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Monthly Archives: January 2017

Port Klang to develop a new port

A new US$45bn port project will be developed over the course of 20 years on Carey Island, Malaysia, local media reported. The project, which will cover an area of over 100 sq km, is expected to include the construction of integrated port and related infrastructure, industrial parks, free trade zones, as well as commercial and residential buildings. The new facility ... Read More »

Dynamar: Further chance of shipping line consolidation in 2017

Small liner companies will come under “great pressure” to consider consolidation during 2017 according to shipping consultancy Dynamar, owing to tough industry conditions. Research from the analyst’s annual ‘Top 25 Container Liner Operators’ publication shows that the combined net result of twelve reporting lines fell by more than US$13bn during the first nine months of 2016. The previous year had ... Read More »

Port Authority of Valencia to upgrade facilities

Aerial image of the Port of Valencia

The Port Authority of Valencia is set to invest a total of €233m (US$246m) by 2020 to upgrade its three ports. The investment plan, which regards the three state-owned ports of Sagunto, Valencia and Gandia, includes €56m (US$59m) expected to be spent in 2017 and over €177m (US$187m) planned to be invested between 2018 and 2020. At the Port of ... Read More »

Konecranes completes acquisition of Terex MHPS

The Finnish brand will sell mobile harbour cranes under the name, Konecranes Gottwald

Konecranes has completed the acquisition of Terex Corporation’s material handling and port solutions (MHPS) business segment. The consideration for the MHPS business is US$595m and €200m (US$212m) in cash and 19,600,000 new class B shares, making Terex a 25% shareholder in Konecranes. The subscription price for a share is €35.01 (US$37.11) which was the closing price of Konecranes’ class A ... Read More »

Cavotec splits into two business units

Marine systems provider Cavotec has been split into two distinct business units as part of its new organisational structure and strategic plan. The company was divided into a Ports & Maritime business unit and an Airport & Industry section. According to a company statement, Cavotec aims to become a €500m (US$530m) global company by 2021, with Earnings Before Interest & ... Read More »

HHLA appoints new CEO

Angela Titzrath has significant experience in the car industry

Hamburger Hafen und Logistik AG (HHLA) has appointed Angela Titzrath as chairman of its executive board, with her assuming the role on January 1, 2017. She has been a member of the company’s executive board since October 1, 2016. Titzrath stated that she is excited to be appointed “in what is a challenging time for HHLA”. “The world around us ... Read More »

Vessel collision causes oil spillage near Singapore

Two container vessels have collided near Singapore resulting in a spillage of approximately 300 tonnes of oil. The Singapore-registered container ship WAN HAI 301 and the Gibraltar-registered container ship APL Denver collided off Johor Port in Pasir Gudang, Malaysia, on the night of January 3, 2017. One of the APL Denver’s bunker tanks was damaged in the incident, causing the ... Read More »

China – UK container train service launched

The first Chinese container train service destined for London has set off, as the One Belt, One Road initiative makes its maiden rail call to the UK. The first train departed Yiwu in eastern Zhejiang province on January 1, 2017, and will cover more than 12,000 km in 18 days before reaching London according to China Railway Corporation. The service, ... Read More »

DP World increases stake in Busan’s largest terminal

PNC has a 5.25 teu annual capacity

Dubai-headquartered port operator DP World has increased its share in the South Korean Port of Busan’s Pusan Newport Company Limited (PNC) to 66.03%. The transaction, the terms of which were not disclosed, included the acquisition of a 23.94% stake in the facility from the South Korean Samsung Corporation & Subsidiaries. PNC, which is the largest terminal at the Port of ... Read More »