Bromma appoints new president

Bromma appoints new president
Bromma has announced that Cargotec’s veteran Mika Virtanen will succeed the recently-appointed Peter McLean as the company’s new president effective from September 1. McLean, who has been holding the role of president at Bromma since June 2016, will hold the role of head of Asia-Pacific at Kalmar. Virtanen has for many years held several senior ...
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Hanjin’s parent company to fund unloading of stranded cargo

Hanjin’s parent company to fund unloading of stranded cargo
Hanjin Group and its chairman have announced plans to raise a total of US$91m to fund unloading of cargo on ships stranded following its subsidiary Hanjin Shipping’s bankruptcy last week. The group plans to provide the shipping company with US$55m, while its chairman Cho Yang-ho would contribute another US$36m from private funds, BBC reported. Sout...
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DP World wins 30-year concession for port in Somaliland

DP World wins 30-year concession for port in Somaliland
DP World has won a 30-year concession with an automatic 10-year extension for the management and development of a deep sea multi-purpose port at Berbera in Somaliland, a self-declared republic within Somalia. The Port of Berbera opens a new point of access to the Red Sea and will increase the port operator’s local presence which ...
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CMA CGM suffers US$94m loss

CMA CGM suffers US$94m loss
CMA CGM has suffered a US$94m pre-tax loss in the second quarter of the year with like-for-like revenue dropping by 19%. Excluding the recently-acquired NOL’s contribution, the company’s net loss stood at US$109m. Revenue excluding NOL’s contribution went down from US$4.1bn to US$3.3bn in the second quarter of the year, while its total revenue was...
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DP World signs MOU with Summa Group

DP World signs MOU with Summa Group
DP World has signed a memorandum of understanding (MoU) with an investor in Russian infrastructure, the Summa Group, in order to explore investment opportunities in ports, special economic zones and inland logistics facilities. The partnership will also focus on the development and implementation of freight delivery and port processing technologies...
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ICTSI breaks ground on auto logistics hub

ICTSI breaks ground on auto logistics hub
International Container Terminal Services, Inc. (ICTSI) has broken ground along with NYK Auto Logistics Philippines (NALP) and other project partners on NYK’s new pre-delivery inspection and storage facility. The area is located on ICTSI-owned land in Barangay Niugan, Cabuyao Laguna, in the Philippines. The facility will serve as a storage center f...
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Vessels stranded and rates soaring after Hanjin collapse

Vessels stranded and rates soaring after Hanjin collapse
Hanjin Shipping’s bankruptcy has caused immediate ripple effects through the global supply chain with ships and cargo stranded while freight rates are up by 40% on some trades. The Korea International Trade Association has said that about ten Hanjin vessels in China have been either seized or were expected to be seized by charterers, port authoriti...
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India incorporates port development company

India incorporates port development company
The Indian government has incorporated the Sagarmala Development Company (SDC) with an initial authorised share capital of Rs.1,000 crore (US$150m), to promote port development in the country. The new firm will have a subscribed share capital of Rs. 90 crore (US$13m), the ministry of shipping announced. SDC will raise funds “as debt/equity (as long...
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Hanjin files for receivership

Hanjin files for receivership
Hanjin Shipping has filed for court receivership after its creditors refused to provide any further loans to the debt-ridden carrier. Ports including those in Shanghai, Xiamen, Valencia, and Savannah have blocked access to Hanjin ships due to concerns they would not be able to pay fees, reported Reuters. The firm’s board unanimously agreed to make...
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APM Terminals to invest US$70m in New Jersey facility

APM Terminals to invest US$70m in New Jersey facility
APM Terminals (APMT) is to invest US$70m in its largest facility on the US East Coast, enabling it to receive increased loads from larger vessels travelling via the Panama Canal. Annual capacity at the terminal in Port Elizabeth, New Jersey, will increase from 1.5m teu to 2.3m teu due to the addition of a new ...
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Leased container equipment fleet growth to slow

Leased container equipment fleet growth to slow
Following growth of only 3.5% in 2015 due to decreased rental demand, the global leased container equipment operating fleet is forecast to increase by just over 1% in 2016. Research from shipping analyst Drewry suggests that growth in only the specialised reefer and tank container fleets will exceed that of dry freight. In particular, the ...
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New tunnels for reefer container maintenance in Hamburg

New tunnels for reefer container maintenance in Hamburg
Five tunnels which are required to maintain reefer containers, have gone into operation at Hamburger Hafen und Logistik AG’s (HHLA) Container Terminal Altenwerder (CTA). This adds additional storage capacity equivalent to a quarter of a storage block at CTA. The tunnels were built by Hamburger Container- und Chassis-Reparatur-Gesellschaft mbH (HCCR...
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Iran considers investment in Nicaragua Canal

Iran considers investment in Nicaragua Canal
Iran’s foreign minister Mohammad Javad Zarif has said that the Middle Eastern state could collaborate on the construction of the proposed Nicaragua Canal. On a trip to promote Iranian ties with Latin America, he stated: “Cooperation between Iran and Nicaragua can include collaboration in the construction of the [Grand] Interoceanic Canal to the are...
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DP World hits setback in Melbourne union row

DP World hits setback in Melbourne union row
DP World has been temporarily prevented from using general dock workers to do the job of ‘linesmen’. Australia’s Fair Work Commission has issued a temporary order prohibiting DP World from using general dock workers to moor, unmoor and shift ships at its Melbourne terminal. Currently, these mooring duties are currently performed by external mooring...
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Asian carriers introduce new subcontinent services

Asian carriers introduce new subcontinent services
Evergreen Line, “K” Line, COSCO, Wan Hai and Pacific International Lines (PIL) are combining to introduce two new joint services serving the China-India subcontinent trade from early September. Both will feature direct port calls at Karachi and Mundra with vessels of 4,200 in capacity. The PMX (Pakistan Mundra Express) service will utilise six ship...
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Konecranes confirms merger will lead to job losses

Konecranes confirms merger will lead to job losses
Konecranes has confirmed that there will be job losses as a result of its merger with Terex’s material handling and port solutions (MHPS) segment. In a statement to shareholders, ahead of an emergency general meeting on September 15, the company said: “It is anticipated that there will be some overlap across certain functions within the ...
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Hutchison to open another Karachi terminal in October

Hutchison to open another Karachi terminal in October
Hutchison Port Holdings (HPH) has confirmed it will open its second container terminal in Karachi at the end of October 2016, according to Reuters. The new facility, South Asia Pakistan Terminals (SAPT), will aim to handle 250,000 teu in the first year of operations and more than 2m teu annually in five years. The terminal ...
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Equipment costs hit record lows

Equipment costs hit record lows
Lower costs and weaker demand have driven down the price of new container handling equipment to record lows, according to shipping analyst Drewry. The container equipment index price has fallen from US$1,900 at the end of 2014 to US$1,450 at the end of 2015, close to an all-time low. According to Drewry, the price fall ...
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Samskip installs Rotterdam’s largest solar panel system

Samskip installs Rotterdam’s largest solar panel system
Logistics company Samskip has completed the installation of the Port of Rotterdam’s largest solar panel system as part of the facilities’ sustainability strategy. The company completed the project through its subsidiary frigoCare in partnership with Dutch renewable energy company Zon Exploitatie Nederland (ZEN). The new green energy system, which w...
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Terex delivers MHC to ICTSI DR Congo

Terex delivers MHC to ICTSI DR Congo
Terex Port Solutions (TPS) has delivered the first of two new mobile harbour cranes (MHC) expected to be operated at ICTSI’s new container and general cargo terminal at the Port of Matadi, DR Congo. The new unit is the first of two Terex Model 5 cranes to be operated at the Matadi Gateway Terminal (MGT). ...
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Konecranes to deliver 12 RTGs to Charleston

Konecranes to deliver 12 RTGs to Charleston
Finnish manufacturer Konecranes has announced that it will deliver 12 new rubber-tyred gantry cranes (RTGs) to the South Carolina Ports Authority (SCPA)’s Wando Welch terminal at the Port of Charleston in 2017. The new units, which will have a lifting capacity of 50 long tonnes, will be able to stack 1-over-5 containers high and six ...
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Mis-declared cargo causes over a quarter of incidents on ships

Mis-declared cargo causes over a quarter of incidents on ships
Shipping insurance provider UK P&I Club has claimed that over a quarter of incidents on ships are caused by mis-declared cargo. According to the Protection and Indemnity (P&I) insurance provider, data captured by the Cargo Incident Notification System (CINS) over the 2013-2014 period revealed that 27% of incidents in terms of detected causa...
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New container terminal opens in Tanjung Priok

New container terminal opens in Tanjung Priok
The new Priok Container Terminal I at the Indonesian Tanjung Priok Port has started operations a month after it was originally scheduled to open, local media reported. The facility, which is the first terminal at the port’s new deep-sea harbour in North Jakarta, reportedly opened following clearance of the safety and security requirements issued by...
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No plans for dedicated Montego Bay container terminal

No plans for dedicated Montego Bay container terminal
The Jamaican government has said that the ports of Montego Bay will be converted into a regional multipurpose port but not a dedicated container terminal. According to the Jamaica Observer, the country’s minister for job creation Horace Chang said that the new multipurpose port will have a berth dedicated to cargo as well as berths ...
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New capacity additions boost DP World’s profit

New capacity additions boost DP World’s profit
Port operator DP World has recorded a 43% increase in its profit before tax despite container throughput in the UAE region falling by 6% in the second half of 2016. The rise in pre-tax profit to US$703m was boosted by a 9% rise in the company’s revenue to US$2.1bn, supported by the acquisitions of the ...
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