• 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.”


2016 August 30

09:58 FESCO’s consolidated revenue decreased by 33% YoY to $257.9 mln
09:40 Rosmorport takes delivery of buoy tender Krutoyar (photo)
09:17 Brent Crude futures price up 0.22% to $49.56, Light Sweet Crude – up 0.45% to $47.19

2016 August 29

18:02 Net profit of Transneft under IFRS up 12.5% to RUB 134.6 bln in HI’2016
17:50 Damen and Evoqua to launch DAMEN BALCON EC 1500 powered by SeaCURE® Systems
17:49 Chinese/Polish operator launches heavy-lift service to Russia, names St Petersburg based Neptumar as Booking Agent
17:24 Wärtsilä and Gasum cooperation aims at developing LNG markets
17:24 NOVATEK’s Board of Directors recommend 1H 2016 dividend
16:53 LUKOIL posts HI’2016 IFRS net profit of RUB 105.392 bln, down 37.1%, year-on-year
16:26 USCG responds to plane crash near Lake Front Airport
16:05 Navantia signs the Future Frigate Participant Services contract
15:38 The largest oil tanker in history at the Port of Gdansk
15:04 Samskip acquires Euro Container Line AS
14:12 Black Sea Fleet frigate Admiral Grigorovich performed air defence missions within the unannounced combat readiness inspection
13:36 YRSC’s M/V Kislovodsk delivered Douglas C-47 aircraft to Krasnoyarsk (photo)
12:49 Average wholesale prices for М-100 HFO up to RUB 7,779 in RF spot market
12:01 General Dynamics NASSCO christens and launches eco-friendly tanker
11:58 Network with Airbus, BAE Systems and Thales at SMi’s Naval Mission Systems Technology 2016
11:15 Konecranes to deliver 12 Rubber Tired Gantry (RTG) cranes to South Carolina Ports Authority, USA
11:04 Finnish Transport Agency posts an increase in international maritime transport of goods and passengers
10:37 Arctia Karhu’s harbor icebreaker Ahto participates in Nuotta 2016 -oil spill prevention and response exercise
10:12 LSC Group’s revenue for Q2 2016 was USD 50.08 mln
09:50 Warships of the Black Sea Fleet and the Caspian flotilla practice tasks on organization of air and anti-submarine defence
09:28 Baltic Dry Index up to 720 points
09:13 Brent Crude futures price down 1.24% to $49.53, Light Sweet Crude – down 1.39% to $46.98

2016 August 28

21:41 0.9 mln cruise ship tourists visited Korea in 1H of 2016
21:39 Abu Dhabi Ports adds a 1000-meter quay wall to Khalifa Port and deepens its channel and basin
08:42 Keppel to deliver Bumi Armada’s first North Sea FPSO

2016 August 27

15:16 E.R. Capital Holding and Rickmers Holding AG will not pursue the merger of their ship management divisions any further
15:14 Diana Shipping engages financial advisors to negotiate amendments to certain of its loan facilities
15:11 EGD joins Klaveness as partner in the combination carriers
08:18 Latvian Shipping Company posts revenue of USD 50,08 million for Q2 2016

2016 August 26

18:02 MV WERFTEN signs a letter of intent with Foreship
17:24 CMA CGM announces GRR from Asia to North Africa trades
16:59 Rates for pilotage fee changed at port Ust-Luga
16:24 CMA CGM implements GRR from Asia to North Europe
16:05 Evergreen, K Line, COSCO, Wan Hai and PIL to offer two new joint services for Indian Subcontinent
15:52 VARD secures contract for two luxury expedition cruise vessels for Hapag-Lloyd Cruises (photo)
15:43 Russian fishing fleet is being equipped with Gonets sattelite system of domestic origin (photo)
15:26 Hansa Heavy Lift transports giant pipe racks for new FPSO unit in Brazil
15:22 Seaspan closes the sale of its previously announced public offering of shares
14:21 Kalmar appoints Peter McLean to lead the Asia-Pacific region
13:50 Within the unannounced inspection Coastal Troops and Marines of Black Sea Fleet and Caspian flotilla performed marches to concentration zones
13:22 Ulrike Riedel to become HR Director of the EUROGATE Group
13:02 CMA CGM announces GRR from Asia to Mediterranean
12:19 The Grimaldi Group completes the acquisition of Finnlines
12:15 ABS announces the publication of The ABS Guide for Certification of Offshore Access Gangways
11:54 EC, Tekes selects Norsepower to develop the world’s largest rotor sail
11:20 High-level officials met in Riga to discuss Rail Baltica Intergovernmental Agreement
10:41 Dutch ambassador promotes the emergence of LNG platform in Lithuania
10:29 Matson signs contract with NASSCO to build two new Con-Ro ships for Hawaii service
10:19 WSS Suez Canal transit team to cut customer costs, workloads and confusion
10:08 Brent Crude futures price down 0.46% to $49.44, Light Sweet Crude – down 0.26% to $47.20
09:52 Rosmorport announces tender for maintenance dredging at port Temryuk
09:33 Indicative bunker prices are almost flat at the port of Saint-Petersburg (graph)
09:19 Baltic Dry Index up to 718 points

2016 August 25

18:46 Tuco Marine reveals a new Arctic Workboat Daughter Craft
18:05 Scania will introduce marine engines meeting the requirements of TIER III
17:37 The logistics division at IMPERIAL continues to grow
17:11 Royal IHC upgrades underwater pump-unit TSHD for Van Oord