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Monthly Archives: March 2016

UK port industry calls to vote against EU ports regulation

The revised legislation was drawn up by Knut Fleckenstein

Representatives from UK port operator Associated British Ports (ABP) and union Unite have travelled to Strasbourg to argue against proposals for EU ports regulation one day before voting on a directive will take place. The European Parliament voted against EU ports legislation twice in the past, but on March 8, MEPs are due to vote on a revised EU Ports ... Read More »

Hyundai plans measures to reduce capital as chairwoman resigns

The Hyundai Group’s shipping segment Hyundai Merchant Marine (HMM) has announced the decision to consolidate shares on a 1-for-7 basis as the group’s chairwoman is to resign, local media reported. The South Korean line HMM is expected to reduce its capital by 85% from 1.2 trn won (US$1bn) to 173.2bn won (US$145m) as from April 21, 2016 in attempt to ... Read More »

CMA CGM set to bring megaships to US West Coast

CMA CGM sent the Benjamin Franklin to the West Coast in December last year

CMA CGM has announced plans to regularly use six 18,000 teu ships on its service between Asia and the US West Coast (USWC). In December 2015, the company sent the 17,859 teu Benjamin Franklin to the West Coast in what appears now to have been a successful test run. From May 2016, this ship will be joined by five others ... Read More »

Exclusive: Panama VP questions Nicaragua Canal cost effectiveness

Isabel de Saint Malo de Alvarado, Panama's vice president and foreign minister

Panama’s vice president and foreign minister, Isabel de Saint Malo de Alvarado, has fuelled doubts over the viability of the Nicaragua Canal project, claiming further Panama Canal expansions would be more cost effective. Speaking at the London School of Economics, she said: “We could build a third, fourth, fifth expansion at a cost much much lower than it would cost ... Read More »

Court rejects claims that DP World bribed former Djibouti ports’ head

The London Commercial Court has dismissed the allegations made by the Republic of Djibouti that the former head of its port authority was bribed by DP World and negotiated secret shareholdings over the construction and development of a port and freezone complex at Doraleh. The country’s government accused Abdourahman Boreh of having accepted bribes by DP World to give the ... Read More »

Black Sea throughput falls

The throughput of laden containers at Black Sea ports has fallen by 12% in 2015, a report by analyst Informall BG has shown. This decrease was led by Ukrainian ports, which suffered a 26% fall in throughput, followed by Russia and Georgia whose throughputs both dropped by 13%. On the other hand, volumes at ports in Bulgaria and Romania, increased ... Read More »

Gothenburg set to build a new terminal

The new terminal (dark-gray area) is expected to be completed after 2020 (Photo: Port of Gothenburg)

The Port of Gothenburg, Sweden, has announced the construction of a new freight terminal to be completed after 2020 to handle the increase in demand for sea transport via the port. The port said that it had yet to decide what type of goods will be handled at the new terminal, which could be aimed at handling containers, rolling goods ... Read More »

India announces plans to build new ports

The Indian government has announced that it will invest Rs 800 crore (US$118m) for the development of new ports and ongoing work on its National Waterways project during the next fiscal year. The country’s finance minister Arun Jaitley said in a speech presenting the 2016-17 fiscal budget that the government has plans to develop new greenfield ports on both the ... Read More »

Konecranes positive on port equipment results

Panu Routila said that 2015 was another challenging year for Konecranes

Konecranes has claimed that its ports and lift trucks businesses have developed well in 2015 despite its general equipment profits falling dramatically. Excluding restructuring costs, the company’s equipment-based operating profit (EBIT) fell by 27.7% from €47m (US$51) to €34m (US$37m). This was despite a 1.5% increase in net sales and a series of cost-cutting measures. However, the company made a ... Read More »