Kalmars parent in the money

The new Mediterranean Shipping Company (MSC) terminal being developed adjacent to the port’s largest container terminal facility, operated by Maritima Valenciana, is expected to commence operations in June/July 2006 and the unofficial word on the street is that Maritima Valenciana will operate this facility on behalf of MSC. Given the large volume of traffic that MSC now moves through the Maritima Valenciana facility and the inevitable movement of containers between the two facilities that will take place, especially in the start-up phase of the MSC terminal, this arrangement makes a lot of practical sense.

Kalmar’s parent company, Cargotec, reported a 42% increase in third-quarter profit. Net income rose to €30.2m compared with €21.3m in the comparable 2004 period. Forecasts are for full year revenue of ?2.3bn and an operating profit of €170m.