Friday , 23 March 2018
Latest News


Maersk struggles in third quarter

Maersk CEO Søren Skou

Maersk has lowered its full-year underlying profit expectation after a difficult third quarter in which volumes, utilisation and unit cost performance all suffered. Maersk CEO Søren Skou said the company ‘cannot be satisfied with our performance’ when detailing the quarterly results, in which the company lowered its full-year underlying profit forecast from in excess of US$1bn to around US$1bn. Volumes ... Read More »

Hutchison opens new UAE terminal

Terminal operations at a new 350,000 teu Hutchison Ports facility located in the north of the United Arab Emirates (UAE) have commenced following a commemorative ceremony. Hutchison Ports signed a concession agreement at Saqr Port, located in the emirate of Ras Al Khaimah (RAK), to operate the terminal for 25 years. RAK is home to the one of the world’s ... Read More »

Former US commerce secretary named in Paradise Papers over Triton shares

Pritzker served as US commerce secretary between June 2013 and January 2017

Penny Pritzker, who served as US commerce secretary during President Barack Obama’s second term, was named in the Paradise Papers over a potential conflict of interest relating to shares she owned in companies including container lessor Triton Container International. Rather than selling the shares, as was expected at the time, they were transferred to an investment firm “owned by trusts that ... Read More »

MCI appoints new CEO

Maersk Container Industry (MCI) has appointed manufacturing company Joy Global China’s president as its new CEO. Sean Fitzgerald, who has more than 20 years of experiences across management, manufacturing, product management and marketing, will leave his job at Joy Global China in January 2018 and join MCI. Chairman of MCI’s advisory board, Soren Toft, said: “Having returned to profitability after ... Read More »

DP World in talks for Yuzhny concession

President Poroshenko visited Jebel Ali

DP World’s group chairman and CEO Sultan Ahmed Bin Sulayem has held talks with Ukrainian President Petro Poroshenko on participating in the concession of the state port Yuzhny. The pair also spoke about collaboration on technology-driven customs operations during Poroshenko’s visit to Jebel Ali Port and Freezone. Last year, DP World signed a Memorandum of Understanding (MoU) with the government ... Read More »

Auckland announces 30-year master plan despite prospective move

Auckland's berth may be extended by 30 m

Ports of Auckland (POA) has released a 30-year master plan detailing prospective projects to help build the port until its site is moved from the Waitematā Harbour. The proposal includes automating Auckland’s container terminal, adding three new cranes, deepening its berths, and possibly extending berth length past its current 300 m. Ports of Auckland chief executive Tony Gibson said: “This ... Read More »

ATL Haulage Contractors to set up operations at London Gateway

Local logistics provider ATL Haulage Contractors has entered an agreement for a 2.54 acre HGV yard in DP World London Gateway, providing parking for up to 80 trucks. The terminal will develop the facility, which will be operational by June 2018, and serve as ATL’s operational base as well as hosting the firm’s new headquarters. SH Pratt Group, one of ... Read More »

Japanese carriers perform well

MOL's revenue grew by almost 15%

Japanese carriers K Line, MOL and NYK all performed well in their half year reports ahead of their merger into Ocean Network Express (ONE) next April. Of the three K Line reported the strongest growth in operating revenues, increasing by almost 18% year-on-year to ¥576bn (US$5.1bn). MOL’s revenue grew by 14.8% to ¥819bn (US$7.2bn) while NYK’s reported a revenue increase of ... Read More »

All operations at Port of Durban back underway

Marine operations at the Port of Durban have resumed after being affected by a storm in KwaZulu-Natal in October. On the terminal side, availability of the rubber-tyred gantry (RTG) cranes at Pier 1 has increased from 11 to 15 while a total of five ship-to-shore (STS) cranes are operational, whilst one is still under repairs. At Pier 2, 11 STS ... Read More »

COSCO Shipping Ports installs new leadership at Noatum

Following the closure of COSCO Shipping Ports’ agreement to acquire a majority stake in Noatum Points, the Chinese state-owned company has begun installing a new management team. Kai Sun, who has previously managed several terminals in China as well as being former chief operating officer at Piraeus Container Terminal, is set to become the new CEO of Noatum Ports. Wei ... Read More »