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The new Total Terminal International Algeciras (TTIA) facility was officially opened at a ceremony in the Spanish port on Monday. Owned and built by the South Korean shipowner Hanjin Shipping and located in the Strait of Gibraltar, TTIA is the first semi-automatic container terminal both in the Mediterranean and Southern Europe. Several speakers mentioned the importance of [...] The South Carolina State Ports Authority wants to make all public port operations “common user,” a phrase people outside the maritime community learned when Maersk Line threatened to pull its business from the Port of Charleston. The SPA last year offered to move Maersk’s operations to what’s known as the common user gate, where SPA employees [...] Smoother waters after a dismal year for Hapag-Lloyd Hapag-Lloyd made a profit in the first three months of 2010 as increased cargo volume and higher freight rates ended a run of five consecutive quarters in the red. Germany’s largest ocean container carrier booked a slim operating profit of $17.4 million against a year-earlier loss of [...] APL at Busan The former Korean concession operated by a DP World consortium welcomed its first ship under its new management this week. Pusan Newport International Terminal (PNIT), a joint venture between PSA International (PSA) and Hanjin Corporation in Busan New Port, South Korea, started commercial operations and handled more than 800 moves from its [...] A Hanjin Heavy shipyard in Korea The shipbuilding industry accounts for 1.7 percent of the Korean GDP and a whopping 13 percent of its exports – yet since the economic crisis began in 2008 it’s been sinking into the murky depths. Not only have new orders continued to decline, but existing orders in Korean shipbuilders’ [...] With a wallet full of fresh investment capital from ABS Capital Partners, INTTRA is expanding its e-commerce booking services into East Asia with the opening of a new development center in China and a new office in Japan. The company, in which ABS invested $30 million in February to take a majority share from its [...] Maersk Line plans to add a direct, all water call from South Vietnam to the U.S. West Coast to its Trans-Pacific 6 service. By starting its first direct service from Vietnam to the U.S. West Coast, the Danish carrier joins what looks like a gold rush of carriers that have been setting up direct services [...] Containership charter rates are rallying as ocean carriers scramble for tonnage in response to a stronger-than-expected rebound in cargo volumes as the industry emerges from its deepest recession. A gearless Panamax vessel with 3,500 20-foot equivalent units capacity is earning $7,000 a day, up 19 percent from $5,450 in December and $425 above the 2009 average, [...] MSC ship in Brasil Customers of shipping lines created container shipping’s deepest crisis and contributed to persistent and damaging price instability in the sector, the head of the industry’s second-biggest operator has said. Gianluigi Aponte, chief executive of Mediterranean Shipping Company (MSC), told the Financial Times that every main line would survive the crisis, in [...] Container shipping lines in the Westbound Transpacific Stabilization Agreement (WTSA) are recommending a further general rate increase on ocean cargo moving from the U.S. to Asia. Effective April 1, 2010, WTSA carriers say they intend to raise dry cargo rates by US$300 per 40-foot container (FEU) and US$240 per 20-foot container (TEU), as well as [...] The CMA CGM Mozart in Hamburg CMA CGM, the struggling French container shipping line, will receive no conventional state aid but has spent months trying to persuade France’s sovereign wealth fund to invest, its finance director said yesterday, saying that efforts to bring in private equity investors, including Goldman Sachs and Texas Pacific Group, had [...] The U.S. Federal Maritime Commission, after a 45-day review, has allowed container lines in the Transpacific Stabilization Agreement (TSA) to discuss and coordinate strategies that will reduce air and water pollution, as well as vessel fuel consumption. The CEO of Hanjin Shipping Co. said it will be important for carriers, ports, terminals, regulatory agencies and [...] China Cosco Holdings Co., Hanjin Shipping Co. and eight other shipping companies plan to raise rates for hauling containers to Asia from the U.S. in a bid to end losses on transpacific routes. The Westbound Transpacific Stabilization Agreement set a guideline for lines to boost rates by $300 per 40-foot container and by $240 for [...] By halving its top cruising speed over the last two years, Maersk cut fuel consumption on major routes by as much as 30 percent, greatly reducing costs. But the company also achieved an equal cut in the ships’ emissions of greenhouse gases. “The previous focus has been on ‘What will it cost?’ and ‘Get it [...] Neptune Orient Lines, the world’s fifth largest container shipping firm, reported a wider-than-expected fourth-quarter net loss but said business conditions have improved. The company … has cut staff and reduced capacity over the past 15 months to cope with weaker cargo volumes, but it said demand is gradually returning. “There have been improvements in volumes and asset [...] |
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