Wednesday , 29 March 2017
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Author Archives: Federica Ragonese

Kalmar to deliver order to Qatar

Finnish manufacturer Kalmar is set to deliver a total of 21 forklifts, five empty container handlers, and four reachstackers for the New Port Project (NPP) in Qatar. The order, which also includes training to serve port operations and equipment handling, was booked into the 2016 third quarter intake with deliveries starting in the first quarter of 2017. The forklifts ordered ... Read More »

Hapag-Lloyd suffers loss

The company's revenue was down 13%

Germany-based shipping company Hapag-Lloyd has suffered a US$103m loss last year amid significantly lower freight rates. The group’s loss compares to a US$126m profit made the previous year. The company’s revenue went down by 13% year-on-year to US$8.5bn in 2016, mainly due to a 15% fall in the average freight rate to US$1,036/teu last year. The company’s transport volumes rose ... Read More »

PSA reports growth in 2016 revenue

Pre-tax profit was down 6%

Singapore-headquartered port operator PSA International has reported a 3% year-on-year rise in revenue to US$3.7bn in 2016, owing to a strong showing by its container terminals outside Singapore. The group’s profit before tax was however down 6% year-on-year to US$1.4bn, a drop the company attributed in part to a higher depreciation rate. The company’s throughput went up by 5.5% year-on-year ... Read More »

Vahle completes Lázaro Cárdenas electrification

Lázaro Cárdenas Terminal had its first electrification project in 2011

Vahle has completed the electrification of the intermodal area at Lázaro Cárdenas Terminal (LCT) in Mexico. The area, which has had conductor rails in full operation since mid-March, will be served by electric rubber-tyred gantry (e-RTG) cranes. Depending on the daily business, the intermodal area is suitable for the use of up to four e-RTGs to handle containers. Last year, ... Read More »

Freight forwarder concerned over shipping alliances’ reshuffle

Miami-headquartered online freight forwarder iContainers has warned that the launch next week of the new shipping alliances will result in a shortage of options for freight forwarders. The company’s co-founder Carlos Hernández raised concerns over the impact of the shipping companies’ reshuffle reducing shipping options which were already affected by the recent collapse of South Korean carrier Hanjin Shipping. He ... Read More »

UN rejects call to place Yemeni port under its supervision

Hodeidah port following the strikes in August 2015 (Credit: MSC)

The United Nations (UN) has rejected an appeal by the Arab coalition to place the port of Hodeidah, Yemen, under UN supervision. The Arab coalition’s call came after 42 people were killed in an attack on a boat carrying Somali refugees off the Yemeni coast for which the coalition claimed it was not responsible. According to reports last month, the ... Read More »

DP World reports growth in 2016 profit

The company's revenue was up 4.9% on a reported basis

DP World has reported a 30% rise in profit to US$1.26bn last year thanks to the acquisition of the Jebel Ali Free Zone in the United Arab Emirates (UAE). On a like-for-like basis, which does not include the addition of new capacity at Jebel Ali Free Zone, Yarimca in Turkey, Stuttgart in Germany, Antwerp Inland in Belgium and Prince Rupert ... Read More »

AAPA expresses concern over Trump’s proposed 2018 budget

Kurt Nagle, AAPA's president and CEO

The American Association of Port Authorities (AAPA) has expressed concern over proposed cuts for port-related programmes outlined in President Trump’s Fiscal 2018 budget. According to the AAPA, federal support for port dredging and improvements, environmental enhancements and security could fall under the new administration’s funding recommendations, with potentially significant declines for most federally funded, port-related programmes. The budget included proposed ... Read More »

CMA CGM suffers US$325m loss

French shipping company CMA CGM has suffered a US$325m net loss last year, which compares to a US$567m profit in 2015. The loss made including the contribution of NOL, which the company acquired in June 2016, was equal to US$452m. While the company’s revenue was up 1.9% year-on-year to US$16bn including NOL’s contribution, it was down 14.7% to US$13.4bn on ... Read More »

Textainer purchases RAM’s software

Intermodal container leasing company Textainer has purchased Real Asset Management (RAM)’s fixed asset software to comply with new corporate governance requirements. The new software, which will help the company meet IFRS and US GAAP regulations, whilst also assisting with the upcoming IFRS 16 lease accounting rules that will become effective in 2019, replaces an older in-house system. In addition to ... Read More »