COSCO Shipping Ports Reports Better H1 Results
The port terminal operator division of China COSCO Shipping Corp. posted net profits of US$384.7 million, an increase of 123.7% for FY 2017, compared with the corresponding period last year. Total throughput of the Group’s container terminals increased by 11.8% to 41,780,867 TEU for the six months ended 30 June 2017 (1H2016: 37,358,210 TEU); of which about 19.3% (1H2016: 21.1%) or 8,046,468 TEU (1H2016: 7,880,362 TEU) were handled by the Group’s subsidiaries; and the remaining 80.7% (1H2016: 78.9%) or 33,734,399 TEU (1H2016: 29,477,848) were handled by the Group’s non-controlling terminals. The throughput of the Greater China region accounted for 78.7% (1H2016: 83.0%) of the Group’s total throughput in the first half of 2017…
Cosco Eyes Spanish port of Algeciras
Algeciras Bay Port Authority in southern Spain has put up a tender for its third container terminal, and China's Cosco Shipping Ports is already being mentioned as a fore runner candidate, says a report by Caixin. According to port authority, Algeciras is Spain's biggest container port and oil importing dock, and handled 2.3 million 20-foot containers in the first half the year – a 13 percent year on year increase. Cosco Shipping Ports Ltd., the port operating arm of state-owned China COSCO Shipping Corp., is the world's fourth-largest container operator by capacity. Its recent overseas shopping spree includes buying two-thirds of Piraeus…
Cosco Pacific to Buy a 35% Stake in Euromax Terminal Rotterdam
China’s Cosco Pacific Ltd. will buy 35 percent of Euromax Terminal Rotterdam BV for 125.4 million euros ($143 million) for shares and loans amid an overseas expansion drive by Chinese companies. Euromax is indirectly owned by Hutchison Port Holdings Ltd. (HPH), which in turn is owned by Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings Ltd. Cosco Pacific will pay 41.4 million euros and assume 84 million euros of debt equivalent to 35 percent of a loan, Cosco Pacificsaid in a statement. Euromax is principally engaged in the business of operating the Euromax Terminal Rotterdam, which is located in Maasvlakte I of the Port of Rotterdam in the Netherlands. It is an automatic container terminal which commenced operations in mid-2010.
ECT Delta Terminal Receives Three Mega-Ship Cranes
After a voyage of more than two months, yet another three new giant super post panamax ship-to-shore cranes from Shanghai arrived at the ECT Delta Terminal at the Maasvlakte, in Rotterdam. The remotely-operated cranes have a lifting height of 50 meters under the spreader and can reach across 24 containers wide, making them capable of handling even the world’s largest containerships. Furthermore, the cranes can be remotely controlled from the office by ECT’s crane operators. With this subsequent investment, ECT is further expanding its facilities to handle Ultra Large Container Ships (ULCS's). Last year, ECT also commissioned five of such cranes. The cranes were manufactured by the Chinese company ZPMC.
Giant Reefer Ship Makes Maiden Call in Rotterdam
Hamburg Süd’s Cap San Lorenzo docked for the first time in the port of Rotterdam on Thursday, September 4. At the Euromax Terminal, the captain was presented with the traditional port plaque associated with a maiden call, in the presence of Port of Rotterdam Authority CEO Allard Castelein. The Cap San Lorenzo is the fourth containership in a series of six newbuild vessels for the shipping line. The ship, 333 meters long and 48 meters wide, has a capacity of 9,600 TEU. With 2…
Port of Rotterdam Takes Steps to Stop Delays
The Port of Rotterdam is taking measures to eliminate congestion at the ECT Delta Terminal and the Euromax Terminal. Inland waterway vessels and feeder vessels have been experiencing delays at these terminals for some time. Improvements implemented at these terminals have not had the desired effect up until now. The inconvenience experienced by the port's customers and users is of such magnitude that the Port of Rotterdam Authority has taken the initiative of developing solutions to this problem. It became clear that all parties involved wanted to cooperate in order to improve the situation. Three potential measures were identified pursuant to meetings with ECT, LINC (inland container shipping sector), Uniport Terminal and the Kramer Group/RCT.
