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Monthly Archives: March 2016

Drewry predicts more big ships and overcapacity on US West Coast

The Port of Oakland will regularly handle megaships from May

Analyst Drewry has warned that more carriers may follow CMA CGM in sending mega-ships to the US West Coast. Following two trial runs with the 18,000 teu CMA CGM Benjamin Franklin, the carrier announced that, from May 2016, it will regularly deploy six ships of nearly 18,000 teu on the trade between Asia, Long Beach and Oakland. In a statement ... Read More »

DP World plans IPO for Indian unit

DP World is planning an initial public offering (IPO) for its Indian business after being given government approval to create a holding company in which all its local terminals will be consolidated. The new firm, named Hindustan Ports Pvt. Ltd. (HPPL) is required to have a net worth of more than US$80m following the restructuring, as part of the approval’s ... Read More »

Global Ports’ revenue hit by falling container throughput

Global Ports' marine container throughput dropped by 31% in 2015

Russian port operator Global Ports has reported a 28% fall in its 2015 revenue mainly due to falling imports negatively impacting on container throughput. The company’s revenue went down from US$562m in 2014 to US$406m last year. According to the group, this was mostly driven by the 31% year-on-year drop from 2.6m to 1.8m teu in 2015 in its marine ... Read More »

Kalmar to deliver 19 straddle carriers to Vado

Port equipment manufacturer Kalmar has received an order for 19 hybrid shuttle carriers from APM Terminals (APMT) for its newest container terminal which is under construction in Vado, Italy. The deepwater facility in Vado, which will receive the Kalmar HSH240 machines in 2017, will be the world’s first container terminal to employ an entirely hybrid shuttle carrier fleet. The hybrid ... Read More »

Consultancy chief sceptical of June opening of Panama Canal

The project was initially scheduled to be completed by the end of 2014

The president of shipping consultancy CK Americas has expressed doubts that the Panama Canal’s new locks will open in June 2016. Michael Kaasner Kristiansen claimed in an article on Linkedin that the opening target date of June 30, 2016 is “looking a bit optimistic” even to the casual observer. In February this year, the Panama Canal Authority (ACP) said that ... Read More »

APM Terminals completes Grup Maritim TCB acquisition

TCB Barcelona container terminal

APM Terminals (APMT) has completed the US$1bn acquisition of Grup Maritim TCB’s port and rail interests. The deal adds eight ports with a combined 2m teu equity-weighted volume to APMT expanding its network to 72 operating ports, across 69 countries. The Maersk-subsidiary moved ahead with the takeover despite being yet to receive approval for three of 11 terminals under Grup ... Read More »

CMA CGM announces increased volumes but falling revenue

French shipping line CMA CGM has reported a 6.4% fall year-on-year in its 2015 consolidated operating revenue primarily due to a 6.9% drop in container shipping revenues. The company’s operating revenue went down from US$17bn in the twelve months to December 31, 2014 to US$16bn in the same period last year, with the container shipping segment’s operating revenue falling from ... Read More »

Argentina and Indonesia write-offs hit ICTSI results

Non-recurring charges totalling US$116.2m, due to significant write-offs in Argentina and Indonesia, hit 2015 results for International Container Terminal Services, Inc. (ICTSI), with net income crashing down 68% to US$58.5m. However, excluding these one-time charges, recurring net income would have increased 1% to US$174.7m. The terminal operator handled container volumes of 7.8m teu in 2015, a 5% increase over the ... Read More »

European Parliament greenlights EU ports regulation

Associated British Ports urged MEPs to vote against the regulation

The European Parliament has voted in favour of a revised EU Ports Services Regulation (PSR) aiming to make European ports more competitive and increase financial transparency. Despite voting against EU ports legislation twice in the past, the European Parliament adopted in plenary the revised PSR on March 8, with 451 MEPs voting in favour and 243 against. The decision sparked ... Read More »