APSEZ Announces Q1 FY23 Results, Record Cargo Volumes and EBITDA

Mumbai: Port Wings News Network: Adani Ports and Special Economic Zone Ltd (“APSEZ”), the largest transport utility in India, on 8 August announced its results for the first quarter of FY2023. “Q1 FY23 has been the strongest quarter in APSEZ’s history, with a record cargo volume and highest ever quarterly …

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ICTSI 1H2022 Net Income up 50% to US$294.5M

Chennai: Port Wings News Network: International Container Terminal Services, Inc. (ICTSI) reported unaudited consolidated financial results for the first half of 2022 posting revenue from its global port operations of US$1.06 billion, an increase of 20 percent from the US$882.6 million reported for the first six months of 2021; Earnings …

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Editorial: Nothing is Certain

Chennai, 3 August 2022: “The carriers have enjoyed staggering rates rises, driven by factors such as strong demand, a lack of equipment, congestion and COVID uncertainty, for 17 of the last 19 months,” comments Xeneta CEO Patrik Berglund.  “July has seen yet more upticks across the board, but the signs …

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Editorial: Global Port Labor Issues

Chennai, 27 July 2022: Labor issues at cargo ports could prolong shipping bottlenecks and temporarily reduce volumes, Fitch Ratings says. Global ports are sensitive to labor-related disruptions as they are still clearing residual pandemic-related backlogs with shippers entering their peak season. However, stable, contractually guaranteed revenues and robust liquidity will …

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