Global Ports Investments Plc News

French-based shipping group CMA CGM has completed its withdrawal from the Russian market by divesting stakes in terminals through an asset swap, the company said.“With this finalized transaction and the decision to suspend all new bookings to and from Russia since March 1st, 2022, the CMA CGM Group will no longer be involved in any entities operating in Russia,” it said in an emailed statement.The deal was concluded on Dec. 28, it said.CMA CGM inherited 25% stakes in four terminals in Russia and Finland through the acquisition of Finnish firm Containerships in 2018…

Global Ports Investments PLC announced that First Container Terminal Inc., one of the Group’s sea terminals, has signed an agreement to sell its 100% shares in JSC Logistika-Terminal (LT), one of the Group’s two inland terminals, to PJSC TransContainer for a consideration of 1.9 billion Russian rubles to be paid upon completion of the transaction. The transaction will allow the Group to optimize its inland terminal network focusing on the Yanino terminal, a modern multipurpose inland terminal in the vicinity of St. Petersburg. The Group intends to use the proceeds of the sale for further deleveraging, a key strategic priority. The transaction is subject to approval of relevant regulatory authorities. LT is an inland container terminal near St.

Global Bulk Terminals market is expected to grow from $5.20 billion in 2016 to reach $7.41 billion by 2023 with a CAGR of 5.1%, said Forecast Research Study. Rising demand from industrial output, increasing usage of bulk commodities and its affordability in emerging countries are some of the factors fuelling the market. In addition downfall of coal consumption and business reforms in some countries are hindering the market growth. Based on type, dry bulk segment has acquired the largest market share and growth of this segment is attributed to developing countries and their cleaner energy utilizing approach and thus restricting the coal consumption.

Global Ports Investments PLC's  container traffic slumped 31 percent and revenue sank 28 percent in 2015. Global Ports Investments' revenues fell to USD405.7 million in the year to the end of December. Net loss of the port operator in 2015 amounted to $33.7 million versus $197.3 million net loss a year earlier, the financial report said the company’s financial and operating results for the year of 2015. Thus, the net loss decreased in 5.8 times. The leading operator of container terminals on the Russian market explains the decrease in revenue the drop in traffic (container throughput of Global Ports in 2015 decreased compared with the previous year by 31%, to 1.8 million TEU(equivalent 20-foot container)).

In its second quarter ended 30, June 2014 APM Terminals reports increases in both profits and container volume throughput. AgreementreachedtodivestAPMTerminals Virginia, Portsmouth, USA with an expected completion during Q3. APM Terminals delivered an increased profit of USD 223m (USD 179m) in Q2, driven by a strong volume growth of 8% with new terminals contributing by 2%. Additions to the network came mainly from the acquisition of NCC Group Limited by Global Ports Investments PLC, Russia in 2013 and ramp-up in the jointly owned Brasil Terminal Portuario in Santos, Brazil. Revenue increased by 6% to USD 1.1bn, reflecting the growth…