Saturday , 21 July 2018
Latest News

Author Archives: Emmanuel Mair

New alliance formed as shake-up begins

CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line (OOCL) have signed a memorandum of understanding (MoU) to form the Ocean Alliance, thus heralding a transformation of existing alliance structures. Subject to regulatory approvals of competent authorities, the new alliance plans to begin operations in April 2017 with an initial period of five years. The deal constitutes ... Read More »

India sets out maritime strategy

Indian prime minister Narendra Modi with a copy of the plan

Last week’s Maritime India Summit saw the launch of India’s National Perspective Plan (NPP) featuring proposals for six to eight new ports, over 40 port-capacity enhancement projects and more than 80 port connectivity projects amongst others. Aiming to reduce trade costs, Sagarmala, the government’s program to promote port-led development hopes to produce annual logistics cost savings of close to INR ... Read More »

Deutsche Bank to sell Maher Terminals facility

Deutsche Bank has agreed to sell Maher Terminals, LLC, a 454-acre container terminal in Port Elizabeth, New Jersey, to Macquarie Infrastructure Partners III (MIP III). MIP III, a fund managed by Macquarie Infrastructure and Real Assets (MIRA), will acquire 100% of the facility under the transaction. Maher Terminals in New Jersey, which was acquired by Deutsche Bank in 2007, handles ... Read More »

TCP’s concession extended as investment plan approved

Brazil’s second largest container terminal, Terminal de Contêineres de Paranaguá (TCP), has had its concession renewed early by 25 years after the Brazilian government approved its R$1.1bn (US$310m) investment plan. The Secretaria de Portos (SEP) granted the contract renewal, beginning in 2023, within the terms of the new regulatory frame of the port sector. During the first phase of the ... Read More »

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 »