Port News

Hyundai Merchant Marine said it will spin off its dry bulk division and its two U.S. West Coast container terminals as the Korean company seeks to bolster liquidity at its core container shipping business.

The privatization of the port of Piraeus has been delayed as Greece’s snap general election Sept. 20 interrupted preparations by government transport and finance officials.

The volume handled at India’s major public ports grew a meager 2 percent in the first fiscal half amid sluggish global trade demand and growing service bottlenecks at some of the country’s main container gateways, particularly Jawaharlal Nehru Port Trust.

The oldest container terminal in Rotterdam, ECT City Terminal, has closed after nearly fifty years, because it can’t handle the ever-larger vessels calling at Europe’s top container port.

HHLA, Hamburg’s leading terminal operator, has downgraded its 2015 earnings forecast in response to declining traffic at Germany’s top container port.

Indian Shipping Minister Nitin Gadkari said the government plans to spend roughly Rs. 70,000 crore (approximately $10.7 billion) on upgrades for major public ports under the “Sagar Mala” project over the next five years.

Container volumes handled by West Coast ports are returning to historical levels, but the weekly manpower requirements for handling the containers is about 15 percent higher than in the past. That suggests terminal operators are struggling to adjust to the complexities caused by mega-ships, vessel-sharing alliances and chassis shortages.

Container volumes at Panama’s ports totalled just over 4 million 20-foot-equivalent units during the first seven months of this year, up by 4.4 percent from the same period last year.

As the Port of New York and New Jersey tries to reduce chronically long lines for the 86 percent of its containers that move by truck, there are growing cries to extend gate hours. But there’s a problem — many distribution centers aren’t open late to receive the cargo.

The fast-growing port of Tauranga has begun widening and deepening its shipping channels to handle larger vessels after a more than four-year court battle over the project.