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Monthly Archives: May 2016

India aims to automate its gates

The Indian government is looking to automate its container terminal’s gates using radio-frequency identification (RFID). After this technology yielded positive results at India’s biggest state-owned port, Jawaharlal Nehru, the government wants other ports to follow suit. Kolkata, Chennai, Cochin and Paradip have already awarded contracts for new gate systems and the government expects their installation to be completed by the ... Read More »

Zoomlion abandons Terex bid

Chinese crane manufacturer Zoomlion has called off negotiations over its bid for Terex. “No agreement can be reached on the crucial terms,” said Zoomlion, in a filing on the Hong Kong Stock exchange. The news comes eleven days after Konecranes announced it was buying Terex’s material handling and port solutions business. That deal came with the caveat that it could ... Read More »

Kandla to develop container terminal

Kandla Port Trust (KPT) in north western India plans to create a container terminal and a multipurpose cargo terminal at Tuna Tekra, where Adani Ports and Special Economic Zone Ltd (APSEZ) already operates a bulk terminal. KPT has already approached India’s ministry of environment and forests for its approval and will look to open competitive bidding for the project post-clearance. ... Read More »

CMA CGM downgrade causes jitters in Jamaica

KCT's concession has been highly controversial

Jamaican media and politicians have questioned CMA CGM’s takeover of Kingston Container Terminal after credit rating agencies downgraded the carrier’s debt. In April 2016, Standard & Poor’s and Moody’s downgraded their long-term credit ratings on CMA CGM because of low freight rates and challenging conditions in the container shipping industry. According to Jamaican newspaper The Sunday Gleaner, this downgrade left ... Read More »

Tuxpan gains first service

Tuxpan is well-connected to Mexico City

The newly built Mexican terminal of Tuxpan will welcome its first ship on July 4 as CMA CGM’s Victory Bridge service calls. The service will leave Le Havre on June 12 before calling at Antwerp, Rotterdam, Bremerhaven, Charleston, Savannah, Miami, Veracruz, Tuxpan, Altamira, Houston and New Orleans. The US$370m terminal is operated by SSA Marine, a subsidiary of Carrix, which ... Read More »

Chinese regulator approves CMA CGM’s NOL acquisition

The Anti-monopoly Bureau of the Chinese Ministry of Commerce (MOFCOM) has approved CMA CGM’s acquisition of Neptune Orient Lines (NOL). The French giant said it expects to announce its proposed voluntary general cash offer for NOL by June 2, 2016. In December 2015, CMA CGM announced a pre-conditional voluntary general cash offer for NOL at the price of SGD1.30 (US$0.94) ... Read More »

India commits to Chabahar development

India sees Chabahar as a way to reach Afghanistan without passing through Pakistan

Indian prime minister Narendra Modi has met his Iranian counterpart Hassan Rouhani and signed an agreement to develop the Iranian port of Chabahar. India will commit US$500m to developing the port, which is in the east of Iran and will facilitate Indian trade with Iran and Afghanistan. Of this money, US$85m will be spent in developing two container berths with ... Read More »

HMM’s creditors agree debt-for-equity swap

Hyundai Merchant Marine’s creditors have agreed to swap 680bn (US$573m) won of debt for equity, according to lead creditor Korea Development Bank. At the end of the first quarter of 2016, the company had debts of 5,2tn won (US$4.28bn)so this move will take it to around 4.52tn won (US$3.8bn), a 13% decrease. In return, creditors will receive a stake in ... Read More »

Navis Sparcs N4 goes live at ICTSI Iraq

Umm Qasr is in Southern Iraq

The Navis Sparcs N4 terminal operating system (TOS) has successfully gone live at Basra Gateway Terminal (BGT), a container terminal in Umm Qasr, Iraq. BGT, a subsidiary of International Container Terminal Services, Inc. (ICTSI), holds a 10 year concession contract to rehabilitate, manage, and operate Berth 20 and a 26 year contract to build, manage, and operate the new container ... Read More »