Psa International Pte Ltd News

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, new contracts with shipping lines and services, as well as the continuing ramp-up of operations at new terminals.Enrique K. Razon, Jr., President and Chairman of ICTSI said: “ICTSI’s performance in the first half of 2019 has been very positive.

Singapore-based port operator PSA International has completed the acquisition of Halterm Container Terminal in the Port of Halifax, Canada, from Macquarie Infrastructure Partners."PSA International Pte Ltd concluded the purchase of the terminal from Macquarie Infrastructure Partners after formal approval by regulatory authorities, " said a PSA news release issued on Wednesday night.Halterm is the only container terminal in Eastern Canada that can serve mega container vessels. It operates three container berths covering more than a kilometer of quay length with depth of up to 16 meters.The terminal is currently undergoing further berth expansion…

Manila-head quartered port and terminal operator International Container Terminal Services (ICTSI) has released solid results for 2018. ICTSI’s box volumes were higher, revenues increased and the group generated higher profit.The port operator said in a stock exchange annoucement that its consolidated volume higher by six percent to 9,736,621 twenty-foot equivalent units (TEUs) (FY2017: 9,153,458 TEUs) and revenue from port operations increased 11 percent to US$1.4 billion (FY2017: US$1.2 billion).Its net income attributable to equity holders up strongly by 22 percent to US$221.5 million (FY2017: US$182.1 million).Enrique Razon, Chairman of ICTSI said: “I am pleased to report strong full year operating results for 2018.

Dubai's DP World has asked an Indian court to halt an investigation into alleged antitrust violations at the country's largest container port in Mumbai, saying the regulator was seeking excessive information, a court document seen by Reuters showed.The Competition Commission of India (CCI) last year said it suspected antitrust violations by DP World and Denmark's A.P. Moller-Maersk at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).The CCI's investigation followed a complaint by Singapore's PSA International Pte Ltd, which alleged that Maersk and DP World businesses created barriers to hinder the growth of PSA's terminal by colluding on certain charges they levy at JNPT.In December, a Mumbai high court declined a DP World plea to quash the investigation.

India's antitrust regulator has ordered a probe into alleged anti-competitive practices by Denmark's A.P. Moller-Maersk and Dubai's DP World at the terminals they operate at the country's largest container port in Mumbai, five sources familiar with the matter told Reuters.The decision by the Competition Commission of India (CCI) to investigate follows a complaint by Singapore's PSA International Pte Ltd, which alleged that Maersk and DP World created entry barriers to hinder the growth of PSA's terminal by colluding on certain charges they levy at the state-owned Jawaharlal Nehru Port Trust (JNPT).Handling 66 million tonnes of cargo in the last fiscal year to March, JNPT is critical to India's international trade.

Philippines-based International Container Terminal Services Inc (ICTSI)  has announced a 6% decrease in income in its consolidated financial results for the first half of 2018.However, the port operator saw overall throughput rise 4% to 4.7m teu in the first half compared to 4.5m teu handled in the previous corresponding period in 2017, mainly on robust trade in the emerging markets and contributions from new terminals in Lae and Motukea in Papua New Guinea and the Australian port of Melbourne.The decrease in net income was due primarily to the start-up costs of the new terminals in Papua New Guinea and Australia; and the US$7.5 Million non-recurring gain on the termination of the sub-concession agreement in Nigeria in the second quarter of 2017…

Bharat Mumbai Container Terminals Pte Ltd (BMCT), a wholly owned subsidiary of PSA International Pte Ltd (PSA), exercised its option to purchase a further 18 Konecranes Noell Rubber Tired Gantry (RTG) cranes. This order follows upon an initial order for 18 RTG and 4 RMG cranes that will be delivered by the end of this year. The 18 RTGs currently on order will be delivered in two lots: 9 units will be delivered by August 2018, and the remaining 9 by end-2018. At this time BMCT will operate a total of 36 Konecranes Noell RTG cranes and 4 Konecranes Noell RMG cranes. The RMG cranes will be used in BMCT’s railyard, which can handle double-stack container trains up to 1.5 km long. They will be powered from the terminal’s mains and will not generate any local exhaust emissions.

International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the first nine months of 2016 posting revenues from port operations of US$835.0 million, an increase of five percent over the US$792.0 million reported for the same period last year; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$390.3 million, 15 percent higher than the US$339.5 million generated in the first nine months of 2015, and net income attributable to equity holders of US$141.9 million, up 4% from the US$136.2 million earned in the first three quarter of the previous year. Net income…

Terex Port Solutions (TPS) has received orders from Bharat Mumbai Container Terminals Pte Ltd (BMCT), a wholly owned subsidiary of PSA International Pte Ltd (PSA) to supply various types of Terex stacking cranes. The orders include eighteen Terex rubber-tyred gantry cranes (RTG) and four Terex rail-mounted gantry cranes (RMG). The RTG order also includes an option on 18 additional units. The flexible, productive and environmentally friendly machines will be handed over in three batches of six units each of RTGs between September and November 2017 whilst the RMG cranes will be delivered to Mumbai in September 2017. The RMGs will be utilized in BMCT’s railyard, which can handle double stack container trains of up to 1.5 km long.

On August 18, a new container terminal built by NYK Line together with PT. Pelabuhan Indonesia II (Persero) (IPC), Mitsui & Co. Ltd. and PSA International Pte Ltd  opened for commercial service at Tanjung Priok Port in Jakarta, Indonesia. This new terminal will be operated by the newly established company PT New Priok Container Terminal One.   The terminal will have an annual handling capacity of approximately 1.5 million twenty-foot equivalent units (TEUs) of containers, an overall berth length of 850 meters and a 16-meter draft, allowing the terminal to accommodate advanced mega containerships.

Singapore-headquartered port operator PSA International Pte Ltd has set up a corporate venture capital arm, PSA unboXed, with an initial fund size of S$20 million ($14.66 million) to invest in startups. PSA said it would seek to invest in companies developing logistics solutions, including robotics and automation in container and cargo handling operations. "Through PSA unboXed, we want to encourage creative ideas that can improve and revamp logistics technology, increase port productivity and enhance the integration, security and performance across the constituents of global supply chain logistics," Group Chief Executive Tan Chong Meng said in a statement. PSA counts itself among the world's largest port groups, with involvement in around 40 terminals in 16 countries.

PSA International Pte Ltd today announced the inception of PSA unboXed Pte Ltd (PSA unboXed), its new corporate venture capital arm with an initial fund size of S$20 million. Through its incubator program, PSA unboXed seeks to invest in and nurture start-ups that are keen to create innovative logistics solutions fusing information and communications technology including IoT (Internet of Things), cloud, data analytics, AI (Artificial Intelligence) and optimisation, as well as engineering solutions including robotics and automation in container and cargo handling operations, and transaction solutions for the maritime trade and finance ecosystems. Mr Tan Chong Meng, Group CEO of PSA International, said, "The port is one of most important points of convergence in global supply chains.

International Container Terminal Services, Inc. (ICTSI) reported audited consolidated financial results for the year ended December 31, 2015 posting revenue from port operations of US$1.051 billion, one percent lower compared to US$1.061 billion the year earlier; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$450.0 million, two percent higher than the US$443.0 million generated the previous year; and reported Net Income attributable to equity holders of US$58.5 million, down 68 percent compared to the US$182.0 million earned in 2014. Diluted earnings per share for the period declined 85 percent to US$0.011 from US$0.075 in 2014.

PSA International Pte Ltd (PSA) handled 64.10 million Twenty-foot Equivalent Units (TEUs) of containers at its port projects around the world for the year ending 31 December 2015. The Group’s volume decreased by 2.0% over 2014, with flagship PSA Singapore Terminals contributing 30.62 million TEUs (-8.7%) and PSA terminals outside Singapore handling 33.48 million TEUs (+5.0%). Mr Tan Chong Meng, Group CEO of PSA, said, ‎"2015 was generally a tough year with weak trade growth reflecting unsteady global economic conditions. As such, we recorded lower overall throughput on a year-on-year basis, arising from volume reductions in a few of our terminals.

International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the first nine months of 2015 posting revenues from port operations of US$792.0 million, an increase of two percent over the US$779.2 million reported for the same period last year; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$339.5 million, four percent higher than the US$326.1 million generated in the first nine months of 2014, and net income attributable to equity holders of US$136.2 million, up 0.3% over the US$135.7 million earned in the same period last year. Diluted earnings per share for the period was one percent lower at US$0.0550 from US$0.0556 in 2014.

The Shipping Ministry, Government of India has named Anil Udhavrao Diggikar, a Maharashtra cadre Indian Administrative Service (IAS) officer of the 1990 batch, as the new chairman of the state-owned Jawaharlal Nehru Port Trust (JNPT). AT present Mr Diggikar is the vice chairman and managing director of the Maharashtra State Road Development Corp. Ltd. The port will be having a Chairman after a long gap as the port did not have a fulltime chairman even since N.N. Kumar demitted office in March this year. JN port is the largest container port in India having handled 4.467 million TEUs for the year ended 31st March 2015 the highest since it was opened in 1989. Overall, the port handled 63.80 million tonnes of cargo in 2014-15, up 2.36% compared with 62.33 million tonnes a year ago.

International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the first half of 2015, posting revenue from port operations of US$552.1million, an increase of eight percent over the US$510.3 million reported for the same period last year; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$237.4 million, 12 percent higher than the US$212.2 million generated in the first six months of 2014; and net income attributable to equity holders of US$100.4 million, down one percent over the US$101.7 million earned in the same period last year. Diluted earnings per share for the period was likewise lower by one percent to US$0.042, from US$0.043 in 2014.

International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the quarter ended March 31, 2015 posting revenue from port operations of US$296.1 million, an increase of 19 percent over the US$248.9 million reported for the same period last year, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$127.5 million, 23 percent higher than the US$103.6 million generated in the first quarter of 2014, and net income attributable to equity holders of US$54.0 million, up three percent over the US$52.4 million earned in the same period last year. The increase in net income was mainly driven by continued margin improvement at Contecon Manzanillo S.A. (CMSA) in Manzanillo, Mexico and Operadora Portuaria Centroamericana, S.A.

PSA International Pte Ltd (PSA) won the “Best Global Container Terminal Operating Company” award for the ninth year, and PSA Singapore Terminals was voted “Best Container Terminal – Asia (over 4 million TEUs per year)” for the 25 time at the 28th Asian Freight & Supply Chain Awards(AFSCA) held in Shanghai this evening. On winning these awards, Mr Fock Siew Wah, Group Chairman of PSA International, said, “We are honoured to receive these awards and humbled by our industry’s continuing vote of confidence in PSA. Mr Tan Chong Meng, Group CEO of PSA International, said, “On behalf of our management, staff, and unions of the PSA Group, I wish to thank all our customers and business partners for their continued trust and support.

PT. Pelabuhan Indonesia II (Persero) (“IPC”), Mitsui & Co, Ltd. (“Mitsui”), Nippon Yusen Kabushiki Kaisha (“NYK Line”) and PSA International Pte Ltd (“PSA”) have agreed to jointly participate in the construction and operation of a new container terminal at Tanjung Priok Port, Jakarta, Indonesia. This new terminal will be developed and operated by the newly established project company PT New Priok Container Terminal One (“NPCT1”). The Republic of Indonesia has in recent years experienced dramatic economic growth accompanied by a rapid increase in container traffic. Jakarta’s Tanjung Priok Port is the most important and largest port in Indonesia, handling the majority of Indonesia’s international container traffic.

PSA International Pte Ltd (PSA) handled 65.44 million Twenty-foot Equivalent Units (TEUs) of containers at its port projects around the world for the year ending 31 December 2014. The Group’s volume increased by 5.8% over 2013 with the flagship PSA Singapore Terminals contributing 33.55 million TEUs (+4.1%) and PSA terminals outside Singapore handling 31.89 million TEUs (+7.8%). Mr Tan Chong Meng, Group CEO of PSA, said, “Last year was challenging for the shipping and port industry. Global trade growth was modest and that, coupled with the introduction of many mega vessels, resulted in overcapacity and low freight rates for liner carriers.