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Author Archives: Joe Lo

Bolloré attributes rising profits to African terminals

French company Bolloré has attributed its rising transportation and logistics profits to the performance of African ports. The company’s transportation and logistics segment, which includes Bolloré Logistics, Bolloré Ports and Bolloré railways, increased its profit (EBITDA) by 5%. The company attributed this partially to “good overall performance from the port business in Africa (particularly in Ivory Coast, Cameroon, Ghana, Nigeria ... Read More »

HHLA outlines diversification strategy

As ships get bigger in Hamburg, so do peaks in truck visits

As Hamburger Hafen und Logistik AG (HHLA) announced falling throughput in 2015 and predicted no increase in 2016, its chairman announced a three-pronged diversification strategy. Klaus-Dieter Pieters said that firstly the company will “maintain and build upon [its] market leadership in Hamburg” by preparing its terminals for particularly large ships and by increasing its productivity through automation and optimisation of ... Read More »

APMT awarded Tanger Med concession

APM Terminals has been awarded a 30-year concession to operate Container Terminal 4 at Tanger Med II. The 5m teu terminal is scheduled to be completed in 2019 and will include 1,600 m of quay and 76 ha of container platform. APMT will invest €758m (US$873m) in the project, with an extension option reserved which would entail an extra €140m ... Read More »

Labour dispute hits SSA Marine’s Oakland terminal

Operations at the Oakland terminal were disrupted for the day

After management attempted to fire 22 of their colleagues, workers at SSA Marine’s Oakland terminal temporarily stopped or slowed down working on 28 March, 2016. According to local reports, the problem started when management told workers to begin at 6.45 am, fifteen minutes earlier than usual. When workers refused, management attempted to fire 22 of them and 44 others slowed ... Read More »

Fitch downgrades Libra Terminal Rio credit rating

Fitch predicts a 3.5% reduction in 2016 throughput at Libra Santos

Credit rating agency Fitch has downgraded its ratings of Brazilian terminal operator Libra Terminal Rio. On 24 March 2016, it downgraded the operator’s long-term foreign and local currency Issuer Default Ratings (IDRs) from BB+ to BB. This move was based on the assumption that volumes at Libra Rio and Libra Santos would decline by 20% and 3.5% in 2016 respectively. ... Read More »

The Port of LA paid US$5m to upgrade China Shipping’s vessels

The Port of Los Angeles paid US$5m in 2005 to enable China Shipping’s ships to plug into electric shore power when at dock but most of the carrier’s vessels stopped calling at the port in 2010, the Los Angeles Times reported. The port paid the Chinese state-owned shipping line to keep diesel engine from polluting the area surrounding the area, ... Read More »

Hapag-Lloyd CEO optimistic about freight rates

Hapag-Lloyd recorded its first annual net profit since 2010

The CEO of shipping line Hapag-Lloyd has said that the company expects to see a moderate recovery on freight rates in the upcoming two quarters of 2016. The company, which recorded in 2015 its first net annual profit since 2010 following cost-cutting measures and its merger with the container business of Chilean shipping company Compañía Sud Americana de Vapores (CSAV), ... Read More »

Konecranes chairman demotes himself after fraud allegations

Stig Gustavson will be replaced by Christoph Vitzthum

Konecranes has announced that the current chairman of its board Stig Gustavson will become its vice-chairman. In a statement, Konecranes said that the change was Gustavson’s decision and was “due to his age”. The decision comes five days after Konecranes announced that Gustavson was facing aggravated subsidy fraud charges (in relation to his alleged conduct in a previous position) and ... Read More »

Panama reveals canal’s inauguration date

The Panama Canal Authority (ACP) has announced that the expanded canal will be officially inaugurated on June 26, 2016. The date of the official inauguration of the expanded waterway, which was initially set to be finished by the end of 2014, was revealed during a ceremony for ACP’s inauguration of a scale model manoeuvring training facility. “We have had some ... Read More »

Terex receives new order from Egyptian terminal operator

The new RTGs are set to be delivered in November 2016

Terex Port Solutions (TPS) has received an order for six diesel-electric rubber-tyred gantry cranes (RTGs) from Egypt’s terminal operator Alexandria Container and Cargo Handling Co. (ACCHCO). The new units, which are set to be delivered in November 2016, will be used in ACCHCO’s Alexandria Container Terminal at the Port of Alexandria and El-Dekheila Container Terminal at the Port of Dekheila. ... Read More »