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Yang Ming Nears $7 Billion Revenue In 2024
port technology international
Yang Ming Nears $7 Billion Revenue In 2024According to Yang Ming, factors such as vessel rerouting owing to the Red Sea crisis and congestion at key ports aided in the absorption of extra capacity. Additionally, the robust economic performance of emerging Asian markets contributed positively to global economic growth. READ: Yang Ming boosts intra-Asian connections The first three quarters of 2024 saw excellent market circumstances, with increased cargo volumes and freight rates. The shipping company responded to these trends by optimising its service network and fleet deployment, maintaining service reliability and capitalising on market possibilities to improve operational performance. Given the company’s full-year profitability, future fleet renewal plans, and current global trade uncertainty, the Board recommended a cash dividend of NTD 7.5 ($0.23) per share to ensure financial stability and long-term viability. However, major uncertainties remain in the global trade outlook. Key risk concerns include US tariff developments, which may result in inflationary pressures owing to increased operational costs and have an influence on economic growth and trade activity. In response to FuelEU Maritime, the company plans to add up to six 8,000 TEU dual-fuel-ready vessels and up to seven 15,000 TEU LNG dual-fuel vessels. In December 2024, Yang Ming unveiled its 2025 Trans-Atlantic services.
port-and-ship
Mar 17, 2025
Cargo Ship Captain Charged Over Fatal North Sea Collision
port technology international
Cargo Ship Captain Charged Over Fatal North Sea CollisionCover image: ©Maritime and Coastguard Agency Motin, 59, from St Petersburg, Russia, remains in custody and is due to appear at Hull Magistrates’ Court, according to Humberside Police, the BBC reported. The Solong, sailing under the Portuguese flag, struck the anchored Stena Immaculate near the River Humber on 12 March while en route from Grangemouth to Rotterdam. The collision triggered a fire on board, with thermal footage capturing the moment of impact. According to the BBC, the Crown Prosecution Service (CPS) has named Solong crew member Mark Angelo Pernia, 38, from the Philippines, as missing and presumed dead. READ: Oil tanker and cargo ship on fire after North Sea collision The Marine Accident Investigation Branch (MAIB) is examining the circumstances surrounding the crash. According to initial findings, the Solong had frequently travelled the same route before it struck the Stena Immaculate, which was carrying 220,000 barrels of aviation fuel at the time, reported the BBC. SMIT Salvage teams have boarded the tanker to assess the damage, while firefighting efforts on the Solong have continued. Chief Coastguard Paddy O’Callaghan stated that only small fires remain on the Solong and that aerial surveillance has found no significant pollution risks. According to the BBC, the 23 American crew members of the Stena Immaculate remain in Grimsby and are expected to be repatriated soon.
port-and-ship
Mar 17, 2025
Hmm Pilots 3D Printing For Ship Components
port technology international
Hmm Pilots 3D Printing For Ship ComponentsAccording to HMM, the goal of this endeavour is to test the technology’s functionality in real-world sailing circumstances and evaluate its practicality for purchasing vessel repair components. The installed ‘3D Printing Digital Workshop‘ reportedly produces stainless steel components from metal powder, ensuring appropriate durability. If implemented, the method has the potential to shorten component lead times by allowing ships to quickly generate critical parts on demand. READ: HMM, Jawaharlal Nehru Port partner to develop Vadhvan Port This would enable prompt manufacture of required components, lowering inventory costs while avoiding additional charges and downtime during vessel repair. A representative of HMM stated: “We are committed to strengthening our competitiveness through the adoption of cutting-edge technologies and active participation in research and development of maritime sector.” Last month, HMM reported 2024 financial performance, with a revenue of KRW 11,700 billion ($8.05 million).
port-and-ship
Mar 17, 2025
Cma Cgm Dual-Fuel Methanol Ship Calls At Khalifa Port
port technology international
Cma Cgm Dual-Fuel Methanol Ship Calls At Khalifa PortThe CMA CGM ship built by Hyundai Samho Heavy Industries of Korea is a dual-fuel vessel able to run both on conventional and alternative fuels such as bio-methanol and e-methanol. The CMA CGM Iron, which has a container capacity of 13,000 TEUs, is the first of 12 new dual-fuel methanol vessels planned by CMA CGM, which is also planning to launch the Cobalt, Argon, Platinum, Mercury, Helium, Krypton, Thorium, Osmium, Silver, Copper, and Gold dual-fuel vessels this year and in 2026. The CMA CGM Iron made its call in Abu Dhabi as part of CMA CGM’s CIMEX1 service, which connects Asia to the Middle East Gulf region. CMA Terminals Khalifa Port is a joint venture between CMA CGM unit CMA Terminals (70 per cent) and AD Ports Group (30 per cent). With two berths totaling 800 metres in length, and a depth of 18.5 metres, the terminal is equipped to accommodate and handle the world’s largest containerships READ: AD Ports, Pakistan partner to drive digital innovation Christine Cabau Woehrel, Executive Vice President for Assets and Operations, CMA CGM Group, added: “The arrival of the first dual-fuel methanol vessel at Khalifa Port marks a significant milestone in our journey towards Net Zero Carbon by 2050. “It underscores the shared ambition of the CMA CGM Group and AD Ports Group to position CMA Terminals Khalifa Port as a sustainable, cutting-edge infrastructure, delivering optimal service and strengthening its role as a key hub connecting Asia, Africa, Europe, the Mediterranean, the Middle East, the Gulf, and the Indian subcontinent.” Last week, the Maritime and Port Authority of Singapore (MPA) and Enterprise Singapore (EnterpriseSG) published a new Technical Reference (TR) 129 on Methanol Bunkering through the Singapore Standards Council (SSC).
port-and-ship
Mar 17, 2025
Csp Iberian Valencia Terminal To Gain Konecranes Hybrid Rtgs
port technology international
Csp Iberian Valencia Terminal To Gain Konecranes Hybrid RtgsThe order with Konecranes was booked in February 2025, with delivery to the Port of Valencia scheduled for March 2026. The new cranes will be added to the fleet of 11 Konecranes hybrid RTGs that CSP Valencia already has in operation at its terminals in Valencia and Bilbao. The new equipment is expected to significantly reduce fuel consumption and CO2 emissions compared to conventional diesel-powered RTGs. The seven new cranes come equipped with Active Load Control (ALC), Gantry Collision Prevention and Truck Lift Prevention, enhancing operational efficiency and safety at the Valencia terminal. “This investment is another important step in our journey towards zero tailpipe port operations,” said Gustavo Ferrer Soriano, General Manager at CSP Iberian Valencia. READ: Port of Augusta boosts productivity with Konecranes crane “Many port operators on the Iberian Peninsula and the Canary Islands are now in full transition to more sustainable operations – this is already our third agreement for the region announced in 2025,” said Darryn Scheepers, EMEA Sales Director, Konecranes, Port Solutions. “The growing uptake of our hybrid drive technology speaks for itself – this is the way to achieve high operational performance while reaching sustainability goals.” Last month, Konecranes attained the IEC 62443-4-1 cybersecurity certification for Port Solutions and Industrial Equipment products offered to container handling, shipyards, process industries and general manufacturing customers.
port-and-ship
Mar 17, 2025
Port Of Leith Unveils Green Hydrogen Shore Power Demo
port technology international
Port Of Leith Unveils Green Hydrogen Shore Power DemoThe project integrates water treatment, waste heat utilisation and hydrogen production to provide clean shore power for maritime operations – an important step in the decarbonisation of ports. The project sees the large tugs, operated by Targe Towing at the Port of Leith, now powered by green hydrogen when tied up. READ: Port of Leith lays out shore power for ships This project is part of the Clean Maritime Demonstration Competition Round 4 (CMDC4), funded by the UK Department for Transport and delivered by Innovate UK under the £236 million ($306 million) UK SHORE programme to decarbonise domestic shipping. Waterwhelm’s specialist treatment technology converts wastewater into fresh reuse water, producing green hydrogen at the Port of Leith without impacting local supplies. Logan Energy’s electrolyser splits this water into oxygen and hydrogen, which fuels PlusZero Power’s Hydrogen Internal Combustion Engine (HICE) generator. READ: Port Houston awarded $25 million to build hydrogen fuelling station Cabinet Secretary for Transport Fiona Hyslop said: “This is a world first for Scotland – a Green Hydrogen Shore Power Demonstrator that uses clean, green hydrogen energy to reduce carbon emissions from vessels when docked in port. It is really encouraging to see the Port of Leith leading the way and putting this kind of technological innovation into action. “We know that Scotland benefits from a diverse and successful maritime sector that contributes significantly to our economy. What’s been proven here is that innovative use of green hydrogen can help decarbonise ports and shipping and I hope to see this replicated in ports across the UK and beyond. READ: HPC to lead green hydrogen initiative across Baltic sea ports Stuart Wallace, Chief Executive Officer of Forth Ports added: “This is an exciting green fuel transition initiative for Forth Ports and Targe Towing as we work towards our commitment to reduce carbon emissions across Forth Ports’ group operations to become net zero by 2042.   “This is the first project of its kind to be demonstrated at a UK port and we are thrilled that Targe Towing has been nominated for the prestigious Tug Innovation of the Year award.” Last October, the Port of Newcastle signed agreements for Front End Engineering Designs (FEED) and Environmental Impact Statements (EIS) for various infrastructure projects for its Clean Energy Precinct (CEP).
port-and-ship
Mar 17, 2025
Port Of Rotterdam Sees €320 Million In Gross Investments
port technology international
Port Of Rotterdam Sees €320 Million In Gross InvestmentsThe major investments at the Port of Rotterdam reportedly included expanding container terminals in Prinses Amaliahaven, building the CO2 transport and storage project Porthos, widening the Yangtzekanaal, and developing the Portlantis port experience centre. READ: Port of Rotterdam witnesses marginal drop in cargo throughput The port stressed its commitment to construct a future-proof port in conjunction with its environment, while connecting the city with the port. In the past year, new partnerships have been formed with local entities, including the Rotterdam Philharmonic Orchestra. Furthermore, a pilot programme offering port consultation hours for residents has been introduced at various neighbourhood hubs. Container volumes at the port in 2024 increased for the first time in three years, with consumer goods and food products as the main growth drivers.
port-and-ship
Mar 15, 2025
Global Container Volumes Hit 15 Million Teus In January
port technology international
Global Container Volumes Hit 15 Million Teus In JanuaryUsing CTS data, Sea-Intelligence calculated that global TEU Miles – adjusted for nautical distance travelled – increased by a very robust 8.1 per cent YoY in January, absorbing greater vessel capacity, while head-haul container transactions increased by 12.9 per cent YoY in January 2025. TEU Miles growth exceeded 20 per cent in 2024, driven by rerouted container services from Suez to Africa due to the Red Sea crisis, not by increased demand. January 2025 is the first month with an apples-to-apples YoY comparison of moving across Africa, therefore the 8.1 per cent YoY rise represents genuine, distance-adjusted container demand. READ: Containership deliveries reach record 1 million TEU However, due to the changeable schedule of Chinese New Year (CNY), Sea-Intelligence noted that January data should be interpreted with caution. The data analyst company added that market strength can also be assessed by usage. Measures of utilisation serve to alleviate CNY timing concerns, as carriers will have adjusted their networks to match supply to the expected seasonal fall in container demand. On Asia-Europe, utilisation at a monthly level dropped already in January 2025, whereas this drop typically only begins after CNY. This is likely a part of the explanation for the early drop-in spot rates on this trade lane in January. READ: Container shipping industry sees profit surge to $10 billion In January, utilisation in Asia-North America increased, and spot rates remained stable for a longer period than in Asia-Europe. This suggests that lower utilisation was a contributing factor to the early drop in Asia-Europe spot rates. However, utilisation in Europe-North America decreased sharply in January, but spot rates did not fall significantly. Recently, Sea-Intelligence assessed the change in container volumes from the US’ East to West coasts in the second half of 2024.
port-and-ship
Mar 14, 2025
Ck Hutchison Faces Backlash Over Us Port Sale
port technology international
Ck Hutchison Faces Backlash Over Us Port SaleAccording to Reuters, the commentary sent shares of the Hong Kong-based multinational significantly down on 14 March by 6.38 per cent. On 13 March, the Hong Kong and Macau Affairs Office (HKAMO) shared a commentary on its website, which was first published in the Chinese state-backed newspaper Ta Kung Pao. Reuters revealed that the piece highlighted criticism from online users, who described the sale as an act that “betrays and sells out the whole of Chinese people.” The commentary also emphasized that the US could potentially limit China’s maritime trade, putting Chinese companies at significant risk in logistics and supply chains, and jeopardising the success of China’s Belt and Road initiatives. This comes one week after BlackRock and Terminal Investment Limited (TiL) Consortium reached an agreement worth $22.8 billion to acquire the international port and terminal operations of CK Hutchison. The deal was said to involve the consortium acquiring 90 per cent of Panama Ports Company (PPC), which manages the Balboa and Cristobal ports in Panama. In addition, BlackRock will own 80 per cent of CK Hutchison’s ownership in 43 ports across 23 countries, including associated managerial resources, terminal systems, and other connected assets. Despite CK Hutchison having agreed to exclusive negotiations with the BlackRock consortium for 145 days, Reuters revealed that the deal has not yet been finalised. Recently, Fourkites’ Principal Solutions Consultant Manager, Stephen Dyke, provided his commentary on the strategic measures companies in the most vulnerable sectors are taking to mitigate risks across the supply chain.
port-and-ship
Mar 14, 2025
Triton Agrees Container Leasing Company Sale
port technology international
Triton Agrees Container Leasing Company SaleAccording to the latest statement from Triton, the transaction is subject to standard closing conditions, including regulatory approval, and is anticipated to close in the first half of 2025. GCI is a marine container leasing company based in Bermuda, with operations around the world. The company operates a fleet of approximately 500,000 TEUs, serving many of the largest shipping lines globally. Brian Sondey, Triton’s Chief Executive Officer commented: “The GCI team has created an impressive business with a well-structured long-term lease portfolio. “This acquisition is an excellent strategic fit for Triton that will allow us to lock in meaningful container fleet growth. We are confident that this transaction will strengthen our ability to offer best-in-class service and support to our customers.” In 2023, Brookfield Infrastructure Partners is acquiring Triton International Limited for approximately $4.7 billion in cash and stock, valuing the container-leasing company’s equity at $13.3 billion. In other maritime news, the Chinese government recently reposted content criticising the port deal between CK Hutchison and US firm BlackRock, calling it a ‘betrayal of China’. According to Reuters, the commentary led to a 6.38 per cent drop in shares of the Hong Kong-based multinational on 14 March.
port-and-ship
Mar 14, 2025