Thursday , 21 September 2017
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Author Archives: Emmanuel Mair

Volumes and revenue up at Ashdod

The port managed growth among all cargo segments

Ashdod Port Company has reported a revenue increase of 4.3% over the first half of 2017, bolstered by container volume growth increase of 6.6%. The company’s total revenue for the period came to 616m Israeli shekels (US$173m), compared with 591m Israeli shekels (US$166) in the equivalent period of 2016. The port’s revenue increase comes as a result of the 6.6% ... Read More »

COSCO and PIL sign time-charter agreement

COSCO Shipping Lines and Pacific International Lines (PIL) have signed a time-charter agreement involving 12 vessels worth more than US$4.25m. COSCO will spend more than US$2.5m leasing PIL’s 6,500 teu Kota Cantik, which has shore supply, at a daily rate of US$7,266 and five 4,250 teu ships at a daily rate of US$4,675 between September 2017 and April 2018. The ... Read More »

US ports receive $100m in security grants

The US Department of Homeland Security’s (DHS) Federal Emergency Management Agency has announced the recipients of US$100m in port security grants, with port authorities, terminal operators and domestic law enforcement agencies among those earkmarked for funds. More than 33 ports were awarded direct grants from the FY 2017 Port Security Grant Programme (PSGP). Among the beneficiaries are Georgia Ports Authority, ... Read More »

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 »