The Panama Canal Authority reported that none of the pre-qualified companies presented their offer on Friday, March 3, to compete in the design, construction, development and operation of a container port in Corozal West. The four consortiums that were able to offer were APM Terminals B.V. (Netherlands); Terminal Link (France); PSA International Ltd. (Singapore), and Terminal Investment Ltd. (Netherlands).
Slower growth in global trade and increasing political and economic uncertainty have ratcheted up risk for the Caribbean’s transshipment port operators following the expansion of the Panama Canal. Jennifer P. Roig from InfraLatinAmerica asks industry experts which operations are likely to appeal to lenders
The owners of the Hamburg Süd Group have announced their intention to sell the Company to Maersk Line A/S. Subject to the required regulatory and shareholder approvals the transaction will be concluded at the end of 2017 at the earliest. This is a very important decision in the 145 year history of the Hamburg Süd Group which should be seen positively for the following reasons:
- Through this transaction the Hamburg Süd Group brands will gain access to the scale and network of Maersk Line A/S to ensure a continued high-quality and sustainable service to its clients in a very competitive industry;
- Hamburg Süd will be able to expand and grow as part of Maersk Line A/S and will continue being a reliable and sustainable partner for its business partners.
The agreement, following a recent wave of consolidation in the industry, will leave only 13 global companies (most of them with cargo-sharing agreements) compared to 20 at the beginning of the year, of which Maersk-Hamburg Sud would control almost 20% of the world market. In the case of Brazil would be 80% of the market, according to analysts.
The completion of the Panama Canal expansion; and the recent bankruptcy of Hanjin Shipping are the two seismic events of the decade. Ocean carriers APL and MSC join port operator PSA to assess the effects cascading through the global supply chain.