Financing automated equipment

Although it had been widely accepted that the government of South Africa would provide transport utility Transnet with no further financial support this year, it has now agreed to provide a ZAR47B (US$2.49B) guarantee facility. The money will enable Transnet to continue operating.

In a further move to expand its terminals portfolio, Manila-based International Container Terminal Services Inc has successfully concluded a new funding arrangement with Metropolitan Bank & Trust Co (Metrobank).

The port of Fremantle in western Australia has little room to expand as a result of the area’s local topography. The land near the port is also highly valuable and, therefore, more attractive to real estate development.

Paris-based RIVE Private Investment has secured €300M in bank financing for the acquisition of 55 ‘innovative’ railway locomotives from three different manufacturers.

Reports recently published by Drewry, HSBC Global Research, Sea-Intelligence and Xeneta point to an extremely challenging future for the liner shipping industry as rising levels of overcapacity depress freight rates. Carriers’ profits are already coming under immense pressure after two years of very high returns with Maersk Line, CMA CGM, Hapag-Lloyd and Zim all reporting substantially lower earnings than a year ago.

South African transport utility Transnet has issued a Request for Proposals (RFP) to develop and operate a multi-purpose terminal to handle fruit at Maydon Wharf in the Port of Durban.