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Asian Port News

29 Aug 2016

Advent Hires Banks to Sell Control of Brazil Port

Buyout firm Advent International Corp has hired Morgan Stanley & Co and Grupo BTG Pactual SA to advise on the sale of a controlling stake in TCP Terminal de Contêineres de Paranaguá SA, Brazil's second-busiest container port, according to two people with direct knowledge of the plans. Earlier this year, Boston-based Advent had announced plans to sell the 50 percent stake it has in TCP, which can handle about 1.5 million tonnes of cargo containers annually. BTG Pactual joined Morgan Stanley as advisor to Advent at the start of July, the people said. The sources, who spoke with Reuters in recent days, asked for anonymity because the plan remained confidential.

30 Jul 2016

Moody's: Challenges Ahead for Asian Port Operators

Moody's Investors Service says lackluster global growth, weak commodity prices, high capital expenditure commitments and a liner industry struggling with overcapacity is testing the resilience of Asian port operators. "While the rated port operators in Asia have scope for cost cuts and are generally supported by their dominant market position, their resilience is being tested by these challenging operating conditions," says Ray Tay, a Moody's Vice President and Senior Analyst. Moody's conclusions are contained in its just-released report, entitled "Rated Port Operators -- Asia: Challenges on the Rise". The port operators in the region are grappling with slowing or negative growth in cargo volumes due to China's (Aa3 negative) slowdown…

13 Jan 2016

Time to Expand Lanka Port, Says Maersk

Boosting Sri Lanka’s international investment profile, the world’s largest shipper Maersk Line is moving for Sri Lanka entry. The Danish multinational Maersk Line has been the world’s largest container shipping company since 1996. It operates 604 container vessels across the world and calls on 343 ports in 121 countries. New Delhi based Danish Ambassador for Sri Lanka Peter Taksøe-Jensen revealed the Maersk Line's breakthrough entry plans for Sri Lanka when he paid a courtesy call on Sri Lankan Minister of Industry and Commerce Rishad Bathiudeen. He was joined by the Leading Lankan Businessman and Danish Honorary Consul General in Colombo Harold (Harry) Jayawardena and a visiting New Delhi based Danish embassy official.

22 May 2015

DP World Extends Title Sponsorship Until 2020

Dubai is set to remain at the epicenter of golf on The European Tour for the foreseeable future after global port operator DP World announced today that it will continue to be the title sponsor of the DP World Tour Championship, the season ending tournament of The Race to Dubai, for at least another five years. The move reinforces Dubai’s position as a major trading, business and tourism destination. The agreement, which will run until at least the 2020 season, will see DP World support the US$8 million tournament, in addition to the company’s existing sponsorship of European Tour events in India, Hong Kong, China, Turkey and at this week’s BMW PGA Championship in England.

27 Aug 2013

IBIA Sends Bunker Wake-up Call to South Africa

The International Bunker Industry Association (IBIA) has called on the South African government to realise the potential of the ship refuelling market in its ports and the impact this will have in supporting regeneration. Speaking at the recent African Ports Evolution conference in Cape Town, IBIA chief executive Peter Hall told delegates that whilst more than double the number of vessels move around the Cape of Good Hope than transit the Straits of Gibraltar, the South African bunkering market has declined whilst Gibraltar’s continues to grow. Last year around 600 ships a day moved around South Africa, whilst the volume of bunkers sold in Durban hit a twenty year low with 1.1m tonnes traded in 2012.

08 Jan 2013

'Get to High Ground' Tsunami Warning Contract

LRAD Corporation. provider of long range acoustic hailing devices (AHD's) wins Tsunami warning contract from an Asian city port. The company has received a US$369,000 LRAD 360X order for an earthquake and tsunami warning mass notification installation in an Asian port city. The order resulted from an earlier successful trial installation. The LRAD 360X is the newest system in the Company's proprietary Long Range Acoustic Device® (LRAD®) product line. The LRAD 360X broadcasts powerful emergency/warning sirens and highly intelligible multi-language voice messages in a 360° pattern over distances up to 2 miles. The LRAD 360X is modular enabling customization of the broadcast area and mass notification footprint.

02 Jan 2004

Rotterdam Sets Records in 2003

This year, the port of Rotterdam handled 328 million tons of goods, 2% more than in 2002. This surpassed the record year of 2000 by 6 million tons. The provisional figures were clarified by Willem Scholten, chairman of the Port Management, during a press meeting today. He appeared more than satisfied. "Record figures for the total, liquid bulk, RoRo and containers. In containers, we are the first non-Asian port to pass the 7 million TEU mark. Massive investments are still being made, throughout all port sectors. The Second Maasvlakte has come a lot closer. The Municipal Port Management is to be corporatized, and will have more commercial clout as a result.

23 Sep 2002

Wan Hai Expands

Wan Hai Lines, Ltd. (WHL) will expand its U.S.-Asia service in the near future as part of its continuing commitment to increase capacity and improve customer service. Wan Hai is planning to replace five 1,600-TEU vessels in its U.S.-Asia service with five larger vessels of up to 3,500-TEU capacity. Additionally, it will acquire additional equipment and expand customer service and sales forces to support the increased vessel capacity and modify, as necessary, its current trans-Pacific service route for wider Asian port coverage. Wan Hai Lines’ vessels will continue to call at U.S. ports once a week with the added capacity, enabling the line to accommodate its growing client base in both the U.S. and Asia.

23 Sep 2002

Singapore Joins U.S. Customs CSI

Robert C. Bonner, Commissioner of the U.S. Customs Service, today announced the signing of a declaration by the government of Singapore to join the Container Security Initiative (CSI), a key U.S. Customs initiative designed to prevent global sea cargo from being exploited by terrorists to inflict harm on America and other nations of the world. "I congratulate the government of Singapore for becoming the first Asian port to join the U.S. Customs Container Security," said Commissioner Bonner. "Today's signing marks an important first for the global supply chain of trade, from Asia to the United States. Now our implementation work begins. Launched by U.S. Customs in January 2002, the CSI is designed to enhance the security of global maritime shipping, a vital link in world commerce.