Thursday , 27 July 2017
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Author Archives: Emmanuel Mair

Ports of Ashdod and Haifa hit by surprise strike

A surprise wildcat strike by Israeli port workers in the state-run ports of Ashdod and Haifa ended on Thursday (28 May) night after a two-day shutdown. Even though the Labour Court in both Ashdod and Haifa deemed the strike illegal and ordered workers to return to their posts, it took intervention from the Histadrut Labour Federation, an umbrella union for thousands ... Read More »

China seeks to strengthen ports and shipping influence in Colombo

China Merchants Holding (CHM), a subsidiary of China Merchants Group, is looking to invest in a new container terminal in Sri Lanka’s Port of Colombo. CHM is expected to be limited to a 49% stake in East Container Terminal, owing to Sri Lanka’s new joint venture regulations while the Sri Lankan Ports Authority (SLPA) will own the remaining 51%. Ports minister, ... Read More »

Details of Port of Melbourne privatisation plan announced

The Port of Melbourne is being fought over in the State parliament
Credit: David Wallace

The Government of the State of Victoria in Australia has released details of the plan to privatise the Port of Melbourne, which will be voted on by the state parliament. The bill specifies that the port will be leased to private interests for 50 years and that the government expects to raise AU$5bn (US$3.85bn) to AU$6bn (US$4.63bn). Under the proposals, ... Read More »

West Coast longshore workers vote for new 5-year contract

A union dispute was one of the key factors behind the West Coast ports' gridlock earlier this year

Workers from the International Longshore and Warehouse Union (ILWU) have voted to ratify a tentative agreement with the Pacific Maritime Association (PMA) over a five-year-long labour contract. ILWU members from 29 West Coast ports voted 82% in favour of approving the five-year deal, compared to the 75% that voted in the previous contract. The new agreement will expire on 1 July ... Read More »

Panama canal CEO says that canal volumes will not return to pre-crisis peak

The Panama Canal’s container traffic is unlikely to return to 2007’s pre-crisis levels according to Jorge Quijano, CEO of the Panama Canal Authority. In an interview with the Financial Times, the canal’s top executive cited changing patterns in global trade and manufacturing plus the increasingly austere behaviour of US consumers. The trend of booming container trade has “peaked”, he said, ... Read More »

Maersk and CMA CGM to increase freight rates by up to $1,000 per teu

Maersk Line has announced a freight rate hike of US$800 per teu while CMA CGM intends to up its rates by US$1,000 per teu on the Asia-Europe trade from 1 June. This goes against the grain since total weekly capacity in the Asia-Europe trades is projected to increase by 9.1% in 2015 according to Alphaliner. Maersk has significant influence in ... Read More »

Greece reduces stake of Piraeus Port Authority up for sale

Piraeus is Greece's largest and busiest container port

The Greek government has revised down the stake for sale in Piraeus Port Authority from 67.7% to 51% according to industry sources. A new tender offer was scheduled to be sent to shortlisted bidders by the middle of this week. The management of ferry services will not be included in the offer, said Bloomberg sources. Although the privatisation has not ... Read More »

Adani Group reports 25% increase in annual profit

The Indian terminal operator, Adani Ports and Special Economic Zone (APSEZ), has reported that its profit before tax increased by 25% in the 2014/2015 fiscal  year, which ended on March 31. Consolidated profit before tax rose from 2,000 crore (US$315m) to 2,500 crore (US$394m) for the Ahmedabad-based group. Consolidated cargo volume increased by 28% from 113 million tonnes to 144 ... Read More »

Drewry: Ocean Three to become Ocean Four

Shipping consultants, Drewry, have joined a growing number of industry voices who believe that German shipping line, Hamburg Süd, will become part of the Ocean Three alliance. “It now only seems a matter of time before these carriers make the formal announcement that Hamburg Süd is to become a fully-fledged member of Ocean Three, or Ocean Four as it will ... Read More »

‘K’ Line makes profit amid freight rate pressures

The containership business of Kawasaki Kisen Kaisha (‘K’ Line) is back in the black, benefiting from falling fuel oil prices although the Japanese carrier is concerned about the year ahead. Income in the shipping line’s container segment increased to JPY20.6bn (US$172.0m) in the fiscal year ending 31 March 2015 after a JPY0.1bn (US$0.8m) loss last year. However, while cargo volumes ... Read More »