ILWU and ICTSI reach a settlement

ICTSI’s Q1 2024 financials show EBITDA up 17% to US$413.76M, with revenues rising 11% to US$637.65M, while handling slightly fewer TEU than Q1 2023.

Victoria International Container Terminal (VICT) waps up Phase 3A expansion project, becoming only terminal in Melbourne that can handle supersized ships.

Finally, the International Longshore and Warehouse Union (ILWU), which represents over 22,000 employees at 29 US west coast ports, and the Pacific Maritime Association (PMA) which embodies the interests of the employers, have reached agreement on a new labour contract.

There are interesting trends in the yard crane market, as more terminals embrace RMGs and ASCs, while demand for RTGs shifts away from China.

First-half operating performances posted by global terminal operators (GTOs) in the container handling sector were mixed. On the positive front, cargo volumes handled were generally up yearon-year compared to 2016, but rising levels of competition, uncertainties around the new carrier alliances, lines seeking better deals from their vendors and increasing costs all took their toll on operating profits (see accompanying table).

In the West African port sector, Ghana is on the rise, while terminal development in Nigeria, Africa’s largest economy, has stalled.