Ships are once again sailing in the busy shipping lane off Houston after hurricane Harvey shut down ports, refineries, and other businesses on the US east coast. The bill could total billions, according to one estimate.
Terminal operator DP World is not pleased with the conditions for a contract renewal in Indonesia and has thus opted to withdraw as operator of the terminal when the current contract expires in two years.
In the Port of Rotterdam, the secretary of union FN Havens, Niek Stam, hopes that the current strike will bring the operators back to the negotiating table. If not, more strikes will follow, he tells ShippingWatch.
Large vessels and alliances have changed the scenario for terminal companies radically. Dubai-based DP World, citing two factors, believes that the company is in a strong position compared to competitors, says Flemming Dalgaard, Senior Vice President, Global Strategy of the company to ShippingWatch.
One of APM Terminals' largest investments, the acquisition of Spanish Grup Maritim TCB, has yet to bring in major gains. This is evident from the annual report for the Maersk family's investment company A.P. Møller Holding, which has had to cut its dividends in half after a tough year for the Maersk Group.
Maersk Tankers has been sold to the Maersk family's holding company at a time when investors are staying far away from product tanker. But the carrier could be sold on when the market recovers, analysts say.
The powerful US dockworker union ILWU has succeeded in slowing the development towards automation in Los Angeles and Long Beach. A new law holds that environmentally-friendly vehicles in the ports must not be fully automated or remote controlled in order to secure subsidies.
Wilh. Wilhelmsen will pay NOK 545 million to boost its ownership stake in offshore company Norsea Group to 72 percent. "We wish to have an exposure towards the energy market, primarily oil and gas," explains the company.