Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

Maersk stops selling ships after scandal

From Port Technology:

”The health risks attached to ship scrapping are numerous and deadly, including, lead or asbestos poisoning, polychlorinated biphenyls and other dangers associated with heavy metals,” reports Port Technology.

In the wake of harsh criticism regarding Maersk’s decommissioning and selling of ships, aware they would be scrapped in dangerous circumstances in Bangladesh and […]

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Matson agrees to stop beaching ships

Shipbreaking operation in Bangladesh, where child labor is rampant. Matson has committed to look elsewhere for ship recycling in the future, a goal human rights activists hope other shipping lines will emulate.

American boxline Matson has agreed to stop beaching its ships for recycling in India, Pakistan and Bangladesh. Its last ship due for […]

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ICTSI profit up 20% at $172.4M in 2013

International Container Terminal Services, Inc. (ICTSI) recorded a 20 percent hike in audited consolidated attributable net income to US$172.4 million last year from the US$143.2 million earned in 2012.

In a disclosure to the Philippine Stock Exchange, the firm said the higher attributable net income was mainly due to strong revenue growth and margin improvement […]

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DP World Invests in London Gateway

DP World London Gateway has a weekly call by the Southern Africa Europe Container service operated by MOL, Maersk, Safmarine and DAL.

Starting in May, Hamburg-Sud and Hapag-Lloyd will operate the South America East Coast service, a South America West Coast, Caribbean, Australia and New Zealand service and a North America West Coast, India, Pakistan […]

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ICTSI results shows good results globally, but Portland problems on analysts’ radar

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 […]

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ICTSI to spend $150 million developing Honduras port

International Container Terminal Services, Inc. (ICTSI) plans to spend about $150 million in the next five years to develop the port in Puerto Cortes, Honduras, a senior company official said recently.

Last February, the Razon-led port operator was awarded a 30-year contract for design, financing, construction, maintenance, and operation of the Puerto Cortes facility, which […]

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ICTSI 1Q Net Profit up 15% on Year on Revenue, Cargo Growth

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 […]

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ICTSI Unit Acquires 35% of Pakistan International Container Terminal

International Container Terminal Services Inc. has announced its unit ICTSI Mauritius Ltd. has completed the acquisition of a 35% stake in Pakistan International Container Terminal Ltd.

PICT, which is publicly listed, has a maximum capacity of 750,000 twenty-foot equivalent container units, ICTSI said in a statement to the Philippines stock exchange. The company didn’t disclose […]

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Food shipments halted as Maersk bows to U.S. Iran sanctions

Iran’s civilian population is already reeling from sanctions that, according to the United Nations, are cutting access to medicine and humanitarian goods. But today, Maersk Line, the world’s largest shipping container company, announced it will end port service in Iran.

In Maersk’s statement, they declared that their cargoes had been limited to goods for the […]

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Pakistan terminal takeover by ICTSI: 'See it as a joint venture, not a takeover'

Workers at the Pakistan International Container Terminal

Despite the plan of global port operator, International Container Terminal Services Inc (ICTSI) to increase its share in Pakistan International Container Terminal (PICT) to 55%, Director Aasim A Siddiqui said the multi-million-dollar investment should be seen as a joint venture instead of a takeover.

He also said that […]

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How corporate agribusiness supplies the lion's share of US food aid

Development charities have been concerned for some time that corporate agribusiness supplies the lion’s share of the contracted food aid and the Guardian investigation bears this out.

It is not surprising ADM, Cargill and Bunge dominate food aid, since they dominate global grain trade too. They are also powerful political players; in the first […]

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JaxPort turns down $250 million deal

The Jacksonville Port Authority has turned down a proposal by an international shipping firm seeking to lease 100 acres at Blount Island for a cargo terminal that would have been one of the port’s biggest.

Gulftainer Co. Ltd. also said it would spend around $250 million in Jacksonville if it built a terminal here, according […]

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Pakistan asks US to create fund for coal projects

Dwindling investment interest has prompted Pakistan to ask the United States to create a coal development fund in collaboration with multilateral donors, like the Islamic Development Bank, in order to provide a financing window for less-developed but coal-rich countries for setting up coal-fired power plants.

The proposal comes in the wake of reluctance of donors […]

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ICTSI to acquire stake in major Pakistan port

Port king Enrique Razon Jr. is looking to expand his reach in the Middle East through an acquisition of a major port in Pakistan.

Razon’s International Container Terminal Services Inc. (ICTSI) announced in a disclosure earlier this month its intention to acquire as much as 55 percent of Pakistan International Container Terminal (PICT), a port […]

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Follow the Money: The Cost of the War on Terror

Broken down individually, the government has spent $806 billion for Iraq, $444 billion for Afghanistan, $29 billion for enhanced security and $6 billion on “unallocated” items. The vast majority of all the money appropriated has gone to the Department of Defense. … Only $8 billion (or 1 percent) went to veterans’ care, via the […]

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