Regulation and Policy
Terminal operator DP World has moved forward with plans to block the sale of the Port of Melbourne following a proposed 750% hike in rates at the site. The government of the Australian state of Victoria is keen to sell the site to raise much needed capital but has run into opposition from businesses in the port.
French shipping giant CMA CGM expects strategic alliances to continue driving growth for its international container business this year, following a set of strong financial results for 2014. The company highlighted the success to date of its Ocean Three alliance as one of the key drivers for a 5.3% rise in revenues last year.
Container terminal firm APM Terminals has welcomed a milestone in its U.S. operations with three Ultra-Large Container Vessels (ULCV) docking at its Pier 400 Los Angeles site earlier this month. On the back of growing throughput from larger ships the firm has also reported it is “on track” to meet its 2016 goal to generate $1 billion in profits.