Latest News – Page 1090
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Mind your P's
The end of 2006 and very early part of 2007 saw industrial action in Europe''s ports on a scale that has not been experienced for some time. The last week of December saw action at Gioia Tauro - including a one-day stoppage and which slowed traffic and prompted substantial diversions ...
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Crippling implications of US initiative
One of the more interesting announcements at the beginning of 2007 is that the opposition party in the US, the Democrats, are to fast track legislation which within three years aims to ban containers from entering the US unless they are scanned at source by US-installed equipment and fitted with ...
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NewsIs the great equity bubble about to burst?
Private equity firms and other non-public shareholder groups such as Dubai Ports World (DPW), have entered the global ports and terminals marketplace to drive up values in the industry. Perhaps the initial driving force was DPW when it entered the Indian market outbidding its rivals.
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Taking Stock
Time was when shipping lines used to divest terminal assets on the downside of the container boom and bust cycle.Nowadays,however,they have learnt a trick or two and as the recent OOIL disposal highlights they are not disposing of these assets on the downside, but on the upside and reaping the ...
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Learning Curve
It is interesting to note that an officer of Kenya Ports Authority has suggested that congestion problems in Dar es Salaam are worse than those prevalent in Mombasa, and that as a result privatisation may not be the right road for the Port of Mombasa to go down. He suggests ...
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ICTSI swoops on Shandong terminal
Global port operator International Container Terminal Services Inc (ICTSI) has bolstered its Asian port holdings with a majority share in a Chinese operator.
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China's bright star still shining
"China''s port industry shows a promising future", a recent report from Research in China has found. The study estimates that China''s port handling capacity will increase by 80% or more from 2006 to 2010 and by 2010 the annual handling capacity of Chinese ports will top 6bn tonnes. Container handing ...
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Klang and Incheon pool resources
Port Klang and Incheon Port have signed a Memorandum of Understanding (MoU) to improve trade, traffic and services between the two ports. Last year, Port Klang handled 22,000 teu from Incheon Port, a rise of 37.5% from 16,000 teu in 2005. Total throughput from South Korea was 142,000 teu in ...
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NewsOOIL terminal division sale awaits official seal
Hong Kong-based Orient Overseas (International) Ltd (OOIL) deal to sell its terminal division to Canada''s Ontario Teachers'' Pension Plan for $2.35m is awaiting approval from shareholders and competition authorities.
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WEST BENGAL FEASIBILITY
The tender for a feasibility study for a deep-water port in West Bengal has attracted bids from consultancy firms in the US, Europe and China. In addition to drawing up the report, the winning bidder will have to maintain an association with the project until it is fully implemented.
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INDIANS FINANCE PORTS
India''s private-sector is forecast to invest $7.67bn in the domestic port industry over the next six years.The 276 potential projects will require total investment of $12.4bn, which will be state-funded where possible.
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CHINESE INVEST IN INDONESIA
Two Chinese companies - China National Property Administration Council and Qili Holdings - are making substantial investments in the Indonesian province of Papua. Biak Port will benefit from the construction of a new container terminal.
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HORIZON PRESENCE IN KOREA
Dubai-based Horizon Terminal Ltd recently inaugurated its joint-venture Horizon Taeyoung Korea Terminals in partnership with the Taeyoung Group, expanding the company''s terminal network in the Korean port of Ulsan. A 130,000 sq m expansion area will be created, capable of accommodating vessels of up to 30,000 dwt at a cost ...
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CHINA SHIPPING SEEKS MALAYSIAN OPPORTUNITIES
China Shipping Terminal Development, part of the China Shipping Group, is rumoured to be negotiating an equity stake at the Malaysian port of Tanjung Pelepas, although this has been officially denied.The company is also in talks with Port Klang box terminal operator Westport, with the same aim in mind.
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SHANGHAI SHARES UP
Shares in Shanghai International Port (Group) Company Ltd are now being traded on stock exchanges in both Shanghai and Shenzhen.Despite being valued at above the company''s initial expectations, the shares rose by 3% in early trading.
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SHENZHEN CONCENTRATES OWNERSHIP
DP World is to sell a stake in two of its three Shenzhen terminals for $229m to China Merchants Holding, which has also agreed to the purchase of further equity currently held by minority shareholder Swire.This would allow three box facilities to merge ||under the Mega SCT name.
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INDIAN MINOR PORTS BOOST
As part of India''s National Maritime Development Programme,¢ 89m is to be invested in a number of projects at minor ports. India has 12 major ports and 185 minor ports, although only a few of these latter facilities are open year-around.Nevertheless, this group handles 25% of all traffic, amounting to ...
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TUTICORIN SECOND BOX FACILITY
Tuticorin has been given permission to convert its number eight berth into a second container terminal on a build-operate-transfer basis. Five companies, including PSA-Sical and DP World, are in the running for the ¢ 25.93m project.
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GULFTAINER IN PAKISTANI JV
Sharjah-based Gulftainer has agreed a joint-venture with the Pak Shaheen Group of Karachi to bid for logistics and transport contracts in Pakistan.
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Crane chaos in Chittagong
Four new gantry cranes operated by Chittagong Container Terminals are being underutilised because of the non-corporation of stevedores and also because of the lack of coordinated back-up services.
