HUTCHISON PORTS ACQUIRES 50% STAKE IN TMA LOGISTICS B.V. [Seaport]
Hutchison Ports has acquired a 50% shareholding in TMA Logistics B.V. (“TMA”).
TMA has a variety of general cargo terminal operations together with warehousing, shipping, logistics and project cargo activities at three sites in Amsterdam and one in Antwerp as well as at Hutchison Ports Amsterdam (former known as Amsterdam Container Terminal).
Commenting on the acquisition, Clemence Cheng, Executive Director, Hutchison Ports, said:
“The acquisition of a 50% stake in TMA Logistics complements both our existing operations in Amsterdam and the activities of Hutchison Logistics. We have developed a good working relationship with TMA over the last three years which has brought a range of operations to ACT.
“Together with TMA, we will maximise the benefits of operating through Hutchison Ports’ network to develop new business opportunities in areas including short-sea container traffic, ro-ro, vehicle handling, and general and project cargo.”
Gerben Matroos, Managing Director of TMA, added:
“With this step we have the opportunity to grow sustainably in the Amsterdam-Rotterdam-Antwerp range. With the worldwide network of Hutchison Ports, we are now able to expand our activities substantially. The North Sea Canal terminals in Velsen and Amsterdam are ideally located for offshore activities related to oil, gas and wind energy. Also, local hubs for markets in building and construction materials have great potential. Short sea connections from the Amsterdam terminal include Sweden, Finland, UK and Norway, together with rail connections to Germany and China.”
ACT boasts three berths with total length of 1,015 metres and depth of 15 metres, which are some of the deepest water multi-purpose berths in North Europe. With its central location and excellent hinterland connections, ACT offers shipping lines the opportunity to serve their customers in a fast, efficient, reliable and sustainable manner. Access will be further improved when a new sea lock, the largest in the world, opens at the end of 2019 at the entrance to the North Sea Canal.
ACT has outstanding multimodal connections by short sea, inland waterways, road and air. It is directly connected to this network with an excellent on-dock rail facility with three 700-metre-long tracks which offer a range of intermodal distribution options to potential customers.
TMA has a number of businesses. Thor Antwerp and Thor Amsterdam provide terminal operations, logistics services, agency, forwarding and chartering as well as truck, barge and rail distribution in their respective ports. MEO and ACS Logistics Amsterdam operate 120,000m2 of warehousing.
Posted at 22:10 パーマリンク
Posted at 09:34 パーマリンク
ICTSI 1Q2017 Net Income Up 23% to US$51.7M [Seaport]
Throughput grew 11% to 2.3 million TEUs
Revenues increased 12% to US$297.2 million
EBITDA improved 21% to US$147.0 million
International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the quarter ended March 31, 2017 posting revenue from port operations of US$297.2 million, an increase of 12 percent over the US$266.5 million reported for the same period last year; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$147.0 million, 21 percent higher than the US$121.9 million generated in the first quarter of 2016; and net income attributable to equity holders of US$51.7 million, 23 percent more than the US$42.2 million earned in the same period last year due to strong operating income tapered by higher depreciation charges, higher interest and financing charges, and an increase in the Company’s share in the net loss at Sociedad Puerto Industrial Aguadulce S.A. (SPIA), its joint venture container terminal project with PSA International Pte Ltd. (PSA) in Buenaventura, Colombia, which increased from US$2.1 million in the first quarter of 2016 to US$7.4 million for the same period in 2017 as the company started full commercial operations.
ICTSI handled consolidated volume of 2,272,647 twenty-foot equivalent units (TEUs) in the first quarter of 2017, 11 percent more than the 2,053,639 TEUs handled in the same period in 2016. The increase in volume was primarily due to continuous improvement in global trade activities particularly in the emerging markets, continuing ramp-up at ICTSI Iraq, and the contribution of ICTSI Democratic Republic of Congo (IDRC), the Company’s new terminal in Matadi, DRC. Excluding the new terminal in DRC, consolidated volume increased by 10 percent.
Gross revenues from port operations for the quarter ended March 31, 2017 increased 12 percent to US$297.2 million from the US$266.5 million reported in the same period in 2016. The increase in revenues was mainly due to volume growth, tariff rate adjustments at certain terminals, new contracts with shipping lines and services, and the contribution from the Company’s new terminal in Matadi, DRC. Excluding the new terminal in DRC, consolidated gross revenues increased by eight percent.
Consolidated cash operating expenses for the first three months of 2017 was two percent higher at US$103.9 million compared to US$101.5 million in the same period in 2016. The increase in cash operating expenses was mainly driven by the increase in variable manpower costs and higher fuel consumption as a result of the increase in throughput; higher fuel prices and power rate adjustments at certain terminals; unfavorable translation impact of the BRL appreciation at Suape, Brazil; and cost contribution of the new terminals in Matadi, DRC and Melbourne, Australia. The increase was tapered by the additional benefits of the on-going group-wide cost optimization initiatives and the favorable translation impact of Philippine Peso and Mexican Peso expenses at the various terminals in the Philippines and in Manzanillo, Mexico, respectively.
Consolidated EBITDA in the first quarter of 2017 increased 21 percent to US$147.0 million from US$121.9 million in 2016 mainly due strong volume and revenue growth combined with the additional benefits of the on-going group-wide cost optimization initiatives and positive contribution of the new terminal in Matadi, DRC. Consequently, EBITDA margin improved to 49 percent in the first quarter of 2017 from 46 percent in the same period in 2016.
Consolidated financing charges and other expenses for the quarter increased 25 percent from US$20.9 million in 2016 to US$26.2 million in 2017 primarily due to higher average loan balance tapered by the higher capitalized borrowing cost.
Capital expenditure in the first quarter of 2017 amounted to US$33.0 million, approximately 14 percent of the US240.0 million capital expenditure budget for the full year 2017. The established budget is mainly allocated for the completion of the initial stage development of the Company’s greenfield projects in Democratic Republic of Congo and Iraq; the second stage development of the Company’s project in Australia; continuing development of the Company’s container terminals in Mexico and Honduras; and capacity expansion in its terminal operations in Manila. In addition, ICTSI invested US$9.1 million in SPIA in Buenaventura, Colombia. The Company allocated approximately US$25.0 million for its share in 2017 to complete the initial phase of its joint venture container terminal project with PSA International.
ICTSI is widely acknowledged to be a leading global developer, manager and operator of container terminals in the 50,000 to 2.5 million TEU/year range. ICTSI has an experience record that spans four continents and continues to pursue container terminal opportunities around the world.
Posted at 19:04 パーマリンク
Port efficiency to attract more shipping lines, port users to Subic [Seaport]
International Container Terminal Services, Inc. (ICTSI) continues to make a strong case for the Subic Bay Freeport as a key international trading gateway of the Philippines after achieving productivity levels at par with that of the Manila International Container Terminal (MICT).
Two Panamax quay cranes at the New Container Terminal (NCT) 1 recently handled close to 400 twenty foot equivalent units (TEU) with each crane averaging 40 and 33 moves per hour, respectively. The productivity levels were achieved during the inaugural call of Evergreen Marine Corp.’s 1,440-TEU boxship Cape Fulmar.
The call signaled the start of Evergreen’s South Korea-Taiwan-Philippines (KTP) service, a new route to facilitate improving regional trade between the three economies. The service plies the ports of Incheon and Kwang Yang, South Korea; Kaohsiung, Taiwan; and Batangas, Manila and Subic Bay, Philippines. Aside from Cape Fulmar, 1,440-TEU boxship Cape Faro is also chartered to the weekly service.
“It was a great effort and a big win for ICTSI’s Subic operations. This goes to show that Subic is at par with the productivity levels in MICT. We are continuously working on improving our services to attract more shipping lines, and for northern and central Luzon businesses to use the container terminals in Subic,” says Roberto Locsin, Subic Bay International Terminal Corp. (SBITC) President.
He adds: “As a national port operator, ICTSI ensures that each Philippine marine terminal under its helm remains competitive. Subic, in particular, was developed not only for the industrial locators of the Freeport but for the local markets in Luzon north of Metro Manila.”
MICT, ICTSI’s flagship terminal, primarily serves the Metro Manila market and its adjacent markets, where most of the economic activities of the country happen being the country's capital. “Metro Manila as a market will continue to grow,” says Mr. Locsin.
“But, as the northern and central Luzon countryside develops driven by industrial centers like Subic, Clark, Bataan and Tarlac also continuing to grow, the Subic Bay Freeport is that gateway ready to link its products to global markets. We have the equipment and facilities. We carry ICTSI's brand of service and efficiency,” he adds.
ICTSI has positioned itself in Subic in anticipation of growing local markets north of Metro Manila. In 2007, under the Subic Port Development Plan, the Subic Bay Metropolitan Authority awarded SBITC the concession for NCT 1. In 2011, under the plan’s second phase, another ICTSI subsidiary, ICTSI Subic, Inc., was awarded the concession to operate NCT 2.
Increasing volumes in Subic enabled ICTSI to streamline and interface the operations of NCT 1 and 2. The merged operation has been serving the growing markets of the region, alongside the continued support to facilitate the box market of Metro Manila.
Posted at 19:01 パーマリンク
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