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Monthly Archives: June 2013

Maher’s systemic delays

Maher Terminals in the Port of New York and New Jersey has had to extend container free time and freeze demurrage charges as it clears a backlog caused by computer glitches during the changeover to its new Navis terminal operating system (TOS). Read More »

APM Terminals’ African port investment strategy

Nigerian Minister Aganga visits Hague

Senior APM Terminals leaders have met with the Nigerian Federal Minister of Industry, Trade & Investment, Olusegun Aganga and a delegation of government officials and advisors in The Hague as part of ongoing discussions on port infrastructure investment to promote Nigerian economic development through access to world-class logistics capabilities. Read More »

Global shipping’s sustained oversupply keeps outlook negative

The outlook for the global shipping industry will remain negative over the next 12-18 months, as the supply of vessels will likely continue to outstrip demand in most shipping services, says Moody's Investors Service in its latest "Global Shipping Industry: Sustained Oversupply Keeps Outlook Negative" report. The global shipping industry's outlook has been negative since July 2011. Read More »

CMHI and CMA CGM complete Terminal Link transaction

CMA CGM’s Marco Polo at TIL’s Malta Freeport

At a signing ceremony in Luxembourg on June 11, 2013 China Merchants Holdings (International) Company Limited (CMHI) and CMA CGM completed the sale and purchase of the 49% equity stake in Terminal Link (TIL), after obtaining all consents and approvals in various jurisdictions and the completion of certain pre-closing corporate reorganisations as stipulated under the terms of the acquisition agreement. Read More »

Chinese firm to build Panama Canal alternative

According to a report in The Guardian, Nicaragua has awarded an un-named Chinese company a 100-year concession to build an alternative to the Panama Canal, in a step that looks set to have profound geopolitical ramifications. The president of the country’s national assembly, Rene Nuñez, announced the US$40bn (£26bn) project, which will reinforce Beijing’s growing influence on global trade and ... Read More »