ICTSI Posts Strong H1
Philippines-based international container terminal operator ICTSI has reported a massive increase in profit and a substantial increase in revenues for the first half of 2019.First half throughput rose 7% to 5.04 million teu and came on good revenues, leading to a 42% jump in net profit to $128.5 million, said a press release from the global port management company.ICTSI attributed its profit growth during the six-month period to volume growth, tariff adjustments for certain services at multiple terminals…
MSC Hikes Stake in Terminal Investment
MSC Mediterranean Shipping Company, the world's second-largest shipping line in terms of container vessel capacity, SA announced that it is increasing its majority stake in the container terminal operator Terminal Investment Ltd (TiL) to 60%, following a deal with Global Infrastructure Partners (GIP) and other co-investors.MSC also welcomes a new partner to the shareholding of TiL after Global Investment Corporation (GIP), a Singaporean Sovereign Wealth Fund, acquired a 10% stake in TiL from GIP and other existing co-investors.New York-based GIP…
Aus Terminal Selects Kalmar Straddle Carriers
The cargo-handling solutions provider Kalmar, part of Cargotec, is to supply a total of 12 diesel-electric straddle carriers to leading Australian terminal operator Patrick Terminals.The order, which comprises eight automated Kalmar AutoStrad(TM) units and four manually operated Kalmar Straddle Carriers, was booked in Cargotec's 2019 Q1 order intake. Delivery of the machines is scheduled to be completed during Q2 of 2020.Patrick Terminals is Australia's leading container terminal operator, handling over three million TEU annually.
Hutchison Opens Terminal D
Hutchison Ports Thailand (HPT), the largest container terminal operator in Thailand, has officially opened Terminal D at Laem Chabang Port, , the most advanced deep-sea container terminal in the country.Dr. Pailin Chuchottaworn, Deputy Minister of Transport, presided together over the official opening of Terminal D at Laem Chabang Port. Alongside the Deputy Minister of Transport, representatives from government agencies, the private sectors and other distinguished guests were…
Port of Oakland Completes TraPac Terminal
Port of Oakland’s container terminal operator, TraPac, concluded a USD 67 million waterfront expansion in January 2019 as it opened a new vessel berth to arriving container ships.The milestone signals completion of a two-year project at Oakland’s second-largest terminal that has nearly doubled TraPac’s footprint from 66 to 123 acres; boosted its fleet of ship-to-shore cranes from four to seven; and added a third 1,400-foot-long dock for berthing mega containerships.“We are grateful to dockworkers…
Moody's Downgrades Maersk
Moody's Investors Service has downgraded ratings for AP Moller-Maersk after a review of the Denmark-based shipping and oil company. Moody's expressed concerns about lower economic growth and the US-China trade war."The downgrade reflects our expectation that Maersk will face increased market and execution risks and, as a result, operate at a higher leverage than is commensurate with a Baa2 rating for a company in such a volatile and cyclical business as container shipping," said Maria Maslovsky…
Contship Expands Intermodal Service
Contship Italia Group has been pulling all the stops to increase its intermodal offering during the past months.Italy’s leading service provider for integrated global supply chains said that its Rail Hub Milano (RHM) and its gateway ports La Spezia and Ravenna serve as backbone of the Group’s growing intermodal network.La Spezia is geographically located within a range of 320 km from the key economic regions in Italy, accounting for over 47% of the total Italian GDP. RHM is located in Melzo, just outside the city of Milan at the heart of consumer and industrial regions.
Kalmar Bags Eurogate Order
Kalmar, part of Cargotec, is to deliver two rubber-tyred gantry cranes (RTGs) to EUROGATE, Europe's leading shipping line-independent container terminal operator, for use in their Tanger S.A. terminal in Morocco.The order was booked in Cargotec's 2018 Q3 order intake, with delivery scheduled to take place during Q3 of 2019. The EUROGATE Tanger container terminal is conveniently located on the Strait of Gibraltar in Morocco, making it the ideal transhipment hub for the western Mediterranean…
Work in Progress to Expand Dunkirk Box Terminal
Container handling in the Port of Dunkirk takes place mainly at the Flanders Terminal. The activity continues to grow steadily, with numbers increasing from 200,000 TEU in 2010 to 375,000 TEU in 2017. In February 2017, to maintain this development and ensure that the world's largest container carriers can be berthed in all sea conditions, the Port of Dunkirk, as Project Owner, launched the building of the Flanders Terminal Extension. This extension will enable the container terminal operator, as of 2019, to berth two new-generation megamax container carriers simultaneously.
ICTSI Net Income Rises 19%
Manila-based global container terminal operator International Container Terminal Services, Inc. (ICTSI) reported unaudited consolidated financial results for the first half of 2017 posting revenue from port operations of US$603.7 million, an increase of 10 percent over the US$550.8 million reported for the first six months of 2016. The net income attributable to equity holders of US$103.6 million, up 19 percent from the US$87.3 million earned in the same period last year due to the continuing ramp-up at the new terminal in Matadi…
Port of Sohar Opens New Auto Gate System
As the container terminal operator at Sohar Port in Oman, Hutchison Ports is taking its next bold step towards modernisation and full automation, with the launch of its new Auto Gate system at Terminal C. The Terminal already features remote-controlled quayside cranes capable of handling next generation 20,000 TEU vessels. “Auto Gate promises to make container shipments at Hutchison Ports SOHAR even faster and more secure, strengthening the Port’s already excellent reputation as the new Gateway to the Gulf,” said Albert Pang, CEO of Hutchison Ports SOHAR.
Thessaloniki Port Workers Plan Stoppage to Protest Port Sale
Workers at Greece's second-biggest port, Thessaloniki Port, will walk off their job for a few hours on Wednesday to protest the port's sale, a key condition of the country's international bailout. The sale was launched in 2014 but has been plagued by delays and political resistance. As part of its privatisation drive under its latest bailout, Greece has given investors until March 24 to submit binding bids for a 67 percent stake in the port and taking over its operation for 40 years.
Greece Sets Bid Deadline for Thessaloniki Port Sale
Greece has given investors until March 24 to submit binding bids for a majority stake in its second biggest port, Thessaloniki Port, two sources close to the matter said on Tuesday. The sale of the 67 percent stake in the port and other privatisations are a key part of the country's current EU/IMF international bailout deal, the third since 2010. But the programme has fallen behind schedule due to political resistance and red tape, and has raised only 4 billion euros ($4.3 billion) so far versus an original target of 50 billion euros.
COSCO Ports Arm Inks Terminal Deal in Abu Dhabi
Abu Dhabi Ports has signed a container terminal concession agreement with COSCO SHIPPING Ports Limited - Abu Dhabi (CSPL SPV), a wholly-owned subsidiary of container terminal operator COSCO SHIPPING Ports Limited, a subsidiary of China COSCO SHIPPING Corporation Limited. The event was held in the presence of His Excellency Dr. Sultan Ahmed Al Jaber, the UAE Minister of State and Chairman of Abu Dhabi Ports, Zheng Chiping, Deputy Director of the foreign investment department of the National Development and Reform Commission of PRC and Wan Min…
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.
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.
DP World Eyes Taiwan Port
Global marine container terminal operator DP World will help to expand the development of Kaohsiung Port’s Terminal 7, which is owned by the state run Taiwan International Ports Corporation (TIPC), in an effort to increase its Asian portfolio. The Dubai ports operator signed a memorandum of understanding with TIPC to develop the terminal. Financial terms were not disclosed. As the first global operator entering the Taiwan market, DP World will bring to the table its international…
CMA CGM to delist NOL
French container shipping firm CMA CGM plans to delist Neptune Orient Lines (NOL) following its takeover of the Singaporean shipper, CMA CGM's vice chairman Rodolphe Saade told French daily Les Echos. CMA CGM, the world's third-largest container shipping company, said earlier this month it holds over 78 percent of NOL shares after buying Temasek Holdings' stake in a $2.4-billion deal agreed last year. Minority shareholders can sell their shares to CMA CG until July 18. Saade said he was confident they will sell and added that as soon as CMA CGM holds 90 percent of NOL…
Striking Port Workers Protest Greek Port Sales
Greek port workers walked off the job for a sixth day on Tuesday and marched through central Athens to protest the state-sanctioned selloff of the country's two largest ports, Piraeus and Thessaloniki. Privatisations have been a pillar of a succession of international bailouts for Greece since 2010, but political resistance and bureaucracy has stymied the task. From an initial target of 50 billion in revenue from asset sales, Greece has barely managed to scrape together 3 billion euros. Fearing layoffs, port workers have been on 48-hour rolling strikes since last week and have said they will not return to work unless their requests are addressed. "Everything, taxes, bills, the living cost, is going up. Daily food has become more expensive.
Binding Bids for Greece's Thessaloniki Port Expected End September
Greece will invite investors to submit binding bids for a majority stake in the country's second largest port in Thessaloniki at the end of September, sources close to the privatisation said on Monday. Under its third international bailout agreed in July, Greece will sell a 67 percent stake in the port. Investors will be asked to make mandatory investments of about 220 million euros in the port, one of the sources said. Denmark's container terminal operator APM Terminals, Phillipines-based International Container Terminal Services ICTS and Dubai-based P&O Steam Navigation Company (DP World) were strongly interested in the Thessaloniki port, the head of the country's privatisation agency said last month. (Reporting by Angeliki Koutantou)
Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake
Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui, Bloomberg reported. The sale process is already underway, Bloomberg reported, citing two people with direct knowledge of the matter. Rotterdam-based Louis Dreyfus and Brazil's Amaggi hold their stake in the terminal through a joint venture, Bloomberg said. The terminal provided much-needed capacity for the shipment of crops such as soybeans, of which Brazil is the world's largest exporter, the report said. Louis Dreyfus and Amaggi were not immediately available for comment.
Kalmar Straddle Carriers for EUROGATE CT, Hamburg
Kalmar, part of Cargotec, is to deliver nine diesel-electric straddle carriers to EUROGATE, Europe's leading shipping line-independent container terminal operator, for use in their Hamburg Container Terminal. The order was booked in Cargotec's 2016 first quarter order intake, with delivery taking place during quarter four in 2016. Mikko Mononen, Director, Sales and Project Management, Intelligent Horizontal Transportation Solutions at Kalmar, says: "As a long-standing customer, we highly value the relationship with EUROGATE and it is a privilege to be involved in their development activities.
APM Terminals Buenos Aires Wins Safety Award
ICHCA’s inaugural International ‘Innovation in Safety’ Award was presented in recognition of APM Terminals Buenos Aires Terminal 4’s “Safety Logging System”. Barcelona, Spain – APM Terminals Buenos Aires, operator of the Terminal 4 facility in Argentina’s primary port, was named winner of the first annual “Innovation in Safety Award”, bestowed by ICHCA International, an independent organization dedicated to improving the safety, productivity and efficiency of cargo handling and transportation, at the annual ICHCA conference, held this year in Spain.