Cosco Pacific set to freeze investment

Grimaldi Group and other PCTC operators have objected to a 34% increase in tariffs for finished car traffic introduced by Piraeus Port Authority with effect from the middle of March

Following on from news that DP World’s Antwerp Gateway facility is expanding (see page 1), CTO Jef Lambregts explained that the terminal splits its yard volume roughly 50:50 between the ASCs and traditional straddle carrier yard, and this “combination gives us optimum flexibility” for what is, like Rotterdam World Gateway, a common-user facility. DP World is the biggest shareholder in Antwerp Gateway with (following ZIM’s departure from the consortium last year) a 60% stake. Cosco Pacific owns 2

The development of new ports and railways in East Africa could be about to shake up the region’s long-established status quo.

Dry freight container builders are facing further difficulties this year, with production having declined to a seven-year low and finished prices remaining weak.

China’s economy and its trading/logistics environment are going through a period of change that looks set to continue.

Cosco Shipping has completed its purchase of 67% of the shares in the Greek port of Piraeus. The deal between China Cosco Shipping Corporation and the Hellenic Republic Asset Development Fund (HRADF) was closed this month in Beijing.