RORO

Finnlines suspends Germany-Russia service

Ro-Ro and passenger services operator Finnlines announced that it is suspending its service TransRussiaExpress, due to ‘a constant deterioration on the Russian market’ the company has been facing over the last few years. 

CMES to raise $610m for new-builds and scrubbers

China Merchants Energy Shipping (CMES) announced its plan to raise around RMB4.1bn ($610 million) through new share offering. The company will use part of the money to fund newbuilds on order, including four VLCCs and two VLOCs. It also expects to spend $50 million on fitting 10 VLCCs with scrubbers.

DP World to expand by purchasing British P&O Ferries

DP World PLC, the Dubai-based port operator, announced its interest on purchasing the holding company of P&O Ferries and P&O Ferrymasters of GBP 322 million (USD 421 million). The transaction implies a 2017 Enterprise Value/EBITDA valuation multiple of 6.1x.

Yilport’s international volumes continue rise in 2018

Yilport Holding, port management and logistics subsidiary of Yildirim Group had a ‘golden year’ due to the increase of its business and volumes growth. The worldwide terminals handled 6.41 million TEU containers in 2018, reporting 5% year-on-year volume development in comparison to 2017, that was led by its 10 container terminals in Turkey, Scandinavia, Iberia, and Latin America.

Port of Felixstowe, DFDS invest to boost Ro-Ro capacity

The UK Port of Felixstowe and Danish ferry operator DFDS have agreed to increase roll-on/roll-off (Ro-Ro) capacity at the port by over 40% through investment in a new linkspan, tractor units and additional trailer parking facilities. The agreement extents the service at Felixstowe for 15 years.

Port of Gothenburg container freight volumes up by 17%

Port of Gothenburg has published its 2018 freight figures. Container volumes rose by 17% compared with the previous year. Energy products, intra-European ro-ro units and new cars all decreased by 1%, albeit in relation to the high comparative figures for these three segments in 2017.

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