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Yearly Archives: 2016

New projects bolster ICTSI throughput but hit profit

Container volumes handled by International Container Terminal Services, Inc. (ICTSI) jumped by 10% in the first half of 2016 although this did not stop net income from falling 13%. The rise in volumes to 4.26m teu was mainly due to the continuing ramp-up at ICTSI Iraq and new shipping line customers and services at the firm’s terminals in Guayaquil, Manzanillo, ... Read More »

Hapag-Lloyd suffers US$111m loss

Transport volume went down by 2.7% year-on-year

Hapag-Lloyd has reported a €99.3m (US$111m) loss in the second quarter of 2016 as its revenue dropped by 21% year-on-year. The company’s loss in the three months ending on June 30, which compares to a €29m (US$32.4m) profit registered in the same period of 2015, lead to an overall US$142m loss in the first half of the year. In the ... Read More »

Yilport secures US$750m concession for Ecuador’s Puerto Bolívar

Puerto Bolívar in Ecuador

Yilport Holding has signed a 50-year concession to operate Puerto Bolívar in Machala City, Ecuador, which includes a commitment to invest US$750 in the port. The development will occur in five phases, creating Latin America’s largest container terminal with an annual capacity of 2.5m teu. Puerto Bolívar port is one of the world’s largest shipment points for fruits and seafood. ... Read More »

Regulators approve Konecranes acquisition of Terex MHPS

US and European regulators have both approved Konecranes purchase of Terex’s Material Handling and Port Solutions (MHPS) segment. On August 8, both the European Commission (EC) and the US Department of Justice announced their decisions. The US approval was unconditional but the EC made their approval was conditional on Konecranes divesting its Stahl Crane Systems business, which it had already ... Read More »

New multipurpose terminal opens in Singapore

Combi Terminal, a new facility for multipurpose vessels carrying a combination of containers and general cargo, has begun operations. Managed by Jurong Port, the terminal’s launch eliminates the need for multipurpose vessels visiting Singapore to call at separate terminals or berths to load or unload different cargo types. Ooi Boon Hoe, CEO of Jurong Port, said: “With our Combi Terminal, ... Read More »

Ports of Auckland to automate its container terminal

The project will be completed in 2019

Ports of Auckland, New Zealand, has announced that it will start works to partially automate its container terminal. The automation project, which is set to be completed by 2019, includes the use of automated straddle carriers to load and unload trucks and operate the container yard. The plans, which are expected to increase the terminal capacity from around 900,000 teu ... Read More »

UK forwarders supports shippers’ efforts to end surcharges

The British International Freight Association (BIFA) has backed international shippers’ call to end surcharges imposed by shipping companies within five years. The expression of support by BIFA, the UK trade association for freight forwarding and logistics companies, came after the Global Shippers’ Forum passed a resolution to end these surcharges by 2020. Robert Keen, BIFA director general, claimed in a ... Read More »

Exclusive: Former Grup TCB boss criticises arrest warrant

Pérez- Maura has denied any wrongdoing

The man who was the former majority shareholder of Grup TCB has defended himself against corruption allegations. Angel Pérez-Maura faces an international arrest warrant, issued by the International Commission against Impunity in Guatemala, for allegedly bribing the country’s political leaders in order to gain a concession in Quetzal. Iñaki Torres Prada, a spokesperson for Pérez-Maura, told CM: “The [concession] was awarded ... Read More »

Elektrans Shipping implements new asset management system

Elektrans Shipping, part of the Elektrans Group, has begun implementing a web based integrated fleet management system, Marine Asset Management System (MAMS). MAMS covers all aspects of ship management, including planned maintenance, safety, procurement, crewing and voyage management, and provides a business intelligence and compliance tool. Michael Elwert, the Elektrans Group CEO, said that the system would “address the needs ... Read More »