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Shanghai International Port Group News

21 Aug 2023

Shipowners, Port Operators Ramp Up Methanol-fueling Projects

(Photo: A.P. Moller-Maersk)

Interest in methanol as an alternative fuel has grown in the shipping industry, which seeks to achieve net-zero emissions by 2050.Below is a list of upcoming methanol bunkering-related projects by companies and ports:COMPANIES:A.P. Moller-MaerskMaersk received the world's first methanol-enabled container ship in July. It has 24 more such vessels on order to help it to achieve its goal of using low-emission fuels to transport a quarter of its volumes by 2030.HD Hyundai Heavy Industries expects to build a dozen more such vessels…

13 Jun 2023

Methanol Bunkering Gaining Interest Among Global Players

(Image: Maersk)

Denmark's Maersk said on Monday it has secured fuel for the world's first container vessel able to run on carbon-neutral methanol for its inaugural journey.Interest in methanol as an alternative fuel for bunkering has grown in the shipping industry, which seeks to achieve net-zero emissions by 2050.Below is a list of key upcoming methanol bunkering-related projects by companies and ports:COMPANIES:*A.P. Moller-MaerskMaersk has ordered 19 methanol-enabled ships to work towards a goal of transporting 25% of its ocean cargo using green fuels by 2030.

24 Mar 2023

Maersk Teams Up with Shanghai Port on Green Methanol Shipping Fuel

(Image: A.P. Moller - Maersk)

Maersk and Shanghai International Port Group have signed a memorandum of understanding for a green methanol marine fuel project in the Shanghai port, the shipping group said on Friday.Maersk plans to put 19 vessels capable of running on e-methanol between 2023 and 2025 as part of its net-zero emissions target by 2040.Shanghai International Port Group, the operator of the world's busiest container port, said it aims to become one of the worlds first commercial green methanol refueling points and a regional green methanol fuel bunkering center.(Photo: A.P.

31 Oct 2022

COSCO Shipping to Buy $2.7B Port Assets from Parent. Enters $2.9B Shipbuilding Deal

©Wolfgang Jargstorff/AdobeStock

COSCO Shipping Holdings Co Ltd  said on Monday it has agreed to buy port assets from its parent for an aggregate 19.7 billion yuan ($2.7 billion) as it aims to build a global digital supply chain for its customers. The Chinese shipping group said it would buy 14.9% of Shanghai International Port (Group) from its indirect controlling parent China COSCO Shipping Corp Ltd for 18.9 billion yuan, and a 3.2% stake in Guangzhou Port for 778.7 million yuan. COSCO Shipping Holdings also…

26 Jul 2022

Asian Investors Bet on Haifa Port as Israel Draws Closer to Arab Gulf

© Rostislav Ageev / Adobe Stock

The city of Haifa is set to become an increasingly significant east Mediterranean shipping hub, with Chinese and Indian firms buying into its ports as Israel normalizes ties with its Gulf Arab neighbors under a U.S. diplomatic push.Earlier this month, as U.S. President Joe Biden visited the Middle East, India's largest port developer Adani Ports and Israeli minority partner Gadot agreed to buy Haifa Port for 4.1 billion shekels ($1.18 billion).Its founder, Asia's richest man Gautam Adani…

15 Jul 2022

Israel Sells Haifa Port for $1.2B

 Haifa Port - Credit: Rostislav Ageev/AdobeStock

Israel said on Thursday it will sell Haifa Port, a major trade hub on its Mediterranean coast, to winning bidders Adani Ports APSE.NS of India and local chemicals and logistics group Gadot for 4.1 billion shekels ($1.18 billion).Gadot and Adani made it to the end of a two-year tender process that Israel hopes will lower import prices and help shorten notoriously long wait times at Israeli harbors."The privatization of the port of Haifa will increase competition at the ports and lower the cost of living…

02 Sep 2021

Israel Opens Chinese-operated Port in Haifa

© Arie / Adobe Stock

Israel has opened a new shipping port along its Mediterranean coast that will bring much needed competition to a sector plagued by delays and boost the country's standing as a regional trade hub.The 5.5 billion shekel ($1.7 billion) Bay Port at Haifa, which will be operated by Shanghai International Port Group (SIPG), will enable larger classes of cargo ships, carrying 18,000 containers or more, to dock in Israel.The country is selling its state-owned ports and building new private docks in an effort bring down costs and cut above-average wait times for vessels to unload.

09 Aug 2021

Haifa Port Sale Expected to Fetch $600m or More, Bidders Line Up

© Rostislav Ageev/AdobeStock

Four investment groups are looking to acquire the Israeli port of Haifa estimated to be valued as high as $600 million with formal bids expected towards October, sources with knowledge of the matter said.Israel is selling its state-owned ports and building new private docks in an effort to encourage competition and bring down costs. At the same time, warming ties with neighboring Arab countries are creating new trade opportunities and Haifa is well placed to become a regional…

16 Sep 2020

DP World to Partner with Israeli Firm in Bid for Haifa Port

© LevT / Adobe Stock

Dubai's DP World is partnering with an Israeli group to bid for one of Israel's two main ports and to examine opening a direct shipping line between the two Middle East states, it said on Wednesday.The announcement came a day after Israel and the United Arab Emirates signed an historic agreement to normalize ties, and marks a big development in trade and economic collaboration.Dubai state-owned DP World, which operates ports from Hong Kong to Buenos Aires, signed a series of agreements with Israel's DoverTower including a joint bid in the privatization of Haifa Port on the Mediterranean…

12 Jul 2019

Shipping Majors Join CargoSmart Digital Initiative

The provider of software-as-a-service based shipping and logistics solutions, CargoSmart has announced the official execution of the Global Shipping Business Network (GSBN) Services Agreement with shipping majors.According to a statement from the shipment management software company, CMA CGM, COSCO Shipping, COSCO Shipping Ports (CSP), Hapag-Lloyd, Hutchison Ports, OOCL, Port of Qingdao, PSA International and Shanghai International Port Group have signed up with it.As per the agreement, each signatory commits to provide resources to support preparatory work required to establish the GSBN, a not-for-profit joint venture to accelerate the digital transformation of the shipping industry.The preparatory work includes obtaining all necessary regulatory…

01 Nov 2018

Port Groups Join for Go Green Initiative

Five global container port operators have jointly undertaken a week-long initiative to promote sustainable resource usage  in their respective port and facility networks through mass recycling.During the fifth annual Go Green Initiative, 8,332 employees of DP World, Hutchison Ports, PSA International, Port of Rotterdam and Shanghai International Port Group collected a total of 1,966 kg of aluminium cans and 2,227 mobile phones for recycling.The choice of two very different waste products for collection and recycling was intentional.Aluminium cans are one of the most recyclable waste items, while mobile phones are e-waste that contain…

20 Aug 2018

Shanghai International Port Group Buys Kalmar Equipment

Kalmar, part of Cargotec, has secured an order to supply 15 units of container handling equipment to Shanghai International Port Group (SIPG).This order, including a total of 4 units of Reachstackers and 11 units of Empty Container Handlers, has been booked into the Cargotec 2018 second quarter order intake. Delivery of the machines is scheduled to take place in the third quarter of 2018.Founded in 2005, Shanghai International Port (Group) Co., Ltd. is the largest joint-stock port operator in China. In 2017, the total cargo throughput volume for SIPG reached 700 million tons and the container throughput also exceeded 40 million TEU, making it as the largest container port in the world.SIPG operates all the public container and bulk terminals in port of Shanghai…

14 May 2018

Israeli Seaports Reopen as Workers End Strike

© Rafael Ben-Ari / Adobe Stock

Israeli dockworkers on Sunday ended a three-day strike that had shut down the country's two main seaports after a court ordered them back to work.Officials at the Mediterranean ports of Ashdod and Haifa said operations had resumed and that cargo ships were once again being unloaded.The workers had protested against the creation of competing foreign-run docks.The government, frustrated by labour disputes that have disrupted Israel’s trade arteries for years, gave the green light in 2013 to build new terminals next to the state-run ports of Ashdod and Haifa.Union leaders have been negotiating wi

10 May 2018

Ships Stranded as Strikes Shut Israel's Main Ports

© Rafael Ben-Ari / Adobe Stock

Striking workers shut down Israel's two main ports, leaving dozens of cargo ships stranded on Thursday in protest against the creation of competing foreign-run docks.At least 17 ships were waiting to unload at Ashdod port, with another 14 lined up to come in.

01 Jan 2018

Shanghai Port Sets New World Record

The annual handling capacity of Shanghai Port surpassed 40 million TEUs (twenty-foot equivalent units), breaking an existing world record, the Chinese state media reported. Xinhua quoted the Shanghai International Port Group saying that Shanghai Port started container transportation in 1978 with a handling capacity of 7,951 TEUs that year. As one of China's largest ports, its  throughput exceeded 30 million TEUs in 2011. In December 2017, Shanghai Yangshan Deep Water Port, the world's biggest automated container terminal, started trial operations. The project uses automated handling equipment designed and manufactured in China, as well as a domestically developed automated management system.

19 Nov 2017

Moody's on Shanghai Port Tariff Cut

Moody's Investors Service says that the announcement by China's National Development and Reform Commission (NDRC) of a cut in the handling tariff for import and export containers is credit negative for Shanghai International Port (Group) Co., Ltd (SIPG), but will not immediately affect SIPG's A1 issuer rating or the A2 backed senior unsecured bond ratings of Shanghai Port Group (BVI) Holding Co., Ltd. The ratings outlook remains stable. "The reduction in tariff will negatively impact SIPG's profitability and cash flow generation capability from 2018 onwards, and reduce the financial headroom for its standalone credit profile," says Osbert Tang, a Moody's Vice President and Senior Analyst, and the Local Market Analyst for SIPG.

10 Jul 2017

COSCO Shares Climb After OOIL Bid

COSCO Shipping Holdings Co Ltd saw its stock climb on Monday after bidding $6.3 billion for a Hong Kong peer, a deal that would see it become the world's third-biggest container shipper and underline China's supply-chain ambitions. The offer for Orient Overseas International Ltd (OOIL) comes as China's government pushes to raise the country's profile in global shipping, which dovetails with its Belt and Road initiative aimed at increasing China's influence over distribution from Asia to Europe. Beijing merged two shippers last year to form COSCO Shipping which, after the latest deal, will rise from fourth to rank only behind Denmark's Maersk Line and Switzerland's Mediterranean Shipping Co (MSC).

12 Jun 2017

Piraeus Port Signs MoU with Shanghai Port

The Cosco-managed Piraeus Port Authority (OLP) and Shanghai International Port Group, the world's biggest commercial port, signed a Memorandum of Understanding (MOU) envisioning cooperation in infrastructure studies, personnel training, information exchange and technical assistance. The MOU was signed by Athanasios Liagkos Executive Management Consultant & BoD member of the PPA SA and the Chairman of Shanghai International Port Group, Chen Xuyuan. This development further highlights Piraeus's strategic position on the world map and especially on the New Silk road. The sectors of cooperation mentioned in the Memorandum are: Project Studies, Staff Training, Information Exchange, Technical Assistance, etc.

12 Jun 2017

Chinese, Greek Ports Teams Up to Boost Container Traffic

© chungking / Adobe Stock

Piraeus Port, operator of Greece's biggest port and majority-owned by China's COSCO Shipping, has agreed to team up with the operator of Shanghai port, the world's largest container port, to promote container shipping traffic. Piraeus, COSCO Shipping and Shanghai International Port Group (SIPG) have agreed to cooperate in project planning, staff training and information exchange, Piraeus said in a statement on Monday. It said the agreement would create synergies to boost trade and create new business opportunities.

21 Apr 2017

Shanghai Grapples with Traffic Congestion

The world's busiest container port, Yangshan in China's business hub of Shanghai, is battling severe congestion wrought by dense fog, higher-than-usual volumes and the aftermath of a shake-up in shipping alliances, ocean carriers and port officials say. More than 100 container vessels are now waiting outside the port, where the average waiting time at berth last week went up 6.2 percent, to 18.2 hours, versus the previous week, according to shipping software provider CargoSmart. CargoSmart said the fog started in early April and the congestion had worsened in the past few days, with few clues to when it might ease. Average delays for ships arriving at the port jumped more than 42 percent to 53 hours between April 16 and 18 from the start of the month, it said.

28 Feb 2017

East Coast Gateway Terminal Agreement in the offing

The Georgia Ports Authority and the Virginia Port Authority filed on Friday, Feb. The agreement encourages voluntary cooperation in the areas of operational and supply chain efficiencies, safety, communications and customer service. “The U.S. East Coast continues to see larger vessels and cargo exchanges since the opening of the expanded Panama Canal last year,” VPA CEO and Executive Director John Reinhart and GPA Executive Director Griff Lynch said in a joint statement. “Increasingly, our customers are seeking gateway ports on the East Coast that can leverage sufficient landside infrastructure to ensure the free flow of cargo. The states of Georgia and Virginia have made the necessary investments to prepare for this new era in global trade.

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…

11 Jan 2016

Shanghai Port Profit Falls; First Drop in Four Years

Shanghai International Port Group Co Ltd, the operator of the world's busiest container port, posted a 4 percent fall in its 2015 preliminary net profit, marking the first decline since 2011 as China's economy slows. Shanghai Port, whose container throughput totalled 36.5 million TEU (twenty-foot-equivalent units) in 2015, reported a preliminary net profit of 6.5 billion yuan ($989.35 million) in 2015, down from 6.8 billion yuan a year earlier, it said in an exchange filing on Monday. The port is expected to post its final annual results with outlook comments in March. The last time it logged a profit fall was in 2011, when net profit was down 12.8 percent, according company data posted on Eikon.