DP World downplays Trade Tensions as Profit Soars
DP World, one of the world's biggest port operators, said on Thursday its business could weather international trade tensions, after reporting a 10.2 percent rise in 2018 profit."Current year has started with trading in line with expectations and whilst the near-term outlook remains uncertain with the trade war and geopolitical headwinds, we expect our portfolio to remain resilient and see increased contributions from our recent acquisitions and investments,” Sultan bin Sulayem, DP World chairman, said in a statement.The Dubai state controlled firm said it made a profit attributable to owners
Konecranes: Four Harbor Cranes to YILPORT
In the first quarter of 2019, Turkey-based YILPORT HOLDING, the 12th biggest global container terminal and port operator, ordered four high-performance Model 8 mobile harbor cranes for two terminals in Latin America. Two of the large Konecranes Gottwald cranes will begin operation in Puerto Quetzal, Guatemala, in mid-2019, followed by two cranes in Puerto Bolivar, Ecuador, just two months later.YILPORT’s four new eco-efficient diesel-electric Model 8 mobile harbor cranes from Konecranes will mainly handle containers in two terminals.
Kalmar Backs DP World Ecuador Terminal Project
Kalmar, a provider of lifting solutions and part of Cargotec, has announced a further extension of its collaboration with world-leading global terminal operator DP World.A new fleet of Kalmar mobile equipment - 33 terminal tractors, three empty container handlers, three reachstackers and one forklift - will ensure safe and efficient operations at DP World's new deep-water port at Posorja in Ecuador. The order was booked in Cargotec's 2018 Q4 order intake, with delivery scheduled to begin during Q2 of 2019.
APM Terminals Ecuador Upgrades
To address rapid increases in volumes APM Terminals Inland Services Ecuador introduced an accurate and reliable Truck Appointment System (TAS).This approach has already proved itself at other APM Terminals’ facilities, including neighbouring Peru. The system allows for much better co-ordination of arrivals and departures leading to significantly shorter wait times for trucks.The system now allows truck arrivals at the facility to be spread evenly throughout the day with a truck turnaround time of just 45 minutes.
Contecon Guayaquil is LatAm's First Carbon-Neutral Port
Contecon Guayaquil SA (CGSA) became the first port in South America to obtain a carbon-neutral certification, with the Ecuador Ministry of Environment and environmental ratings agency, Sambito SA, recognizing the company’s strong and priority commitment to the environment.According to ICTSI, the operator of the Port, the certification marking CGSA’s compliance to ISO 14064-1 standards lauds the company’s policies that are directed and translated towards greater sustainability initiatives…
Gulfport’s Long Road Back From Hurricane Katrina
When Jonathan Daniels, executive director of the Mississippi State Port Authority at Gulfport spoke to the audience at the annual state of the port luncheon July 27, 2018 at the newly rebuilt Island View Casino, he had a lot to offer in terms of jobs. And he had two aces in the hole: SeaOne, an untested compressed liquefied gas company and Yilport, a terminal company operated by an ambitious Turkish port developer. Both had letters of intent dating back two years with much to do.As has been the case since before Daniels took over from Don Allee in 2013…
BBC Chartering Joins Seaboard to Create “Andino Service”
As part of their mission to improve services for shippers moving cargo between the US Gulf Coast, Jamaica, and ports in Ecuador, Peru and Chile, Seaboard Marine and BBC Chartering are pleased to announce a new strategic cooperation which will be marketed as “Andino Service.”A press release from the international shipping company based in Leer, Germany said that beginning as early as November 2018, BBC and the ocean transportation service provider in North America Seaboard Marine…
DP World Gross Volume Up 4.8% for 1H 2018
Dubai-based port and terminal operator DP World said that its gross volumes rose 4.8 percent to USD 35.6 billion s for the six months to 30 June 2018, despite uncertainties in the container market. On a reported basis, revenue grew 14.4%.Revenue growth is supported by the volume growth across all three regions and the impact of new acquisitions including Drydocks World LLC (Drydocks), Dubai Maritime City (DMC) and Cosmos Agencia Marítima (CAM).Profit attributable to owners of…
DP World cautions on trade, posts 2.1 pct drop in H1 net profit
DP World, one of the world's biggest port operators, posted a 2.1 percent drop in first-half net profit on Thursday, and cautioned about geopolitical risks and recent changes to trade policies.U.S.
ICTSI Contecon Guayaquil Gets Approval to Handle Mega Vessels
Contecon Guayaquil SA (CGSA), subsidiary of Manila-based International Container Terminal Services (ICTSI) has received the government of Ecuador approval to accommodate mega vessels of up to 305 meters in length at the Port of Guayaquil’s Berths 2 and 3. "ICTSI further strengthened its market position as the main trading gateway in the entire Ecuador after recently getting the government’s nod to service larger vessels," said a press release from the company. The Ecuadorian Ministry of Transport and Public Works…
Canada Dreams of Oil Exports to Asia, but California Beckons
The nationalization of a crude oil export pipeline in western Canada has buoyed long-standing hopes for crude exports to markets beyond the United States - but the most likely destination for much of that oil is California. Faced with declining production from Latin America and rising prices for higher-grade crudes from the Middle East, the Golden State is importing more oil from Canada - much of it via the Trans Mountain pipeline, which Kinder Morgan Canada last month sold to Ottawa for C$4.5 billion ($3.5 billion).
New Rules on Ship Emissions Herald Sea Change for Oil Market
New rules coming into force from 2020 to curb pollution produced by the world's ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies.The regulations will slash emissions of sulfur, which is blamed for causing respiratory diseases and is a component of acid rain that damages vegetation and wildlife.But the energy and shipping industries are ill-prepared, say analysts, with refiners likely to struggle to meet higher demand for cleaner…
City of North Port, Port Manatee Trade Hub Host Chilean Official
The City of North Port and the International Trade Hub at Port Manatee are teaming with Chile’s trade commissioner in efforts to expand commercial links. “We look forward to realizing vast untapped potential for enhanced ties with both North Port and Port Manatee,” Sacha Garafulic, Chile’s Miami-based trade commissioner, said Wednesday [March 28] as he took part in a symposium and luncheon at North Port’s Shannon Staub Library. North Port Vice Mayor Linda Yates commented Wednesday…
Port Manatee Draws German Interest
Port Manatee holds promise as a trade gateway for German companies, according to Germany’s Miami-based consul general, who visited the Florida Gulf Coast port Thursday [March 15]. “Port Manatee is an important part of Florida infrastructure,” said Annette Klein, Germany’s consul general for Florida, Puerto Rico and the U.S. Virgin Islands. “As German companies look for a U.S. port to meet their needs, it is important for us to be aware of such ports and their capabilities and objectives.
DP World to Increase CapEx as 2017 Performance Shines
DP World, one of the world's largest port operators, said on Thursday full-year profit rose 14.9 percent in 2017 and that it would spend $1.4 billion on capital expenditure this year. Profit for the period attributable to owners of the company after separately disclosed items rose to $1.18 billion in 2017 from $1.02 billion in 2016, DP World said in a bourse statement. Revenue increased 13.2 percent to $4.7 billion and the board recommended increasing the dividend by 7.9 percent to $340.3 million at 41 cents per share.
DP World, Panama to Strengthen Ties
Trade infrastructure development to diversify Panama’s economy and DP World’s international experience in over 40 countries were at the centre of discussions held in Dubai yesterday between the global trade enabler’s Group Chairman and CEO Sultan Ahmed Bin Sulayem and Panamanian President Juan Carlos Varela. As part of his visit, Mr. Varela was taken on a tour of DP World’s flagship Jebel Ali Port and Free Zone, including Terminal 3, which is among the world’s most productive and technologically advanced…
DP World to Invest $1bn in Expansion
DP World is planning to annually inject up to $1 billion in global investments until 2020, local media quoted company chairman and CEO Sultan Ahmed Bin Sulayem as saying. The expansion at Prince Rupert in Canada opened for business. DP World Limassol in Cyprus opened a new cruise terminal. A series of acquisitions, technology tie-ups and sustainable business achievements all formed part of the activities that saw the global trade enabler expand its business horizons across the world.
New Women in Maritime Network Launched
Central and Latin America celebrated the launch of a new women in the maritime network in Valparaíso, Chile (13-15 December), which joins the International Maritime Organization (IMO) family of regional Women in Maritime Associations (WIMAs), giving visibility and recognition to the role women play as key resources for the maritime sector. Sixty two women from 18 countries (Argentina, Bolivia, Chile, Columbia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala…
DP World Increases Stake in Brazilian Port to 100%
DP World has completed the acquisition of an additional 66.67% stake in Empresa Brasileira de Terminais Portuários (Embraport) in Brazil from Odebrecht Transport (OTP). This transaction increases DP World’s shareholding to 100% and the terminal will be rebranded to DP World Santos. DP World Santos is the largest Brazilian private multi-modal port terminal and operates in the Port of Santos, which is the busiest container port in Latin America handling 3.4m TEU in 2016 and has strategic access to sea, road and rail, and 90% of the cargo is destined for Brazil’s most populous city, São Paulo.
FIT Completes First Call by Sealand SAE Service
Florida International Terminal (FIT), the SAAM-operated terminal in Port Everglades-Fort Lauderdale (U.S.), welcomed the Maersk Winnipeg, marking the first call by the new Sealand SAE service. The service is a weekly route between South Florida, Honduras and Guatemala and also offers inland transfers from/to Nicaragua and El Salvador. FIT is one of eleven terminals where SAAM has an ownership interest in the Americas. It holds the operating concession until 2025 (with a 5+5 extension option) and in 2016 reported container port throughput of more than 202 thousand TEUs.
Ecuador, DP World Begin USD 1bln Port Construction
The President of Ecuador Lenín Moreno and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem today performed a ground-breaking ceremony to mark the start of construction of the greenfield multi-purpose port project at Posorja, Ecuador. The ceremony follows the 50-year concession the company won last year from the Government of Ecuador to build a facility with 750,000 TEU (twenty-foot container equivalent) of capacity to fuel the country’s economic growth and connect it with international markets.
Grand Bahama Shipyard Reports Commercial Success
Caribbean shipyard Grand Bahama Shipyard (GBS) said it has completed work on 30 commercial vessels within first half of 2017, predominantly comprised of companies returning to the yard with repeat business including tankers, bulk carriers, containerships, tugs, dive support vessels and drilling support vessels. In what is considered a volatile market, GBS said 2017 has been a great year for repeat customers, solidifying its position as a supporter of the major U.S. East Coast…
The Port of Corpus Christi: Energy Port of the Americas
The Port of Corpus Christi lives up to its moniker ‘Energy Port of the Americas,’ as the movement of energy in and out dominates the port’s history and future. John P. LaRue, Executive Director, Port Corpus Christi recently visited Maritime Logistics Professional’s headquarters in New York City to discuss the nearly $50 billion in investment projects driving the port forward. “Let’s just start with what we are and what we are not,” said LaRue. “We are not a container port. Up until a few years ago we were an oil import port (serving) three refineries: Citgo, Valero and Flint Hills Resources.
Evergreen Rolls Out Sea Freight Services for Alibaba Members
Evergreen Line has teamed up with Alibaba.com to provide Alibaba.com members with the option of booking sea freight services online with guaranteed space and prices. Evergreen Line has also appointed Evergreen Logistics Corporation as a designated provider of customized, comprehensive logistics solutions for Alibaba.com members opting for its sea freight services. The growth of e-commerce has resulted in small, fragmented orders from global buyers. Taking note of the need for user-friendly logistics services of smaller volume shippers…
Ecuador to Eliminate Surcharge on Imports in June
Ecuador's new government on Wednesday said it would keep a promise to eliminate surcharges in June that had been applied to a third of all imports, a move likely to increase imports and consumption but hurt the balance sheet. Former president Rafael Correa imposed the surcharges, which come on top of tariffs, in 2015 in an attempt to protect Ecuador's oil-reliant economy, but his government last year established a schedule to unwind them by mid-2017. His successor and fellow leftist Lenin Moreno confirmed the surcharges would be eliminated on June 1…
Florida Terminal Adds Two Reach Stackers
Florida International Terminal (FIT), operated by SAAM in Port Everglades - Fort Lauderdale (Florida, U.S.A.) acquired two new reach stackers Taylor model XRS-9972, a North American firm. The terminal now has 15 container handlers. The arrival of this new equipment is part of the company’s fleet renovation plan that started in 2015. “With this, we seek to continue strengthening the terminal’s handling capacity to provide better and more efficient service to our clients,” explained FIT VP and CEO, Klaus Stadthagen.