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Author Archives: Emmanuel Mair

Vessels stranded and rates soaring after Hanjin collapse

Stranded Hanjin cargo is causing headaches throughout the supply chain

Hanjin Shipping’s bankruptcy has caused immediate ripple effects through the global supply chain with ships and cargo stranded while freight rates are up by 40% on some trades. The Korea International Trade Association has said that about ten Hanjin vessels in China have been either seized or were expected to be seized by charterers, port authorities or other parties. One ship ... Read More »

India incorporates port development company

The Indian government has incorporated the Sagarmala Development Company (SDC) with an initial authorised share capital of Rs.1,000 crore (US$150m), to promote port development in the country. The new firm will have a subscribed share capital of Rs. 90 crore (US$13m), the ministry of shipping announced. SDC will raise funds “as debt/equity (as long term capital), as per the the ... Read More »

Hanjin files for receivership

Hyundai Merchant Marine is interested in acquiring Hanjin's assets

Hanjin Shipping has filed for court receivership after its creditors refused to provide any further loans to the debt-ridden carrier. Ports including those in Shanghai, Xiamen, Valencia, and Savannah have blocked access to Hanjin ships due to concerns they would not be able to pay fees, reported Reuters. The firm’s board unanimously agreed to make the court filing after failing ... Read More »

APM Terminals to invest US$70m in New Jersey facility

APM Terminals (APMT) is to invest US$70m in its largest facility on the US East Coast, enabling it to receive increased loads from larger vessels travelling via the Panama Canal. Annual capacity at the terminal in Port Elizabeth, New Jersey, will increase from 1.5m teu to 2.3m teu due to the addition of a new berth capable of handling 13,000 ... Read More »

Leased container equipment fleet growth to slow

Following growth of only 3.5% in 2015 due to decreased rental demand, the global leased container equipment operating fleet is forecast to increase by just over 1% in 2016. Research from shipping analyst Drewry suggests that growth in only the specialised reefer and tank container fleets will exceed that of dry freight. In particular, the leased reefer fleet will continue ... Read More »

New tunnels for reefer container maintenance in Hamburg

Staff can now access reefer containers on foot

Five tunnels which are required to maintain reefer containers, have gone into operation at Hamburger Hafen und Logistik AG’s (HHLA) Container Terminal Altenwerder (CTA). This adds additional storage capacity equivalent to a quarter of a storage block at CTA. The tunnels were built by Hamburger Container- und Chassis-Reparatur-Gesellschaft mbH (HCCR), a subsidiary of HHLA. Previously, since maintenance staff required access ... Read More »

Iran considers investment in Nicaragua Canal

Iran's foreign minister travelled with 120 officials from the public and private sectors

Iran’s foreign minister Mohammad Javad Zarif has said that the Middle Eastern state could collaborate on the construction of the proposed Nicaragua Canal. On a trip to promote Iranian ties with Latin America, he stated: “Cooperation between Iran and Nicaragua can include collaboration in the construction of the [Grand] Interoceanic Canal to the areas of agriculture, energy production, petrochemistry, banking, ... Read More »

Asian carriers introduce new subcontinent services

Evergreen Line, “K” Line, COSCO, Wan Hai and Pacific International Lines (PIL) are combining to introduce two new joint services serving the China-India subcontinent trade from early September. Both will feature direct port calls at Karachi and Mundra with vessels of 4,200 in capacity. The PMX (Pakistan Mundra Express) service will utilise six ships, calling at Qingdao, Shanghai, Ningbo, Singapore, ... Read More »

Hutchison to open another Karachi terminal in October

Hutchison Port Holdings (HPH) has confirmed it will open its second container terminal in Karachi at the end of October 2016, according to Reuters. The new facility, South Asia Pakistan Terminals (SAPT), will aim to handle 250,000 teu in the first year of operations and more than 2m teu annually in five years. The terminal has already received new ship-to-shore ... Read More »

Hamburg receives new gantry cranes

Three ZPMC container gantry cranes have arrived at Hamburger Hafen und Logistik AG’s (HHLA) Container Terminal Burchardkai (CTB), which now has a total of eight of these cranes. When the three new machines go into operation from the end of 2016, CTB will be able to handle ships with a capacity of 20,000 teu at two berths. The cranes will ... Read More »