APM Terminals reported a 27.3 percent drop in net profit for 2015 as its container throughput declined by 5.9 percent because of divestments and weak volumes in some markets, parent A.P. Moller-Maersk Group said.
The rough Asia-Europe trade market and tit-for-tat sanctions between Russia and the West had a devastating impact on the Port of Hamburg’s throughput in 2015 by causing it to lose its status as the second-busiest port in Europe.
China Merchants Group plans to build a new outer seaport on the basis of the existing Klaipeda seaport in Lithuania, one of the largest seaports in the Baltics, while investing in in Klaipedos Smelte, the largest loading company in the port, according to recent statements from Arturas Drungilas, director of marketing and general affairs for the Klaipeda seaport.
Jawaharlal Nehru Port Trust, India’s biggest, public, container handler, has relaxed conditions set earlier for using its “direct port delivery” facility for clearance of import cargo from its own terminals.
Maersk Group’s 2015 profit tumbled 82 percent to $925 million as record low freight rates and a write down in the value of its oil assets savaged the Danish shipping giant’s annual earnings.
The White House’s $4.1 trillion budget proposal unveiled Tuesday once again falls far short of the targets set by legislation President Obama, himself, signed less than two years ago.
The Agriculture Transportation Coalition said a new international container weight verification rule threatens U.S. exporters with lost business and supply chain “turmoil,” and warrants a congressional inquiry.
Containerized imports at U.S. ports are projected to increase by double digits in January and February compared to the same months last year, when dozens of vessels were stranded outside of West Coast ports due to labor problems.
A dozen tugboats pulled a mega-ship out of the mud of the Elbe River so that it could call at the Port of Hamburg, illustrating the pressure such gargantuan ships place on ports and rescue crews.
A 10 percent increase in traffic at Itapoá port to 512,000 twenty-foot-equivalent units driven by a 25 percent surge in chicken exports to 41,200 containers in 2015 has left Itapoá in dire need of new equipment and more capacity.