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 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.
The Panama Canal cast fresh doubt on the planned Nicaragua canal on Monday, saying there isn’t enough cargo to support two canals, that the price tag is far above what Nicaragua says it will cost and that necessary tolls to pay for it would need to three times what the Panama Canal charges today.
Container throughput at India’s major public ports was up 2.21 percent year-over-year in the first 10 months of fiscal year 2015-16, but the growth would have been slightly higher if the largest container handler, Jawaharlal Nehru Port Trust, hadn’t faced slowdowns due to prolonged industrial unrest at the DP World facility in the harbor last month.
Electrification of container terminals is hugely expensive, but for large ports such as Los Angeles, Long Beach and Oakland, it may be the only way to handle growing cargo volumes in a sustainable manner, the vice president of the Pacific Merchant Shipping Association said Monday.