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International Container Terminal Services Inc. (ICTSI) said Thursday that its first-quarter net profit rose 15% from the year-earlier period, boosted by double-digit growth in its revenue and cargo volume. ICTSI said net profit in the January-March quarter rose to $40.7 million from $35.4 million in the year-earlier period, while total revenue increased 20% to $209.3 [...]  BHP Billiton’s proposed $US10 billion ($9.7bn)-plus diversification into the global bulk fertilizers market through the development of its Jansen potash project in Canada has received a seal of approval from Goldman Sachs. In a report that looks at the 10 major themes likely to emerge in the minerals space, Goldman identifies potash as the commodity [...] Developments in international trade and transportation will increase the amount of maritime tonnage that will sail through the Suez Canal. This article speculates on the possibility of linking multiple ships during the passage through the canal. Excerpts from Maritime Executive: As the volume of international trade grows, the volume of ship traffic or tonnage [...] DP World’s operations in the Indian state of Kerala are set for a massive boost following an end to a two-year struggle with local shipping laws. The Dubai ports operator yesterday received its first transhipment service at its International Container Transhipment Terminal (ICTT) in Kochi. Business at the terminal has suffered since it opened in [...] A trade union leader on Wednesday died after being hit by a bus he was trying to stop from plying as part of a two-day nationwide strike in India called by central trade unions, sparking tension in the district where authorities have imposed prohibitory orders. Narendra Singh, 55, who was squatting along with a group [...] India general strike, AITUC workers, February 2013. The worker who was killed was reportedly an officer in the All India Trade Union Congress (AITUC). In a tragic start to the two-day strike called by trade unions across the country on 20 and 21 February, a Haryana Roadways employee was killed in Ambala. An IBN-Live [...] AFP reports: Millions of Indian workers were expected to join a two-day nationwide strike starting Wednesday in protest against ‘anti-labour’ economic reforms introduced by the embattled Congress government. The government’s ‘big ticket’ reforms include opening retail, insurance and aviation sectors to wider foreign investment, hiking prices of subsidised diesel used by farmers and reducing [...] Our condolences go out to Mr. Govindaraj’s friends, family and colleagues. A 54-year-old supervisor died Dec. 4 after a giant metal hook dangling from a mobile crane hit him and ran over him while he was walking along a road inside Chennai Port. The mobile crane was on the move when the accident happened. Govindaraj, [...] APM Terminals’ management in India’s Port of Nhava Sheva (Jawaharlal Nehru) has appealed to local trade union and political groups to help restore normal operations at the terminal. The move comes after labor federations issued a call to shut down operations at Nehru’s largest container facility starting Oct. 8 if four suspended workers are not [...] APM Terminals Shanghai APM Terminals will open a new regional headquarters in Singapore in September to oversee its operations in Southeast Asia and the Indian subcontinent and free its Shanghai office to focus on China and Japan. A.P. Moller-Maersk’s port operating arm said the new headquarters will drive its effort to strengthen operations and [...] Jawaharlal Nehru Port Trust handles more than 55% of India’s container cargo and has three terminals at its facility. JNPT operates one container terminal, while DP World and APM Terminals operate the other two. The strike is at the APM Terminal, shown here before the strike, due to the hiring of ‘outsiders.’ Private container [...] Global terminal giants such as APM Terminals of Denmark, DP World of Dubai and Port of Singapore Authority (PSA) have continued to spurn India’s tariff fixing. Their complaint has been that the guidelines set by the government needs a review and the port regulator – Tariff Authority of Major Ports (Tamp) is creating a difficult [...] Steep declines in imports of furniture, toys and footwear in February helped pushed U.S. containerized imports down 5.8 percent year-over-year, the first decline in four months. An early Lunar New Year shutdown of factories in China exacerbated the year-over-year import loss, but the 18.6 percent month-to-month decrease still suggests weakening volume. Overall U.S. containerized imports [...] CMA CGM swung to a net loss of $30 million in 2011 from a $1.6 billion profit in 2010 but the French ocean carrier said cost savings and lower ship charter rates will return it to the black this year. Revenue was up 4 percent to $14.87 billion as traffic grew 11 percent against [...] Port of Portland’s container terminal this week received its first call from German carrier Hamburg Süd as part of new service announced last month offering connections to the Mediterranean Sea. The port last month announced Hamburg Süd would begin calling Portland, offering new and more regular calls to Mediterranean ports as well as feeder connections [...] |
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