Money (no longer) talks 
The Copenhagen-based maritime consultancy Sea-Intelligence has taken a closer look at the financial results of major shipping lines in recent times. The first rank of carriers can look back on USD 124 billion in operating profits in 2021. In the first three quarters of 2022 the... more
When French and US-Americans sympathise
The Marseille-based CMA CGM Group has inked an agreement to acquire GCT Bayonne and New York terminals, on Staten Island. The two east coast facilities belong to Global Container Terminals (GCT). The price of the purchase wasn’t disclosed. The Port Authority of New York and New... more
More volumes in sweet waters
Puerto Aguadulce (Colombia) passed a threshold by handling the largest-capacity vessel so far to call the port and in the country at all. The ‘CMA CGM Argentina’, a 1,572 teu vessel, was built in 2019 and sails under the Maltese flag. The milestone highlights Buenaventura’s... more
More capacity for a shortsea service
Sweden’s Stena Line has added capacities to its route between Rosslare and Cherbourg. From June 2023 onwards the ‘Stena Vision’ will change from the Baltic to the Atlantic and second the ‘Stena Horizon’ on the route between France and Ireland. The vessel will have the... more
New unit digitalised into the fleet
SITC International, headquartered in Hong Kong, and Yangzijiang Shipbuilding have put a new vessel into operation, the ‘Haifeng Chenming’. The ceremony was largely held online, due to the policy to tackle the epidemic. The company now operates 98 vessels, including 75... more
Spaniards on the British coast
The first vessel in a new dedicated service from Spain and Portugal to Great Britain called at Teesport recently. The ‘Kristin Schepers’, a vessel with the capacity to carry 800 containers, arrived from Aveiro (Portugal) to discharge containerised cargo for onward distribution... more
First quay cranes arrive in Papua New Guinea
South Pacific International Container Terminal (SPICT), a unit of International Container Terminal Services Inc (ICTSI) located in the Port of Lae, can now handle larger box ships, thanks to the arrival there of two new ship-to-shore cranes, the largest port-handling equipment... more
Deepwater port operational in Timor-Leste
Tibar Bay Deepwater Port, a new port that will improve logistics services in Timor-Leste and develop into a regional transhipment hub, was officially inaugurated recently. The first public-private partnership in the country is in line with current developments in the maritime... more
Ammonia-powered vessel on the horizon
K Line has revealed that it has teamed up with the Itochu Corporation, the Nihon Shipyard Co, the Mitsui E&S Machinery Co and NS United Kaiun Kaisha and together they have obtained approval in principle from the Nippon Kaiji Kyokai classification society to design an... more
Saab stepping back from port management
Saab is selling most of its shares in Maritime Traffic Management (MTM), a provider of management solutions for vessel traffic, ports and terminals. The shares will be purchased by funds advised by Agilitas Private Equity, for an enterprise value of approximately EUR 40 million.... more