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BEIJING, Sept. 8, 2023 /PRNewswire/ -- The Fifth "Silk Road Maritime" International Cooperation Forum kicked off on Thursday in Xiamen, East China's Fujian Province, drawing more than 1,000 representatives from domestic and international enterprises in the maritime transport sector and related industries, aiming to further upgrade the global transport network. Chen Zhiping, chairman of Fujian Provincial Port Group Co, told the Global Times during a press conference that "Silk Road Maritime" has developed 116 sea lines to reach 131 ports in 43 countries. The "Silk Road Maritime," an international shipping association, was founded in December 2018. The number of members has reached 317 from various fields such as ports, maritime transport, services, production, retail and wholesale along the industry chain. "By the end of August, more than 12,096 freight vessels had operated along the sea routes under the 'Silk Road Maritime,' transporting more than 14 million standard containers worldwide," said Chen. Malik Adams, a representative from the Ghana Ports and Harbour Authority, told the Global Times on Thursday that Ghana, the first member of the "Silk Road Maritime" in Africa, is a major player in ports and shipping in West Africa, and cooperation with the "Silk Road Maritime" had enhanced Ghana's connections with international organizations. Malik stressed that cooperation with Chinese companies has huge potential. "We believe that the initiative 'Silk Road Maritime' will encourage other African countries to join and serve our people," he noted. In terms of green development, Karim Fahssis, representative of international shipping company Maersk, said that China's abundant resources, technology and sophisticated industry chain will largely benefit Maersk's low-carbon development strategy as well as China's master plan of carbon reduction. During the two-day forum, attendees will discuss topics in four keynote sub-sessions, exchanging points of view on how to boost the development of the global shipping industry as a whole.
YANCHENG, China, Sept. 8, 2023 /PRNewswire/ -- The 2023 World Coastal Forum will be held in Yancheng from September 25 to 27, aiming to create a global cooperation platform in the field of coastal ecology with clear orientation, diversified participation, strong actions and rich products, according to the Information Office of Yancheng Municipal People's Government. The World Coastal Forum originated from the Yellow (Bo) Sea Wetland International Conference, which has been held for four consecutive sessions in Yancheng. With the theme of "Our Coasts: Green and Low-carbon Development", the conference will hold four themed forums and more than 10 special seminars. Yancheng has the largest coastal wetland on the west coast of the Pacific Ocean, the largest coastal wetland on the edge of the Asian continent, and the vast lake wetland in the Lixia River area. Yancheng has two international business cards of "World Natural Heritage" and "International Wetland City". In recent years, Yancheng has actively practiced the concept of "Lucid waters and lush mountains are invaluable assets", planted a solid ecological foundation, and painted a new picture of the harmonious coexistence between man and nature, providing a copyable and scalable Yancheng Plan for global coastal ecological protection and restoration. During the continuous protection of rare and endangered wild animals and plants in the wild, habitat protection and restoration, Yancheng observed the successful natural reproduction of wild red-crowned cranes for seven consecutive years. The milu deer population in the protection area reached 7,840, including 3,356 in the wild. The current Yancheng is deeply participating in international ecological governance dialogue and cooperation, advocating and building an ecological economic circle around the Yellow Sea, and carrying out pragmatic cooperation in ecological mutual learning and economic integration. From assisting the protection of migratory birds, to holding the World Coastal Forum, to promoting the application of the Yellow (Bo) Sea region for World Natural Heritage, and preparing for the establishment of the World Coastal Wetland Cities Alliance, Yancheng actively builds an exchange and cooperation platform for coastal wetland cities around the world, creating an "ecological environment" "Circle of friends", gathering global wisdom, conspiring with poetry and distance.
REYKJAVIK, Iceland, Sept. 8, 2023 /PRNewswire/ -- From the desk of MyntNews. With its historical involvement in commercial whaling, Iceland is witnessing a significant transformation in its approach, driven by concerns about the welfare of whale populations and the country's global reputation. Today, the spotlight is shifting towards sustainable and responsible whale watching, championed by companies like Sea Trips Reykjavík. Iceland, famously known as the land of fire and ice, is renowned for its awe-inspiring landscapes and unique wildlife, notably its majestic whales. These gentle giants have fascinated nature enthusiasts for generations, but the ethical considerations surrounding whaling have long stirred controversy. Sea Trips Reykjavík: Setting the Standard for Ethical Whale Watching Sea Trips Reykjavík distinguishes itself in the realm of whale watching by its unwavering commitment to safety and environmental conservation. Here's how they are leading the way: Expert Guides: Sea Trips Reykjavík boasts a team of knowledgeable and passionate guides with extensive expertise in marine life. They provide guests with invaluable insights into whales and their natural habitat, ensuring an enlightening and educational experience. Small Group Tours: To minimize disruption to the whales and maximize the quality of the encounter for guests, Sea Trips Reykjavík offers small group tours. This intimate setting allows you to get up close and personal with these magnificent creatures while preserving their tranquility. Eco-Friendly Boats: Operating with a strong commitment to environmental responsibility, Sea Trips Reykjavík utilizes eco-friendly boats designed to have minimal impact on the environment. These vessels are equipped with low-emission engines and strictly adhere to emission regulations. Safety as a Priority: Sea Trips Reykjavík places paramount importance on guest safety. They adhere to stringent safety protocols to ensure that every guest enjoys a worry-free and secure experience. Why Choose Sea Trips Reykjavík for Your Whale Watching Adventure By selecting Sea Trips Reykjavík for your whale watching adventure in Iceland, you're not only witnessing the awe-inspiring beauty of these marine giants but actively contributing to their conservation. Rest assured that your tour with Sea Trips Reykjavík is ethical, sustainable, and leaves a positive impact on the environment. Whether you're a passionate nature enthusiast, a family seeking an unforgettable experience, or a conscientious traveler, Sea Trips Reykjavík offers the perfect opportunity to witness the wonders of Icelandic wildlife while making a meaningful difference. Join Sea Trips Reykjavík on an Adventure of a Lifetime Embark on an adventure that seamlessly combines excitement, education, and environmental responsibility with Sea Trips Reykjavík. Book your whale watching tour today and become an advocate for the conservation of these magnificent marine giants against the breathtaking backdrop of Iceland's pristine waters. Get in Touch with Us Reach out to us today, and let's start planning your ethical whale watching adventure. Join Sea Trips Reykjavík on an adventure that combines excitement, education, and environmental responsibility. Your story with these magnificent marine giants in Iceland's pristine waters begins here! Web: seatrips.isEmail: seatrips@seatrips.isPhone: +354 779 8988Instagram: Sea Trips ReykjavikFacebook: Sea Trips Reykjavik
SINGAPORE, Sept. 7, 2023 /PRNewswire/ -- OTOM Services, a total solution provider for the oilfield, marine, and petrochemical industries, is excited to announce its latest collaboration as an authorised distributor for Rocol products. Rocol, a part of ITW, is a regional leader in industrial lubricants and line marking systems, with robust quality management systems that ensure the highest standards of excellence. This partnership with Rocol marks a significant step forward for OTOM Services in expanding its portfolio to provide customers with top-tier lubrication and maintenance solutions. Some of the standout products in Rocol's lineup include: Rocol Wire Rope DressingFor high-load gearbox grease to ropes operating in marine and other arduous environmental conditions such as hoists, draglines, cranes, ships, and ship hoists. Designed with precision, the highly adhesive dressing addresses the challenge of fling-offs and sling-offs, providing thorough lubrication to every wire strand, including hard-to-reach areas within the core of the rope. This solution safeguards critical assets against wear and tear, significantly extending equipment lifespan even in the most demanding environments. Key features include: Excellent internal and external lubrication Protects against wear on guides and sheaves Outstanding internal and external corrosion protection Suitable for all non-friction drive wire ropes Resistant to seawater Approved to NATO and Naval Standards Rocol Biogen TuflubeFor Jacking Systems, Open Gears, Rollers, Slew Rings, Cantilevers, Pins, Booms, Winches, Joints, Couplings, Penstocks, Sluice Gates, Winding Gears and more. A self-repairing eco-grease that thrives in extreme conditions including marine environments. This grease is formulated to withstand corrosion and wear, making it an essential choice for safeguarding slow-moving heavy machinery. Its biodegradable composition adds an eco-conscious dimension to its effectiveness. It can handle: Extreme Pressure: Unique additive package protects against metal wear. Extreme Corrosion Protection: Physical and chemical protection against pitting and corrosion. Extreme Adhesion: Blend of Hi-Tac boosters ensures staying power even when submerged. Extreme Temperatures: Ideal for use in the hottest and coldest global climates. Extreme Versatility: Apply by hand or automatic pumping equipment. HOCNF Classification 'E': Permitted for use in the North Sea. "We are thrilled to become an authorised distributor for Rocol products," affirmed James Chung, CEO of OTOM Services. "This partnership helps us further enhance our commitment to providing our clients with reliable, long-term, and cost-effective solutions for their machinery maintenance needs. Rocol's cutting-edge products perfectly complement our safety solutions and equipment offerings for the oilfield, marine, and petrochemical sectors." With a comprehensive range of products, Rocol is well-equipped to serve a variety of industries, including marine, offshore, and freshwater environments. From wire rope dressings to eco-greases, Rocol's solutions epitomise innovation, durability, and environmental responsibility. To find out more about OTOM Services and their solutions, check out their website at https://otom-services.com/. About OTOM Services OTOM Services is a total solution provider for all oilfield, marine and petrol-chemical customers, dedicated to delivering excellence and innovation in the industry. Apart from their comprehensive catalogue of products, they offer tubing services, hot oil flushing, valve servicing, logistics and warehousing as well as electric services.
SINGAPORE, Aug. 29, 2023 /PRNewswire/ -- Caravelle International Group (Nasdaq: CACO), a global ocean technology company, today announced that it has received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), confirming that the Company has regained compliance with Nasdaq's filing requirement set forth in Listing Rule 5250(c)(1). As previously reported, the Company received a deficiency notice from Nasdaq on May 10, 2023, due to the delay in filing its Annual Report on Form 20-F for the fiscal year ended October 31, 2022. The Company was granted an extension until August 28, 2023, to file its Form 20-F and regain compliance. On August 28, 2023, the Company filed its Form 20-F and has now regained compliance with this Nasdaq's filing requirement. The Company wishes to thank its investors for their continued patience and support during this period. The management remains committed to maintaining the highest standards of corporate governance and transparency. About Caravelle International Group Caravelle is a global ocean technology company. Its business comprises of two sectors: the traditional business in international shipping, operated by the Topsheen Companies (Topsheen Shipping Group Corporation (Samoa) and its subsidiaries) and the new CO-Tech business under Singapore Garden Technology Pte. Ltd. As the traditional business, Caravelle's international shipping business has generated all revenues. The CO-Tech business is a new development building upon the existing shipping business. It enables wood desiccation during the maritime shipping process, with full utilization of the shipping time, space, and the waste heat of exhaust gas from the shipping vessels. Caravelle's CO-Tech industry has no historical operations and has not generated revenue. Caravelle is headquartered in Singapore. Forward Looking Statements This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended October 31, 2022. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Audited revenue for 2022 of $185.3 million, up from $122.0 million in 2021, marking a 51.9% growth. Caravelle earned $12.2 million in 2022 vs. $5.3 million in 2021. Earnings per share were $0.24 for 2022 vs. $0.11 in 2021, highlighting an increase of 118.2%. SINGAPORE, Aug. 29, 2023 /PRNewswire/ -- Caravelle International Group (Nasdaq: CACO), a global ocean technology company, today announced audited financials for its fiscal year ended October 31, 2022. The figures underscore a strong financial performance with revenue of $185.3 million for 2022, marking a growth rate of 51.9% over the previous year. The company's net income also showcased significant growth, with earnings of $12.2 million in 2022, up from $5.3 million in 2021, marking a substantial increase of 130.4%. Earnings per share for the year stood at $0.24, representing growth of 118.2% from the $0.11 reported in 2021. The gross margin improved, rising from 10.6% in 2021 to 14.5% in 2022. Additionally, Caravelle's operating margin saw growth, reaching 12.7% in 2022 compared to 8.6% in the previous year. "Despite the great performance in fiscal 2022, the global shipping industry is facing challenges in 2023," remarked Caravelle's CEO Dr. Zhang. "However, we are optimistic about the future. Later this year Caravelle anticipates launching its CO-Tech wood drying in transit and commencing the export of wood products from Gabon, Africa into the U.S. duty-free. Both new ventures are valued as profitable opportunities and are expected to grow at a very fast rate. We expect these high-margin opportunities to more than offset any continued weakness in our shipping business." Caravelle ended the year with a strong balance sheet, including $21.6 million in cash, as compared to $10.4 million at the end of 2021. Additionally, the company reported net cash inflow from operations of $33.1 million in 2022, a significant increase from the $0.6 million reported in 2021. A more detailed version of the Company's audited 2022 financial results can be found in its form 20-F annual report filed with the SEC, available at EDGAR Entity Landing Page (sec.gov) About Caravelle International Group Caravelle is a global ocean technology company. Its business comprises of two sectors: the traditional business in international shipping, operated by the Topsheen Companies (Topsheen Shipping Group Corporation (Samoa) and its subsidiaries) and the new CO-Tech business under Singapore Garden Technology Pte. Ltd. As the traditional business, Caravelle's international shipping business has generated all revenues. The CO-Tech business is a new development building upon the existing shipping business. It enables wood desiccation during the maritime shipping process, with full utilization of the shipping time, space, and the waste heat of exhaust gas from the shipping vessels. Caravelle's CO-Tech industry has no historical operations and has not generated revenue. Caravelle is headquartered in Singapore. Forward Looking Statements This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended October 31, 2022. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Maritime/Shipbuilding
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