• 2012 July 18 19:13

    ICTSI expects concession agreement for Nigerian port in August

    International Container Terminal Services, Inc. (ICTSI), which has proven to be the trailblazer in the Philippines and abroad, invests $ 300 million for the container terminal in Nigeria and express interest to bid for Davao port, PNA  reports.
    ICTSI Chairman and President Enrique K. Razon Jr. said ICTSI is pursuing the ongoing privatization opportunities in Africa.
    A number of African countries has been opening up their gateway ports to privatization.
    “We are now negotiating the final concession agreement for container terminal in Nigeria. It’s a sub-concession with Tolaram group, having a joint venture with the Nigerian Ports Authority,” Razon said.
    “We hope to finalize the concession agreement in August. Investments amount to $ 300 million,” he added.
    The African region provides good opportunity for growth and ICTSI is bent on participating in such growth.
    In the country, the Philippine Ports Authority (PPA) plans to bid out the Davao port also known as Sasa Wharf.
    PPA General Manager Juan Sta. Ana said the Davao port modernization project is submitted to the National Economic Development Authority (NEDA) board's Investment Coordination Committee (ICC) for approval.
    “We will have it bid,” Sta. Ana said.
    “We want to bid. We don’t want no bidding,” Razon stressed.
    ICTSI’s subsidiary, the Davao Integrated Port Stevedoring Service Corporation (DIPSSCOR), handles the cargo handling of the said port.
    The Department of Transportation and Communications (DOTC) prepared the Terms of Reference for the port’s privatization.
    PPA Davao said volume growth at Sasa wharf is at a rate of seven to 10 percent every year for the last eight years.
    The Port of Davao has a total cargo throughput of 5.194 million metric tons in 2010.
    Shipping lines such as American President Lines (APL) and Maersk Lines are pushing for the port privatization due to congestion.
    The vessels average waiting time before discharging at the port is around 40 hours and they spend extra time, tantamount to additional bunker fuel cost.
    ICTSI is also preparing the Manila International Container Terminal (MICT)’s berth 7 in case of accelerated growth in Manila.
    “Despite our expansion overseas, we remain bullish on the Philippines and it will always be our priority. And when the time comes for even brisker Philippine trade, the MICT will be ready with berth 7,” said Razon.
    “We’re looking at spending around P3.5 billion to P4 billion for berth 7, because we see continuous growth,” he added.
    ICTSI is also promoting heavily on its Subic port to be able to entice more shippers to use its new container terminals 1 and 2 (NCT1 and NCT2) with combined capacity of 600,000 TEUs.
    Businessmen said in order to increase the cargo traffic in Subic and Batangas port, PPA must issue a policy to shift foreign cargoes from the Port of Manila to Batangas or Subic.
    Christian Gonzalez, ICTSI Vice President and MICT general manager, said ICTSI makes sure that the necessary capacity in ports they operate are in placed.
    “If Subic port grows, we will be there and we will bring the capacity. We don’t make two ports, MICT and Subic compete against each other. The market will drive where the volume goes,” he said.
    Razon said “MICT will serve the cargo traffic volume in Manila, but you have markets in Central Luzon and Southern Luzon for Subic, which they hope to grow as well.”

2015 March 3

18:03 Vyborg Shipyard says delivery of icebreaker Novorossiysk (Project 21900М) delayed due to out-of-time financing and ruble devaluation
18:02 NewLead Holdings announces contract of affreightment for Newlead Markela
17:59 CMA CGM announces GRR from North Europe ports to the Far East
17:57 CMA CGM implements Port Congestion surcharge at Matadi port (DRC)
16:57 Bunker prices at Far East ports go up in early 10th week (graph)
16:04 James Fisher announces acquisition of Subtech Group Holdings
15:50 Deliveries of export oil products to RPK-Vysotsk-LUKOIL-II remain flat, y-o-y, at 1.84 mln t in Jan-Feb’15
15:26 Amended Law on Highways to facilitate shifting of cargo to water transport, official says
15:03 Crowley transports two massive 98,000-pound electrical equipment enclosures to Puerto Rico
14:49 RUSAL and FESCO sign agreement for freight forwarding at port Novorossiysk
14:30 Gazprom Neft reports IFRS financial statements for FY 2014
14:04 Scorpio Tankers announces financial results for the Fourth Quarter of 2014
13:26 Gazprom to put into operation LNG plant in Vladivostok in QIV’18
13:03 Royal Caribbean Cruises to sell Splendour of the Seas
12:03 CMA CGM announces Rate Restoration Program from all Asian ports (including Far East and Japan) to Mediterranean trades
11:53 Wärtsilä explosion proof (EX) -certified Ballast Water Management Systems ordered for new chemical tankers
11:02 CMA CGM announces GRR from North Europe ports to all Caribbean, Central American and North Coast South American ports
10:26 Star Bulk announces the delivery of 2 eco, fuel efficient ultramax bulk carriers
10:01 Baltic Dry Index up to 548 points
09:43 Resolutions of NCSP Group’s Board of Directors
09:18 Oil price down to $59.54 in London and down to $49.56 in New York

2015 March 2

18:06 Maersk Line remains the most reliable carrier in 2014 - SeaIntel
17:36 AS Tallink Grupp and Meyer Turku Oy contract for LNG powered fast ferry
17:23 HELCOM plans to adopt regional plan for Baltic Sea protection
17:06 Viking Neptun named and ready to operate for Technip
16:35 Johan Sverdrup contract the world’s largest heavy-lift vessel
16:21 Average wholesale prices for М-100 HFO up to RUB 10,614 in RF spot market
16:08 OOCL implements a Peak Season Surcharge for St. Petersburg including Ust-Luga
16:05 Swissterminal, Danser Switzerland and Ultra-Brag plan to build a container terminal with an annual capacity of 100,000 in the port of Weil
16:03 Shipping company Donrechflot opens river navigation one month ahead of schedule
15:50 FPS Famous Pacific Shipping starts new LCL service between Rotterdam and St Petersburg
15:28 United state order should cover entire shipbuilding in Russia, Russia's Deputy PM Dmitry Rogozin says
15:11 BW LPG exercises purchase option on VLGC Vermilion First
14:37 Victor Belyakov appointed as Vice President for Finance of FESCO Transportation Group
14:11 Lasse Stokkeland appointed new head of Havyard Ship Technology AS
14:00 Crude exports via CPC terminal up 14.5% to 7 mln t in Jan-Feb’15
13:39 Loading at Russian Railways network down 0.2% to 189.92 mln t in Jan-Feb’15
13:21 “K” Line introduces new medium - term management plan “ Value for our Next Century ”
12:10 Deepocean to provide IMR services to Petrobras
11:41 Ceremonial turn-out of young specialists held at Makarov University
11:30 “K”Line agrees time charter of VLGC with Astomos Energy
11:05 NYK and Astomos Energy conclude time-charter contract for new VLGC
10:53 MOL orders four 20,000 TEU containerships
09:46 Sovcomflot launches new website
09:28 Oil price up to $62.58 in London and up to $49.76 in New York
09:15 Baltic Dry Index up to 540 points

2015 March 1

15:40 Swiber posts net profit of US$31.2 million in FY2014
15:36 Panama Canal listens to industry feedback on new toll structure in public hearing
15:35 Volvo Ocean Race reaches New Zealand
15:33 Currency Adjustment Factor update
15:31 BW LPG announces delivery of VLGC BW Carina

2015 February 28

11:41 GSI wins 18 new vessel orders for 2014
11:36 Expansions for Dan-Bunkering in the Americas
11:23 Royal IHC and Tompkins UK join forces to launch TI Geosciences
11:02 Multraship takes delivery of Damen ASD 2810 Hybrid tug

2015 February 27

18:06 Hamburger Hafen und Logistik AG improves truck handling at its Hamburg container terminals
17:36 COSCON announces General Rate Increase for Transpacific trade
17:06 COSCON to implement General Rate Increase for Far East to West Coast South America & Mexico trade
16:49 Tallink Grupp posts EUR 27.3 mln profit in 2014
16:47 ClassNK updates its Guidelines for Floating Offshore Facilities