• 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.”


2014 July 31

18:45 MABUX: Bunker fuel prices to remain firm next week
18:41 YugBunkerService adds two vessels to its bunker fleet
17:59 The Kerch Strait bridge will run through the Tuzla Spit, Dmitry Kozak says
17:38 EU approves sectoral sanctions against Russia
17:15 River port Lensk handles first shipment of pipes for the Sila Sibiri pipeline (photo)
16:38 Accommodation unit's topsides for Filanovsky field being towed to the Caspian Sea
16:15 Bollinger's Port Fourchon facility reaches 13 years without a lost time accident
15:51 “K” Line and Ports America reach deal on strategic partnership
15:44 ClassNK and partners to research into development of engine monitoring systems for MAN B&W Engines
14:57 Third serial corvette of Buyan-M class Veliky Ustyug undergoes tests in the Caspian Sea
14:31 Port Manatee awarded $1.8 million-plus security grant, facilitating advancement of three major projects
14:09 Crowley opens project management and logistics solutions office in Singapore
13:49 FortisBC selects contractor for $400 million Tilbury LNG Facility Expansion Project
13:27 Dorian LPG partners with Phoenix Tankers to establish a VLGC pool
12:49 Jack-up rig SEADON renovation nears completion at Zaliv Shipyard
12:08 200th shipset for Airbus A320 final assembly line loaded for China at HHLA Container Terminal Tollerort
11:58 Fincantieri to build new 143,000-ton cruise ship for Princess Cruises
11:55 Vostochny Port and Marubeni Corp. ink agreement on supply of equipment for coal handling facility, P3 (photo)
11:34 BAE Systems gets $54.6 million more for CG-64 work
10:24 UTD: Kerch ferry line's vessels transport 4,093 vehicles, 19,556 passengers
10:02 USC President: Russia needs to achieve a 100% import substitution in naval shipbuilding
09:47 Alexey Rakhmanov: Sanctions may pose some problems for USC
09:23 Baltic Dry Index gains to 754 points
09:16 Brent Crude prices drop to $106,51 in London, in New York - to $100.27
09:01 DP World threatens to shut down terminal in Western Australia
08:54 Russian Maritime Register of Shipping inks contract with Baku Shipyard LLC for the construction of three 38М high speed crew boats

2014 July 30

18:46 Hapag-Lloyd announces WHO for exports from Turkish port of Iskenderun
18:38 GPA tops 3 million TEUs, sets tonnage record
18:04 Fleet of 19 dredgers bound for port Sabetta (photo)
17:51 Vodokhod's cruise fleet passenger traffic down 4% to 68,000 people
17:19 Baltic Fleet's RV Admiral Vladimirsky sets out on its voyage around the world
17:12 Hapag-Lloyd announces RHD fee for false empty box return in Germany
16:54 Noble Corp. sets schedule for dividend payment
16:34 Höegh LNG Partners LP announces launch of IPO
16:29 Navios Partners H1 net income rises to $30.0 million
15:47 Russia's Rosneft and Venezuela's PDVSA ink offshore projects, joint venture agreements
15:33 Seaport St. Petersburg spends over $519,000 for H12014 green program
15:05 Rosmorport to pick contractor for building a navaids facility on Russky Island
14:34 VSMC awarded contract for Westermeerwind Wind Farm work
14:11 Höegh LNG unit PGN FSRU Lampung commences commercial operation
13:45 General Dynamics awarded $25M GPS contract from Lockheed Martin
13:21 Vostochnaya Stevedoring Co. adds yet another RMG 40 to its crane fleet
12:33 RV "Akademik Treshnikov" embarsk on its maiden Arctic voyage (photo release)
12:16 Southern Customs: 85% of ships arriving at Port Kavkaz enjoy simplified inspection procedure
11:24 Port Freeport takes delivery of two Post Panamax cranes
11:07 Kerch ferry line's vessels transport 4,201 vehicles, 18,715 passengers
10:43 Russian aircraft, ships take part in the Baltic marine search and salvage drills
10:23 Baltic Dry Index climbs to 747 points
09:43 AS Tallinna Sadam sees H1 net profit rise 16% to EUR 20.2M in H1
09:19 Brent Crude prices gain to $107,72 in London, in New York - fall to $100.97

2014 July 29

18:26 Larsen & Toubro revenue rises 10%, order inflow up 11% in Q2 2014
18:16 United Transport Directorate: Kerch ferry service not hit by EU sanctions
17:40 UCL Port freight throughput rose 9% in H1 to 15.4 million tonnes
17:14 ABS chosen to class the world’s first CNG vessel
17:06 IAA PortNews updates dredging tenders announcements
16:46 USCG Cutter Thetis returns after two-month patrol deployment in the Carribean Sea
16:38 IHC Hytech wins order for containerised air-dive spreads
16:29 Great Lakes wins $35 million land reclamation contract in Bahrain
16:19 Murmansk to host 7th Conference Arctic Development: Step-by-Step, Nov. 18-19, 2014
15:35 Lady Fox owner to pay out $83,969 in back wages