From Delaware Online:
Dole Food Co. will continue moving bananas and other fresh fruit up the Delaware River and into the Port of Wilmington for the next 15 years thanks to a lease signed Tuesday.
Dole is the largest tenant at the port. The company had been contemplating a move to Paulsboro, N.J., until reaching a deal in principal in August to continue to do business at the Port of Wilmington.
In an effort to keep Dole and other fruit customers like Chiquita and Pacific Seaways, Local 1694 of the International Longshoremen’s Association agreed two years ago to a contract that cut the union’s pay by 7.5 percent, and froze it for the life of the contract, which runs through 2018.
More at Delaware Online
Excerpts from Transport Topics:
At 4,628,117teu, the Philippines-based terminal operator International Container Terminal Services Inc [ICTSI] handled 13% more containers in the first nine months of 2013 than it did in the same period of the previous year, improving its net profit by 22%.
However, Drewry Maritime Equity Research (DMER), which analyses the financial performance of shipping and port companies, has suggested the company’s finances could be hit by a continuing problem at its operations in the US west coast port of Portland, where a labour dispute between two rival unions is pushing its major customer, Hanjin, to the verge of quitting the port.
“We believe that if Hanjin leaves the terminal, there would be an impact on earnings for ICTSI. The Portland terminal’s approximate volume and revenue contribution to group level numbers for 2012 was 3% and 5% respectively,” it wrote.
A subsidiary of International Container Terminal Services, Inc. (ICTSI) is changing hands, after the port operator and its partners forged a preliminary deal to sell all their stake in the unit concerned, ICTSI said in a disclosure recently.
ICTSI said its “subsidiary, Cebu International Container Terminal, Inc. (CICTI), is the subject of a sale and purchase agreement executed Nov. 28 by ICTSI and CICTI’s other shareholders as sellers…” and CARPDC and HKL as buyers.
Sought for comment, ICTSI Vice-President and Treasurer Rafael J. Consing, Jr. said the sale “is covered by confidentiality agreement” until it is concluded.
More at Business World Online
From the Oregonian:
Here are five key takeaways from the report, which was filed with the Australian Securities and Investments Commission (akin to the U.S. Securities and Exchange Commission).
1. Ambre Energy has had trouble raising money. The report says the deal giving Resource Capital more control is the only way for Ambre to keep operating, “particularly in light of recent unsuccessful capital raising attempts.”
2. Ambre isn’t insulated from an industry-wide downturn cutting stock prices of coal companies. Ambre isn’t publicly traded, so it doesn’t have a stock price to follow daily. But the independent expert estimated that if it were public, its stock would’ve dropped between 37 percent and 69 percent since early 2012.
Full article at the Oregonian
From the Journal of Commerce:
The majority of public comments sent to the Federal Maritime Commission regarding the proposed P3 Network were supportive of the vessel-sharing alliance among the world’s three largest global container lines.
The strong showing of support for the P3 appears to have been boosted by a form letter. Despite the uniformity of many of the public comments, the responses highlight some anxiety over the P3 and provide FMC commissioners with questions to pose to the carriers.
Speculation has raged since the three carriers announced plans for the VSA in June over the impact the P3 would have on capacity, rates and services in the world’s three largest trade lanes: the trans-Pacific, Asia-Europe and trans-Atlantic. Some of those answers came when MSC released comprehensive details of the plan in October.
More at the JOC
China remained publicly noncommittal about extending new financial support to Ukraine’s embattled President Viktor Yanukovych during his visit this week to Beijing. Still, the former Soviet country won a commitment from a more unusual source: a Chinese businessman most famous for wanting to build a rival to the Panama Canal.
Wang Jing, who this year unveiled plans to build a canal in Central America’s Nicaragua, said he signed a deal recently with a Ukrainian company spearhead private development plans there starting with a $3 billion deep-water port.
China is already Ukraine’s biggest trading partner in Asia, and the two nations have cited growing ties from agriculture to fisheries and military equipment. The country’s strategic location on the Black Sea appears to particularly interest Beijing, as ports in the former Soviet state have figured into much of the talk about investment potential.
More at China Real Time
APMT Santos, Brasil
Brasil Terminal Portuário (BTP) was officially opened at the new 1.2 million TEU annual capacity facility at the Port of Santos. Development of the multi-purpose terminal project in South America’s busiest container port began in 2007, with APM Terminals acquiring a 50% share from Terminal Investment Limited (TIL) in 2010.
The 490,000 square meter (121 acre) terminal is equipped with eight Ship-to-Shore cranes, 26 RTGs, 40 terminal trucks, and an automated 18 lane gate. It is constructed on a remediated brownfield industrial site.
The Port of Santos, the busiest container port in South America, handled 3 million TEUs in 2012, with total Brazilian container throughput of 8.3 million TEUs for the year.
From an APM Terminals news release
The plan by Maersk Line, CMA CGM and Mediterranean Shipping Co. to form the world’s largest vessel-sharing alliance, which would control about 25 percent of the container volume in the trans-Pacific, presents great opportunity for U.S. ports, but also significant competitive risks.
In an attempt to influence the world’s three largest carriers that will make up the P3 Network and other lines to ship more containers through its port, the Los Angeles Harbor Commission in early November approved an incentive program that will pay carriers for every container they ship through the port in 2014 above what they shipped in 2013.
In Los Angeles-Long Beach, carrier tenants sign leases that commit them to a minimum annual guarantee of volume. In the alliance environment, any volume above that guarantee is in play for the other port.
Read the full article at the Journal of Commerce
After months of decline, Fairview Terminal saw a significant jump in traffic last month.
The total tonnage handled by the terminal in November increased 16.69 per cent year-over-year, from 43,532 TEUs in 2012 to 50,798 TEUs in 2013, with imports climbing from 25,286 TEUs last year to 28,940 TEUs this year, an increase of 14.45 per cent.
While the numbers for Fairview Terminal were strong in November, the same cannot be said for the other terminals under the Prince Rupert Port Authority umbrella.
Prince Rupert Grain was the only terminal to see a year-over-year increase, climbing 4.03 per cent from 566,010 tonnes last November to 588,806 tonnes this November. The terminal is up 12.5 per cent so far this year having moved 4.76 million tonnes compared to 4.24 million tonnes.
More at the Northern View
The 28,450-dwt Da Cui Yun has the capacity for 1,735 containers as well as general cargo. The multipurpose vessel operator posted net losses totalling CNY42.8 million (US$7 million) for January-September, and losses of CNY49.7 million during the same period a year earlier.
A COSCO Shipping Co Ltd (Coscol) heavylift vessel has been detained in Singapore since Monday by legal representatives from Incisive Law for “unspecified reasons”, according to a document from the Singapore Supreme Court.
It said the company is not known to have any cash issues, although Coscol has faced mounting losses in recent quarters due to weak freight rates.
In 2011, several bulk carriers linked to China Cosco Holdings, the flagship unit of Cosco Group, were arrested in disputes over charter payments with a number of Greek shipowners.
More at SeaNews
Alaska’s location has made it prominent in discussions about the development of Arctic shipping.
Tschudi Shipping is to explore the possibility of establishing a transshipment port in western Alaska, Lt Governor Mead Treadwell said.
Tschudi wants to establish a location to serve as an intermediate or transshipment site for goods and commodities shipped to and from Scandinavia and Europe via its port facilities in Kirkenes, Norway along Russia’s Northern Sea Route and through the Bering Strait bound for Pacific US, Alaska or Far East ports.
Treadwell said the collaboration on a potential Alaska transshipment port location is a direct result of the Dept. of Commerce effort. He said Tschudi joins other European ports in Norway, Iceland, and Germany that have expressed an interest in cooperation with Alaska ports.
More at Sand and Gravel
Louis Dreyfus announced in October a joint venture with Brooklyn Kiev LLC to develop and manage a multi-commodity terminal at the Ukrainian Black Sea port of Odessa.
As competition has intensified to secure farm-sector assets in response to rising global food demand, privately-held Louis Dreyfus has turned to bonds to support higher investments.
The Netherlands-based company, which issued bonds for the first time in its 150-year history in September 2012, said on Wednesday it had wrapped up the 500 million euro issue of a seven-year Eurobond listed on the Luxembourg Stock Exchange.
Last year, Louis Dreyfus said it aimed to increase investments in the five years from 2012 by 40 percent compared with 2006-2011.
More at Reuters
A major investor is positioning itself to take control of the Australian company trying to build coal export terminals in Oregon and Washington.
A Denver-based private equity firm, Resource Capital Funds, could eventually own as much as 55 percent of Ambre Energy, according to the terms of a deal Ambre shareholders will be asked to approve when they meet this week.
It’s unclear what effect, if any, the change would have on coal export terminals that have stirred region-wide interest. Ambre says it remains well positioned to build the projects in Boardman and Longview, Wash.
More at The Oregonian
ZIM and the G6 alliance (APL, HMM, MOL, Hapag-Lloyd, NYK and OOCL) are holding discussions in order to cooperate in the Asia-Pacific North West Coast trade, expanding the current cooperation between ZIM and G6 on the Asia-US East coast trade, the company said in its press release.
The new structure is planned to commence from the second quarter of 2014. Any cooperative agreement will be subject to FMC approval.
More at IAA Port News