COMMENT: Globally there are far too many ports competing for the same clients and not earning enough revenue to cover the infrastructure demands of ever-larger ships, writes Ben Hackett.
Anxiety over the COSCO-OOCL deal and a loss of traffic on the US West Coast are occupying port managers' minds. Martin Rushmere reports
Cosco Shipping Lines’ Americas network is fully operational following a cyber attack, the company has said.
Cosco Shipping Lines has confirmed its Long Beach customer service centre (COSAG) has been “adversely affected” following a cyber attack on its US operations.
The Chinese ambassador in Lima has stated that Cosco Shipping Holdings is to build and manage the Port of Chancay, which is located some 58 kilometres north of the Peruvian capital. It will invest $2bn.
A US think tank has warned that Chinese investment in ports is being used to generate political influence, expand the military and create strategic advantages.
China now controls one-tenth of European container terminal capacity – a figure that is up more than 9% from the start of the decade.
Recovery seems to be on the horizon for some regions, finds Iain MacIntyre
COMMENT: Liner shipping seems to function on the basis of a merry-go-round logic when it comes to economic rationale, writes Ben Hackett.
COSCO SHIPPING Ports will become the sole shareholder of Zeebrugge container terminal in a EUR35m deal with APM Terminals.
Cargo throughput at key world ports saw a year-on-year increase of 6.8% in Q2 2017, a significant improvement compared with the growth of Q2 2016, and maintained the rising trend of Q1 2017, Shanghai International Shipping Institute said.
The acquisition of Orient Overseas Container Line (OOCL) by Chinese state-owned Cosco and Shanghai International Port Group (SIPG) signifies the agglomeration of the Chinese state-owned enterprises involved in the port sector, an analyst has said.
Chinese port operator Cosco Shipping Ports (CSP) faces a “probable write-down” when the Spanish assets of its latest investment, Noatum Port Holdings (NPH), are tested for impairment, analysts have said.
WSP’s Johan-Paul Verschuure & Andrew Penfold ask if consortiums are the new development model
The MoU between COSCO SHIPPING ports and CMA Terminals Holding shows that the container arms of the shipping lines are also allying themselves to each other, in addition to the shipping lines and opposing ports.
COSCO Shipping Ports Limited and Hutchison Port Holdings Trust have entered into a formal collaboration for the co-management and operation of 16 berths across Terminals 4, 6, 7, 8 and 9 at Kwai Tsing in Hong Kong.
The global GDP in Q3 of 2016 has increased by 2.8% quarter on quarter, according to a newly published report from the Shanghai International Shipping Institute.
APM Terminals has concluded an agreement with China COSCO Shipping Ports for the sale of a minority share in a new joint venture created for the APM Terminals Global Terminal Network’s operations in Vado, Italy.
COSCO SHIPPING Ports Limited (CPSL SPV) has entered into a concession agreement with Abu Dhabi Ports Company to operate the new Khalifa Port Container Terminal 2.
Global shipping consultancy, Drewry, says as the sector is being faced with the dual challenges of weaker demand growth and rising costs due to larger vessels and alliances, terminal operators are looking to consolidate terminal ownership.
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