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Monthly Archives: May 2015

Greece reduces stake of Piraeus Port Authority up for sale

Piraeus is Greece's largest and busiest container port

The Greek government has revised down the stake for sale in Piraeus Port Authority from 67.7% to 51% according to industry sources. A new tender offer was scheduled to be sent to shortlisted bidders by the middle of this week. The management of ferry services will not be included in the offer, said Bloomberg sources. Although the privatisation has not ... Read More »

Adani Group reports 25% increase in annual profit

The Indian terminal operator, Adani Ports and Special Economic Zone (APSEZ), has reported that its profit before tax increased by 25% in the 2014/2015 fiscal  year, which ended on March 31. Consolidated profit before tax rose from 2,000 crore (US$315m) to 2,500 crore (US$394m) for the Ahmedabad-based group. Consolidated cargo volume increased by 28% from 113 million tonnes to 144 ... Read More »

Drewry: Ocean Three to become Ocean Four

Shipping consultants, Drewry, have joined a growing number of industry voices who believe that German shipping line, Hamburg Süd, will become part of the Ocean Three alliance. “It now only seems a matter of time before these carriers make the formal announcement that Hamburg Süd is to become a fully-fledged member of Ocean Three, or Ocean Four as it will ... Read More »

Panama Canal announces new toll structure for 2016

The expanded Panama Canal will open in 2016

The Panama Canal Authority (ACP) has announced its new toll structure to be introduced in April 2016, the same year as the Canal expansion is completed. The Authority has taken heed of industry calls for an increase in the difference between full and empty or half-empty container ships. Currently, there is a discount of only US$8 for each teu missing from ... Read More »

South Korea announces Busan port expansion plans

15m teu of capacity will be added to Busan New Port

The South Korean government has announced plans to add a further 15 berths to Busan New Port, increasing container capacity by 15m teu. The new facilities will feature container terminals, feeder terminals and multi-purpose terminals. Work will begin in stages based on actual cargo demand, under the coordination of central government. Busan Port Authority (BPA) President, Lim Ki-tack, said that ... Read More »

Transnet deny Durban groundings were due to lack of dredging

South African state-owned port landlord Transnet National Ports Authority (TNPA) has denied that a spate of recent ship groundings at the Port of Durban were the result of a lack of dredging. Ports and Shipping claimed that two groundings in the entrance channel and several in the port were the result of a lack of maintenance dredging. However, port manager Moshe ... Read More »

Row over Auckland wharf expansion ends in compromise

The extensions' opponents released these images

Political debate over a controversial extension at the Port of Auckland’s Bledisloe multi-purpose terminal in New Zealand has ended in compromise. On April 1, Auckland councillors had voted unanimously to ask the city-owned port company to halt all work on the extension until further studies had been carried out. Yesterday though, Auckland’s mayor Lee Brown used his casting vote in ... Read More »

‘K’ Line makes profit amid freight rate pressures

The containership business of Kawasaki Kisen Kaisha (‘K’ Line) is back in the black, benefiting from falling fuel oil prices although the Japanese carrier is concerned about the year ahead. Income in the shipping line’s container segment increased to JPY20.6bn (US$172.0m) in the fiscal year ending 31 March 2015 after a JPY0.1bn (US$0.8m) loss last year. However, while cargo volumes ... Read More »