Fitch: US Ports Exposed to Shippers via Terminal Operators
Hanjin Shipping's and Outer Harbor Terminal's (OHT) bankruptcies this year have raised questions about the legal separation of joint venture terminal operators that are often lease counterparties for U.S. ports, Fitch Ratings says. These events highlight potential risks that must be balanced against the benefits of ports signing lease or concession agreements. Global carrier Hanjin's bankruptcy has exposed the possibility that terminal operating companies, which are often structured as joint ventures (JVs) between shipping counterparties or private equity firms…
Hapag-Lloyd Connects First Ship to Shore Power
Connection in US Port of Oakland, California / Initially a total of 15 Hapag-Lloyd ships receive environmentally-friendly technology / Intelligent, flexible solutions retrofitting existing fleet. With the arrival of the “Dallas Express” in the Port of Oakland in California, last weekend, Hapag-Lloyd has for the first time connected one of its ships to shore-based power. Shore Power (also known as “cold-ironing”) is a ship-to-shore connection that provides electrical power to the ship. By using this connection the auxiliary engines normally used to provide power on board can be switched off, reducing diesel and other air pollutant emissions from ships while they are at berth. Other ports around the world are also working on shore-based power systems.
