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As part of continued efforts in testing and developing advanced port technologies, PSA Singapore (PSA) has invested in 22 new Automated Guided Vehicles (AGV) for its container terminals, bringing the fleet to 30 units.

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CMA CGM S.A. (CMA CGM) and PSA Singapore Terminals Pte. Ltd. (PSA) will form a joint venture company CMA CGM-PSA Lion Terminal Pte. Ltd. (CPLT) to operate and use four mega container berths at Pasir Panjang Terminal Phases 3 and 4 in Singapore.

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International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the quarter ended March 31, 2016 posting revenue from port operations of US$266.5 million, a decrease of 10 percent from the US$296.1 million reported for the same period last year; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$121.9 million, four percent lower than the US$127.5 million generated in the first quarter of 2015; and net income attributable to equity holders of US$42.2 million, down 22 percent compared to the US$54.0 million earned in the same period last year.  The decline in earnings was mainly driven by lower storage & ancillary revenues, unfavorable container volume mix, lower capitalized borrowing cost, higher depreciation and amortization expenses and start-up costs of new terminals and projects.  Diluted earnings per share for the period declined 40 percent to US$0.014 from US$0.023 in 2015.    

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The new deeper Suez Canal will be a beneficiary of the ‘One Belt One Road’ initiative taken by China’s charismatic leader Xi Jinping, especially when it comes to the opening up of the Iranian market following the lifting of international sanctions and the moving into importance of the Indian refinery markets, according to Denis Petropoulos, President of Braemar Shipping Services Asia.

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The facility, staffed with an in-house doctor, will provide free diagnosis, basic medical assistance and medicines as a resource available to the 2,200 outside truckers who serve India’s largest container port on a daily basis.

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Tuesday, 16 February 2016 14:46

Port of Antwerp on trade mission to India

True to its annual tradition the port of Antwerp is organising a trade mission to India in February this year. Port Authority chairman Marc Van Peel will be accompanied on his visit to Delhi and Mumbai by Pieter De Crem, the Belgian secretary of state for Foreign Trade. The agenda includes among other things the annual Port of Antwerp reception, the presentation of an award to the Indian forwarders’ association and the opening of a new course offered by JNPT APEC Port Training Centre that was set up in Mumbai last year in close collaboration with APEC, the Antwerp training centre for maritime professionals.

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Friday, 05 February 2016 11:39

APM Terminals Mumbai Introduces Solar Power

In the project’s first phase, roof-top solar panels will generate electric power of up to 361,000 kWh annually to help operate Mumbai’s busiest terminal.

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Friday, 05 February 2016 10:49

THE BOLLORE GROUP WINS THE PORT OF TIMOR

Following an international invitation to tender, the authorities of East Timor, advised by the finance institution IFC , have chosen the Bolloré Group to build and operate the deepwater port at Dili under a public-private partnership agreement.

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The new cooperation is being introduced to keep up with strong demand from Shippers Worldwide by providing them with the only deep water port: Nansha on the Western side of the Pearl River Delta

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PSA International Pte Ltd (PSA) handled 64.10 million Twenty-foot Equivalent Units (TEUs) of containers at its port projects around the world for the year ending 31 December 2015. The Group’s volume decreased by 2.0% over 2014, with flagship PSA Singapore Terminals contributing 30.62 million TEUs (-8.7%) and PSA terminals outside Singapore handling 33.48 million TEUs (+5.0%).

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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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