributions to the shipping industry in Hong Kong and around the world have been substantial. Mr Tung was Chairman of The Hong Kong Shipowners’ Association from 1993 to 1995 and Chairman of the Hong Kong General Chamber of Commerce from 1999 to 2001.Read More
The award was presented by Hong Kong Secretary for Transport and Housing, Eva Cheng.The Lifetime Achievement Award is decided by Cargo news Asia's international network of editors and correspondents, and is given to an individual in recognition for his contributions to the transport and logistics industry over the years, showing both leadership and commitment to the development of the industry as a whole. Mr Tung’s contributions to the shipping industry in Hong Kong and around the world have been substantial. Mr Tung was Chairman of The Hong Kong Shipowners’ Association from 1993 to 1995 and Chairman of the Hong Kong General Chamber of Commerce from 1999 to 2001.
Piraeus Port lower fees, seeks more clients
Realizing that lean times require bold measures, the Piraeus Port Authority (OLP) finally gave in into the pressures by importers, agents and lines to rethink its fee strategy.
OLP announced the extension of the decision taken in the beginning of the year (regarding the first half of the year), under which fees for the car handling terminal will remain unchanged until the end of the year. The management realized that further incentives are needed to reignite part of the activity at the port, as the car terminal’s business has fallen by 40% compared to the previous year. Added, to the above, OLP said that no requirements will be in place, regarding the minimum required number of cars per sailing. Further to the above, interested customers can sign deals based on volume, for a number of 20,000 car per annum, with a flat rate. Also, special pricing will be applied regarding storage fees. Based on the number of vehicles and the length of storage, customers can benefit from a 50% increase in free storage time, as well as a 20% lower price in the remaining days of storage.Read More
OLP announced the extension of the decision taken in the beginning of the year (regarding the first half of the year), under which fees for the car handling terminal will remain unchanged until the end of the year. The management realized that further incentives are needed to reignite part of the activity at the port, as the car terminal’s business has fallen by 40% compared to the previous year. Added, to the above, OLP said that no requirements will be in place, regarding the minimum required number of cars per sailing. Further to the above, interested customers can sign deals based on volume, for a number of 20,000 car per annum, with a flat rate. Also, special pricing will be applied regarding storage fees. Based on the number of vehicles and the length of storage, customers can benefit from a 50% increase in free storage time, as well as a 20% lower price in the remaining days of storage.
Sunday, May 3, 2009
47% Decline In Ship Orders Actually Good News
The JSEA represents the major Japanese shipbuilders, including Mitsubishi Heavy Industries, Imabari, IHI, Mitsui, Universal, Kawasaki and Sasebo
Japan has been steadily losing market share for traditional ships over the last two decades to Korea and now to China. Japan has responded by focusing on higher tech vessels and high-spec traditional ships.Japanese shipyards enjoy a virtual monopoly in building ships for domestic shipping lines. The numbers reported were for export vessels. While certainly not the numbers one would wish to publish, they actually tell a remarkable tale of resiliency. Competition yards in Korea and China have seen new orders virtually disappear since 1Q08, and have been fighting order renegotiations and cancelations. According to the JSEA, the combined order backlog in March of 2009 is at 1,312 ships versus 1,335 in March of 2008. Any of the Korean or Chinese yards would love to have their backlogs show similar trends.Read More
Japan has been steadily losing market share for traditional ships over the last two decades to Korea and now to China. Japan has responded by focusing on higher tech vessels and high-spec traditional ships.Japanese shipyards enjoy a virtual monopoly in building ships for domestic shipping lines. The numbers reported were for export vessels. While certainly not the numbers one would wish to publish, they actually tell a remarkable tale of resiliency. Competition yards in Korea and China have seen new orders virtually disappear since 1Q08, and have been fighting order renegotiations and cancelations. According to the JSEA, the combined order backlog in March of 2009 is at 1,312 ships versus 1,335 in March of 2008. Any of the Korean or Chinese yards would love to have their backlogs show similar trends.
New president for UAE Ship Owners Association
Dubai: Ahmad Abdullah Al-Ghurair, director of Emirates Trading Agency, has been elected president of the UAE Ship Owners Association (UAESOA) at that body's second AGM in Dubai.
The UAE ship owners discussed a number of topics in which they have a common interest. Of major concern to the ship owners were banks which were taking advantage of the very poor shipping markets by imposing unfair demands and increasing lending margins. The UAE ship owners agreed to share information about banks which impose unreasonable conditions on shipping loans and collectively take action against those banks. The UAE ship owners will also share information about charterers that default or do not live up to their obligations in charter parties.Read More
The UAE ship owners discussed a number of topics in which they have a common interest. Of major concern to the ship owners were banks which were taking advantage of the very poor shipping markets by imposing unfair demands and increasing lending margins. The UAE ship owners agreed to share information about banks which impose unreasonable conditions on shipping loans and collectively take action against those banks. The UAE ship owners will also share information about charterers that default or do not live up to their obligations in charter parties.
Sawu Sea now part of Indonesia’s water conservation programme
A3.5 million hectare sea in eastern Indonesia will be included as part of the country’s plans for a water conservation programme.
The water conservation plan, announced by Indonesia at an international conference staged in Brazil in March 2006, aims to eventually encompass a total of ten million hectares by 2010, and double that by 2020.The Sawu Sea, located off East Nusa Tenggara Province, has now been incorporated into Indonesia’s National Water Conservation Area, effectively helping the country meet its vast goal.Read More
The water conservation plan, announced by Indonesia at an international conference staged in Brazil in March 2006, aims to eventually encompass a total of ten million hectares by 2010, and double that by 2020.The Sawu Sea, located off East Nusa Tenggara Province, has now been incorporated into Indonesia’s National Water Conservation Area, effectively helping the country meet its vast goal.
Transas NavCom Package for Kugelbake
Transas Marine GmbH reported the completed supply of the full navigational and communication systems set to a newbuild RoRo vessel for Wulf Seetransporte GmbH & Co. KG, Cuxhaven.
Transas delivered a full set of radio-navigational equipment including dual Navi-Sailor 4000 MFD ECDIS, two Navi-Radar 4000 MFD X-band, all navigation sensors, Gyro and steering system and GMDSS A2 equipments, all supplied and commissioned turn-key ready. The 262.5 ft RoRo vessel has been named as MV Kugelbake and was constructed at BVT Bremen shipyard. The ship is designed especially to provide transportation of sections and parts of Airbus A380 aircraft from the remote production places in Bremen to the Airbus site in Hamburg. It also may be used as a supply vessel for offshore wind parks.Read More
Transas delivered a full set of radio-navigational equipment including dual Navi-Sailor 4000 MFD ECDIS, two Navi-Radar 4000 MFD X-band, all navigation sensors, Gyro and steering system and GMDSS A2 equipments, all supplied and commissioned turn-key ready. The 262.5 ft RoRo vessel has been named as MV Kugelbake and was constructed at BVT Bremen shipyard. The ship is designed especially to provide transportation of sections and parts of Airbus A380 aircraft from the remote production places in Bremen to the Airbus site in Hamburg. It also may be used as a supply vessel for offshore wind parks.
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