Tuesday , 12 December 2017
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Author Archives: Joe Lo

AAPA “disappointed” over proposed US port funding

The American Association of Port Authorities (AAPA) has said that it is disappointed in the funding levels proposed in President Obama’s fiscal 2017 budget, which it described as “grossly imbalanced” for US ports. The AAPA criticised the reduction of funding for U.S. Army Corps of Engineers coastal navigation programmes, the Federal Emergency Management Agency’s (FEMA) Port Security Grant programme, and ... Read More »

Fitch warns weight regulations can raise US ports’ congestion

Credit rating agency Fitch Ratings warned that the new container weighing regulations set to take effect on July 1, 2016 are generating uncertainty at US ports and can raise congestion. The ratings agency claimed in a statement that Fitch-rated ports are lacking both the designated facilities for weighing containers and the systems for the verification of container weights. According to ... Read More »

Adani reports 37% profit rise

Adani Ports is developing the Vizhinjam International Deepwater Multipurpose Seaport in Kerala. Copyright© 2012 Adani Group

Indian terminal operator Adani Ports and Special Economic Zone (APSEZ) has announced that its profit before tax increased by 37% year-on-year in the third quarter of its 2016 financial year (FY) which ended on December 31, 2015. The company reported that its consolidated profit before tax rose to 703 crore (US$103m) in the third quarter of FY 2016 from 513 ... Read More »

Liebherr delivers first of new reachstacker range

The new reachstacker series will be expanded in the long run

Liebherr Maritime Cranes has announced that it delivered the first model out of its new reachstacker series to the Port of Ravenna, Italy. The new LRS 545, part of a reachstacker range which will be expanded in the long run, fulfils stage IV and tier 4 final legislative requirements by relying entirely on the company’s selective catalytic reduction (SCR) system. ... Read More »

Hamburg hit by weak trade

The Port of Hamburg has announced a 9.3% year-on-year fall in its 2015 container handling volumes amid weak market conditions. The port reported that its throughput went down from 9.7m teu in 2014 to 8.8m teu last year, falling to third-place in the European container ports rankings behind Rotterdam and Antwerp, which handled 12m teu and 9.6m teu respectively in 2015. ... Read More »

Kalmar’s order growth slows in fourth quarter

Kalmar has announced that its orders received increased by 4% in the last quarter of 2015, compared to 22% in the third quarter and 19% for the year as a whole. Despite this, the CEO of Kalmar’s parent company Cargotec, said that the value of orders received by Kalmar was “strong” in the fourth quarter, where Kalmar received €395m (US$444m) ... Read More »

Maersk’s profit slashed amid low freight rates

Maersk was significantly hit by weak market conditions

The Maersk Group has announced an 82% year-on-year drop in its 2015 profit amid sharply reduced freight rates and falling oil price. The company, which was hit by a widening supply-demand gap in the second half of 2015, reported that its profit went down from US$5.2bn in 2014 to US$925m last year, while its underlying profit dropped by 31% from ... Read More »

Hapag-Lloyd warns of 65% increase in mislabelling of dangerous goods

Hapag-Lloyd has announced that it registered 65% more incorrectly declared dangerous goods in 2015 than in 2014. The carrier uses a special safety software to continuously check cargo data to identify anything conspicuous. In 2015, this software identified 4,314 cases of incorrectly declared dangerous goods, compared to 2,620 in 2014. Ken Rohlmann, head of the carrier’s dangerous goods department, said ... Read More »

Antwerp signs agreement with Chinese bank

The MoU was signed at the opening of ICBC’s Antwerp branch

The Antwerp Port Authority has announced that it signed a Memorandum of Understanding (MoU) with the Industrial and Commercial Bank of China (ICBC) as part of China’s ‘one belt, one road’ strategic plan. The partnership agreement, which was signed at the opening of ICBC’s first branch in Antwerp, is expected to strengthen the Port of Antwerp’s position in China by ... Read More »

DP World’s chairman appointed as new CEO

Dubai-headquartered terminal operator DP World has announced that the group’s chairman Ahmed bin Sulayem was appointed CEO of the company with immediate effect. Bin Sulayem, who became the operator’s chairman in May 2007, will continue holding the role of chairman alongside its new position as CEO. Bin Sulayem succeeded the 53-year-old Mohammed Sharaf, who retired from his role as DP ... Read More »