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Monthly Archives: March 2016

Labour dispute hits SSA Marine’s Oakland terminal

Operations at the Oakland terminal were disrupted for the day

After management attempted to fire 22 of their colleagues, workers at SSA Marine’s Oakland terminal temporarily stopped or slowed down working on 28 March, 2016. According to local reports, the problem started when management told workers to begin at 6.45 am, fifteen minutes earlier than usual. When workers refused, management attempted to fire 22 of them and 44 others slowed ... Read More »

COSCO-PSA to invest in new Singapore berths

COSCO-PSA Terminal (CPT), a joint venture company between COSCO Pacific and PSA, is investing in new container berths in Singapore capable of serving the next generation of mega container vessels. CPT was inaugurated in 2003 to establish a joint venture terminal at PSA’s Pasir Panjang Terminal (PPT) Phase 1. Hoping to stay ahead of evolving industry needs, CPT will move ... Read More »

Fitch downgrades Libra Terminal Rio credit rating

Fitch predicts a 3.5% reduction in 2016 throughput at Libra Santos

Credit rating agency Fitch has downgraded its ratings of Brazilian terminal operator Libra Terminal Rio. On 24 March 2016, it downgraded the operator’s long-term foreign and local currency Issuer Default Ratings (IDRs) from BB+ to BB. This move was based on the assumption that volumes at Libra Rio and Libra Santos would decline by 20% and 3.5% in 2016 respectively. ... Read More »

The Port of LA paid US$5m to upgrade China Shipping’s vessels

The Port of Los Angeles paid US$5m in 2005 to enable China Shipping’s ships to plug into electric shore power when at dock but most of the carrier’s vessels stopped calling at the port in 2010, the Los Angeles Times reported. The port paid the Chinese state-owned shipping line to keep diesel engine from polluting the area surrounding the area, ... Read More »

Hapag-Lloyd CEO optimistic about freight rates

Hapag-Lloyd recorded its first annual net profit since 2010

The CEO of shipping line Hapag-Lloyd has said that the company expects to see a moderate recovery on freight rates in the upcoming two quarters of 2016. The company, which recorded in 2015 its first net annual profit since 2010 following cost-cutting measures and its merger with the container business of Chilean shipping company Compañía Sud Americana de Vapores (CSAV), ... Read More »

Konecranes chairman demotes himself after fraud allegations

Stig Gustavson will be replaced by Christoph Vitzthum

Konecranes has announced that the current chairman of its board Stig Gustavson will become its vice-chairman. In a statement, Konecranes said that the change was Gustavson’s decision and was “due to his age”. The decision comes five days after Konecranes announced that Gustavson was facing aggravated subsidy fraud charges (in relation to his alleged conduct in a previous position) and ... Read More »

Panama reveals canal’s inauguration date

The Panama Canal Authority (ACP) has announced that the expanded canal will be officially inaugurated on June 26, 2016. The date of the official inauguration of the expanded waterway, which was initially set to be finished by the end of 2014, was revealed during a ceremony for ACP’s inauguration of a scale model manoeuvring training facility. “We have had some ... Read More »

Terex receives new order from Egyptian terminal operator

The new RTGs are set to be delivered in November 2016

Terex Port Solutions (TPS) has received an order for six diesel-electric rubber-tyred gantry cranes (RTGs) from Egypt’s terminal operator Alexandria Container and Cargo Handling Co. (ACCHCO). The new units, which are set to be delivered in November 2016, will be used in ACCHCO’s Alexandria Container Terminal at the Port of Alexandria and El-Dekheila Container Terminal at the Port of Dekheila. ... Read More »

Australia launches bidding process for the Port of Melbourne

Australia’s Victoria state government has opened the bidding process for a 50-year lease of the Port of Melbourne expected to increase the facilities’ efficiencies and competitiveness. Interested parties will have to lodge responses to the Request for Expressions of Interest in the lease by Monday, April 18 (AEST), with the government expected to announce a preferred leaseholder by the end ... Read More »