KFTL Hits Container Moves Milestone
Kingston Freeport Terminal Ltd (KFTL), a Jamaican consortium formed by French global terminals operator CMA CGM and its majority-owned subsidiary Terminal Link, said it recorded the best performance ever in the history of the port of Kingston in terms of container moves.Kingston Freeport, which has leased Kingston Container Terminal, KCT, under a 30-year concession, said a total of 3,304 moves were handled within 24 hours of operation on the Post-Panamax vessel Cosco Beijing, which arrived at the terminal on January 24.
GMP Terminal de France Contracts Kalmar for Capacity Expansion
Kalmar, part of Cargotec, has been awarded a contract to heighten four ZPMC ship-to-shore (STS) cranes operated by Generale de Manutention Portuaire (GMP), a joint venture between DP World and Terminal Link (CMA-CGM), located in the port of Le Havre.The order was booked in Cargotec's 2018 second quarter order intake, and the project is scheduled to commence in the 3rd quarter of 2018.Guy Sansone, Technical Director, GMP: "The decision to partner with Kalmar was placed mainly because of their proven track record and the technical expertise of their dedicated crane upgrades team.
Greece Concludes Sale of 67% Stake in Thessaloniki Port
Greece concluded the sale of 67 percent stake in Thessaloniki port, the country's second-largest, to a German-led consortium, its privatisations agency (HRADF) said on Friday. Deutsche Invest and its partners, France's Terminal Link SAS and Cyprus-based Belterra Investments, signed the deal in December. The sale is part of a privatisation scheme Greece has agreed under its latest international bailout. The deal is worth 1.1 billion euros, HRADF said, and the consortium has already…
Deutsche Invest Highest Bidder for Thessaloniki Port
German private equity firm Deutsche Invest Equity Partners was the highest bidder for a majority stake in Greece's Thessaloniki Port with an offer of 231.9 million euros ($251.8 million), privatisation agency HRADF said on Monday. The sale is a key part of the country's international bailout signed in 2015 and comes less than a year after China's COSCO Shipping bought a 51 percent stake in Piraeus Port, Greece's biggest, for 280.5 million euros. The bid for Greece's second-largest port by Deutsche Invest Equity Partners…
Greece Gets Three Improved Bids For Thessaloniki Port Sale
Greece received three improved binding financial bids for a majority stake in Thessaloniki Port , its second-largest, the country's privatisation agency (HRADF) said on Friday. Last month HRADF got three bids for a 67 percent stake in Thessaloniki Port. The bids were submitted by Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners, jointly with France's Terminal Link SAS. After unsealing the financial offers this month, HRADF asked the suitors to improve them by April 21. The improved offers will be unsealed at a board meeting on April 24, HRADF said. The current market value of the stake on sale is 138.8 million euros.
Greece Calls for Improved Thessaloniki Port Bids
Hellenic Republic Asset Development Fund (HRADF) asked for improved financial bids from short-listed investors seeking to buy a majority stake in its second-largest port, reports Reuters. Greece’s privatization agency (TAIPED) got three offers last month for the sale of a 67 percent stake in Thessaloniki Port, which is required as part of Greece’s international bailout. The investors are Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners…
Greece Asks Investors to Improve Bids for Thessaloniki Port Sale
Greece's privatisation agency (HRADF) asked on Friday for improved financial bids from shortlisted investors seeking to buy a majority stake in its second-largest port. Athens got last month three offers for the sale of a 67 percent stake in Thessaloniki Port, which is required as part of its international bailout. The investors are Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners which is bidding jointly with France's Terminal Link SAS. (Reporting by Angeliki Koutantou)
CMA CGM-led Consortium Win Box Terminal Bid
The consortium formed by CMA CGM, Bolloré and CHEC won the bid process initiated by the Cameroonian government Following the bidding procedure initiated by the Cameroonian government, the consortium formed by the French companies - CMA CGM and Bolloré - and the Chinese CHEC (China Harbour Engineering Company) won the 25 years concession. The Cameroonian government has chosen a French-Chinese consortium offering all the technical and financial guarantees. It is composed of CMA…
China, France Sign deal Shipping
Industrial cooperation is high on the agenda during Premier Li Keqiang's stay in France. China's deals with the world's third largest container shipping group - CMA CGM was highlight. "July 1st will be a milestone in our Group’s history. The Chinese Prime Minister’s visit is a great recognition of the unique links our Group has developed with China, a strategic country in the Group’s development history. Those two agreements signature reinforces those links and offer new perspectives. We are proud of the honor and of the confidence that this visit demonstrates," said Jacques R.
CMA CGM profits up 43%
French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth in volume and significantly reduced costs. Consolidated operating revenue for the company increased by 5.3% in 2014, compared with the previous year, to $16.7bn on an 8.1% volume increase to 12.2m teu, which CMA CGM said was mainly attributable to east-west gains. Volumes carried rose by 8.1% year on year (y/y) to 12.2 million teu and revenues increased 5.3% to USD16.7 billion.
Sri Lanka Port Project: China Merchants, CHEC Invest $601-M
Two of China's largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka's Hambantota port, part of a series of deals signed during a visit by President Xi Jinping to the island nation. Keen to establish its presence in the Indian Ocean, China has spent millions of dollars building ports and roads across the region in a strategy dubbed the String of Pearls. China Merchants Holdings said in a statement late on Tuesday that it and China Harbour Engineering Company (CHEC), a subsidiary of China Communications Construction Group , had entered a joint venture with the Sri Lanka Ports Authority to develop and operate a container terminal for the Hambantota Port Development.
CMA CGM Continues Expansion, Confirms Profits
The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2014. In the second quarter, in a market environment shaped by diverging developments in different regions, CMA CGM reported its consolidated revenue amounted to $4.2 billion, up 3.7% year-on-year, volumes carried increased by 8% to 3.1 million TEUs, and average revenue per TEU decreased by 3.9% over the period.
CMA CGM Reports Solid Performance in 2013
The Board of Directors of France’s CMA CGM, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the year ended December 31, 2013. “In 2013, in a difficult market, we successfully reduced our costs while increasing our volumes carried much faster than the market, enabling us to report one of the industry’s best financial performances, “Saadé, said. “In this way, year after year, we are reinforcing our position as the world’s third largest container shipping company.
Moody's Upgrades CMA CGM's Financial Outlook
Moody's Investors Service has upgraded CMA CGM S.A.'s corporate family rating (CFR) to B2 from B3 and the company's probability of default rating to B2-PD from B3-PD. Concurrently, the rating agency has upgraded to Caa1 (LGD5/84) from Caa2 (LGD5/80) CMA CGM's EUR325 million and $475 million worth of senior unsecured notes maturing in 2019 and 2017, respectively. The outlook on the ratings is stable. "We have upgraded CMA CGM's rating to B2 to recognize the return of the company…
CMA CGM Reports Q2 Operating Performance
The Board of Directors of France’s CMA CGM container shipping group met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter 2013. In the second quarter, consolidated revenue amounted to $4 billion, up 5.6% over the first quarter and down 2.4% year-on-year. The year-on-year decline reflected a 6.9% increase in volumes carried, to 2.9 million TEUs, even as the Group’s average freight rate shrank 8.6% over the period, amid an even sharper contraction in the industry as a whole. During the period, CMA CGM reported $418 million in consolidated EBIT, up 7% year-on-year.
China Merchants' Guestimate Container Terminal Growth
China Merchants Holdings (International) Company recently held its AGM in Hong Kong and the Vice-Chairman predicted figures in the company's container terminal operation interests. The Company's Vice Chairman Li Jianhong, Managing Director Hu Jianhua, Deputy Managing Director Zheng Shaoping and Deputy General Manager & CFO Zhang Rizhong were interviewed by journalists after the AGM. Mr. Li Jianhong said: "This year from January to May, the company's container throughput growth is higher in north than south. The Mainland China and overseas overall growth is 9.2%.
China Merchants Holdings Complete Terminal Link Deal
China Merchants Holdings (International) announce completed acquisition of a 49% stake in container port operators Terminal Link from CMA CGM. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates," reflects the recognition and consent to the transaction from the governments from whose regulatory units consents and approvals were obtained. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates…
CMHI and CMA CGM Complete Terminal Link Transaction
China Merchants Holdings (International) Company Limited (CMHI) and CMA CGM are pleased to announce the completion on June 11, 2013 of the sale and purchase of the 49% equity stake in Terminal Link, upon the obtaining of all consents and approvals in various jurisdictions and the completion of certain pre-closing corporate reorganizations as stipulated under the terms of the Acquisition Agreement. CMHI's intention to acquire from CMA CGM 49% equity interest in Terminal Link for €400 million was announced earlier in January. The Completion was formalised by the signing by both parties of a Shareholders Agreement. Among the many guests attended the signing ceremony in Luxembourg of the Shareholders Agreement were CMA CGM Executive Officer Farid Salem…
Rotterdam Expands Intermodal Container Service
The CLIP Container terminal at Swarzedz (near Poznan), Poland has joined InlandLinks, the hinterland container terminal link-up. Rotterdam expects to see container flows triple in the next 25 years. Due to the growth in world trade, the favourable geographic location and the increase in very large container ships, each with a capacity in the region of 20,000 units. Of the total of some 30 million TEU handled in 2035, approx. 2 million are expected to be shipped in and out using smaller vessels from and to European ports. Some 18 million TEU will travel to and from the hinterland via intermodal transport. This Polish addion brings the total number of terminals to 35: 27 in the Netherlands, 4 in Germany, 3 in Belgium and 1 in Poland.
CMA CGM 2012 Resullts
The Board of Directors of France’s CMA CGM met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the year ended 31 December 2012. Consolidated revenue rose by 7% in 2012, to $15.9 billion from $14.9 billion in 2011, led by the 6% growth in volumes carried, to 10.6 million TEUs from 10.0 million in 2011. During the year, CMA CGM implemented its action plan, generating a reported $800 million savings, well ahead of the initial target. As a result, EBITDA improved by a sharp 82% year-on-year to $ 1,324 million, for an operating margin (EBIT) of 6.3%, the industry’s highest (as yet announced). Consolidated net profit stood at $361 million for the year. Signing of the sale of 49% of Terminal Link for € 400m.
CMA CGM Completes Financial Restructuring
Closing of the agreement with its Banks regarding its debt restructuring. This agreement provides for a new covenant package taking into account the industry’s volatility and a partial refinancing of a credit line maturing in 2013 into new secured term loans of a maturity of more than 3 years for a total amount of EUR 280 million . Signing of a binding agreement with the French Fonds Stratégique d’Investissement who at closing, expected within 3 months, will subscribe to bonds redeemable in shares for an amount of US$150 million giving right to a 6% stake in CMA CGM upon conversion. Closing of the subscription, under the terms of the existing agreement, by the Yildirim Group of bonds redeemable in shares for an amount of US$100 million giving right to a 4% stake in CMA CGM upon conversion.
Container Terminal Operators 2012 League Table & Forecast
Measured by equity TEU, there is no change in the order & ranking of the top five international container terminal operators. PSA (Port of Singapore Authority) was again the leading operator in terms of equity TEU ahead of Hutchison (HPH), but by a much reduced margin following the divestment by PSA of its interests in HPH’s Hong Kong terminals. There is now a difference of only just over 4 million TEU in Drewry’s assessment of PSA and HPH’s equity TEU throughput. DP World and APM Terminals are closely matched in third and fourth spots whilst the COSCO Group’s throughput remains somewhat less than that of the top 4 players. The big four global operators collectively accounted for 26.5% of world container port throughput…
Global Terminal Operators Remain Dynamic
Drewry Maritime Research’s latest Annual Review of Global Container Terminal Operators report shows that whilst some things have remained the same, others have changed significantly with more change to come. Measured by equity teu, there is no change in the order and ranking of the top five operators. PSA was again the leading operator in terms of equity teu ahead of Hutchison (HPH), but by a much reduced margin following the divestment by PSA of its interests in HPH’s Hong Kong terminals. There is now a difference of only just over 4 million teu in Drewry’s assessment of PSA and HPH’s equity teu throughput. DP World and APM Terminals are closely matched in third and fourth spots whilst the COSCO Group’s throughput remains somewhat less than that of the top 4 players.