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Author Archives: Emmanuel Mair

Terex acquires CVS Ferrari’s terminal tractors

One  of the last CVS Ferrari terminal tractors

Terex Port Solutions (TPS) has acquired the assets of CVS Ferrari’s terminal tractor product line, which has been part of Manitex International since 2010. The existing range of terminal tractor models will be further developed and marketed under the Terex brand while CVS will fulfill current supply contracts with its existing customers. The machines will be manufactured at the Terex ... Read More »

New Jaxport rail terminal receives first trains

The first trains at Jaxport's new facility

The first trains have arrived at Jaxport’s newly completed Intermodal Container Transfer Facility (ICTF) in advance of its official opening to commercial container movements later this year. In the meantime the terminal at Dames Point is being used for military training exercises in partnership with multiple US Army units. These exercises are aimed at expediting the movement of ocean-going military ... Read More »

Miami and Santos sign sister ports agreement

Eric Olafson, PortMiami’s development manager and Alex Oliva, president of Santos Port Authority

The ports of Miami and Santos signed a joint letter of intent at Intermodal South America on Thursday April 7, 2016, aimed at securing a closer relationship and greater cooperation between the two hubs. Alex Oliva, president of Santos Port Authority (CODESP), told CM that he hoped the agreement would enable trade between Santos and Miami to increase by 10-15%. ... Read More »

COSCO Pacific profit beats expectations

Chinese terminal operator COSCO Pacific exceeded expectations to record net income of US$382m last year, a 30.4% increase on 2014’s results. This beat the average estimate of US$300m made by 12 analysts compiled by Bloomberg. However, when including the write back of provision on the disposal of a 21.8% equity interest in China International Marine Containers (Group), net income increased ... Read More »

COSCO-PSA to invest in new Singapore berths

COSCO-PSA Terminal (CPT), a joint venture company between COSCO Pacific and PSA, is investing in new container berths in Singapore capable of serving the next generation of mega container vessels. CPT was inaugurated in 2003 to establish a joint venture terminal at PSA’s Pasir Panjang Terminal (PPT) Phase 1. Hoping to stay ahead of evolving industry needs, CPT will move ... Read More »

PSA profit hit by decline in Singapore volume

Lower container volumes in Singapore hit PSA's profit

PSA International has suffered a double digit fall in pre-tax profits as its flagship Singapore Terminals lost 8.7% in container volumes in 2015. Profit before tax plunged 10.4% to SG$1.5bn (US$1.1bn) while revenue declined by 6.7% to SG$3.6bn (US$2.6bn) as PSA’s overall business handled 64.1m teu last year, a 2% fall from 2014. Its Singapore Terminals contributed 30.6m teu while ... Read More »

Logistics hub acquisition pushes DP World profits up 31%

The acquisition of free zone Economic Zones World (EZW) helped DP World’s profit, attributable to the company’s owners, leap by 30.7% to US$883m in 2015. Despite limited container volume growth of 2.7%, the terminal operator’s increase in capacity at Rotterdam, London Gateway, EZW and Yarmica saw its revenue climb 16.3% On like-for-like terms at constant currency excluding the addition of ... Read More »

Port operators and shipping lines sign up to stowage pilot

Numerous container terminal operators and shipping lines have signed on to pilot test new stowage and collaboration platform XVELA following the first participant Hapag-Lloyd. Hamburger Hafen und Logistik AG (HHLA), PSA International, DP World, Maersk Line, Orient Overseas Container Line (OOCL) and Nippon Yusen Kabushiki Kaisha (NYK Line) are among the companies to have committed to the test so far. ... Read More »

DP World plans IPO for Indian unit

DP World is planning an initial public offering (IPO) for its Indian business after being given government approval to create a holding company in which all its local terminals will be consolidated. The new firm, named Hindustan Ports Pvt. Ltd. (HPPL) is required to have a net worth of more than US$80m following the restructuring, as part of the approval’s ... Read More »

Kalmar to deliver 19 straddle carriers to Vado

Port equipment manufacturer Kalmar has received an order for 19 hybrid shuttle carriers from APM Terminals (APMT) for its newest container terminal which is under construction in Vado, Italy. The deepwater facility in Vado, which will receive the Kalmar HSH240 machines in 2017, will be the world’s first container terminal to employ an entirely hybrid shuttle carrier fleet. The hybrid ... Read More »