Blogs

Japan-Based Mitsubishi HC Capital Acquires The Possession Of A Container Leasing Organization Called CAI International Hailing from Japan, Mitsubishi HC Capital or MHC has sealed the deal for taking over a well-established container leasing company (for an incredible sum of 1.1 billion dollars) called CAI International (New York-listed), which is currently based in San Francisco. According to the recent reports, the agreement includes 104 million dollars of preferred stock and 986 million dollars of common stock equity value along with a confirmed enterprise sum of 2.9 billion dollars. Following the transaction between Mitsubishi HC Capital and CAI International, MHC has planned to hold on to the existing employees and management team at CAI. Though the headquarters will still be located in San Francisco, the shares owned by CAI will not be listed any further at the New York Stock Exchange. New Mangalore Port Trust Achieves Greater Heights By Handling The Largest-Parcel Size Container Vessel At The Port New Mangalore Port Trust has been successful in achieving a new milestone after effectively handling the largest parcel-size container vessel to have called at the port. The vessel, SSL Brahmaputra - V.084, has a length of 260 metres and a width of 32.5 metres and has been declared the largest container vessel to have been handled at the port without any hassles. SSL Brahmaputra comprises a deadweight tonnage of 50,900 tons and was loaded with 1,142 boxes worth of containers when it dropped anchor at the port. The New Mangalore Port Trust is experiencing a steady growth in container traffic from less than 2000 teus a year back to 1.5 lakh teus in the time period of 2020-21 so far. The port has recently introduced an exclusive deep draft berth to the Mangalore Container Terminal Pvt. Ltd., in order to tackle the rising demand for enabling a smooth flow of container traffic in the long run. Chennai Port Witnessed A 25 Percent Container Shortage Owing To The Existing Supply And Demand Gap Among Exporters Chennai Port is experiencing a container shortage of 25 percent due to the gap between supply and demand and this has resulted in exporters showing their discontent of paying double rates to transfer consignments in the wake of the Coronavirus pandemic. The raging pandemic since 2020 has inevitably created a global shipping crisis and the container shortage is adding to the misfortune of worldwide maritime trade. Amidst the container price hike, the Chennai Port is looking forward to the situation stabilizing as the gap between supply and demand is closed in the coming months. DP World Ushers In A Brand-New Weekly India South Gulf Service At Its Respective Port Terminals At Cochin And Chennai DP World is a reputed global logistics organization in the maritime industry and it has grabbed the headlines by launching a new weekly India South Gulf (ISG) service at its port terminals located in Cochin and Chennai. The ISG service is all set to be jointly supervised by Evergreen Line (a well-known global shipping company) along with the collaboration of feeder operators like Express Feeders and Feedertech. The weekly service will do a wonderful job of linking the Chennai Container Terminal and the Cochin-based International Container Transshipment Terminal to the Middle East and boost trade operations in the near future. France-Based Startup Neoline Selects Neopolia Mobility For Building Its First 136-Meter Sailing Cargo Vessel Neoline has carved its own niche in the maritime industry by gaining recognition as a French shipping startup and it has now signed an LOI for building its first 136-meter sailing cargo ship at Neopolia Mobility yard. Neopolia Mobility has a strong portfolio in supervising the construction of large industrial projects and the experience will come in handy in the construction of the large-sized cargo vessel owned by Neoline. Sources: https://splash247.com/mitsubishi-hc-capital-takes-over-container-leasing-company-cai-international/ https://www.maritimegateway.com/new-mangalore-port-trust-handles-largest-parcel-size/ https://www.maritimegateway.com/exporters-pay-double-rates-at-chennai-port/ https://www.maritimegateway.com/dp-worlds-new-service-connects-middle-east-from-chennai-and-cochin/ https://www.marinelink.com/news/neoline-chooses-yard-build-sailing-cargo-48852