Perrigault SA to acquire APM Terminals Le Havre share
Perrigault SA., the Le Havre - based port and logistics operator and APM Terminals announce the completed sale of APM Terminals’ 50% share in Terminal Porte Océane (TPO) and Société d’Exploitation du Terminal Porte Océane to Perrigault SA. on 22 July 2014, the company said in its press release.
Terms of the deal were not disclosed. Both companies operated a 50 - 50 joint venture in Le Havre. TPO signed the concession agreement with Port Autonome du Havre (currently Grand Port Maritime du Havre) back in 16 May 2006.
APM Terminals Europe Region CEO, Ben Vree said, “We have enjoyed our partnership with the Perrigault Group and our time serving the Le Havre shipping market. Our agreement today reflects our portfolio management efforts and the sale to Perrigault is good for all parties.”
Perrigault SA CEO Jean Bekaert added, “Our decision to expand our share demonstrates our strategic commitment to serving the French market with the finest port and logistics services in Le Havre. As a leader in the French market, we look forward to continue working with our customers to meet their future demands.”
Port Hedland Deckhands Approve Strike Action a Second Time
Tugboat deckhands at Australia’s Port Hedland approved industrial action for a second time this year amid a dispute over leave and wages, risking disruption to iron ore exports through the largest bulk export terminal.
Members of the Maritime Union of Australia approved an unlimited number of 2-hour and 4-hour stop-work meetings and unlimited work stoppages of 6 hours and 12 hours, the Fair Work Commission said today, citing the results of a ballot. The union represents deckhands at Teekay Shipping (Australia) Pty., which is contracted by BHP Billiton Ltd. to run tugboats in the port.
Strikes by workers, should industrial action happen, may slow exports by companies including Fortescue Metals Group Ltd. and BHP, which estimated that disruption may cost suppliers about A$100 million ($94.3 million) a day. Iron ore shipments through Port Hedland climbed to a record in May as output from mines expanded. Prices tumbled 29 percent this year amid forecasts for a widening global glut as supplies expand. Source: Bloomberg
Another fast-track three billion dollars mega project, an LNG terminal at Gwadar and a pipeline to Nawabshah, is being launched by the Nawaz Sharif government with Chinese collaboration.
In a major strategic move, the Ministry of Petroleum and Natural Resources (MoPNR) has decided to build the LNG terminal and pipeline through a Government-to-Government (G2G ) arrangement with China. Experts say this would mean that the project will not be advertised for open international bidding. Two Chinese companies have already shown interest in building the LNG terminal at Gwadar and lay down the pipeline. The pipeline will require $1 billion and over $2 billion will be needed to construct the terminal with LNG handling and re-gasification facilities and to erect large LNG storages facilities.
“This will be the second LNG terminal as the first fast track terminal is being constructed by Engro’s ETPL (Elengy Terminal Pakistan Limited) at Port Qasim, which is scheduled to be completed by March 31, 2015 but we are hoping that the terminal will be completed by December this year,” the minister said. To a question, the official said that LNG terminal to be constructed at the Gwadar Port will have handling capacity of 690 mmcfd and in addition, large LNG storage depots at Gwadar will also be constructed from where after re-gasification, gas will be transported to Nawabshah to be injected into the national gas network.
Source: The News International
Tin-can Island Container Terminal’s presence in Nigeria has given the nation the chance to work with partners from other countries, which in turn helps its growth. But as challenging as that can be, the experience can offer tremendous dividends to those willing to take the plunge. Such is the case with Tin-can Island Container Terminal, whose presence in Africa has handed it the chance to work with partners from other countries, which in turn is helping it grow in Africa.
The company is a subsidiary of China Merchants Holdings (International) Co Ltd based in Hong Kong and listed on the stock exchange there in 1992. It now runs a container terminal in Lagos, the busiest port in West Africa. Its partners are the French industrial and investment holding company Bollore and a Nigerian container terminal company.
With the China-African Development Fund, China Merchants Holdings (International) bought 47.5 percent of the company from ZIM Integrated Shipping Services of Israel in 2010, and Bollore and the local partner own the rest, says Shi Haisheng, the company’s director. Tin-can Island Container Terminal now owns and operates Terminal B of the Tin-can Island port in Lagos. The terminal has a shore frontage of 770 meters and a container holding area of 240,000 square meters. It has three berths with an operating capacity of 360,000 standard containers.
Oman International Container Terminal enhances capabilities at Sohar Port
Oman International Container Terminal (OICT) has successfully completed the complex, month-long task of moving its massive quayside cranes together with other container handling equipment from its old terminal at Sohar Port to its state-of-the-art Terminal C.
Four post-Panamax cranes, each weighing a mammoth 1,050 tonnes and eight Rubber-Tyred Gantry Cranes (RTGC) were relocated from the old Terminal B to OICT’s new high-tech terminal which became operational in May. With this dramatic upgrade of Terminal C’s facilities, OICT hopes to handle volumes well above the new terminal’s design capacity of 800,000 TEU per annum through the efficient deployment of modern equipment. OICT also plans to increase its workforce to further boost productivity levels, he added. Source: Oman Observer
According to the Panama Canal Authority the first gates of the Panama Canal expansion program have been moved to the new locks complex on the Atlantic side, marking another milestone in the $5.25 billion project.
Goldman Sachs buys into Turkish Petkim’s Aegean port near Aliaga
U.S. multinational investment banking company Goldman Sachs has become a partner in Turkey’s largest integrated port, operated by petrochemicals maker Petkim, in a deal that will boost the company’s plans to develop the port to make it largest of Aegean region.
Petkim has announced that it has reached a preliminary agreement to sell its 30 percent stakes in Petkim Limancılık (Petlim) for $250 million, after months of talks that started in February this year.
Petkim and Petlim are controlled by the Turkish branch of Azeri energy giant Socar. Petlim was founded to deal with the economic operation of Petkim’s port in the Aliağa district of the Aegean province of İzmir.
“One of the world’s biggest investors becoming a partner to our port company means approval of the value and economy of our project,” Socar Turkey President Kenan Yavuz said, speaking after a ceremony to mark the signing of the deal as well as a preliminary financing agreement with Turkish lender Akbank for the port project.
“We have signed a preliminary agreement for our port investment’s project financing with one of Turkey’s largest banks Akbank. We will secure $211 million in financing with a 13 year maturity within the term-sheet,” Yavuz said.
Global oil major Shell will join the special purpose vehicle for executing the floating storage regasification unit (FSRU) for liquefied natural gas (LNG) at Kakinada.
The Infrastructure and Investment department had finally given its go ahead for inducting Shell as a partner in the SPV with equal tolling rights at par with GDF Suez with 26 per cent stake. The decision comes in the light of the recommendations given by a high-level committee of secretaries of key departments as well as the opinion of the Solicitor General of India.
In its order (GO Ms 4 dated July 19), the I&I Department said setting up of the first FSRU on the east coast would have the first-mover advantage and it was of strategic importance for the State to have the FSRU at the present location. Shell was an international market leader in the natural gas and LNG field with vast financial, technical and managerial expertise. The JV would benefit from the participation of Shell and the international oil major would add overall financial market value to the proposed FSRU project.
COME 2030 and the Mtwara Port would be handling some 28 million tonnes of traffic, thanks largely to the gas boom in Mtwara and Lindi regions.
A HUGE leap indeed for the Port located 580 kilometres Southward of Dar es Salaam whose current capacity stands at a mere 400,000 metric tonnes per annum.
To reach the said target, the port will see four more berths constructed and a free port established as Tanzania Ports Authority sets out to fully exploit on the massive discoveries of the resource estimated at over 50trillion cubic feet.
Mtwara Port Master Absalom Bohella says once the port attains its full potential in the wake of gas discoveries, the economic benefits to the region would be there for all to see and tap. Mr Bohella observes that the port has been a sleeping giant that is now about to rise to prominence as a result of the expected gas boom.
“Mtwara has the potential to overtake Tanga and rival Dar es Salaam ports in the near future,” says Bohella, brimming with confidence. The Port, built by the colonial government in the 1950s is mainly designed to handle conventional cargo. However, it can deal with up to 750,000 metric tonnes if additional equipment is put in place for handling containerized traffic, says Bohella. Currently the port mainly handles break-bulk imports namely cement, food stuffs and miscellaneous general cargo while general exports are unprocessed cashewnuts to India and other Asian countries.