zoomIllustration; Image Courtesy: Hapag-Lloyd German container shipping line Hapag-Lloyd delivered improved earnings in the period ended September 30, 2018, amid a recovery of freight rates and a significant increase in transport volume.For the third quarter of the year, the company witnessed a significant improvement in its net profit, which reached EUR 113.4 million, compared to EUR 51.8 million reported in the same period of 2017.Revenues for the third quarter was also up at EUR 3.03 billion, against EUR 2.79 billion seen a year earlier.For the first nine months of 2018, the company’s net profit reached EUR 12.5 million, being roughly on a par with EUR 9.1 million as seen in the nine-month result of 2017, while revenues stood at EUR 8.4 billion, rising from EUR 7.3 billion.Contributing to this development in revenues was a 27 percent increase in transport volume, which rose to 8,900 TTEU in the nine-month period from 7,029 TTEU seen in the corresponding period a year earlier. Hapag-Lloyd said that this increase resulted from the merger with United Arab Shipping Company Ltd. (UASC).The average freight rate decreased to 1,032 USD/TEU, which is below the prior-year level of 1,068 USD/TEU. On a pro forma basis and when compared to the combined business of Hapag-Lloyd and UASC in the nine-month period, the transport volume is up 5.5 percent and the average freight rate is up 1.4 percent.“Higher transport volumes, a better utilisation of our ships and the synergies from the recent merger with UASC have enabled us to partially offset rising operational costs. In addition, the average freight rate improved during the peak season in important trades,” Rolf Habben Jansen, CEO of Hapag-Lloyd.“Despite the persistent upwards pressure on the operational costs in various parts of our business, we remain cautiously optimistic for the rest of the year,” he added.The company informed that the developments in fuel costs and freight rates are in line with the forecast for 2018 as a whole, which was adjusted in late June 2018.“This forecast remains unchanged and lies within a range of EUR 200 to 450 million for the EBIT and within a target corridor of EUR 900 to 1,150 million for the EBITDA. Based on the positive development we have seen in the third quarter of 2018, EBIT and EBITDA are expected to be in the upper part of these ranges for the 2018 full financial year.”
New Delhi: The Delhi government wants to provide respite to people from steeply hiked penalties under the amended Motor Vehicle Act and will take a “conscious” decision on it, Transport Minister Kailash Gahlot said on Wednesday.He, however, clarified the Delhi government is not mulling to “dilute” the hiked penalties as of now. The government is taking feedback from the stakeholders and looking at how other states are moving on it. It will soon take a “conscious” call on it, Gahlot said at a press conference. Also Read – After eight years, businessman arrested for kidnap & murderTo a question on hiked penalties, the minister said, “The government wants to give respite (to the people). But, the areas where the (Delhi) government has powers have to be examined. The Motor Vehicles Act comes under the Central list and if the Union government makes any amendment, it prevails over the powers of the state.” “Though state governments have certain discretionary powers to ease the penalties with respect to certain offences as per the new Motor Vehicles Act, as of now the Delhi government is not mulling to dilute them since the stringent measures are meant to ensure road safety,” the minister said in a statement. Also Read – Two brothers held for snatchingsHe said road safety is a major concern for the Delhi government and it is very serious about the issue. “We are closely observing the initiatives of other states as well as consulting with various stakeholders. At any stage, if the Delhi government is convinced about reducing penalties for certain offences, we will do the needful,” Gahlot said. There are around 61 offences under the amended Act, out of which 27 are those on which state governments have no say. However, in the case of the remaining 34 compoundable offences, the state governments can exercise their discretion, he said. The Delhi transport minister said his department has taken several measures to meet the heavy rush for obtaining pollution under check (PUC) certificates. “The capacity of the server has been enhanced from today so that it can process over 6,000 applications for PUC certificates each which was around 3,200 per hour earlier,” Gahlot said. The PUC centres at Delhi Transport Corporation (DTC) depots and terminals have been kept open from 11 am till 7 pm, for catering to private vehicles. The transport department will also invite applications for opening new PUC centres. The number of PUC centres in the national capital now is 940, he said. According to an official, after the amended Motor Vehicles Act come into force on September 1, each day on an average 50,000 vehicles undergo the test for a certificate of meeting emission and pollution control norms now, against 10,000 to 12,000 vehicles visiting the test centres before the amended law, which hiked the penalty, came into force. Civil Defence volunteers will be deployed at the PUC centres for crowd management and the Delhi government is keeping a tab on the these facilities so that they do not indulge in any malpractice like overcharging the vehicle owners, Gahlot said, adding two centres have been suspended for malpractices. The number of vehicles in the city is over 1.10 crore, out of which 70 lakh ply on the city roads. Non BS-IV compliant vehicles need to get a PUC certificate after every three months, while BS-IV standard ones require it every year.