CMA CGM nears US$20 billion in third-quarter revenue, reduces net debt

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 […]

China ports handle 245 million TEUs so far with Shanghai, Ningbo and Shenzhen taking lion’s share

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 […]

Transshipment sector hurts port of Valencia box volumes so far in 2022

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 […]

Port of Hamburg to get green energy import terminal

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 […]

Port of Immingham to receive new cranes

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 confirms positive ratings of Port of Oakland

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 […]