CMA CGN wins finance securitisation

CMA CGN wins finance securitisation
The first containership financial securitisation has taken place for container operator CMA CGN. The proceeds of the US$253m triple-A rated financial stamp, issued by UK-based XL Capital Assurance, will be used to buy 12 boxships which will be used as security for the deal.
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Anti-Danish Sentiment hits Container Shipping

Anti-Danish Sentiment hits Container Shipping
Maersk Line’s rebranding launch, as it dropped ‘Sealand’ from its main container shipping division, had been planned to take place this weekend amidst much pomp and glory. But following Muslim protests about cartoons depicting the prophet Mohammed as a suicide-bomber, which had first been printed in a Danish newspaper, senior management muted the a...
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P&O expected to accept DP World’s Offer

P&O expected to accept DP World’s Offer
Following the bowing-out of the bidding battle by PSA International on Friday 10 February, DP World looks set to become the world’s third largest terminal operator with its acquisition of P&O, about which shareholders will convene at Wembley Stadium, London, today.
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Maersk Containers washed off ship

Maersk Containers washed off ship
Islanders on the small Dutch island of Terschelling have seen Barbie dolls and sportsgear being washed up on their coastline, as a result of dozens of containers lost in windy weather off the P&O Nedlloyd Mondrian.
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P&O respond to PSA Announcement

P&O respond to PSA Announcement
P&O has acknowledged PSA's bowing out from the bidding war. P&O Chairman Sir John parker said "We would like to thank Chairman Fock, CEO Eddie Teh and their colleagues for their professionalism and courtesy throughout the process."
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Los Angeles Port writes environmental standards into Lease

Los Angeles Port writes environmental standards into Lease
In an unprecedented move, the Los Angeles Board of Harbour Commissioners has ratified a new leasing policy for the Port of Los Angeles which, in addition to formalising the standard criteria for selecting port tenants, has specifically addressed stringent environmental standards tenants must meet.
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Liverpool receives second transatlantic service

Liverpool receives second transatlantic service
The port of Liverpool has received a major deal under which it will be the last port of call for ships en route to the eastern US seaboard. CMA CGM and China Shipping have come together and will deploy four ships of between 2,500-2,700 teu apiece on a weekly service which will be launched in mid March.
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EU strikes out ports clause

EU strikes out ports clause
The controversial EU services directive has struck out the clauses pertaining to ports in order to avoid the controversy which resulted in violent protests by dockers in January.
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COSCO considers stake in Greek Piraeus Port Authority

COSCO considers stake in Greek Piraeus Port Authority
Chinese shipping company Cosco’s subsidiary in Greece, Cosco Hellas, is considering acquiring a stake in the Greek port of Piraeus. The announcement is one of several flowing from Greek Prime Minister Kostas Karamanlis’ visit to China last month.
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Yangshan port processes 410,000 teu

Yangshan port processes 410,000 teu
Despite only opening two months ago, the deepwater port of Yangshan, China, has already handled 410,000 teu. The port is certainly operating at its full capacity, and on January 28th hit a record high of 13, 350 teu on that day alone.
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Goteborg signs deal with Carmen Systems

Goteborg signs deal with Carmen Systems
In a deal reputedly worth EUR 425,000 ( US$ 509,072.00 ) the Port of Goteborg, Sweden’s largest port, has concluded a deal with Carmen Systems AB for a system which will enable the port to handle increased volumes of freight without engaging more staff.
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Brunswick Port moves closer to reality

Brunswick Port moves closer to reality
The possibility of a port being built in Brunswick, North Carolina, moved a step closer to reality today, when N.C. politicians committed US$30m to buying land for an international port there.
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New Orleans Expects Steel imports growth

New Orleans Expects Steel imports growth
The Port of New Orleans is preparing itself for a busy steel import year. Although the port is still experiencing modest growth in the steel business due to the Hurricane Katrina, in whose wake construction has not yet resumed as much as it is soon expected to, Gary LaGrange, president and CEO of the port is adamant that this will change. “The firs...
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Environmental Expert Joins PLA

Environmental Expert Joins PLA
The Port of London Authority’s Board (PLA) will be joined by Dr. Peter Matthews, an expert on water and environmental quality and management.
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Tokyo in Baltimore

Tokyo in Baltimore
Thanks to heavy investment in an intensive dredging and deepening programme over the last few years, the US Port of Baltimore was able to receive one of the world’s largest container ships on February 1 2006 when Mediterranean Shipping Company’s (MSC) mv ‘Tokyo’ called at the port en route from Charleston, Louisiana to Antwerp in Belgium.
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US-Cuba Embargo Meeting disrupted

US-Cuba Embargo Meeting disrupted
Port officials at the port of Corpus Christi met with their Cuban counterparts and industry officials in Mexico City over the weekend of 4-5 February 2006 to discuss the opportunities which will be presented if and when the US embargo on Cuba is lifted.
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