Port Of Kribi News

The International Container Terminal Services Inc. (ICTSI) has been declared as the preferred bidder for the development, operations and management of the Port of Kribi in Cameroon for 25 years.Philippine government's  News Agency quoted ICTSI disclosure to the stock exchange saying that: "ICTSI has been declared preferred bidder for the concession of the development, operation and maintenance of the Multi-Purpose Terminal of the Port of Kribi by the Port Autonome de Kribi. Parties will now engage in exclusive concession contract negotiations ahead of final contract signature."The Port of Kribi, located in Cameroon, Central Africa, is a newly built port with deep draft.

The CMA CGM Group is pleased to announce that on July 25, 2017, the official signing ceremony for the concession agreement of the new container terminal was held in Kribi, Cameroon, chaired by the Minister for Transport, Edgar Alain Mébé Ngo’o. Following an international call to tenders, the consortium of the French groups CMA CGM and Bolloré Transport & Logistics as well as the Chinese group CHEC, were granted the funding and the operation of the Kribi Container Terminal, which they will manage for 25 years under a Public-Private partnership with the State of Cameroon. Kribi Containers Terminal will be backed by a solid and complementary shareholder base: CMA CGM…

French shipping giant CMA CGM, reported a 66.7% jump in net profit to $156m in the second quarter of 2015. The result compared to a $94m net profit in the same period a year earlier. The world’s third largest container line says that its unit costs fell 10.9 percent year on year, thanks to falling oil prices, reporting operating expenses during Q2 at $3.7 billion compared to $3.9 billion during the same period last year. Volumes carried during the second quarter increased 6.2 per cent year on year to 3.3 million TEU, compared to global market volume growth of one to two per cent. The improved profitability came despite a 2.1% fall in revenues to $4.11bn in Q2 2015, compared to $4.2bn in the same period a year earlier.

France's Bollore-led consortium has been awarded the contract to develop and operate a container terminal in Cameroon's deep-water port of Kribi, says a report in Reuters. Bollore's consortium included France's CMA CGM, the world's third-largest container shipper. Earlier, CHEC was chosen following a tender issued in 2008 on the financing, construction and operation of the Port of Kribi. Bolloré Africa Logistics that partnered with CMA CGM, the third largest owner, and the Chinese company CHEC, who built the port of Kribi made a financial offer of 623 , 4 million euros (about 409 billion FCFA). A proposal that allowed the consortium to largely outpace its competitors such as the Philippine International Container Terminal Services which made a final bid of 467.3 million euros…

A consortium led by France's Bollore failed to make the final shortlist of firms vying to manage a new container terminal in Cameroon's southern port of Kribi, according to a commission report seen by Reuters on Monday. The government commission, charged with recommending a container terminal manager, shortlisted Philippines-based ICTSI and port operator APM Terminals, a unit of shipping and oil conglomerate A.P. Moller-Maersk. The commission said in its report it had reservations over the sustainability of the proposal from Bollore's consortium and found the offers from ICTSI and APMT to be the most plausible. "The Commission accepted the offers of ICTSI and APMT as being the most advantageous for Cameroon and the central African sub-region," it said.

French maritime transporter CMA CGM has opened a logistics complex, between the port and city of Douala, Cameroon, and set up a new firm to handle inland transportation in West African markets. Christened 3CTC (CMA CGM Cameroon Container Terminal), the terminal covers a surface area of 2 hectares. Douala port is Cameroon's largest port. Located between the ring road of Douala and the port area, this "dry port" will enable CMA CGM customers to store containers, empty or full, in a secure area of 1200 m2. The new logistics platform also serves as a transportation hub for goods by land, Cameroon and to Chad and the Central African Republic. 3CTC was given to CMA CGM as a part of a 25-year deal. "3CTC opening demonstrates our commitment to strengthen our presence in Africa.

Glencore, Suncor, ENI, Vitol all booking tankers; U.S. crude oil stocks at highest ever level for time of year. Traders are shipping West African crude to the United States to store the oil until prices recover, as the global glut forces them to source any tanks available and as seaborne cargoes are able to compete better on price with U.S. crude. Oil firms including Swiss-based Glencore, Italian energy major ENI and Canada's biggest oil company Suncor have lined up ships to take at least 10 million barrels of West African crude to North America, ship brokers say, with freight bookings and tanker tracking also showing the moves. The move reinvigorates a trade that had been largely shut off by the U.S.

Traders are shipping West African crude to the United States to store the oil until prices recover, as the global glut forces them to source any tanks available and as seaborne cargoes are able to compete better on price with U.S. crude. Oil firms including Swiss-based Glencore, Italian energy major ENI and Canadian's biggest oil company Suncor have all lined up ships to take at least 10 million barrels of West African crude to North America, ship brokers say, with freight bookings and tanker tracking also showing the moves. The move reinvigorates a trade that had been largely shut off by the U.S. shale boom, as West African barrels that used to be imported to the United States were some of the first to be pushed out by soaring output in Texas and North Dakota. While U.S.