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Monthly Archives: July 2016

APMT agrees to pay compensation for Quetzal concession

Quetzal Container Terminal's concession has been highly controversial

APM Terminals (APMT) has agreed to pay US$43m in compensation to the Guatemalan government after the company inherited a concession which was allegedly obtained through bribery. The concession to operate Quetzal Container Terminal (TCQ) was awarded to Spanish company Grup TCB in 2013. The concession was then inherited by APMT when the company bought all the shares in Grup TCB ... Read More »

CMA CGM reopens Barcelona-Djen Djen service

French shipping company CMA CGM has announced the reopening of a regular service from Barcelona in Spain to Djen Djen in Algeria as an alternative to the congested Bejaia. The newly-reopened regular service will be part of the company’s EURONAF service. According to the shipping company, the main advantages of calling at the Port of Djen Djen include the lack ... Read More »

DP World set to explore Taiwanese port deals

Kaohsiung is the gateway port for Southern Taiwan

DP World has signed a memorandum of understanding (MOU) with the Taiwan International Ports Corporation (TIPC). The MOU commits DP World to developing Terminal 7 at Kaohsiung Port in Southern Taiwan. The company is the first global terminal operator to enter the Taiwanese market and is looking to explore further investment opportunities in Taiwan’s port infrastructure. DP World’s CEO Ahmed ... Read More »

DP World’s UAE volumes down by 6%

Jebel Ali in Dubai is DP World's flagship facility

DP World’s container volumes in the UAE, largely from its flagship facility Jebel Ali, fell 6% in the first half of 2016 due to a reduction in lower-margin cargo. Its UAE terminals handled 7.4m teu, down from 7.9m teu in the equivalent period last year. However, additions to DP World’s container handling capacity at new facilities helped the firm’s worldwide ... Read More »

Deadline for Colombo concession extended

The Sri Lanka Ports Authority (SLPA) has extended the deadline for expressions of interest in the pre-qualification stage to build and operate an expanded terminal in Colombo. The deadline for interest in the East Container Terminal has been extended until 21 August 2016, according to local media. The original deadline was 21 July and the country’s ports minister said that ... Read More »

MSC joins CMA CGM in supporting French start-up

The Mediterranean Shipping Company (MSC) has joined CMA CGM in investing capital in a French start-up providing container monitoring and coordination systems. As part of the agreement, the carriers are both represented on Traxens’s board of directors. The company’s container monitoring devices will be deployed across MSC’s fleet starting from the fourth quarter of 2016. CMA CGM has supported the ... Read More »

Ship collides with Panama Canal’s new locks

The Xin Fei Zhou suffered damage

A container ship has hit the wall of the Panama Canal’s new  locks. The 8,500 teu China Cosco Xin Fei Zhou collided with the walls of the Agua Clara locks on Thursday afternoon. Before the expanded Panama Canal opened on June 26, various organisations had raised concerns over whether it was safe to replace mules with tugboats. Insurers and workers’ unions ... Read More »

Konecranes cost-cutting delivers profit

Operating profit at Konecranes rose by 2.9% in the first half of the year to €28.9m as the firm reduced costs by laying off workers and reducing its equipment manufacturing capacity. The adjusted figure for operating profit, excluding restructuring costs and transaction costs related to the Terex material handling and ports solutions (MHPS) takeover, increased by 27.3% to €50.8m. Between ... Read More »

G6 alliance reduces transpacific services

There have been numerous investments at Oakland

The G6 alliance is set to merge two of its transpacific services into one because of low demand. The alliance is the latest carrier to cut capacity on the Asia-US West Coast (USWC) route because of low freight rates and a lack of trade. In April 2015, the G6 alliance started running a CC2 transpacific service as well as its ... Read More »