Friday , 23 March 2018
Latest News


Global Ports suffers badly in half year results

The operator actually saw a 2.2% rise in container volumes

Global Ports Investments’ profit attributable to the owners plunged by 110.5% into loss in the company’s half year report, as it leaked US$12.1m. Profit before income tax also suffered badly, plummeting by 98% to just US$3m in its half year results, with the operator hit by the troubled Russian economy. The Russian container market has performed well so far this ... Read More »

ReCharge project aims to cut Norway’s emissions

Ports in Norway could reduce annual CO2 emissions by as much as 12.5m tonnes following a report by a collection of technology and port experts. The report comes from the ReCharge project, made up of experts from the Port of Oslo, Cavotec, ABB and Norwegian maritime advisors DNV GL, which aims to pave the way for zero emission ports in ... Read More »

China Merchants Port to acquire 90% of Paranagua terminal

TCP moves 10% of all containers handled in Brazil

China Merchants Port Holdings (CM Port) will pay R$2.9b (US$925m) for a 90% stake in TCP Participações, which manages Brazilian terminal Terminal de Contêineres de Paranaguá, one of Brazil’s largest terminals and logistics company TCP Log. The agreement marks the first investment by CM Port in Latin America and one of the the biggest transactions ever announced in the container ... Read More »

China Merchants performs strongly across the board

CMPort's managing director Dr Bai Jingtao

Recurrent profit at China Merchants Port Holdings (CMPort) shot up by 37.1% year-on-year to US$290m in the company’s half year results. Container throughput grew by 8.9% to a record 50.2m teu because of the strong performance of Chinese import and export trade, while domestic demand experienced restorative growth. CMPort’s facilities in mainland China contributed 37.9m teu of this figure, an ... Read More »

Construction begins on Port of Posorja in Ecuador

Construction has begun on the greenfield multi-purpose port project at Posorja, Ecuador, with work expected to take 24 months to complete. It follows the 50-year concession DP World won last year to build a facility with a capacity of 750,000 teu, located 65 km from Guayaquil. The US$500m initial investment (Phase 1) includes the purchase of land, dredging of a ... Read More »

Drewry: Lease rates still under pressure

Shipping lines have cut down on direct investment in containers

Competitive pressures are having an adverse effect on lease rates following a rise in ownership of container equipment by lessors according to a report by Drewry. The container leasing companies’ expansion has coincided with ocean carriers cutting back on new purchasing and selling older inventory for leaseback. In 2016, the lease sector expanded by 7% and took 54% of deliveries ... Read More »

Livorno implements Circle’s MILOS platform

The Port of Livorno’s operations and logistics service provider has implemented Circle’s Milos software in order to reduce transit times and improve goods visibility and tracking. Compagnia Impresa Lavoratori Portuali (CILP) Livorno chose to implement logistics consultancy firm Circle’s MILOS platform following the software’s success at Lugo Terminal, the logistics platform located in the middle of Italy’s Romagna region. The ... Read More »

DP World’s Prince Rupert expansion is complete

DP World acquired the Fairview Container Terminal in August 2015

DP World has increased Prince Rupert’s Fairview Container terminal capacity from 750,000 teu to 1.35m teu per year upon completing the Phase 2 North expansion project. The upgrades allow Prince Rupert to handle the largest vessels in the world with a carrying capacity upwards of 20,000 teu. The expansion includes three new super-post Panamax cranes, an additional 6,000 ft of ... Read More »

Scientists verify blockchain technology for logistics

A pilot programme testing blockchain technology in the logistics sector has earned the approval of scientists at the University of Copenhagen and maritime technology leads at Blockchain Labs for Open Collaboration (BLOC). The project by Marine Transport International (MTI) and Agility Sciences involved the deployment of their Container Streams system in a supply chain environment. In the pilot, a shared ... Read More »

Hapag-Lloyd posts half year loss following UASC integration

The company integrated with UASC in May

Hapag-Lloyd recorded a net profit of €16m (US$19.2m) in the second quarter of 2017, although posted a loss of €46.1m (US$55.3m) in its half year results. Both figures are considerably better than the carrier’s 2016 second quarter and half year results, which were losses of €44.5m (US$53.5) and €142.1m (US$170.7m) respectively. The half year’s deficit is somewhat attributed to the ... Read More »