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Monthly Archives: April 2016

Safety study raises concerns over Panama locks

The expanded Panama Canal will be officially inaugurated on June 26

A new independent safety study  raising concerns over Panama Canal’s new locks has been dismissed by the Panama Canal Authority (ACP). The report, which was commissioned by the International Transport Workers’ Federation (ITF), claimed that the new locks are too small for safe operation (with both gates closed), adding that their dimensions, the lack of refuge areas for the tugboats inside them, and an ... Read More »

Terex announces job cuts after tough quarter

Slow container traffic growth hit demand for Terex's port equipment

After a loss-making start to the year, Terex is to cut 670 jobs across all segments in a bid to produce annualised cost savings of US$60m. Of the total, 40% will be realised in 2016 while specifically 7% of jobs in selling, general and administrative (SG&A) expenses will be lost. As much as US$30m per year in savings is to ... Read More »

Konecranes announces fall in sales and order intake

Finnish equipment manufacturer Konecranes has recorded an 18% fall in its order intake and 3% drop in sales in the first quarter of 2016. The company’s sales went down to €459m (US$520m) in the first three months of 2016 from €475m (US$538m) in the same period last year, while its order intake dropped from €519m (US$587m) to €425m (US$481m) due ... Read More »

Eurogate wins Limassol container terminal concession

A consortium led by German terminal operator Eurogate has signed a contract to operate a container terminal in Limassol Port, Cyprus, following the privatisation of the port facilities. Eurogate will own 60% of the facilities, which will be known under the name Eurogate Container Terminal Limassol Ltd, while its consortium partners Interorient Navigation Company Ltd. and East Med Holdings S.A. ... Read More »

Hanjin’s former chair investigated as carrier applies for debt restructuring

Hyundai Merchant Marine is interested in acquiring Hanjin's assets

South Korea’s biggest container carrier Hanjin Shipping has applied for a debt restructuring agreement with creditors as its former chairwoman and her two daughters are under investigation for alleged insider trading. Choi Yoo-kyung and her two daughters are suspected of using inside information while selling their entire stake in Hanjin days before the company announced its decision to file for bank receivership. The ... Read More »

10,000 teu vessels to visit Panama Canal from summer

The Panama Canal's expansion is scheduled to be inaugurated on June 26

The G6 alliance has announced a new service using 10,000 teu vessels which will pass through the Panama Canal starting from this summer. The NYX service will set sail from Qingdao, China, during week 23 of this year (week beginning June 6), heading to Ningbo, Shanghai and Busan before navigating the canal. Vessels following similar sailings appear to take around ... Read More »

New containers for live lobster transport

CMA CGM has launched a new generation of containers designed to ship live lobsters safely by sea in conditions maintaining their natural habitat. The Aquaviva containers will allow live lobsters to be shipped by sea in their original water replicating their natural living conditions. Prior to the new products’ launch, live lobsters were carried either frozen by sea or alive ... Read More »

IMO delays action on carbon reduction

Environmental campaigners have criticised International Maritime Organisation (IMO) member states for failing to agree a work plan to establish carbon dioxide reductions. The proposed carbon reduction plan was discussed by members of the IMO’s marine environment protection committee in London in April. The proposal aimed to develop a ‘fair share’ contribution to the Paris agreement’s goal of limiting temperature increases ... Read More »

HHLA orders Kalmar’s electric straddle carriers

The new units will be used to transport containers from STS cranes to ASCs

Kalmar has received an order for nine diesel-electric straddle carriers from German terminal operator Hamburger Hafen und Logistik AG (HHLA). The new ESC350 electric straddle carriers will be used to transport containers from ship-to-shore cranes (STSs) to automatic stacking cranes (ASCs) at the HHLA-operated Container Terminal Burchardkai (CTB) at the port of Hamburg. The new units, which are claimed to ... Read More »