Kalmar acquires electric terminal tractor product line from Lonestar Specialty Vehicles
Kalmar, part of Cargotec, has signed an agreement to acquire the product rights of the electric terminal tractor product line from Lonestar Specialty Vehicles (LSV) in the United States. More specifically, as part of the transaction, LSV will transfer the immaterial assets for Kalmar and act as Kalmar’s contract manufacturing partner for the acquired electric […]
Shippers back in the pound seats as liner profits plummet
As expected, after two record years for the shipping lines, the market is moving into a post-pandemic reality – and shippers are moving back into the driving seat. “While 2022-Q4 gave us a first glimpse of what this might look like, 2023-Q1 was the first quarter where the carriers’ operating profits took a real hit,” […]
Japan’s container exports to US plunge in July
Container exports from Japan to the U.S. amounted to 48,965 TEUs in July (based on volumes at ports of origin), which plunged 10.9% from a year earlier and have registered a year-on-year contraction for five months in a row, according to Descartes Datamyne. From a month earlier, however, they improved 0.2%. Moreover, direct shipments accounted for […]
Construction of new Egyptian terminal begins
The construction of a new terminal in East Port-Said port, the northern entrance to the Suez Canal, started this week in Egypt’s northeastern city of Port Said. The contracts for developing the port were signed in November 2022 between the General Authority for the SCZone and the Sky Investment and Reliance Logistics Consortium. The two […]
Mawani and Port of Rotterdam collaborate to create smart ports
The Saudi Ports Authority (Mawani) has agreed to partner with the Port of Rotterdam on smart ports, human capital development, knowledge transfer, and performance optimisation in support of the Kingdom’s economic diversification efforts aimed at creating a state-of-the-art investment and trade hub. Omar Hariri, president of Mawani, and Boudewijn Siemons, CEO of the Port of Rotterdam […]
Kinetiko Energy finds gas reserves in Mpumalanga
Australian gas explorer Kinetiko Energy has discovered gas reserves in Amersfoort in Mpumalanga province which the Department of Mineral Resources and Energy (DMRE) has confirmed and welcomed. Kinetiko Energy, which focuses on commercialising advanced shallow conventional gas and coal bed methane projects, has a 49% stake in Afro Energy and has indicated that the discoveries have been […]
July container volume down in Port of Melbourne
Port of Melbourne reported total container throughput, full and empty, in July 2023 were down against July 2022. More specifically, full container imports volumes were down in July 2023 against July 2022 with domestic appliances, furniture and toys below last year’s volumes. Additionally, full container exports volumes were down against July 2022, with hay, chaff […]
Undersea connectivity cable to be fixed
The cable layer and repair ship Léon Thevenin has arrived in Cape Town harbour en route to effect repairs to the West Africa Cable System (Wacs) and South Atlantic 3 (Sat 3) undersea cables in the Congo Canyon, which are believed to have been damaged – probably by a rockfall earlier this month. From Cape […]
Port of Halifax celebrates longstanding relationship with Holland America Line
The Port of Halifax will host a shoreside ceremony on 28 August, 2023, to celebrate the longstanding relationship with Holland America Line. More specifically, the celebration will honour the 150th Anniversary of Holland America Line and 30 years of Holland America Line cruise ship calls at the port of Halifax. A welcome celebration will feature […]
Many ‘Brics’ do not make a solid bloc
On the lighter side of this week’s Brics Summit in Sandton, it is with some relief that only one new member of the bloc has a name starting with a consonant or the new acronym would have been a nightmare, says trade consultant Donald Mackay (*). The director at Global Trade Consultants was quipping about […]
