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Monthly Archives: May 2016

CMA CGM records US$72m loss

CMA CGM has recorded a US$72m loss in the first quarter of 2016 as its revenue fell by 15%. The French giant, which recorded a US$435m profit in the first three months of 2015, announced that its revenue went down from US$4bn in the first quarter last year to US$3.4bn in the same period this year. The company recorded a ... Read More »

Evergreen commits to Marseille Fos

Evergreen has pledged its support for Marseille's southern gateway campaign

Evergreen Line has announced plans to replace its 8,500 teu ships calling at Fos’s Seayard terminal with 14,000 teu ones from 2017. Evergreen France chairman James Tang made this announcement at at a ceremony to celebrate Evergreen’s decision to add its own ships to the Asia-Med-North Europe service to replace a slot arrangement with the CKYHE alliance. “Evergreen never completely ... Read More »

Ex-Cavotec fraudster sells shares

A former Cavotec employee who was ordered to pay nearly US$7m after a jury found he had breached his fiduciary duties “with malice, oppression and fraud” has sold his Cavotec shares to help pay the charge. Michael Colaco initiated a lawsuit against Cavotec after he resigned as a member of Cavotec’s executive management committee and as managing director of Cavotec ... Read More »

DP World CEO questions silk road financing

Sulayem said that China’s economy is very strong while Europe's stagnates

DP World’s CEO Ahmed Bin Sulayem told Bloomberg he was struck by the US$8tn gap in funding for China’s new silk road project. Speaking in Hong Kong, he said: “What struck me is the gap of US$8tn which is needed to finish this. It’s a big amount and really the whole discussion is how to fund it. Definitely, there are many, ... Read More »

Exclusive: Panama Canal to use up to five tugboats

A vessel being manoeuvred by tugboats into the existing canal

The Panama Canal will use up to five tugboats to ensure safe navigation for vessels once inaugurated on June 26, according to captain Miguel Rodriguez, chairman of the board of inspectors at the Panama Canal Authority (ACP). Although it was previously considered that the canal could use up to four tugboats, Rodriguez said in an interview with CM: “We could ... Read More »

New calls boost APMT Cai Mep’s quarter results

Terminal operator APM Terminals (APMT) has announced that the container volumes handled at its facilities in Cai Mep, Vietnam, have more than doubled year-on-year during the first quarter of 2016 following the introduction of five new services calls last year. Throughput at the company-operated Cai Mep International Terminal (CMIT) went up by 130% year-on-year to 277,303 teu in the first ... Read More »

Antwerp cranes to be heightened

Three ZPMC ship-to-shore (STS) cranes at the DP World Antwerp Gateway terminal will be heightened by Kalmar, part of Cargotec, after the order was booked in Cargotec’s first quarter intake for 2016. The project, which involves the three cranes being heightened by 7 m, is scheduled for completion during the second quarter of 2017. Kalmar will be responsible for the ... Read More »

Terex delivers ten reach stackers to Benin

The new reach stackers will join eight already operated by the company

Terex Port Solutions (TPS) has delivered ten new reach stackers to the terminal operated by Société Béninoise des Manutentions Portuaires (SOBEMAP) at the Port of Cotonou in Benin, West Africa. The new units, which can stack up to five high-cube containers (9‘6‘‘) in the first row, have a maximum load capacity of 45 tonnes in the first row, 27 tonnes ... Read More »

DP World opens new terminal in Turkey

Port operator DP World has officially opened for business its new greenfield container terminal Yarimca in Kocaeli city, Turkey. The new facilities, which have a handling capacity of 1.3m teu, feature remote-controlled gantry cranes with automated gate operations. The operator’s Yarimca terminal, which has two main berths long 465 m and 430 m, can accommodate two container vessels at the ... Read More »