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Monthly Archives: January 2016

Maersk diverts ships from Felixstowe to London Gateway

DP World's London Gateway opened in 2013

Shipping company Maersk Line has arranged to divert two vessels from the Port of Felixstowe to DP World’s London Gateway due to adverse weather conditions at the weekend and congestion at Felixstowe. The 18,340 teu Maersk Mc-Kinney Moller, which was scheduled to discharge and load at berths eight and nine at the Port of Felixstowe over the weekend, will be ... Read More »

Chinese US$3.3bn Terex bid throws doubt over Konecranes deal

Terex's board still recommends a merger with Konecranes

Chinese heavy-equipment manufacturer Zoomlion has made a US$3.3bn for US-based Terex, giving rise to uncertainty over the latter’s potential merger with Finnish company Konecranes. Zoomlion has offered to acquire all of Terex’s outstanding shares for U$30 each, representing an almost 100% premium to the stock’s closing price prior to the announcement. In a statement, Terex, which owns port equipment manufacturer ... Read More »

DP World’s CEO retires

Dubai-headquartered terminal operator DP World has announced that 53-year-old Mohammed Sharaf has retired with immediate effect from his role as CEO. In a statement, the company claimed that Sharaf, who worked for the group for the past 23 years and was its CEO for the past 11, retired to pursue other opportunities. The operator’s board has begun a process to ... Read More »

Dynamar: African container trades growing exponentially

Mombasa expects throughput to reach 2m teu by 2020

Maritime consultancy Dynamar has launched a review of container trades in the region of East and Southern Africa. According to this, the area has produced a significant growth, despite challenging conditions in many ports, in terms of infrastructure and other various bottlenecks, mainly associated with inland transportation. They explain more below. In the minds of many, East and Southern Africa ... Read More »

CSCL expects US$425m loss over 2015

Chinese state-owned carrier China Shipping Container Lines (CSCL) has announced in a profit warning that it expects a 2015 net loss of US$425m due to severe market conditions, record low freight rates and vessel impairment losses. In a profit warning filed to the Hong Kong Exchange, the company admitted that its 2015 loss, which includes a US$304m operating loss and ... Read More »

Grupo CICE orders two Konecranes RTGs

Grupo CICE multipurpose terminal, Veracruz, Mexico

Grupo CICE has ordered two rubber-tyred gantry (RTG) cranes from Konecranes for its multipurpose terminal in Veracruz, Mexico. The cranes will arrive by the end of 2016 on Mexico’s South-East coast about 300 km from Mexico City at the Port of Veracruz, which has plans to expand with two new container terminals. In a statement, Grupo CICE said that it ... Read More »

Eurogate hit by weak trade

The Bremen-headquartered Eurogate Group has reported a 2% year-on-year drop in its 2015 total container handling volumes amid weak market conditions. The group, which operates sea terminals jointly with its sister company Contship Italia, reported that its total throughput went down from 14.8m teu in 2014 to 14.5m teu in 2015, hit by Russia’s recession and China’s economic slowdown. The ... Read More »

APMT finalises Cartagena joint venture

The joint venture will invest over US$200m

APM Terminals (APMT) and Colombian terminal operator Compas have finalised a joint venture which will manage and operate a multipurpose facility in Cartagena. The terminal, which is currently operated by Compas, has an annual capacity of 250,000 teu and 1.5m tonnes of general cargo. The joint venture will invest over US$200m in upgrading and expanding the facility to triple its ... Read More »

UASC returns to Iran

Shipping line United Arab Shipping Company (UASC) has announced that it started accepting shipments to and from Iran following the news that non-US citizens and companies are now allowed to trade with the country. UASC’s statement follows the U.S. Treasury Department’s recent announcement that non-Americans are now allowed to do business with Iran in sectors including banking, steel and shipping, ... Read More »