• 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 April 24

18:57 L&T Group's insurance subsidiary calls off proposal for JV
18:51 BC Ferries prices $200 million in bonds
18:38 Sinopacific delivers another SPA80 OSV
18:20 Baltiysky Zavod to float out stern of Mistral-class LHD Sevastopol on April 30, 2014
18:15 13,386-TEU "COSCO ITALY" сhristened at Nantong COSCO KHI Ship Engineering
17:45 ENTSO-E's Nick Winser to address grid reliability and resiliency at DNV GL’s Utility of the Future Leadership Forum
17:33 Tankers Dmitry Pokrovsky and Valentin Gruzdev of Moscow River Shipping Company set sail on their maiden voyage
17:16 'Wait-and-see' mood to prevail in bunker market next week, expert says
16:49 Stricken chemical tanker Maritime Maisie finds SKorean refuge after 100-day ordeal
16:13 MOL vessel departs Chinese port
16:05 TransContainer posts its RAS net profit of RUB 1.06 bln, up 8.9%, in QI'14
15:48 Navios Logistics announces closing of $375M 7.250% senior notes due 2022
15:26 MSC announces switch of ports activities in the State of Oman
14:56 Sergey Tarakanov appointed as Deputy Director of Rosmorport’s Sevastopol Branch (photo)
14:34 Peel Ports Group inks £100M contract with ZPMC for 17 container cranes
14:17 Arkhangelsk Branch icebreakers receive Maritime Labour Certificates
13:50 Krasnoyarsk shipyard launches fifth flat-top barge of project 1960 for Yenisey River Shipping Company (photo)
13:22 UASC introduces new services for Asia-Europe trade
13:00 RF Government approves amended state programme “Development of Transportation System”
12:49 Tsakos Energy Navigation Ltd. announces PO of common shares
12:24 USCG seizes more than a ton of cocaine in Eastern Pacific Ocean
11:48 Luminous buyos set in Korsakov Seaport
11:31 Viking River Cruises plans to order 12 new ships, launch 2 new Rhine cruises in 2015
11:16 Euronav posts Q1 net profit of $1.4 million
10:55 RF Government approves state programme “Socioeconomic Development of Arctic Zone to 2020”
10:43 Marcon International brokered sale of ABS ocean deck barge "HML 240-2"
10:21 Baltic Dry Index up to 956 points
10:14 Two new HB Grandi fishing vessels to be fitted with the upgraded Wärtsilä NOx Reducer
09:37 Stena Line does not rule out calling at MMPK Bronka (Saint-Petersburg)
09:19 Rolls-Royce and Daimler agree on valuation of Daimler's equity interest in Rolls-Royce Power Systems
09:16 Mechel reports signing agreement on cargo transport pool system with TransContainer

2014 April 23

18:30 Hercules Offshore announces Q1 2014 results
18:10 Ten battery-operated heavy goods vehicles transport containers in HHLA Container Terminal Altenwerder
18:05 European Gateway Services and TX Logistik AG raise the frequency of connection between Rotterdam and Bavaria
17:46 Baku Shipyard secures first major contract from Shah Deniz
17:44 G6 Alliance expands Trans Pacific trade service structure
17:42 Two new HB Grandi fishing vessels to be fitted with the upgraded Wärtsilä NOx Reducer
17:41 UASC introduces its new Asia - Europe Network
17:19 Exploiting transit potential for freight transport is strategic priority at Russian Railways
16:33 Throughput of Rosterminalugol hits 4 mln t of cargo from year beginning
15:50 Stena Line to raise freight rates by 15% from 2015 due to new sulphur content limits in ECAs
15:26 BP agrees to sale of interests in four Alaska North Slope assets
14:41 Throughput of Northern Sea Route to be raised to 4 mln t by 2015, Vladimir Putin says
14:14 Putin says experts should hold on to every area of Russia’s Arctic continental shelf
13:52 Vladimir Putin: Russia needs single centre of responsibility for implementation of our policy in the Arctic
13:30 Dmitry Medvedev: project of Murmansk Transportation Hub to be implemented as scheduled and in full
13:20 Lamprell delivers its largest offshore platform for use in the North Sea
13:14 GD' Bath Iron Works gets two Navy contracts
12:55 Ministry of Justice registers FTS order on setting tariffs for icebreaking escort at NSR
12:38 OMV and Gazprom strengthen partnership
12:38 Cathelco supplies pipework anti-fouling systems for PSVs
11:51 Port of Hamburg (Germany) set to develop container transshipment
11:33 IHC Merwede secures order for 5,500m3 TSHD from TNPA
11:30 Vladivostok Administration, Rosmorport and Inflot Worldwide Rus sign collaboration agreement
10:27 Gazprom to meet increased European demand and secure additional gas amounts for premium Asia-Pacific market
10:01 Klaipeda Seaport (Lithuania) plans dredging up to 17 m and becoming a hub
09:33 Baltic Dry Index up to 939 points
09:16 Oil price down to $109.27 in London and down to $102.13 in New York

2014 April 22

18:36 CNOOC Limited announces Q1 2014 results
18:06 Nantong COSCO christenes container ship "COSCO ITALY"