​New Container Terminal is to Rise at Khalifa Port​

Such an agreement was concluded on Nov 5 between Chinese Cosco Shipping Ports (CSP) and Abu Dhabi Ports developer and operator. The construction process will start in the beginning of 2019 and will last estimated 18 months. The terminal is going to set along the "21st Century Maritime Silk Road" and expected to become a shipping hub for major international shipping companies in the Upper Gulf Region with annual capacity of 2.5 million TEU. Moreover, during the ceremony both sides signed the agreement for the biggest region's container freight station development. This partnership will strengthen UAE-China relationships, create perspective jobs and attract more investment.

Navios Exploring Further Acquisitions

Navios Maritime Containers ended its first full quarter of operation with a net income of USD 84 000. The container shipper was founded on April 28 and its net income reached USD 965 thousand on September 30, with a revenue of 17.8 million.

“We are pleased with our financial performance in our first full quarter of operation for which we reported adjusted EBITDA of USD 7 million and adjusted net income of USD 531 thousand. We believe the container market continues to offer attractive acquisition candidates. We are actively pursuing opportunities while this favorable market persists,” Angeliki Frangou, Chairman and Chief Executive Officer, said.

Navios Containers has been expanding its fleet with both cash and credit purchases. The company currently owns 16 vessels whose combined total is 65,600 TEU and the average expected daily charter-out rate is $16,422 for 2017 and $24,177 for 2018.

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*Offer valid till October 31st and can not be combined with any other discounts. 

Lloyd’s List Asia Names Maersk ‘Container Operator of the Year’

Danish shipper Maersk Line has been named ‘Container Operator of the Year’ at the annual Lloyd’s List Asia awards in Singapore. Maersk received the award for their market leading digital solutions and trade finance.

“[This award] is the recognition of the continued support we have seen from our customers and peers during a challenging time for Maersk Line, it is also great to take this back to our employees who really deserve this award,” Rupesh Jain, Maersk Line’s South East Asia Managing Director, said.

In 2017, Maersk added services between Asia and the US East Coast and Asia and West Africa, as well as on the Asia-North Europe route.

Trade Finance is an instrument which Maersk offers in Singapore, India, Spain, the Netherlands, USA and the UAE. The clients are able to borrow capital at a lower cost, allowing them to increase their global shipments.

Maersk also introduced the Remote Container Management system, which provides real time cargo data (location, temperature, humidity and other conditions).