Yemen Port of Aden returns to work 

The Port of Aden has been excluded from the temporary closure of all sea, air and land ports in Yemen this week. The exit port received 12 Kalmar trailers intended for the Aden Container Terminal which followed the arrival of reach stackers with a maximum load of up to 50 tons at the end of October. Port of Aden proceeds with the regular work and more equipment is expected to arrive by the next year. The decision was attributed   by Yemeni government that favors to make the Port of Aden to handle more cargo volume.

​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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