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Author Archives: Alistair Ross

Hapag-Lloyd volumes up in third quarter

Volumes rose to 7m teu

Hapag-Lloyd’s container volumes shot up by 24.4% to 7m teu in the first nine months of 2017, while the German carrier also posted strong quarterly financial results. Net profit rose to €54.3m (US$63.9m) in the third quarter compared with €8.2m (US$9.6m) the same time last year, while earnings before interest, taxes, depreciation and amortisation (EBITDA) soared to €361.5m (US$427m), a rise ... Read More »

Antwerp announces water conservation project

Two container terminals at the Port of Antwerp will collaborate with Antwerp Terminal Services (ATS) to construct three underground storage tanks in an effort to recycle rainwater. PSA Antwerp (PSAA) and MSC PSA European Terminal (MPET) will work with AST on the tanks, which will have a total capacity of 240,000 litres of rainwater and are expected to conserve up ... Read More »

QTerminals appoints first CEO

QTerminals, the recently-established operator of Hamad Port in Qatar, has appointed the general manager of the port authority at Suadia Arabia’s King Abdullah Port as its first CEO. Neville Blisset brings with him experience gained from a number of other roles including managing director at an APM Terminals (APMT) joint venture in Africa, CEO of Hutchison Ports’ Alexandria Container Terminal, ... Read More »

ICTSI performs well in third quarter results

Cranes arriving at ICTSI's Melbourne terminal

International Container Terminal Services, Inc. (ICTSI) reported strong financial growth in the first nine months of the year while throughput at its terminals grew by 6%. Revenue soared by 10% compared to the first nine months of 2016, rising to US$918.3m, while containers handled reached 6.8 m teu. Earnings before interest, taxes, depreciation and amortisation (EBITDA) also performed well, growing ... Read More »

Staff reshuffle in Cargotec

A staff reshuffle within Cargotec has led to a change in the management teams of Navis and Kalmar, with the former’s general manager of the Americas position currently vacant. Kalmar began a domino-like change by appointing Navis’s vice president and general manager of Europe, the Middle East and Africa (EMEA), Guenter Schmidmeir, as its senior vice president of global terminal ... Read More »

CMA CGM to use LNG

CMA CGM has announced plans to make its new fleet of ultra large container vessels (ULCVs) the first of their size to be powered by liquefied natural gas (LNG). LNG will be used to power the carrier’s nine new 22,000 teu ships, which were ordered in September and will come into service from the end of 2019. Compare to heavy ... Read More »

DP World and Suez Canal team up for new economic zone project

DP World and the Suez Canal Economic Zone Authority (SCZone) have agreed to develop an integrated industrial and residential zone in Sokhna, Egypt. SCZone will have a 51% share in the joint venture, with DP World holding the remaining stake and also managing the zone. The zone is projected to start in the first quarter of 2018, and will feature ... Read More »

Maersk struggles in third quarter

Søren Skou, CEO of A.P. Moller – Maersk

Maersk has lowered its full-year underlying profit expectation after a difficult third quarter in which volumes, utilisation and unit cost performance all suffered. Maersk CEO Søren Skou said the company ‘cannot be satisfied with our performance’ when detailing the quarterly results, in which the company lowered its full-year underlying profit forecast from in excess of US$1bn to around US$1bn. Volumes ... Read More »

Hutchison opens new UAE terminal

Terminal operations at a new 350,000 teu Hutchison Ports facility located in the north of the United Arab Emirates (UAE) have commenced following a commemorative ceremony. Hutchison Ports signed a concession agreement at Saqr Port, located in the emirate of Ras Al Khaimah (RAK), to operate the terminal for 25 years. RAK is home to the one of the world’s ... Read More »

MCI appoints new CEO

Maersk Container Industry (MCI) has appointed manufacturing company Joy Global China’s president as its new CEO. Sean Fitzgerald, who has more than 20 years of experiences across management, manufacturing, product management and marketing, will leave his job at Joy Global China in January 2018 and join MCI. Chairman of MCI’s advisory board, Soren Toft, said: “Having returned to profitability after ... Read More »