On Monday, Seoul Central District Court awarded Korea Line the first right to purchase the Hanjin’s shipping assets on Asia-US route and a 54% stake in Total Terminals International LLC, an operator of Long Beach Terminal, California, writes the Wall Street Journal today. As we wrote earlier, five companies submitted initial bids for these assets, […]
Month: November 2016
Russia plans to build a new grain terminal
Russian JSC “United Grain Company” (UGC) has set up its 100% subsidiary – Far-Eastern Grain Terminal Ltd, with the aim to design and build a grain handling facility in the sea port of Zarubino (200 km to the south of Vladivostok, 70km to the Russia-China border), as announced in UGC’s press release of November 11. […]
HMM and Korea Line bid for Hanjin Asia-US business
Hyundai Merchant Marine (HMM) and Korea Line, owned by SM Group, have submitted final bids for the Asia-US assets of bankrupt Hanjin Shipping, writes Lloyd’s Loading List. Seoul Central District Court, which oversees Hanjin’s bankruptcy procedure, is expected to announce the preferred bidder this week. The sale is to be concluded by November 21. Hanjin’s […]
A new investor for Russian Railways inland terminal
Yingkou Port (China) will acquire from Russian Railways 49% of the share capital of Bely Rast logistics centre near Moscow on the basis of an open competition, announces Russian Railways’ press release. This is provided by the cooperation agreement signed by the President of Russian Railways (RZD) Oleg Belozerov and the CEO of China Yingkou […]
Ridiculous fines in Russian ports for violations of labour law
In Vladivostok, Russia, goes on the conflict between the dockers and the management of Vladivostok Sea Commercial Port (part of the FESCO Transportation Group of the Summa Group holding). Following the mass actions caused by the forced redundancy of the dockers of the port’s container terminal of which we wrote earlier, the transport prosecutor’s office […]
A new block train from China to Europe launched
The first container train from the Yiwu city in China through Russia to Latvian capital city, Riga arrived at the Riga Central railway station on 5th November, reports the press release of Latvian railways. The service was organized by Latvian and Chinese railways, Yiwu platform, “Interrail AG”, logistics subsidiary of Latvian railway, “LDZ Logistics” and […]
Liverpool2 opened
On Friday, 4 November 2016, a new deep water container terminal Liverpool2 was officially opened at the Port of Liverpool by the Secretary of State for International Trade, Rt Hon Dr Liam Fox MP. The facility is one of the UK’s largest private sector infrastructure projects, being a UKP 400 mln (USD 500 mln) investment […]
A 6-at-a-time spreader to handle empties
A new container handling system has been announced by UK-based ports consultants, writes Maritime Executive. The locking system, called BLOK-BEAM, enables a standard single spreader ship-to-shore crane to lift and transport six containers as one single block. BLOK-BEAM comprises a pair of steel beams unitizing three containers horizontally, three more can be interconnected directly below. […]
GEFCO secured an EUR 8 bln exclusive contract with PSA
The French automotive group PSA has awarded an EUR 8 bln exclusivity agreement to 4PL provider GEFCO to manage and optimise the automaker’s entire global supply chain. The agreement reaffirms that GEFCO is the PSA Group’s leading supplier in Europe, number two worldwide. The 5-year agreement will take effect on 1 January 2017. Under the agreement, GEFCO will […]
Maersk Q3 2016 financial results low due to liner and port operations
The Maersk Group has published its Q3 2016 results today. According to the press release, in the third quarter of the current year the Group delivered revenue of USD 9,177 mln (-9.2% y-o-y) and profit of USD 438 mln (-43.7% y-o-y). The negative results were significantly impacted by market conditions, particularly low container freight rates […]
