Fitch Ratings recently upgraded DP World Limited’s Long-Term Issuer Default Rating (IDR) to BBB from BBB- and its Short-Term IDR to F2 from F3. The rating outlook is stable. The upgrade follows on the Fitch announcement in November 2015…
On August 18, a new container terminal built by NYK Line together with PT. Pelabuhan Indonesia II (Persero) (IPC), Mitsui & Co. Ltd. and PSA International Pte Ltd opened for commercial service at Tanjung Priok Port in Jakarta, Indonesia.This…
The world’s third largest container shipping company initiated a new direct service from the Port of New Orleans to the west coast of South America this week. Marseille, France-based CMA CGM launched its Med Americas service with the arrival…
In contrast to an international downturn, French port Marseille Fos has reported exceptional results for July with 7.8 million metric tons of cargo and 387,000 passengers – up by 18.6 percent and 13 percent respectively on the same month last year…
Port Manatee says it has signed an agreement to keep Del Monte fruit coming into the Florida Gulf Coast port for as many as 20 more years. Del Monte Fresh Produce N.A. Inc., which has imported fruit into the deepwater Florida seaport since 1989…
Kawasaki Kisen Kaisha, Ltd. (“K” Line) has received recognition from the port authorities of both Long Beach and Los Angeles, for recording high level of compliance throughout 2015 with voluntary speed reduction by “K” Line’s containerships…
Crowley Maritime Corporation announced that it is launching a new weekly fixed-day container shipping service between Jacksonville and Costa Rica. The service’s two containerships will call at the Jacksonville Port Authority’s Talleyrand Terminal…
Logistics service provider Al Sharqi Shipping has been honored by NYK for its contributions to cold chain logistics for 2015-2016. “We are delighted with this recognition as this is in line with our long term plan to develop food and cold…
Global trade enabler DP World has signed a Memorandum of Understanding (MoU) with US-based Hyperloop One to explore the role of innovation in the future of world trade. The collaboration is for feasibility studies that analyse the value of using Hyperloop systems in the UAE…
The Northwest Seaport Alliance said it will reimburse up to $2 million to extend gate hours at its international container terminals during peak season. With a 3 to 5 percent increase in cargo volume forecasted during peak season, which…
First-half seaborne cargo throughput of 70.2 million tons reflected stabilization of the trend for the Port of Hamburg. At the same time, a steep increase occurred in freight transport by rail to/from the Port of Hamburg. At 70.2 million tons…
Port Bronka, the new deepwater port in St. Petersburg, was opened by mid of December 2015. Regular services started by January 2016. Meanwhile, the port offers a wide range of maritime logistics services including container- , RoRo- and general…
July imports at the Port of Los Angeles climbed 5 percent compared to the previous year. Overall cargo volumes in July slipped 1.6%, mostly due to a decline in the shipment of empty containers. For the first seven months of 2016, year-to-date volumes have increased 4…
In the first half of 2016 the Rickmers Group generated consolidated revenues of €249.3 million ($279 mln), 13.9 percent lower than in the corresponding period in 2015 (€289.6 million, $324 mln). The main underlying factors are the persistently strained market situation…
Terex Port Solutions (TPS) is supplying a diesel-electric Terex Gottwald Model 2 mobile harbour crane in the G HMK 2304 two-rope variant and a Terex Stackace E 6-8 empty container handler to the Belgian river port of Liège. The two cargo-handling…