Timor-Leste, a Southeast Asian country, inaugurated the new deepwater port of Tibar Bay, a new maritime gateway to the Asia-Pacific region. H.E. Dr José Ramos Horta, the president of the Republic of Timor Leste officially inaugurated the Tibar Bay Deepwater Port on 30 November 2022, in the presence of Philippe Labonne, CEO of Bolloré Ports, […]

The board of directors of the Port Authority of Valencia (PAV) has approved the construction Project for the container quay of the north extension of the Spanish port, with a base budget of more than US$570 million of public investment. MSC’s port subsidiary, Terminal Investment Limited (TIL) will add over US$1 billion to the budget […]

Akinada Bridge Greek tonnage provider Euroseas has sold a 2001-built Panamax container ship for recycling, joining Evergreen Marine Corporation and Shreyas Shipping & Logistics, which offloaded ships for demolition earlier this month. Singapore-based Star Asia Shipbroking said in its latest report that the Aristides Pittas-led Euroseas had sold the 5,610 TEU Akinada Bridge for a firm US$14.25 […]

The board of directors of the CMA CGM Group met under the chairmanship of Rodolphe Saadé, the company’s chairman and chief executive officer, in order to review the financial statements for the third quarter of 2022. According to the group’s statement, CMA CGM showed very strong financial results despite inflation, slowing consumer spending and economic […]

Wan Hai chairman Chen Bo-ting believes the freight market will turn around in mid-2023, as concerns over Russia’s invasion of Ukraine and Covid-19 should ease by then. Since the middle of the year, freight rates have fallen from historical highs and are expected to reach the low levels seen before Covid-19 hit in 2020. Chen […]

Port of Shenzhen The container throughput of Chinese ports reached 244.9 million TEUs from January to October 2022, which represents a year-on-year increase of 4%. Additionally, Chinese ports have seen a slight year-on-year growth of 0.5% in terms of tons, handling 12,933.8 million tons in the first ten months of the year. The chart below […]

In the first ten months of the year, there was a fall in the number of containers entering and leaving Valencia port, especially in the transshipment sector. According to data from the Statistical Bulletin of the Port Authority of Valencia (PAV), between January and October, a total of 4,336,957 TEUs have been moved through the […]

Air Products and Mabanaft announced their intention to build Germany’s first large-scale, green energy import terminal in the port of Hamburg. The project was announced on 17 November at a ceremony in Hamburg, which was supported by German Federal minister for economic affairs and climate action Robert Habeck and first mayor of Hamburg Dr. Peter […]

Engineers from Associated British Ports (ABP) Immingham team have returned from Germany where they have been carrying out the final factory acceptance testing of the port’s three new mobile harbour cranes. The Liebherr 420s will be arriving later in November from Rostock in northern Germany. The new investment has cost US$11.5 million with an additional […]

Fitch Ratings has affirmed the Port of Oakland’s outstanding senior bonds at A+ and outstanding Intermediate Lien and underlying bank bonds at A. The rating outlook assigned by Fitch on all bonds is Stable. “These ratings reflect continued commitment to prudent financial management and stability,” commented Port of Oakland executive director Danny Wan. According to […]