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Terminals Ltd News

15 Mar 2023

UAE's Fujairah Needs to Step Up Investments for New Bunker Fuels -Execs

© moodboard / Adobe Stock

UAE's Fujairah must step up investments for storage and supply of new alternative fuels as these markets are still lacking traction at the world's third-largest bunkering hub despite the urgency for maritime decarbonization, industry executives said on Wednesday.The maritime industry must seek out alternative fuels to meet carbon emission reduction targets set out by the U.N.'s International Maritime Organization, which include cutting carbon emissions by 40% from 2008 levels by 2030 and overall greenhouse gas (GHG) emissions by 50% by 2050.Despite being a key bunkering port…

25 Oct 2018

EU Okays CMA CGM’s takeover of Containerships

European Commission’s competition regulators has approved CMA CGM acquisition of Container Finance, the holding company that controls regional container operator Containerships.CMA CGM, the world’s fourth largest carrier by capacity, agreed in June to acquire Finland-based Containerships and its logistics operations."A combination agreement between Container Finance Ltd Oy and CMA CGM, signed on 20th June 2018, has been accepted unconditionally by all relevant competition authorities meaning CMA CGM is free to take over short sea carrier Containerships," said a statement from Containerships.Upon closing the agreement, Container Finance’s entire container logistics operations including Containerships plc…

12 Jul 2018

India to Roll-out USD 156 mln Vizag Port Projects

Nitin Gadkari, Indian Minister of Shipping will inaugurate five port projects worth INR  1062 Crores (USD 156 mln ) in Vishakhapatnam today (Friday). The projects to be inaugurated include upgradation of existing iron ore handling facility at Outer Harbour of Vizag Port. This would involve modernising and upgrading the 40 year old iron ore handling facility so that it can handle larger vessels of 2 lakh DWT with loading rate of 8000 MT/hour. Capacity enhancement would be to 16.20 MTPA from 12.50 MTPA. The work was awarded to M/s.ESSAR Vizag Terminals Ltd on DBFOT basis with revenue share of 31% on 14.5.2015 is was completed on 31.5.2018. The other projects to be inaugurated include Development Berths at the inner harbour of the port and Post Panamax Quay Cranes.

14 May 2015

Essar Ports Acquires Vizag Port's Iron Ore Complex

Essar Ports Ltd. (EPL) today announced the taking over of Vishakhapatnam Port Trust’s (VPT) Iron Ore Handling Complex on a Build-Operate-Transfer (BOT) basis, for a period of 30 years. Essar Vizag Terminals Ltd. (EVTL), a wholly owned subsidiary of EPL, will comprise three berths (two outer harbour berths and one inner harbour berth) with a combined capacity of 23 Million Tonnes per Annum (MTPA) which will be developed in two phases. “Enhancing the cargo handling capacity and mechanization of port facilities for efficient management is crucial for long term sustenance. We are very sure that Essar will develop the OHC facility with latest state-of art handling facilities and achieve higher loading rate thereby reducing the overall turn around by at least 50%”- M.T.

10 Jan 2015

ICTSI Names Head for Australian Unit

International Container Terminal Services Inc. (ICTSI) has appointed Anders Dommestrup as Chief Executive Officer of its Australian subsidiary, Victoria International Container Terminal Ltd. “We are extremely pleased to welcome Mr. Dommestrup into the ICTSI Group. With his extensive and leading industry experience and expertise, we believe that he can provide exceptional leadership to our new project at Webb Dock East in the Port of Melbourne,” says Christian R. Gonzalez, ICTSI Head of Asia-Pacific and the Subcontinent. Prior to ICTSI, Mr. Dommestrup was Chief Operating Officer of Modern Terminals Ltd. (MTL). Since 2005, he had been…

04 Aug 2014

WISTA Launched in Sri Lanka

Women’s International Shipping and Trading Association (better known as WISTA),  was  launched  in  Sri  Lanka  on  the  03rd  July  2014,  at the  Hilton  Residencies  Colombo  amidst  a  large  and  distinguished  gathering  including  the  Chairman  of  the  Sri  Lanka  Ports  Authority,  Chairmen  &  Chairpersons  of  leading  Public  and  Private  Sector  Organizations  and  Institutes. WISTA Sri Lanka will function under the Presidency of Ms. Shehara Jayawardana, and consists of a 20 member committee which, to date,  has been successful  in  attracting 49 eminent females from shipping and shipping related industries to join its membership. "We are deligted to welcome WISTA Sri Lanka to our ranks“, stated WISTA President Karin Orsel.

22 Jul 2014

Sanjam Gupta helps Launch WISTA in Sri Lanka

Within two years of the launch in India in 2012, the Women’s International Shipping and Trading Association (better known as WISTA), Ms. Sanjam  Sahi  Gupta, its Founder President, has moved fast to spread WISTA to the Indian sub continent. Her first significant effort in this direction has been the launch of WISTA in the neighboring country, Sri Lanka on 3rd July, 2014. To commemorate the occasion WISTA hosted a gala program at the  Hilton  Residencies  Colombo  amidst a  large  and  distinguished  gathering  that included  the  Chairman  of  the  Sri  Lanka  Ports  Authority,  Chairmen  &  Chairpersons  of  leading  Public  and  Private  Sector  Organizations and Institutes. Special Guests gracing  the occasion  were  Founder  Member  and  President  of WISTA  India,  Ms.

14 Jan 2013

Modern Terminals, WNS, Form BPO Alliance

Modern Terminals Ltd. and WNS (Holdings) in strategic partnership to provide Business Process Outsourcing (BPO) services. Modern Terminals Limited, a leading container terminal operator headquartered in Hong Kong, and WNS (Holdings) Limited , a leading provider of global Business Process Outsourcing (BPO) services, announce a strategic partnership to deliver BPO services and solutions to the shipping and logistics industry. Under the agreement, WNS and Modern Terminals will jointly work to provide shippers, forwarders, 3PL’s and ocean carriers BPO services designed to reduce costs as well as improve business process efficiency and effectiveness. "We are continuously on the lookout for new and more innovative ideas that can potentially add value for our customers,” said Peter J.

23 Jul 2008

AMPL: Offer to Acquire Gadot

Ampal-American Israel Corporation (AMPL) announced that Merhav-Ampal Energy Ltd. (MAE), a wholly owned subsidiary of Ampal, has commenced offers in Israel to purchase all outstanding shares of common stock and all outstanding convertible debentures of Gadot Chemical Tankers And Terminals Ltd. The consummation of the offer to purchase the Shares is conditioned upon, among other things, the tender of at least 15.72% of the outstanding Shares of Gadot and the tender of a sufficient number of convertible debentures such that Gadot will not be reporting issuer due to the convertible debentures. If the offers to purchase the Shares and convertible debentures are consummated…

23 Jul 2008

AMPL: Offer to Acquire Gadot

Ampal-American Israel Corporation (AMPL) announced that Merhav-Ampal Energy Ltd. (MAE), a wholly owned subsidiary of Ampal, has commenced offers in to purchase all outstanding shares of common stock and all outstanding convertible debentures of Gadot Chemical Tankers And Terminals Ltd. The consummation of the offer to purchase the Shares is conditioned upon, among other things, the tender of at least 15.72% of the outstanding Shares of Gadot and the tender of a sufficient number of convertible debentures such that Gadot will not be reporting issuer due to the convertible debentures. If the offers to purchase the Shares and convertible debentures are consummated…

12 May 2000

Business Briefs

OPEC President and Venezuelan Energy Minister Ali Rodriguez dismissed another increase in crude oil output in July, quelling speculation that a recent price spike could pressure exporters to crank out more oil. Mexico's Energy Minister Luis Tellez, meanwhile, said the Wednesday summit of the oil trio -- the three engineers of a March 1999 producers' pact to restrict output and lift sagging prices -- would not produce any firm action. South Korea's Hyundai Engineering & Construction has won a $510 million order to build a container terminal in Hong Kong. Hyundai said it had been awarded the deal by a group of Hong Kong companies, including Modern Terminals Ltd. Work is to begin on May 12 for completion by October 2004.

04 Jan 2007

Gadot Chemicals Tankers Considers Floating GCT

Gadot Chemicals Tankers and Terminals Ltd. is considering floating its subsidiary, Gadot Chemical Terminals (1985) Ltd. (GCT). According to reports, GCT currently has a company value of NIS 250 million, and that an IPO would be held during the first half of the year. Gadot Chemicals Tankers and Terminals comprises of two main businesses: GCT and its shipping business, as well as a number of other subsidiaries in a range of fields. Last November, Gadot acquired full control of Dutch company Bax Chemicals BV for NIS 31 million. Source: Globes Online

15 Apr 2003

Hext to Lead V. Ships Marine Services Division

As part of a Group re-organisation, V.Ships, the world's largest provider of ship management and related marine services, has appointed Richard Hext as Chief Executive Officer of the Groups' Marine Services Division. The move follows a restructuring of the Group into two operating divisions; Ship Management and Marine Services. The newly formed Marine Services Division will oversee all activities of the Group other than ship management, including commercial management, ship agency, consulting, travel, insurance, IT and various other support activities. Roberto Giorgi continues to head up the Ship Management Division, overseeing all cargo and leisure ship management activities within the group. Mr. Hext joins V.Ships from LevelSeas, where he was Chief Executive.

31 Jan 2000

ACT Gets Loan For Hong Kong Terminal Construction

Asia Container Terminals Ltd. (ACT) has signed a $437 million project financing agreement backing the construction and development of Container Terminal 9 at Tsing Yi Island in Hong Kong, according to company officials. The signing of the loan agreement has added significance because it is the first project financing completed in Hong Kong since the Asian financial crisis, an officials said.

08 May 2000

Hyundai Wins Container Terminal Order

South Korea's Hyundai Engineering & Construction has won a $510 million order to build a container terminal in Hong Kong. Hyundai was reportedly awarded the deal by a group of Hong Kong companies, including Modern Terminals Ltd. Work is to begin May 12 for completion by October 2004.