10 BULKDISTRIBUTOR
Tank Containers
May/June 2013
Trading conditions remain uncertain, says InterBulk F
or the six months to 31 March 2013 InterBulk reported that the liquid bulk division (tank containers) saw low activity levels in the first quarter followed by a marked improvement in the second quarter. The uptick was a result of a more positive environment for the chemical sector in the USA, Middle East and China. In the group’s final results announcement released in December 2012, InterBulk explained that margins have been under pressure from lower than normal utilisation due to fleet expansions made by many operators in 2011 and regional competitors entering the global market. However, the group said utilisation is now slowly recovering and it believes this will eventually lead to margin recovery in the sector. In the 2012 final results announcement, it also noted that economic recovery in Europe had suffered new setbacks and uncertainty remained ahead. Since then, forecasts for European economic growth have been successively revised downwards. InterBulk’s dry bulk business, which is predominantly based in Europe, has been affected mainly by weak trading conditions and temporary plant shutdowns in the European polymer industry. Overall, for the six months to 31 March 2013 while revenue was expected to be slightly down, operating profit would be materially below the comparable period in 2012. Interest savings of approximately £1 million have been secured in the first half-year
from a combination of the October 2012 refinancing and the February 2013 syndication to Rabobank which partially mitigated the operating profit effect. The full impact of the interest cost savings should be achieved in the second half of the year. The group believes it will have a stronger second half to the year with improved utilisation despite global economic uncertainty remaining high and impacting customer confidence. It is taking action in response to these external factors and focusing in particular on efficiency and cost. However, InterBulk does not expect to be able to compensate fully the lower first half operating profitability. The combination of anticipated improved operating profitability in the second half of the year with the continuing interest cost saving is expected to result in improved profit before tax compared to the first half of the year. Chief executive Koert van Wissen, commented: “Trading has been impacted by weak demand in Europe and also specific plant situations within the polymer market which are difficult to mitigate in the short term. While external market conditions remain fragile and unpredictable, there has been an improvement in the second quarter, and with continued focus on our controllable costs we expect to deliver an improved second half performance.” However, InterBulk has acquired new tank containers bringing its total fleet to some 10,000. At the same time the group has obtained
at 22 ic us 1/3 ist sit 2 og Vi d 2 rt L ch an o ni st nsp Mu a Tr
Software Solutions to improve the profitability of your tank fleet
InterBulk has now refurbished 2,350 dry freight containers
bonded warehouse status for its Duisburg, Germany terminal. A bonded warehouse is a building or other secure area where dutiable goods may be stored or handled, or where they undergo manufacturing operations without duty having to be paid on them. Normally, when goods are imported into the free movement zone of the European Union, value added tax (VAT) and Customs duties should be paid before the goods can be stored, waiting to be sold. However, it is also possible to store the goods in a customs bonded warehouse, so the payment of duty/VAT can be postponed indefinitely. In this case, import Customs duties and VAT only need to be paid when the goods are actually imported into the free movement zone of the EU. The group also announced that 2,350 of its dry freight containers have now been refurbished since last year as part of its on-going refurbishment programme. In addition to aesthetic improvements, the boxes have been targeted for key design modifications. All containers are subject to a CSC inspection every 30 months. In addition InterBulk operates an ACEP inspection program and all containers are subject to an in-house inspection regime.
Operators course set for Shanghai
Operating Software
Quotations • Orders • Documentation • Planning Tool • Purchase Invoices • Sales Invoices • Financial/Prot Control • Maintenance & Repairs • Customer & Vendor Tariffs • Tender Response Tool • EDI • Agent Access • Enquiries & Reports • Business Discovery
Leasing Software www.ramintermodal.com info@ramintermodal.com
Work Orders • Billing • Contract Management • On-Hire & Off-Hire • Sales Orders • Investor Reporting • Enquiries & Fleet Management • Depot & Vendor Cost Management • EDI • Maintenance & Repairs • Business Discovery
New Alchemy Tank Container Operators Course returns to Shanghai
T
he New Alchemy Tank Container Operators Course will be returning to Shanghai in week 28, week commencing 8 July 2013 at the Novotel Atlantis Hotel, 728 Pu Dong Avenue, 200120 Shanghai. The five-day course, specially designed for tank container operators, now in its 27th year is presented in Shanghai for the fifth time due to high demand. There are two co-sponsors: Seatones Maritime Academy and New Alchemy. Led by Roy Boneham, with experience in tank containers going back to the 1970s, this course examines dangerous goods regulations, the classification of chemicals, design and construction of tanks and finally operating requirements whereby the previous parts of the course are all brought together. The working language of the course will be English and costs RMB14000/US$2,255. An earlybird discount of 5 percent may be claimed by trainees registering by the beginning of week 24, 2013. A further 15 percent is also gained by trainees who bring with them their own 2012 edition of the two-volume IMDG Code, although it must be the latest edition of the Code. Please email applications to rboneham@premiumuk.com