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Monthly Archives: November 2016

Drewry: Asia-West Africa trade needs capacity rationalisation

Southbound Asia to West Africa container traffic ('000 teu) Source: Drewry

Capacity rationalisation in the Asia-West Africa trade is needed in order to achieve a freight recovery, analyst Drewry has argued. Although the third quarter is traditionally one of the strongest periods of the year, the trade saw an unexpectedly steep fall of 19% in volumes in the three months ended September 2016, representing the seventh consecutive quarter with a negative ... Read More »

Philippines approves new Cebu port project

The Philippine government has approved a project to build the New Cebu International Container Port. Construction works on the new facility, which is expected to cost approximately 9.2bn Philippine pesos (US$185m), are expected to start in the third quarter of 2017 with completion scheduled for the second quarter of 2020. The new port, which is set to have a capacity ... Read More »

Montréal launches new container terminal

The new terminal will be operated by Termont Montréal Inc

The Port of Montréal, Canada, has officially inaugurated a new container terminal in its Viau sector. The new Viau container facility, which will be operated by Termont Montréal Inc, will increase the port’s handling capacity by 450,000 teu. The entire Viau project, which includes construction works already carried out as well as a second phase expected to completed in the ... Read More »

Konecranes wins its largest ever deal

A 3D model of a Konecranes ASC

Finnish equipment manufacturer Konecranes has announced that it signed its largest ever deal with the Port of Virginia. The company will deliver a total of 86 automated stacking cranes (ASCs) to the Virginia Port Authority (VPA) in two contracts for a total of over €200m. The order includes a first contract for 60 ASCs for the port’s Norfolk International Terminals ... Read More »

CMA CGM suffers heavy loss in third quarter

CMA CGM has reported a US$268m loss in the third quarter of 2016, compared to a US$51m profit recorded in the same period last year. Excluding Neptune Orient Lines (NOL), of which CMA CGM assumed control in June 2016, the company recorded a US$202m loss in the third quarter of the year. Excluding the recently-acquired company, revenue fell by 16% ... Read More »

Terex to deliver new crane to Genoa

Terex Port Solutions (TPS) has announced that one Terex Gottwald Model 8 mobile harbor crane will start operations in Spinelli S.r.l’s terminal at the Port of Genoa, Italy. The crane, which will be delivered in the G HMK 8610 two-rope variant, will be the largest crane from TPS operational in Italy. According to the manufacturer, the crane is expected to ... Read More »

NYK group buys 20% stake in Maher Terminals

Deutsche Bank acquired the terminal in 2007

The NYK group has announced that its port operating subsidiary acquired a 20% share in the Port of New York/New Jersey’s Maher Terminals together with investment fund Macquarie Infrastructure Partners III (MIP III). MIP III, which is a diversified, closed end fund which focuses on investments in infrastructure and related assets in the US and Canada, has a minority stake ... Read More »

Hamburg reports no growth in container traffic

Container traffic went up by just 0.1% year-on-year

The Port of Hamburg, Germany, has announced that its container volumes remained stable in the first nine months of 2016. Throughput went down by a negligible 0.1%, almost unchanged from the 6.7m teu handled in the first nine months of 2015, with containerised cargo going up by just 0.4% to 69.3 tons. Axel Mattern, joint CEO of Port of Hamburg ... Read More »

Korea Line preferred bidder for Hanjin’s Asia-US operations

South Korean shipping company Korea Line has been chosen as the preferred bidder over Hyundai Merchant Marine (HMM) to buy Hanjin Shipping’s Asia-US operations. Korea Line is believed to have proposed better conditions, including a higher bid than HMM. The company’s bid included the purchase of Hanjin’s 54% stake in Total Terminals International (TTI), which operates Pier T at the ... Read More »