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Monthly Archives: March 2015

Piraeus Port Authority’s privatisation inches closer

The Piraeus Port Authority looks set to be finally sold off

The ongoing saga regarding the privatisation of Piraeus Port Authority appears to be almost over, with Greek officials offering a €500m (US$545m) valuation of the port to creditors according to The Wall Street Journal. Greece’s deputy prime minister, Yanis Dragasakis, also told China’s official state news service Xinhua that the government will sell its majority share in the port. Dragasakis ... Read More »

Gulftainer reports 8% growth for 2014

Gulftainer’s terminals report healthy annual growth

Gulftainer has announced final figures for 2014, recording an 8% growth to 6.4m teu across its global terminals, with the company’s Jubail container terminal in Saudi Arabia showing the largest increase at 22% to reach 400,000 teu. The total volume at its Saudi terminals was over 2.29m teu, with the Northern Container Terminal in Jeddah accounting for 1.9m teu, sustaining its ... Read More »

Panama Canal Authority considers fourth lock

The Panama Canal Authority (ACP) has set its sights on a further ambitious expansion project, worth an estimated US$17bn, to accommodate some of the largest vessels coming into service. Already one of the world’s busiest maritime shipping routes, the Authority is looking to develop the Canal further within the next 15 years to accommodate ships of up to 20,000 teu ... Read More »

Terex Port Solutions reveals new lift trucks

The Terex Liftace 5-31 reachstacker will be launched this spring

Terex Port Solutions (TPS) has revealed a new generation of lift trucks, which are scheduled for a spring release. Combining the strengths of two legacy brands – PPM and Fantuzzi – as well as the latest technological innovations – the ‘Liftace’ 5-31 reachstacker will be  launched first, with four ‘Stackace’ models set to follow. Klaus Peter Hoffmann, vice president and ... Read More »

Maersk Line announces plans for seven new vessels

Maersk Line has announced plans to build seven new 3,600 teu ships, following an agreement with COSCO Shipyard Co, as part of the company’s new-build investment programme. “Our strategy is to grow with the market and to do so we need new vessels from 2017. We expect to place additional orders this year,” said Søren Toft, chief operating officer at ... Read More »

Termont Montreal to take over MCT

The Port of Montreal's container terminal will be operated by Termont Montreal Inc

Termont Montreal Inc. is to take over the Montreal Container Terminal (MCT) as part of a CN$42m (US$34m) investment lease, which will see a further CN$30m (US$24m) invested towards a second phase of development if container growth continues. Announcing the deal at the signing of a long-term lease, Montreal Port Authority’s president and CEO, Sylvie Vachon, said: “I am very ... Read More »

CMA CGM gains KCT concession

CMA CGM, through its port terminals subsidiary Terminal Link, is to become the operator of the Kingston Container Terminal (KCT) in Jamaica.  The move will give the French shipping group a long-term concession to finance, expand and operate Jamaica’s main seaport in the capital. Prime Minister Portia Simpson Miller made the announcement that the agreement will be officially signed on ... Read More »

La Spezia welcomes eagerly awaited STS cranes

The new ship-to-shore cranes will strengthen La Spezia's infrastructure

The Contship Italia Group has announced that two new 23 row ship to shore (STS) cranes have successfully been delivered from China to the La Spezia Container Terminal (LSCT). The investment in LSCT comes as part of a substantial programme to improve infrastructure to operate the increasing number of ULCC ship calls deployed by customers. After a 60-day-long journey from ... Read More »

COSCO Pacific announces 10% increase in terminals’ throughput

Throughput at the terminals of Chinese terminal operator COSCO Pacific have increased by 10% to 67m teu. Profit at the container terminal side of COSCO Pacific’s business grew by 18% to US$221m. This was described by the company in a statement as “satisfactory growth”. This profit growth was attributed by the company to the improving operations of the Xiamen Ocean ... Read More »