Port News

HIT in Hong Kong
Hutchison Port Holdings Trust recorded a fall in first-quarter net profit of 49 percent, as a one-off gain in March last year and slowing foreign trade hit the performance of its Pearl River Delta terminals.

Cosco Pacific shrugged off concerns of a slowing China as its first quarter net profit surged almost 20 percent and container volumes grew by 6.6 percent compared to the first three months of last year.

Huge feeder networks required to serve the mega-vessels calling at Singapore and the growing number of connections generated by shipping alliances are placing the port under growing pressure.

The privatization of Kingston Container Terminal should help revive transshipment, but the new operator will face competitive challenges

Encouraged by a ruling late last year that found drivers at a Southern California drayage company were misclassified as independent contractors, a Teamsters-affiliated group is calling for a strike vote on Saturday by drivers throughout the Los Angeles-Long Beach port complex.

Hyundai Merchant Marine will become the first carrier to call at the port of Incheon’s new Sun-Kwang terminal when the Hyundai Tokyo ties up in mid-May as part of an Asia-U.S. G6 Alliance service.

HIT terminal in Hong Kong port
External contractors for Hongkong International Terminals have agreed to pay an above-inflation 5.5 percent increase in basic salary for dockworkers in the coming year, averting a threatened strike that would have heaped further misery on the struggling port.

Thousands of independent Brazilian truckers in Brazil are wracking shippers’ supply chains by holding blockages in five states across the country in protest of what they deem are low wages.