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Monthly Archives: May 2015

Maersk and CMA CGM to increase freight rates by up to $1,000 per teu

Maersk Line has announced a freight rate hike of US$800 per teu while CMA CGM intends to up its rates by US$1,000 per teu on the Asia-Europe trade from 1 June. This goes against the grain since total weekly capacity in the Asia-Europe trades is projected to increase by 9.1% in 2015 according to Alphaliner. Maersk has significant influence in ... Read More »

April’s West Coast volumes down from March’s highs

Volumes at Seattle and Tacoma were down from March's highs

Container volumes on the West Coast of the USA fell in April from March’s high levels. At the country’s biggest port, Los Angeles, throughput fell by 11.8% from March 2015 and by 6.1% year-on-year. This is perhaps a sign that the backlog of cargo from last year’s strike has finally cleared but that the lost business has not yet returned. In a ... Read More »

Australia set to privatise Fremantle port

Australia’s Fremantle Port is to be sold as part of a state sale from the Western Australian government in a deal estimated to be worth AU$5bn (US$4bn) it has been announced. The decision to sell the container terminal and general cargo port was proposed as part of the state budget on May 15. The announcement follows the government’s decision last ... Read More »

Mombasa terminal construction ahead of schedule

The Port of Mombassa is targeting a 1.2m teu throughput in 2015

The construction of the second container terminal at the Port of Mombasa looks set to be completed early. On March 19, a spokesperson for the Kenya Ports Authority (KPA) told The Star that the first phase of the Sh27bn (US$280m) terminal is expected to be complete a month or two earlier than March 2016, the previous scheduled opening date. The ... Read More »

CMA CGM celebrates Q1 results and credit rating upgrade

The world’s third largest shipping company CMA CGM has released impressive first quarter results, just one week after credit rating agency Moody’s upgraded its credit rating from B2 to B1. “Our decision to upgrade CMA CGM’s ratings reflects the company’s continued robust operating performance and resulting improvements to its financial profile,” said Marie Fischer-Sabatie, a Moody’s Senior Vice President and ... Read More »

Deals signed and ban on Chinese cranes lifted as Modi visits China

Li Keqiang and Narendra Modi take a selfie during their meeting

India has lifted the ban on Chinese cranes at its ports, coinciding with Prime Minister Narendra Modi’s diplomatic visit to the rival superpower. “We have received the permission from the defence ministry to use these cranes in our ports now. We have given them all assurance,” a senior shipping ministry official told the Economic Times. “There were apprehensions that the ... Read More »

IMO shelves Marshall Islands’ call for global CO2 emissions target

A meeting of the Marine Environment Protection Committee (MEPC) of the International Maritime Organisation has decided not to accept a proposal to limit shipping’s carbon dioxide (CO2) emissions. The proposal was made by the Marshall Islands, one of the countries most threatened by climate change. Its foreign minister Tony de Brum said: “We present our proposal so that global shipping ... Read More »

Port of Callao hit by workers strike

The Port of Callao in Peru, is experiencing labour strikes

APM Terminals (APMT) has announced that the Port of Callao will endure a labour strike as a direct response to port workers’ management concerns. Tom Boyd a spokesperson at APMT confirmed to IHS Maritime that the ‘indefinite’ strike at the general cargo facility in Peru had began on May 13. The International Transport Workers’ Federation (ITF) has voiced support of ... Read More »

Terex Port Solutions obtains order for 21 cranes

Terex Port Solutions has received an order for 21 harbour cranes

Terex Port Solutions (TPS) has received a combined order for 21 Terex Gottwald harbour cranes from five separate continents, in the company’s first yearly quarter. In the first quarter of 2015, 21 machines, including two floating cranes for mid-stream bulk handling to the USA, were ordered between the start of the year and March. Giuseppe Di Lisa, vice president sales and ... Read More »