Sea Containers Ltd. has completed the sale of Newhaven Marina, West Quay and Railway Quay in Newhaven, East Sussex, England to Oakdene Homes PLC for $20.7 million (GBP11.25 million) in cash. Sea Containers will report a profit on the transaction of $10.4 million in the fourth quarter of 2005 and proceeds from the sale will be used to reduce company debt. Sea Containers has now sold almost all of its port property interests in the UK and the sale forms part of Sea Containers' ongoing strategy to focus on its core businesses.
Marine transport company Sea Containers Ltd. posted a fourth-quarter loss, versus a profit a year earlier, citing a bigger fuel bill and a drop in demand for container rentals. The company posted a net loss of $15.8 million, or 85 cents per share, compared with a profit of $8.0 million, or 43 cents per share, a year earlier. Shares of Sea Containers closed on Tuesday at $19.90 on the New York stock Exchange, above a 52-week low of $18.50 and off a year high of $29.69. - (Reuters)
Sea Containers has sold the Isle of Man Steam Packet Company to Montagu Private Equity Limited for $233 million, with effect on June 30, 2003. The profit on this transaction will be $100 million, however, the company has decided to establish provisions for the restructuring of its fast ferry business and to reduce the carrying value of certain assets to current market value. Total provisions will be approx. $40 million.
Sea Containers introduced the Ancona, Italy to Split, Croatia route operated by its joint venture with SNAV, a subsidiary of the Mediterranean Shipping Company. The seasonal service, which started in 2000 and has carried nearly 75,000 passengers and 15,000 vehicles to date, has proved so popular that a larger craft is needed. The high speed catamaran Felix which was built in 1996 and previously operated between Spain and Morocco, will appear in the now familiar Croazia Jet livery
Sea Containers celebrates the Diamond Jubilee by displaying the largest ever photograph of the Royal Family Sea Containers, by Blackfriars Bridge, was covered with the giant picture measuring 100m by 70m and weighing in at nearly two tons. The image was erected by a team of eight people over 45 hours. It is due to remain in place until the end of June. The 'Sea Containers' building was originally built as a hotel in the mid 1970's but opened instead as offices
Finland's Actiw Oy contracted to supply 14 automated container loading systems that speed up containerization of palletised goods The contrat is with Tecnimont SpA, main EPC subsidiary of the Maire Tecnimont Group, Italy, for delivery to an end customer in the petrochemical industry in the United Arab Emirates. The system is the first of its kind where product pallets coming from palletizing lines are fully automatically transferred and loaded into standard sea containers
U.S. Customs Commissioner Robert C. Bonner announced the publication of final Customs regulations requiring sea carriers to provide cargo manifests 24 hours prior to the lading of cargo at foreign ports for shipment to the United States. This information is required in advance to enable U.S. Customs to evaluate the terrorist risk of cargo containers. "Terrorist organizations pose an immediate and substantial threat to the global trading system
According to an Asbury Park Press report, the parent company of SeaStreak is putting the ferry business up for sale and closing its route between South Amboy and Manhattan. SeaStreak's Monmouth County routes between Highlands and Manhattan and Atlantic Highlands and Manhattan will continue. High fuel costs have hit SeaStreak hard, according to the report. The company is expected to lose $2.7 million this year, including a $1.3 million loss on the South Amboy route.
Maurice Storey, the former Chief Executive of the U.K. Maritime & Coastguard Agency (MCA), is to become Chairman of Evergreen Group’s U.K. affiliate Hatsu Marine Ltd., effective December 1, 2003, while Jason Lin continues as president of Hatsu Marine Ltd. Established in January 2002, Hatsu has its headquarters in London and currently owns a fleet of seven new U.K.-flag container vessels including five 6,332-teu ships currently operating in the transpacific trades
U.K. inland container service operator Pentalver opened a new five-acre site at the U.K.’s newest deep sea container port, DP World London Gateway, the London Port Authority announced. Plans for the site – which will be built in two phases – were revealed in January and position Pentalver as the largest container service operator at the port. The new yard, located adjacent to the port’s main gate, can be expanded to nine acres over the coming years.
Peel Ports has been recognised for its commitment to environmental stewardship in the delivery of its Manchester Ship Canal project by the prestigious and historic Carmen Awards. The awards, which honour exceptional achievement in industry and individual enterprise
DP World Group Chairman and CEO HE Sultan Ahmed bin Sulayem recently met the President of France, Francois Hollande and senior government and business leaders at a major investment summit at the Élysée Palace in Paris. France’s attractiveness as an investment location and DP
France is an attractive investment location for DP World’s projects related to infrastructure development, port centric development, distribution and export hubs, rail freight, customs, and other logistics topics, said DP World Group Chairman and CEO Sultan Ahmed bin Sulayem.
The Danish Maritime Authority has – in cooperation with a number of business organisations – drawn up three short guidelines on the regulations on the determination of the weight of packed sea containers. In February, the Danish Maritime Authority informed about future regulations
Shanghai-listed Shanghai International Port Group (SIPG) is currently considering acquiring part of the equity stakes in Shanghai Jinjiang Shipping, a container shipping company mainly engaged in China-Japan routes, as part of the group’s comprehensive development strategy.
Will the prestigious TransAtlantic speed and endurance record ever be broken? Should it? Twenty five years ago headlines around the world announced a new world record, the fastest crossing of the Atlantic Ocean, by a ship built in Australia.
Shanghai International Port Group Co (SIPG) is all set to acquire 79.2% stake in intra-Asia container line Shanghai Jinjiang Shipping for up to RMB1.94bn ($312.58m). SIPG plans to buy a 48% stake in Jinjang Shipping currently owned by Shanghai International Group, as well as a 31
Kalmar, part of Cargotec, has announced a contract to supply Immingham Container Terminal in the UK with four Kalmar Gloria reachstackers equipped with new Kalmar K-Motion technology. The units are part of a significant investment by Associated British Ports (ABP)
DP World Limited announces that it has agreed with Associated British Ports (ABP) to extend the license agreement for DP World Southampton for a further 25 years until 2047. Simultaneously, DP World announces that it has acquired the remaining 49% stake in DP World Southampton
DP World London Gateway and UPS today announced plans to build a new 32,000 square metre package sorting and delivery facility at the logistics site in the south east of England. At close to £120 Million, the project is one of UPS’s largest infrastructure investments outside of
Containership reliability took a small step backwards in October as the average on-time performance across all trades reached 77.9%, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.
The biggest container ship in the world, the MSC Maya, made its maiden call at Southampton on Tuesday 15 December. The 395.4m vessel, which can carry a world-leading 19,224 containers, is just the latest giant container vessel to call at the port in recent weeks.
James Leeson starts in role at the UK’s newest deep-sea container port, with Tabare Dominguez promoted to role in Vancouver DP World London Gateway Port has appointed James Leeson to the role of Head of Port Commercial following the announcement that Tabare Dominguez is to become
U.K. Shipping Minister Robert Goodwill MP has welcomed the investment being made by Peel Ports during a March 10 visit to the company’s Liverpool2 container terminal. Upon opening later this year, Liverpool2 will become one of Europe’s most modern and advanced
UK Shipping Minister Robert Goodwill MP has formally opened a new ‘Maritime Knowledge Hub’ in Wirral, UK, jointly operated by Mersey Maritime and Liverpool John Moores University. Operated jointly by sector development organisation Mersey Maritime and Liverpool John