Cruise Meet at Posidonia Forum
The biennial Posidonia Sea Tourism Forum will be held from May 28-29, 2019, at the Domotel Kastri Conference Center, in Athens’ northern suburbs. Here there will be more than 30 senior cruise executives responsible for ports and destinations from the world’s biggest cruise lines, including MSC Cruises, Royal Caribbean Cruises, Holland America Group, Disney Cruise Line, Silversea Cruises, Fred Olsen Cruise Lines and Celestyal Cruises among others.Elisabetta De Nardo, VP Port Development…
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
DP World buys back P&O Ferries for $421 mln
DP World has bought back British ferry and shipping freight operator P&O Ferries for 322 million pounds ($421 million), more than a decade after it sold it.DP World acquired the British shipping and logistics company in 2006 but soon sold off some assets, including P&O Ferries to its major shareholder, state holding company Dubai World.DP World announced on Wednesday it was buying the company, and a spokeswoman later told Reuters it had bought it back from Dubai World.Dubai World was at the heart of the emirate’s financial crisis at the turn of the decade and was forced to restructure around $
DP World's Q4 Dubai Box Traffic Sags
DP World reported a fall of 4.6 percent in fourth-quarter shipping container volumes in Dubai that the government-controlled port operator blamed on a drop in low-margin business.Dubai's Jebel Ali, the largest transshipment port in the United Arab Emirates, and Mina Rashid port account for about 20 percent of DP World's global volumes.The two ports handled 3.6 million 20-foot equivalent units in the three months to Dec. 31, compared to 3.8 million in the same 2017 period, DP World said in a statement.Dubai container volumes also fell in the third quarter."In the UAE…
Waypoint Singapore Opens New Office
Waypoint Port Services Singapore Pte Ltd (‘Waypoint Singapore’) celebrated the opening of its new office premises with an inauguration event last week.The guest of honor for the event was Schulte Group CEO, Ian Beveridge, COO of Bernhard Schulte Shipmanagement, David Furnival, and CFO of Bernhard Schulte, Tobias Pinker, who cut the ribbon at the ceremony. Other guests included customers and partners of Waypoint Singapore, representatives from port operators PSA Singapore and Jurong Port…
PSA, SUTD to Build NewGen Port Operators
Singapore's port operator PSA Corporation Limited (PSA) has signed a memorandum of understanding (MoU) with the Singapore University of Technology and Design (SUTD) to develop a pipeline of talent for the future mega port in Tuas.The MoU is aimed at producing data science, info-communications and engineering professionals for the Tuas port, said a joint statement by PSA and SUTD.The new Tuas Port will harness big data, and leverage automation technologies and smart systems to raise terminal productivity and service quality…
Cargo Ships Caught in Russia-Ukraine Storm
Russia-Ukraine naval clash followed shipping holdups Ships bound for Ukrainian ports say they are held up while those bound for Russian ports go through.When the Island Bay cargo ship arrived from Beirut at the Kerch Strait, gateway to the Azov Sea, it sailed into a perfect storm of geopolitics and bad weather.The following day, Russia opened fire on three Ukrainian naval ships, impounded them and detained their sailors, some of them wounded. It then blocked the strait by putting…
Kalmar Helps Port of Long Beach to Meet Green Objectives
Kalmar's new all-electric terminal tractor is helping the Port of Long Beach (POLB) meet its eco-efficiency objectives while satisfying the commercial demands of the users of the second-busiest container seaport in the US.According to a press release from Kalmar, a part of Cargotec Corporation, POLB in California handles trade worth in excess of $180bn from 175 shipping lines connecting to 217 seaports around the world. In 2017, more than 7.5 million container units passed through…
Finance Conference Speakers Take Optimistic View of Shipping Market Trends
The fourth Maritime Standard Ship Finance and Trade Conference, held at Abu Dhabi’s Sheraton Hotel and Resort, was in many ways very different from the preceding three events in this increasingly popular series. While in other years the sense of challenge and adversity was dominant, this year speakers at the one-day conference were generally much more optimistic and upbeat about market prospects, although a number of potential hazards on the road to full recovery were also much in evidence.Conference chairman…
Port Groups Join for Go Green Initiative
Five global container port operators have jointly undertaken a week-long initiative to promote sustainable resource usage in their respective port and facility networks through mass recycling.During the fifth annual Go Green Initiative, 8,332 employees of DP World, Hutchison Ports, PSA International, Port of Rotterdam and Shanghai International Port Group collected a total of 1,966 kg of aluminium cans and 2,227 mobile phones for recycling.The choice of two very different waste products for collection and recycling was intentional.Aluminium cans are one of the most recyclable waste items…
Kalmar Supports Port of Long Beach Electrification
Kalmar, part of Cargotec, has signed a contract to supply a fully electric Kalmar Ottawa T2e electric terminal tractor to Long Beach Container Terminal (LBCT) for a six-month demonstration period. The order was booked in Cargotec's 2018 third-quarter order intake with delivery scheduled for Q1 of 2019. A press release from the cargo handling solutions and services provider the Port of Long Beach, California, is the second-busiest container seaport in the U.S. and handles trade…
COSCO Shipping Ports Revenue Surged by 62.6%
COSCO Shipping Ports said that its revenue for the three months ended 30 September 2018 surged by 62.6% to US$253.0 million. The net profit for the same period rose by 11.8% to US$75.1 million.The ports operator in a press release also said that the revenue for the nine months ended 30 September 2018 was surged by 73.5% to US$748.4 million where as adjusted net profit rose by 46.6% to US$244.1 million,For the nine months ended 30 September 2018, the Group’s total throughput increased by 20.6% to 87…
DP World's Dubai Shipping Box Volumes Slide in Q3
DP World's shipping container volumes in Dubai fell 6.7 percent in the third quarter, with the port operator warning on Tuesday that the near-term outlook for Dubai's major Jebel Ali Port remained challenging.DP World operates Dubai's Jebel Ali, a major transhipment port and the largest port in the United Arab Emirates, and the Mina Rashid port.Dubai government-controlled DP World, one of the world's largest port operators, blamed the fall in cargo volumes on the challenging macro…
Focus on African Ports and Hinterland Connectivity
When a ship comes into port it may be the end of a voyage, but just the beginning of a range of administrative tasks that need to be completed.The port is unlikely to be the final destination for the cargo – which will need to be unloaded and forwarded in a variety of ways. This requires logistics and infrastructure that connects the port to other inland places and regions – known as ‘hinterland connectivity’. This was the issue under the spotlight at the first regional conference of The International Association of Ports and Harbors (IAPH) in Abuja…
DP World Plans 10-year Dollar Sukuk, 30-year Conventional Bond Sale
DP World, the Dubai logistics group and one of the world's biggest port operators, will meet fixed income investors ahead of a planned 10-year benchmark dollar sukuk offering, a document issued by one of the banks arranging the potential issue showed on Monday.The company has hired Barclays, Citi, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, Société Générale and Standard Chartered Bank as joint bookrunners for the planned sukuk, or Islamic bond.
Djibouti Nationalizes Stake in Doraleh Container Terminal
Djibouti has nationalized the two-thirds stake in its Doraleh Container Terminal held by the Port of Djibouti, the government said in a statement, the latest twist in a dispute with Dubai's government-controlled DP World dating back six years.In February, Djibouti ended a contract with DP World, one of the world's biggest port operators, to run its Doraleh Container Terminal (DCT), and seized control of the terminal.A London court later said DP World's contract to run the terminal was still valid.The port of Djibouti, PDSA, is itself majority-owned by the Djibouti state and in turn owns a two-
U.S. Gulf Coast Ports Being Inspected After Storm Gordon
Energy companies and port operators along the U.S. Gulf Coast were taking steps on Wednesday to resume operations after Tropical Storm Gordon shut 9 percent of the region's oil and gas output.Coast Guard inspectors were flying over ports in Mississippi and Alabama to inspect the facilities, which remained closed to most traffic, Petty Officer 3rd Class Alexandria Preston said. In New Orleans, pilots have begun moving cargo ships through mouth of Mississippi River after storm, a spokesman said.Reporting by Gary McWilliams
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.
Maersk, IBM Say 94 Organizations have Joined Blockchain Platform
Shipping group Maersk said on Thursday 94 companies and organizations have so far joined a blockchain platform developed with IBM aimed at boosting efficiency and limiting the enormous paper trail of global container shipping.The industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy.Under its new strategy, which includes the creation of an industry-wide blockchain-based trading platform, Maersk aims to expand its transport and logistics business in areas such as freight forwarding an
DP World Acquires Unifeeder for $762.6 Mln
DP World, one of the world's largest port operators, said on Tuesday it had acquired 100 percent of Unifeeder Group, a Danish logistics company, for 660 million euros ($762.6 million).The acquisition from Nordic Capital Fund VIII and certain minority shareholders will boost DP World's presence in the global supply chain and broaden its product offering to its customers, shipping lines and cargo owners, DP World said.Based in Aarhus, Denmark, Unifeeder operates a container feeder and a shortsea network in Europe, serving both deep-sea container hubs and the intra-Europe container freight market
London Court Rules DP World Djibouti Contract "valid and binding"
Dubai's government said on Thursday the London Court of International Arbitration (LCIA) has ruled DP World's port container terminal contract in Djibouti was valid and binding.The government of Djibouti seized the Doraleh Container Terminal from DP World in February over a dispute dating back to at least 2012. Dubai government-controlled DP World has called the seizure illegal."The LCIA Tribunal has ruled that Doraleh Container Terminal's Concession Agreement 'remains valid and binding ...'" Dubai's government media office said in a statement, which did not state when the ruling was made.
DP World to Build Logistics Hub in Mali
DP World is set to build and operate a logistics hub in Mali under a 20-year concession agreement signed with the West African country's government, the Dubai state-owned company said on Wednesday.Construction of the first phase of the 1,000 hectare (10 square kilometers) hub, to be known as the Mali Logistics Hub, will start next year and take 18 months to complete with an estimated initial investment of $50 million, DP World said in a statement."The Mali Logistics Hub will dramatically improve the cost and time of trade for Mali," said Mali's minister of equipment and transport, Moulaye Ahme
Container Ship “Afif” Named in London Gateway
It took British Maritime Minister Nusrat Ghani just one go to activate the mechanism that sent a big champagne bottle crashing against the massive sidewall of the “Afif”. This marked the official naming of the 15,000 TEU container ship on 16 July 2018. The name “Afif” is of Arabic origin and means “purity” and “honesty”; also, Afif is a city in central Saudi Arabia. The ship is technically equipped to use LNG fuel. With its ten sisters, “Afif” belongs to the category of “Ultra Large Container Vessel”, the second-largest ship class in Hapag-Lloyd’s fleet.
ICTSI Wins Sudan Port Contract
Philippines-based International Container Terminal Services Inc. (ICTSI) said it has been chosen by the government of Sudan to handle the operations and management of the South Port Container Terminal (SPCT). In a disclosure to the Philippine Stock Exchange yesterday, ICTSI said the state-run Sea Ports Corp. of Sudan (SPC) has confirmed it as the preferred bidder to operate and manage the SPCT under a 20-year concession. ICTSI, controlled by gaming and ports tycoon Enrique Razon Jr.…
ZPMC USA Expands Coast-to-coast
ZPMC USA is currently working on 25 cranes in nine locations that showcase a broad range of service capabilities.ZPMC USA has hired 50 new employees to support a coast-to-coast workload and its recently added parts division servicing the eastern and southern United States. Formerly known as ZPMC Crane Services, ZPMC USA has opened a warehouse in Portsmouth, Va. to complement its original parts depot in Los Angeles.ZPMC USA is the service subsidiary of ZPMC North America Inc, which is Shanghai Zhenhua Heavy Industries Co. Ltd. (ZPMC)’s operating company in North America.
DP World Plans Logistics Facility in Ethiopia
Dubai-based ports operator DP World has revealed plans to set up a logistics facility in landlocked Ethiopia, a move that comes as the company is developing a port in neighboring Somaliland. A reuters report quoting the United Arab Emirates state news agency, WAM said that the Sultan bin Sulayem, DP World Group's chairman & CEO and chairman of Ports, Customs and Free Zone Corporation informed the media that the logistics complex in Ethiopia to cater to the landlocked African countries.