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Monthly Archives: April 2016

World Bank loans US$40m to Myanmar Industrial Port

Myanmar Industrial Port (MIP) is set to receive a US$40m loan from the International Finance Corporation (IFC), part of the World Bank Group. The loan takes the form of mezzanine financing, meaning the IFC can convert the loan into ownership of MIP if it is not paid back in time and in full. The terminal, which handles around 40% of ... Read More »

Hapag-Lloyd and UASC in merger talks

Hapag-Lloyd and United Arab Shipping Company (UASC) are currently holding merger talks, the German shipping line has confirmed. The carriers are “discussing forms of cooperation including a potential combination of their mutual container shipping operations” according to a statement from the Hamburg-based firm. “In case of a business combination, the parties are basing their discussions on a relative valuation of ... Read More »

Hamburg Süd: Containerisation almost “complete”

With containerised sea transport growing by only 1% in the past fiscal year, weak prospects for further containerisation are fuelling Hamburg Süd’s pessimism for future growth. A statement from the German carrier noted: “It can be assumed that the international division of labour is no longer rising and the containerisation of general cargo is largely complete.” Due to global overcapacity, ... Read More »

Transnet to prioritise consumer goods after China’s slowdown

Siyabonga Gama outlined his vision for Transnet's reforms

Transnet’s new CEO Siyabonga Gama has set out plans to reform the state-owned company as South Africa’s commodity exports suffer from China’s slowdown. The port, railway and pipeline operator will focus in future more on fast-moving consumer goods and less on commodities. “For a long time, we have relied on the voracious Chinese appetite for commodities that we move,” Gama ... Read More »

New alliance formed as shake-up begins

CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line (OOCL) have signed a memorandum of understanding (MoU) to form the Ocean Alliance, thus heralding a transformation of existing alliance structures. Subject to regulatory approvals of competent authorities, the new alliance plans to begin operations in April 2017 with an initial period of five years. The deal constitutes ... Read More »

Hutchison volumes down at Hong Kong and Shenzhen

Container handling volumes at Hutchison Port Holdings Trust’s (HPH) deep-water ports decreased by 8% in the first three months of 2016 as global economic problems and shipping alliance alignments hurt the company’s business. Combined throughput at its HIT, COSCO-HIT and ACT facilities in Hong Kong dropped by 13% year-on-year to 2.5m teu while throughput at Yantian International Container Terminals (YICT) ... Read More »

Prosecutors accuse Quetzal director of corruption

Juan Jose Suarez Meseguer has been arrested

The director of Terminal de Contenedores Quetzal (TCQ), Juan Jose Suarez Meseguer, has been arrested on suspicion of using bribery to obtain the terminal’s concession in 2012. Prosecutors suspect that a US$25m bribe was paid to various figures including the country’s then-president Otto Molina, his son Gustavo Luna and vice-president Roxana Baldetti. Luna has been arrested and Molina and Baldetti ... Read More »

India sets out maritime strategy

Indian prime minister Narendra Modi with a copy of the plan

Last week’s Maritime India Summit saw the launch of India’s National Perspective Plan (NPP) featuring proposals for six to eight new ports, over 40 port-capacity enhancement projects and more than 80 port connectivity projects amongst others. Aiming to reduce trade costs, Sagarmala, the government’s program to promote port-led development hopes to produce annual logistics cost savings of close to INR ... Read More »

DP World to enforce tougher pollution control at Jebel Ali

DP World has signed a Memorandum of Understanding (MoU) with the regulatory arm of Ports, Customs and Free Zone Corporation (PCFC) in Dubai to tackle liquid pollution at its flagship Jebel Ali Port. According to the agreement, which was signed by DP World Arab Emirates (UAE) region and Trakhees-PCFC, the terminal operator will enforce the International Convention for the Prevention ... Read More »