• Uncertain return to cruising pressures US Port...

    Recently updated cruise guidance from the Centers for Disease Control and Prevention (CDC) provides a more concrete path to potentially resuming some US cruises in July, which would help stabilize cruise port financial performance and ratings, Fitch Ratings says. Port revenues from cruise operations declined sharply over the last year in the US, with cruise ports recovery at a standstill.

  • World Bank positions Sines as one of the best...

    The Port of Sines is the 18th world port with the best performance, according to the statistical approach carried out by the World Bank and the consulting company IHS Markit. These two entities prepared the “The Container Port Performance Index 2020” which assessed the competence of 351 ports in the containerized cargo segment, taking into account the time of the ships in the port, from the entry to the end of operations.


  • The Port of València moves 479,171 containers in...

    Data on goods movements and container traffic from Valenciaport for the month of April show that the port facilities managed by the Port Authority of Valencia (PAV) have closed the crisis generated by the COVID-19 pandemic. In April 2021, the Valenciaport docks operated 479,171 containers, i.e. 26,687 TEUs (standard 20-foot container) more than in April 2019, the year without the pandemic. In relative figures, this represents a growth of 5.9%, while compared to April last year, the increase is 9.9%.


  • Subic Q1 container throughput up 10 percent...

    Cargo container throughput from export and import transactions in the Subic Bay Freeport unexpectedly increased in the first quarter of this year, although fewer ships called here due to trade slowdown amid the Covid-19 pandemic.


  • Indian port shutdowns may affect shipments of...

    Some Indian ports are feared to face shutdowns during the country’s devastating wave of COVID-19 cases, including major ports handling shipments from China. Chinese logistics companies worry that the suspended operations might cause further delays in shipments of emergency medical equipment and cargo.


  • California Ports continue to see record volumes

    California’s major seaports all reported continued record results in April driven largely by strong consumer sales which are driving record levels of imports. The ports of Long Beach, Los Angeles, and Oakland all reported new records for the month and continued to expect strong imports continuing into the summer of 2021. However, they noted that the downside is the continued weak exports levels at each of the ports.



Fitch affirms Adani Ports at ‘BBB-‘; outlook negative

Fitch Ratings has affirmed India-based port operator Adani Ports and Special Economic Zone Limited’s (APSEZ) Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘. The Outlook is Negative. A full list of rating actions is at the end of this commentary.


Gulftainer appoints Javier Echeverria as chief financial officer

Gulftainer, parent company of GT USA, which operates the Port of Wilmington and Port Canaveral, has appointed Javier Echeverria as its new chief financial officer. The recruitment of Echeverria is a next step towards the continued growth and international expansion of UAE-headquartered Gulftainer, one of the world’s leading privately owned independent port operators.


Los Angeles becomes first Western Hemisphere Port to reach 10M TEU

Fueled by the nearly year-long boom in imports, the Port of Los Angeles has become the first port in the Western Hemisphere to process 10 million container units (TEUs) in a 12-month period. The port marked the milestone with a ceremony today, June 9, alongside the symbolic loading of a container aboard the CMA CGM Amerigo Vespucci.


Kalmar enters into Strategic Cooperation with Sichuan Port and Shipping Investment Group in China

Kalmar, part of Cargotec, has led the delegation to the signing ceremony of the Strategic Cooperation Agreement between Sichuan Port and Shipping Investment Group (SPSI) and Cargotec Corporation on 8 June 2021 in Chengdu, China. The agreement covers the vision of the two parties to establish a long-term cooperative relationship from the development of land port, water port, logistics park, multi-mode transport, intelligent logistics integrated services as the starting point.


Retail Sales Continues to Drive Import Volumes at Major US Ports

Strong retail sales as US consumers return to stores with COVID-19 restrictions being relaxed are continuing to drive record import numbers and contribute to the record-setting volumes across America’s largest container ports. According to the National Retail Federation, the volumes are on track to set new records for the year. The retail trade association, however, notes the continued disruptions to the supply chain and the potential to cause challenges as retailers prepare for the busy fall and holiday season sales periods.


Congestion grows in China’s Yantian Port due to COVID-19 outbreak

The container shipping industry and global supply chain from China are facing a fresh challenge due to a disruption at Yantian and the neighboring Shekou ports in southern China near Hong Kong. The province is facing increased restrictions, which are impacting port operations at one of China’s busiest export terminals, due to newly reported cases on COVID-19.