Printable version
Newsletter
sign up
Lundh’s chemical coup
Swedish shipbroker races to cash in on management of small Turkish chemical tankers built on spec during the market boom.
Log-In logs 2009 loss
Log-In Logistica Intermodal posted a loss in 2009 as a massive decline in foreign trade ripped the bottom line.
Log-In's Terminal de Vila Velha.
The Brazilian boxship player reported a net loss of BRL 6.6m ($3.7m) for the year, compared to a gain of BRL 83.3m ($37m) in 2008, according to a release issued Thursday.
Net operating revenues slid by 4% to BRL 426.4m ($241m) from BRL 443.9m ($250.9m) in the year prior.
Log-In’s chief executive Mauro Dias said Brazil’s foreign trade flow fell by 24.4% in 2009, partly due to a drop in bilateral trade between Brazil and Argentina, thus impacting the cargo volume handled by the company’s terminal and coastwise shipping divisions.
Last year, automatic import licenses for Brazilian products sold in Argentina were suspended. This caused a 27.4% drop in exports of Brazilian products and a 14.9% decrease in imports of Argentinean products compared to the year before.
As TradeWinds has reported, Log-In moved more than 363,000 teu during 2009, an 18.9% drop compared to 2008.
Rio de Janeiro-based Log-In Logistica operates seven containerships and multipurpose ships, in addition to a railroad and a marine terminal.
Latest News
RLOG on the up
Great Lakes bulker specialist predicts another profitable year as expanded fleet lifts bottom line.
Full circle for finance man
Investment banker Kevin O'Hara has rejoined New York boutique firm AMA Capital Partners after seven years.
Iran facing shipping squeeze
Trade dwindling as Maersk and Hapag-Lloyd among those pulling out due to US and EU sanctions.
Strike three for Saverys
Shipowner Marc Saverys continues to sell off stock in shipbroker Clarksons.
DSX plays down Daelim drama
Cargill steps in as South Korean charterer coughs up cash to cover early return of bulker to US-listed owner.
Tough end for ASL Marine
Singapore-listed offshore company sees revenue and earnings sliced by a quarter in the final period of 2011.
Dividend chop just the start
Axing of shareholder payouts at OSG may need to be accompanied by asset sales, analyst says.
Peel plots post-panamax port
Port of Liverpool owner ready to spend £250m on new containership facility at Seaforth.
Seabird swoops on contract
Oslo-listed seismic outfit eases financial troubles with award of $13m deal.
GE earnings cut
Weaker bulker markets in third quarter sees Indian owner's profit chopped, but tankers improve.
BLT has some backing
Creditors are being supportive of Indonesian owner’s restructuring efforts, says Kevin Wong.
Latest Ports
Top Jobs
Latest Positions
- $ 1,050,000