DP World Jeddah Upgrades to Navis N4
Navis, a part of Cargotec Corporation, announced that DP World Jeddah has upgraded from Navis SPARCS to N4 3.5 terminal operating system (TOS). The implementation of the updated TOS is a move by the terminal to leverage the latest technology to meet continuous customer service demands and address the need for increasing operational support as incoming cargo volume rises. DP World operates the South Container Terminal (SCT) at Jeddah Islamic Port, a crucial link in the world’s busiest East-West trade routes through the Red Sea and catering to a rich domestic cargo base. The port is the main import destination for Saudi Arabia, handling 59 percent of its imports by sea and serving its main commercial centers.
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.
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.
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.
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)
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…
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…
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…
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%.
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.
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…
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.
Horizon Lines to Meet in Charlotte in June
Horizon Lines Sets Date for Annual Meeting of Stockholders. Horizon Lines, Inc. (OTCQB: HRZL) today announced that it has established a record date for its 2012 annual meeting of stockholders. The company's stockholders of record at the close of business on April 9, 2012, will be entitled to notice of the annual meeting and to vote upon matters considered at the meeting. The annual meeting will be held in Charlotte, North Carolina, on Thursday, June 7, 2012. Additional information regarding the annual meeting will be provided in the company's Notice of Annual Meeting…
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.
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.
Horizon Makes $7.5m Debt Payment
Horizon Lines, Inc. (NYSE: HRZ), announced that it has made another voluntary debt reduction payment of $7.5m on its revolving credit facility. The payment is the third made by Horizon Lines in its fiscal fourth quarter and brings the total voluntary debt reduction to $17.5m for the quarter and to $40m since the second quarter. The principal payment reduces borrowings on its $250m revolving credit facility to $140m, and total debt outstanding to $590.5m. “Cash flow in the fourth quarter remains strong, even more so than we expected, and as a result we are repaying another $7.5m of debt today, which is more than we previously planned,” said Mike Avara, Senior Vice President and Chief Financial Officer.
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…
EDF Offers Long-term LNG Regas Capacity at Dunkirk Terminal
Electricite de France (EDF) has offered up to three billion cubic metres of annual regasification capacity at the Dunkirk liquefied natural gas (LNG) import terminal for 18 years from Jan. 1, 2019, it said in a market notice. The terminal's remaining 10 bcm/year capacity has already been booked by shippers, EDF said. Long-term capacity is offered on a ship-or-pay basis. Subscribers will acquire firm rights to slots, LNG storage and send-out capacity, as well as the ability to re-load imported LNG for onward export.
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.
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…
Customs Control Zone at Yanino Logistics Park
Terminal’s links extended to ports of neighbouring states including EU and APEC countries. Global Ports has announced that a Permanent Customs Control Zone (PZTK) has been put into operation to join the sidings of the Logistics Park at Yanino (“Yanino” or the “Logistics Park”) and Zanevsky Post, the adjacent station of the St. Petersburg branch of Oktyabrskaya Railway. The relevant license for operation has been signed by the Baltic Customs of the Russian Federation. Now Yanino…
Maersk Line Service to UMM Qasr, Iraq
As new opportunities for foreign trade arise, importers and exporters in Iraq are calling for more reliable cargo transport services to neighboring countries - with the regular, on-time port calls and professional terminal services international traders require to grow their business. Now, Maersk Line offers a new dedicated feeder service between Jebel Ali (UAE) and Umm Qasr (South Port terminal), linking Iraq to trading partners in the region and beyond. The new service offers major improvements over existing services. A Maersk-owned US Flag vessel will be deployed on the rotation, offering all the operational reliability you expect from Maersk Line. And our own dedicated, scheduled berthing facility will ensure on-time port calls and reduce the risk of delays.
Alabama State Port Authority Far East Service
The Alabama State Port Authority and Mobile Container Terminal, LLC announced a new all-water container service between the Port of Mobile and Far East. CMA CGM added the Ports of Mobile and Pusan, Korean to its PEX3 service between the U.S. Gulf of Mexico and Asia. CMA CGM, through its division, Terminal Link, is a partner in the 18 month-old Mobile Container Terminal at the Port of Mobile. In 2005, CMA CGM’s division Terminal Link, APM Terminals Americas, a subsidiary of the A.P.