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As part of today's commemoration event celebrating the contributions of Tanjong Pagar Terminal to Singapore's economy, PSA has achieved a first-ever GUINNESS WORLD RECORDS™ title for the Largest shipping container image. Located in the heart of Tanjong Pagar Terminal, the feat involved 359 shipping containers taking the shape of the Lion Head symbol of Singapore. The formation is visible from both the air and the central business district.

The Review of Maritime Transport 2017 says that seaborne trade grew by 2.6 per cent in 2016, reaching 10.3 billion tons. Although this was a welcome improvement to the 2.1 per cent growth recorded in 2015, the boost in demand was offset by a 3.2 per cent increase in the industry's carrying capacity, which reached 1.86 billion dead-weight tons earlier this year.

With the current orderbook of 90 mega-vessels of more than 14,000 TEU to be delivered in the next three years, the Asia-Europe trade will see 88% of vessels in excess of 14,000 TEU by 2020, according to market intelligence provider in the container shipping industry SeaIntel Maritime Analysis.

COSCO Shipping Holdings’ takeover bid for Orient Overseas International Limited (OOIL) has passed the anti-trust review in the United States, the company said.

Dubai, United Arab Emirates, Tuesday 24 October 2017: DP World Limited handled 52.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first nine months of 2017, with gross container volumes growing by 10.0% year-on-year on a reported basis and 9.6% on a like-for-like basis, with the third quarter growth rates accelerating to 13.5% year-on-year on a reported basis and 13.3% on a like-for-like basis, ahead of second quarter growth and Drewry Maritime's upgraded industry estimate of 5.5% throughput growth in 2017.

Getting ready for peak season

• Fully assembled LHM 800 from Germany to Chile
• Terminal Pacífico Sur (TPS) in Valparaíso is preparing for the peak season in handling fruits and other temperature sensitive cargo
• TPS trusts in reliable Liebherr technology – two new Liebherr STS gantry cranes will be delivered in 2018

On Wednesday 18 October, the Panama Maritime Authority (AMP) held a kick-off ceremony for the construction of the new Amador Cruise Port. A complete new cruise terminal at the Pacific Side of Panama will be built over the next 18 months.

PANAMA CITY, Oct 18 (Reuters) - A group including China Harbour Engineering Company Ltd (CHEC) has started building a $165 million port in Panama for cruise ships, the first project announced between China and the Latin American nation since they re-established diplomatic ties this year.

The shareholders of COSCO Shipping Holdings Co. passed special resolutions at the extraordinary general meeting held on October 16, approving the takeover bid of Orient Overseas (International) Limited.

The construction of Anaklia Deep Sea Port in the Black Sea Region is scheduled to start on December 20, 2017, the Anaklia Development Consortium (ADC) informed.

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Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

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